Repository: UIHistories Project: Board of Trustees Minutes - 1958 [PAGE 959]

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BOARD O F T R U S T E E S

[October

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R e p o r t of C o m p t r o l l e r Men's Residence Halls Revenue Bond Fund of 1957— Construction (Authorized by Board of Trustees resolution of May 28, 1957) Purchase $837,000 U. S. Treasury certificates, 3^4, per cent, due December I, 1957 $837 523 13 485,000 U. S. Treasury bills, due October 31, 1957 483 827 92 82,000 U. S. Treasury certificates, 35^ per cent, due December 1, 1957 82 012 81 147,000 U. S. Treasury certificates, 4 per cent, due August I, 1958.. 146 931 09 Women's Residence Halls Revenue Bond Fund of 1956 — Construction (Authorized by Board of Trustees resolution of September 18, 1956, minutes page 52) Purchase $400,000 U. S. Treasury bills, due October 31, 1957 $399 033 33 Dormitory (Authorized by Board 982, and September 18, Purchase $23,000 U. S. Treasury Revenue Bond Fund of 1956 — Sinking Fund of Trustees resolutions of March 23, 1956, minutes page 1956, minutes page 49) Certificates, 4 per cent, due August I, 1958 $23 000 00

Dormitory Revenue Bond Fund of 1952 — Reserve (Authorized by Board of Trustees resolution of February 22, 1952, minutes page 1372) Purchase $170,000 U. S. Treasury bonds, 2}4 per cent, due March 15, 1970 $147 900 00 Dentistry-Medicine-Pharmacy Building Revenue Bond Fund — Construction (Authorized by Board of Trustees resolution dated March 18, 1951, minutes page 632) Purchase $10,000 U. S. Treasury bills, due August 22, 1957 $9 931 56 10,000 U. S. Treasury bills, due September 5, 1957 9 916 58 10,000 U. S. Treasury bills, due September 19, 1957 9 950 210,000 U. S. Treasury bills, due October 17, 1957 9 973 3' 10,000 U. S. Treasury bills, due October 31, 1957 9 960 25 10,000 U. S. Treasury bills, due November 14, 1957 9 945 10 Dentistry-Medicine-Pharmacy Building Revenue Bond Fund — Auxiliary (Business Manager of Chicago Departments authorized by Board of Trustees at meeting of December 16, 1953, minutes page 1191) Purchase $60,000 U. S. Treasury bills, due October 31, 1957 $59 490 00 T h i s report w a s received for record. PAYMENT ON PLUMBING CONTRACT FOR ADDITIONS TO MEN'S RESIDENCE HALLS T h e S e c r e t a r y p r e s e n t e d t h e f o l l o w i n g r e p o r t f r o m t h e E x e c u t i v e Committee. Prior to completion of the construction of Men's Residence Halls Additions 3 and 4, the contractor for the plumbing work, Edward M. Brumit, doing business as B. & E. Plumbing and Heating, became involved in financial difficulties which made it necessary to enter into an arrangement to insure payment for the materia. and labor bills he would incur in completing his work by making payments, which would otherwise be due him under the contract, to a third party who in turn toot care of the claims. With the exception of minor corrective work which the University has been doing itself, the work covered by the contract has been completed.