Repository: UIHistories Project: Board of Trustees Minutes - 1958 [PAGE 960]

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1957]

U N I V E R S I T Y OF I L L I N O I S

957

The University has available to complete payments on this contract $13,679.16 which, less the cost of the corrective work, represents the unpaid balance of the amount due. Ordinarily this balance would be paid to B. & E. Plumbing and Heating, but the University can not pay it directly to the contractor because: 1. The Aetna Casualty and Surety Company, surety on his performance bond, claims that it is entitled to receive the entire amount, both by virtue of an assignment which it took from him at the time it signed the bond and its rights, as surety, to be subrogated to his claims on account of payments in excess of that sum which it has made and will make to those to whom he is indebted on account of the work contemplated by the contract and who are entitled to recover the amounts due them under the bond; 2. The Commercial Bank of Champaign claims that it is entitled to receive $6,454.90 out of said funds the University is now holding by virtue of an assignment given it by the contractor when it made certain loans to him to enable him to meet his payrolls prior to the time the above mentioned arrangement was entered into; 3. The United States Government claims that it is entitled to $6,173.69 out of said funds by virtue of liens it asserts against the same and distress warrants served by it upon the University for withholding taxes which the contractor has failed to pay; and 4. A number of persons, firms, and corporations who furnished materials or labor to the contractor in connection with the performance by him of the work contemplated by the contract and prior to the entering into of the above mentioned arrangement assert claims and liens against said funds for the unpaid balances due them from him. Each of these claimants asserts that his or its claim is prior to and superior to those of the others, as well as to those of the contractor. On recommendation of the Director of the Physical Plant Department, the Legal Counsel, the Vice-President and Comptroller, concurred in by the President of the University, the Executive Committee authorized payment of the balance due under this contract to the Aetna Casualty and Surety Company under an agreement with that Company that it will settle with other claimants or will litigate their claims, and will indemnify the University and protect it against loss, cost, or expense growing out of the making of payment to it and against all of the aforementioned claims to these funds.

This report was received for record.

DEGREES CONFERRED

The Secretary presented for record the following list of degrees conferred at Urbana on October 15, 1957, and at the Chicago Professional Colleges on September 21, 1957.

Summary Degrees in the Graduate College, conferred at Urbana: Doctor of Philosophy Doctor of Education Master of Arts Master of Science Master of Music Master of Education Total, Graduate College Baccalaureate Bachelor of Bachelor of Bachelor of Bachelor of Bachelor of Bachelor of Bachelor of Bachelor of Degrees, conferred at Urbana: Science, College of Agriculture Science, College of Engineering Arts, College of Liberal A r t s and Sciences Science, College of Liberal Arts and Sciences Science, College of Education Science, College of Commerce and Business Administration... Architecture, College of Fine and Applied Arts Fine Arts, College of Fine and Applied Arts 121 9 20 42 1 1 (194) 2 2 3 2 2 6 2 I