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Caption: Board of Trustees Minutes - 1954
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1953] UNIVERSITY OF ILLINOIS 519 Since then B D N Steel Erecting Company has dismantled the tower and said equipment, has transported the same to Robert Allerton Park, and has partially painted and partially erected the tower. It has not completed the work, however, and has done no work under the contract for several weeks. T h e University now has a letter from BDN Steel Erecting Company stating that, because of financial difficulties, it is unable to proceed with the work and to fulfill its obligations under the contract. In order that appropriate action may be taken to protect the University's interests and to enable the University to complete the work through employing some other contractor to do it if the surety on the bond refuses to take over and complete the work, as it has indicated it will probably do, the Comptroller and the Legal Counsel recommend the adoption by the Board of the following resolution. I concur. Resolution It Is Hereby Resolved by the Board of Trustees of the University of Illinois that the BDN Steel Erecting Company, in view of its failure to continue to perform and complete its obligations to this Board of Trustees under the contract between them bearing date of September 16, 1950, as modified by a supplemental letter agreement dated July 29, 1952, for, among other things, the painting and erecting of a 550-foot steel tower with antenna and other equipment at Robert Allerton Park, Illinois, and its inability to proceed with that work, be, and the same is hereby, declared to be in default under said contract. // Is Further Hereby Resolved that the Comptroller and the Legal Counsel be, and they are hereby, authorized to notify said BDN Steel Erecting Company and the surety upon the performance bond given by it in connection with said contract, that it is, and has been declared to be, in default thereunder and that the Comptroller and the Legal Counsel be, and they are hereby, authorized to take any and all steps as may be necessary or desirable to secure the completion of the work contemplated by said contract, and to preserve, protect, and enforce the University's rights under said contract and said performance bond against said B D N Steel Erecting Company and the surety upon said bond. On motion of Mr. Megran, this resolution was adopted by the following vote: Aye, Mr. Fornof, Mr. Grange, Mr. Herrick, Mr. Hickman, Mrs. Holt, Mr. Johnston, Mr. Livingston, Mr. Megran, Mrs. Watkins; no, none; absent, Mr. Nickell, Mr. Stratton. REPORT OF FINANCE COMMITTEE ON EMPLOYMENT OF UNIVERSITY AUDITORS Mr. Fornof, for the Finance Committee, presented the following report: The Finance Committee recommends that the firm of Haskins and Sells, Certified Public Accountants, Chicago, be engaged as auditors for the year ending June 30, 1953, their services to be charged at per diem rates and expenses, with the understanding that the aggregate charges will not exceed the following: University of Illinois (including all divisions) $12 000 University of Illinois Foundation (including its Retirement System) 600 ; University of Illinois Athletic Association- (including its Retirement System) 750 These maximum costs are based on the assumption that if the auditors go beyond the scope of the usual examination on request of the Finance Committee or the Board, further compensation for such additional work will be allowed by the Finance Committee. On motion of Mr. Fornof, this recommendation was approved. REPORT OF THE COMMITTEE ON GENERAL POLICY ON THE BIENNIAL BUDGET FOR 1 9 5 3 - 1 9 5 5 Mr. Johnston presented the following report:
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