Repository: UIHistories Project: Board of Trustees Minutes - 1954 [PAGE 680]

EXTRACTED TEXT FROM PAGE:

1953]

UNIVERSITY OF ILLINOIS

677

authorized for purchases without prior approval of the Board), and all contracts executed under this authority have subsequently been reported to the Board. This expedites business and relieves the Board of many minor details in the routine operations of the University. T h e Statutes also authorize the Comptroller to sign leases for land for agricultural experimental work provided that the President of the University has specifically authorized the negotiations for such land. This provision, together with the provisions of Article I I I , Section 4, and Article IV, Section 3, of the Board's By-Laws, apparently limits the power of the Comptroller to enter into leases, even of a minor nature, to those of land for "agricultural experimental work" and requires that all other leases (with the exception of leases of University housing facilities which by Board authorization in September, 1950, may be executed by the Director of Housing) be approved by the Board of Trustees. There are two situations under which authorization of the Comptroller to execute leases of land without prior Board approval is highly desirable: a. Leases of endowment farms owned by the University to tenants, where the terms and the rental to be paid by the tenants conform to those prevailing in the area, and which in each case are recommended by the Dean of the College of Agriculture. b. Leases of property by the University when such property is needed for University work and where the annual rental to be paid does not exceed $2,500, provided funds are available to pay the rental. Accordingly, the Legal Counsel and the Comptroller recommend that Section 52(d) II of the present University of Illinois Statutes be amended to read (new language is in italics): Minor contracts and those involving the purchase of ordinary supplies, advertising and publicity matters, and other routine matters in the ordinary operation of University affairs, including leases of farms owned by the University and leases for property needed for projects for tvhich funds are available, shall be signed by the Secretary of the Board of Trustees and by the Comptroller of the University, to whom authority is hereby delegated by the Board for such purposes provided that no such lease to the University shall create any liability for rent in excess of $2,500 per year and provided further that funds are then available for the rent to be paid thereunder. To make this amended provision operative, it will also be necessary to amend Article III, Section 4, of the By-Laws of the Board to read (new language is in italics) : A record vote of the Board shall be had on all propositions for the appropriation of the funds of the University or to create any liability, or on the sale, purchase, or leasing of real estate except where such authority is specifically delegated to University administrative officers in the Statutes of the University or any amendment or revision of the Statutes of the University or By-Laws of the Board, and on the demand of any member of the Board made before the announcement of a vote otherwise taken.

On motion of Mr. Johnston, the amendments of the Statutes and of the By-Laws of the Board, as recommended, were adopted. This action was taken by the following vote: Aye, Mr. Herrick, Mrs. Holt, Mr. Johnston, Mr. Livingston, Mr. Megran, Mrs. Watkins; no, Mr. Nickell; absent, Mr. Bissell, Mr. Grange, Mr. Hickman, Mr. Stratton.

LEVIS L O A N FUND

(23) Mr. William E. Levis of the Class of 1913, donor of the William E. Levis Student Loan Fund, has indicated his desire to alter the regulations governing the fund, which were a part of the deed of gift, in such manner as to make the fund as useful as possible and to conform more nearly with general student loan regulations. H e has authorized the following changes: Interest: Notes will bear interest at four per cent per annum from graduation or leaving school to date of maturity and six per cent thereafter until principal is paid.