Repository: UIHistories Project: Board of Trustees Minutes - 1974 Version B [PAGE 471]

EXTRACTED TEXT FROM PAGE:

1974]

UNIVERSITY OF ILLINOIS

463

Plant Funds D-M-P Building Bonds of 1951 (Medical Center) Purchase: $205 000 U.S. Treasury bills due 3/21/74 Executive Development Center Building Purchase: $3 000 U.S. Treasury S% per cent notes due 8/15/74 Krannert Contributions Purchase: $60 000 Citizens and Southern Holding demand notes Sinking Funds Bonds of 1964 (Medical Center) Purchases * $90 000 U.S. Treasury 5 !4 percent bonds due 11/15/73 25 000 U.S. Treasury bills due 5/7/74 70 000 U.S. Treasury bills due 11/19/74 Housing Revenue Bonds Sale: $10 000 U.S. Treasury 5M> percent bonds due 2/15/74 $43 000 U.S. Treasury 5 ^ p e r c e n t notes due 2/15/75 73 000 U.S. Treasury 6J£ per cent notes due 2/15/76 Illini Union and Health Center

• lirf* n 3 Q P *

Per Cent 7.84 $

197 469 67

6.42

2 977 50

8.88

60 000 00

PCT Cctit 4.44 6.97 8.06

89 859 38 24 085 42 64 727 06

9 885 00 7.18 6.89 42 166 88 7 1 9 9 6 25

$10 000 U.S. Treasury bills due 9/24/74 Men's Residence Halls Revenue Bonds of 1957 Purchase: $10 000 U.S. Treasury 8% per cent notes due 9/30/75 Revenue Bonds of 1956 Purchase: $3 000 U.S. Treasury 6 per cent notes due 9/30/74 Student Services Building Purchase: $17 000 U.S. Treasury 6}4 per cent notes due 2/15/76 Women's Residence Halls Revenue Bonds of 1956 i u rcn3.se * $5 000 U.S. Treasury 6 per cent notes due 9/30/74

7.90

9 368 94

7.17

10 2 1 1 2 5

6.83

2 976 56

6.88

16 930 05

7.05

4 950 94

This report was received for record.

LITIGATION RELATING T O K R A N N E R T C E N T E R F O R T H E P E R F O R M I N G A R T S , URBANA (26) Phase I of the Krannert Center for the Performing A r t s at the Urbana campus was constructed under a contract awarded by the University of Illinois and P h a s e I I was constructed under a contract awarded by the University of Illinois Foundation. Architectural_ services were provided under a contract awarded by the University of Illinois. T h e complex is occupied by the University under a lease arrangement with the Foundation. Certain problems relating to plaza surfaces and subsurfaces, drainage, flashings, roofs, fascia, and other areas have been experienced at Krannert Center for the Performing Arts complex. Investigation indicates that these may be related to design or construction deficiencies, or both. T h e prime contractor and the architect have declined to bear the expense of satisfactory correction and resolution of the defects. T h e University of Illinois Foundation has authorized the initiation of litiga-