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Caption: Board of Trustees Minutes - 1974 Version B
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52 BOARD OF TRUSTEES [September 20 ject to the lien of the mortgage and the rights of the United States of America under the lease concerning the Laboratory, as amended, on behalf of the Board of Trustees. Further Resolved, that in the event that the lease between the United States of America and the University of Illinois Foundation concerning the Construction Engineering Research Laboratory should be cancelled or terminated for cause or otherwise, the Comptroller and the Secretary of the Board are authorized and directed to enter into an agreement with the Foundation pursuant to which the University would, until such time as the 1972 Bonds are fully retired, make such payments to the Foundation as would have been made to the Foundation by the United States had the lease not been cancelled or terminated. Further Resolved, that the Comptroller of the Board be and hereby is authorized to pledge as additional security for the bonds to be issued by the Foundation for the financing of this project all additions or income to the University's Contract Research Reserve up to $300,000 per annum to the payment of the obligation with respect to said facilities referred to in the previous resolutions. Further Resolved, that the Comptroller and the Secretary of the Board be and they hereby are authorized and directed to execute such documents, contracts, written understandings or commitments as may be necessary to adequately evidence and affirm the actions taken herewith. On motion of Mr. Swain, the foregoing resolution was adopted by the following vote: Aye, Mr. Hughes, Mr. Pogue, Mr. Swain; no, none; absent, none. SECRETARY'S REPORT The Secretary presented for record appointments to the faculty made by the President; resignations; declinations and resignations of summer appointments; leaves of absence; retirements. A copy of the report is filed with the Secretary. The business of the meeting having been completed, on motion of Mr. Swain, the Executive Committee adjourned. ROGER B. POGUE TIMOTHY W. SWAIN EARL M. HUGHES EARL W. PORTER Secretary and Clerk Chairman On motion of Mr. Pogue, the Board ratified, approved, and confirmed all of the actions of the Executive Committee as reported. BUSINESS PRESENTED BY T H E PRESIDENT OF T H E UNIVERSITY PRESIDENT'S REPORTS The Board considered the following reports and recommendations from the President of the University. Copies of the President's Report on Selected Topics of Current Interest were distributed at the meeting, and a copy was filed with the Secretary of the Board. Student Advisory Committee The President reported as follows: Following the July meeting of the Board of Trustees and in keeping with the action of the Board asking me to review proposals for a student advisory committee, I consulted with several of my administrative colleagues and prepared a draft proposal for review with the student group. On August 14 I met with student representatives from each of our campuses (essentially the same group with whom the Trustees met in July) to discuss the draft. As a result of that discussion the following proposal was approved by the students in attendance and by me.
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