Repository: UIHistories Project: Board of Trustees Minutes - 1978 [PAGE 581]

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568

BOARD OF TRUSTEES

[March 15

9. Advise the University on an ongoing basis after the system has been established in such matters as A. G. Becker advice may be of value (without additional fee unless appropriately authorized). The University will bear all expenses directly relating to the creation of the system and exchange and issuance of its bonds, including payment of any associated legal, accounting, rating agency, and printing fees. A. G. Becker will be responsible for its own applicable out-of-pocket expenses. This contract is considered exempt from competitive bidding procedures as service requiring professional skills. The vice president for administration has recommended acceptance of the proposal and has requested authorization for the appropriate officers to execute the documents necessary to authorize A. G. Becker to act as financial adviser to the University for this undertaking. I concur. T h e student advisory v o t e w a s : A y e , M i s s Cordon, M r . Overstreet, Miss W i n t e r ; n o , none. O n m o t i o n of M r . H a h n , this r e c o m m e n d a t i o n w a s approved a n d authority w a s g i v e n as requested by t h e following v o t e : Aye, M r . Forsyth, M r . H a h n , M r . H o w a r d , M r . Lenz, M r . Livingston, M r . N e a l , Mrs. R a d e r , M r s . Shepherd, M r . V e l a s q u e z ; n o , n o n e ; absent, Governor Thompson.

Employment of Bond Counsel, Advance Re-funding Bonds, Series 1978

(22) The university counsel has reported that in order to proceed with the development of the advance re-funding bond issue it is desirable for the University now to engage special bond counsel to provide legal assistance. The employment of the law firm of Chapman & Cutler has been recommended to act as bond counsel for the University in connection with the advance re-funding issue. The firm has represented the University previously, and the services have been satisfactory. Funds are available for this service from the advance re-funding issue or the operating funds of the auxiliary enterprises participating in the system. I concur in the recommendation. T h e student advisory v o t e w a s : A y e , M i s s Cordon, Mr. Overstreet, M i s s W i n t e r ; n o , none. O n m o t i o n of M r s . R a d e r , this r e c o m m e n d a t i o n w a s approved by the following v o t e : Aye, M r . Forsyth, M r . H a h n , M r . H o w a r d , M r . L i v ingston, M r . N e a l , Mrs. R a d e r , Mrs. Shepherd, M r . V e l a s q u e z ; no, n o n e ; absent, G o v e r n o r T h o m p s o n . M r . L e n z asked t o b e recorded as not voting.

Authorization for Parity Bond Issue " N " under Campus Life Auxiliary Enterprise Support System1 (Action Includes Elimination of Tuition Retention with Increase in Student Service Fee)

(23) I recommend that the Board of Trustees give approval for projects not to exceed a total of $24,000,000, to be financed by the issuance of parity bonds' under the University's Campus Life Auxiliary Enterprise Support System.

1 At a meeting of the board as a Committee of the Whole on March 14, the trustees considered this recommendation, in, particular, the list of projects, in some detail. Prior to acting on the recommendation on Marcn 15, the board received comments from chancellors and other