Repository: UIHistories Project: Board of Trustees Minutes - 1978 [PAGE 608]

EXTRACTED TEXT FROM PAGE:

1978]

UNIVERSITY OF ILLINOIS

595

sistent with University specifications were received from four of the banks. It appears that the Champaign National Bank in Champaign offers the most advantageous proposal for providing the service as measured by the lowest net cost to the University. Initially, the credit card usage will be confined to the operations of the Assembly Hall, Krannert Center for the Performing Arts, and the University Press. If successful in these operations, its use may be extended to other auxiliary enterprise activities at Urbana. The chancellor at the Urbana-Champaign campus has recommended that authorization be given to utilize credit cards as described. Therefore, I recommend that the comptroller and the secretary be authorized to execute contracts and establish appropriate bank accounts with the Champaign National Bank in Champaign to provide services of Master Charge and VISA to the University for an initial period covering the balance of the fiscal year ending June 30, 1978, with an option to renew the arrangement for FY 1979 under the same prices, terms, and conditions, based on a continuing need and the availability of funds. It is also recommended that the comptroller be authorized to exercise such an option. It is further recommended that the following resolutions be adopted.

Resolution of the Board of Trustees

(Authority to Open Deposit Account) I hereby certify that I am the duly elected and qualified Secretary of The Board of Trustees of the University of Illinois and the keeper of the records and corporate seal of said Corporation and that the following is a true and correct copy of a resolution duly adopted at a regular meeting of the Board of Trustees of said Corporation held in accordance with the Bylaws of said corporation at Chicago on the 12th day of April 1978. Be It Resolved, that Champaign National Bank, Champaign, Illinois, be, and it is hereby, designated a depository of this corporation and that funds so deposited may be withdrawn upon a check, draft, note, or order of the corporation. Be It Further Resolved, that all checks, drafts, notes, or orders drawn against said account be signed by any one of the following: Name Title R. W. Zimmer Assistant director of business affairs Ray D. Sanden Collection specialist Debra K. Goodin Accountant Harold G. Poindexter Director of business affairs and countersigned by any one of the following: Name Title Michael L. Crowell Chief accountant Robert H. Suter Assistant chief accountant Charles O. Parvin Supervising accountant whose signatures shall be duly certified to said Bank, and that no checks, drafts, notes, or orders drawn against said Bank shall be valid unless so signed. Be It Further Resolved, that said Bank is hereby authorized and directed to honor and pay any checks, drafts, notes, or orders so drawn, whether such checks, drafts, notes, or orders be payable to the order of any such person signing and/or countersigning said checks, drafts, notes, or orders, or any of such persons in their individual capacities or not, and whether such checks, drafts, notes, or orders are deposited to the individual credit of the person so signing and/or countersigning said checks, drafts, notes, or orders, or to the individual credit of any of the other officers or not. This resolution shall continue in force, and said Bank may consider the facts concerning the holders of said offices, respectively, and their signatures