Repository: UIHistories Project: Board of Trustees Minutes - 1978 [PAGE 687]

EXTRACTED TEXT FROM PAGE:

674

BOARD OF TRUSTEES

[ J u n e 21

lease also provider for the University to receive one-eighth of any oil or gas discovered or an equivalent dollar share of the product based on market price. T h e lease also provides a $500 advance payment for partial surface damages for each oil well drilled in addition to a standard crop damage clause. The manager of the University Trust Farms has recommended that the University enter into the lease,- inasmuch as farming operations will not be hampered substantially and additional income will be provided. T h e chancellor at the Urbana-Champaign campus has recommended that the comptroller and secretary be authorized to execute the lease as described. I concur. O n m o t i o n of M i s s W i n t e r , a u t h o r i t y w a s g i v e n as r e c o m m e n d e d .

Purchases

(42) The president submitted, with his concurrence, a list of purchases recommended by the directors of purchases and the vice president for administration. T h e list of purchases was presented in two categories: purchases from appropriated funds (i.e., from state appropriations to the University) and purchases from institutional funds. T h e latter term designates funds received by the University under contracts with the United States government, private corporations, and other organizations; grants from foundations, corporations, and other donors; and University revolving funds authorized by law. T h e total amounts of these purchases were: From Appropriated Recommended Funds $ 401 229 13 90 03 the the

From Institutional Funds Recommended 13 476 425 Grand Total $13 877 655 A complete list of the purchases, with supporting information, including quotations received was sent to each member of the board in advance of meeting, and a copy is being filed with the secretary of the board for record.

T h e s t u d e n t advisory vote w a s : Aye, Miss Conlon, M r . Overstreet, Miss W i n t e r ; no, none. O n m o t i o n of M r . F o r s y t h , t h e p u r c h a s e s r e c o m m e n d e d w e r e a u t h o r i z e d b y t h e following v o t e : A y e , M r . F o r s y t h , M r . H a h n , M r . H o w ard, M r . Lenz, M r . Livingston, Mrs. Shepherd, M r . Velasquez; no, n o n e ; absent, M r . Neal, Mrs. R a d e r , Governor T h o m p s o n .

Report of Purchases Approved by the Vice President for Administration

(43) T h e vice president for administration also submitted a report of purchases approved by him on recommendation of the directors of purchases in amounts of $7,500 to $10,000 and a report of bids taken in behalf of the Capital Development Board. A copy of this report is filed with the secretary. T h i s r e p o r t w a s r e c e i v e d for r e c o r d .

The Comptroller's Monthly Report of Contracts Executed

(44) T h e comptroller's monthly report of contracts executed was presented.