university of illinois - UIHistories Project

956 BOARD OF TRUSTEES [October 29
Report of Comptroller
Men's Residence Halls Revenue Bond Fund of 1957— Construction
(Authorized by Board of Trustees resolution of May 28, 1957)
Purchase
$837,000 U. S. Treasury certificates, 3^4, per cent, due December I,
1957 $837 523 13
485,000 U. S. Treasury bills, due October 31, 1957 483 827 92
82,000 U. S. Treasury certificates, 35^ per cent, due December 1,
1957 82 012 81
147,000 U. S. Treasury certificates, 4 per cent, due August I, 1958.. 146 931 09
Women's Residence Halls Revenue Bond Fund of 1956 — Construction
(Authorized by Board of Trustees resolution of September 18, 1956, minutes page
52)
Purchase
$400,000 U. S. Treasury bills, due October 31, 1957 $399 033 33
Dormitory Revenue Bond Fund of 1956 — Sinking Fund
(Authorized by Board of Trustees resolutions of March 23, 1956, minutes page
982, and September 18, 1956, minutes page 49)
Purchase
$23,000 U. S. Treasury Certificates, 4 per cent, due August I, 1958 $23 000 00
Dormitory Revenue Bond Fund of 1952 — Reserve
(Authorized by Board of Trustees resolution of February 22, 1952, minutes page
1372)
Purchase
$170,000 U. S. Treasury bonds, 2}4 per cent, due March 15, 1970 $147 900 00
Dentistry-Medicine-Pharmacy Building Revenue Bond Fund — Construction
(Authorized by Board of Trustees resolution dated March 18, 1951, minutes page
632)
Purchase
$10,000 U. S. Treasury bills, due August 22, 1957 $9 931 56
10,000 U. S. Treasury bills, due September 5, 1957 9 916 58
10,000 U. S. Treasury bills, due September 19, 1957 9 950 2-
10,000 U. S. Treasury bills, due October 17, 1957 9 973 3'
10,000 U. S. Treasury bills, due October 31, 1957 9 960 25
10,000 U. S. Treasury bills, due November 14, 1957 9 945 10
Dentistry-Medicine-Pharmacy Building Revenue Bond Fund — Auxiliary
(Business Manager of Chicago Departments authorized by Board of Trustees at
meeting of December 16, 1953, minutes page 1191)
Purchase
$60,000 U. S. Treasury bills, due October 31, 1957 $59 490 00
This report was received for record.
PAYMENT ON PLUMBING CONTRACT FOR ADDITIONS TO
MEN'S RESIDENCE HALLS
The Secretary presented the following report from the Executive Committee.
Prior to completion of the construction of Men's Residence Halls Additions
3 and 4, the contractor for the plumbing work, Edward M. Brumit, doing business
as B. & E. Plumbing and Heating, became involved in financial difficulties which
made it necessary to enter into an arrangement to insure payment for the materia.
and labor bills he would incur in completing his work by making payments, which
would otherwise be due him under the contract, to a third party who in turn toot
care of the claims.
With the exception of minor corrective work which the University has been
doing itself, the work covered by the contract has been completed.