'Pi!A IT5MS. c o nt i nued I A. (Continued) October 19, 1939 Christ man to be paid for contract on pavilion ex cept §1500* ^ame com mittee to act for Board. On motion of Mr* Berkey, seconded by Mr, Brody, it was voted to authorize the committee consisting of Mr. Brody, President Shaw and Secretary Hannah, to make the best possible arrangements so that a copper roof may be included on the visible portions of the Gymnasium and Auditorium at the lowest cost possible. This Committee is authorised to act for the Board. 5* The work on the livestock judging pavilion is practically completed 'with the exception of the completion of the heating lines across the bridge which cannot be installed until the new Farm Lane bridge is completed„ The Christman Company requests that all of the money due them under their contract be now paid to them with the exception of §1400 which can be retained to insure the completion of the work. It is estimated that the total cost of the work yet to be done does not exceed §780.00. A resolution approving this payment is re quired* On motion of Mr. Berkey, seconded by Mr. Brody, it was voted to approve the payment stated above. 6. Recommendation that the same Committee (President Shaw, Mr. Brody and Secretary 'Hannah) be continued to act for the Board in handling ?WA matters in the interim until the next regular Board meeting. On motion of Mr. Halstead, seconded by Mr. Jak^ay, it was voted to approve the above reeommenda- j ^0 1^ Approval installation; strainer girlsT dorm Approval of ;: - - of strainer ; in steam ser vice Music Biag. 7. Resolution of the State Board of Agriculture approving the installation of a strainer in the main steam service line to the girls' dormitory at an addition to the contract price of 808.89* 8. Resolution of the State Board.of Agriculture aDproving the omission of a strainer in the steam service line to the Music 'Building, at a reduction in the contract price of 4>o2.00. 0n motion of Mr. Hal stead, seconded oj Mr. Jakv/ay, it was voted to approve the items 7 and 8* I The beard meeting adjourned at 3:00 P.M. K^*. President Secretary Minutes of the Meeting of the State Board of Agriculture November 20, 1939 ^resent: Mr.. 3. H..Halstead, chairman: Mr. Berkey, Mr. Downing, Mr. Jakway, Mrs. Masselink; Dr. Elliott: President Shaw; Treasurer Wilkins; and Secretary Hannah, Absent: Mr. Brody The meeting was called to order at 10:10 A.M. The minutes of the previous meeting were approved. LEAVES AM) Ai^Oli^MElNTS j_>eav* 1. Leave of absence w i th pay for J. W-. Thayer, J r ., I n s t r u c t or and Research A s s i s t a nt in Farm Crops, from January 1 to March 31 > 1940, so t h at he may c o n t i n ue h is study f or t he d o c t o r a te degree at t he U n i v e r s i ty of Minnesota* 2. Request from P o r r e st Fansher, who holds t he American J e r s ey C a t t le Club F e l l o w s h i p, f or an e x t e n s i on of h is l e a ve u n t il December 3 1, 1939* He was' g r a n t ed a l e a ve without pay from August 1 to October 3 1, 1939, at- t he September meeting of t he Board. T r a n s f er 01 iiarv E i c h er 3. Transfer of Miss Mary Eicher from the Central Stenographic Office to the position of sten ographer in the Military Department at a salary of 81340 per year, effective November 1, 1939. Miss Eicher has been receiving $1320 per year. She will replace Mildred Erickson (salary 81340) whose resignation has been accepted. Aunointments 4. Appointment of Miss Coletta 11. Snohr as general assistant in the Library at a salary of $1500 per year, effective January 1, 1940. 5. Temporary appointment of Le J. Braamse as Extension Specialist in Soil Conservation at a salary, of S3100 per year (¢2500 from Federal Soil Conservation Service and ^600 from Federal Smith- Lever Soils funds) for the period from December 1, 1939 to August 15, 1940, Mr. Braamse has : , LEAVES AMD APPOim'IENrS 5. (Continued) November 20, 1939 i I j j j I been employed as county agricultural agent since 1928 and his present salary is $3100* He willj replace Paul Barrett• who was granted leave without pay for one year beginning August 16, 1939 \ i (salary $3000)- j Appointment 6* Appointment of Clyne S. Shaffner as half-time graduate assistant in Poultry Husbandry at a j salary of §4-00 for the spring and winter terms, effective January 1, 1940, Mr. Shaffner will j j replace W. V. G-olding who will graduate at the end of the fall term. ?•• Transfer of George. Landsburg from.County Club Agent in Saginaw to County Agricultural Agent I Transfer Geo in Saginaw County at the same salary of $2300 per year, effective December 1, 1939» Mr.- Lands-j Landsburg burg will replace Mr. Braamse. | On motion of Mr. Berkey, seconded by Mr. Jakway, it was voted to approve the Leaves and /Appointments;- '• •'• I : • i TRAVEL Travel •1. Railroad coach fare only $26.90) for John Clark to attend the meeting of the National Council of Teachers of English in New York-City on/November. 23-25 • 2. .Railvray fare and pullman for V. H. Noll to attend the meeting of the Central Association of Science and Mathematics Teachers in Chicago on November 24 and 2$. Dr, Noll also will attend the National Institutional Teacher Placement Association to contact candidates for the new position in teacher placement. 3.-. Expenses not to exceed 825 for M. D. Pirnie to attend the annual meeting of the Wilson Orni thological Club at Louisville, Kentucky, on November 24 and 25; payable from Sanctuary funds. 4« First-class railroad fare-only for R. G. Hill to attend the Midwest Wildlife Conference at St. Paul, Minnesota, on December 1 and 2; payable from Extension funds. Referred to Administrative Group with power. 5* Railroad coach mileage only (§26.92} for B. T. Ostenson, to attend the Midwest Wildlife Con ference at St.. Paul, Minnesota, on December 1 and 2» Referred to Administrative Group with power, I I I 6. Pull expenses for E. R. Pettigrove to take the Crops Judging Team to the contest at the Kansas City Royal Exposition at Kansas City, Missouri, on November 2?, and to the contest at the In ternational Hay and Grain Show in Chicago on December 1 and 2. Expenses for Mr. Pettigrove and for the five members of the team are to be paid from the Farm Crops Judging Team revolving ; fund. • • :/ \ ^ 7» Pull expenses for P. T. Mitchell to attend the National Interfraternit3/ Conference inIfew York 1 City on December 1 and 2. I 8. Pull expenses for Ralph H. Young, C. W. Bachman, J./H. Kobs, B. P.; Van Alstyne,: L. L. PrimodigJ P. A. Collins, L, D. Burhans, and R. C. Huston to attend the Annual Western Conference meeting J I and Pootball Coaches meeting at the Hotel Sherman in Chicago on December 2, 3/ and 4* Referred to Administrative Group with power. j 9. Pull expenses for Joseph Holsinger and Thomas H. King to attend the Annual Western Conference I j meeting and the Pootball Coaches meeting in Chicago on December 2-4* Referred to Administrative Group with power. 10. Pirst-class railroad mileage only for a representative of the College to attend the Annual j \ Meeting of the American Society of Mechanical Engineers in Philadelphia on December 4-7* A student from Michigan State won the National Student award this year. j. 11. Mileage on one car for members of the Dairy Department to attend the American Butter Institute j in Chicago on December 5 and 6; payable from Dairy Extension budget. • i 12. Pirst-class railroad mileage for Dr. Donald Hayworth to attend the annual conference on the j Use of Radio in Education in Chicago from December 7~9« Dr.Hayworth and Mr. Barnhart will "j both attend the meeting on this allowance. 13« Pull expenses for G. A. Brown and G. A. Branaman for a trip to Chicago from December 5-7 to j- purchase two purebred beef cattle sires for the college herd. 14. Mileage on one car for members of the staff of the Animal Pathology Department to attend the Conference of Official Workers in Animal Diseases and the U.# S. Livestock Sanitary Association : j meeting from December 5-8 in Chicago. 15. Pirst-class railroad mileage only for Dr. J. P. Hutton to attend the meeting of the U. S. Live-; stock Sanitary Association in Chicago during the week of December 4. A a #** TRAVEL, continued November 20, 1939 Travel .16.. Mileage on one car for H. J. Stafseth and Dean Giltner and maintenance expenses for Dear- Gilt ner to attend the Conference of Official Workers on Animal Diseases and the U. S. Live stock Sanitary Association meeting in Chicago from December 5-3* Dean Gilt ner will also attend a meeting of the deans of veterinary colleges. 17- Full expenses for Alvin Johnson to be in Chicago on December 1 and 2 to set up the Michigan entries at the International Hay and Grain Show; payable from Michigan Crop Improvement Association funds. 18, Full expenses for G-. F. Wenner to be in Chicago from December 5-10 to supervise the packing and returning of the Michigan exhibits at the International Kay and Grain Show; payable from Michigan Crop Improvement Association funds. 19. First-class railroad mileage and pullman to Chicago and railroad coach mileage for return trip to Lansing for Dean E. L. Anthony to attend the meetings of the American-.Society of Animal Production in Chicago on November 30 to December 3* Dean Anthony is on the program for Friday, December 1.' 20.' Mileage on one car for members of the Agricultural Chemistry Department, including G. K. Davis, C. W. Duncan, and E. B. Hale, to attend the meetings of the American Society of Ani mal Production in Chicago on December 2 and 3; payable from Agricultural Chemistry'•Depart ment funds• Dr. Davis and Mr. Hale will present papers at the meeting. 21* First-class railroad mileage only for C. L. Cole, V. A. Freeman, and 1. E.. Biakeslee to attend the meetings of the American Society of Animal Production in Chicago on December I and 2, and maintenance expenses for the additional time spent in Chicago supervising the showing of the College livestock. 22. Full expenses for H. ?. Moxley and E. L. Benton to attend the International Livestock Ex position in Chicago from November 29 to December 9* These men will be in charge of live- stock being exhibited by Extension club members throughout the state. 23« Full expenses for Ralph Hudson, John Carter, John MacAllan, and Andrew Q,uirrie to accompany and handle the exhibit of horses at the International Livestock Exposition in Chicago, November 30 "to December 9; payable from the Horse Revolving Fund. Expenses for Mr. Hudson will be paid in part by the Belgian and Percheron Association. 24. Full expenses for Charles Walker, Marvin Hitchcox, and Robert Kaufman to care for the College exhibits of beef cattle, sheep, and swine at the International Livestock Exposition in Chicago from November 30 to December 9* 25. Full expenses for R. IV. Tenny to accompany and chaperon a group of short course students who will attend the International Livestock Exposition in Chicago from December 2-8; pay able from Short Course funds. 26. First class railroad mileage only for Donald Stark to attend the International Livestock Exposition in Chicago on December 3 and 4*? payable from Extension funds, 27* Full expenses for Harold Larsen, County Agricultural Agent in Mason County, to appear be fore the Joint Congressional Committee on Forestry in Madison, Wisconsin,' on December 18 and 19; payable from Extension funds. 28. Full expenses for B. S. Proulx and James Kelly (president of the Union Board} to act as official delegates at the Annual Conference of the Association of College Unions to be held at the University of Florida at Gainesville from January 4-6, 1940. Expenses will be approximately flOO for each cHegate. Referred to Administrative Group. On motion of Mr. Haistead, seconded by Mr. Berkey, it was voted to approve the Travel requests except items 4> 5> 8 and 9 and 28, which have been referred to the Administrative Group with power to act. MISCKTT.AMEOUS 1. The following recommendation from the Faculty requires Board action: a. That the fees for all off-campus registration of undergraduate students (such as Police Administration and Medical Biology students) with instruction by non- college staff, shall be §5- per term for terms when the student registers for credit, b. That this rule become effective with the Summer Session of 1940. On motion of Mr. Berkey, seconded by Mr. Haistead, it was voted to approve the above recommenda tion with the additional provision that each individual student shall pay to the College the minimum fee of 85.00 plus any additional charge made by the agency offering the Instruction to the college for such instruction. 2. Approval of the 1940 football schedule: Wayne University, home game on September 28, guarantee of $750 with option of 50 per cent gross gate receipts (one-year contract). Huie re: to fees for off campus registration of under- : graduate students. 1940 footbal] schedule ^'proved. IgSCEIXAMCOUS, continued 2. Approval of t he 1940 f o o t b a ll s c h e d u l e, c o n t i n u e d: Michigan U n i v e r s i t y, game at Ann Arbor on October 5> g u a r a n t ee of o n e - h a lf g r o ss g a te r e c e i p ts l e ss o n e - h a lf of expenses* November 20, 1939 1561 Purdue U n i v e r s i t y, home game on October 12, no g u a r a n t e e, 50 p er cent of g r o ss r e c e i p ts f e es and expenses (second game of tvro-^ear c o n t r a c t ). a f t er d e d u c t i on of o f f i c i a l s' •Temple U n i v e r s i t y, night game at P h i l a d e l p h ia on October 18 or 19, g u a r a n t ee of $7500 w i th o p t i on of 50 p er cent g r o ss g a te r e c e i p ts (second game of two-year c o n t r a c t ). Santa Clara U n i v e r s i t y, home game on October 26, g u a r a n t ee of $8000 v/ith an o p t i on of 50 p er cent of net g a te r e c e i p ts j ( f i r st game of f o u r - y e ar c o n t r a c t }. Kansas S t a t e, home game on Nov ember 2, g u a r a n t ee of §5000 w i th o p t i on of 50 per cent g r o ss g a te j r e c e i p ts ( o n e - y e ar c o n t r a c t ). I t he g r o ss g a te r e c e i p ts ( second game of t w o - y e ar c o n t r a c t ). I n d i a n a, game at Bioomington on November 9 t h, g u a r a n t ee of 83500 w i th o p t i on of 50 Per cent of I j j j M a r q u e t t e, game at Milwaukee on Ifovember l 6, g u a r a n t ee of $5000 ' w i th o p t i on of 50 p er cent (second game of t w o - y e ar c o n t r a c t ). V g r o ss g a te r e c e i p ts West Virginia-, home game on November 2 3, gu a r a r ii; ee o^ $4000 w i th o p t i on of 50 p er cent g r o ss g a te r e c e i p ts (second game of t w o - y e ar c o n t r a c t} j j i i On motion of Mr.- Berkey, seconded by Mr. Downing, it v/as v o t ed to approve t he 1940 f o o t b a ll schedule^ w i th t he e x c e p t i on of t he game w i th Wayne, a c t i on on which h as b e en d e f e r r e d. 3» Report to t he Board t h at Mrs.. Vera Blankenburg, s t e n o g r a p h er in t he Department of A g r i c u l t u r al Chemistry7*, who was g r a n t ed l e a ve of absence because of Marie Haskell from the Central Stenographic Office was appointed to this position temporarily, !~e LU~ oi :' j i l l n e ss r e t u r n ed to work on September 181 Chem. jMrs. Blanker^ . £, U L/ JTX& + .* : •: 4. Hequest from Dean Emmons for an adjustment in the salary of Francis Aranyi of the Music De partment with the recommendation that the salary be increased from $2000 to f2400 per year, effective as of September 1, 19393 and to be paid in ten equal installments as at present. l increase m salary Mr. Aranyi : On motion of Mr. Downing, seconded by Mr. Berkey, it was voted to approve the increase in salary for Mr. Aranyi from $2000 to $2400,- the increase of $400 to be charged to the budget of the Music Department. 5. Request for an additional $100 to be allocated to the WRA Museum project operated under the supervision of Mr. Stack. 6. Report that $17«25 was paid to Winfield Russell, employee in the Plumbing Division, as com pensation for time lost because of an injury ..to, hi is foot. 7. Report that $27.50 was paid to E* Penner, employee in the Plumbing Division, as compensation for time lost because of an injury to his wrist. 8. Acceptance of a check for $100 from W. K. Kellogg to be used for the purchase of corn at the Bird Sanctuary. i 9* Acceptance of a grant of $425 from the American Philosophical Society to be used in connection with the project on the inheritance factors of dental caries. The first- quarterly1 payment1 of 8106.25 has 'oeev. receiyed. $425 from Am.. Philos. Soc. 10. Acceptance of a collection of Indian baskets from R. E. Olds. These will be kept in the new museum area on the ground floor of the Auditorium* Indian basket Trom Olds On motion of: Mr* Berkey, seconded by Mr. Halstead, it was voted to approve items 3, 5, 6, 75 8, 9 and 10. 11. Recommendation from Mr. Wilkins that the money paid for fines by students for traffic viola- j j tions be placed into a student loan fund. On motion of Mr. Berkey, seconded by Mr. Halstead, it was voted to approve the above request. 1 1 12. Report of Mr. Berkey on the Question of the establishment of a service center on the campus for on est. of assistance to small communities in the organization of their various educational efforts. (Referred to Mr. Berkey at September Board meeting). Mr. Berkey recommends that action be deferred on this matter at this time. [ service cent On motion of Mr. Berkey, seconded by Mr. Halstead, it was voted to approve Mr. Berkey's report. 13. The Consumers Power Company requested permission to install a counterpoise cable parallel to their electric power line crossing the Kellogg Forestry tract3 at/Augusta, Michigan. Referred to Mr. Ballard, college attorney, and Secretary Hannah for further consideration and re port back to the Board. 14. Mr..Earl Ii. Cress of the Ann Arbor Trust Company appeared before the Board and presented a program, for financing a portion of the Power Plant authorized by the Board at its September meeting. Mr. .ballard, attorney for the Board, approved the various resolutions as to form and: p0 V 7 Sr plant content. Ti j Additional If100 added jto Museum. I Project. SI?.25 time $27.50 16.- ; E. Penner j Acceptance of j |100 from Mr. 1 Kellogg. : Money paid h as fines to be added to student loan fund. j j Action def.".. request 01 Cons. Rower refv to Mr. "Ballard: & Mr. Hannah Approval 02 program f01 financing i ! MISCELLA13EQUS, continued November 20, 1939 ! On motion of Mr. Berkey, seconded by Mr* Downing, it was, voted to approve the following resolu- ! tions: ! a. Resolution-to b or row money to provide funds for the construction, furnishing and equipping of a power plant. | b. Resolution relative to sale of bonds. | e. Resolution relative to the employment of Ann Arbor Trust Company as Fiscal Agent. | d. Agreement employing Ann Arbor Trust Company as Fiscal Agent. \ e. Resolution relative to the employment of Ann Arbor Trust Company as Trustee. j fV Agreement for compensation for Trusteed services. i RESOIAJTION TO BORROW MOMV TO PROVIDE FUNDS FOR THE 00KSTRUCTI0N? FURMSHim AKD EQUIPPING A POWER HLAMT WHEREAS, the facilities at Michigan State College of Agriculture and Applied Science i for providing heat, light, power, and telephone service are greatly inadequate to service the [ many new buildings which has© been and are now being constructed on the campus of said College \ for the use and occupancy of the students attending said College; and WHEREAS, The State Board of Agriculture is, at the present time, required to purchase I I; electric energy to supply the needs of said College for power and light, due to the inability ! of its power plant to furnish the same; and WHEREAS, it is the opinion of The State Board of Agriculture that it is not onl3~ ! necessary that the facilities of said College to furnish heat, light, power and telephone ser- ; vice be increased if said College is to utilize its many new buildings to the best advantage i of its students, but that oj so doing, the saving to this Board through the elimination of : the cost of purchasing electric energy for power and light from outside sources for the use j of said College will more than justify the expenditures necessary to increase said facilities ; to meet the requirements of said College; and WHEREAS, this Board deems it necessary, expedient and proper that it borrow the sum | | of Five Hundred Thousand Dollars ($500,000) through the issuance and sale of its revenue ! bonds, to be used by it to pay necessary costs of construction and equipment and other costs ; incidental to the construction and purchase of necessary facilities to provide sufficient heat, ! light, power and telephone service to meet the requirements of said College; NOW, THEREFORE, BE IT RESOLVED BY TEE STATS BOARD OF AGRICULTURE that it borrow the j sum of Five Hundred Thousand Dollars (¢500,000.00), through the issuance and sale of its bonds | in the aggregate principal emount of Five Hundred Thousand Dollars (§500,000.00) all to be paid I solely from fees to be charged each student attending Michigan State College of Agriculture and j Applied Science, as part of his tuition fee, beginning with the term., of 1939-1940 scholastic. ! year, for the benefits that will inure to said students directly and indirectly from the in- | creased facilities that will result from the expenditure of said funds. Said bonds shall be issued in two series, to be designated as "Michigan State College | of Agriculture and Applied Science Power Plant Bonds, Series A" and "Michigan State College of I Agriculture and Applied Science Power Plant Bonds, Series 3", Michigan State College of Agriculture and Applied Science-Power-Plant Bonds, Series i A, shall be dated December 1, 1939, or such later date as shall be approved by Robert S# Shaw j and John A. Hannah, respectively the President and Secretary of Michigan State College of Agri- : culture and Applied Science, and shall consist of one hundred sixty (160) bonds of the denomina- | tion of One Thousand Dollars (3.,000.00) each, numbered one (1} to one hundred sixty (l60), both i inclusive; Said Power Plant Bonds, Series A* shall bear Interest at the rate of three per cent j [3%) per annum, payable semi-annually on such dates as shall be approved by said officers, and j shall mature serially as follows: 1 1 June December June 1, December June 1, December June December June December June December June December ,. 19a , 19a 1942 , 1942 1943 , 1943 1 1 I 1 1 1 i « i- , 1 = , 1944 , 1945 , 1945 > 1946 1946 1947 1947 £4.000.00 4,000.00 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00 6,000.00 5,000.00 5,000.00 6,000.00 5,000.00 June December June December June December June December June December June December June December 1, 1, 1, 1, — 5 1, 1, „!_ , 1 1 i, 1, 1; I948 1948 1949 1949 1950 1950 I95I 1951 I952 1952 1953 1953 1954 1954 ¢6,000.00 6,000.00 6,000.00 •6,000.00 6,000.00 6,000.00 6,000.00 6,000.00 7,000.00 6,000.00 7,000.00 6,000.00 7,000.00 9,000.00 November 20, 1939 1563- LilSCELLAMEOgS, c o n t i n u ed 14. (Continued) Michigan State College of Agriculture and Applied Science Power Plant Bonds, Series B, Power Plant financing. shall be dated December 1, 1939» or such later date as shall be approved by Robert S. Shaw and John A. Hannah, respectively the President and Secretary of Michigan State' College of Agriculture and Applied Science, and shall consist of three hundred forth (340} bonds of the denomination of One Thousand Dollars (§1,000.00) each, numbered one (1} to three hundred forty (340), both inclusive. Said Power Plant Bonds, Series B, shall bear interest at the rate of three per cent (3/¾} per annum, payable semi-annually on such dates as shall be approved by said officers, and shall mature serially as follows: June 1, December June December June December June December June December June December June December i>: 1, 1> 1, i, 1» i, 1, 1; 1, i, T — 3 1941 1941 I942 1942 1943 1943 1944 1944 1945 1945 1946 1946 1947 1947 1, I 9,000.00 10,000.00 11,000.00 10,000.00 10,000.00 11,000.00 11,000.00 11,000.00 11,000.00 11,000.00 12,000.00 12,000.00 11,000.00 12,000.00 1, 1, .1» 1, 1, June December June December June December June December June December June December June . December J_ , I, 1, 1> -1- 5 1, - 3 1, I94S 1948 1949 1949 1950 1950 1951 1951 1952 1952 1953 1953 1954 1954 1 13,000.00 12,000.00 12,000.00 13,000.00 13,000.00 13,000.00 14,000.00 13,000.00 14,000.00 14,000.00 14,000.00 14,000.00 15,000.00 14,000.00 The principal of and the interest accruing on Michigan State College of Agriculture j and Applied SCBnee Power Plant Bonds, Series A, shall be secured by and paid from fees to j be charged each student attending Michigan State College of Agriculture and Applied Science, j as part of his tuition fee, as hereinafter authorized; and the fees so charged and collected j shall be segregated and used only for the purpose of the '.payment of the principal and interest j on said bonds. The principal and the interest accruing on Michigan State College of Agriculture and j Applied Science Power Plant Bonds, Series B, shall be secured by and paid from fees to be j charged each student attending Michigan State College of Agriculttire and Applied Science, j as part of his tuition fee, as hereinafter authorized: and the fees so charged and j collected shall be segregated and used only for the purpose of the payment of the principal j j and interest on said bonds. On or after June 1, 1941* any and all Power Plant Bonds herein authorized shall be sub-1 ject to redemption on any interest payment date, and all bonds redeemed prior to the date of j maturity shall be redeemable on payment of the face value thereof, together with the amount j of all matured interest coupons and a premium of one per cent {!%}" of the face value thereof.; BE IT FOPffrlEIR SSS0LVSD that Robert S. Shaw, President of The State Board of Agricul- j ture, and John A. Hannah, its Secretary, be and they are hereby authorized, empowered and j'. directed, in the name of The State Board of Agriculture and as its corporate act and deed, j to enter into and execute a Trust Agreement with the Ann Arbor Trust Company, of Ann Arbor, j Michigan, as Trustee, in such form as shall be approved by the firm of Shields, Ballard, j Jennings & Taber, Attorneys for The State Board of Agriculture, providing for the issuance [ I of the bonds herein authorized under the terms herein set forth. BE IT FURTHER RESOLVED' that said officers be and they are hereby authorized, empowered | and directed, in the name of The State Board of Agriculture and as its corporate act and deedj, to execute, sign and countersign the Power Plant Bonds herein provided for; and to agree j to charge, collect, aegregate, and pledge fees to be collected from each student who shall •! attend Michigan State College of Agriculture and Applied Science, as part of his tuition fee,! beginning with the winterterm of the 1939-1940 scholastic year, which in the aggregate will be sufficient to secure and meet all payments of principal and interest on the Power Plant j Bonds herein authorized as the same become payable; and to pay the necessary costs of in- | surance, and to create proper reserves for depreciation of plant and equipment; and said j officers are hereby authorized and directed to perform all acts and deeds and execute all j instruments and documents that they deem necessary, expedient and proper, in connection with |. the borrowing of said Pive Hundred Thousand Dollars (§$00,000.00), and the issuance and sale j of said Power Plant Bonds. \ \ BE IT FURTHER RES0L7ED that said officers, either In said Trust agreement or by the issuance of said Power Plant Bonds, shall not pledge the credit of or create any liability on the part of the State of Michigan, The State Board of Agriculture, or any member of said Board, or any of their successors, and the security for the payment of the bonds herein authorized shall be limited to the fees to be collected from students attending Michigan State College of Agriculture and Applied Science, as herein contemplated. I 1 1 1 1 MISCELLAHEQUS, continued 1 4. (Continued) November 2 0, 1939 BS IT FUHCHER RESOLVED that The State Board of Agriculture shall, beginning with the winter term, of the 1939-1940 scholastic year, charge and collect from each student attend ing Michigan State College of Agriculture and Applied Science, as part of his tuition fee, and until the Poxver Plant Bonds herein authorized are paid in full, a sufficient sum so that there will be, at ail times, funds collected which will be adequate to meet all pay ments of principal and interest on said bonds as the same shall mature and said interest shall become payable; and so that there will be sufficient funds to pay necessary costs of insurance, and to create a reasonable reserve for depreciation of plant and equipment, BE IT lUBTfiER RESOLVED that as said fees are collected from students, as part of their tuition fee, that part which shall be collected to meet payments of principal and interest on Michigan State College of Agriculture and Applied Science Power Plant Bonds, Series A, as the same shall become payable, shall be segregated and set aside in a special fund for that purpose, and the same shall be used for no other purpose; and as said fee is collected from said students, that part which shall be collected to meet payments of principal and interest on Michigan State College of Agriculture and Applied Science Power Plant Bonds, Series B, as the same shall become payable, shall be segregated and set aside in a special fund for that purpose, and the same shall be used for no other purpose; it being the inten tion of this Board that from the fees so charged and collected, there shall'be.two separate funds established, one to secure and assure the payment of the principal and interest on said Series A Bonds as the same shall become payable, and the other to secure and assure all such payments on Series B Bonds as the same shall become payable* BE IT FURTHER RESOLVED that should it develop that Robert S. Shaw, as President of Michigan State College of Agriculture and Applied Science, through illness, absence or other wise, should be unable to perform-the acts that he is herein authorized, empowered and directed to perform, then, in that case,- Charles 0. Wilkins, Comptroller of Michigan State College of Agriculture and Applied Science, is hereby authorized, empowered and directed to perform any and all acts and deeds herein authorized and directed to be performed by said Robert S. Shaw; and any action so taken by said Charles 0« Wilkins shall be as binding on The State Board of Agriculture as if performed by said Robert S* Shaw. BE IT KRTEER RESOLVED that should it develop that John A. Hannah, as Secretary of Michigan State College of Agriculture and Applied Science, through illness, absence or otherwise, should be unable to perform the acts that he is herein authorized, empowered and directed to perform, then, in that case, said Charles 0. Wilkins, Comptroller of Michigan State College of Agriculture and Applied Science is hereby authorized, empowered and directed to perform any and all acts and deeds herein authorized and directed to be performed by said John A. Hannah; and any action so taken by said Charles 0. Wilkins shall be as binding on The State Board of Agriculture as if performed by said John A# Hannah. RESOLUTION 0E THE STATE BOARD 0E AGEICDLTDEE RELATIVE TO S^LE 0E BONDS WHEEtEAS, The State Board of Agriculture has authorized the issuance of Michigan. State College of Agriculture and Applied Science Power Plant Bonds, Series A, of the face value of One Hundred Sixty Thousand Dollars (f160,000.00), and Michigan State College of Agricul ture and Applied Science Power Plant Bonds, Series B, of the face value of Three Hundred Eorty Thousand Dollars ($340,000.00), pursuant to the terms and conditions of a Trust Agreement to be entered into between The State Board of Agriculture and the Ann irbor Trust Company, of Ann Arbor, 'Michigan,' as Trustee, to be dated as of December 1, 1939? which bonds, when sold, will provide sufficient funds to pay all costs of construction and equipment and other costs incidental to the construction and purchase of necessary facilities to provide- sufficient heat, light, power, and telephone service to meet the requirements of Michigan State College of Agriculture and Applied Science; and WHEREAS, it is necessary that said Michigan State College of Agriculture and Applied Science Power Plant Bonds, Series A, be sold at an early date in order to provide funds to pay the costs for that part of the construction work now being carried on, together with paying the costs of a new telephone switchboard and also a new poxver switchboard;: and it is anticipated that said Michigan State College of Agriculture and Applied Science Power Plant Bonds, Series B, will be solo, at such future date as shall be necessary in order to provide funds to pay the costs incidental to the anticipated expansion of the power plant, and that when said funds are needed, the sale of said Series B bonds will be authorized by this Board; MOW, THEREFORE, BE IT RESOLVED that Robert S.Shaw, President of Michigan State College of Agriculture and Applied Science, and John A. Hannah, its Secretary, be and they are hereby authorised to enter into a contract for the sale of said Michigan State College of Agricul ture and Applied Science Power Plant Bonds, Series A, of the face value of One Hundred Sixty Thousand Dollars (|l605000.00) , and to execute, sell and deliver said Power Plant Bonds at a price of not less than one hundred per cent (100¾) of the face value thereof, plus accrued interest. MISOELLAMEOUS, continued 14. (Continued) RESOLUTION OF THE STATE BOARD OE AGRICULTURE RELATIVE TO THE EM PLOYMENT OF ANN ARBOR TRUST COMPANY AS FISCAL AGENT November 25, 1939 t^to I I I • • Power P l a nt f i n a n c i n g. 1VHEEBAS, The State Board of Agriculture desires to construct and equip a Power Plant-oil j the campus of Michigan State College of Agriculture and Applied Science, adequate to provide j sufficient heat/ light, power, and telephone serri.ee "to meet the requirements of said College; j and ] WHEREAS, it will be necessary to borrow the sum of Five Hundred Thousand Dollars (1500,000,00) in order to have sufficient funds to pay the necessary costs of construction and equipment and other costs incidental to the construction and purchase of necessary facilities to provide sufficient heat, light, power, and telephone ..service to meet the requirements of said College; and j IfVEEEEAS, it appears '.desirable that the Ann Arbor Trust Company, a .Michigan Corporation, j of Ann Arbor, Michigan, be employed as Fiscal Agent in connection with the obtaining of said j loan through the issuance and sale of bonds to be paid solely from fees to be charged students j attending-Michigan State College of Agriculture and Applied Science, as part of their tuition j fee, for the benefits which will inure to said students, directly and indirectly, from the in- j j creased facilities that will result from the expenditure cf said funds• M)W, THEREFORE, BE IT RESOLVED that Robert S. Shaw, President of Michigan State College of Agriculture and Applied Science, and John A. Hannah, its Secretary, be and they are hereby authorized and directed to enter into an agreement with the Ann Arbor Trust Company, as Fiscal Agent, to negotiate a loan of Five Hundred Thousand Dollars ($500,000.00} through the issuance and sale of Michigan State College of Agriculture and Applied Science Power Plant Bonds, Series A, of the face value of One Hundred Sixty Thousand Dollars ($160,000*00), and Michigan State College of Agriculture and Applied Science Power Plant Bonds, Series B, of the face value of j Three Hundred Forty Thousand Dollars (8340,000.00}, all to be secured by a pledge of a portion j of student fees charged as tuition, which bonds shall bear interest at the '-rate of three per j' cent \yjo) per annum, and be payable over a period of fifteen (15) years; and to procure all j necessary commitments, legal opinions and rulings, and to secure the approval of all necessary j ! instruments, etc., incidental to the obtaining of said loan. • • ' ' , • I BE IT FURTHER RES0L17ED that said agreement between this Board and said Ann Arbor Trust j Company shall provide that the Board will pay and said Trust Company will accept as compensa- j tion for its services as Fiscal Agent a sum equal to two per cent (2$) of the loan or loans j accepted by this Board upon the commitment of the same; and should said Trust Company be unable; to obtain said loan on terms satisfactory to this Board, it will receive no compensation for ' j the services performed. The details of all loans shall be subject to the final approval of this Board. AGREEBSKD SMPLOYim THIS AGREED made this twentieth day of November A.D. 1939, between the STATE BOARD OF AGRICULTURE, of the State of Michigan, a Constitutional Corporation, and-AMN ARBOR TRUST C0MPAMT, of Ann Arbor, Michigan, a Michigan Corporation, 1 : W IT IT E S S E T H : ", VffiFREAS. The State Board of Agriculture desires to construct and equip a Power Plant ; on the bampus of Michigan State College of Agriculture and Applied Science, adequate to provide; sufficient heat, light, power and telephone service to meet the requirements of said College; I | and WHEREAS, said Board desires to employ as its Fiscal Agent the Ann Arbor Trust Company;1 to negotiate said loan and to secure all necessary commitments, legal opinions and rulings, andj j to draft all necessary instruments, etc., incidental to the obtaining of said loan; and WHEREAS, said Board and said Ann Arbor Trust Company are desirous of fixing the com- } pensation to be paid said Trust Company as Fiscal Agent and for performing the services inci- | dental to the negotiating and obtaining of said loan. HOW, THEREFORE, in consideration of the premises and the mutual covenants herein con- j talned, the parties hereto agree as follows: j 1. The; State Board of Agriculture hereby employs and appoints the Ann Arbor Trust j ] Company, of Ann Arbor, Michigan, as Its Fiscal Agent, to negotiate a loan for said Board in the principal amount of Five Hundred Thousand Dollars (3500,000.00), which sum is to be used In constructing and equipping a Power Plant on the campus of Michigan State College of Agricul-i ture and Applied Science 1 2. It is mutually agreed between the parties hereto that said Ann Arbor Trust Compar^ shall not consummate any loan without first obtaining the written approval of the terms thereof! of The State Board of Agriculture, executed by the President and Secretary. 3. The Ann Arbor Trust Company agrees that it will use Its best efforts to obtain said loan on the terms most favorable to The State Board of Agriculture; and that it will use its best efforts to perform allservlces incidental to the obtaining of said loan, securing proper commitments, obtaining legal opinions and rulings, and the drafting of all necessary instruments, etc., incidental to the obtaining of the said loan. \ J MISCELLANEOUS, continued 14. (Continued) November-20,.-1939 4. It is mutually agreed between the parties hereto that The State Board of Agriculture will pay to said Ann Arbor Trust Company, and said Ann Arbor Trust Company will accept as full compensation for its services as said Fiscal Agent and for charges incurred for legal opinions and drafting all necessary instruments, etc. a sum equal to two per cent (¾¾) of any loan ob tained for and accepted by said Board, upon the consummation of the same; and should said Ann Arbor Trust Company be unable to obtain a loan on terms satisfactory to The State Board of Agriculture, it will receive no compensation for the services performed, 5. It is mutually agreed between the parties hereto that the compensation to be paid to the Ann Arbor Trust Company, as Fiscal Agent, as herein provided for, shall constitute compensation to said Trust Company and all persons employed by it for any services -performed by it in connection with the disbursing of funds borrowed or relating to the construction work herein contemplated, whether said services shall be performed pursuant to the terras of a Trust Agreement under which said sum is borrowed, or otherwise; and said Ann Arbor Trust Company agrees that it will accept said compensation in full payment of said services, 6. It is mutually agreed between the parties hereto that this Agreement may be'terminated at any time upon written notice* IK WITNESS WHEREOF, The State Board of Agriculture has caused these presents to be signed by its President, attested by its Secretary and sealed with Its seal; and the Ann Arbor Trust Company" has caused these presents to be signed by Its Executive Vice President, attested by its Secretary, and sealed -v/ith its seal, as of the day and year first above written. RESOLUTION OF THE STATE BOARD OF AGRICULTURE RELATIVE TO THE EMPLOIiEENT OF Aim ARBOR TRUST COMPAQ AS TRUSTEE. WHEREAS, The State Board of Agriculture has authorized the execution of a Trust Agreement with the Ann Arbor Trust Company, as Trustee, to be dated as of December 1, 1939, pursuant to which Michigan State College of Agriculture and Applied Science Power Plant Bonds, Series A, of the face value of One Hundred Sixty Thousand Dollars ($160,000.00} and Michigan State College of Agriculture and Applied Science Power Plant Bonds, Series B, of the face value of Three Hundred Forty Thousand Dollars ($340,000.00) are to be issued and sold to provide suffi cient funds to pay all costs of construction and equipment and other costs incidental to the construction and purchase of necessary facilities to provide sufficient heat, light, power, and telephone service to meet the requirements of Michigan State College of -Agriculture and Applied Science; and WHEREAS, The State Board of Agriculture desires to fix the compensation to be paid said Ann Arbor Trust Company for its services under said Trust Agreement; NOW, THEREFORE, BE IT RESOLVED Si THE STATE BOARD OF AGRICULTURE that Robert S. Shaw, President of Michigan State College of Agriculture and Applied Science, and John A. Hannah, its Secretary, be and they are hereby authorized and directed to execute on behalf of The State -board of Agriculture, and as its corporate act and deed, the agreement hereto attached and made a part of the minutes of this meeting, which employs -said Ann Arbor Trust Company as Trustee under the Trust Agreement heretofore referred to, and which fixes its compensation for the services to be performed. AGREEMENT FOR CQMPE1BATIGH FOR = TRUSTEE'S SERVICES THIS AGREEMENT, made this twentieth day of November, A.D. 1939, between THE STATE BOARD OF AGRICULTURE, a Constitutional Corporation, and ANN ARBOR TRUST COMPANY, a Michigan Corpora tion, of Ann Arbor, Michigan, HI N E S S E T E : WHEREAS, The State Board of Agriculture and the Ann Arbor Trust Company have entered in to a certain Trust Agreement dated as of the first day of December, A. D. 1939, in connection with the Issuance and sale of Michigan State College of Agriculture and Applied Sconce Power Plant Bonds, Series A, of the face value of One Hundred Sixty Thousand Dollars (|l60,000.00) and Michigan State College of Agriculture and Applied Science Power Plant Bonds, Series B, of the face value of Three Hundred Forty Thousand Dollars ($340,900.00), for the purpose of obtaining sufficient funds to pay necessary costs of construction and equipment and other costs incidental to the construction and purchase of necessary facilities to provide sufficient heat, light, power, and telephone service to meet the requirements of Michigan State College of Agriculture and Applied Science; and VffiSREAS, The Stats Board of Agriculture and the Ann Arbor Trust Company are desirous of fixing the compensation to be paid to said Trust Company by said Board for performing the services as Trustee under said Trust Agreement; NOV/, THEREFORE, in consideration of the premises and the mutual covenants herein con tained, the parties hereto agree as follows: The State Board of Agriculture agrees to pay to the Ann Arbor Trust Company for the performance of the services required of it under said Trust Agreement in accordance with the schedule hereinafter set forth: and the Arm Arbor Trust Company agrees to accept as full com pensation for the services performed under said Trust Agreement the various sums set forth in said schedule: (a) Annual Fee as Trustee: ¢100.00 (Ordinary services of Trustee other than for which compensation is expressly provided). MISCELLANEOUS, continued 14. (Continued) November 20, 1939 1561; (b) Redemption and purchase of Power Plant Bonds: For the redemption-at maturity or by call as a whole of the entire amount outstanding, 1/10 of 1% of the principal of Power Plant Bonds so redeemed. For the optional calling for redemption of less than all outstanding Power Plant Bonds, pursuant to the. Trust Agreement, 1/10 of 1$ of the principal amount of Power Plant Bonds actually redeemed, within a minimum fee of #25-00 per operation. .'(c) Paying;Agent for coupons: For the payment of interest, 1/2 of 1$. of the principal sum deposited for such payment. : (d) Transfer Agent (Registration) of Power Plant Bonds: (e) For registering principal only, 30 cents for each #1,000.00 bond. Extraordinary Services: For performing any services not contemplated at the time of the execution of the Trust Agreement, the fee to be determined by appraisal in an amount, to ; fit the;services. ';': (if) : 'Closing' Fee: •• i i Power Plant financing. For this service, the exact charge should depend on the value of the final services rendered in the closing of the trust, 'the'minimum'fee to be $25-00- the maximum fee to be vlOO.00. j \ I It is mutually agreed between the parties hereto:that the-compensation above provided j for shall not be considered as including the services performed by the Ann-Arbor-Trust Com- I pany in connection v/ith negotiating the loan, securing ••commitments, obtaining legal opinions, '•• j drafting instruments, etc., but only for such services as said Trustee shall perform under | I and by reason of said Trust Agreement. lii WITKESS WHEREOF, The State Board of Agriculture has caused these presents to be signed I j by its President, attested by its Secretary, and sealed v/ith ;its seal; and the Ann Arbor Trust Company, of Ann Arbor, Michigan, has caused these presents to be signed by its Fxecu- j: tive Vice President, attested by its Secretary, and sealed v/ith its seal, as of the day and j j year first above written. 15. Mr* Earl E. Cress of the Ann Arbor Trust Company-recommended to the Board the refinancing of i the bonded indebtedness of the five operating'dormitories, viz: Mary Mayo Hall, Sarah Lang- j of dormi- don V/illiams 'Hall, Louise H. Campbell Hall, Stevens T. Mason Hall and.T. C.Abbot Hall. Mr. | tories. Cress reported that he felt the time v/as opportune to refinance these issues at jjo interest | at a saving to the ^oarci of not less than ^72,000 ana recommended proceeding on the basis \ ; of one :dormitory, bond issue covering all-dormitories; to be sold at par or more s.t "an interest ! rate cf 3 per cent* On this basis the entire issue v/ill be retired v/ithin ten years and if ! earnings continue at the present rate possibly in as short a period as seven years. On motion of Mr. Berkey, seconded by Mr. Jakv/ay, it v/as voted to approve subject to approval of Ivir. Ballard-'the follov/ing resolutions: • a. Resolution to borrov/ money to retire outstanding obligations. b. Resolution to furnish light, heat and v/ater. •c. Resolution relative to sale of bonds. 1. Resolution relative to the employment of Aim Arbor Trust Company as Fiscal Agent. e. Agreement employing Ann Arbor Trust Company as Fiscal Agent. f. Resolution relative to the employment of Ann Arbor Trust Company as Trustee. g. ' Agreement for compensation for Trustee's services. RESOLUTION OF THE STATE BOARD OF AGRICULTURE RELATIVE TO 30RR0WIMJ "FUNDS: TO. RETIRE OUTSTANDING OBLIGATIONS 1 1 ; :ffiiEREAS? The S t a te Board of A g r i c u l t u r e; under t he terms and c o n d i t i o ns of a c e r t a in Trust j Agreement dated January! 1 1 ,: 1937, I s s u ed and sold t he f o l l o w i ng d e s c r i b ed bonds: Michigan S t a te | College of A g r i c u l t u re and Applied Science Dormitoiy Revenue Bonds of t he face v a l ue of Three Hun- j dred Twenty-five Thousand D o l l a rs .(-$325,000.00), v/hich bonds b e ar date of February 1, 1937 > mature j s e r i a l l y, and bear i n t e r e st at t he r a te of t h r ee per cent ( 3 f j p er annum, of which bonds, bonds of |. ! t he face value of Two Hundred Twenty-nine Thousand D o l l a rs (8229,000.00) a re nov/ o u t s t a n d i n g; Michigan S t a te College of A g r i c u l t u re and Applied Science Dormitory Revenue Bonds of t he face v a l u e; of Two Hundred F i f ty Thousand D o l l a rs ( # 2 5 0 , 0 0 0 , 0 0 ), v/hich bonds bear d a te cf February 1, 1937, mature s e r i a l l y, and bear i n t e r e st at t he r a te of t h r ee and o n e - h a lf p er cent of which bonds a re nov; o u t s t a n d i n g; and Michigan S t a te College of A g r i c u l t u re and Applied Science j Dormitory Revenue Bonds of t he face v a l ue of One Hundred S e v e n t y - f i ve Thousand D o l l a rs (S175,000.00} v/hich bonds bear d a te of F e b r u a r y : 1, 1937, mature s e r i a l l y, and bear i n t e r e st at t he r a te of t h r ee •'. and t h r e e - q u a r t e rs p er cent [3-3//S) Hundred S i x ty Thousand D o l l a rs a re nov/ o u t s t a n d i n g; and per annum, of v/hich bonds, bonds of t he face v a l ue of One (3^¾} per a n n u m , • a l l. j | ..568 -• . . : . ., i MISCELLANEOUS, continued • j 15. (Continued) November 20, 1939 Resolutions relative to borrowing funds to retire out standing ob ligations ; ! \ j IAESREAS, The State Board of Agriculture, under the terms and conditions of a cer- tain Trust Agreement dated as of the first day of August , 1938? issued and sold Michigan State College of Agriculture and Applied Science Men's Dormitory Revenue Bonds, Series II, of the face value of Sight Hundred Thirty Thousand Dollars (8830,000.00), which bonds bear date of August 1, 1938, mature serially, and bear interest at the rate of three and one- half per cent (3¾¾ per annum, of which bonds bonds of the face value of eight Eundred Eighteen Thousand Dollars (3818,000.00) are now outstanding; and VJKEREAS, The State Board of Agriculture, under the terms and conditions of a cer tain Trust Agreement dated as of the fifteenth day of September, 1938, issued and sold Michigan State College of Agriculture and .Applied Science Girls' Dormitory Revenue Bonds, Series II, of the face value of Three Hundred Dollars (§300,000.00) which bonds bear date of September 15, 1938, mature serially, and bear interest at the rate of three and one- half per cent (3f/S) per annum, all of which bonds are now outstanding; and WHEREAS, The State Board of Agriculture is desirous of refinancing the obligations above described on more advantageous terras ? and deems it necessary and expedient that said Board borrow, through the issuance and sale of Dormitory Revenue Bonds, the sura of One Million Seven Eundred Twenty-five Thousand Dollars (§1,725,000.00) to be used to call and redeem the aforementioned bonds; HOW, THEREFORE, BE IT RESOLVED BY THE STATS BOARD OF AGRICuLTDKE that it borrow the sum of One Million Seven Hundred Twenty-five Thousand Dollars (81,725,000.00), through the issuance and sale of Dormitory Revenue Bonds in the aggregate principal sum of One Million Seven Hundred Twenty-five Thousand Dollard (31.725,000.00), all to be paid solely from gross rents to be collected from students of Michigan State College of Agriculture and Applied Science who shall reside and occupy rooms in the following dormitories now in operation on the campus . of Michigan State College of Agriculture and Applied Science; Maxy Mayo, Sarah Williams, Mason and Abbot Halls, and Campbell Hall, and from the net in come to be derived from the operation of the dining rooms operated in conjunction with said dormitories. Salci Dormitory Revenue Bonds shall be Issued in one series, to be designated as •'^Michigan State College of Agriculture and Applied Science Dormitory Revenue Bonds, SeriesI". Michigan State College of Agriculture and Applied Science Dormitory Revenue Bonds, Series I; shall be dated December 15, 1939> or such later date as shall be approved by Robert S. Shaw, President of Michigan State College of Agriculture and Applied Science, and John A. Hannah, its Secretary, and shall consist of seventeen hundred twenty-five (1725) bonds of the denomination of One Thousand Dollars ($1,000,00} each, numbered one (1} to seventeen hundred twenty-five (1725), both inclusive. Said Dormitory Revenue Bonds shall bear interest at the rate of three per cent per annum, payable semi-annually on the fifteenth day of June and December in each year, and shall mature serially as follows: \3ft) June December June December June December June December June December 15, 15, 15, 15, 15, 15, 15, 15, 15, 15, 1940 1940 1941 1941 1942 1942 1943 1943 1944 1944 s 74,000.00 75,000.00 76,000.00 78,000.00 78,000.00 81,000.00 83,000.00 S'3,000.00 85,000.00 June December June December June December June December June December 15, 1945 15, 1945 15, 1946 -LP, 1^40 15, 1947 15," 1947 15, 1948 15, 194S 15, 1949 15, 1949 I 86,000.00 87,000*00 89,000.00 90,000.00 91,000.00 93,000.00 94,000.00 95,000.00 97,000.00 110,000.00 On or after the fifteenth day of December, 1940 any and all Dormitory Revenue Bonds herein authorized shall be subject to redemption on any interest payment date, and all bonds redeemed prior to the date of maturity shall be redeemable on payment of the face value thereof, together with the amount of all matured Interest coupons and a premium of not more than two per cent (¾¾} of the face value thereof. BE IT FURTHER RESOLVED that Robert S. Shaw. President of Michigan State College of Agriculture and Applied Science, and John A. Hannah, its Secretary, be and they are hereby authorized, empowered and directed, in the name of The State Board of Agriculture and as its corporate act and deed, to enter Into and execute a Trust Agreement with the Ann Arbor Trust Company, of Ann Arbor, Michigan, as Trustee, In such form, as shall be approved by the firm of Shields, Ballard, Jennings & Taber, Attorneys for The State Board of Agriculture, providing for the issuance of the bonds herein authorized, under the terms herein set forth. BE IT ITJRTHBR RESOLVED that said officers be and they are hereby authorized, empowered and directed, in the name of The State Board of Agriculture and as its corporate act and deed, to execute, sign and countersign the Dormitory Revenue Bonds herein provided for; and to pledge the gross room rents collected from students attending Michigan State College of Agri culture and Applied'Science who shall reside and occupy rooms in the following dormitories on the campus of said College: Mary Mayo, Sarah Williams, Mason and Abbot Halls and Campbell Hall, together with the net income to be derived from the operation of said dormitories; and said officers are hereby authorized and directed to perform all acts and deeds and execute all instruments and documents that they may deem necessary, expedient and proper, in connec tion with the borrowing of said 6ne Million Seven Hundred Twenty-five Thousand Dollars (#1,725,000..00), and the issuance and sale of said Dormitory Revenue Bonds* MoYember 20, 193V .see MISCELLANEOUS, cont inued 15V (Continued) BE IT FOHTHER RESOLVED that said officers, either in said Trust Agreement or by the issuance of said Dormitory Revenue Bonds, shall not pledge the credit of or create any lia bility on the part of the State of Michigan, The State Board of Agriculture, or any member of said Board, or any of their successors, and the security for the payment of the bonds herein authorized shall be limited to the gross room rents and net income of the dormitories above named, as herein contemplated, BE IT FURTHER RES0L7ED that said officers be and they are hereby authorized, em- j powered and directed, for an in the name of The State Board of Agriculture and as its corporate actand deed, to perform all acts, give such notices, and execute such instruments as are nec essary to call and redeem all outstanding Michigan State College of Agriculture and Applied Science Dormitory Revenue Bonds, Michigan State College of Agriculture and Applied Science Men's Dormitory Revenue Bonds, Series II, and Michigan State College of Agriculture and Applied Science Girls? Dormitory Revenue Bonds, Series II; and they are hereby authorized and directed to call and redeem said bonds in accordance with the provisions of the various Trust Agreements pursuant to which said bonds were issued and sold; and to perform such other acts and deeds as are necessary, expedient and proper to retire any existing indebtednesses created through the issuance and sale of said bonds. BE JT FUi?TEER RESOLVED-.that should it develop that Robert S. .Shaw, as President of Michigan State College of Agriculture and Applied Science, through illness, absence or other- I wise, be unable to perform the acts he is herein authorized, empowered and directed to perform,) then, in that case, Charles 0, Wilkins, Comptroller of Michigan State College of Agriculture [ and Applied Science, is hereby authorized, empowered and directed to perform any and all acts | and deeds herein authorized and directed to be performed by said Robert S* Shaw: and any action! so taken by said Charles 0. Wilkins shall be as binding on The State Board of Agriculture as if performed by said Robert S. Sbaw* BE IT FJRTHER RESOLVED that should it develop that John A* Hannah, as Secretary of Michigan State College of Agriculture and Applied Science, through illness, absence or other wise, be unable to perform the acts he is herein authorized, empowered and directed to performj then, in that case, said Charles 0. Vftlkins, Comptroller of Michigan State College of Agricul-j ture and Applied Science, Is hereby authorized, empowered and directed to perform any and all j acts and deeds herein authorized and directed to be performed by said John A.Hannah; and any action so taken by said Charles 0. Wilkins shall be as binding on The State Board of Agricul ture as if performed by said John A. Hannah. _ RESOLUTION TO FURHISE HEAT, LIGHT AM3 PJATER IffiEREAS, The State Board of Agriculture desires to refinance outstanding Michigan State College of Agriculture and Applied Science Dormitory Revenue Bonds, Michigan State College of Agriculture and Applied Se.ience: Men* s Dormitory Reve nue Bonds, Series II, and Michigan State College of Agriculture and Applied Science Girls1 Dormitory Revenue Bonds, Series II, of the aggregate face value of One Million Seven Hundred Twenty-five Thousand Dollars (fl,725,000,00}, and to provide funds to call and redeem said bonds through the issu ance and sale of Michigan State College of Agriculture and Applied Science Dormitory Revenue Bonds, Series I, of the face value of One Million Seven Hundred Twenty-five Thousand Dollars (81,725,000.00), which Dormitory Revenue Bonds shall be dated December 15, 1939, and Issued pursuant to the terms of a certain Trust Agreement between The State Board of Agriculture and the Ann Arbor Trust Company, dated as of December 15, 1939; and Resolution relative .to furnishing heat, light and water. MIEREAS, said Dormitory Revenue Bonds are to be paid solely from gross room rents and net income derived from the operation of the dormitories hereinafter named: Mary Mayo, Sarah Williams, Mason Hall, Abbot Hall, and Genmbell Hall, now In operation on the campus of Michigan State College of Agriculture and Applied Science; and. WHEREAS, it is the desire of The State Board of Agriculture that the purchasers of said Dormitory. Revenue Bonds be given the maximum securit^r and assurance that ail'.payments of principal and Interest which shall become payable in accordance with the terms of said bonds will be paid when due: NOW, TEESEE0RE, BE IT RESOLVED BY THS: STATE BOARD QE AGRI CULTURE that so long as any of the Michigan State College of Agriculture and Applied Science Dormitory Revenue Bonds, Series I, to be Issued as above contemplated, shall remain outstanding, in making up the annual budget of said College the procedure shall be to provide for am pay the water, heating and lighting costs of the dormitories above named from such funds as may be legally used for that purpose, other than the gross room rents and net Income from said dormitories. RESOLUTION RELATIVE TO SALE 0E B0UDS WHEREAS, The State Board of Agriculture has authorized the issuance of "Michigan Resolution relative to sale of bonds 1 State College of •'Agriculture and Applied Science Dormitory Revenue Bonds, Series I, of the face; value of One Million, Seven Hundred Twenty-five Thousand Dollars (fl,725,000.00) pursuant to ; the terms and conditions of a certain Trust Agreement between said Board and the Ann Arbor Trust Company, of Ann Arbor, Michigan, dated as of December 15, 1939; which bonds, when sold, will provide funds to call and redeem all Michigan State College of Agriculture and Applied Science Dormitory- Revenue Bonds, Michigan State College of Agriculture and Applied Science Men's Dormitory Revenue Bonds, Series II, and Michigan State College of Agriculture and Applied; Science C-irIsT Dormitory Revenue Bonds, Series II, which have heretofore been issued and sold j \ • • • • i A MISCSLLAHSOUS3 continued 15'. (Continued) RESOLUTION RELATIVE TO SALS 0? BONDS November 20, 1939 Resolution employing A.A. Trust Co. Fiscal Agent .by the State Board of Agriculture and are now outstanding; NOW* THEREFORE,' BE IT RESOLVED BY THE STATE BOARD OF AG-RICULTURE that Robert S. Shav;, President of Michigan State College of Agriculture and Applied Science, and John A* Hannah, its Secretary, be and they are hereby authorized to enter into a contract for the sale of, and to execute, sell and deliver aaid Michigan State College of Agriculture and Applied Science Dormitory Revenue Bonds, Series 1, at a price of not less than the face value thereof, together v/ith all interest accrued thereon at the time of delivery. RESOLUTION 01' THE BOARD RELATIVE TO THE jaiPLOYMEMT OF AM ARBOR TRUST COMPANY AS FISCAL AGENT ViHEHEAS, The State Board of Agriculture desires to refinance Michigan State College of Agriculture and Applied Science Dormitory Revenue Bonds of the face value of Six Hundred Twenty-five Thousand Dollars (.$625,000.00), Michigan State College of Agriculture and Applied Science Men's Dormitory Revenue Bonds Series II of the face value of Eight Hundred Sight Thousand Dollars (1308,000.00} and Michigan State College of Agriculture and Applied Science Girls1 Dorr/iitory Revenue Bonds Series II of the face value of Tvvo Hundred Ninety-two Thousand Dollars ($292,000.00) through the issuance and sale of Dormitory Revenue Bonds on more favor- - able terms, and V.HEREAS, it will be necessary to "borrow the sura of One Million, Seven Hundred Twenty- five Thousand Dollars (§1,725,000.00) in order to have sufficient funds to pay and redeem the outstanding bonds enumerated in accordance v/ith the terms and conditions of the Trust Inden tures pursuant to which the same were'issued, and VfliEKSAS, it appears desirable that the Ann Arbor Trust Company, a Michigan Corporation of Ann Arbor, Michigan, be employed as fiscal agent in connection with the obtaining of said loan through the issuance and sale of bonds to be paid solely from gross room rents, charged and collected from students attending Michigan State College of Agriculture and Applied' Science and who shall reside In the dormitories known as Mary Mayo Hall, Sarah Williams Hall, Mason Hall, Abbot Hall and Campbell Hall, now In operation on the campus of Michigan State College of Agriculture and Applied Science and from the net income derived from the operation thereof. HOW, THEREFORE, BE IT RESOLVED that Robert S. Shaw. President of Michigan State College of Agriculture and Applied Science, and John A. Hannah, its Secretary, be and they are hereby authorized and directed to enter into an agreement with the Ann Arbor Trust Company, as fiscal agent, to negotiate a loan of One Million, Seven Hundred Twenty-five.Thousand Dollars ($1,725,000.00.), through the issuance and sale of Michigan State College of Agriculture and Applied Science Dormitory Revenue Bonds Series I of the face value of One Million, Seven Hun dred Twenty-five Thousand Dollars (Sl,725,000.00} , all to be secured by a pledge of gross room rents paid by students of Michigan State College of Agriculture and Applied Science and virho shall reside in the dormitories heretofore named, and of the net income derived from the operation of said dormitories. Said bonds shall bear interest at the rate of three per cent [Jfo] per annum. Said fiscal agent shall procure all necessary commitments, legal opinions and rulings and secure the ing of said loan. necessary Instruments, etc-, incidental the ootain- rovai oi BE IT IIJRIHER RESOLVED that said agreement between this Board and said Ann Arbor Trust Company shall provide that the Board will pay and said Trust Company will accept as com pensation for itT s services as fiscal agent, a sum equal to one per cent (1$) of the loan Or leans accepted by this Board upon the commitment of the same and, should said Trust Company be unable to obtain said loan on terras satisfactory to this Board, it will receive ho com pensation for- the services performed. The details of all loans shall be subject to the final approval of this Board. greement of Fiscal Agent M 'H i .- 1L& jt& FISCAL AGEM.1 Beard of A g r i c u l t u re and t he S t a te of Michigan, a c o n s t i t u t i o n al c o r p o r a t i o n, and Ann Arbor T r u st Company, of Ann Arbor, Michigan, a Michigan C o r p o r a t i on , wm made t h is t w e n t i e th day of November A. B. 1939: between t he S t a te WHEREAS, the State Board of Agriculture desires to obtain a loan in the sum of One i i~> ^ J.J Million, Seven Hundred Twenty-five Thousand Dollars (SI;725,000} to provide funds', with which to pay and redeem outstanding Michigan State College Agriculture and Applied Science Dormitory Hevenue £cnds, Michigan St< Revenue Bonds Series ii and Michigan State College of Agriculture and Applied Science Girls1 Dormitory Revenue Bonds Series II of the Aggregate face value of One Million, Seven Hundred Twentv-rn Agriculture and Applied Science Men*s Dormitory fv] ape rion r-fi) ?housand Jcx.ies 6^ f7V..r«.Tvt- M E R E A S, said Board desires to employ as its fiscal agent the Ann Arbor Trust •ompany to negotiate said loan ana to secure all necessary commitments, rulings ana T;O loan, and ^ draft all necessary instruments, e t c, incidental to the obtaining of said Legal opinions and B/iEREAS, said Board and said Ann Arbor Trust Company are desirous of fixing the com- pensation to be paid cidentai to the negotiating and obtaining of said loan /-\ V% 4* O n V> -1 T"l /-•» C • o -1 /~i , (Continued) November 20, 1939 AGfiE>iS;iElB: FOR COMPENSATION FOR TRUSTEEf S SERVICES; cont WHEREAS, The State Board of Agriculture and the Aim Arbor Trust Company are desir ous of fixing the compensation to be paid to said Trust Company by said Board for perform ing the services as Trustee under said Trust Agreement; HOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the parties hereto agree as follows: The State Board of Agriculture agrees to pay to the Ann Arbor Trust Company for the performance of the services required of it under said Trust Agreement in accordance with the schedule hereinafter set forth: and the Ann Arbor Trust Company agrees to accept as full compensation for the services performed under said Trust Agreement the various sums set forth in said schedule: aj Annual Fee as Trustee: 1*100.00 nr»r!n rjp7*v- services of Trustee other than for which comnensation is (Ordinary expressly provided), (b) Redemption and purchase of Dormitory Revenue Bonds: For the redemption at maturity or by call as a v/hole of the entire amount outstanding- 1/10 of 1% of the principal of Dormitory Revenue Bonds so redeemed. For the optional calling for redemption of less than all outstanding Dormitory Revenue Bonds, pursuant to the Trust Agreement, 1/10 of 1% of the principal amount of .Dormitory Revenue Bonds actually redeemed, with, a minimum fee of S2$.00 per operation* (c) Payment Agent for coupons: nterest, i/2 of I>b of the principal sum. deposited ^or -erne payment or i "or such payment. Transfer .Agent (Registration) of Dormitory Revenue: Bonds:- For registering principal only, 30 cents for each $1,000.00 bond* Extraordinary Services: (d) (e) For performing any services not contemplated at the time of the exe cution of the Trust Agreement, the fee to be determined by appraisal in an amount to fit the services. (f} Closing Fee: For this service, the exact charge should depend on the value of the final services rendered in the closing of the trust, the minimum fee; to be $25.00j. the maximum fee to be $100.00, It is mutually agreed between the parties hej^eto that the compensation above provided for shall not be considered as including the services per formed by the Ann Arbor Trust Company in connection with negotiating the loan, securing commitments, obtaining legal opinions, drafting instru ments, etc., but only, for such services as said Trustee shall perform under and by reason of said Trust Agreement. IK WITNESS WZSES0F, The State Board of Agriculture has caused these presents to be signed by its President, attested by its Secretary, and sealed with its seal; and the Ann Arbor Trust Company, of Ann Arbor, Michigan, has caused these presents to be signed by its Executive "Vice President, attested by its Secretary, and sealed v/ith its seal3 as of the day and year first above written. resident'! euort. PRESIDENTS REPORT Resignations and Appointments 1. Resignation of W. Paul Fuller, instructor In Mathematics, effective October 20, 1939« Mr* Fuller has accepted a position in the East Lansing High School. 2. Resignation of Miss Helen Jimerson, Assistant in Kesearch in Home economics, effective as of November 1, 1939• "Miss Jimerson is planning to be married. Resignation of R. H. Sharpe as half-time'graduate assistant in Horticulture, effective October 23, 1939- L> Appointment of B* T. Darling as instructor in Mathematics for eight months at a salary of #175 per month, effective November 1, 1939. Dr« Darling will replace Mr* Fuller whose, salary was |l600 per year* 5.. Appointment of Miss lone Bateman as Assistant in Research In Home Economics for the period from Hovember 13, 1939 to August 31, 1940, at a salary of ^1400 per year. Miss Bateman vxi 11 replace Miss Jimerson. Her salary is payable from Purnell funds. •6." Appointment of the following staff for teaching work In the Kellogg Short Course: Mrs. Josephine Cook, at a salary of 8480, Mrs* Dorothy Beeskcw at a salary of 35360, Mrs* Marguerite Wright at a salary of $3^0, and Miss Elizabeth Krieger at a salary of S400. All appoint ments are for a period of four months beginning October 23, 1939. The funds are to be re imbursed to the extent of three-fourths of the amount spent by the State Board of Control for Vocational Education, and the other fourth is to be paid from funds received from the Kellogg Foundation, r I I 1 1 1 FRSSIEEMT'S BEPOIS1, cont inued Travel November 2 0, 1939 1573 j ) 1. Full expenses for N* E. Grover to make a trip to the Graybar Laboratories in Hew York Gfcy to j see the radio equipment which t he College is purchasing from the Graybar Company., 2* F i r s t - c l a ss r a i l r o ad mileage only for Ralph Ifcrman to attend the I n t e r c o l l e g i a te s c h o l a s t ic • • Press Association Convention in Des. Moines, Iowa, from October 26-28. •3'. Full expenses for Dr* . 1. F. Huddles on to v i s it the Henry Fhipps I n s t i t u te in Philadelphia and the Rockefeller I n s t i t u te in Key/ York for the purpose of studying the use of the T i s e l i us cataphoresis apparatus; Expenses for the t r ip are to be paid from the Central Brucella fund* | i ! I I j |. j Travel 4. Mileage on one car for members of the staff of the Soils Department (R* L. Cook, 0. M. Grantham, j ; A. G. W.eidemann,, J. F. Davis,; E. • F. Matelski, and G. B. Sherman) to attend the meetings of -the Soil Science Society of America and the American Society of Agronomy at Ifew Orleans on November I !•• : ' :21-24. :": •• . r 5 v Maintenance expenses for Dean .Conrad, Dean Mitchell, Mr. Eeath, M r. Orbeck, and Mr* Caniff to ! attend the meetings on student personnel, counseling, and guidance at Antioch College, Yellow j 1 Springs, Ohio/ on November 10 and 11* Miscellaneous 1. Authorization for the payment of $300 to Paul Dressel for services rendered in connection with the Freshman 'Week Program during 1939-4-0: payment to be made §100 per term for the fail, winter, and spring terms. 2. Authorization for the employment of an additional full-time person in the Liberal A r ts Division at a salary rate of ^2600 per year. The new person will carry a minimum of six hours of teach ing in the Department of Education and the balance of his time will be devoted to matters of placement in the Liberal Arts and Applied Science Divisions. 3. Authorization for the employment-;'of an additional full-time general assistant in the Library at 'an. annual salary of 81500. 4* Report that Dean Mitchell, who was authorized to attend a conference on student personnel problems at Antioch College with full expenses, did not require full expenses but maintenance expenses only. On motion of Mr. Downing, seconded by M r s. Masselink, it was voted to approve the President s Report, REPORT OF T HE SECRETARY 1. At the October Board meeting the purchase of the transmitting equipment, construction of the necessary radio tower transmitter building, etc*, were authorized by the ^oard at a total cost of $61,8285 the transmitter to be purchased from the Graybar Compare in accordance with their bid at 136,928 - t he entire project to be paid for on the basis of $21,000 in the current year. : $21,000 July 1, 1 9 40 and $20-,000. July 1,-1941-- Details of financing were to be reported to the Board. ; Arrangements. have .been completed with the Graybar Company for the purchase of the trans mitter equipment, conduits and other electrical equipment. Bids have been taken for the neces sary building and contract awarded to the low bidder, Dorr Granger of Lansing, at S4S00. T he cost of the building, •installation of the services required at the building, etc., are to be paid from the first S21,000. T he Graybar Company have agreed to accept payment as follows; $20,000 July 1, 1941; $21,000 July 1, 1940, and the balance on the completion of the work. Total material to be purchased from them, approximately |51,000. 2. At the October Board meeting the Board authorised the installation of the copper roofs on the Field House and Auditorium subject to negotiations as to price* After negotiations these prices were agreed as follows: F or the Auditorium, $4200.00; for the Field House, $5355*00. The committee consisting of President Shaw, M r. Brcdy and the Secretary, acted for the Board. FWA ±Ti£MkJ The Committee consisting of President Shaw, M r. Brody and Secretary Hannah acted for the Board on PWA items .as follows: : 1. Completion date on the Music Building was extended to October 16, 1939* 2. Liquidated damage provisions in the contract of Alfred A* Smith Company, contractors on the girls* dormitory were waived, since the building was completed and ready for occupancy at the •opening-of school and no financial loss and practically no inconvenience was caused to the College. 3. In accordance with the action of the last Board meeting, a copper roof was authorized for the Field House at a total cost of '45355* Payment of I 1300 to j Paul Dressel I Employment d? j full time j person Lib. j Arts. ! Full time j asst. L i b. ! Maintenance I expenses onlyj [required by I Dean Mitchell j on Antioch ! College triD. i' Arrangement \ for payment j of transmitted ! equixmient / Copper roofs for field house and auditorium. Completion date Music Bldg. Oct. 16,-1939....-: Liq. damages on girls1 dorm, waived. Cost of roof field house-. ' $5355.- Field house 4. Completion date on the gymnasium and field House was authorized from January 1 1, 1940 to April 1, completion 1940, and the concurrence of the P SA was requested. 5. Certain changes were authorized in the specifications of the furnishings furnished by the J. VJ. Knapp. Company for the music Building increasing the amount of that contract by ^13.55. I date A'Drilll5 11940.- jKnapp contract| ;Music 31dg. ;increased :P3-55 if. m. 1 1574 Additional deposit of ¢45.70 needed for Music. Blag. Approval of transfer of funds Judg ing pavilion Change in specifica tions aud. approved. PWA IT1MS, continued November 20, 1939 .6. Changes in specifications for the amount of-carpeting furnished by the J'. L. Hudson Company for the auditorium of the Music Building, of 8107*70 and authorizing the Comptroller to deposit an additional #45-70 or the State Board funds in the construction account covering t h is docket. increasing the amount of the contract by a t o t al On motion of M r. Halstead, seconded by M r. Jakway, it was voted to approve t he six items above, The following P WA items require action: . fi . _ „ i; interest on the money borrowed for t he construction of the It has been necessary to paj Livestock Judging Pavilion amounting to -::-1137*06. There are sufficient funds available in the Construction Account ana Engineering Account items on this docket to pay this interest by transferring from the Engineering Account g7D4«l6 &nd from t he Contingent Account $422.90. On motion of M r. Downing, seconded by M r. Jakway, it was voted to approve t he above item. 2. It is recommended that a change in specifications for t he auditoriuin be approved providing for the .possible installation of equipment that will make possible the serving of banquets in the auditorium. These changes include change in type of one partition, the addition of certain doors and openings, the installation of additional electrical outlets, electri cal services and an additional high pressure steam line so that a large classroom adjacent to the auditorium can be converted for food serving purposes. T he total estimated cost of these changes is #1,37.2.25. T he approval of this item will require a deposit of State hoard funds amounting to £1,372-25. On motion of M r* Jakway, seconded by ivir. Halstead. it was voted to approve t he above item, $192.30 depos; ited to Soils: Barn project. J* Pinal report of the auditors on the Soils Barn has been received. They have disallowed federal grant on the drying unit installed in the building. To close this docket, how ever, requires an appropriation of State Board money in the amount of £192.30. There is a possibility that an additional 845.00 in excess of this amount m ay ultimately be r e quired since an item of S100 for inspection during construction is still under considers- Completion of pavilion approved e x- steam lines across bridge* Committee to act on P WA matters appointed. Eagameir awarded b id \ on addition I to Dairy Bldg Or, motion of M r. Halstead, seconded by M r. Berkey, it was voted to suprove t he above item. The architects ? Bowd and Munson Company of Lansing, have certified that t he Livestock Judging Pavilion is completed with the exception of the steam lines across t he bridge that cannot be installed until t he new Parm Lane Bridge is completed. T h is certifica tion has b e en checked and approved by the College inspectors. T he building is accepted as complete and final payment authorized with the exception of S1400 which is to be r e tained until work on the steam lines in connection with the bridge is completed. On motion of M r. Downing, seconded by M r. Halstead, it was voted to approve t he above item. A Committee authorised to act for the Board on PNA matte: December Board meeting should be appointed. in the interim until t he On motion of .Mr. Berkey, seconded by M r. Halstead, it was voted to approve appointment of the same Coimiittee to act until the December Board meeting. SECImTAHT nids were opened on November loth for certain charges in the Dairy Building to permit the installation of additional refrigeration equipment as follows: P. J. Corr m. G. Christ m an Dorr Granger :-'4c0u '. 5/,50 5540 59S9 b 5 21 Bean Anthony recommends that this'work be authorized to be charged to Creamery Revolving funds. On motion of M r. Berkey, seconded by M r. Downing, it w as voted to approve letting t he contract to the low, bidder, J.. G. Plagamier. 2. Bids for Stage Pguipment for the auditorium were taken on November loth as follows: Mork Green awarded con tract on Stage Equip ment A u d. Mork Green Studios Tiffin studios Beck Studios :--:13,945 »00 14,972.75 14,974*00 It is recommended that the contract be let to the low bidder, Mork, Green Studios, to be charged to the provisions made in this year's buaget for furnishing new buildings. On motion of M r s. Masselinc, seconded by Mr. Downing, it w as voted to approve letting t he con tract to t he low bidder, Horn Green Studios. . b^CKiS'AHf! S : ITMB, . continued 3. Dean Anthony recommends t n at a small door be a u t h o r i s ed to be cut in t he l a r ge door at e i t h er ; end; of t he L i v e s t o ck Judging P a v i l i o n* On n o t i on of Mr. Berkey, seconded by Mr. E a l s t e a d, it was voted to approve t he above recommendation November 20, 1939 ±525 Door cut in large door at Livestock A. Mr'. V/ilkins reports that after using all available funds for Abbot Hall in the hands of the Ann Arbor Trust Company} the furnishings for that building have exceeded the amount of money available by S8,197*25. HrAAiikins also reports that after using all available funds in the hands of the Ann Arbor Trust Company for furnishings for Campbell-Hall, the furnishings have cost in excess of the amount available, ' ¢9,315-09.- These items can be charged to furnishings IcamDbell of new buildings although it is likely that it will be necessary for the Board to appropriate 'charged to more money for this purpose before the buildings are all completed and equipped- Overdraft aa I funds for jfurnishings •Abbot Hall & ^amount *et uV 1 sin budget for On motion of ±lx. £erkey, seconded by Mr. Jakway, it was voted to approve the recommendation charg- |fu r n# n ew bld^ ing amounts set; up in the budget for furnishings for ;new buildings/ :; ;..j ; 5- ho?- Wiikins reports; that when the; budget for the current year was established, it was expected [Appropriation" • • that §9 j000 cpuid be transferred :from revolving funds of the Agricultural Division to be; credi- jof |2000 ted tov/ard the: purchase- of farm land, The:Hoohanessian farm has been purchased and paid for /additional' A at a cost of $16,000..: It is possible to transfer from the Agricultural Revolving funds only If or purchase • '47,000-. leaving a shortage of $2,000, Mr* Wiikins requests an appropriation to cover this item. | of Eoohaness A On motion of Mrs. Masselirk, seconded, by Mr. :Berkey, it was voted to approve the above request. : j ' ' • • ifarm. 6.- Hichara AfAClark, student;, requests an exemption from the rules of the State Board of Agricul- irequest ex- ture covering out-of-state fees and has requested that this matter be placed before the Board. Aemption out- jNo action on No action* . .7, The Michigan Press Association has requested additional office facilities on the campus. If the Board ar^nroves, an effort will be made to find office soace. On motion of Mr. Halstead, seconded by Mr. Berkey, it; was voted to refer the above request tc Sec- rot ary "vix h "o 07703? o 0 s.Co. 8.- The Attorney General under date of October 25th ruled as follows: : !'.of-state fees. j' : JMich. Press. {requests more ! office suace. |Attorney Gen. I rules Board nIt is therefore our opinion that the State Board of Agriculture has authority to borrow money j has authority on a short term bank loan for the purpose of expanding its power plant facilities only if the jtc borrow j money on evidence of indebtedness limits the liability incurred to the net revenues available from operations, and expressly provides', that no other liability shair be, incurred through the b or row A short term ing of said money by the .State-of-Michigan, Michigan'State College, or the State Board of j bank loan. Agriculture A1 1 A possible method of financing:-the power plant nov/ under construction as worked.-out'by'Mr. Cress of the; Ann Arbor Trust Company is presented for the consideration of the Board. ;9* The WPA has agreed to furnish painters to paint the interior:'of. college buildings and continue to do additional work requiring furnishing of materials by the college. An additional appro priation of $5,000 for this purpose is requested at this time. Additional monies will even- A tually be required. Appropriation of 35000 for materials for Vfl?A painters. On motion of Mr* Berkey, seconded by Mr. Hal-stead,: it was voted to approve the appropriation of 85000 requested above. L0. Considerable heavy filling is required about the H e ld House and Auditorium and part of it must be done at once to provide for access to the building prior to the opening dates. An appropriation of §5,000 will be required for this purpose On motion of Mrs. Masselink, seconded by Mr* Downing, it was voted to approve the above request, ?he meeting: adjourned at 2:30 P.M. I $5000 appro priated for If idling & ! grading about JField He land Aud« 1 1