Minutes of the Meeting of the State Board of Agriculture March 11, 1940 1599 Present: Mr. Berkey, Chairman; Messrs. Brody, Jakway, McPherson; Mrs. Masselink; Dr. Elliott; President Shaw, Treasurer Wilkins; Secretary Hannah Absent: Mr. Akers The meeting was called to order at 10:15 A.M. The minutes of the previous meeting were approved. RESIGNATIONS, LEAVES AMD APPOIHPMSNPS 1. Resignation of ¥. N. Crawford, graduate fellow on Michigan Crop Improvement Association funds, effective February 29, 1940. Mr. Crawford has accepted a Civil Service position with the Bureau of Agricultural Economics as grain inspector at Toledo, Ohio. j J Resignations 2. Leave of absence without pay for one year for 0. J. Reynolds, Faim Foreman, effective April I, I 1940* Mr. Reynolds was appointed in 1926 and requests retention of his retirement status. His j wife is in critical health. j 3» Appointment of Dr. L. W. Kindred as a teacher of "Education during the six weeks summer session Appointments at a salary iof $325.00 for the period from June 17 to July 26, I94O; j 4« Appointment of Mr. Merle Myers as a teacher of Geography during the six weeks summer session at j a salary of §250.00 for the period from June 17 to July 26, 1940. | 5« Transfer of Miss Alberta Martin from her position as stenographer in Home Economics Extension | to stenographer in Agricultural Engineering at the same salary of $1080.00 per year, effective j March 15, 1940. Miss Martin replaces Miss Virginia Jacobs whose resignation has been accepted, j 6. Appointment of R. E. Skog as Extension Eorester on the Norris-Doxey Project at a salary rate of $1620 per year for the period from March 25 to June 30, 1940. This is an additional posi- j' tion to be continued after July 1 provided federal funds are continued after that date. j 7. Appointment of Mrs. Elina Beck as County Club Leader in Houghton County at a salary of $100100 j per month for the period from April 1 to September 30, 1940; payable from Eederal Smith-Lever j : :. funds.. , . . . . .. . • \ S. Continuation of the appointment of William B. Golding as instructor in Poultry Husbandry at a salary of f150.00 per month for the period from April 1 to June 30, 1940. 9» Appointment of M. G. Erakes as graduate fellow on Michigan Crop Improvement Association funds for the balance of the academic year, effective March 1, 1940. Mr. Erakes will replace W. N. Crawford /whose resignation has been presented. He has been employed as half-time graduate assistant in Earm Crops. 10. Appointment of Martin YanScheid as half-time graduate assistant in Dairy Husbandry for the year 1940-41 to replace Paul B. Larson who vail complete his work, in June 1940* This assis- tantship is financed on Bankhead-Jones funds. 11. Appointment of Ered Killeen as general assistant in the Music Department at a salary of $150 per month for the period from April 1 to June 30, 1940. On motion of Mr. McPherson, secohded~by Mr. Brody, it was voted to approve the resignations, leaves and appointments. TRAVEL 1. Euil expenses for B.R. Prouix to accompany the senior students in Hotel Administration on their annual field trip to Chicago and the Midwest Hotel Show during the week of March 25-30» 2. Eirst-class railway fare only for Mrs. Mabelle Ehiers to attend the Midwest Hotel Show in Chicago from March 25-30* She will act as chaperon for the girls who go to the Hotel Show. | | 3. First-class railway fare and pullman for Dr. Irma Gross to attend the Second National Con ference on Consumer Education at Stephens College, Columbia, Missouri, on April 1-3* ; Travel Referred to President with power to act. 4. Eirst-class railway fare only for Bernice Vollmer to attend the Annual Consumer Education Con- | ference at Stephens College, Columbia, Missouri, on April 1-3/ This is subject to the approval) j of Mr. Eern for reimbursement from Vocational Teacher Training funds. Referred to President with power to act. 5. Mileage an one car and maintenance expenses for Alice Hutchinson, Gladys Bond, and Mr. and Mrs.; Ralph Thomas of Marshall to appear on the National Farm and Home Hour in Chicago on April 2. The request comes through the Eederal Office of Extension. 1600 Travel March 11,-1940 ••TRAVEL,,: continued 6. Mileage on one car for four members of the History Department to attend the meeting of the International Relations group in Greencastle, Indiana, on April 5 and 6, Two or three cars will make the trip on this allowance, and will transport students to the meeting, 7. Full expenses for C. 0. Wilkins and J. A. Hannah to attend the annual meeting of-the Asso ciation of University and College Business Officers at the University of Oklahoma, Norman, Oklahoma, on April 7-9« Referred to President with power to act* 8. Mileage on two cars for E. J. Miller, P. J. Schaible, G-. K. Davis, C. W. Duncan, P. W. Mor- gal, H. G. Petering, and E. J. Benne to attend the annual meetings of the American Chemical Society at Cincinnati, Ohio, on April 8-11. Mileage on one car is to be paid from Agricul tural Chemistry funds, and on the other from Rackham Foundation funds. Referred to the President with power to act. 9. Mileage on one car for 3~ean Hawks, Flora Hanning, and Eunice Kelly to attend the annual meetings of the American Chemical Society in Cincinnati on April 8-12; expenses to he paid from Experiment Station funds. Referred to the President with power to act. 10. Full expenses for Mrs. Merle Byers and Miss Ethel Lewis to attend the Central Regional Con ference of Homemaking Education in Chicago on April 8-12. This has been approved by Mr. Pern and is to be reimbursed completely from Vocational Teacher training funds. ill. Eirst-class railway mileage only for L. S. Foltz to represent the Engineering Division at the Midwest Power Conference in Chicago on April 9 and 10. Mr. Foltz is chairman of one of the sections. 12. Mileage on one car for Dr. S. G-. Bergquist and other members of the Geology Department staff to attend the meetings of the American Association of Petroleum Geologists in Chicago on April 10-12. jl3* Mileage on one car for six members of the Mathematics Department to attend the meeting of the American Mathematical Society at Chicago on April 12-13» 14. Full expenses for Glen Stewart and John Hannah to attend the annual meeting of the Chicago Alumni Club in Chicago on April 13» ;15« Full expenses for one member of the Civil Engineering Department to accompany the Civil Engineering seniors on their annual inspection trip TJo Chicago and vicinity from April 15-19» |l6. Mileage on one car for members of the staff of the Textiles, Clothing, and Related Arts Department to attend the meetings of the Western Arts Association in Cincinnati, Ohio, on April 17-20. . 17. Railway coach fare only for Kathrine Winckler to appear on the program of the College Art Section of the Western Arts Conference in Cincinnati, Ohio, on April 17-20. Mileage on one car only for items 16 and 17 is approved. :18. Railway coach fare only for Stanley Howell to attend the meeting of the Association of Modern Language Teachers at Cleveland, Ohio, on April 19-20. Mr. Hov/ell is chairman of the Spanish Section. 19. Mileage on one car for three members of the Speech Department to appear on the program of the Central States Association of Teachers of Speech at Terre Haute, Indiana, on April 19-20. I |20. Mileage on one car for K. J. McCristal and ether members of the Department of Fhysicsl Edu cation for Men to attend the meeting of the American Association for Health, Physical Education and Recreation in Chicago, April 24-27. 21. Full expenses for R* J\ Coleman to attend the Annual Institute for Education by Radio in Columbus, Ohio, from April 29 to May i; payable from Extension funds. Federal radio officials have requested Mr. Coleman to appear on the program. pn motion of Mrs, Masselink, seconded by kr. Brody, it was voted to approve travel requests with the recommendations indicated after items 3, A, 7, 8, 9, 16 and 17. BalSCELLAHBOUS Acceptance $300 Middle I. Acceptance of $300 from the Middle West Soil Improvement Committee of the National Fertilizer Best: Soil Im~ provement Com. Association to be used in a study of fertilizer practices which will improve the yield and quality of corn and other crops grown in the rotation. MISCELLtAMEOUS, continued March 11, 1940 j 2. Recommendation that Mrs* Norma -K Wagner be placed on the Service Payroll as Manager of the Bookstore at a salary of 82000 per year, effective as of February 1, 1940* Mrs* Wagner has j been receiving a salary of #2000 in the past, j 1601 Mrs, Norma Wagner placed| on service payroll 3* Recommendation that diplomas be granted those students completing the requirements for degrees I Deferees granted stu j dents com pleting re quirements end of win ter term 1940 j \ j at the end of the winter term 1940 as recommended by the faculty, as follows: DIVISION 0? AGRICULTURS Francis Charles Campau/ a Gardner Wells Cranston, a Degree: Bachelor of Science a, Agriculture; 1, Landscape Architecture Jack Kyuang Ob Dunn, a Glenn 'Ralph.'-Perkins,- a Walter Francis Westrin, a Wesley Wellington Wiekett, a Arthur Ri-patte Wolcott, a Arthur leRoy Barber •William Waddingt on Beadle Forestry Degree: Bachelor of Science Kelton William Huxford William Yandiver faring Roy Edward- Skog DIVISION OF ENGINEERING Louis Francis Nord Donald Allison Scagel Degree: Bachelor of Science 2ij Mechanical; c, Civil; e, Electrical; ch. Chemical Robert Buzenberg, ch 'Theodore Ealleck Caldwell, Jr., ch. Warren Nelson Milks, ch Gerald Lewis Pratt, ch Warren B# Rice, ch Homer Weldon Spence, e James Nelson,Westveer, m DIVISION OF HOME ECONOMICS Harriet Adele Anderson Martha Marie Deters Phyllis M.^cLeod Clara Loui s e Maxwell Margaret Ellihor Muncie Doris ^arie Rood DIVISION OF APPLIED SCIENCE Applied Science Degree: Bachelor of Science Glen Wilson Cline Bennie James Dargush Rob ert Norman Frahm Robert H. :Rupp Torpia Alex Lapenas Charles Burritt Munton Geraldine Louise North, as of July 28, 1939 George Elmer Siple Casper Harold Albert Strong Donald.Monroe Tuttle Charle s Raymo nd Wilc ox Leo John Zaikowski, as of December 22, 1938. Physical Education Degree-* Bachelor of Science Jane -^athryn Meadows Gayle Berdett Robinson Steve John Szasz Police Administration Degree: Bachelor of Science Eugene Stephen Iwasko, as of Jul 28, 1939 Ray Case Purdy, as of July 28, 1939 Donn Charles Bolthouse Charles Frissell Craig Ormond Sherman Danford Charles Marquis Eggstaff Louisa Mary Hueston DIVISION OF LIBERAL ARTS Degree: Bachelor of Arts Henrietta C. Ledyard KalmaiL..B-en.jamIn Leiden Raymond George Mulchahey Marjorie Clelia Peters Business Administration Degree: Bachelor of Arts Clarence Pinch Herbert Victor Sayers Norman Smith Eathryn Ann Wolfe John David Wright Walter Raymond Craig, Jr. Willard Chapman Durkee Wilfred J. Godfrey Edward Paul Guzzonato Henry George Rexer Harold Andrevitch Shadlco Applied Music Degree: Bachelor of Music Morris Hochberg, as of December 22, 193^ 1602 IMISCELLAMJOUS 13. (Continued) March II, 1940 DIVISION OF VETERINARY SCIENCE Veterinary Science DEGREE: Doctor of Veterinary Medicine Howard Samuel Pike Robert Mitchell, Jr. Medical Biology Degree: Bachelor of Science Mary Louise Baumann Lucille Hester Burl Athalie Gertrude Lundberg ADVANCED DEGREES Master of Science Alfredson, Bernard V. . . . . Daily Husbandry -Crawford, Willard N. . . • Farm' Crops Davidson, John H. . .. . • .Chemistry Armstrong, George Willard. , -Chemistry Barrett, Clarence Dole-.- •• -. . Bacteriology Jenema, Peter J. . » . . . Soils Basile, Robert Manlius. . . . Soils Wasson, William N Chemistry (Organic) I On motion of Mrs. Masslink, seconded by ^r. Brody, it was voted to approve the list of graduates : as per the above list recommended by the Faculty. Approval of ! U* Dean Anthony recommends the following adjustments of county agents' salaries in order to use adjustments of certain county agents sal- aries. E* 2. Kuhn, Menominee County, $100 per month from Federal B.A.E. and $150 from Federal Smith-Lever funds, effective from March 1 tc June 30? 1940. completely funds of the Bureau of Agricultural Economics allotted to cooperative work (no change in total salary): • G. S. Mclntyre, Cass County, §100 per month from Federal B.A.'E. and $12$ from Federal Smith-Lever funds, effective from March .1 to June 30> 1940* J, A. Brown, Presque isle County, $100 per month from Federal 3.A.E. and ^150 paid from Federal Smith-Lever funds, effective from 'March 1 to May 31» 1940» §239 "placed 1 to credit of BtfADoc. 1581-F Injsny - j j Winfield Russell. Approval nose operation p. Wagner. 5». Request from Mr. Wilkins t h at $239*21 be placed to t he c r e d it of P.W.A. Michigan Docket I 5 8 I - F. We have charged $2,179*43 against t h is docket for supervision and t he P.W.A. is allowing only 81,940.22. 6. Payment of S40.50 to Winfield Russell, employee in the Power Plant, as compensation for time lost because of an injury received while he was operating the power crane. ?. Authorization for a nose operation for Donald Wagner, a varsity boxer who sustained an Injury which has produced an obstruction of the right side of his nose. The estimated cost of the operation is $50. On motion of Mr* MePherson, seconded by Mr. Berkey, it was voted to approve items 1, 2, 4> 5> 6 and 7. ' ' Additional ®* ^ additional §5000 is requested for the budget of the Registrar's Office. appropriation Regis. Off. i 0n motion of Mr. Mcpherson, seconded by Mr. Berkey5 it was voted to authorize the Comptroller to _ Report of P r e s. r e: communications^ r e: S t a te News f e e. i j ; allow the budget of the Registrar's Office to run in the red for the balance of the fiscal year, ; it being understood that all expenditures are to be for absolute necessities and to be kept to a minimum. _ -J i le President reported r e l a t i ve to the communi cat ions t h at had been sent to members of t he Board by student o r g a n i z a t i o ns r e l a t i ve to t he r e t e n t i on of t he S t a te News fee and other student f e e s. •On motion of Mr. Mcpherson, seconded by Mr, Brody, it was voted to r e f er t he request of t he student groups to t he Committee on Fees with t he power to eliminate one of t he proposals approved at t he February Board meeting if t he Committee so desired* ;^-°* ^e WisAtex of t he audit of t he college books and records was' discussed. Audit of college books author-021 motion of Mr. Mcpherson, seconded by Mr, Brody, it was voted to authorize t he President and ized. 'Secretary to engage Mr, William Roost to audit t he finances of t he College with t he idea t h at audit be made for t he f i r st s ix months and t he l a st s ix months to be made at t he end of t he f i s c al y e a r. t he 111. The President reported on the death of Professor Henry E. Publow on March 3, 1940. |0n motion of Mr. Brody, seconded by Mrs. Masselink, it was voted to authorize and empower the Sec retary to prepare a suitable resolution to be spread on the permanent records and a copy be sent to the widow and family. March 1 1, 1940 1603 MISCELLAliEOtTS; continued 11. (Continued) •Resolution I on death of jProf. Henry iPublow RESOLUTION OE THE STATE BOARD OE AGRICULTURE ON THE DEATH OE PR0EES30R HENRY E. PUBLOW? HEAD OE THE DEPARTMENT OE CHEMICAL ENGINEERING- ON MARCH 3, 1940. WHEREAS, Almighty. God in-His divine wisdom has seen fit to take from our midst Professor Henry E. Publow, Head of the Chemical Engineering Department, on March .3, 1940; md m tIEEBEAS, Professor Publow has rendered long, efficient and worth while service to Michigan State College as Instructor in Chemistry, Assistant Professor of Chemistry, Associate Professor of Chemistry, Associate Professor of Chemical Engineering, and finally as Professor and Head of the Department of Chemical Engineering; and WHEREAS, the Department of Chemical Engineering has "under his guidance made real progress and turned out graduates that are bringing considerable credit to Michigan State College; and WHEREAS, the passing-of Professor ^enry Publow is a great loss to Michigan State •College-that is keenly felt by the members of the State Board of Agriculture the administra tive officials of the college, the faculty, students and alumni; NOW, THEREFORE, BE IT RESOLVED by the State Board of Agriculture at its meeting on March 11th to hereby express its sincere sympathy to the her eared widow and family and this resolution is ordered to be spread upon the permanent records of the State Board of Agriculture and it is ordered that a copy be forwarded to the family• PRESIDENT'S REPORT I Resignation 1. Resignation of Miss Yera Schultz as assistant night nurse at the Hospital, effective Eebruary \ j 22, 1940- ;2. Temporary appointment of Miss Jane Chesley as assistant night nurse at a salary of $90 per month plus meals and laundering of uniforms, effective Eebruary 23, 1940- Miss Chesley re places Miss&hultz at the same rate of pay* j Lppointments j •- • • • . i 3. Appointment of James E, Pease as special teacher in Education for the six weeks summer sessionj j from June 1? to July 26, 1940? at & salary of $40.00 for the period. 4« Appointment of Chace Newman as instructor in Drawing and Design for the Spring term 1940 only I at a salary of §300 for the period, payable in three monthly installments. This is necessary j ! because of the large enrollment in this department. $• Appointment of Eldon E. Shotweli as instructor in Chemical Engineering for the balance of this academic year at a salary of $125 per month, effective March 4, 1940. Mr •Shotweli has been a graduate assistant in Chemical Engineering, and he will- now carry part of the work formerly carried by Professor Publow. •6. Appointment of Dean W. Kuykendali as instructor in journalism at a salary of $2250 per year for full time work on a permanent nine months basis, effective March 20, 1940. This matter was referred to the President with .power at the Eebruary Board meeting. This is an additional position. 7.. Authorization for full expenses for Miss Mabel Petersen to attend the annual meeting of the Association of Deans of Women in St. Louis, Missouri, on Eebruary 24-28. Eirst-class railway mileage onlyvwas reported at the Eebruary Board meeting. T r a v el 8. Mileage on one c ar f or Miss Dorothy K e r th to a t t e nd t he Water S p o r ts Conference at t he U n i v e r s i ty of Wisconsin on March S and 9* Miss K e r t h ' w i ll accompany four women s t u d e n t s• 9. Mileage on one car f or P. W. H e r b e r t, M.. E. D e t e r s, ¥• E. Morofsky, P. G. H i l l, and E. W. P o e l o fs to a t t e nd t he American W i l d l i fe Conference in Washington, D. C, on March 18-20; ex penses p a y a b le from t he E o r e s t ry Department funds, 1 0. A u t h o r i z a t i on f or t he payment of §22.40 to Edward S . B u c h o I z, an employee of t he B u i l d i n gs and Grounds Department, as compensation f or time l o st because of an in j u ry he r e c e i v ed w h i le working. On motion of Mr. Brody, seconded by Mr. Berkey, it was Toted to approve t he P r e s i d e n ts R e p o r t. PWA ITEMS In order to comply with PWA regulations Board approval is required on the following items: 1. The extension of the time on Contract No. 1 on the Auditorium with, the J* A* Utley Company for the construction of the foundations and necessary piling from March 1.5, 1939> ^0 May 1, 1939. This delay resulted in no material delay to the College and no claim is made for damages resulting from the delay. 2. The extension of time on Contract No. 2 for the Auditorium with the Renlger Construction Com pany from December 225 1939, to April 15, 1940. No material damage resulted to the College as . JAu(i. a result of this delay which has been anticipated since the inception of Contract No. 2. ;Approval of jextension of Itime contract :1 -x-ud. Also extension of time con tract no. 2 1604 Approval e x t e n s i on of ! c o n t r a ct n o. .i 1 - g y m - f i e ld h o u s e. Add. d e p o s it : S l 8 5 . 1 5 ~- Gym-Field House. Committee c o n t i n ed to act on PWA p r o j e c t s. App. change sw. pool spec, Add. S104»65 PVfA ITEMS, continued 3. E x t e n s i on of t i me on C o n t r a ct No* 1 on t he Gymnasium F i e ld House with t he J. A. U t l ey Com pany from May I, 1939V to May 2 6, 1939* No m a t e r i al damage r e s u l t ed to t he College due to t h is d e l ay and no claims a re made f or damages r e s u l t i ng t h e r e f r o m. March 1 1, 1940 4. PWA Memorial t a b l e ts It i ng program. r e q u i r es an a d d i t i o n al d e p o s it is now known t h at in t he Gymnasium F i e ld House were agreed upon e a r ly in t he PWA b u i l d item t h e se t a b l e ts w i ll cost $185; 15* Approval of t h is in t he C o n s t r u c t i on Account to cover i t. On motion of Mr* Brody, seconded by Mr. Berkey, PWA i t e m s. it was voted to approve t he f i r st four of t he 5. The F i e ld House and Auditorium v a il be s u b s t a n t i a l ly completed on or about March 15 and a t he t he p r o p er documents can be f i l ed with, t he PWA to e x p e d i te Committee should be a u t h o r i z ed to act f or t he Board in making t he f i n al Board of t h e se p r o j e c ts so t h at t he payment of t he f i n al g r a nt so t h at t he c o n t r a c t o rs can be paid* i n s p e c t i on f or On motion of Mr* Berkey, seconded by Mr. LlcPherson, same committee. it was v o t ed to approve c o n t i n u a t i on of t he The Committee a c t i ng f or t he Board on :PWA m a t t e rs r e p o r ts t he f o l l o w i ng a c t i o n: 1. That it h as a c t ed f or t he Board in approving a change in t he s p e c i f i c a t i o ns of t he Gymna sium F i e ld House.swimming p o ol at an a d d i t i o n al cost of S104»65» T h is a c t i on r e q u i r es an a d d i t i o n al d e p o s it Committee, in t he C o n s t r u c t i on Account to cover it which h as been a u t h o r i z ed by t he On motion of Mr. Berkey, seconded by Mr. Brody,. it was voted to approve the above item. SECRETARY^ ITEMS No action on request Mich. Horse Breed- i eroT Assoc. | for bidg. 1. Communication from the Michigan Horse Breeders' Association recommending the construction of a building to house horses and ether livestock for sales and shows at the College. Acceptance of water gauge recorder from •U.b,#. G-eol. Survey T r a n s f er of $479-42 to E i re H o t e c t i on i Account. No action. 2. The U. S. G e o l o g i c al Survey o f f e rs to t he College a w a t er gauge r e c o r d er f or r e c o r d i ng f l u c t u a t i o ns of water d e p t hs in t he Red Cedar River valued at S250.OQ t > be i n s t a l l ed a chamber t h at has oeen e s p e c i a l ly provided f or in t he new Farm Lane b r i d g e. it t he in On motion of Mr. Mcpherson, seconded by Mr. Brody, t he gauge from t he U. S. G e o l o g i c al Survey. it was v o t ed to approve t he a c c e p t a n ce of 3* The moving of f i re h y d r a n ts about t he campus in accordance w i th t he recommendation of our i n s u r a n ce companies had r e q u i r ed an e x p e n d i t u re of $479.42 f or m a t e r i al and time oy s k i l l ed m e c h a n i c s. A ll common l a b or v/as performed by t he .WPA. a u t h o r i z ed to t r a n s f er D i e t e d. t h is sum to t he E i re P r o t e c t i on Account so t h at is recommended t h at Mr. Wilkins be t h is work may be corn- It Resolution to borrow money to pro vide funds to redeem outstanding Auditorium bonds. On motion of Mr. Mcpherson, seconded by Mr. Berkey, it was voted to approve the above re commenda tion. 4. Mr* Cress of the Ann Arbor Trust Company will appear before the Board to report on his efforts to refinance the bonds on the Auditorium and Eield House at a lower rate of interest in accordance with the action of the Board instructing him to do so at the February meeting. a. Resolution of the State Board of Agriculture to borrow money to provide funds to be used to redeem outstanding Auditorium bonds. (Resolution in full follows} WHEREAS, the Stats Board of Agriculture, under the terms and conditions of a certain Trust Agreement between said Board and the Arm Arbor Trust Company, of Ann Arbor, Michigan, as Trustee, issued and sold Michigan State College of Agriculture and Applied Science Audi torium Bonds of the face value of Four Hundred Twenty-five Thousand {3425,000.00) Dollars; which bonds bear date of October 1, 1938, mature serially, and bear interest at the rate of three and one-half .{3if/o) Per cent per annum; and •ffiiEHEAS, said Board, under the terms and conditions of a certain Trust Agreement be tween said parties, issued and sold Michigan State College of Agriculture and Applied Science Auditorium Bonds, Series II, of the face value of One Hundred Fifty-five Thousand (§155,000) Dollars which bonds bear date of April 1, 1939 5 mature serially, and bear interest at the rate of three and one-half (3¾¾) per cent per annum; and WHEREAS, said Board is desirous of refunding the obligations above described on more advantageous terms, and deems it necessary and expedient that it borrow, through the issuance and sale of Auditorium Bonds, the sum of Five Hundred Seventy Thousand ($570,000) Dollars to be used to pay the costs incidental to the retirement of said bonds above described, and WHEREAS, the Ann Arbor Trust Company, of Ann Arbor, Michigan, has submitted for the con sideration of The State Board of Agriculture a Trust Agreement whereby the said funds neces sary for the redemption and retirement of the aforementioned outstanding bonds may be borrowed through the issuance and sale of Auditorium Bonds. It I March 1 1, 1940 1605 SECRETARY* S ITEMS,. continued 4- (Continued) NOW, THEREFORE, BE IT RESOLVED BY THE STATS BOARD'QE A&Ri.Ct3LTDHE, that it borrow the sum of Eive Hundred Seventy Thousand ($570,000.00) Dollars through the issuance and sale of Auditorium Bonds in the aggregate principal sum of"'Five Hundred Seventy Thousand ($570,000) Dollars, all to be paid solely from fees to be charged each student attending Michigan State College of Agriculture and Applied Science as part of his tuition fee, beginning with the spring term of the 1939-40 scholastic year, for the use of the new Auditorium Building which has been substantially completed on the campus of said College and for the uenefits to be derived therefrom. The Auditorium Bonds .to be issued as herein authorized shall be issued in one series .1 to be designated as "Michigan State College of Agriculture and Applied Science Auditorium Bonds,; Series I." Michigan State College of Agriculture and Applied Science Auditorium Bonds/ Series I, shall be dated March 15, 1940, and shall consist of five hundred seventy (570) bonds of the denomination of One Thousand Dollars (SI,000,00} each, numbered one (1) to five hundred seventy (570) both inclusive, and shall mature serially as follows: October..!, 1940 ¢14,000,00 April 1, 1941 15,000.00 October 1, 1941 16,000.00 1942 April 1, 16,000.00 October 1, 1942 16,000.00 April 1, 1943 16,000.00 October 1943 16,000.00 — 9 April 1944 16,000.00 1 October 1, 17,000.00 1944 16,000.00 April 1945 1, October 1945 17,000.00 April 1946 17,000.00 October 1946 •17,000.00 April 1947 18,000.00 October 1947 13,000.00 1, 1, 1, 1, 1, 1, 1, 1 April October April October April October April October April October Aoril October- April October April October 1, i, 1, i, 1, 1, 1, i, . 1, 1, 1, 1, 1948 1948 1949 1949 1950 1950 1951 1951 1952 1952 1953 1953 1954 1954 1955 1955 $18,000.00 18,000.00 19,000.00 19,000.00 19,000.00 20,000.00 20,000.00 20,000.00 20,000.00 21,000.00 21,000.00 21,000.00 22,000.00 22,000.00 22,000.00 23,000.00 Michigan State College of Agriculture and Applied Science Auditorium Bonds,. Series I j numbered one (1) to one hundred fifty-eight (158), both inclusive, shall bear interest at the rate of two per cent (2$) per annum, pauable semi-annually one the first day of April and the j first day of October in eacL year until paid. Michigan State College of Agriculture and Applied Science Auditorium Bonds, Series I, ! numbered one hundred fifty-nine (159) to five hundred seventy (570) both inclusive, shall bear j interest at the rate of three per cent [Jfo) per annum, payable semi-annually on the first day of} | April and the first day of October in each year until paid. Michigan State College of Agriculture and Applied Science Auditorium Bonds, Series 1, may not be redeemed prior to April 1, 1945* but any or all of said bonds may be redeemed on said date or on any subsequent 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 I of all matured interest coupons and a premium of two per cent [2%) of the face value thereof. ! BE IT FURTHER RESOLVED that The State Board of Agriculture shall, beginning with the j spring term of the 1939-40 scholastic year, charge and collect from each student attending Michigan State College of Agriculture and Applied science, until all Auditorium Bonds issued hereunder are paid in full, a stifficient sum, as part of his tuition fee for the use of said Auditorium.and the benefits to be derived therefrom, so that there m il be available at all times funds collected which shall be adequate to meet all payments of principal and interest j on the Auditorium Bonds herein authorized as said bonds shall mature and as said interest shall become payable in accordance with the Trust Agreement hereinbefore referred to. BE IT FURTHER RESOLVED THAT said fees so collected from each student as part of his tuition fee for the use of said Auditorium and the benefits to be derived therefrom shall be segregated and set aside to meet all payments to the Trustee as provided for in said Trust Agreement and shall not be used for any other purpose, it being the intention of this Board that the holders of all outstanding Auditorium Bonds issued hereunder shall receive the maxi- ; xaum assurance that said bonds and all interest which shall accrue thereon shall be paid when due. j BE IT FURTHSR RESOLVED that Robert S. Shaw, President of this Board and John A. Hannah, its Secretary, be and they are hereby authorised, empowered and directed in the name of The State Board of Agriculture and as its corporate act and deed, to execute and enter into the aforementioned Trust Agreement between said Board and the Ann Arbor Trust Company. 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 deed, to execute, sign and countersign the Auditorium Bonds hereinbefore provided for, in such manner 1606 SECRETAIRES ITEMS, continued 4* (Continued) March 1 1, 1940 as is prescribed in the aforementioned Trust Agreement, and to agree to collect, segregate 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 spring term of the 1939-40 scholastic years, for the purpose of securing and paying all payments of principal, interest and reserves for depreciation provided for in said Trust Agreement; and to perform all acts and deeds, and execute all instruments and documents necessaiy, ex pedient and proper in connection with the borrowing of said Five Hundred Seventy Thousand Dollars ($570,000*00) and the issuance and sale of said Auditorium Bonds. 3S IT FDBTHER BESOLVED that said officers be and they are hereby authorized and em powered, for and in the name of The State Board of Agriculture, and as its corporate act and deed, to make, consent to and agree to any changes necessary, expedient or proper, prior to or at the time of the execution of said Trust Agreement, but no such amendment shall change the provisions therein for the amount to be.borrowed, the interest to be paid thereon, the payments to be required to be made therein, or the security to be set aside and/or pledged. Provided, however, nothing herein, contained shall be construed as limiting the right of said officers to alter or change the date of issue of said bonds or date for pay ment of interest or the dates fixed for payments to the Trustee as provided in said Trust Agreement. Said officers, either in said Trust Agreement or by the issuance of said Audi torium 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 of any member or officer of said ^oard, or any of their successors, except as authorized in said Trust Agreements BE IT FQKPHER EESQL^ED that said officers be and they are hereby authorized, em powered and directed, for aid in the name of The State Board of Agriculture and as its cor porate act and deed, to perform all acts, give such notices and execute such instruments as are necessary to call and redeem all Michigan State College of Agriculture and Applied Science Auditorium Bonds and all Michigan State College of Agriculture and Applied.Science Auditorium Bonds, Series II, in accordance with the provisions of the various Trust Agreemeiats pursuant to which said Auditorium Bonds were issued and sold and to perform such other acts and deeds as are necessaiy, expedient and proper to retire any existing indebtedness created through the issuance and sale of said Auditorium Bonds. 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 direc ted 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 EUHTHER RESPITED that should it develop that John A. Hannah, as Secretary of Michigan State College of Agriculture and Applied ^cience. through illness, absence or other- vase, should be unable to perform the acts that he is herein authorized, empowered and direc ted 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. On motion of Mr. McPherson, seconded by Mr. Berkey, it was voted to approve the above resolution. b. Resolution relative to the sale of Auditorium bonds. VJBEEEAS, The State Board of Agriculture has authorized the issuance of Michigan State College of -Agriculture and Applied Science Auditorium Bonds, Series I, of the face value.of Five Hundred Seventy-Thousand Dollars (§570,000»00); of which bonds, bonds numbered one (I) to one hundred fifty-eight (158), both Inclusive, bear Interest at the rate of two per cent (25¾) per annum, payable smi-annually on April 1 and October I of each year, and bonds numbered one hundred fifty-nine (159) "to five hundred seventy (570) > both inclusive, bear in terest at the rate of three per cent (3/¾) per annum, payable semi-annually on said dates; and which bonds, when sold,, will provide funds t.o call and redeem all outstanding Mi chigan State College of Agriculture and Applied Science Auditorium Bonds and Michigan State College of Ag riculture and Applied Science Auditorium Bonds, Series II, heretofore issued by this Board, which will be outstanding on April 1, 1940; K0W, TKEKEPORE, BE II RESCIND BY THE STATE BOARD 0E AGRICULTURE that Robert S. Shaw, President of The State Board of Agriculture, and John A. Hannah, Its Secretary, be and they are hereby authorized as follows; I. To enter into a contract with the First of Michigan Corporation, of Detroit, Michigan, for the sale of Michigan State ^ollege of Agriculture and Applied Science Auditorium ^onds, Series I, of the face value of Eour Hundred Eighteen Thousand Dollars (0418,000,00), which bonds shall be numbered one (l) to four hundred eighteen (418),. both inclusive, and shall mature on October 1, 1940, through April 1, 1952, both inclusive, at the face value thereof, plus accrued interest and a premium of one-quarter of one per cent (¼ of 1%) of the face value thereof; and to see and deliver said bonds to said First of Michigan Corporation upon the payment of said contract -price. Resolution relative to sale of Aud. bonds. SECRET-ARTS ITEMS/ continued 4.. (Continued) March 1 1, 1940 1607 j ; 2. To enter into a contract with the Ann Arbor Savings and Commercial Bank, a Miehi- ! | gan Banking Corporation, of Ann Arbor, Michigan, for the sale of Michigan State College of Agriculture and Applied Science Auditorium Bonds, Series I, of the face value of Twenty- seven Thousand Dollars ($27,000.00), which bonds shall be numbered four hundred nineteen (4.19) j to four hundred forty-five (445), both inclusive, Twenty-one Thousand Dollars ($21,000.00} of ! which bonds shall mat tire on October 1, 1952, and Six Thousand Dollars ($6,000.00) of which j bonds shall mature on April-X,. 1953/ at the face value thereof, plus accrued interest and a premium of one-quarter of one per cent (.£ of 1%) of the face value thereof; and to sell and j deliver said bonds to said.Ann Arbor Savings and Commercial Bank upon the payment of said con- \ tract price. 3* To purchase as an investment for Michigan State College of Agriculture and Applied j Science Michigan State College of Agriculture and Applied Science Aiditorixm Bonds, Series I, J of the face value of One Hundred Twenty-five Thousand Dollars ($125,000.00), which bonds shall j be numbered four hundred forty-six (44-6) to five hundred seventy (570), Fifteen Thousand j Dollars (115,000.00} of which bonds mature on April 1, 1953, and the balance of which bonds j mature on October 1, 1953? through and including October 1, 1955, at the face value thereof; j and to sell and deliver said bonds to said Michigan State College of Agriculture and Applied j j Science upon the payment of said contract price. On motion of Mr. Berkey, seconded by Mr. McPherson, it was voted to approve .the above resolution. c. Resolution relative to the--employment of Ann Arbor Trust Company as Trustee in connection with the issuance and sale of Auditor!urn bonds. VffiSKEAS, The State Board of Agriculture has authorized the execution of a Txmst Agree ment with the Ann Arbor Trust Company, of Ann Arbor, Michigan, to be dated as of March 15, 1940, incidental to the issuance and sale of Auditorium Bonds in the Aggregate principal amount of .Five Hundred Seventy Thousand Dollars ($570,000.00) in order to provide funds to call and redeem outstanding Michigan State College of -Agriculture and Applied Science Audi torium Bonds and Michigan State College of Agriculture and Applied Science Auditorium, bonds'.,' Series II, on April 1, 1940. NOW, THEREFORE, BE IT RESOLVED BY THE STATE BOARD OF AGPJCULTTJRE that Robert S. Shaw, President of The State Board of .Agriculture, and John A* Hannah, its Secretary, be and they are hereby authorized and directed to execute an Agreement between The State Board of Agricul ture and the Ann Arbor Trust Company, a copy of which is attached hereto, which employs said Ann Arbor Trust Company as Trustee, and fixes the compensation to be paid by this Board to said Ann Arbor Trust Company for performing the services to be performed by it under the Trust Agreement this day authorized. Resolution relative to employment of Ann Arbor Trust Col as Trustee On motion of Mr. Mcpherson, seconded by Mr. Berkey, it -was voted to approve the above resolution. d. Resolution of the State Board of Agriculture to borrow money to provide funds to call and redeem outstanding Gymnasium and Field House Bonds. WIEREAS, The State Board of Agriculture, under the terms and conditions of a certain Trust Agreement between said Board and the Ann Arbor Trust Company, of Ann Arbor, Michigan, as Trustee, issued and sold Michigan State College of Agriculture and Applied Science Gyma- slum and Field Blouse Bonds of the face value of Four hundred Fifty Thousand Dollars ($450,000.00); which bonds bear date of October 15,1938, mature serially,"and bear interest at the rate of three and one-half per cent ( 3 ^) per annum; and I Resolution I to borrow ! money for j: refinancing \ Gym-Field ! House bonds. VJEEREAS, said Board, under the terms and conditions of a certain Trust Agreement be tween said" parties, issued and sold Michigan State College of Agriculture and Applied Science Gymnasium and Field House Bonds, Series II, of the face value of One Hundred Seventy-five Thousand Dollars (8175,000.00); which bonds bear date of April 15, 1939> mature serially, and ; bear interest at the rate of three and one-half per cent (3¾¾) Per annum; and WHEREAS, said Board is desirous of refinancing the obligations above described on morel advantageous terms, and deems it necessary and expedient that it borrow, through the issuance 'j and sale of gymnasium and ^ield House Bonds, the sum of Six Hundred Twenty-tv\ro Thousand | Dollars (¢622,000.00) to be used to pay the costs incidental to the redemption of said bonds | above described; and VJBEREAS, the Ann Arbor Trust Company, of Ann Arbor, Michigan, has submitted for the consideration of The State Board of Agriculture a Trust Agreement whereby the said funds necessary for the redemption and retirement of the aforementioned outstanding bonds may be borrowed through the issuance and sale of Gymnasium and Field House Bonds, f NOV/, THEREFORE, BE IT RESOLVED BY THE STATE BOARD OF AGRICUmiRS, that it borrow the sum of Six Hundred Twenty-two Thousand Dollars ($622,000.00), through the issuance and j sale of Gymnasium and Field House Bonds in the aggregate principal sum of Six Hundred Twenty \ two Thousand Dollars (|622,000.00), all to be paid solely from fees to be charged each student; attending Michigan State College of Agriculture and Applied Science, as part of his tuition fee, beginning with the spring term of the 1939-194-0 scholastic year, for the use of the new Gymnasiimi and Field House, which is now substantially completed on the campus of said College,; at East Lansing, Michigan, and for the benefits to be derived therefrom. SECRETARY1S ITEMS, continued 4. (Continued) March 11,-. 194O The Gymnasium and IIeld House bonds to be issued as herein authorized shall be issued in one series, to be designated as "Michigan State College of Agriculture and Applied Science Gymnasium and Field House Bonds, Series I". Michigan State College of Agriculture and Applied Science Gymnasium and Held House Bonds, Series I, shall be dated March 15? 1940, and shall consist of six hundred twenty- two (622} bonds of the denomination of One Thousand Dollars ($1,000.00) each, numbered one (1} to six hundred twenty-two (622) both inclusive, and shall mature serially as follows: October Anril October April October April October April October April October Asril October April October April 1 1. 1, 1> 1, 1, iv 1, 1, 1, 1, 1, 1 -1- ? 1, 1» 1940 1941 1 9a 1942 1942 1943 1943 1944 1944 1945 1945 1946 1946 1947 1947 1948 — y $i6-;ooo.oo 17,000.00 17,000.00 17,000.00 17,000.00 17,000.00 18,000.00 17,000.00 13,000.00 18,000.00 19,000.00 18,000.00 19,000.00 19,000.00 19,000.00 20,000.00 October -^-TDril October April October April October April October April October April October April October 1, 1, I, 1, 1, 1, 1, 1> "1 — > 1, 1» 1, 1, 1, 1948 1949 1949 1950 1950 1951 1951 1952 1952 1953 1953 1954 1954 1955 1955 ¢20,000.00 20,000.00 21,000.00 21,000.00 21,000.00 21,000.00 22,000.00 22,000.00 23,000.00 23,000.00 23,000.00 23,000.00 24,000.00 25,000.00 27,000.00 Michigan State College of Agriculture and Applied Science Gymnasium and Field House Bonds, Series I, numbered one (1} to one hundred seventy-two (172), both inclusive, shall bear interest at the rate of two per cent (2%) per annum, payable semi-annually on the first day of April and the first day of October in each year until paid. Michigan State College of Agriculture and Applied Science Gymnasium and 51 eld House Bonds, Series I, numbered one hundred seventy-three (173) to six hundred twenty-two (622), both inclusive, shall bear interest at the rate of three per cent (3%) per annum, payable semi-annually on the first day of April and the first day in October in each year until paid. Michigan State College of Agriculture and Applied Science Gymnasium and 21 eld House Bonds may not be redeemed prior to April 1, 1945, but any or all of said bonds may be redeemed on said date or on any subsequent interest payment date. 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'two per cent (2%) of the face value thereof. BE IT JTDETHER EES0LVED that The State Board of Agriculture shall, beginning with. the spring term of the 1939-1940 scholastic year, charge and collect from each student attend ing Michigan State College of Agricult-ore and Applied Science, until all Gymnasium and Field -^ouse Bends issued hereunder are paid in full, a sufficient sum, as part of his tuition fee, for the use of said Gymnasium and Pi eld House and for the benefits to be derived therefrom, so that there will be available at all times funds collected which shall be adequate to meet all payments of principal and interest on the Gymnasium and Eield House Bonds herein author ized as said bonds shall mature and as said interest shall become payable in accordance with the Trust Agreement hereinbefore referred to. BE IT FJRTHER RESOLVED that said fees, so collected from each student as part of his tuition fee for the use of said Gymnasium and El eld House and the benefits to be derived therefrom, shall be segregated and set aside to meet all payments to be made to the Trustee as provided for in said Trust .Agreement, and shall not be used for any other purpose; it being the intention of this Board that the holders of all outstanding Gymnasium and EI eld House Bonds issued hereunder shall receive the maximum assurance that said bonds and all interest which shall accrue thereon shall be paid'when due. BE IT FURTHERRESOLVED that Robert 3. Shaw, President of this Board, and John A. Hannah, its Secretary, be and they are hereby authorised, empowered and directed in the name of The State Board of Agriculture and as Its corporate act and deed, to execute and enter into the aforementioned Trust Agreement between this Board and the Ann Arbor Trust Company. 3E IT FURTHER RESOLVED that said officers be and they are hereby authorized, em powered and directed, in the name of The State Board of Agriculture and as its corporate act and deed, to execute, sign and countersign the Gymnasium and Held House Bonds hereinbefore provided for, in such manner as is prescribed in the aforementioned Trust Agreement; and to agree to collect, segregate 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 spring term of 1939-1940 scholastic year, for the purpose of securing and paying all payments of principal, interest, and reserves for depreciation provided for in said Trust Agreement; and to perform all acts and deeds and execute all instruments and documents necessary, expedient and proper in connection with the borrowing of said Six Hun dred. Twenty -two Thousand Dollars (.$622,000.00) and the issuance and sale of said Gyxanasium and Field House Bonds. March 11, 1940 1609 SECRETARYT S ITEMS. cont inued A. (Continued) BE IT FURTHER EESOLVED that said officers be and they are hereby authorized and em powered, for and in the name of The State Board of Agriculture and as its corporate act and deed, to make, consent to,- and agree to any changes necessary, expedient or proper, prior to or at the time of the execution of said Trust Agreement; but no such amendment shall change the provisions therein for the amount to be borrowed, the interest to be paid thereon, the payments required to be made therein or the security to be set aside and/or pledged. Provided, howeyer, nothing herein contained shall be construed as limiting the right of said officers to alter or change the date of issue of said bonds or date for payment of interest or the dates fixed for payments to the Trustee as provided in said Trust Agreement. Said officers, either in said Trust Agreement or by the issuance of said Gymnasium and Field Bouse 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 of any member or officer of said Board, or any of their successors, except as authorized in said Trust Agreement. BE IT FURTHER RESOLVED that said officers be and they are hereby authorized, empowered and directed, for and in the name of The State Board of Agriculture and as its corporate act and deed, to perform all acts, give such notices and execute such instruments as are necessary to call and redeem all Michigan State College of Agriculture and Applied Science Gymnasium and Field House Bonds and all Michigan State College of Agriculture and Applied Science Gymnasium j I and Eield House Bonds, Series II, in accordance with the provisions of the respective Trust Agreements pursuant to which said Gymnasium and Eield House Bonds were issued and sold, and to | perform such other acts and deeds as are necessary, expedient and proper to retire any existing | j indebtedness created through the issuance and sale of said Gymnasium and Eield House Bonds. BE IT FURTHER' EES0L7ED that should it develop that Robert S/ Saav/, as Pre Michigan State College of Agriculture and Applied Science, through illness, absence or otherwisej 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 acy and all acts and j, deeds herein authorized and directed to be performed by said Robert S. Saaw; and asy action so taken by said Charles 0. .Wilkin's shall be as binding on The State Board of Agriculture as if -performed by said Robert S. Shaw, \ | of ! BE IT FUHCHER '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 that he Is herein authorised, empowered and directed to perform, then, in that case, said Charles 0. Wilkins, Comptroller of Michigan State College of ', j Agriculture and Applied. Science, is hereby authorized, empowered, and directed to perform • j 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 j Agriculture as if performed by said John A* Hannah* On motion of Mr* McPherson, seconded by lis:.. Bsrkey, it was voted to approve the above resolution. e. Resolution relative to the sale of Gymnasium and Eield House Bonds, ^Resolution jrelatlve to ftHEREAS, the State Board of Agriculture has authorized- the Issuance of Michigan State|sa-e °r S^' College of Agriculture and Applied Science Gymnasium and Jl eld House Bonds, Series I, of the face value of Six Hundred Twenty-two Thousand Dollars ($622,000.00}; of which bonds, bonds numbered one (1} to one hundred seventy-two (172) , both inclusive, bear interest at the rate of two per cent {2%} per annum, payable semi-annually on April 1 and^ctobdr. 1 of each year, and bonds numbered one hundred seventy-three (173) to. six hundred twenty-two (622), both inclusive, bear interest at the rate of three per cent [J??) per annum, p^ble semi-annually on said dates: and which bonds, when sold, will provide funds to call and redeem all outstanding Michigan State College of Agriculture ar.d Applied Science Gymnasium and 51 eld House Bonds and Michigan State College of A-griculture and Applied Science Gymnasium and Field House Bonds, Series II, heretofore Issued by this Board, which will be outstanding on April 15, 1940; field house bonds. 1¾ THEREFORE, BE ^ BY THE STATE BOARD OF AGRICULTURE that Robert S. Shaw, President of The State Board of Agriculture, and John A. Eanriah, its Secretary, be and ttey are hereby authorized as follows: 1. To enter into a contract or contracts for the sale of Michigan State College of Agriculture and Applied Science Gymnasium and Field House Bonds, Series I, of the face value of Five Hundred Seventy-two Thousand Dollars (¢572,000.00), which bonds shall be numbered one (1} to give hundred seventy-two (572}, both inclusive, and shall mature on October 1,. 194-0, through April 1, 1955, both inclusive, at not less than the face value thereof, plus accrued interest; and to sell and deliver said-bonds upon the payment of said contract price* 2. To purchase as an investment for Mi chigan State College of Agriculture and Applied Science, Michigan State College of Agriculture and Applied Science Gymnasium and Field House ^onds, Series I, of the face value of Fifty Thousand Dollars (§50,000.00} which bonds shall be numbered five hundred seventy-three (573) to six hundred twenty-two (622} both in clusive, at the face value thereof. On motion of ^r. •^ci'herson, seconded by Mr* Berkey, it was voted to approve the above resolution. 1610 SECRETARY'S ITEMS 4* (Continued) March 11, 1940 Resolution em ploying Ann ! Arbor Trust Co. as Trus- j tee in con nection with I sale &. issu- | ance of gym field house bonds* f. Resolution relative to the employment of the -Ann Arbor Trust Company as trustee in connection with the sale and issuance of Gymnasium and 51 eld House Bonds* YffiEKEAS, The State Board of Agriculture has authorized the execution of a Trust Agreement with the Ann Arbor Trust Company, of Ann Arbor, Michigan, as Trustee, to be dated as of March 15, 1940, incidental to the issuance and sale of Gymnasium and Pi eld House Bonds in the aggregate principal amount of Six Hundred Twenty-two Thousand Dollars (^622,000.00), in order to provide funds to call and redeem outstanding Michigan State College of Agricul ture and Applied Science Gymnasium and Field House Bonds and Michigan State College of Ag riculture and Applied Science Gymnasium and Field House Bonds, Series II, on April 15, 1940. HOW, THEREFORE, BE IT HES0L7ED BY THE STATE BOARD OF AGRICULTURE that Robert S. Shaw, President of The State Board of Agriculture, and John A, Hannah, its Secretary, be and they are hereby authorized and directed to execute an Agreement between The State Board of Agricul- ture and the Ann Arbor Trust Company, a copy of which is .attached hereto, which fixes the compensation to be paid by this Board to said Ann Arbor Trust Comparer for performing the ser vices to be performed by it under the Trust Agreement this day authorized. | j I On motion of ^r. ^erkey, seconded by Mrs* Masselihk:, it was voted to approve the above resolution. 140,000 worth of Jenison 15. The Secretary as executor of the Estate of Fred C* Jenison recommended that he be authorized Field House Bonds to be purchased with money from Jenison es- jtion of the Secretary. tate. to purchase Gymnasium and Field House Bonds with $40,000.00 of the assets of the Jenison Estate. On motion of -Mr. McPherson, seconded by Mr. Jakway, it was voted to approve the above recommenda- Approval of lease and purchase op- ; tlon on Toolan farm. ! The S e c r e t a ry r e p o r t ed t he w i l l i n g n e ss of t he Toolan E s t a te to renew t he l e a se on t he 17 a c r es of l a nd l e a s ed from them at #100.00 p er y e ar with a p u r c h a se o p t i on of $300.00 p er a c re at any time during t he f i ve y e ar p e r i o d, P h i l l i ps Road with t he e x c e p t i on of a r i g h t - o f - w ay on t he n o r th end of t h is f r o n t a ge c o n n e c t i ng P h i l l i ps Road w i th t he p r o p e r ty l e a s ed and o p t i o n e d. T h is r i g h t - o f - w ay purchase o p t i o n. *he Toolan E s t a te r e t a i ns 2 .2 a c r es of f r o n t a ge on i n c l u d ed in t he is ;0n motion of Mr. Bsrkey, seconded by Mr. McPherson, it was voted to approve t he l e a se and purchase i n d i c a t e d, Communication opt i on on t he terras from Miss Ed na Smith read^7. Communication from Miss Edna 7. Smith was r e ad to t he Board t h a n k i ng t he Board f or c o u r t e sy in c o n t i n u i ng h er l e a ve w i th pay as a r e s u lt of t he i n j u r i es she s u f f e r ed summer of 1939* j j SeJf-liquidathg ; 8. Communication from Mr. Thomas Read, A t t o r n ey G e n e r a l, was r e ad to t he Board r u l i ng t h at b l d g. bonds j exempt from i n t a n g i b le t ax : ;! law. ' s e l f - l i q u i d a t i ng b u i l d i ng bonds i s s u ed by t he S t a te Board of A g r i c u l t u re a re exempt under S t a te I n t a n g i b le Tax Law. t h e ir in t he t he t he \9. Communication from t he S p a r t an Y.M.C.A. r e l a t i ve to t he S t a te News was r e ad to t he Board. JC0MITTEE REPORTS :!• At t he meeting of t he Board on ifebruary 22nd 3 t he Retirement by t he Board to -oermit recommendations. Action was d e f e r r ed gram by t he two new members: Committee p r e s e n t ed t he a s t u dy of t he Retirement P r o- f o l l o w i ng Approval of r e t i r e m e nt of Br. Hib bard and Mr. E v e r s o l e. W. Chapman Darlington Eversole 1*. Eerie Hibbard Anna R. P. Department Physics Botany An. Pathology Registrar1s Bot any Date of Birth 9/10/74 6/23/75 5/7/75 3/27/75 4/2/75 Dat e Employed 1/1/07 8/1/H 9/1/30 10/1/14 9/15/11 Salary $4500 3300 1020 2000 3300 Annual Retire- ment Pension $1500 874 480 520 IO44 ;0n motion of M-*. Mcpherson, seconded by Mr. Berkey, it was voted to approve the retirement of Mr. \R. P# Hibbard and Mr. E. P. Sversole at the retirement pension above stated and to approve the re tention of Professor Chapman, Dr. Darlington and Miss Perle far one more year. •.Girls Dorm at 4~H club camp at Chath am to be re- j I built :2. Report of the Committee, authorized by the February meeting of the Board to investigate the .snow; damage- of the 4~H Club camp buildings at Chatham. Mr. Munson and Mr.' Reniger appeared before the Board and Mr. Munson recommended the rebuilding of the northwest corner of the girls' dormitory in accordance with specifications and blueprints presented by him. Pie also recommended strengthening the remainder of the building in accordance with definite specifi cations that he presented. jOn motion of Mr. 3erkey? seconded by Mr. Jakway. it was voted that the building be rebuilt in ;accordance with the recommendation of Mr. Munson at a cost not to exceed §4,000.00. The meeting adjourned a* 2:15 P*M. (yfnjut fAJ, ypfTfa^o- ^ L a K G