Kresge Library

MINUTES of THE MEETING
OF THE
BOARD OF TRUSTEES
January 16, 1969

Authorization was requested to sell the following stock received by Oakland University, all
listed in gifts and grants to be accepted at this Board meeting:

300 shares of Parke, Davis & Company capital stock from Mrs. Elizabeth B. Graham
From Mr. & Mrs. Henry C. Johnson:
-- 50 shares of The One William Street Fund
--   7 shares of Safeway Stores, Inc.
550 shares of Ford Motor Company common stock from Mr. & Mrs. Marvin L. Katke.
100 shares of Ford Motor Company common stock from Theodore 0. Yntema
12 shares of General Motors common stock from Mr. & Mrs. Frederick Colombo.

On motion by Mr. Nisbet, seconded by Mr. Huff, it was voted to authorize the sale of the
stocks listed above.

Mr. Hartman raised the question as to the disposition of the request made by Mr. Varner
at the November Board meeting that he be permitted to accept membership on the Board of Directors of the First Federal Savings and Loan Association of Detroit.

The President distributed copies of a letter from University Attorney Carr dated January 14,
1969, copy of which is filed with the materials for this Board meeting.

Mr. Varner indicated that he had inquired of the First Federal Savings and Loan Association management to learn whether or not any mortgages or other obligations of the University or related to the University are held by the organization and that he has been assured that there are no such investments but that all of their records will be searched and if there are any they will be disposed of and that there will be no more.

Motion was made by Mr. Hartman, seconded by Mr. Thompson, that Chancellor Varner be granted permission to accept a directorship of the First Federal Savings and Loan Association in Detroit. Carried

Resignation: Richard R. Shank, Assoc. Prof & Assoc. Dean in Engineering, eff. 12/31/68

Leaves--Sabbatical

Robbin R. Hough, Assoc. Prof., Bus. Adm. & Econ. at full salary to study at home, eff. 1/6/69 to 4/16/69.
Gottfried Brieger, Asst. Prof., Chemistry at half pay to study at Harvard, effective 9/4/69 to 4/21/70.
Jack R. Moeller, Assoc. Prof, Mod. Lang & Lit at full salary to study in Germany, effective
1/7/70 to 4/21/70
Robert M. Williamson, Professor in Physics at half pay to study at MIT, effective 9/4/69 to
4/21/70.

Leaves--Other

Henry Rosemont, asst. Prof. Philosophy at no salary, effective 8/15/69 to 8/14/70, to study
at MIT.

Transfers & Changes in Assignment

Robbin R. Hough, Assoc. Prof., Bus. Adm. & Econ., relinquish chairmanship, eff. 1/1/69
Robert I. Facko, Asst. Prof. & Acting Chrm. in Music at additional $100 per month, eff.
1/1/69 to 4/30/69.
Siddheshwar Mittra, Assoc. Prof. & Acting Chrm. Bus. Adm. & Econ. at additional $100 per
month, effective 1/1/69 to 4/30/69.

Salary Changes

John G. Blair, Assoc. Prof. English from $11,500 to $12,200, eff. 2/1/69
Glen Brown, Dir. AP-IX Admissions from $17,200 to $17,700, eff. 2/1/69
Rochne DeLauney, Spec. Accts. Supv. AP-III Bus. Off from $10,300 to $10,800, eff. 2/1/69
Jon Froemke, Asst. Prof. Math from $10,700 to $11,200, eff. 2/1/69
David H. Jones, Purch Agt. AP-VII Purchasing from $13,800 to $14,300 eff. 2/1/69
Richard S. Lyons, Assoc. Prof. English from $11,200 to $11,700, eff. 2/1/69
Robert J. McGarry, Chf. Acct. AP-VIII Bus. Off. from $14,600 to $15,200, eff. 2/1/69

Appointments

Glafyra R. Ennis, Instr. Mod. Lang & Lit at $8,000, effective 8/15/69
Anna Rita Massacesi, Instr. Mod. Lang & Lit at $7,000, effective 8/15/69

Recommendation from the Director of Personnel

Establish a Departmental Secretary V position in Special Projects. (p. 347)

Gifts & Grants

Gift of mirrors valued at $300 from Paul Travis of Rochester to be used in the Academy of
Dramatic Art.

Gift of two 25-inch Stellite mirrors valued at $3,000 from the Walker Metallurgical Corp. of
Detroit to be used in the Physics Department.

Gift of 25 watercolors valued at $4,335 from the Ford Motor Company of Dearborn to display in various offices.

Grant of $50 from the Oakland County Engineering Society of Detroit for the Oakland County Engineering Student Loan Fund.

Grant of $745 from various donors for the Mary Fogarty Anibal Trust Fund.

Grant of $1,000 from the Roy G. Michell Foundation for Scholarship account #26727.

For Awards Account #26759:

$   300 from John M. Brundage of Albion
$1,232 from the Daily Tribune of Royal Oak
$1,600 from The Charles B. DeVlieg Foundation of Royal Oak
$1,000 from Dwan-Musselman of St. Joseph
$   500 from George Higgins of Ferndale
$   875 from Kamehameha Schools of Honolulu
$   315 from the Rockford Public Schools
$   200 from L'Anse Creuse High School PTA of Mt. Clemens
$   375 from the New York Medical College of New York City
$   150 from the Ott Memorial Scholarship.of Pontiac
$   150 from Pleasant Ridge Woman's Club Trust Fund
$1,170 from The Pontiac Press
$   400 from Southfield High School
$     15 from Woman's National Farm & Garden Association of Rochester

For Scholarship Account #26731

$   165 from Delta Kappa Gamma of Rochester
$   425 from The Detroit Edison Co. of Detroit
$2,750 from General Motors Corp. of Detroit
$1,512 from The National Foundation of Rochester
$   616 from Ralph T. Norvell of Pontiac
$1,020 from The Wayne Oakland Bank of Royal Oak

Grant of $150,000 from the Matilda R. Wilson Fund of Detroit to establish a professorship in
the School of Engineering to be known as the John F. Dodge Engineering Chair.

Grants as follows to be used under the direction of Royce Butler in the Kresge Library:

$200 from James L. Howlett of Pontiac
217 shares of General Motors common stock valued at $17,871.13 from Mr. & Mrs. Edward S. Wellock of Bloomfield Hills.

Grant of $7,177.58 from the Musical Education Fund of Chicago to be used under the direction of Wilbur Kent in the Meadow Brook School of Music to support the 1968 program.

Grants as follows to be used under the direction of John Fernald to support the Fernald Company of the Meadow Brook Theatre.

$      20 from Charles F. Adams of Birmingham
$      15 from Jerry and Leonard Bielfield Foundation of Detroit
$4,000 from The Josephine E. Gordon Foundation of Detroit
$5,000 from the Higbie Manuf. Company of Rochester
$981.17 from Alan E. Schwartz of Detroit
$9,000 from the Lulu C. Wilson Trust of Birmingham

Grants as follows to be used under the direction of Chancellor Varner:

550 shares of Ford Motor Company common stock valued at $29,631.25 from Mr. & Mrs. Marvin L. Katke of Bloomfield Hills
$400 from Mr. & Mrs. Norman B. Weston of Birmingham to be used $100 for the Meadow Brook Theatre, $100 for the Meadow Brook Music Festival, and $200 for Discretionary gift fund.
50 shares of The One William Street Fund, Inc., valued at $933 and 7 shares of Safeway Stores, Inc. valued at $204.75 from Mr. & Mrs. Henry C. Johnson of Bloomfield Hills, the proceeds of the sale of the stock to be used for the Meadow Brook Music Festival.
$4,000 from the Josephine E. Gordon Foundation of Detroit for the Meadow Brook Music Fest.

For the Discretionary Gift Fund:

$ 50 from Dr.& Mrs. Joseph Carp of Detroit
$ 500 from Century Brick Co. of Detroit
$ 100 from Mr. & Mrs. Fred A. Gluckson of Birmingham
300 shares of Parke, Davis & Co. capital stock valued at $8,962.50 from Mrs. Elizabeth Graham of Bloomfield Hills
$ 500 from The Mary Louise Johnson Foundation of Detroit
$ 100 from Mr. & Mrs. A. S. Linzell of Grosse Pointe (p. 348)
$ 200 from M r. & Mrs. Wilfred J. Lobb of Clarkston
$ 200 from Mr. & Mrs. Donald D. O'Dowd of Rochester
$1,500 from The Pontiac Press
$ 200 from Mr. & Mrs. Buel E. Starr of Holly
$ 200 from Mrs. Nancy S. Straith of Pleasant Ridge
$ 25 from Chancellor D. B. Varner
100 shares of Ford Motor Company stock valued at $5,425 from Theodore 0.  Yntema Bloomfield Hills

For the Chancellor's Club:

$1,000 from H. G. Bixby of Detroit
$1,000 from Mr. & Mrs. Warren S. Booth of Birmingham
$1,000 from Mr. & Mrs. Rinehart S. Bright of Bloomfield Hills
$1,000 from Chrysler Corp Fund of Detroit
$ 500 from Edward N. Cole of Bloomfield Hills
12 shares of General Motors stock valued at $988.50 from Mr. & Mrs. F. Colombo
$988.50 from Mr. & Mrs. Frederick Colombo of Bloomfield Hills
$1,000 from Mr. & Mrs. George M. Endicott of Grosse Pointe Farms
$1,750 from Mrs. James E. Goodman of Birmingham
$1,000 from Mrs. E. Curtis Matthews of Bloomfield Hills
$1,000 from Mr. & Mrs. Norman F. Mealey of Detroit
$ 500 from Ben D. Mills of Bloomfield Hills
$1,000 from Paul H. Travis of Rochester
$1,080.75 from Mr. & Mrs. R. J. Williams of Birmingham

On motion by Mr. Merriman, seconded by Mr. Thompson, it was voted to approve the Oakland University Personnel Changes and Gifts and Grants.

On November 7 Oakland University received bid proposals for its Central Heating Plant authorized by the Trustees at its July 21, 1966, meeting. The following bids were submitted:

Architectural  
J. A. Fredman, Inc.
$1,215,818
J. A. Ferguson Construction Co.
1,507,544
Spence Brothers
1,593,000
   
Electrical  
T. L. Jacobsen Electric Co.
696,883
Schultz Electrical Co.
708,000
F. W. Moote Electric Co.
744,877
Cates Electric Co.
806,900
   
Mechanical  
Port City Heating & Plumbing Co.
1,349,000
Stanley-Carter Co.
1,685,000
Eames & Brown, Inc.
1,708,000
Steve Kruchko Co.
1,815,000
Laya Plumbing & Heating Co.
1,828,827
John E. Green Plumbing Co.
1,928,000
Brady Plumbing & Heating Co.
1,969,500
These bids increased the project budget $578,815.54 over the $3,443,000 appropriated by the legislature on June 28, 1968. Therefore, in consultation with the architect, the State of Michigan Building Division, and the Oakland University staff and in view of the decision of the Joint Capital Outlay Committee not to increase the appropriation, it is recommended that all bids be rejected and Oakland University be authorized to seek new bids for this project.

On motion by Mr. Nisbet, seconded by Mr. Stevens, it was voted to approve the above recommendation.

Miscellaneous

At the December Board meeting the Trustees approved awarding of the contracts for the Oakland Center addition and the financing to cover this project in the amount of $2,600,000. It is now recommended that the Board formally approve the resolution authorizing the issuance of bonds to pay the cost of this project and the execution of a trust agreement in accordance with the following summary:

Desc

Purpose  
Oakland Center Addition
$2,400,000
Debt Service Reserve
200,000
Total
$2,600,000

(p.349)

Description

Dated January 1, 1969, interest only first five years.

$610,000 Serial Bonds maturing from 1975 through 1984.
$450,000 Term Bonds, Series A, maturing 1989
$590,000 Term Bonds, Series B, maturing 1994
$950,000 Term Bonds, Series C, maturing 1999

Public sale, $5,000 denominations, non-callable for ten years, call premiums beginning at 103 in eleventh year.

Average maturity - 21 years.
Net interest Cost 5.75%.

Security
First Five Years
6-30th Year
Pledge of    
     University Fees
$135,000
$184,000
     Investment Income-Debt Service Reserve
112000
11 000
Total
$146,000
$195,000

Other Covenants

The Board agrees to maintain and collect University Fees in an amount sufficient to provide annual sums equal to at least 200% of the maximum annual debt service requirements on all outstanding fee bonds and loans.

Underwriting Group

These bonds will be sold to an underwriting group of Michigan firms headed by First of Michigan Corporation.

Rating

"AA" - Standard and Poor's Corporation

(The long legal resolution has been approved by the attorneys for the Ann Arbor Trust Company and the University Attorney, and the entire 11 pages will be copied into the permanent records.)

On motion by Mr. Stevens, seconded by Mr. Merriman, it was voted to approve the resolution authorizing the issuance of bonds and the execution of a trust agreement for the Oakland University Center.

Adjourned at 12:15 p.m.

The next meeting of the Board of Trustees is scheduled for Thursday evening, February 20 and Friday, February 21. (p.350)

 


Created on 12/12/06 by 12/02/04/ by Linda Hildebrand / Last updated on 8/25/13 by Linda Hildebrand
Oakland University

Oakland University, Kresge Library
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