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Show year. The question of awarding part of the business to each of these bidders was discussed, but after reading a statement from the purchasing agent and a legal opinion by Dean Emeritus Wil- COAL BIDS liam H. Leary of the School of Law, Regent Adam S. Bennion moved that the lowestbidder be awarded the business. Motion was seconded by Regent Bamberger and carried. The sending of the following letter to the Housing and Home Finance Agency, prepared by the President, relative to the financing of the men's dormitory was approved. ,. _ Office of the President 222 Park Building University of Utah Salt Lake. City 1 -, Albert Ray Olpin, President Housing and Home Finance Agency Room 202., 222 South West Temple LETTER TO HOUSING AND HOME FINANCE AGENCY RELATIVE TO MEN'S DORMITORY APPROVED August 21, 1951 Mr. H. C. Jessen, DistrictEngineer CONSIDERED AND AWARDED TO LOWEST BIDDER Re Utah 42-CH-1 'Men's Dormitory University of Utah Salt Lake City, Utah Dear Mr. Jessen: Pursuant to our several telephone conversations and in reply to your letter of July 23, 1951, I am pleased to furnish the following information, all of which has been endorsed by the Board of Regents or its Executive Committee: ,1" The Board of Regents would, of necessity, have to deposit with the State Building Board enough money to cover the costs of construction and architect's fees before the State Building Board would award a contract. This would include, of course, all'non-Federal funds earmarked for dormitory construction. The Board of Regents is prepared to pledge all or any part of the University's land-grant income for a particular year for bond retirement if revenues from dormitory operations for that year fall below expectation. It would be reluctant, however, to accumulate the land-grant interest from year to year as security. Neither does the Board feel that the accumulated income would be required. The University would be willing to select the paying agent and trustee satisfactory to the administrator in keeping with good practice in handling public bond issues. |
