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Show 122 preceded the Luncheon in Room 304 Union Building meeting. LUNC HEON PRE‘CEDES MEETING -chairman In the absence of Chairman O'Connor, Vice 1:30 P, M_ .at r orde to ing Holbrook presided, calling the meet t. repor his after which he invited the President to present called atBefore presenting his report the President staff se nhou tention to a courtesy of the University Gree in presenting each Regent with a cyclamen. The President proceeded with his report, FOOTBALL GAME INVITATIONS DECLINED He stated that after winning the Conference Football Championship for this season the team had been invited to participate in two bowl games ( Kotton Bowl at El Paso and Pineapple Bowl at Honolulu). However, after several meetings of the team and the Athletic Board, the invitations were declined. The Board of Regents went on record as concurring in the decision and felt that wise action had been taken. President Olpin reported receipt of a telegram (copy filed these minutes) from E. Sandquist, Acting Area Representative of the Community Facilities Service, Housing and Home Finance Agency, Denver, in which he was ad- vised of the approval, under date of December 5, 1951, of the University's application for a loan of $1, 000, 000 for the construction of a men's dormitory; no further information has been received but the President advised the Regents that he was planning to be in Denver tomorrow enroute to Washington, at which time he'wouid‘follow the matter up, including arrangements for obtaining materials, etc. $1, 092, 000 is the estimated cost of the completed building, with an additional $120, 000 for furnishings. Provisions ‘ of the loan are that $92, 000 must be raised by the institution to help with construction costs. The $1, 000, 000 loan can be amortized from operating income over a 40-‘=year period at an interest rate of 2. 73. FEDERAL LOAN FOR DORMITORY APPROVED The President felt very happy about this approval and expressed the hope that by next Board meeting he will have something very Specific to recommend regarding arrangements. Mr. Slack 'Winburn, architect, is prepar" ing plans and specifications which are well under way. During the discussion it was noted that much progress would be difficult during the first quarter of next year due to the present critical material allocations. Of the $92, 000 |
