| OCR Text |
Show 253 of the $1, 000, 000 University of Utah Dormitory Revenue Bonds, 1954., as formulated by said Housing and Home Finance Agency and Chapman and Cutler, attorneys for the university, in such publication or publications and for such length of time as signified by said federal agency and said attorneys. Ways and means of providing $100, 000 for furnishing the dormitory came up again for discussion, It was reported that Dean Leary had worked out a plan whereby a second lien might be placed on-the land grant income to assure repayment to those individuals who would pledge five thousand dollars. each for under- writing a bank loan and guaranteeng to the federal government that funds would be available for furnishing the dormitory when needed. During the period of con- struction an intensive fund-araising drive would be made to provide finances for furnishing the building. Following the discussion, it was the consensus that it would be better not to involve the land grant income, since it might likely have an unfavorable effect on prospective donors, were it known that other provisions have been made, if it became necessary, for payment of the loan. BUILDINGS AND GROUNDS COMMITTEE BUILDINGS and GROUNDS REPORT Report as prepared by Vice-President Morgan is attached to these minutes. , Regent Culp, Chairman of the Committee, com-a mented briefly on the report. He pas-iii1:11:" |
