Proceedings of the Board of Regents (1963-1966)

76

SEPTEMBER MEETING, 1963

Bank of India,.imnited: Account
Established in

the Department of American History to be known as the Edward Scott Beck
American History Scholarships."
Now, Therefore, Be It Resolved, That the said bequest is accepted by the
University for the uses and purposes therein set forth, and
Be It Further Resolved, That W. K. Pierpont, as Vice-President in charge of
business and finance of The Regents of the University of Michigan be and he is
hereby authorized to accept payment on behalf of said corporation of said bequest
and to execute and deliver to The First National Bank of Chicago, as executor of
the last will and testament of the said Clare Beebe Beck, deceased, the receipt of
the said corporation in satisfaction thereof.
The following resolution was adopted authorizing the establishment
of an account in The Bank of India, Limited:
Resolved, That a current account be opened with The Bank of India, Limited,
Bombay, and/or its branches, in the name of "University of Michigan Grant
No. SCC-40129 for the United States-Indian Comparative Education Project"
and that such account be managed by any one of the following persons, and that
the bank be and is hereby authorized to act upon any instructions given relative
to the transactions of the said account by any one of them. The persons above
referred to are: W. K. Pierpont, Vice-President; G. L. Lee, Jr., Controller; and
Be It Further Resolved, That checks drawn against the said account be signed
by either W. K. Pierpont, Vice-President; G. L. Lee, Jr., Controller; or the
facsimile signature of W. K. Pierpont, specimen of which is included with the
signatures of the above-named individuals in the account-opening form, and
Be It Further Resolved, That WT. K. Pierpont, Vice-President, be and is
hereby authorized to delegate authority to sign checks against the said account
to any staff member of the University connected with the project in India, and
the bank is hereby authorized to act pursuant to such delegation of authority by
the said W. K. Pierpont, Vice-President.

"Highland On recommendation of the Vice-President in charge of business and
Lass:e It": Gift finance, the Regents accepted a gift of the "Highland Lassie II" from
Bruce L. Simpson and Madeleine H. Simpson, his wife, and of cash
required to convert the said vessel to a research vessel from National
Engineering Company in accordance with the proposal for the gift set
out in Mr. Simpson's letter of July 18, 1963, to the Great Lakes
Research Division of the Institute of Science and Technology, and the
letters of his attorney, dated August 13, 1963. They further authorized
Harlan Hatcher, President, and W. K. Pierpont, Vice-President, to
execute and deliver any and all instruments necessary to complete the
said gifts.
Ernst and Ernst: On recommendation of the Vice-President in charge of business and
Audit finance, the Regents approved and placed on file the annual audit of
University records prepared by Ernst and Ernst for the year ended
June 30, 1963 (R.P., 1960-63, p. 896).
Ernst and Ernst: It was voted to employ the accounting firm of Ernst and Ernst as
Auditors for
1963-64 auditors of the University for the fiscal year 1963-64.
Union-League After giving further consideration to the various reports regarding
Merger: Report the Union-League merger (p. 38), the Regents asked the Vice-President
Requested
in charge of business and finance and the Vice-President for Student
Affairs to present a formal statement concerning the merger to them
for their consideration at their meeting in October.
Research Park: After considering a proposal by Detroit investors to build a rental
Rental Ppl facility in the Ann Arbor Research Park at an estimated cost of
$300,000 and to provide 50 per cent of the cost with equity financing,
provided that interests in Ann Arbor would provide the other half of
the cost, it was decided that in the event the details of the proposal
can be worked out to the satisfaction of the financial institutions in