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Special Meeting December 16, 1957
From Mr. Leo Peden comes an offer to purchase the East Half of the Southeast Quarter (E1/2SE1/4) of Section Thirteen (13) in Township Ten (10) North, Range Twenty-five (25) West of the 6th P.M. in Dawson County, Nebraska; subject to any existing easement for irrigation lateral, and to established public roads, for the purchase price of $40,000.00. The appraisals made on this farm are as follows:
First Trust Company, No. 1
Basic-$29,560.00 Market-$32,000.00
Johannesen Agency, No. 2
Basic-$31,000.00 Market-$32,000.00
Approve sale of farm to Mr. Leo Peden
It was moved by Regent Foote, seconded by Regent Welsh, motion put to vote and carried, directing the president and corporation secretary be authorized and directed in behalf of the Board of Regents to execute an Agreement to sell the following property in the Frances Sheldon estate to Mr. Leo Peden for the sum of $40,000.00:
East Half of the Southeast Quarter (E1/2SE1/4) of Section Thirteen (13) in Township Ten (10) North, Range Twenty-five (25) West of the 6th P.M. in Dawson County, Nebraska, Subject to any existing easement for irrigation lateral, and to established public roads.
From Mr. Lloyd A. Bacon comes an offer to purchase the Northeast Quarter (Ne1/2) of Section Seventeen (17) in Township Ten (10) North, Range Twenty-four (24) West of the 6th P.M. in Dawson County, Nebraska; subject to right-of-way conveyed to The Thirty mile Canal Company for irrigation lateral and any existing easement not of record, for the purchase price of $78,000.00. Mr. Donaldson reports two independent appraisals made on this farm as follows:
First Trust Company, No. 1
Basic-$61, 320.00 Market-$68,000.00
Johannesen Agency, No. 2
Basic-$51,000.00 Market-$56,000.00
Approve sale of farm to Mr. Lloyd A. Bacon
It was moved by Regent Elliot, seconded by Regent Foote, motion put to vote and carried, directing the president and corporation secretary be authorized and directed in behalf of the Board of Regents to execute an agreement to sell the following property in the Frances Sheldon estate to Mr. Lloyd A. Bacon for the sum of $78,000.00:
Northeast Quarter (NE 1/4) of Section Seventeen (17) in Township Ten (10) North, Range Twenty-four (24) West of the 6th P.M. in Dawson County, Nebraska, subject to right-of-way conveyed to the Thirty Mile Canal Company for irrigation lateral; and any existing easement not of record.
From Mr. Phillip Cler comes an offer to purchase the Northeast Quarter (NE1/4) of Section Thirty-one (31) in Township Eleven (11) North, Range Twenty-five (25) West of the 6th P.M. in Dawson County, Nebraska, subject to right-of-way conveyed to the Thirty-Mile Canal Company for irrigation canal and laterals by deeds recorded in Book 75, Pages 564 and 55, and in Book 90, Page 309 of the Deed Records of Dawson County, Nebraska; and subject to any existing easements and to established public roads, for the purchase price of $64,000.00. Mr. Donaldson reports two independent appraisals made on this farm as follows:
First Trust Company, No. 1
Basic- $56,280.00 Market-$64,000.00
Johannesen Agency, No. 2
Basic-$47,200.00 Market-$60,000.00
It was moved by Regent Thompson, seconded by Regent Elliot, motion put to vote and carried, directing the president and corporation secretary be authorized and directed in behalf of the Board of Regents to execute and agreement to sell
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Special Meeting December 16, 1957
the following property in the Frances Sheldon estate to Mr. Phillip Cler for the sum of $64,000.00:
Approve sale farm to Mr. Phillip Cler
Northeast Quarter (NE1/4) of Section Thirty-one (31) in Township Eleven (11) North, Range Twenty-five (25) West of the 6th P.M. in Dawson County, Nebraska; subject to right-of-way conveyed to the Thirty Mile Canal Company for irrigation canal and laterals by deeds recorded in Book 75, pages 54 and 55, and in Book 90, Page 309 of the Deeds Records of Dawson County, Nebraska; and subject to any existing easements and to established public roads.
From the Business Manager, Mr. Carl A. Donaldson, comes a recommendation that the Thomson Service Agency of Cozad be designated by the Board of Regents to handle the sale of the four remaining farms in the Frances Sheldon estate, it being stated that Mr. Thomson has offered to handle the sale of those properties for a Commission of 2 1/2% of the gross sale price.
Approve Thomson Service Agency, Cozad, to sell four farms in Frances Sheldon Estate.
It was moved by Regent Thompson, seconded by Regent Elliot, motion put to vote and carried, directing that the Thomson Service Agency of Cozad, Nebraska, be employed to handle the sale of the four remaining farms in the Frances Sheldon estate, with the understanding, however, that these sales shall not be on the basis of a public auction and further that the farm adjacent to Kearney, Nebraska, shall not be listed for sale at the present time.
From the Business Manager, Mr. Carl A. Donaldson, comes a recommendation that Mr. Carl E. Faught be employed to act as manager of the remaining farms in the Frances Sheldon estate until such time as these farms are sold.
Mr. Carl E. Faught employed as manager of farms in Frances Sheldon Estate
Mr. Faught has been in charge of the Sheldon properties for the last twenty years and is generally considered to be highly competent in the field. Mr. Faught will handle management of the properties for a commission not to exceed 5% of the gross income.
It was moved by Regent Welsh, seconded by Regent Swanson, motion put to vote and carried, directing that Mr. Carl E. Faught of Lexington, Nebraska, be employed to act as business manager for the farms in the Frances Sheldon estate until such time as these farms sold.
From Mr. Earl Cline, attorney for the Board of Regents, comes a Resolution prepared by Mr. Cline regarding the transfer of the assets of the trust estate of the Frances Sheldon Trust to the Board of Regents of the University of Nebraska and the execution of receipt therefor.
The following Resolution was considered by the Board and unanimously approved:
RESOLUTION
Resolution accepting assets of Frances Sheldon Estate
WHEREAS, Olga N. Sheldon, successor-trustee under the trust created by the Last Will and Testament of Frances Sheldon, deceased, desires to turn over, from time to time, various assets of the trust estate to the Board of Regents of the University of Nebraska, final beneficiary of said trust, and
WHEREAS, an official receipt or official receipts will be required to be executed in behalf of The Board of Regents of the University of Nebraska for filling in the County Court of Lancaster County, Nebraska, to clear the accounts of the trustee and successor-trustee in the estate proceedings in the matter of the estate of Frances Sheldon, deceased;
NOW, THEREFORE, BE IT RESOLVED that Joseph Soshnik, Comptroller of the University of Nebraska, be and hereby is authorized and directed to receive and receipt for in behalf
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Special Meeting December 16, 1957
of The Board of Regents of the University of Nebraska, all assets and property of the trust of Frances Sheldon, deceased, and be further authorized and directed to deliver such executed receipt or receipts to Olga N. Sheldon, successor-trustee, or her attorney, E. A. Cook, Jr.
The foregoing resolution was moved by Regent Thompson, and seconded by Regent Elliot, and unanimously carried.
From Mr. Earl Cline, attorney for the Board of Regents, comes a Resolution prepared by Mr. Cline in references to the sale of Real Estate in the Frances Sheldon estates, investment and re-investment of cash or other assets and the completion or making of government loans on crops produced on the farms held in the Frances Sheldon estate.
It was moved by Regent Swanson, seconded by Regent Elliot, motion put to vote and carried, directing the following Resolution be approved:
RESOLUTION
Resolution re termination of trust of Frances Sheldon Estate
WHEREAS, Frances Sheldon, deceased, left a Last Will and Testament, by the terms of which she devised and bequeathed all of her property in trust to her brother, A. B. Sheldon, as trustee, and further provided that upon the death of her brother, the said trust should terminate, and the proceeds of the trust estate and the accumulated income should be paid to The Board of Regents of the University of Nebraska, to be used by it in constructing and equipping, upon the down-town campus of the University of Nebraska, a gallery for the purpose of housing the collection of painting, sculpture, and other works of art owned by the University of Nebraska and the Nebraska Art Association, and similar collections, and further provided that the gallery should be used and maintained by the University of Nebraska solely for that purpose, and
WHEREAS, A. B. Sheldon, trustee, is now deceased, and Olga N. Sheldon, as successor-trustee, has filed in the County Court of Lancaster County, Nebraska, where said trust estate was pending, a Final Report for A. B. Sheldon as trustee, and
WHEREAS, it is intended by said successor-trustee to transfer, assign and pay over to The Board of Regents of the Board and Regents of the University of Nebraska, property and assets of said trust as soon as the same may be conveniently and properly accomplishes, and
WHEREAS, among the assets of said trust are certain places of real estate and invest and re-invest cash or other assets recieved by the Board of Regents from said trust;
Board authorizes committee to act for Board
NOW, THEREFORE, BE IT RESOLVED that the President of The Board of Regents of the University of Nebraska be and hereby is authorized and empowered to appoint a Committee of three (3) members, which shall have power to act in behalf of The Board of Regents of the University of Nebraska with respect to:
1. Negotiating and entering into agreements for the sale of real estate, which is an asset of the trust estate of Frances Sheldon, deceased.
2. Invest and re-invest cash or other assets of said trust estate recieved by The Board of Regents of the University of Nebraska from Olga N. Sheldon, successor-trustee of said estate.
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3. Complete or make government loans on any corn or other crops on any of the real estate of said trust and to sell any corn or other crops which does not qualify for government loan.
Committee appointed
President Greenberg appointed the following committee
Regent C. E. Swanson, Chairman Regent J. L. Welsh Regent B. N. Greenberg
From Mr. Earl Cline, attorney for the Board of Regents comes information that he is advised by the Nebraska Central Building & Loan Association that the deed signed by Mr. Robert Devoe as vice president of the Board of Regents for the sale of Lot 10, Block 7, Trester's Addition to Lincoln, sale approved by The Board of Regents in 1945, authorized by the president of the Board but not the vice president to sign. Request is made therefore by the Nebraska Central Building & Loan Association that a resolution be authorized by the Board of Regents to specifically direct that the vice president of the Board of Regents be authorized to sign the deed.
Approve signature of Robert Devoe on Deed
It was moved by Regent Thompson, seconded by Regent Swanson, motion put to vote and unanimously carried, directing the following resolution be approved:
RESOLUTION
"RESOLVED that the action of Robert W. Devoe, Vice President, in executing and delivering a deed on behalf of The Board of Regents of the University of Nebraska to William J. Smith and Frances Smith, husband and wife, as joint tenants, dated May 25, 1945, and recorded June 2, 1945, in Book 358 of Deeds, at Page 106, conveying Lot Ten (10), Block Seven (7), Trester's Addition to Lincoln, Lancaster County, Nebraska, for a consideration of Two Thousand ($2000) Dollars, be and the same hereby is in all respects approved, ratified and confirmed, and accepted as the official act of the Board of Regents of the University of Nebraska."
Nebr. Assn. of Junior Colleges urges acceptance of credit for certain courses transfered to College of Agr.
From Regent C. Y. Thompson comes a letter recived by Mr. C. Y. Thompson from Mr. Otto G. Ruff, Chairman of a special committee on Agriculture of the Nebraska Association of Junior Colleges in reference to the policy followed by the College of Agriculture in accepting credit for basic agriculture courses earned by students in Nebraska Junior Colleges who wish to transfer such credit to the College of Agriculture. It was stated that Chancellor Hardin had this matter under consideration and would make furher report to the Board of Regents.
There being no futher business, the Board adjounred .
B.N Greenberg (signature) President
Attest: John K Selleck (signature) Corporation Secretary
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Regular Meeting Janurary 11, 1958
Lincoln, Nebraska Januarary 11, 1958
The Board of Regents of the University of Nebraska met on this day for the regular annual meeting at 10:00 A.M. in the Administration Building on the City Campus in Lincoln, as required by the By-Laws.
Regents present: B. N. Greenberg C. Y. Thompson J. L. Welsh C. E. Swanson Frank O. Foote J. G. Elliott
University officials present: Messrs. Clifford M. Hardin, Chancellor A. C. Breckenbridge, Dean of Faculties John K. Selleck, Corporation Secretary Joseph Soshnik, Asst. Corp. Secretary Carl A. Donaldson, Business Manager
Minutes Approved
The minutes of the proceedings of the Board at its last meeting held December 16, 1957, copy of the same having been transmitted to the several members of the Board under its order of October 1, 1926, were approved.
Officers elected
A motion introduced by Regent Elliot, seconded by Regent Welsh, put to vote and carried unanimously, electing to the office of President of the Board for the ensuing year, Regent C. Y. Thompson.
Regent Thompson took the chair as presiding officer.
A motion introduced by Regent Swanson, seconded by Regent Elliot, put to vote and carried unanimously, electing to the office of Vice President of the Board for the ensuing year, Regent J. L. Welsh.
Elect Regents Representative to University Foundation
A motion introduced byREgent Welsh, seconded by Regent Greenberg, put to vote and carried unanimously, electing Regent C. E. Swanson to serve as Regents Representative on the Board of Trustees of the University of Nebraska Foundation for the ensuing year.
Elect trustees of U. of Nebr. Dormitory Corporation
A motion introduced by Regent Greenberg , seconded by Regent Welsh, put to vote and carried unanimously, electing the following Regents Representatives to serves as trustees of the University of Nebraska Dormitory Corporation for the ensuing year: Regents Thompson, Greenberg, Swanson and Elliot.
Standing Committee
President Thompson appointed the following standing committees to serve for the ensuing year:
Executive: Thompson, Greenberg, Elliot Finance: Swanson, Welsh, Foote Property: Regents Welsh, Thompson, Swanson
From the Chancellor's office comes reports of resignations, leave of absence requests, new appointments, ad interim to the University staff, adjustments in work and salary, funds being available from former apportionment by the Board, deaths and retirement, the following action is taken.
Resignations Approved
It was moved by Regent Greenberg, seconded by Regent Swanson, motion put to vote and carried, accepting recommendation of the Chancellor's office that the following resignations be approved.
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