Pages That Need Review
Volume 08: September 10, 1962–May 25, 1964
259
The successful bidder will be furnished, without cost, then approving legal opinion of Mitchell, Pershing, Shetterly & Mitchell, of New York City.
A copy of the Official Notice of Sale and Statement of Essential Facts for this issue may be obtained from the undersigned, A.H. Shepard, Jr. , Business Officer and Treasurer, Board of Trustees of The University of North Carolina, Consolidated Office, Chapel Hill, North Carolina.
BOARD OF TRUSTEES OF THE UNIVERSITY OF NORTH CAROLINA
By A. H. SHEPARD, JR. Business Officer and Treasurer
The Official Notice of Sale mentioned in the Notice of Sale set forth above shall be substantially in the following form:
OFFICIAL NOTICE OF SALE $1,800,000 THE UNIVERSITY OF NORTH CAROLINA AT GREENSBORO DORMITORY SYSTEM REVENUE BONDS OF 1962, SERIES B of the BOARD OF TRUSTEES OF THE UNIVERSITY OF NORTH CAROLINA
Sealed bids will be received by the Board of Trustees of The University of North Carolina, acting by its Executive Committee, at the Governor's Office, State Capitol Building, Raleigh, North Carolina, until 10:30 o'clock A. M. , Eastern Standard Time, September 9, 1963, at which time and place all bids will be publicly opened and read, for the purchase at not less than par of all or any of the hereinafter designated blocks of $1,800,000 The University of North Carolina at Greensboro Dormitory System Revenue Bonds of 1962, Series B, of the Board of Trustees of The University of North Carolina, dated July 1, 1962, and maturing annually, in numerical order, lowest numbers first, on July 1, in the years and in the amounts, respectively, as follows:
| Year of Maturity 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977
Principal Amount
Year of Maturity
Pr incip al Amount
$ 23,000 24,000 25,000 26,000 27,000 28, 000 29,000 30,000 31,000 32,000 33,000 34,000 36,000
1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996
$ 46,000 47,000 48,000 50,000 52,000 54, 000 55, 000 57,000 59,000 62,000 64, 000 66,000 68, 000
Year of Maturity
Principal Amount
Year of Maturity
Principal Amount
1978 1979 1980 1981 1982 1983
$ 37,000 38, 000 39,000 41,000 42,000 44, 000
1997 1998 1999 2000 2001 2002
$ 71,000 73, 000 75, 000 77,000 78, 000 79,000
Denomination $1, 000; coupon bonds registrable as to principal alone; principal of the bonds and semi-annual interest (January 1 and July l) payable at the Wachovia Bank and Trust Company, in the City of Raleigh, North Carolina, or at the principal office of First National City Bank, in the Borough of Manhattan, City and State of New York, at the option of the holder or registered owner. Interest at such rate or rates, not exceeding five per centum (5%) per annum and averaging not greater than the maximum acceptable rate of three and one-half per centum (3 1/2%) per annum, as are specified in the successful bid. At the option of the purchasers, a single non-negotiable temporary bond in the amount of each purchase and registered as to principal and interest will be issued, exchangeable within 90 days after notice for definitive negotiable coupon bonds in the denomination of $1,000.
The bonds are part of an issue of $2,625,000 bonds of the Board, authorized by a resolution adopted by the Board on May 28, 1962, as amended by a resolution adopted by the Board on February 25, 1963 and by a resolution adopted by the Executive Committee of the Board on July 8, 1963, consisting of $825,000 The University of North Carolina at Greensboro Dormitory System Revenue Bonds of 1962, Series A, bearing interest at the rate of two and seven-eighths per centum (2 7/8%) per annum and maturing serially on July 1 in the years 1964 through 1996, and $1,800,000 The University of North Carolina at Greensboro Dormitory System Revenue Bonds of 1962, Series B, issued for the combined purpose of refunding Woman's College of the University of North Carolina Dormitory System Revenue Bond of 1958, No. T-1, now outstanding in the principal amount of $825,000, and, with other available funds, paying the cost of a new dormitory, with necessary appurtenant facilities, to house approximately 640 women students and including four apartments, at The University of North Carolina at Greensboro (prior to July 1, 1963 known and designated as the Woman's College of the University of North Carolina).
The bonds of said issue of $2,625,000 will be special obligations of the Board of Trustees of The University of North Carolina, secured by:
267
State Highway Commission of the requested right-of-way, subject to the laws, regulations and procedures governing the allocations of real property between agencies of the State of North Carolina.
On motion of Mr. Hill, seconded by Mr. Umstead, the foregoing resolution was unanimously adopted.
"Point-of-reference" salary scales for 1963.
President Friday also gave the following report on "Point-of-Reference" academic salary scales established by agreement with the State Department of Administration, and they were unanimously approved:
REPORT ON "POINT OF REFERENCE" ACADEMIC SALARY SCALES ESTABLISHED BY AGREEMENT WITH THE STATE DEPARTMENT OF ADMINISTRATION
The appropriation to The University of North Carolina for salary increases for faculty and staff exempt from the State Personnel Act for the biennium 1963-65 is $6,071,748.
The distribution of these funds is discretionary, subject to review by the Department of Administration.
To facilitate this administrative review, we have in the past agreed with the Department of Administration on a "point of reference" salary scale by academic rank. This scale applies only to salaries paid from appropriated funds and applies only to academic salaries of personnel on a 9-month service basis. It does not apply to the Division of Health Affairs.
Salaries from appropriated funds that exceed the "point of reference" maxima in the agreed scales require an explanation, which is submitted when the salaries are submitted to the Department of Administration. Our past experience with the Department, under this arrangement, has been happy.
The scales agreed upon for the biennium 1963-65 are:
Minimum Maximum
Present $ 7,500 12,700
1963-64 $ 7,500 14,800
1964-65 $ 8, 000 15, 700
Assoc. Professor - 9 months Minimum Maximum
6, 500 10,500
6, 500 12,000
7, 000 12,700
Ass't. Professor - 9 months
Minimum Maximum
5, 500 9, 000
5, 500 9, 900
6, 000 10,300
Instructor - 9 months
Minimum Maximum
4, 500 7, 700
4, 500 8, 400
5, 000 8, 800
Dean - 12 months
Minimum Maximum
10,000 16,500
10,000 18,500
10,500 20,500
Director - 12 months
Minimum Maximum
9, 000 15, 400
9, 000 17,800
9, 500 18, 600
Professor - 9 months
Increase in Dormitory Rents at State College
On motion made and duly seconded, the following resolution was unanimously adopted:
291 Year of Maturity1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979
Principal Amount $ 15,000 16,000 16,000 17,000 17,000 18,000 18,000 19,000 19,000 20,000 20,000 21, 000 21,000 22,000 23,000 23,000
Numbers (all inclusive) 1 16 32 48 65 82 100 118 137 156 176 196 217 238 260 283
to to to to to to to to to to to to to to to to
15 31 47 64 81 99 117 136 155 175 195 216 237 259 282 305
Year of Maturity 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996
Principal Amount $ 25, 000 26,000 26,000 27,000 28, 000 29,000 29,000 30,000 31,000 32,000 33, 000 34, 000 35, 000 36,000 37,000 38, 000
Numbers (all inclusive) 330 35 5 381 407 434 462 491 420 550 581 613 646 680 715 751 788
354 380 406 433 461 490 519 549 580 612 645 679 714 750 787 825
to to to to to to to to to to to to to to to to
The University of North Carolina at Greensboro Dormitory System Revenue Bonds of 1962, Series B
Year of Maturity 1993 1994 1995 1996 1997
Pr incip al Amount
Numbers (all inclusive)
$ 62,000 64, 000 66,000 68, 000 71,000
1, 088 1, 150 1,214 1, 280 1, 348
to to to to to
1, 149 1,213 1,279 1, 347 1,418
Year of Maturity
Principal Amount
1998 1999 2000 2001 2002
$ 73, 000 75, 000 77,000 78, 000 79,000
N umb e r s (all inclusive) 1, 419 1,492 1, 567 1, 644 1,722
to to to to to
1,491 1, 566 1, 643 1, 721 1, 800
and to pay solely from said special fund, interest from the date hereof on the unpaid portion of such principal sum representing said Series A bonds at the rate of 2 7/8% per annum and on the unpaid portion of such principal sum representing said Series B bonds at the rate of 3 1/2% per annum, such interest until the final maturity of this bond being payable semi-annually on the 1st days of January and July in each year. Both the principal of and the interest on this bond are payable in any coin or currency which on the respective dates of payment thereof is legal tender for the payment of debts due the United States of America.
During the time the Payee is the registered owner of this bond payment of the installments of principal and interest then due and payable shall be made at the Federal Reserve Bank of Richmond, Richmond, Virginia, or such other fiscal agent as the Payee shall designate (said Federal Reserve Bank or other fiscal agent being herein called the "Payee's Fiscal Agent"), and. during any such time as the Alternate Payee shall be the registered owner of this bond of the installments of principal and interest then due and payable shall be made at the Wachovia Bank and Trust Company, in the City of Raleigh, North Carolina, or, at the option of the Alternate Payee, at First National City Bank, in the Borough of Manhattan, City and State of New York. Payments of principal and interest, including
298
(As provided in the within bond, notice of any assignment thereof shall be given by the assignor by registered mail to the Treasurer of the Board as Bond Registrar, such notice to be in such form as shall be satisfactory to the Bond Registrar, and upon receipt of such notice the bond shall be registered as to both principal and interest on the registration books in the name of the assignee named above)
PAYMENT RECORD
Principal Payment (Enter Amounts)
Due Date January 1, 1963
$
Pr incip al B alance Due
Interest Payment
$
$
Name of Paying Agent, authorized Official and Date Paid Title
July 1, 1963 (Enter due dates of principal and interest)
(80 due dates - leave one-half inch space between due dates, etc. for manual interlining, if necessary; also half a page at end for any explanation that might be required)
(To be inserted under the headings "Interest Paid" and "Date Paid" opposite January 1, 1963 and July 1, 1963: "Obligor is not liable for interest due __________, 1963, which interest date expired prior to delivery of this bond.")
SCHEDULE "A" (this is to be a separate sheet)
Principal installments paid in advance of maturity date
Principal Due Date Amount
Payment
Balance
Date Paid
Name of Paying Agent Authorized Official and Title
University Report
President Friday made a brief oral report on administrative matters:
Speakers Bill
This matter was discussed at some length. No action was taken.
Educational Television
Mr. Weaver reported briefly on the work of the Governor's Commission on Educational Television. He stated that current plans are to erect two booster towers - one in the Eastern part of the State and one on Mt. Mitchell in the West. He also reported that the Commission has given to the North Carolina Department of Public Instruction priority for use of all "in-school" hours for educational TV telecasts.
327
George Allen Coltrane, as Assistant Director and Assistant Professor, Institute of Government, with salary of $8,500, beginning November 15, 1963. Born, High Point, North Carolina 1943. Married. Three children. Education: A.B. 1956, and LL.B. 1961, Duke University. Experience: Tax Accountant 1961-, Arthur Anderson and Company, Atlanta, Georgia. Interviewed by:, The Director of the Institute of Government and his staff.
Promotions
Ramon Barton Jenkins, Assistant Professor, School of Medicine, is recommended for promotion from Instructor to Assistant Professor, without increase in salary, beginning November 1, 1963.
Increases
George Nicholson, Chairman and Professor, Department of Statistics, is recommended for an increase in salary from $14,500 to $16,000 beginning as of July 1, 1963.
Maurice Lee, Professor and Dean, School of Business Administration, is recommended for an increase in salary from $22,000 to $23,500, beginning October 1, 1963. The $1,500 increase will come from Trust Funds.
Arnold Perry, Professor and Dean, School of Education, is recommended for an increase in salary from $17,500 to $18,000 beginning June 1, 1964. The $500 increase will come from Trust Funds.
Increases in Division of Health Affairs
Name Fred W. Ellis
Rank Assoc. Prof. & Acting Chrmn.
Present Salary
Effective Date
New Salary
Remarks
$17,333
10/1/63
$19,733
Promotion to Acting Chrmn.
T. R. Oldenburg
Asst. Prof.
15, 400
11/1/63
17,131
Change of duty
Harvey L. Smith
Prof. & Dir. Social Research 16,900
9/1/63
20,000
Change of duty
12,000
10/1/63
16,000
Increase appt. 9 to 12 months
15, 000
10/1/63
17,400
Increase in Clin, practice
18,000
9/1/63
18, 600
No salary increase 7/1/63
N. Underwood
Professor
Donald W. Warr en Asst. Prof.
John J. Wright
Prof. & IDir. Cont. Education
Leaves of Absence
Harold Hotelling, Kenan Professor, Department of Statistics, is recommended for a leave of absence, without salary, for one year beginning February 1, 1964, in order to help in the development of a statistics program at the University of Buenos Aires.
Frederick N. Cleveland, Chairman and Professor, Department of Political Science, is recommended for a leave of absence without salary for one year beginning February 1, 1964, to accept an appointment to the senior staff of Brookings Institution to undertake development of public administration programs for Latin America.
James B. Meriwether, Associate Professor, Department of English, is recommended for a leave of absence with partial salary of $1,000 September 1, 1963 - January 31, 1964, in order to do research in England.
339
Retirement or Continuation of Academic Personnel, effective July 1, 1964. Name
Rank
School of Department
Retiring
#
Edith E. Averitt* Roger E. Sturdevant R. H. Wettach
Librarian Professor Professor
Library Dentistry School of Law
* Retiring March 1, 1964. Continuation of service on limited basis for one year at a time to age 7 1 or more for those who will have reached at least 70 by July 1, 1964 Alfred Brauer E. L. Mackie F. B. McCall H. D. Meyer
Kenan Professor Professor Professor Professor
Mathematics Mathematics School of Law Sociology & Anthropology
Continuation of service for one year at a time for those who will have or have reached at least 65 by July 1, 1964 N. B. Adams Raymond W. Adams Albert Coates O. K. Cornwell John N. Coucn Dudley J. Cowden Willard J. Graham Fletcher M. Green J. Minor Gwyn Glen Haydon Michael A. Hill, Jr. Helen B. Hogan Harold Hotelling A. C. Howell J. C. Kuntsmann J. B. Linker** Gerald R. MacCarthy W. D. MacMillan D. A. MacPherson
Professor Professor Professor Prof. & Chairman Kenan Professor Professor Professor Kenan Professor Professor Kenan Prof. & Chrmn Professor Librarian Kenan Professor Professor Prof. & Chrmn. Professor Professor Kenan Professor Prof. & Chrmn
W. A. Olsen R. B. Sharpe F. C. Shepard C. P. Spruill Thelma G. Thurstone Rupert B. Vance P. W. W ager F. R. Weedon Frances Yocom
Professor Professor Advisor Professor Professor Kenan Professor Professor Visiting Professor Librarian
Romance Languages English School of Law Physical Education Botany Business Administration Business Administration History Education Music Mathematics Library Statistics English Germanic Languages Mathematics Geology English Bacteriology, School of Medicine English English General College Business Administration Education Sociology & Anthropology Political Science Medicine Library
**Dr. Linker will retire from full-time service effective July 1, 1964, and it is recommended that he be permitted to continue on a part-time basis for one additional year at $1200 per annum Retirement from Deanship Norvel N. Luxon retires as Dean of the School of Journalism as of July 1, 1964*! He will remain as Professor. Retirement or continuation of non-academic personnel, effective July 1, 1964.
#
Retiring Ethel R. L. Maud B. L.
D. Clamp Hutchins W. Price Smith
Dormitory Hostess Grounds Maint.Supt. Clerk 1 Power Lineman
Dean of Woman Athletic Association Records & Registration Utilities
340 Con.tinua.tion of service for one year at a. time for those who have, or will have reached at least 65 by July 1, 1964 Director Food Server 1 C arp enter Library Assistant Bookeeping Mac. Opr. 1 Social Service Worker Nurse Supervisor 11 Maintenance Man 1 General Utility Man Laborer Clerk 11 Laborer Locker Room Attendant C arpenter C abinetmaker
J. S. Bennett Nellie E. Croker Thomas F. Davis Myrtle Harrell Edith M. Humphreys Viola C . Jacobs Mary B. Jones Horice H. Maynor W. W. Nalls Hedrick F. Nevill Ruth D. Patterson Adolphus Riggsbee Irene A. Scroggs Roy Lee Williams JohnW. Wright
Operations Lenoir Hall Physical Plant Library Laundry Hospital Hospital Woollen Gym Woollen Gym Victory Village Dentistry Physical Plant Physical Ed. Physical Plant Hospital
DIVISION OF HEALTH AFFAIRS, SALARY CHANGES, JANUARY, 1964
Rank
N ame
Present Total Salary
New Salary State
Other
Total
$ 24, 000
13,500
12,000 25, 000 motion to acting '
18, 700 20,000 18,000 22,300 24, 080 13,100 29,600 22,050 18, 420 17,500 14, 600
5, 500 10,000 9, 100 16,000 17,000 9, 500 17,500 11,600 10,500 17,500 12,500
17,900 7, 400 10,500 17,410 2, 428 14,982 11,400 26,400 15, 000 18, 7 00 inc 18, 700 School of Medicine 18,000 7, 778 25, 778 5, 900 23,900 18, 000 18, 100 18, 100 1870T70 9, 500 27,500 16,200 1, 200 15, 000 18,190 21,290 3, 100 19,872 19,872
School of Medicine Ewing, John A.
Assoc. Prof.
School of Dentistry Barton, Roger E. Barker, Bennie D. Cummings, Paul Hunter, Grover C. Lindahl, Roy L. Lupton, Cecil R. Miska, Monte G. Sockwell, C. L. Strickland, W. D. Sturdevant, Clifford Sturdevant, Roger
Assoc. Prof Assoc. Prof. Assoc. Prof. Prof. & Chrm. Prof. & Chrm. Clin. Asst. Prof.. P*rof. & Chrmn. Assoc. Prof. Assoc. Prof. Prof. & Chrm. Professor
13,800 8, 976 9, 100 3, 600 7, 800 6, 000 17,500 11,600 10,500 4, 200 9, 000
19,300 18,976 18,200 19,600 24, 800 15, 500 35, 000 23,200 21,000 21,700 21,500
School of Public Health Boatman, R. H. Bryan, A. Hughes Cameron, C. M. Chipman, S. S.
Prof.& Chrmn. Prof. & Chrmn. Professor Prof. & Chrmn.
16,500 17,200 25, 600 19,600
Cassell, JohnC. Coker, R. E. Jr. Fulton, John T. Larsh, J. E. Jr. Morgan, Lucy S. Tyroler, H. A. Wright, John T.
Prof. Chrmn Prof. & Chrmn Professor Prof. & Chrmn Professor Asso. Prof. Prof. & Dir.
25, 100 22,200 17,500 25,500 15, 000 21,100 18, 600
Extension of Contract James Benton Hickey, Head football coach, the extension of his present contract, which expires on December 31, 1964, to December 31, 1967. Leaves of Absence Albert Coates, Professor, School of Law, is recommended for a leave with salary for Fall and Spring semester 1964. Werner P. Friederich, Kenan Professor, Dept, of Germanic Languages, is recommended for a leave of absence for Spring semester 1964, with stipend of $387 5 from Kenan funds. He will teach at Canberra, Australia under a Fulbright Grant.
Enrollment Figures and Capital Improvement Needs
President Friday presented average enrollment figures and Capital Improvement needs for each of the institutions as follows:
Total Average Enrollment University at Chapel Hill North Carolina State University at Greensboro
1963-64
1964-65
1965-66
1966-67
12,201 8, 988 3, 566
12,754 10,048 3, 750
13, 614 11,062 4, 219
14,550 11,874 4, 606
Capital Improvement Needs for 1965-67
University at Chapel Hill
Division of Academic Affairs
a. New East (Regional and City Planning and Geography) Air Conditioning, Rewiring and Renovations
b. Wilson Hall (Zoology) Air Conditioning, Rewiring and Renovations
c. Law School Building, 91,000 square feet
d. Wilson Library Addition, 60,000 square feet
e. Dormitory Spaces for 1000 Students
f. Bingham Hall (English) Addition
g. Dramatic Art Building
h. Intra-mural and Physical Education Facilities (Tennis courts and recreational fields)
i. Art Department Building, 60,000 square feet
j. Classroom Buildings Air Conditioning, Manning, Bingham, Murphey and Saunders
k. Classroom Buildings Air Conditioning Carroll, Gardner and Hanes
l. Acquisition of Remainder of Baity Property
m. Storm and Sanitary Sewer Lines, Access Roads, Walks, Reclamation of Land
n. Quail Roost Additions, Renovations and Furnishings
o. Institute of Fisheries
p. Venable Hall (Chemistry) Laboratory Renovations
q. Hill Hall (Music) Old Part, Renovations and Air Conditioning
r. Knapp Building (institute of Government) Addition
Division of Health Affairs
a. Basic Education Facilities Building, 245,300 square feet
b. School of Dentistry Education Building, 111,800 square feet
c. School of Nursing Building, 68,000 square feet
d. Memorial Hospital and Clinic Building Renovations (basement, first and second floors, 40,000 square feet)
e. MacNider Hall (School of Medicine) Rewiring
358
Section 1. Amount, Purchase Price, and Purpose. Subject to the Terms and Conditions (Form CFA-520 dated 4-63), attached hereto and made a part hereof as Exhibit A, and the provisions of this Agreement, the Borrower will sell and the Government, acting by and through the Housing and Home Finance Administrator (herein called the "Administrator"), will purchase $2,544,000 aggregate principal amount of the obligations of the Borrower described below (herein called the "Bonds"), or such lessor amount thereof as the Administrator estimates will be required, together with the Borrower's funds provided from other sources, to pay the development cost of the Project (estimated to be $2,544,000), hereinafter described, at a price equal to the principal amount thereof plus accrued interest, the proceeds of the sale of such Bonds to be used solely for the development of the said Project; and, further, the Borrower will offer for sale or exchange, as hereinafter provided, $4,280,000 of its obligations described below or such lessor amount thereof as may be necessary to retire or be exchanged for all its outstanding University of North Carolina Dormitory Revenue Bonds - Series 1956, and University of North Carolina Dormitory Revenue Bonds of 1960, Series A, B and C.
Section 2. Description of Bonds. The Bonds which the Borrower agrees to sell and the Government agrees to purchase are described as follows:
(a) Designation: University of North Carolina Dormitory System Revenue Bonds of 1963, Series A, C, D, E and F.
(b) Date: November 1, 1963.
(c) Principal Amount: $6,724,000 (consisting of Series A in the Amount of $1,647,000, Series C in the amount of $533,000, Series D in the amount of $1,000,000 and Series E in the amount of $1,000,000 and Series F in the amount of $2,544,000).
(d) Denomination: $1,000.
(e) Type: Negotiable, serial coupon Bonds, payable to bearer.
(f) Interest Rate: 2-3/4% per annum, payable semi -annually on May 1 and November 1 in each year, first interest payable May 1, 1964.
(g): Maturities: November 1, in years and amounts as follows:
SERIES A BONDS Year 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978
Amo unt
Year
Amount
$ 35, 000 36,000 37,000 38, 000 39,000 40,000 41,000 42,000 43,000 44,000 46,000 47,000 48, 000 49,000 51,000
$ 52,000 1979 1980 54,000 1981 55, 000 1982 57,000 1983 58,000 1984 60,000 1985 62,000 1986 63,000 1987 65, 000 1988 67,000 1989 69,000 1990 71,000 73, 000 1991 1992 76,000 1993 77,000 1994 52,000
(h) Numbers: 1-A to 1,647-A, inclusive in order of maturity.
(i) Security: Special obligation of the Borrower, secured by and payable from a first lien on and pledge of the revenues of the "Dormitory System" to be established in accordance with provisions of Special Condition (b) and in the manner and for the purpose set out in the other Special Conditions.