Omaha daily bee., 1914-10-20
Nebraska
is CAMPUS GUARANTY GOOD?
Who Will Foot Deficit if Extension
Scheme earliest
TEXT OF PECULIAR DOCUMENT
Unless Enforceable, Taxpayers Of
the state VIII Hold the Sack
for Beuefit of Real
Estate Sellers.

LINCOLN, Oct. i9.-(speciaL) -While
the downtown campus boosters keep on
referring to the SPECIALIZED guaranty" fur
nished by interested parties that the pur-
chase OF the additional real estate will
10 kept within the figure Of $4,000, the
people OF Lincoln do not want to talk
about IL because the guaranty threatens
to be a Joker" The campus extensionists
who plead for saving the states money
make It essential to their program that
the guarantors come across II called upon.
for the best estimates of the cost Of
needed ground exclusive of buildings on
them. range all the way up to $4,000.
AS TO whether the guaranty is good for
anything, the document perhaps speaks
best for itself, as witness the following
copy Of It:
Text of the Document.
To the Chancellor and the Board of
Regents: The cost Of campus extension
was the subject of discussion during the
session of the Legislature Just closed, and
the estimates varied widely, from 100000
to $4,000. The undersigned have had an
appraisal made by the most competent
judges of city real estate, and they place
the value Of the ground, exclusive Of the
buildings, at $4,000. IL Is desirable that
the board of regents should be able TO
estimate accurately the cost of campus
extension, in order that II may know how
much Of the special building fund will be
available for buildings after paying cost
OF sites To afford such Information the
undersigned agree to indemnify the board
of regents against cost of campus ex-
tension exceeding $4,000 on the follow
ing conditions:
1. The property to be acquired at a
cost to the board OF regents of $500 200
shall include the six blocks east Of the
present campus bounded by Twelfth
street on the west, II street on the south,
18th street on the east, u street on he
north. and the remainder OF the block
bounded on the south by T street. on the
east by Twelfth street, on the north by
U street, on the west by Eleventh street.
:. The ground may be acquired by the
underwriters in whole or in part at private
sale and conveyed to the board of re-
gents. or the underwriters may request
the board of regents to condemn the
property in whole or in-part, the under
writer's to indemnify cost of the total
tract In excess OF the sum of $4,000
& The underwriters SHAH have the
option of determining which method OF
application shall be pursued
a. The underwriters shall not be re-
quired to convey land in the event they
actually needed for building sites, rea-
Sonable notice of such use to be given
by the board of regents.
o. The underwriters reserve all the
buildings and salvage. the rents and
profits and the right to move the build
tngs and salvage; they shall not be
obliged TO remove buildings and salvage
until the ground Is needed for building
sites.
s. The board OF regents shall select
and designate the building sites. and
they shall be furnished in accordance
with the plans as needed
Z, In the event that the underwriters
fail to acquire and convey land when
ever needed for fuildng sites the board
OF regents shall have the right TO acquire
the same by condemnation.
s. The entire tract shall be acquired
and conveyed to the university within the
period in which the funds arising from
the st-nlill tax are available ~. - 8
9s-Each Underwater shall be liable
only In the amount for which he qualities.
Respectfully submitted. 80
(Signed)