The Government of the Student Body will meet Wednesday to discuss the Memorial Union Agreement and ratify a contract.

On Sept. 27 the Memorial Union Corporation Board of Directors unanimously voted to accept an agreement between the corporation, ISU students, the Iowa Board of Regents and Iowa State University, to turn over ownership of the land and building that makes the MU.

GSB President T.J. Schneider signed a contract that would turn the Memorial Union over to the university.

“Many students think the union already belongs to the university,” Schneider said.

The building and land are currently owned by the Memorial Union Corporation, a private, non-profit organization.

According to the original contract, the university would assume ownership of the MU when the corporation was out of debt.

Schneider said the MU, which just celebrated its 74th birthday, is about $4.7 million in debt right now.

That debt is mostly from the last major renovation in 1995. He said under the agreement, the university will assume this debt.

Schneider said at the time the union was built, neither the university nor the Board of Regents was able to pay for its construction.

Since the two could not take out loans, a private group of students bonded on their behalf.

Schneider said students will not see changes within the MU right away.

A $15 to $20 million renovation is being planned for the union.

Through this renovation, the building would follow the Americans with Disabilities Act more closely. Also, some meeting and hotel rooms would be upgraded.

“The university said they would make the union a funding priority,” Schneider said. He said with this the renovation could cost $25 million.

Joe Darr, GSB vice president, said he will be announcing the act for the Fall Event Series at Wednesday’s meeting. He said he wants to make the announcement an exciting event.

He said this event should be a big deal for students.

Darr said the comedian chosen is “really, really funny.”

“Hopefully we’ll soon have some information on the Web site,” Darr said. He said he would also like to put some clips of other performances there, so students can see what type of comedy it will be.

Oct. 12 is the Fall Gala, which will be informal, a change from prior years.

Schneider said this is because the homecoming football game vs. Texas Tech is the same night as the dance.

Programs

* Chief of Staff Rick Cordaro will talk about the Big 12 Student Government Conference.

Special Orders

* A bill to ratify the Memorial Union Agreement. By Luken, Alliger and others.

General Orders

* Vote on a bill to give the ISU Paintball Club more than $11,000 for a field in Ames.

* Vote on a bill to remove Chapter 8 from the Bylaws and renumber Chapter 16 as Chapter 8.

New Business

* A bill to seat Sam Umbach as Election Commissioner. By Luken and Leege.

* A bill to restructure the position of Attorney General. By Kline, Leege and Cordaro.