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Caption: Board of Trustees Minutes - 1990 This is a reduced-resolution page image for fast online browsing.
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EXTRACTED TEXT FROM PAGE:
1991] UNIVERSITY OF ILLINOIS 267 $92 000 000 4 700 000 15 000 70 000 235 000 $97 020 000 $85 500 500 6 090 250 1 380 3 065 235 -0000 000 000 000 000 000 000 Sources:* Par Amount of Bonds Construction Fund Earnings Capitalized Interest Earnings Reserve Fund Earnings Accrued Interest Total Sources Uses:* Construction Costs Capitalized Interest Debt Service Reserve Deposit Issuance Costs Underwriters Discount Original Issue Discount Accrued Interest Bond Insurance Total Uses $97 020 000 *Subject to change, and to appropriate downsizing, if the Circle Court project ($12 million) is not included in the issue. With respect to the bonds, they are issuable as fully registered bonds and do not constitute an obligation of the State of Illinois, or of individual members, officers, or agents of the Board of Trustees, but are payable solely by the board from net revenues of the Auxiliary Facilities System and from student tuition and fees, as well as certain other funds pledged to pay principal of, redemption premium, if any, and interest on the bonds. All legal matters incidental to the authorization and issuance of the bonds by the board; the Official Statement; and the Bond Resolution have been approved by Chapman and Cutler, bond counsel, Chicago, Illinois. Certain legal matters will be passed upon by SchifF Hardin & Waite, underwriter's counsel, Chicago, Illinois. T h e president, with the concurrence of appropriate administrative officers, recommends: 1. Approval of an addition of $3.5 million to the project(s) to purchase land for recreation a n d / o r parking at UIC, consistent with the UIC Master Plan. 2. Approval of the Official Statement for the bonds. 1 3. Adoption of the Third Supplemental System Revenue Bond Resolution. 1 4. Approval of the Bond Purchase Aagreement with Morgan Stanley & Co., Inc., as representatives of the purchasers, wherein the purchasers, jointly and severally, agree to purchase from the board and the board agrees to sell to the purchasers all (but not less than all) of the bonds in aggregate original principal amount not exceeding $92 million. T h e price at which the bonds will be purchased from the University by the underwriters will not be less than 98.5 percent of the price at which the bonds will be A copy is filed with the secretary of the board for record and the appropriate officers of the board are hereby authorized and directed to execute the same in the name and on behalf of the board in substantially the form presented to this meeting, or with such changes as may be approved by the officer or officers of the board executing the same, his or their execution thereof to constitute conclusive evidence of the board's approval of all changes from the form thereof presented to this meeting; provided, however, that if any such changes constitute a substantial change in the form thereof presented to this meeting they shall first L>e approved by the Executive Committee of the board, to which authority for such approval is delegated by the board.
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