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Caption: Board of Trustees Minutes - 1962
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1462 BOARD OF TRUSTEES [May 24 Fifth Supplemental Housing Revenue Bond Resolution A RESOLUTION CREATING AND AUTHORIZING THE ISSUE, AUTHENTICATION AND DELIVERY OF $2,100,000 HOUSING REVENUE BONDS OF 1962, SERIES A, AND FURTHER SUPPLEMENTING A RESOLUTION DULY ADOPTED BY T H E BOARD OF TRUSTEES OF THE UNIVERSITY OF ILLINOIS ON DECEMBER 17, 1958. WHEREAS, The Board of Trustees of the University of Illinois, on due consideration and investigation, does now find and determine that it is advisable and necessary and in the interests of the University of Illinois and the welfare of its students and faculty to construct and equip additional buildings and related facilities for the purpose of housing its students and staff; and WHEREAS, in order to provide such facilities it is advantageous to the University and necessary that the University borrow money and issue and sell revenue bonds under the provisions of paragraphs 48.1 through 48.7 of Chapter 144 of the Illinois Revised Statutes 1961, and all laws amendatory thereof and supplemental thereto; and WHEREAS, The Board of Trustees of the University of Illinois on December 17, 1958, did duly adopt a resolution (herein sometimes called "Original Resolution") providing for the issuance of revenue bonds; and WHEREAS, T h e Board of Trustees of the University of Illinois on June 23, 1959, October 21, 1959, June 14, 1960 and May 17, 1961, respectively, duly adopted First, Second, Third and Fourth Supplemental Resolutions for the purpose of supplementing the Original Resolution and providing for the issuance of additional revenue bonds thereunder, and WHEREAS, there are now issued and outstanding under the Original Resolution as supplemented by the First, Second, Third and Fourth Supplemental Resolutions thereto, $22,350,000 aggregate principal amount of Bonds designated "The Board of Trustees of the University of Illinois Housing Revenue Bonds" and having the further designations of year and series in the respective principal amounts as follows: Year and Series 1958, Series A 1958, Series B 1959, Series A 1959, Series B 1959, Series C 1959, Series D 1960, Series A 1960, Series B I960, Series C Principal Amount $1,590,000 1,495,000 100,000 1,515,000 3,450,000 3,450,000 5,000,000 5,000,000 750,000 WHEREAS, The Board of Trustees of the University of Illinois now desires to create and to authorize the issue, authentication and delivery of an additional issue of Bonds under and in accordance with the Resolution as supplemented by this Fifth Supplemental Resolution thereto which additional Bonds are to be limited to the aggregate principal amount of $2,100,000 at any one time outstanding, which shall be known as "The Board of Trustees of the University of Illinois Housing Revenue Bonds of 1962, Series A" (hereinafter called "1962 Series A Bonds"). Now, Therefore, Be It Resolved by The Board of Trustees of the University of Illinois: ARTICLE ONE SUPPLEMENTARY PROVISIONS RELATING TO INCOME AND THE APPLICATION THEREOF SECTION 1.1. Pledge of Revenues. The pledge of the revenues (including the revenues to be derived from the operation of Project F hereinafter mentioned) contained in Section 5.01 of the Original Resolution and Section 1.1 of each of the First, Second, Third and Fourth Supplemental Resolutions is hereby ratified and confirmed and all revenues to be derived from the operation of Project F are hereby specifically pledged for the purposes mentioned in said Section 5,01 of the Original Resolution.
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