Repository: UIHistories Project: Board of Trustees Minutes - 1962 [PAGE 494]

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j<J61]

UNIVERSITY OF IIXINOIS

491

(Form of Coupon Bond) UNITED STATES OF AMERICA STATE OF ILLINOIS THE BOARD OF TRUSTEES OF T H E UNIVERSITY OF ILLINOIS HOUSING REVENUE BOND OF I960 (Series ) Number..— $1,000 THE BOARD O F TRUSTEES OF THE UNIVERSITY O F ILLINOIS, i body corporate, created and existing under the laws of the State of Illinois, for value received promises to pay to bearer, but only out of the Housing Revenue Bond Fund, as hereinafter provided for, and not otherwise, the principal s„m of ONE THOUSAND DOLLARS ($1,000), on October 1, 19..—, and to pay interest on said sum from the date hereof until paid at the rate of — _ per cent (.- %) per annum, payable April 1, 1961, and semiannually thereafter on the first days of April and October in each year until the principal amount hereof has been fully paid. Interest accruing on this bond on and prior to the maturity date hereof shall be payable on presentation and surrender of the interest coupons hereto attached as they subsequently become due, but no interest shall accrue on this bond after the maturity hereof unless this bond shall be presented for payment and be not then paid. Both principal hereof and interest hereon are hereby made payable in any win or currency which, on the respective dates of payment of such principal and interest, is legal tender for the payment of debts due the United States of America, at The First National Bank of Chicago (hereinafter called "Trustee"), or its successor in trust under the Resolution hereinafter referred to, in the City of Chicago, Illinois, or at the option of the holder, at The Chase Manhattan Bink, in the Borough of Manhattan and City and State of New York. This bond is oneof an authorized series of — Dollars ($.._ ) principal amount of Housing Revenue Bonds of 1960, Series , which, with the I960 Series „ Bonds constitute an issue of Five Million Seven Hundred Fifty Thousand Dollars ($5,750,000), issued or to be issued pursuant to a Bond Resolution of The Board of Trustees of the University of Illinois duly adopted December 17, 1958, as supplemented by First, Second, Third and Fourth Supplemental Resolutions thereto duly adopted June 23, 19-59, October 21, 1959, June 14, I960, and May 17 1961, respectively (said Bond Resolution as so supplemented being herein referred to as the "Resolution"), for the purpose of providing funds for paying the ^ cost of constructing and equipping student and staff housing and related facilities. Said Resolution, among other things, provides for the issuance of additional bonds pursuant thereto in the manner and upon the terms and conditions more fully set forth therein. The bonds of this Series are redeemable prior to maturity as a whole or in part on April 1, 1971, or on any interest payment date thereafter in the inverse order in which they mature at the option of The Board of Trustees of the University of Illinois at par and accrued interest to the date of redemption and a premium as follows: three per cent (3%) of the principal amount thereof if redeemed April 1, 1971 through October I, 1975; two and one-half per cent (2l^%) of the principal amount thereof if redeemed April 1, 1976 through October 1, 1980; two per cent (2%) of the principal amount thereof if redeemed April 1, 1981 through October 1, 1985; one and one-half per cent (1V5%) of the principal amount thereof if redeemed April 1, 1986 through October 1, 1990; one Per cent (1%) of the principal amount thereof if redeemed on April 1, 1991 through October 1, 1995; and without premium if redeemed April 1, 1996 or thereafter, (1960 Series B Bonds Only) The period at the end of the foregoing Paragraph shall be deleted in the i960 Series B Bonds and a semicolon substituted therefor and the followtn 3 proviso added to the end of said paragraph. provided, however, that the bonds of this series maturing in the years 1996 '"rough 2000 shall be redeemable prior to their maturity at the option of The ward of Trustees of the University of Illinois, either in whole or in part, on