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Caption: Board of Trustees Minutes - 1964 This is a reduced-resolution page image for fast online browsing.
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EXTRACTED TEXT FROM PAGE:
222 BOARD OF TRUSTEES [October 17 SECTION 2.3. Payment of Principal and Interest. Both the principal of and the interest on the 1962 Series B Bonds and the 1962 Series C Bonds shall be payable in any coin or currency which, on the respective date 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, or its successor, in the City of Chicago, Illinois, or, at the option of holders at The Chase Manhattan Bank, or its successor, in the Borough of Manhattan and City and State of New York. SECTION 2.4. Form of Bonds. The definitive coupon Bonds of 1962 Series B and 1962 Series C, the interest coupons to be attached thereto, and the form of fully registered Bonds without coupons o£ 1962 Series B and 1962 Series C, shall be in substantially the following forms with appropriate insertions, omissions and variations to evidence differences in series, number, interest rate, maturity and like matters: ( F o r m of Coupon Bond) UNITED STATES OF AMERICA STATE OF ILLINOIS T H E BOARD OF T R U S T E E S O F T H E U N I V E R S I T Y O F I L L I N O I S H O U S I N G R E V E N U E B O N D O F 1962 (Series ) Number $1,000 T H E BOARD OF T R U S T E E S OF T H E UNIVERSITY OF ILLINOIS, a 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 sum of O N E T H O U S A N D D O L L A R S ($1,000), on October 1, 19 , and to pay interest on said sum from the date hereof until paid at the rate of per cent ( % ) per annum, payable April 1, 1963, and semiannually thereafter on the first days of April and October in each year until the principal amount hereof has been fully paid. Interest accruing on this bond on and prior to the maturity date hereof shall be payable on presentation and surrender of the interest coupons hereto attached as they subsequently become due, but no interest shall accrue on this bond after the maturity hereof unless this bond shall be presented for payment and be not then paid. Both principal hereof and interest hereon are hereby made payable in any coin or currency which, on the respective dates of payment of such principal and interest, is legal tender for the payment of debts due the United States of America, at The First National Bank of Chicago (hereinafter called "Trustee"), or its successor in trust under the Resolution hereinafter referred to, in the City of Chicago, Illinois, or at the option of the holder, at T h e Chase Manhattan Bank, in the Borough of Manhattan and City and State of New York. This bond is one of an authorized series of Dollars ($ ) principal amount of Housing Revenue Bonds of 1962, Series , which, with the 1962 Series Bonds constitute an issue of Six Million Seven Hundred Thousand Dollars ($6,700,000), 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, Fourth, Fifth and Sixth Supplemental Resolutions thereto duly adopted June 23, 1959, October 21, 1959, June 14, 1960, May 17, 1961, May 24, 1962, and October 17, 1962, 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 October 1, 1972, 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 October 1, 1972 through April 1, 1977; two and one-half per cent (21^ % ) of the principal amount thereof if redeemed October 1, 1977 through
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