Caption: Board of Trustees Minutes - 1994
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1995] UNIVERSITY OF ILLINOIS 225 4. 5. 6. 7. 8. Purchase Contract between the board and MGSC; (b) Natural Gas Prepayment Agreement between the Board and MGSC; (c) Predetermined Allocation Agreement among the board, MGSC, and NGPL; and (d) Guarantee between the board and MidCon Corp. 1 Approve the execution and delivery of an Acquisition Agreement between the board and the vendor, the Purchase Contract between the board and the vendor and the Indenture of Trust and Assignment of Purchase Contract among the board, the vendor, and the trustee. 1 Approve purchase of Bond Insurance from AMBAC at a cost not to exceed $800,000. Approve Preliminary and Final Official Statements and Notice of Sale. 1 Authorize the trustee to issue Certificates of Participation (University of Illinois Natural Gas Purchase Project) Series 1995 on behalf of the board in a principal amount not to exceed $32.5 million (net of original issue discount), at a true cost of interest not to exceed 6.75 percent and at a purchase price of not less than 99 percent of the amount of Certificates issued. Approve omnibus authority to the comptroller and other officers of the board to do everything else needed to proceed and close on the sale following the board meeting. Competitive bids on the COPs will be opened and a successful bid awarded subsequent to this board meeting. Results would be reported at the April meeting of the board. Funds required for payments authorized above would be forthcoming from the proceeds of the sale of these COPs. I concur. The Board of Trustees of the University of Illinois Certificates of Participation, Series 1995 Natural Gas Purchase Contract Estimated Sources and Uses of Funds Sources of Funds: Principal Amount of Certificates Accrued Interest Total Sources Uses of Funds: Natural Gas Prepayment Accrued Interest Estimated Cost of Issuance* Underwriter's Discount Debt Service Reserve Fund Total Uses * Includes Bond Insurance $32 500 000 120 000 $32 620 000 $28 100 120 990 160 3 250 $32 620 000 000 000 000 000 000 On motion of Dr. Gindorf, these recommendations were approved by the following vote: Aye, Mr. Engelbrecht, Dr. Gindorf, Mrs. Grav1 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 of 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, mat if any such changes constitute a substantial change in the form thereof presented to this meeting they shall first De approved by the Executive Committee of the board, to which authority for such approval is delegated by the board.
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