Repository: UIHistories Project: Board of Trustees Minutes - 1960 [PAGE 1030]

EXTRACTED TEXT FROM PAGE:

1959]

UNIVERSITY OF ILLINOIS

IO27

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 1959 Series C and 1959 Series D, the interest coupons to be attached thereto, the form of fully registered Bonds without coupons of 1959 Series C and 1959 Series D, shall be in substantially the following forms with appropriate insertions, omissions and variations to evidence differences in series, number, interest rate, maturity and like

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( F o r m of Coupon Bond) U N I T E D STATES OF AMERICA STATE OF ILLINOIS T H E BOARD O F TRUSTEES OF T H E UNIVERSITY OF 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 1959 ( Series .)

Number $1,000 THE 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 ONE T H O U S A N D D O L L A R S ($1,000), on October I, 19 , and to pay interest on said sum from the date hereof until paid at the rate of per cent ( %) per annum, payable April 1, i960, and semi-annually thereafter on the first days of April and October in each year until the principal amount hereof has been fully paid. Interest accruing on this bond on and prior to the maturity date hereof shall be payable on presentation and surrender of the interest coupons hereto attached as they subsequently become due, but no interest shall accrue on this bond after the maturity hereof unless this bond shall be presented for payment and be not then paid. Both principal hereof and interest hereon are hereby made payable in any coin or currency which, on the respective dates of payment of such principal and interest, is legal tender for the payment of debts due the United States of America, at The First National Bank of Chicago (hereinafter called " T r u s t e e " ) , or its successor in trust under the Resolution hereinafter referred to, in the City of Chicago, Illinois, or at the option of the holder, at The Chase Manhattan Bank, in the Borough of Manhattan and City and State of New York. This bond is one of an authorized series of Dollars ($ ) principal amount of Housing Revenue Bonds of 1959, Series - - •, which, with the 1959 Series Bonds constitute an issue of Six Million Nine Hundred Thousand Dollars ($6,900,000), issued and 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 and Second Supplemental Resolutions thereto duly adopted June 23, 1959 and October 21, 1959, 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, 1969, 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 p°N ^ ' ' n o ' s a t P a r a n d 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, 1969 through April 1, 1974; two and one-half per cent ( 2 ^ % ) of the principal amount thereof if redeemed October 1, 1974 through April 1, 1979; two Spr c e "t (2%) of the principal amount thereof if redeemed October 1, 1979 fh 1:-April *• I&4'> o n e a n d one-half per cent (1^2%) of the principal amount wereof if redeemed October 1, 1984 through April 1, 1989; one per cent ( 1 % )