Repository: UIHistories Project: Board of Trustees Minutes - 1960 [PAGE 209]

EXTRACTED TEXT FROM PAGE:

2C»6

BOABD OF TRUSTEES

[December 17

Series B Bonds Amount Interest Rate * 65,000 3% 70,000 3% 70,000 3% 75,000 3% 75,000 3% 80,000 3% 80,000 3%

$1

Fear 0/ 1987 1988 1989 1990 1991 1992 1993

Maturity

Series A Bonds Amount Interest Rate $ 70,000 4 %

70,000 75,000 75.0O0 80,000 80,000 85,000 $1,625,000 4-1% 4-1% 4-1% 4-1% 4-1% 1 %

,525.°°o

T h e Series A Bonds and the Series B Bonds shall be redeemable prior to their maturity at the option of the Board of Trustees, either in whole or in part, on October 1, 1968, or on any interest payment date thereafter in the inverse order in which they mature at the principal amount thereof, together with the interest accrued thereon to the date fixed for redemption plus a premium of the following percentages of such principal amount if redeemed during the following periods respectively: Applicable Premium Period of Redemption Series A Bonds Series B Bonds October 1, 1968 through April 1, 1973 3 % 3 % October 1, 1973 through April 1, 1978 2}4% 2}4% October 1, 1978 through April 1, 1983 2 % 2 % October I, 1983 through April 1, 1988 1)4% 1}4% October 1, 1988 or thereafter and prior to maturity. 1 % 1 % all redemptions shall be made in the manner, upon the notice and with the effect provided in Article Three hereof. SECTION 2.04. Payment of Principal and Interest. Both the principal of and the interest on the Series A and Series B 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 T h e Chase Manhattan Bank, or its successor, in the Borough of Manhattan and City and State of New York. SECTION 2.05. Form of Bonds. T h e definitive coupon Bonds of Series A and Series B, the interest coupons to be attached thereto, the form of fully registered Bonds without coupons of Series A and Series B, the form of registration endorsement to appear on all coupon Bonds, the certificate of authentication of the Trustee to appear on all Bonds and the form of assignment to appear on the fully registered Bonds 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 TRUSTEES OF T H E UNIVERSITY OF ILLINOIS H O U S I N G R E V E N U E B O N D O F 1958 (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, 1959, 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