Repository: UIHistories Project: Board of Trustees Minutes - 1960 [PAGE 446]

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19591

UNIVERSITY OF ILLINOIS

443

subsection (b) of Section 5.02 of the Original Resolution, or (b) $150,000 plus such additional sums as may be specified in any other resolution supplemental to the Original Resolution as supplemented hereby, creating or authorizing the issuance of additional Bonds. ARTICLE TWO

1959 SERIES A BONDS AND 1959 SERIES B BONDS, AND T H E ISSUANCE THEREOF

SECTION 2.1. Project B and Purpose of Issue of Bonds. The project (hereinafter designated "Project B") to be acquired, constructed, equipped and completed pursuant to this First Supplemental Resolution is described in a general way a s : A seven-story residence hall with a three-story wing, without dining facilities, to house approximately 307 single graduate students to be located at 1010 West Green Street, Urbana, Illinois. The estimated cost of said Project B is $1,640,000 exclusive of land and exclusive of any pro rata share of the University power and heating plant serving the project and the estimated cost of each portion of said Project B is more fully set forth in the plans and specifications therefor on file with the Comptroller of the University. It is hereby determined that in order to produce the funds necessary to construct and equip Project B that the University borrow the sum of $1,640,000 and in evidence thereof to issue its Housing Revenue Bonds hereunder in said principal amount. SECTION 2.2. Terms of 1959 Series A Bonds and 1959 Series B Bonds. There is hereby created and authorized two additional series of Bonds to be issued under the Original Resolution as supplemented by this First Supplemental Resolution to be substantially in the form and of the tenor and purport hereinafter set forth and limited to the aggregate principal amount of One Million Six Hundred F o r t y Thousand Dollars ($1,640,000) at any one time outstanding. One Hundred Ten Thousand Dollars ($110,000) of which shall be designated "The Board of Trustees of the University of Illinois Housing Revenue Bonds of 1959, Series A " (hereinafter called "1959 Series A Bonds"), and the remaining One Million Five Hundred Thirty Thousand Dollars ($1,530,000) principal amount thereof shall he designated "The Board of Trustees of the University of Illinois Housing Revenue Bonds of 1959, Series B" (hereinafter called "1959 Series B Bonds"). The 1959 Series A Bonds and the 1959 Series B Bonds shall be issued as negotiable coupon Bonds dated April 1, 1959, registrable as to principal in the denomination of $1,000 or as fully registered Bonds without coupons, dated as of the interest payment date to which interest was last paid, next preceding the date of issue, unless issued on an interest payment date on which interest was paid, in which case they shall be dated as of the date of issue, or unless issued prior to October 1, 1959, in which case they shall be dated April I, 1959. Each fully registered Bond without coupons shall be of a single maturity. Fully registered Bonds without coupons, shall be numbered in such manner satisfactory to the Trustee as may be designated by the Comptroller and shall be issued in denominations of $1,000 or multiples thereof, shall bear interest from April 1, 1959, payable semi-annually on the first days of April and October in each year until paid, commencing October I, 1959, at the rates provided below and shall mature in the following amounts on October 1 of the following years: Year of Maturity 1961 1962 1963 i9 6 4 1965 '966 •967 1968 1969 '970 '97i IQS9 •Series A Bonds Amount Interest Rate $ 10,000 5% 10,000 5% 10,000 5% 10,000 5% 10,000 5% 15,000 5% 15,000 5% 15,000 2% 15,000 2% IQS9 Series B Bonds Amount Interest Rate 15,000 15,000 21A% 15,000 2H% 15,000 2H% 15,000 2H% 15,000 2HV0 15,000 ^A% 15,000 2H% 15,000 2H% 30,000 2H% 30,000 2H%

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