Repository: UIHistories Project: Board of Trustees Minutes - 1960 [PAGE 448]

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UNIVERSITV OF ILLINOIS

445

( 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 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 — $l,ooo T H E BOARD OF T R U S T E E S OF T H E U N I V E R S I T Y OF ILLINOIS, a body corporate, created and existing under the laws of the State of Illinois, for value received promises to pay to bearer, but only out of the Housing Revenue Bond Fund, as hereinafter provided for, and not otherwise, the principal sum of ONE T H O U S A N D D O L L A R S ($i,ooo), 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 October 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 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 1959, Series , which, with the 1959 Series Bonds constitute an issue of One Million Six Hundred Forty Thousand Dollars ($1,640,000), 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 a First Supplemental Resolution duly adopted , 1959 (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. (1959 Series A Bonds Only) [The bonds of this series are not subject to redemption at the option of T h e Board of Trustees of the University of Illinois prior to maturity.] (1959 Series B Bonds Only) [The bonds of this series are redeemable prior to maturity as a whole or in part on April 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 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 April 1, 1969, through October 1, 1973; two and one-half per cent (2J^%) of the principal amount thereof if redeemed April 1, 1974, through October 1, 1978; two per cent ( 2 % ) of the principal amount thereof if redeemed April 1, 1979, through October I, 1983; one and one-half per cent (154%) of the principal amount thereof if redeemed April I, 1984, through October I, 1988; one per cent ( 1 % ) of the principal amount thereof if redeemed on April 1, 1989, through October 1, 1993; and without premium if redeemed on April 1, 1994, or thereafter.] Notice of redemption of any or all of said bonds shall be published once a week for two successive calendar weeks, the first such publication to be not less than thirty days prior to the date of redemption, such publication to be made in one daily newspaper published and of general circulation in the City of Chicago and also in a financial newspaper published and of general circulation in the