Repository: UIHistories Project: Board of Trustees Minutes - 1960 [PAGE 475]

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472

BOARD OF TRUSTEES

[June 23

and interest, is legal tender for the payment of debts due the United States of America, at the Sears Bank and Trust Company, or its successor, in the City of Chicago, Illinois. This bond is one of an initial authorized issue of Seven Million Seven Hundred Fifty Thousand Dollars ($7,750,000) principal amount of Assembly Hall Revenue Bonds, Series 1959, issued and to be issued pursuant to a Bond Resolution (herein called "Resolution") of T h e Board of Trustees of the University of Illinois duly adopted , 1959, for the purpose of providing funds for paying the cost of constructing and equipping an Assembly Hall as set forth in the Resolution. 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. T h e bonds of this series are redeemable prior to their maturity at the option of the Board of Trustees, either in whole or in part, on any interest payment date on and after, but not prior to October 1, 1971, 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: October April April April April 1, I, I, I, 1, Period of Redemption 1971 through October 1, 1974 1975 through October I, 1977 1978 through October I, 1980 1981 through October I, 1982 1983 and thereafter without premium. Applicable Premium 4% 3% 2% 1%

T h e bonds of this series are also redeemable prior to their maturity on any interest payment date on and after, but not prior to October I, 1966, through the operation of the Bond Retirement Account and at the option of the Board of Trustees out of surplus moneys remaining in the Assembly Hall Revenue Bond Fund in any fiscal year after first complying with all provisions of subsections ( a ) and (b) of Section 5.02 of the Resolution at the principal amount thereof, together with interest accrued thereon to the date fixed for redemption plus a premium equal to the following percentages of such principal amount if redeemed during the following periods respectively: October April April April April I, 1, I, I, I, Period of Redemption 1966 through October I, 1969 1970 through October I, 1973 1974 through October 1, 1977 1978 through October 1, 1981 1982 and thereafter without premium. Applicable Premium 2l/i% 2 % 1^2% I %

T h e bonds of this series are also redeemable through the operation of the Fixed Sinking Fund provided for in Article Five of the Resolution, in which case such redemption shall be upon payment of the principal amount of the Bonds to be redeemed or portion of such principal amount to be redeemed and accrued interest thereon to the date fixed for redemption and without premium. All redemptions shall be made in the manner, upon the notice and with the effect provided in Article Three of the Resolution. 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 unless all bonds at the time outstanding shall be in fully registered form in which case such notice may be given only by registered or certified mail, and when this bond or any of the bonds of such authorized issue shall have been duly called for redemption, interest thereon shall cease from and after the specified redemption date if redemption moneys are available for the payment of all bonds called for redemption. This bond and the series of which it forms a part is issued under the authority of T h e Board of Trustees of the University of Illinois to issue and sell revenue bonds under the provisions of paragraphs 48.1 through 48.7 of