Repository: UIHistories Project: Board of Trustees Minutes - 1960 [PAGE 479]

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476

BOARD OF TRUSTEES

[June 23

sections ( 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 1, 1, 1, 1, I, Period of Redemption 1966 through October 1, 1969 1970 through October 1, 1973 1974 through October I, 1977 1978 through October I, 1081 1982 and thereafter without premium. Applicable Premium 2^2% 2 % IYi% I %

T h e bonds shall also be redeemable through the operation of the Fixed Sinking F u n d 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 T h r e e 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, Illinois, 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 (or any portion thereof) shall have been duly called for redemption, interest thereon (or on such portion called for redemption) shall cease from and after the specified redemption date if redemption moneys are available for payment of all bonds (or the portions thereof) called for redemption. This bond and t h e 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 Chapter 144 of the Illinois Revised Statutes, 1957, and all laws amendatory thereof and supplemental thereto and the Resolution above referred to. This bond is payable, both as to principal and interest, only from the revenues required to be credited to the Assembly Hall Revenue Bond Fund as provided in the Resolution; which revenues are to be derived from (1) the operation of the revenue producing facilities constructed, completed and equipped with the proceeds of this bond issue and additional bonds which may hereafter be issued pursuant to the Resolution, (2) the operation of any other revenue producing facilities which may subsequently be pledged pursuant to any supplemental resolution creating or authorizing additional bonds to be issued pursuant to the Resolution and (3) University income authorized by law to be retained in the University treasury (in addition to the student service charges made for the use of the facilities), but not in excess of $200,000 annually plus such additional sums as may be specified in any resolution supplemental to the Resolution creating or authorizing the issuance of additional bonds. This bond and the series of which it forms a part do not constitute an indebtedness of said University of Illinois, T h e Board of Trustees of the University of Illinois, or the State of Illinois within any constitutional or statutory limitation, and neither the taxing power nor the general credit of said University, of said Board of Trustees, or the State of Illinois is pledged to the payment of this bond or the interest thereon. Subject to the provisions for registration and transfer contained herein and in the Resolution, this bond and all other bonds of this issue shall have all of the qualities of negotiable instruments, and shall be transferable by the registered owner at the principal ofKce of the Comptroller of the University, upon surrender and cancellation of this bond and thereupon a new registered bond without coupons of the same principal amount, interest rate and maturity will be issued to the transferee as provided in the Resolution and upon payment of charges and otherwise as therein prescribed. T h e Board of Trustees of the University oi Illinois, the Trustee and any other person may treat the person in whose nape this bond is registered as the absolute owner hereof for the purpose of receiving