Repository: UIHistories Project: Board of Trustees Minutes - 1960 [PAGE 482]

EXTRACTED TEXT FROM PAGE:

19591

UNIVERSITY OF ILLINOIS

479

be attached to the Bonds shall bear the facsimile signatures of the President and Secretary of the Board of Trustees. In case any person who shall have signed, sealed or attested any Bond issuable under this Resolution as an officer or member of the Board of Trustees, shall have ceased to be such officer or member before the Bond so signed, sealed or attested shall have been actually delivered, such Bond nevertheless may be delivered and issued as though the person who signed, sealed or attested such Bond had not ceased to be such officer or member of the Board of Trustees. Any Bond issuable hereunder may be signed, sealed or attested on behalf of the Board of Trustees by any person who at the actual date of execution of such Bond is the proper person, although at the date of such Bond such person shall not have been an officer or member of the Board of Trustees. SECTION 2.08. Registration and Transfer of Bonds. T h e University shall keep at the office of the Comptroller of the University books for the registration and transfer of Bonds issued hereunder, which, at all reasonable times, shall be open for inspection by the holder of any Bond issued hereunder, and upon presentation for the purpose at such office, the University will register or transfer or cause to be registered or transferred therein, as hereinafter provided, and under such reasonable regulations as it may prescribe, any Bonds issued under this Resolution and entitled to be so registered or transferred. The holder of any coupon Bond issued hereunder may have the ownership of the principal thereof registered on said books of the University at the office of the Comptroller of the University and such registration shall be noted on the Bond. After such registration no transfer shall be valid unless made on the said books by the registered owner in person, or by his duly authorized attorney, and similarly noted on the B o n d ; but the same may be discharged from registration by being in like manner transferred to bearer, and thereupon transferability by delivery shall be restored; and such Bond may again, from time to time, be registered or transferred to bearer as before. Such registration, however, shall not affect the transferability of the coupons, but every such coupon shall continue to be transferable by delivery merely, and shall remain payable to bearer. Such registrations and discharges from registration shall be without expense to the holder of the Bonds. Any registered Bond without coupons may be transferred at the office of the Comptroller of the University by surrender of such Bond for cancellation, accompanied by delivery of a written instrument of transfer duly executed by the registered owner of such Bond or his duly authorized attorney, and thereupon the University may, but shall not be required to, issue in the name of the transferee or transferees a new registered Bond or Bonds of like form and maturity and for a like aggregate principal sum. A registered Bond without coupons, upon request of the registered owner, may be exchanged at the office of the Comptroller of the University for several such Bonds, of like form and maturity but of lesser authorized denominations, in the same name and for a like aggregate principal sum, and several registered Bonds, without coupons, in the same name, may, upon request of the registered owner, be exchanged at such office for one registered Bond without coupons or several such Bonds, of like form and maturity, but of greater authorized denominations and for the same aggregate principal sum. Whenever any coupon Bonds in aggregate principal amount equal to one or more registered Bonds without coupons of authorized denominations, with all unmatured coupons thereto attached, shall be surrendered at such office for exchange for a registered Bond or Bonds without coupons, the University may, but shall not be required to, issue, in exchange for such coupon Bonds, registered Bonds, or one registered Bond, of authorized denominations without coupons, of the same maturity and for a like aggregate principal sum. Whenever any registered Bond without coupons shall be surrendered for cancellation, accompanied by delivery of a written instrument of transfer duly executed by the registered owner of such Bond or his duly authorized attorney, at the office of the Comptroller of the University, for exchange for coupon Bonds, and whenever the University shall elect not to issue new registered Bonds without coupons upon presentation of any such fully registered Bond or Bonds for transfer the University shall issue, and, in exchange for such registered