Repository: UIHistories Project: Board of Trustees Minutes - 1960 [PAGE 496]

EXTRACTED TEXT FROM PAGE:

1959]

UNIVERSITY OF ILLINOIS

493

SECTION 11.03. Attendance in Person or by Proxy. Attendance and voting by Bond holders at such meeting may be in person or by proxy. Owners of Registered Bonds may, by an instrument in writing under their hands, appoint any person as their proxy to vote at any meeting for them. In order that holders of Bonds payable to bearer or their proxies may attend and vote without producing their Bonds, the University may make and from time to time vary such regulations as it shall think proper for the deposit of Bonds with, or exhibit of Bonds to, any banks or trust companies wherever situated, and for the issue by them, to the persons depositing or exhibiting such Bonds, of certificates in form approved by the University which shall constitute proof of ownership entitling the holders thereof to be present and vote at any such meeting and to appoint proxies to represent them and vote for them at any such meeting in the same way as if the persons so present and voting, either personally or by proxy, were the actual bearers of the Bonds in respect of which such certificates shall have been issued, and any regulations so made shall be binding and effective. Copies of such regulations shall be kept on file in the offices of the paying agent in Chicago, Illinois, and the Secretary of the University. Any registered owner of Bonds or any holder of a certificate provided for in this Section 11.03 shall be entitled in person or by proxy to attend and vote at such meeting as holder of the Bonds registered or certified in his name, without producing such Bonds. All others seeking to attend or vote at such meeting in person or by proxy must produce the Bonds claimed to be owned or represented at such meeting, and all persons seeking to attend or vote at such meeting in person or by proxy shall, if required, produce such further proof of Bond ownership or personal identity as shall be satisfactory to the University. All proxies presented at any meeting shall be delivered to the inspectors of votes and filed with the University. SECTION 11.04. Amendments by Written Consent of Bond Holders. The University may at any time adopt a valid resolution amending the provisions of the Bonds or of this Resolution or of any resolution supplemental hereto, to the extent that such an amendment is permitted by the provisions of Section 11.01, to take effect when and as provided in this Section. A copy of such resolution, together with a request of the University to Bond holders for their consent thereto, shall be mailed by the University to each registered owner of Bonds and notice of the adoption thereof shall be published in the manner provided in Section 11.02 for the mailing and publication referred to in that Section (but failure to mail copies of such resolution and request shall not affect the validity of the resolution when assented to as in this Section provided). Such resolution shall not be effective unless and until there shall have been filed with the University the written consents of the percentage of holders of outstanding Bonds specified in Section 11.01. Each such consent shall be effective only if accompanied by proof of ownership of the Bonds for which such consent is given, which proof shall be such as is permitted by Section 11.03. Any such consent shall be binding upon the holder of the Bonds giving such consent and on any subsequent holder of such Bonds (whether or not such subsequent holder has notice thereof). SECTION 11.05. Supplemental Resolutions or Amendments Without Consent of Bond Holders. The Board of Trustees may from time to time and at any time, subject to the conditions and restrictions in this Resolution contained, but without requiring the consent of the holders of any of the Bonds, adopt a resolution or resolutions supplemental hereto, which shall thereafter form a part hereof for any one or more or all of the following purposes: ( a ) T o add to the covenants and agreements of the University in this Resolution contained, other covenants and agreements thereafter to be observed a n d / o r to surrender any right or power herein reserved to or conferred upon the Board of T r u s t e e s ; (b) T o clarify any ambiguity or to clarify, correct or supplement, any defect or inconsistent provision contained in this Resolution or any resolution supplemental hereto; and (c) T o provide for the issuance of additional Bonds hereunder upon the terms and conditions in this Resolution specified.