Repository: UIHistories Project: Board of Trustees Minutes - 1960 [PAGE 500]

EXTRACTED TEXT FROM PAGE:

19591

UNIVERSITY OF ILLINOIS

497

1959 (hereinafter called "Bonds") of the University to be issued under and entitled to the benefit of the provisions and having the characteristics specified in the Bond Resolution applicable thereto, heretofore adopted by this Board of Trustees this date, and WHEREAS, There are before this meeting copies of the form of Purchase Agreement to be entered into between the University and each of said Purchasers relative to the issue and sale by the University and the purchase by said Purchasers of the $7,750,000 aggregate principal amount of said Bonds, and WHEREAS, It appears to this Board of Trustees and the several members thereof that it would be desirable and for the best interests of the University to execute and deliver Purchase Agreements with said Purchasers substantially in the form now before this meeting and hereby approved, and to issue and sell the said Bonds in the aggregate principal amount of $7,750,000; Now, Therefore, Be It and It Is Hereby Resolved, That the Comptroller of the University be and he is hereby authorized, empowered, and directed for and in the name and on behalf of the University to execute and deliver separate Agreements with said Purchasers substantially in the form of the Purchase Agreements now before this meeting, with such changes therein as shall be approved by said Comptroller at the time of executing the same, providing for the issuance and sale to said Purchasers of $7,750,000 aggregate principal amount of the Bonds at a price of 100 per cent of the principal amount thereof, plus accrued interest thereon from the date of said Bonds to the date of delivery thereof and the execution and delivery of such Purchase Agreements by the Comptroller of the University shall constitute conclusive evidence of his approval of any departure therein from the form of Purchase Agreement now before this meeting and hereby approved. Resolved Further, That the proper officers of the University shall be and they are hereby authorized and directed to cause to be prepared an issue of $7,750,000 principal amount of the said Bonds having the characteristics, including sinking fund and redemption provisions, specified therefor in the Bond Resolution applicable thereto, heretofore adopted, and forthwith upon the execution and delivery of the said Purchase Agreements the proper officers of the University shall be and they are hereby authorized, empowered, and directed, for and in the name and under the corporate seal of the University to execute the said Bonds in the aggregate principal amount of $7,750,000, and in such denominations as may be requested by the Purchasers thereof, and thereafter to sell and deliver the said $7,750,000 aggregate principal amount of the Bonds to the Purchasers at a price of 100 per cent of the principal amount thereof plus accrued interest thereon from the date of the said Bonds to the date of delivery thereof, and otherwise in accordance with the terms and provisions of the said Purchase Agreements to be entered into between the University and the Purchasers. Resolved Further, That the proper officers of the University shall be and they are hereby authorized, empowered, and directed to do all such acts and things and to execute and deliver all such documents as may be necessary or by them deemed desirable in order to carry out the purpose and intent of these resolutions, and all of the acts and doings of the officers of the University which are consistent with the purpose and intent of these resolutions shall be and the same are hereby in all respects ratified, approved, and confirmed. This resolution w a s adopted by the following vote: Aye, M r . Clement, M r . H a r e w o o d , M r . H e r r i c k , M r . H u g h e s , M r . J o h n s t o n , M r . Pogue, M r . S w a i n , M r s . W a t k i n s , M r . W i l l i a m s o n ; n o , n o n e ; a b s e n t , Mr. S t r a t t o n , M r . W i l k i n s .

DEGREES C O N F E R R E D IN JUNE The Secretary presented for record the following lists of degrees conferred at the Chicago Professional Colleges on J u n e 12, 1959, and at Urbana on J u n e 13, 1959, in accordance with the authorization of the Board of Trustees.