Repository: UIHistories Project: Board of Trustees Minutes - 1962 [PAGE 1397]

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1394

BOARD OF T R U S T E E S

[March 17

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: Period of Redemption Applicable Premium October 1, 1971 through October 1, 1974 4% April 1, 1975 through October 1, 1977 3% April 1, 1978 through October 1, 1980 2% April 1, 1981 through October 1, 1983 1% April 1, 1984 and thereafter without premium. The Series 1962 Bonds shall also be redeemable prior to their maturity on any interest payment date on and after, but not prior to October 1, 1966 or the date of redemption of all Series 1959 Bonds, whichever shall last occur, through the operation of the Bond Retirement Account at the principal amount thereof, together with interest accrued thereon to the date fixed for redemption but without premium. The Series 1962 Bonds shall also be redeemable through the operation of the Fixed Sinking Fund provided for in Article Two of this First Supplemental 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. AH redemptions shall be made in the manner, upon the notice, and with the effect provided in Article Three of the Original Resolution. SECTION 1.3. Payment of Principal and Interest. Both the principal of and the interest on the Series 1962 Bonds shall be payable in any coin or currency which on the respective date of payment of such principal and interest, is legal tender for the payment of debts due the United States of America, at the Sears Bank & Trust Company, or its successor, in the City of Chicago, Illinois. SECTION 1.4. Form of Registered Series 1962 Bonds. The form of fully registered Series 1962 Bonds without coupons, the form of principal payment record and the form of assignment to appear on all fully registered Bonds shall be in substantially the following forms with appropriate insertions, omissions, and variations to evidence differences in number, amount, interest rate, and like matters: (Form of Registered Bond Without Coupons) U N I T E D STATES OF AMERICA STATE OF ILLINOIS T H E BOARD OF T R U S T E E S OF T H E UNIVERSITY OF ILLINOIS ASSEMBLY HALL REVENUE BOND S E R I E S 1962 No $ The Board of Trustees of the University of Illinois, a body corporate, created and existing under the laws of the State of Illinois, for value received promises to pay (but only out of the Assembly Hall Revenue Bond Fund as hereinafter provided for, and not otherwise) to , or registered assigns, on October 1, 1985, the principal sum of Dollars ($ ) and to pay interest thereon (which shall be paid by check or draft mailed to the registered owner at his address as it appears on the bond registration books of the University), at the rate of four per cent (4%) per annum on the unpaid balance thereof, said interest being payable October 1, 1962, and semi-annually thereafter on the first days of April and October in each year from the date hereof until the principal amount hereof has been fully paid. Both principal hereof and interest hereon are made payable in any coin or currency which on the respective dates of payment of such principal 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 Six Hundred Thousand Dollars ($600,000) principal amount of Assembly Hall Revenue Bonds, Series