Repository: UIHistories Project: Board of Trustees Minutes - 1962 [PAGE 1473]

EXTRACTED TEXT FROM PAGE:

1470

BOARD OF TRUSTEES

[May 24

issuance of this bond, have existed, have happened, and have been performed in due form, time, and manner, as required by law and the applicable resolutions of The Board of Trustees of the University of Illinois, and that provision has been made for setting aside the income and revenue to be derived from the operation of said facilities to be applied in the manner hereinabove set forth. I N WITNESS WHEREOF, The Board of Trustees of the University of Illinois has caused this bond to be executed by the facsimile signatures of its President and two of its members, the corporate seal of the University of Illinois to be hereto affixed (or a facsimile thereof to be reproduced hereon), and attested by its Secretary, and this bond to be dated as of the 1st day of , 19 T H E BOARD O F T R U S T E E S OF THE UNIVERSITY OF ILLINOIS Attest: Secretary Member ARTICLE THREE

MISCELLANEOUS

By President Member

SECTION 3.1. Application of Bond Proceeds. The Board of Trustees hereby determines that Project F will become revenue producing on or about September 30, 1963 and therefore that portion of the proceeds of the 1962 Series A Bonds representing the interest accrued on such Bonds to the date of payment therefor shall, together with an amount equal to the interest to accrue on such Bonds through September 30, 1963 be deposited with the Trustee in the Bond and Interest Sinking Fund account as required by Section 6.01 of the Resolution. The balance of said proceeds of the 1962 Series A Bonds shall, as required by Section 6.01 of the Resolution, be deposited in a bank or banks which are members of the Federal Deposit Insurance Corporation and shall be accounted for as one or more separate funds. The application of the funds in such accounts and the disposition thereof shall in all respects comply with all the terms and provisions of Article Six of the Resolution, subject to the terms and provisions of any contract or agreement permitted by or contemplated in said Article Six between The Board of Trustees and any original purchaser of such Bonds. SECTION 3.2. Exchanges of 1962 Series A Bonds. Notwithstanding the provisions of Section 2.08 of the Original Resolution the University may, in addition to any other charges permitted to be made upon the exchange or transfer of bonds, charge to the holders of any fully registered 1962 Series A Bonds presented for exchange for coupon Bonds, the actual costs of printing new coupon Bonds for the purpose of making such exchange. However, 1962 Series A Bonds originally issued in fully registered form at the time of initial delivery thereof may be exchanged without charge for coupon Bonds by the initial purchaser of such Bonds. SECTION 3.3. Interpretation and Construction. This Fifth Supplemental Resolution is supplemental to and is adopted in accordance with Sections 2.06 and 4.02 of the Resolution. In all respects not inconsistent with this Fifth Supplemental Resolution, the Resolution is hereby ratified, approved and confirmed, and all of the definitions, terms, covenants and restrictions of the Resolution shall be applicable to the additional Bonds authorized by this Fifth Supplemental Resolution and the proceeds thereof except as otherwise expressly provided. All of the terms and provisions of this Fifth Supplemental Resolution shall be deemed to be a part of the terms and provisions of the Resolution, and the Resolution and this Fifth Supplemental Resolution shall be read, taken and construed as one and the same instrument. In executing or authenticating any Bond authorized by this Fifth Supplemental Resolution the Trustee and each officer, agent or employee of the University shall be entitled to all of the privileges and immunities afforded to them under the terms of the Resolution SECTION 3.4. Resolution Effective on Passage. This resolution shall become effective upon its passage.