Repository: UIHistories Project: Board of Trustees Minutes - 1962 [PAGE 244]

EXTRACTED TEXT FROM PAGE:

I960]

April April April April i, 1, 1, I,

UNIVERSITY OF ILLINOIS Period of Redemption I97> through October i, 1975 1976 through October I, 1980 1981 through October 1, 1985 1986 and thereafter without premium,

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Applicable Premium 3% 2% 1%

provided, however, that the bonds of this series may be redeemed in the inverse order in which they mature at any time after completion of the Project out of excess funds then remaining in any Construction Fund Account established with the proceeds of the bonds of this series, at the principal amount thereof together with interest accrued thereon to the date fixed for redemption but without premium. All redemptions shall be made in the manner, upon die notice and with the effect provided in Article Three of the Resolution.] Notice of redemption of any or all of said bonds shall be published once a week for two successive calendar weeks, the first such publication to be not less than thirty days prior to the date of redemption, such publication to be made in one daily newspaper printed in the English language and published and of general circulation in the City of Chicago, Illinois, and also in a financial newspaper printed in the English language and published and of general circulation in the Borough of Manhattan, City and_ State of New York, and when this bond or any of the bonds of such authorized issue sha!! have been duly called for redemption, interest thereon shall cease from and after the specified redemption date if redemption monies are available for the payment of all bonds called for redemption. This bond and the series of which it forms a part is issued under the authority of The Board of Trustees of the University of Illinois to issue and sell revenue bonds under the provisions of paragraphs 48.1 through 48.7 of Chapter 144 of the Illinois Revised Statutes, 1959, and all laws amendatory thereof and supplemental thereto and the Resolution above referred to. This bond is payable, both as to principal and interest, only from the revenues required to be credited to the Mini Union and Health Center Bond Fund as provided in the Resolution; which revenues are to be derived from (1) the operation of the present Mini Union Building, (2) the operation of the revenue producing facilities constructed, completed and equipped with the proceeds of this bond issue and additional bonds which may hereafter be issued pursuant to the Resolution, (3) the operation of any other revenue producing facilities which may subsequently be pledged pursuant to any supplemental resolution creating or authorizing additional bonds to be issued pursuant to the Resolution and (4) student service charges (as defined in the Resolution) for the use of the facilities. This bond and ilie series of which it forms a part do not constitute an indebtedness of said University of Illinois, The Board of Trustees of the University of Illinois, or the State of Illinois within any constitutional or statutory limitation, and neither the taxing power nor the general credit of said University, or said Board of Trustees, or the State of Illinois is pledged to the payment of this bond or the interest thereon. Subject to the provisions for registration and transfer contained herein and in the Resolution, this bond and all other bonds of this issue shall have all of the qualities of negotiable instruments, and shall be transferable by the registered owner at the office of the Registration Agent in the City of Chicago, Illinois, upon surrender and cancellation of this bond and thereupon coupon bonds or a new registered bond without coupons of the same principal amount, interest rate and maturity will be issued to the transferee as provided in the Resolution. The Board of Trustees of the University of Illinois, any paying agent, the Registration Agent and any other person may treat the person in whose name this bond is registered as the absolute owner hereof for the purpose of receiving payment and for all other purposes and shall not be affected by any notice to the contrary whether this bond be overdue or not. The bonds of this series _ are issuable as coupon bonds registrable as to principal only in the denomination of $1,000 and as registered bonds without coupons in the denomination of $1,000 or a multiple thereof. Each fully registered bond without coupons shall be of a single maturity. The coupon bonds and the registered, bonds without eoupons are interchangeable for bonds of the same interest fate and maturity upon presentation thereof for such purpose by the holder or registered owner at the office of the Registration Agent in the City of Chicago, Illinois, and upon payment of charges and otherwise as provided iu the Resolution.