Repository: UIHistories Project: Board of Trustees Minutes - 1962 [PAGE 260]

EXTRACTED TEXT FROM PAGE:

1960]

UNIVEESITY OF ILLINOIS

257

be signed and executed by Bond holders may be in one or more instruments of similar tenor, and shall be signed or executed by Bond holders in person or by their attorneys-in-fact appointed in writing. Except as otherwise herein expressly provided, the fact and date of the execution by any Bond holder or his attorney-in-fact of such request, declaration or other instrument or writing appointing such attorney-in-fact may be proved by the certificate of any notary public or other officer authorized to take acknowledgments of deeds to be recorded in the State in which he purports to act, that the person signing such request, declaration or other instrument or writing acknowledged to him the execution thereof, or by an affidavit of a witness of such execution, duly sworn to before such notary public or other officer. Except as otherwise herein expressly provided in this Resolution, the amount of Bonds transferable by delivery held by any person executing such request, declaration or other instrument or writing as a Bond holder, and the numbers thereof, and the date of his holding such ^onds, may be proved by a certificate, which need not be acknowledged or verified, satisfactory to the University, executed by a trust company, bank, investment banker, dealer, broker or other depositary wherever situated, showing that at the date therein mentioned such person exhibited to or had on deposit with such depositary the Bonds described in such certificate. Continued ownership after the date of deposit stated in such certificate may be proved by the presentation of such certificate i£ the certificate contains a statement by the depositary that the Bonds therein referred to are in tact held on deposit by such depositary and will not be surrendered without the surrender of the certificate to the depositary. The University may nevertheless in its discretion require further or other proof in cases where it deems the same desirable. The ownership of registered Bonds and the amount, maturity, number and date of holding the same shall be proved by the registry books. Any request, declaration or other instrument or writing of the owner of any Bond shall bind all future owners of such Bond in respect of anything done or suffered to be done by the University hereunder in good faith and in accordance therewith. SECTION Io.OS- Waiver of Personal Liability. No officer, agent or employee of the University shall be individually or personally liable for the payment of the principal of or interest on the Bonds; but nothing herein contained shall relieve any such officer, agent or employee from the performance of any official duty provided by law. SECTION 10.06. Official Publication. Any publication to be made under the provisions of this Resolution in successive weeks may be made in each instance upon any business day of the week and need not be made on the same day of any succeeding week nor in the same newspaper for any or all of the successive publications, but may be made in different newspapers. SECTION 10.07. Partial Invalidity. If any one or more of the covenants or agreements, or portions thereof, provided in this Resolution should be contrary to law, then such covenant or covenants, such agreement or agreements or such portions thereof, shall be null and void and shall be deemed separable from the remaining covenants and agreements or portions thereof and shall in no way 1 affect the validity of this Resolution or of the Bonds. SECTION 10.08. Headings and Index. Any headings preceding the texts of the several articles hereof and any table of contents appended to copies hereof shall be solely for convenience of_ reference and shall not constitute a part of this Resolution, nor shall they affect its meaning, construction or effect. SECTION 10.09. Covenants Not to Be Deemed Covenants of Any Present or • FuJwre Officer, Agent or Employee of University. All covenants, stipulations, ' obligations and agreements of the University contained in this Resolution shall . be deemed to be covenants, stipulations, obligations and agreements of the Uni: versity to the full extent authorized by law and permitted by the Constitution of the State of_ Illinois, and no covenants, stipulations, obligations or agreements contained herein shall be deemed to be a covenant, stipulation, obligation or agreement of any present or future officer, agent or employee of the University m his individual capacity, and no officer executing the Bonds shall be liable personally on the Bonds or be subject to any personal liability or accountability by