Repository: UIHistories Project: Board of Trustees Minutes - 1962 [PAGE 499]

EXTRACTED TEXT FROM PAGE:

496

BOABD OF TRUSTEES

[May 1?

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 coupon 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 withont coupons are interchangeable for bonds of the same interest rate and maturity upon presentation thereof for such purpose by the holder or registered owner at the principal office of the Trustee in the City of Chicago, Illinois, and upon payment of charges and otherwise as provided in the Resolution. The rights and obligations of the University and of the holders of the bonds may be modified or amended at any time with the consent of The Beard of Trustees of the University of Illinois and of the holders of sixty-six and two. thirds per cent (66^%) in principal amount of outstanding bonds in the manner, to the extent, and upon the terms and conditions provided in the Resolution; provided that no such modification or amendment shall (i) extend the maturity of or reduce the interest rate on or otherwise alter orimpair the obligation of the University to pay the principal, interest or redemption premiums, if any, at the time and place and at the rate and in the currency provided therein of any bond without the express consent of the holder, or (ii) permit the creation of any mortgage or pledge or lien on the facilities, or upon any income therefrom or other funds pledged or held under the Resolution, except as permitted by the Resolution, other than the Hen and pledge created thereunder, or (iii) permit the creation by The Board of Trustees of the University of Illinois of any preference or priority of any bond or bonds over any other bond or bonds or coupon or coupons over any other coupon or coupons, or (iv) reduce the percentage of principal amount of bonds required for the affirmative vote or written consent to an amendment or modification without the consent of the holder of this bond; all as more fully set forth in the Resolution. The Board of Trustees of the University of Illinois hereby covenants with the holder of this bond that it will keep and perform all the covenants and agreements in the Resolution adopted by it, authorizing the issuance of this bond mi the series of which it forms a part, and hereby irrevocably obligates itself to administer the said income and revenue derived from the operation of said facilities, as provided for in and by said Resolution, and to establish from lime to time parietal rules, rents, and charges for the use of said facilities and lo maintain and collect rents and charges and to withhold student tuitions, sufficient to pay the reasonable cost of operating and maintaining said facilities, and pay the principal of and interest upon all revenue bonds which by their terms are payable from such revenues, until all of such bonds have been paid in full, both as to principal and interest. It is hereby certified and recited and declared that alt acts, conditions, and things required to exist, to happen, and to be performed, precedent to and in the 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 his been made for setting aside the income and revenue to be derived from the operatic" of said facilities to be applied in the manner hereinabove set forth, IN 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 ot 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 — , 1°T H E BOARD OF TRUSTEES OF THE UNIVERSITY OF ILLINOIS Attest:.By .— _ Secretary Preiidetil Member 3fmba