Repository: UIHistories Project: Board of Trustees Minutes - 1962 [PAGE 507]

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504

BOAKD OF TRUSTEES

[May 17

"Resolution") of The Board of Trustees of the University of Illinois duly adopted May 17, 1961, for the purpose of providing funds for paying the cost 0f constructing and equipping a Student Services Building (herein sometimes calfe} the "Project") as set forth in the Resolution. Said Resolution, among otlitr things, provides for the issuance of additional bonds pursuant thereto only in jj^ event that additional funds are necessary to £ay the cost of completing the Project in the manner and upon the terms and conditions more fully set forth therein. The bonds of this issue are redeemable prior to their maturity at the option of the Board of Trustees, either in whole or in part, on any interest payment date on and after, but not prior to April 1, 1971, in the inverse order m which thev mature, 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; April April April April 1, 1, 1, 1, Period of Redemption 1971 through October 1, 197S 1976 through October 1, 1930 1981 through October 1, 1985..... 1986 and thereafter without premium. Applicable Premium 3% 2% 1%

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 when this hond or any of the bonds of this issue shall 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 issue 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 Student Services Building Bond Fund as provided in the Resolution; which revenues are to be derived from (1) the operation of Ihe revenue producing facilities constructed, completed and equipped with the proceeds of this bond issue and (2) student service charges (as defined in the Resolution) for the use of the facilities. This bond and the issue 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 alt 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 American National Bank and Trust Company of Chicago, or its successor, as Registration Agent in the City of Chicago, Illinois, upon surrender and cancellation of this bond and thereupon coupon Donds or a n«' 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 issue are issuable as coupon bonds registrable as to principal only in the denomination of $1,000 and as registered bonds without CMpons in the denomination of $1,000 or a multiple thereof. Each fully register bond without coupons shall be of a single maturity. The coupon bonds and the rfS* istered bonds without coupons are interchangeable for bonds of the same inters rate and maturity upon presentation thereof for such purpose by the holder o