| |
| |
Caption: Board of Trustees Minutes - 1964
This is a reduced-resolution page image for fast online browsing.
EXTRACTED TEXT FROM PAGE:
1048 BOARD OF TRUSTEES ARTICLE TWO 1964 SERIES A AND 1964 [February 19 SERIES B BONDS AND THE ISSUANCE T H E R E O F SECTION 2.1. Project H and Purpose of Issue of Bonds. T h e project (hereinafter designated "Project H " ) to be acquired, constructed, equipped and completed pursuant to this Seventh Supplemental Resolution is described in a general way a s : A residence hall, consisting of two housing buildings and a connecting lounge, to be located at 909 South Fifth Street in Champaign, Illinois, for approximately 465 single graduate students, sometimes known as Graduate Residence Halls # 3 ; plus acquisition by purchase of eight improved properties located on Fifth Street and Chalmers Street, immediately south of Graduate Residence Halls # 3 , to be used as student residence halls and apartments for approximately 68 students. T h e estimated cost of said Project H is $4,100,000 exclusive of land on which Graduate Residence Halls # 3 is to be located. The estimated cost of each portion of said Project H is more fully set forth in the plans and specifications therefor on file with the Comptroller of the University. It is hereby determined that in order to produce the funds necessary to construct and equip Project H that the University borrow the sum of $4,100,000 and in evidence thereof to issue its Housing Revenue Bonds hereunder in said principal amount. All redemptions shall be made in the manner, upon the notice, and with the effect provided in Article Three of the Original Resolution, provided that if registered 1964 Series A Bonds and 1964 Series B Bonds without coupons are to be redeemed in part only, such redemption shall be made in amounts of $5,000 or a multiple thereof and in selecting Bonds for redemption by lot the Trustee shall make such selection in such manner as may be deemed by it proper to the end that all 1964 Series A Bonds and 1964 Series B Bonds remaining outstanding after giving effect to such partial redemption shall be in denominations of $5,000 or multiples thereof. SECTION 2.2. Terms of 1964 Series A Bonds and 1964 Series B Bonds. There is hereby created and authorized two additional series of Bonds to be issued under the Resolution as supplemented by this Seventh Supplemental Resolution to be substantially in the form and of the tenor and purport hereinafter set forth and limited to the aggregate principal amount of Four Million One Hundred Thousand Dollars ($4,100,000) at any one time outstanding, One Million Four H u n d r e d Forty Thousand ($1,440,000) of which shall be designated " T h e Board of Trustees of the University of Illinois Housing Revenue Bonds of 1964, Series A" (hereinafter called "1964 Series A Bonds") and T w o Million Six Hundred Sixty Thousand ($2,660,000) of which shall be designated " T h e Board of Trustees of the University of Illinois Housing Revenue Bonds of 1964, Series B " (hereinafter called "1964 Series B Bonds"). T h e 1964 Series A Bonds and the 1964 Series B Bonds shall be issued as negotiable coupon Bonds dated April 1, 1964, registrable as to principal in the demonination of $5,000 or as fully registered Bonds without coupons, dated as of the interest payment date to which interest was last paid, next preceding the date of issue, unless issued on an interest payment date on which interest was paid, in which case they shall be dated as of the date of issue, or unless issued prior to October 1, 1964, in which case they shall be dated April 1, 1964. Each fully registered Bond without coupons shall be of a single maturity. Fully registered Bonds without coupons shall be numbered in such manner satisfactory to the Trustee as may be designated by the Comptroller and shall be issued in denominations of $5,000 or multiples thereof, shall bear interest from April 1, 1964, payable semiannually on the first days of April and October in each year until paid, commencing October 1, 1964, at the rates provided below and shall mature in the following amounts on October 1 of the following years:
| |
