Repository: UIHistories Project: Board of Trustees Minutes - 1964 [PAGE 1095]

EXTRACTED TEXT FROM PAGE:

1050

BOARD OF TRUSTEES

[February 19

principal and interest, is legal tender for the payment of debts due the United States of America, at The First National Bank of Chicago, or its successor, in the City of Chicago, Illinois, or, at the option of holders at The Chase Manhattan Bank, or its successor, in the Borough of Manhattan and City and State of New York. SECTION 2.4. Form of Bonds. T h e definitive coupon Bonds of 1964 Series A and 1964 Series B, the interest coupons to be attached thereto, and the form of fully registered Bonds without coupons of 1964 Series A and 1964 Series B, shall be in substantially the following form with appropriate insertions, omissions and variations to evidence differences in type of bond, series, number, denomination, interest rate, maturity and like matters: ( F o r m of Coupon Bond) UNITED STATES OF AMERICA STATE OF ILLINOIS T H E BOARD O F TRUSTEES O F T H E UNIVERSITY OF I L L I N O I S H O U S I N G R E V E N U E B O N D O F 1964 (Series ) Number. $5,000 T H E BOARD OF T R U S T E E S OF T H E UNIVERSITY OF ILLINOIS, a body corporate, created and existing under the laws of the State of Illinois, for value received promises to pay to bearer, but only out of the Housing Revenue Bond Fund, as hereinafter provided for, and not otherwise, the principal sum of F I V E T H O U S A N D D O L L A R S ($5,000), on October 1, 19 , and to pay interest on said sum from the date hereof until paid at the rate of per cent ( . % ) per annum, payable October 1, 1964, and semiannually thereafter on the first days of April and October in each year until the principal amount hereof has been fully paid. Interest accruing on this bond on and prior to the maturity date hereof shall be payable on presentation and surrender of the interest coupons hereto attached as they subsequently become due, but no interest shall accrue on this bond after the maturity hereof unless this bond shall be presented for payment and be not then paid. Both principal hereof and interest hereon are hereby made payable in any coin or currency which, on the respective dates of payment of such principal and interest, is legal tender for the payment of debts due the United States of America, at T h e First National Bank of Chicago (hereinafter called "Trustee"), or its successor in trust under the Resolution hereinafter referred to, in the City of Chicago, Illinois, or at the option of the holder, at The Chase Manhattan Bank, in the Borough of Manhattan and City and State of New York. This bond is one of an authorized series of Dollars ($ ) principal amount of Housing Revenue Bonds of 1964, Series , which together with the 1964 Series .„ Bonds constitute an issue of Four Million One H u n d r e d Thousand Dollars ($4,100,000), issued or to be issued pursuant to a Bond Resolution of The Board of Trustees of the University of Illinois duly adopted December 17, 1958, as supplemented by First through Seventh Supplemental Resolutions thereto duly adopted June 23, 1959, October 21, 1959, June 14, 1960, May 17, 1961, May 24, 1962, October 17, 1962, and February 19, 1964, respectively (said Bond Resolution as so supplemented being herein referred to as the "Resolution"), for the purpose of providing funds for paying the cost of construction and equipping student and staff housing and related facilities. Said Resolution, among other things, provides for the issuance of additional bonds pursuant thereto in the manner and upon the terms and conditions more fully set forth therein. T h e bonds of this Series are redeemable prior to maturity as a whole or in part on April 1, 1974, or on any interest payment date thereafter in the inverse order in which they mature at the option of T h e Board of Trustees of the University of Illinois at par and accrued interest to the date of redemption and a premium as follows: Four per cent ( 4 % ) of the principal amount thereof if redeemed April 1, 1974 through October 1, 1978; three per cent ( 3 % ) of the principal amount thereof if redeemed April 1, 1979 through October 1, 1983; two per cent ( 2 % ) of the principal amount thereof if redeemed April 1, 1984 through October 1, 1988; one and one-half per cent {\Vl%) of the principal