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Caption: Board of Trustees Minutes - 1948
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8o8 BOARD OF TRUSTEES [September 26 shall be redeemable as a whole prior to their maturity on any interest payment date at the option of said Board of Trustees of the University of Illinois on or after October 1, 1949, and up to and including April I, 1953, at par and accrued interest and a premium of two per cent of the principal amount thereof. Bonds numbered 286 to 425, inclusive, maturing on October 1 of each year, beginning with October 1, 1954, up to and including October 1, 1957, shall be redeemable prior to maturity on any interest payment date at the option of the Board of Trustees of the University of Illinois as a whole or in part through operation of the sinking fund on or after October 1, 1953 and until maturity at par and accrued interest and a premium of one per cent of the principal amount thereof; provided, however, that if bonds numbered 286 to 425, inclusive, are called in part through the operation of the sinking fund, they shall be called and redeemed in the inverse order of their maturities. That is to say, bonds maturing on October 1, 1957 shall be called and paid before any bonds maturing October I, 1956 and so on. If sinking fund moneys arc on hand sufficient to redeem some, but not all of said bonds of any maturity at any time when such bonds become redeemable pursuant to the terms of this ordinance, the said bonds to be redeemed shall be designated by lot in any usual manner by the depositary hereinafter mentioned. Notice of redemption of any or all of said bonds shall be given by publication at least once not less than thirty days prior to the date of redemption, such publication to be made once in one newspaper published and of general circulation in the City of Chicago, Illinois, and such notice of redemption shall, with substantial accuracy ( a ) designate the date and place of redemption, such place to be at the office of the Depositary hereinafter mentioned in the City of Chicago and State of Illinois; and (b) designate the numbers and the aggregate principal amount of such bonds; and (c) state that on the designated date of redemption said bonds will be redeemed by payment of principal thereof and the accrued interest thereon to date of redemption, plus the applicable redemption premium, and that from and after the designated redemption date interest in respect of all bonds so called for redemption shall cease. SECTION 3. Any of said bonds may be registered as to principal at any time prior to maturity in the name of the holder on the books of registration of said University to be kept in the office of the Depositary hereinafter mentioned, such registration to be noted on the reverse side of the bonds by the said Depositary as registrar. After such registration no transfer of such bonds shall be valid unless made on the said books by the registered owner in person or by his duly authorized attorney and similarly noted on such bonds. Upon presentation of any of such bonds registered as to principal, accompanied by a written instrument of transfer satisfactory to the Depositary hereinafter mentioned, executed by the registered owner, or by a duly authorized attorney, such bond shall be transferred upon such books. The registered owner of any such bond registered as to principal shall also have the right to cause the same to be discharged from registration by transfer to bearer, in which case transferability by delivery shall be restored, and thereafter the principal of such bond when due shall be payable to the person presenting such bond. Any such bond registered as payable to bearer may be registered again in the name of the owner with the same effect as the first registration thereof. Successive registrations and transfers as aforesaid may be made from time to time as desired. Registration of any of such bonds shall not affect the negotiability of the coupons thereto attached, but such coupons shall be transferable by delivery merely and payable to the bearer thereof. Said bonds shall be signed by the President and two members of the Board of Trustees of the University of Illinois, sealed with the corporate seal of said University, attested by the Secretary of said Board, and the interest coupons attached to said bonds shall be authenticated by the facsimile signature of the Treasurer of the University of Illinois. SECTION 4. That said bonds and coupons, and form for registration, shall be in substantially the following form:
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