Repository: UIHistories Project: Board of Trustees Minutes - 1948 [PAGE 819]

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BOAKD OF TRUSTEES

[September 26

full, or unless and until provision shall have been made for the payment of all bonds hereby authorized and interest thereon in full. SECTION 13. Any holder of a bond or bonds, or any of the coupons of any bond or bonds issued under the provisions of this resolution, may either in law or in equity, by suit, action, mandamus or other proceeding, enforce or compel the performance of all duties required by this resolution or the Act under which the bonds hereby authorized are issued, including the fixing, maintaining and collecting of such charges and fees for the use of such building as will be sufficient for all the purposes provided by this resolution, and the application of income and revenue therefrom. SECTION 14. If any section, paragraph, clause or provision of this resolution shall be held invalid, the invalidity of such section, paragraph, clause or provision shall not affect any of the other provisions of this resolution. SECTION 15. That said revenue bonds shall be executed as soon after this resolution becomes effective as may be, be deposited with the Treasurer of said University, and be by him delivered to Julien Collins and Company, and White, Weld & Co., the purchasers thereof, upon receipt of the purchase price, the contract for the sale thereof heretofore entered into be and the same is hereby in all respects ratified and approved. Any accrued interest or premium derived from the sale of said bonds shall be deposited in the sinking fund hereinabove provided and applied toward payment of interest or principal of said bonds as thereby required. SECTION 16. This resolution shall be in full force and effect from and after its passage. Passed Recorded day of day of , 1947. , 1947.

ATTEST: Secretary

President, Board of Trustees

STATE OF ILLINOIS ) ,-c COUNTY OF CHAMPAIGN! 5 S ' I, H. E. Cunningham, do hereby certify that I am the duly qualified and acting Secretary of the Board of Trustees of the University of Illinois, and as such official have charge and custody of the minutes of the meetings and records of the Board of Trustees of said University of Illinois, and as such official I further certify that the foregoing resolution attached hereto, entitled "Resolution authorizing and providing for the termination of an existing trust between the University of Illinois Foundation, a corporation duly organized under the laws of the State of Illinois, and the Board of Trustees of the University of Illinois, and to reacquire the interest in the Illini Union Building conveyed to said Foundation pursuant to said existing trust, and authorizing the issue of $425,000 Illini Union Building Revenue Bonds for the purpose of defraying the cost of terminating said trust and reacquiring the interest in said property conveyed pursuant to said trust, prescribing all the details of said bonds, and providing for the collection, segregation and distribution of the revenues of said Illini Union Building for the purpose of paying the cost of maintenance and operation of said building, and payment of the principal of and interest on said revenue bonds," is a true, correct and exact copy of the original resolution adopted by the Board of Trustees of the University of Illinois at its regular meeting held on the day of , 1947. I N W I T N E S S W H E R E O F , I hereunto set my hand and the seal of said University of Illinois this day of , 1947. Secretary, Board of Trustees, University of Illinois