Repository: UIHistories Project: Board of Trustees Minutes - 1948 [PAGE 992]

EXTRACTED TEXT FROM PAGE:

1948]

UNIVERSITY OF ILLINOIS

991

by the Secretary of said Board, and the coupons hereto attached to be authenticated by the facsimile signature of the Treasurer of said University, and this bond to be dated the first day of March, 1948. President, Board of Trustees, University of Illinois Member, Board of Trustees, University of Illinois Member, Board of Trustees, University of Illinois

ATTEST: Secretary, Board of Trustees, University of Illinois

(Form of Coupon) Number $ On the first day of , 19 * (unless the within mentioned bond has theretofore been called for payment, as therein provided, and payment made or provided for), the University of Illinois will pay to bearer solely from the special fund referred to in the said bond to which this coupon is attached, Dollars ($ ) in lawful money of the United States of America at The First National Bank of Chicago, in the City of Chicago, Illinois, being interest then due on its Men's Residence Halls Revenue Bond of 1948, dated March 1, 1948, Number Treasurer, University of Illinois

• The clause within the parentheses to be inserted in all coupons maturing after optional date of bonds to which they are attached.

(Form of Registration) Date of Registration In Whose Name Registered Signature of Registrar

SECTION 5. That upon the issuance of any revenue bonds herein provided for there be and there is hereby established a fiscal year for the operation of said Men's Residence Halls located at 1215 South Fourth Street, in the City of Champaign and said fiscal year shall commence the first day of July of each year and end the last day of the next succeeding June and all revenues derived from the operation thereof shall be set aside as collected and kept separate and apart from any other funds of said University, and said University covenants that all the revenues, income, receipts, profits, rates, rents, charges, fees and returns derived from the said Men's Residence Halls and the operation thereof, after setting aside therefrom the reasonable cost of operating, maintaining, insuring, and repairing said Men's Residence Halls, shall be paid over to the Depositary hereinafter mentioned semi-annually not later than the dates as hereinafter specified in the said deposit agreement prior to March I and September 1 of each year, and said revenues so paid over to the Depositary shall be used only in paying the fees and expenses of such Depositary, principal of and interest upon the revenue bonds of said University that are payable by their terms only from such revenues, and such