Repository: UIHistories Project: Board of Trustees Minutes - 1948 [PAGE 999]

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998

BOARD OF TRUSTEES

[February 21

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 The Milwaukee Company and Associates, the purchaser 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 day of , 1948. Recorded day of , 1948.

ATTEST:

President, Board of Trustees Secretary STATE O F ILLINOIS ) ^ COUNTY OF CHAMPAIGN} S 3 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 Men's Residence Halls, located at 1215 South Fourth Street, in the City of Champaign, Illinois, conveyed to said Foundation pursuant to said existing trust, and authorizing the issue of $400,000 Men's Residence Halls Revenue Bonds of 1948 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 men's residence halls 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

, 1048.

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 , 1948. Secretary, Board of Trustees, University of Illinois

After discussion, and on motion of M r . Williamson, seconded by M r s . Holt, Resolution N o . 1 was adopted as recommended, by the following vote: Aye, Mr. Davis, M r . Fornof, M r s . Holt, Mr. Livingston, Dr. Luken, M r . McKelvey, Dr. Meyer, M r . Williamson; no, none; absent, M r . Green, M r . McLaughlin, M r . Nickell. RESOLUTION NO. 2

RESOLUTION AUTHORIZING THE PRESIDENT, SECRETARY, AND TREASURER OF THE BOARD OF TRUSTEES TO EXECUTE ALL INSTRUMENTS NECESSARY FOR THE REFINANCING OF THE M E N ' S RESIDENCE H A L L S INDEBTEDNESS

Resolved that the President, Secretary, and Treasurer of the Board of Trustees of the University of Illinois, be and they are each and all of them hereby authorized