Repository: UIHistories Project: Board of Trustees Minutes - 1950 [PAGE 1112]

EXTRACTED TEXT FROM PAGE:

no4

BOARD OF

TRUSTEES

[April 19

a premium of one and one-half per cent (itf%) of the principal amount thereof if redeemed on April 1, 1955, or on any interest payment date thereafter up to and including October 1, 1958, and a premium of one per cent (1%) of the principal amount thereof if redeemed on April 1, 1959, or on any interest payment date thereafter before maturity. 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 anytime 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 signatures of the President and Secretary of the Board of Trustees of the University of Illinois. SECTION 4. That said bonds and coupons, and form for registration, shall be in substantially the following form: (Form of Bond) U N I T E D STATES OF A M E R I C A STATE OF I L L I N O I S U N I V E R S I T Y OF I L L I N O I S S T U D E N T - S T A F F A P A R T M E N T S (SECOND U N I T ) R E V E N U E B O N D Number #1,000.

K N O W ALL M E N BY T H E S E P R E S E N T S , that the University of Illinois, a body corporate and politic, for value received, hereby promises to pay to bearer, or if this bond be registered as hereinafter provided, then to the registered holder hereof, solely from the special fund of said University, as hereinafter mentioned, and not otherwise, the principal sum of One Thousand Dollars ($1,000) on .., 19. .., and to pay interest on said sum from the date hereof until paid at the rate of per cent ( %) per annum, payable October I, 1950, and semi-annually thereafter on the first days of April and October in each year, until maturity hereof, in accordance with and upon