Repository: UIHistories Project: Board of Trustees Minutes - 1950 [PAGE 903]

EXTRACTED TEXT FROM PAGE:

894

BOARD OF TRUSTEES

[September 29

aforesaid a distance of 85.05 feet, thence in a southerly direction along a line making an angle on the East of 150° 29' with line aforesaid a distance of 227.30 feet, thence in an easterly direction along a line making an angle on the Northeast of 88° 39' with line aforesaid a distance of 156.33 feet, thence in a southerly direction along a line making an angle on the North of 270° 01' with line aforesaid a distance of 34.5 feet, thence in an easterly direction along a line making an angle on the Northeast of 90° 00' with line aforesaid a distance of 78.33 feet, thence in an easterly direction along a line making an angle on the North of 176° 34' with line aforesaid a distance of 145.00 feet, thence in a northwesterly direction along a line making an angle on the Northwest of 90° 00' with line aforesaid a distance of 70.13 feet, thence in a northeasterly direction along a line making an angle on the West of 200° 39' with line aforesaid a distance of 133.52 feet, thence in a northeasterly direction along a line making an angle on the West of 215° 49' with line aforesaid a distance 322.75 feet, thence in an easterly direction along a line making an angle on the North of 216° 43' with line aforesaid a distance of 70.00 feet to a point 30 feet West of the East line of the Northwest Quarter of Section 20 aforesaid, thence in a northerly direction along a line 30 feet from and parallel to section line aforesaid a distance of 359-95 feet to the point of beginning, all in Champaign County, Illinois", said bonds being dated October 1, 1949, and maturing as follows: Principal A mount $ 4,000 6,000 6,000 7,000 7,000 8,000 8,000 8,000 8,000 8,000 9,000 9,000 9,000 10,000 10,000 10,000 10,000 10,000 10,000 18,000 Bond Numbers 1- 4 incl 5-10 " 11- 16 " 17- 23 " 24- 30 " 31-38 " 39- 46 " 47- 54 " 55- 62 " 63- 70 " 71- 79 " 80- 88 " 89- 97 " 98-107 " 108-117 " 118-127 " 128-137 " 138-147 " 148-157 " 158-175 " Maturity Dates October I, 1950 October 1, 1951 October 1, 1952 October 1, 1953 October 1, 1954 October 1, 1955 October 1, 1956 October 1, 1957 October 1 1958 October I 1959 October 1 i960 October 1 1961 October I 1962 October 1 1963 October 1 1964 October 1 1965 October 1 1966 October 1 1967 October 1 1968 October 1 1969

Bonds numbered I to 46, inclusive, bearing interest at the rate of two and one-half per cent ( 2 ^ % ) per annum, bonds numbered 47 to 175. inclusive, bearing interest at the rate of two and three-fourths per cent (254%) per annum, interest payable April 1, 1950, and semi-annually thereafter on the first days of April and October in each year, said bonds being redeemable as a whole or in part in the inverse order in which they are numbered, prior to their maturity, on any interest payment date on or after October 1, 1952 and up to and including April 1, 1954, at par and accrued interest and a premium of three per cent ( 3 % ) of the principal amount thereof, a premium of two per cent ( 2 % ) of the principal amount thereof if redeemed on October I, 1954, or on any interest payment date thereafter up to and including April 1, 1959, and a premium of one per cent ( 1 % ) of the principal amount thereof if redeemed on October I, 1959, or on any interest payment date thereafter before maturity. Notice of redemption shall be given by publication at least once not less than thirty days prior to date of redemption, such publication to be made once in one newspaper published and of general circulation in the City of Chicago, Illinois; and W H E R E A S the said bonds are payable both as to principal and interest and premium, if any, solely from the net revenues to be derived from the operation