Repository: UIHistories Project: Board of Trustees Minutes - 1952 [PAGE 1268]

EXTRACTED TEXT FROM PAGE:

1952]

UNIVERSITY OF ILLINOIS

1365

University of Illinois that it borrow the sum of $1,750,000 to construct, rehabilitate, complete and fully equip the revenue producing buildings, and to refund the outstanding "Men's Residence Halls Revenue Bonds of 1048" of said University in the principal amount of $233,000, all as described in the preambles hereof, located in the Cities of Urbana and Champaign, Illinois, and in evidence thereof issue its revenue bonds in the principal amount of $1,750,000. SECTION 2. That said bonds shall be designated "University of Illinois Urbana-Champaign Residence Halls Revenue Bonds, Series of 1952." T h e said revenue bonds shall bear date of March 1, 1952, shall be numbered I through 1750, shall be of the denomination of $1,000 each, bonds numbered 1 to 915, inclusive, shall bear interest at the rate of three and one-quarter per cent (3%%) per annum, bonds numbered 916 to 1750, inclusive, shall bear interest at the rate of three per cent ( 3 % ) per annum, payable September 1, 1952, and semiannually thereafter on the first days of March and September of each year and until the principal thereof shall have been fully paid, and said bonds shall mature in each of the years and in amounts as follows: Maturity Dates March 1, 1954 September 1, 1954 March 1, 1955 September 1, 1955 March 1, 1956 September 1, 1956 March I, 1957 September 1, 1957 March 1, 1958 September 1, 1958 March 1, 1959 September 1, 1959 March I, i960 September 1, i960 March 1, 1961 September 1, 1961 March 1, 1962 September 1, 1962 March 1, 1963 September 1, 1963 March 1, 1964 September 1, 1964 March 1, 1965 September 1, 1965 March I, 1966 September 1, 1966 March 1, 1967 September 1, 1967 March 1, 1968 Principal Amount #20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 30,000 30,000 30,000 30,000 30,000 Maturity Dates September I, 1968 March 1, 1969 September 1, 1969 March 1, 1970 September 1, 1970 March 1, 1971 September 1, 1971 March 1, 1972 September 1, 1972 March 1, 1973 September 1, 1973 March 1, 1974 September 1, 1974 March 1, 1975 September 1, 1975 March 1, 1976 September 1, 1976 March 1, 1977 September 1, 1977 March 1, 1978 September 1, 1978 March i, 1979 September 1, 1979 March 1, 1980 September 1, 1980 March 1, 1981 September 1, 1981 March I, 1982 Principal Amount #30,000 30,000 30,000 30,000 30,000 30,000 35,000 35,000 35,ooo 35>°o° 35,000 35,ooo 35,ooo 35,ooo 35,000 35,000 40,000 40,000 40,000 40,000 40,000 40,000 40,000 40,000 45,000 45,ooo 45,000 65,000

provided, however, that said bonds shall be redeemable as a whole or in part, prior to their maturity, in the inverse order in which they mature, on any interest payment date at the option of The University of Illinois on or after March 1, 1957, and up to and including September I, i960, at par and accrued interest, and a premium of four per cent ( 4 % ) of the principal amount thereof; at par and accrued interest, and a premium of three per cent ( 3 % ) of the principal amount thereof if redeemed on March 1, 1961, or on any interest payment date thereafter up to and including September I, 1964; at par and accrued interest, and a premium of two per cent ( 2 % ) of the principal amount thereof if redeemed on March I, 1065, or on any interest payment date thereafter up to and including September 1, 1968; at par and accrued interest, and a premium of one per cent ( 1 % ) of the principal amount thereof if redeemed on March I, 1969, or any interest payment date thereafter up to and including September I, 1972; at par and accrued interest if redeemed on March I, 1973, or on any interest payment date thereafter prior to maturity. If funds a r e available to call and redeem some but