Repository: UIHistories Project: Board of Trustees Minutes - 1958 [PAGE 56]

EXTRACTED TEXT FROM PAGE:

1956]

UNIVERSITY OF ILLINOIS

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in an amount less than $1,000 shall be credited to the Bond and Interest Sinking Fund Account. SECTION 12. The provisions of this resolution shall constitute a contract between T h e Board of Trustees of the University of Illinois and the holders of the bonds herein authorized to be issued, and after the issuance of the bonds no changes, additions, alterations, or amendments of any kind shall be made to this resolution in any manner, except with the consent of the holders of sixty-five per cent ( 6 5 % ) of the outstanding bonds, until such time as all of said bonds issued hereunder, and interest thereon, shall be paid in full, or unless and until provision shall have been made for the payment of all bonds hereby authorized and interest thereon in full. SECTION 13. Any holder of a bond or bonds, or of any of the coupons of any bond or bonds, issued under the provisions of this resolution, may either in law or in equity, by suit, action, mandamus, or other proceeding, enforce or compel the performance of all duties required by this resolution or the acts under which the bonds hereby authorized are issued, including the fixing, maintaining, and collecting of such rents, charges, and fees for the use of such properties and all facilities thereof, as well as establishing parietal rules and regulations thereto, as will be sufficient for all the purposes provided by this resolution, and the application of income and revenue therefrom. SECTION 14. If any section, paragraph, clause, or provision of this resolution 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 the President, Secretary, Comptroller, and Treasurer of The Board of Trustees of the University of Illinois, be and they are each of them hereby authorized and directed to execute all instruments, papers, documents, and agreements necessary or convenient to accomplish the issue and delivery of the said Revenue Bonds to the purchasers thereof. SECTION 16. That said revenue bonds shall be executed as provided herein as soon after this resolution becomes effective as may be, and be deposited with the Treasurer of said University. Bonds designated as " A " bonds shall be by him delivered to White, Weld & Co., Chicago, Illinois, the purchasers thereof, upon receipt of the purchase price, and the contract for the sale thereof heretofore entered into be and the same is hereby in all respects ratified and approved. Bonds designated as " B " bonds shall be delivered by the Treasurer of said University to The Federal Reserve Bank of Chicago upon receipt of the purchase price in accordance with the provisions of the Loan Agreement between the Housing and Home Finance Agency and the University, dated August 1, 1956. SECTION 17. T h a t this resolution shall be in full force and effect from and after its passage. Passed Recorded Attest: President, Board of Trustees Secretary STATE OF ILLINOIS \ COUNTY O F CHAMPAIGN} , 1956. , 1956.

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I, A. J. Janata, 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 T h e Board of Trustees of the University of Illinois, and as such official I further certify that he foregoing resolution attached hereto, entitled