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Caption: Board of Trustees Minutes - 1976
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656 BOARD OF TRUSTEES [June 16 side of Taylor Street between Paulina Street and Marshfield Avenue in the City of Chicago. The estimated cost of said Project (exclusive of land) is $4,500,000 all as more fully set forth in the plans and specifications therefor on file in the Office of Campus Services of the University of Illinois at the Medical Center, 828 South Wolcott, Chicago, Illinois. It is hereby determined that in order to produce the funds necessary to construct and equip the Project the University borrow the sum of $4,500,000 and in evidence thereof issue its Medical Center Parking Revenue Bonds hereunder in said principal amount. SECTION 2.03. Terms of Series 1976 Bonds. There is hereby created and authorized a series of Bonds to be issued hereunder which shall be substantially in the form and of the tenor and purport hereinafter set forth, to be designated "The Board of Trustees of the University of Illinois Medical Center Parking Revenue Bonds, Series of 1976" (hereinafter called "Series 1976 Bonds") and shall be limited to the aggregate principal amount of $4,500,000 at any one time outstanding. T h e Series 1976 Bonds shall be issued as negotiable coupon bonds dated April 1, 1976, registrable as to principal in the denomination of $5,000 or as fully registered Bonds without coupons, dated as of the interest payment date to which the interest was last paid, next preceding the date of issue, unless issued on an interest payment date on which interest was paid, in which case they shall be dated as of the date of issue, or unless issued prior to October 1, 1976, in which case they shall be dated April 1, 1976. Each fully registered Bond without coupons shall be of a single maturity. Fully registered Bonds without coupons shall be numbered in such manner as may be designated by the Comptroller and shall be issued in denominations of $5,000 or multiples thereof. Bonds shall bear interest from April 1, 1976, payable semiannually on the first days of April and October in each year until paid, commencing October 1, 1976, at the rates provided below and shall mature in the following amounts on October 1 of the following years: Interest Interest iaturity Principal Rate Maturity Principal Rate Dates Amount (Percent) Dates Amount (Percent) 1979 $185 000 7.50 $ 45 000 7.75 1991 1980 70 000 7.75 1992 200 000 7.10 1981 75 000 7.75 1993 220 000 7.25 1982 80 000 7.75 240 000 7.25 1994 7.25 1983 90 000 7.75 1995 265 000 1984 7.75 7.25 100 000 1996 285 000 1985 7.40 110 000 7.75 1997 310 000 1986 115 000 7.50 1998 340 000 7.40 1987 130 000 7.50 1999 365 000 7.40 1988 140 000 7.50 2000 395 000 7.40 1989 7.50 7.40 155 000 2001 415 000 1990 7.50 170 000 (Total) $4 500 000 T h e Series 1976 Bonds shall be redeemable, either in whole or in part, prior to their maturity at the option of the Board of Trustees on any interest payment date on and after, but not prior to April 1, 1986, in inverse order in which they mature, at the principal amount thereof, together with the interest accrued thereon to the date fixed for redemption plus a premium of the following percentages of such principal amount if redeemed during the following periods respectively:
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