Repository: UIHistories Project: Board of Trustees Minutes - 1976 [PAGE 669]

EXTRACTED TEXT FROM PAGE:

658

BOARD OF TRUSTEES

[June 16

Said Resolution, among other things, provides for the issuance of additional bonds pursuant thereto in the manner and upon the terms and conditions more fully set forth therein. The bonds of this series are redeemable prior to their maturity at the option of the Board of Trustees, either in whole or in part on any interest payment date on or after, but not prior to April 1, 1986, in the inverse order in which they mature, at the principal amount thereof, together with interest accrued to the date of redemption plus a premium equal to the following percentages of such principal amount if redeemed during the following periods respectively: Applicable Premium Period of Redemption (Percent) April 1, 1986, through October 1, 1987 4 April 1, 1988, through October 1, 1989 3 April 1, 1990, through October 1, 1991 2 April 1, 1992, through October 1, 1993 1 April 1, 1994, and thereafter without premium Notice of redemption of any or all of said bonds shall be published once a week for two successive calendar weeks, the first such publication to be not less than thirty days prior to the date of redemption, such publication to be made in one daily newspaper printed in the English language and published and of general circulation in the City of Chicago, Illinois, and also in a financial newspaper printed in the English language and published and of general circulation in the Borough of Manhattan, City and State of New York, and when this bond or any of the bonds of such authorized issue shall have been duly called for redemption, interest thereon shall cease from and after the specified redemption date if redemption monies are available for the payment of all bonds called for redemption. This bond and the series of which it forms a part is issued under the authority of T h e Board of Trustees of the University of Illinois to issue and sell revenue bonds under the provisions of paragraphs 48.1 through 48.7 of Chapter 144 of the Illinois Revised Statutes, 1975, and all laws amendatory thereof and supplemental thereto and the Resolution above referred to. This bond is payable, both as to principal and interest, only from the revenues required to be credited to the Medical Center Parking Revenue Bond Fund as provided in the Resolution; which revenues are to be derived from (1) the operation of the revenue-producing facilities constructed, completed, and equipped with the proceeds of this bond issue and the proceeds of additional bonds which may hereafter be issued pursuant to the Resolution, (2) the operation of any other revenueproducing facilities which may subsequently be pledged pursuant to any supplemental resolution creating or authorizing additional bonds to be issued pursuant to the Resolution, (3) the operation of all other University owned or leased parking lots or spaces located in the Medical Center District, or the immediate vicinity thereof, and serving the Medical Center Campus, and (4) up to $137,500 annually of Hospital Revenues (as defined in the Resolution) authorized by law to be retained in the University treasury, plus such additional sums as may be specified in any supplemental resolution creating or authorizing additional bonds to be issued pursuant to the Resolution as so supplemented. This bond and the series of which it forms a part do not constitute an indebtedness of said University of Illinois, T h e Board of Trustees of the University of Illinois, or the State of Illinois within any constitutional or statutory limitation, and neither the taxing power nor the general credit of said University, of said Board of Trustees, or the State of Illinois is pledged to the payment of this bond or the interest thereon. This bond shall pass by delivery unless it is registered as to principal in the name of the holder on the books of registration of said University kept at the office