Repository: UIHistories Project: Board of Trustees Minutes - 1976 [PAGE 675]

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664

BOARD OF T R U S T E E S

[June 16

a governmental agency, in which case it may be executed in the name of any successor. SECTION 2.06. Bonds of Additional Series. Subject to the conditions and limitations set forth in Article Four hereof and provided that the University shall not at the time be in default under any of the terms, covenants, or provisions of this Resolution, additional Bonds of equal rank with the Series 1976 Bonds may be issued from time to time under this Resolution having such maturities, providing for the payment of such rates of interest and having such other characteristics as shall be determined by the Board of Trustees and set forth in a resolution to be supplemental hereto; provided, however, that each issue of additional Bonds, when so issued, shall be differentiated from all previous issues by appropriate designation inscribed thereon. SECTION 2.07. Execution of Bonds. All of the Bonds shall be executed by the facsimile signatures of the President and any two members of the Board of Trustees and shall have the seal of the University affixed thereto (or a facsimile thereof to be reproduced thereon) and shall be attested by the Secretary of the Board of Trustees, the coupons to be attached to the Bonds shall bear the facsimile signatures of the President and Secretary of the Board of Trustees. In case any person who shall have signed, sealed, or attested any Bond issuable under this Resolution as an officer or member of the Board of Trustees, shall have ceased to be such officer or member before the Bond so signed, sealed, or attested shall have been actually delivered, such Bond nevertheless may be delivered and issued as though the person who signed, sealed, or attested such Bond had not ceased to be such officer or member of the Board of Trustees. Any Bond issuable hereunder may be signed, sealed, or attested on behalf of the Board of Trustees by any person who at the actual date of execution of such Bond is the proper person, although at the date of such Bond such person shall not have been an officer or member of the Board of Trustees. SECTION 2.08. Registration and Transfer of Bonds. The University shall keep at the office of the Registration Agent in Chicago, Illinois, books for the registration and transfer of Bonds issued hereunder, which, at all reasonable times, shall be open for inspection by the holder of any Bond issued hereunder, and upon presentation for the purpose at such office, the University will register or transfer or cause to be registered or transferred herein, as hereinafter provided, and under such reasonable regulations as it may prescribe, any Bonds issued under this Resolution and entitled to be so registered or transferred. The holder of any coupon Bond issued hereunder may have the ownership of the principal thereof registered on said books of the University at the office of the Registration Agent in Chicago, Illinois, and such registration shall be noted on the Bond. After such registration no transfer shall be valid unless made on the said books by the registered owner in person, or by his duly authorized attorney, and similarly noted on the Bond; but the same may be discharged from registration by being in like manner transferred to bearer, and thereupon transferability by delivery shall be restored; and such Bond may again, from time to time, be registered or transferred to bearer as before. Such registration, however, shall not affect the transferability of the coupons, but every such coupon shall continue to be transferable by delivery merely, and shall remain payable to bearer. T h e University shall make no charge for such registrations and discharges from registration. Any registered Bond without coupons may be transferred at the office of the Registration Agent in the City of Chicago, Illinois, by surrender of such Bond for cancellation, accompanied by delivery of a written instrument of transfer in form approved by the Comptroller, duly executed by the registered owner of such Bond or his duly authorized attorney, and thereupon the University shall issue in the name of the transferee or transferees a new registered Bond or Bonds of like form and maturity and for a like aggregate principal sum.