Repository: UIHistories Project: Board of Trustees Minutes - 1976 [PAGE 690]

EXTRACTED TEXT FROM PAGE:

1976]

UNIVERSITY OF ILLINOIS

679

ing, and all persons seeking to attend or vote at such meeting in person or by proxy shall, if required, produce such further proof of Bond ownership or personal identity as shall be satisfactory to the University. All proxies presented at any meeting shall be delivered to the inspectors of votes and filed with the University. SECTION 9.04. Amendments by Written Consent of Bond Holders. T h e University may at any time adopt a valid resolution amending the provisions of the Bonds or of this Resolution or of any resolution supplemental hereto, to the extent that such an amendment is permitted by the provisions of Section 9.01, to take effect when and as provided in this Section. A copy of such resolution, together with a request of the University to Bond holders for their consent thereto, shall be mailed by the University to each registered owner of Bonds and notice of the adoption thereof shall be published in the manner provided in Section 9.02 for the mailing and publication referred to in that Section (but failure to mail copies of such resolution and request shall not affect the validity of the resolution when assented to as in this Section provided). Such resolution shall not be effective unless and until there shall have been filed with the University the written consents of the percentage of holders of outstanding Bonds specified in Section 9.01. Each such consent shall be effective only if accompanied by proof of ownership of the Bonds for which such consent is given, which proof shall be such as is permitted by Section 9.03. Any such consent shall be binding upon the holder of the Bonds giving such consent and on any subsequent holder of such Bonds (whether or not such subsequent holder has notice thereof). SECTION 9.05. Supplemental Resolutions or Amendments without Consent of Bond Holders. T h e Board of Trustees may from time to time and at any time, subject to the conditions and restrictions in this Resolution contained, but without requiring the consent of the holders of any of the Bonds, adopt a resolution or resolution supplemental hereto, which shall thereafter form a part hereof for any one or more or all of the following purposes: (a) To add to the covenants and agreements of the University in this Resolution contained, other covenants and agreements thereafter to be observed and/or to surrender any right or power herein reserved to or conferred upon the Board of Trustees; (b) T o clarify any ambiguity or to clarify, correct, or supplement any defect or inconsistent provision contained in this Resolution or any resolution supplemental hereto; and (c) To provide for the issuance of additional Bonds hereunder upon the terms and conditions in this Resolution specified. SECTION 9.06. Endorsement of Bonds. Bonds delivered after the effective date of any action taken as provided in this Article Nine may bear a notation by endorsement or otherwise in form approved by the University as to such action, and in that case upon demand of the holder of any Bond outstanding at such effective date and presentation of his Bond for the purpose at the office of the Comptroller of the University a suitable notation shall be made on such Bond by the University as to any such action. If the University shall so determine, new Bonds so modified as to conform to such action shall be prepared and delivered, and upon demand of the holder of any Bond then outstanding shall be exchanged at the office of the Comptroller of the University, without cost to any Bond holder, for Bonds then outstanding, upon surrender of such Bonds with all unmatured coupons, if any, a p pertaining thereto. SECTION 9.07. Exclusion of Bonds. Bonds owned or held by or for the account of the University shall not be deemed outstanding for the purpose of any vote or consent or other action or any calculation of outstanding Bonds in this Article provided for, and shall not be entitled to vote or consent or take any other action in this Article provided for.