university of illinois - UIHistories Project

1957] UNIVERSITY OF ILLINOIS 323
JOHN NUVEEN & Co. 135 SOUTH LASALLE STREET,
Established 1898 • Incorporated 1953 CHICAGO 3, ILLINOIS
Telephone Financial 6-2500
March 5, 1957
THE BOARD OF TRUSTEES OF THE UNIVERSITY OF ILLINOIS
Hlini Center, LaSalle Hotel
Chicago, Illinois
GENTLEMEN:
Supplementing our proposal dated March 5, 1957, to purchase $3,750,000 Men's
Residence Halls Revenue Bonds of 1957, Series A, of the Board of Trustees of the
University of Illinois, Urbana, Illinois, and in accordance with the provision therein,
we submit herewith a separate schedule indicating the price for each maturity at
which the bid was submitted:
Amount
$40,000
45,000
45,000
45,000
50,000
50,000
S5,ooo
55,000
55,000
60,000
60,000
65,000
70,000
70,000
75,ooo
75,000
80,000
85,000
85,000
90,000
'aturity
i960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
Price Bid
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
98.667
98.667
98.667
98.667
98.667
98.667
98.667
Amount
$ 95,°o°
100,000
105,000
105,000
110,000
115,000
120,000
125,000
130,000
135,000
145,000
150,000
155,000
165,000
170,000
180,000
190,000
200,000
Maturity
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
Price Bid
98.667
98.667
98.667
98.667
98.667
98.667
98.667
98.667
98.667
98.667
98.667
98.667
98.667
98.667
98.667
98.667
98.667
94.034825
This schedule may be considered as a part of our offer to purchase the above mentioned
Residence Halls Revenue Bonds. Yours very truly,
JOHN NUVEEN & Co. AND ASSOCIATES
By: J. DAVID EVERARD of John Nuveen & Co,
The Executive Committee approved the sale of the Series A bonds to John
Nuveen & Co. and Associates on the basis of their bid which represents the lowest
interest cost to the University.
The Vice-President and Comptroller recommends that funds in Housing Division
reserves be advanced to finance construction costs until the bonds are delivered,
which will be approximately May 1, 1957. The Executive Committee concurs.
On motion of Mrs. Watkins, the action of the Committee was
confirmed and the advance of necessary funds from Housing Division
reserves to finance construction costs until funds from the bond issue
are available was authorized by the following vote: Aye, Mr. Bissell,
Mr. Herrick, Mrs. Holt, Mr. Hughes, Mr. Johnston, Mr. Livingston,
Mr. Nickell, Mr. Swain, Mrs. Watkins; no, none; absent, Mr. Stratton,
Air. Williamson.
RESOLUTION AUTHORIZING MEN'S RESIDENCE HALLS
REVENUE BONDS OF 19S7
Mr. Livingston presented the following:
RESOLUTION authorizing the issue of Men's Residence Hall Revenue Bonds
°' I0 57, of the Board of Trustees of the University of Illinois in the principal