university of illinois - UIHistories Project

326 BOARD OF TRUSTEES [March 12
1971; three per cent (3%) of the principal amount thereof if redeemed April 1,
1972, through October 1, 1976; two per cent (2%) of the principal amount thereof
if redeemed April I, 1977, through October I, 1981; one per cent (1%) of the
principal amount thereof if redeemed on April 1, 1982, through October i, 1986;
no premium if redeemed on April I, 1987, or on any interest payment date thereafter
prior to maturity. If funds are available to call and redeem some but not
all of the said bonds of any maturity, the bonds to be called for redemption shall
be selected by lot in any commonly followed manner.
Notice of redemption of any or all of said bonds shall be given by publication
at least once not less than thirty days prior to the date of redemption, such publication
to be made once in one newspaper published and of general circulation
in the City of Chicago and also in a financial journal published in the English
language in the City and State of New York, and such notice of redemption shail
with substantial accuracy (a) designate the date and place of redemption, such place
to be at the American National Bank and Trust Company of Chicago, in the City
of Chicago, Illinois, or at the option of the holder thereof at the Chemical Corn
Exchange Bank, in the City of New York, New York, and (b) designate the numbers
and the aggregate principal amount of said bonds, and (c) state that on the
designated date of redemption said bonds will be redeemed by payment of principal
thereof and accrued interest thereon to date of redemption, plus the applicable
redemption premium, and that from and after the designated redemption date
interest in respect of all bonds so called for redemption shall cease.
That such bonds and coupons shall be payable to bearer; provided, however,
that such bonds may be subject to registration as to principal at any time prior to
maturity in the name of the holder thereof on the books of registration of said
University to be kept in the Chicago Business Office of said University, such
registration to be noted on the reverse side of the bonds by the Vice President and
Comptroller of said University and thereafter the principal of such bonds shall be
payable only to the registered holder, his legal representative or assign. Such
registered bonds shall be transferred to another registered holder or back to bearer
only upon presentation to the Vice President and Comptroller with a legal assignment
duly acknowledged or approved. Registration of any such bonds shall not
affect the negotiability of the coupons thereto attached, but such coupons shall be
transferable by delivery merely.
SECTION 3. That both principal of and interest on such revenue bonds shall he
payable in any coin or currency which, on the respective dates of payment of such
principal and interest, is legal tender for the payment of debts due the United
States of America, at the American National Bank and Trust Company of Chicago,
in the City of Chicago, Illinois, or at the option of the holder, at the Chemical
Corn Exchange Bank, in the City of New York, New York.
SECTION 4. That said bonds shall be executed for and on behalf of The Board
of Trustees of the University of Illinois by its President and by Timothy W
Swain and Frances B. Watkins, who are members thereof, and attested by the
Secretary thereof, under the seal of the University of Illinois, and the interest
coupons attached to said bonds shall be executed by the facsimile signatures of said
President and Secretary, who by the execution of said bonds shall adopt as and
for their own proper signatures their respective facsimile signatures appearing on
said coupons, and said bonds and coupons shall be in substantially the following
form:
(Form of Bond)
UNITED STATES OF AMERICA
STATE OF ILLINOIS
THE BOARD OF TRUSTEES OF THE UNIVERSITY OF ILLINOIS
MEN'S RESIDENCE HALLS REVENUE BOND OF 1957
( Series )
NUMBER $1,000
THE BOARD OF TRUSTEES OF THE UNIVERSITY OF ILLINOIS,
a body corporate, created and established under the laws of the State of Illinois,
for value received promises to pay to bearer, but only out of the Men's Residence