440

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Section 12. Interest payable upon said bonds during the
period of construction of the said dormitory buildings shall be
paid from the proceeds of the grant made by the Federal Emergency
Administration of Public Works in aid of the project.

Section 13. The proper officers are hereby authorized to
execute said bonds, and the State Treasurer is hereby authorized
to sell and deliver said bonds.

After discussion of the proposal submitted by Controller Woollen
to increase the application now pending before PWA for extending
the power plant at Chapel Hill, Mr. Tucker moved the adoption
of the following Resolution:

A RESOLUTION AUTHORIZING THE UNIVERSITY OF NORTH CAROLINA TO FILE
AN APPLICATION TO THE UNITED STATES OF AMERICA THROUGH THE FEDERAL
EMERGENCY ADMINISTRATION OF PUBLIC WORKS FOR A GRANT TO AID IN
FINANCING ELECTRIC POWER AND HEATING PLANT IMPROVEMENTS AND
DESIGNATING FRANK P. GRAHAM, PRESIDENT, AND CHAS. T. WOOLLEN,
CONTROLLER, TO FURNISH SUCH INFORMATION AS THE GOVERNMENT MAY REQUEST.

Be it resolved by the Executive Committee of the Board of Trustees
of the University of North Carolina:

Section 1. That Frank P. Graham, President, and Chas. T.
Woollen, Controller, be and they are authorized to execute and file
an application on behalf of The University of North Carolina to the
United States of America for a grant to aid in financing the construc-
tion of electric power and heating plant improvements.

Section 2. That Frank P. Graham, President, and Chas. T.
Woollen, Controller, be and they are hereby authorized and directed
to furnish such information as the United States of America through
the Federal Emergency Administration of Public Works may reasonably
request in connection with the application which is herein authorized
to be filed.

This Resolution was seconded by Mr. Whedbee and was adopted
by unanimous vote of all members present.