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forth this Resolution in full, and such further documents or proofs in connection with the acceptance of said offer as may be requested by the Federal Emergency Administration of Public Works.
The above resolution was seconded by Mr. Leslie Weil, and was adopted, with the following voting aye: Haywood Parker, Miss Easdale Shaw, Irvin B. Tucker, Chas. Whedbee, Clarence Poe, Laura Weil Cone, and Leslie Weil; and the following voting nay: None.
The Chairman thereupon declared said Resolution carried and the Secretary thereupon signed said Resolution in approval thereof.
Mrs. Cone then moved the adoption of the following Resolution:
RESOLVED: That Frank P. Graham, President, and Chas. T. Woollen, Controller, be authorized to sign the acceptance agreement and other communications with the United States Government relating to his grant offer under dockets Nos. N.C. 1148 and N.C. 1317, to receive Bids and to award and sign contracts for the construction included in these dockets, and to solicit such additional funds as may be required for the University's share of the total cost.
The adoption of the Resolution was seconded by Mr. Poe, and was adopted with all members present voting aye.
At this point a Resolution entitled: A RESOLUTION AUTHORIZING THE ISSUANCE OF $178,000 DORMITORY BUILDING REVENUE BONDS OF THE UNIVERSITY OF NORTH CAROLINA, AND PROVIDING FOR THE PAYMENT THEREOF, was introduced by Mr. Whedbee, seconded by Mr. Poe, and was adopted by the following vote: Messrs. Weil, Haywood Parker, Poe, Whedbee, Tucker, Mrs. Cone and Miss Easdale Shaw. Those voting nay: None.
The Chairman thereupon declared said Resolution carried, and the Secretary was ordered to record it in the Minutes of the Committee. The said Resolution referred to is in the following words and figures, to-wit:
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A RESOIUTION AUTHORIZING THE ISSUANCE OF $178,000 DORMITORY BUILDING REV1NUE BONDS OF THE UNIVERSITY OF NORTH CAROLINA, AND PROVIDING FOR THE PAYMENT THEREOF.
WHEREAS, The Executive Committee of the Board of Trustees of the University of North Carolina deems it necessary and expedient to construct two doimitory buildings on the campus of North Carolina State College, at Raleigh; and
WHEREAS, the United States of America, acting through the Federal Emergency Administrator of Public Works, has offered to aid the University of North Carolina in financing the construction of doimitory buildings, by means of a grant in the amount of 45% of the cost of said buildings, upon completion, but not to exceed in any event the sum of $145,636; and
WHEREAS, it is necessary for the University of North Carolina to borrow money and issue Revenue Bonds to supplement said grant, for the purpose of constructing said dormitories: NOW, THEREFORE:
BE IT RESOLVED by the Executive Committee of the Board of Trustees of the University of North Carolina:
Section 1. Pursuant to Chapter 479 of the Public Laws of 1935 of North Carolina, as amended by Chapter 2 of the Public Laws of 1936 and by Chapter 323 of the Public Laws of 1937, there shall be issued bonds of the University of North Carolina in the aggregate principal amount of $178,000, the proceeds of which bonds shall be used for the purpose of constructing two dormitory buildings on the campus of North Carolina State College, at Raleigh, North Carolina, together with appurtenances and equipment therefor, for the use of the University of North Carolina. The said bonds shall be dated August 1, 1938, and shall mature in annual installments, as follows, viz.: $6,000 of bonds on August 1st in each of the years 1940 to 1942, inclusive, $7,000 of bonds on August 1st in each of the years 1943 and 1944, $8,000 of bonds on August 1st in each of the years 1945 to 1948, inclusive, $9,000 of bonds on August 1st in each of the years 1949 to 1952, inclusive, $10,000 of bonds on August 1st in each of the years 1953 and 1954, $11,000 of bonds on August 1st in each of the years 1955 and 1956, and $12,000 of bonds on August 1st in each of the years 1957 to 1959, inclusive.
