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$155, 000 of bonds maturing in the years 1974 through 1977 at 3-1/4% per annum; and $178, 000 of bonds maturing in the years 1978 through 1981 at 3.40% per annum.
The bid of the United States of America requested that as to all bonds awarded to the United States of America there be issued a single non-negotiable temporary bond in the amount of the bonds so awarded and registered as to principal and interest, exchangeable within 90 days after notice for definitive coupon bonds in the denomination of $1, 000.
After due consideration of said bids a resolution entitled "RESOLUTION AWARDING $2, 000, 000 NORTH CAROLINA STATE COLLEGE OF AGRICULTURE AND ENGINEERING OF THE UNIVERSITY OF NORTH CAROLINA DORMITORY REVENUE BONDS - SERIES 1961" was introduced, and Mr. Umstead moved that it be adopted. Mr. Taylor seconded the motion for adoption, and the resolution was adopted by the unanimous vote of all members present, as follows:
Voting "Aye": Mrs. Lathrop, Mrs. Parker, Messrs. Pearsall, Hill, Umstead, Barber, Taylor, Noble, Wicker, Maynard and Bryant.
Voting "Nay": None.
The Chairman thereupon declared said resolution unanimously adopted and the Secretary was instructed to record it in the minutes of the Board. Said resolution is in the following words and figures, to-wit:
RESOLUTION AWARDING $2, 000, 000 NORTH CAROLINA STATE COLLEGE OF AGRICULTURE AND ENGINEERING OF THE UNIVERSITY OF NORTH CAROLINA DORMITORY REVENUE BONDS - SERIES 1961
BE IT RESOLVED by the Executive Committee of the Board of Trustees of The University of North Carolina, as follows:
Section 1. Notice was duly published calling for sealed bids to be received by the Board of Trustees of The University of North Carolina, acting by its Executive Committee, at the Governor's Office, State Capitol Building, in Raleigh, North Carolina, until 10:30 o'clock A.M. , Eastern Standard Time, September 10, 1962, for $2, 000, 000 North Carolina State College of Agriculture and Engineering of the University of North Carolina Dormitory Revenue Bonds - Series 1961 of the Board of Trustees of The University of North Carolina, at which hour bidding was closed and the following bids were found to have been filed and to accord in all respects with the terms of said notice:
Bid of the United States of America, acting by and through the Housing and Home Finance Agency, offering to pay par value and accrued interest for all of the blocks of said bonds offered bearing interest at the rate of 3 1/2% per annum.
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Bid of J. Lee Peeler Company, Inc. , offering to pay $236, 000 and accrued interest for the block of said bonds maturing in the years 1964 through 1971 bearing interest as follows: $ 81, 000 of bonds maturing in the years 1964 through 1966 at 4-1/2% per annum; and $155, 000 of bonds maturing in the years 1967 through 1971 at 3% per annum;
and offering to pay $403, 000 and accrued interest for the block of said bonds maturing in the years 1972 through 1981 bearing nterest as follows: $ 70, 000 of bonds maturing in the years 1972 and 1973 at 4-1/4% per annum; $155, 000 of bonds maturing in the years 1974 through 1977 at 3-1/4% per annum; $178, 000 of bonds maturing in the years 1978 through 1981 at 3.40% per annum;
The bid of the United States of America requested that as to all bonds awarded to the United States of America there be issued a single non-negotiable temporary bond in the amount of the bonds so awarded and registered as to principal and interest, exchangeable within 90 days after notice for definitive coupon bonds in the denomination of $1, 000.
Section 2. It is hereby determined that the bid of J. Lee Peeler & Company, Inc. , offering to pay $236, 000 and accrued interest for the block of said bonds maturing in the years 1964 through 1971 bearing interest as follows: $ 81,000 of bonds maturing in the years 1964 through 1966 at 4-1/2% per annum; and $155, 000 of bonds maturing in the years 1967 through 1971 at 3% per annum;
and offering to pay $403, 000 and accrued interest for the block of said bonds maturing in the years 1972 through 1981 bearing interest as follows: $ 70, 000 of bonds maturing in the years 1972 and 1973 at 4-1/4% per annum; $155, 000 of bonds maturing in the years 1974 through 1977 at 3-1/4% per annum; and $178, 000 of bonds maturing in the years 1978 through 1981 at 3.40% per annum,
offers to purchase said blocks of bonds at an interest cost to the Board lower than the interest cost bid by the United States of America and that the acceptance of said bid is for the best interests of the Board. Said bid therefore is hereby accepted and said bonds maturing in the years 1964 through 1971, aggregating $236, 000, and said bonds maturing in the years 1972 through 1981, aggregating $403, 000, and bearing interest at the rates set forth above in this Section, respectively, for said bonds, are hereby awarded to said J. Lee Peeler & Company, Inc. , at the respective prices set forth above in this Section, and said bonds shall bear interest at said rates.
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