509

480

principal and interest, including any prepayments of instalments of
principal, shall be noted on the Payment Record made a part of this
bond and written notice of the notation of such payment on the Pay-
ment Record shall be given promptly to the Treasurer of the Board
without presentation or surrender hereof, and the Board shall be
fully discharged of its obligation on this bond to the extent of the pay-
ment so made. Upon final payment this bond shall be surrendered to
the Board for cancellation.

This bond is a temporary bond issued in lieu of definitive coupon
bonds of the denomination of $1,000 each and aggregating in principal
amount the amount of this temporary bond. At the request of the
registered owner the Board will, within ninety (90) days after its
receipt of such request, cause to be prepared and delivered in exchange
for this temporary bond, at the place designated by the registered owner
and without expense to the registered owner, definitive coupon bonds in
an aggregate principal amount equal to the principal amount of this
temporary bond then unpaid, having maturities corresponding to the
maturities of the instalments of principal of this temporary bond then
unpaid and of the same Series and bearing interest at the same rate,
and upon such exchange all coupons appertaining to the definitive
coupon bonds and representing interest theretofore paid shall be
detached and cancelled. Until so exchanged this temporary bond shall
in all respects be entitled to the same benefit of the Resolution herein-
after mentioned as the definitive coupon bonds to be issued hereunder.

This bond shall not be deemed to constitute a debt of the State of
North Carolina or a pledge of the faith and credit of the State, but shall
be payable as to both principal and interest solely from the special fund
provided therefor as hereinafter set forth.

This bond is one of a duly authorized issue of bonds of the Board,
all of like date, aggregating Seven Million Twenty-nine Thousand Dollars
($7,029,000) and designated "The University of North Carolina at Chapel
Hill Dormitory System Revenue Bonds of 1963" (hereinafter called the
"1963 bonds") and issued in Series as follows:

$1,647,000 Series A bonds (hereinafter called the "1963
Series A bonds"), numbered 1-A to 1,647,000-A, inclusive,
and maturing in annual instalments in the years 1964 to
1994, inclusive;

$305, 000 Series B bonds (hereinafter called the "1963 Series
B bonds"), numbered 1-B to 305-B, inclusive, and maturing
in annual instalments in the years 1964 to 1970, inclusive;

$533,000 Series C bonds (hereinafter called the "1963 Series
C bonds"), numbered 1-C to 533-C, inclusive, and maturing
in annual instalments in the years 1971 to 1979, inclusive;

$1,000,000 Series D bonds (hereinafter called the "1963 Series
D bonds"), numbered 1-D to 1,000-D, inclusive, and maturing
in annual instalments in the years 1980 to 1991, inclusive;

$1,000,000 Series E bonds (hereinafter called the "1963 Series
E bonds"), numbered 1-E to 1,000-E, inclusive, and maturing
in annual instalments in the years 1992 to 2000, inclusive; and

$2,544,000 Series F bonds (hereinafter called the "1963 Series
F bonds"), numbered 1-F to 2,544-F, inclusive, and maturing
in annual instalments in the years 1967 to 2003, inclusive;

issued for the combined purpose of refunding the University of North
Carolina Dormitory Revenue Bonds - Series 1956 (hereinafter called
the "1956 bonds") outstanding in the amount of $1,647,000 and the
University of North Carolina Dormitory Revenue Bonds of 1960,
Series A, B and C (hereinafter called the "1960 bonds"), outstanding
in the amount of $2,838,000 and, with other available funds, paying the
cost of a new dormitory, with necessary appurtenant facilities, to house
approximately 925 men students (hereinafter called the "Project") at
The University of North Carolina at Chapel Hill (hereinafter called the
"Chapel Hill campus").

All of the 1963 bonds are issued or to be issued under and