510

OverviewVersionsHelp

Facsimile

Transcription

Status: Complete

481

pursuant to a resolution duly adopted by the Board on February 24, 1964
(said resolution of the Board with all resolutions amendatory thereof or
supplemental thereto as therein permitted being herein collectively called
the "Resolution"). The Resolution provides for the issuance from time
to time under the conditions, limitations and restrictions therein set forth
of additional bonds (such additional bonds and the 1963 bonds being herein
collectively called the "bonds") to pay the cost of acquiring or construct-
ing Additional Facilities (hereinafter mentioned). Reference is hereby
made to the Resolution for the provisions, among others, with respect to
the custody and application of the proceeds of the bonds, the collection and
disposition of revenues, the fund charged with and pledged to the payment
of the interest on and the principal of the bonds, the nature and extent of
the security, the terms and conditions under which the bonds of each series
are or may be issued, the rights, duties and obligations of the Board and
the rights of the holders of the bonds, and, by the acceptance of this bond,
the holder hereof assents to all of the provisions of the Resolution.

This bond is issued and the Resolution was adopted under and pur-
suant to the Constitution and laws of the State of North Carolina, including
Sections 116-187 to 116-198 of the General Statutes of North Carolina.
The resolution provides for fixing, charging and collecting fees, rents
and charges for the use of and for the services furnished or to be
furnished by The University of North Carolina at Chapel Hill Dormitory
System (hereinafter called the "Dormitory System"), comprising the
following, exclusive of any snack bars, coin operated machines, recreational
facilities, dining halls or cafeterias therein: (i) the dormitories known as
Avery Hall, Parker Hall and Teague Hall and the addition to the existing
dormitory known as Spencer Hall financed by the issuance of the 1956
bonds, (ii) the dormitories known as Craige Hall and Ehringhaus Hall
and the addition to the existing dormitory known as the Nurses' Dormitory
financed by the issuance of the 1960 bonds, (iii) certain dormitories
heretofore constructed at the Chapel Hill campus and referred to in the
Resolution as "Existing Dormitories", (iv) the Project, and (v) any
additions or improvements to the Dormitory System financed by the issuance
of bonds under the provisions of the Resolution or any part of the revenues
of which shall be pledged to the payment of bonds issued under the provisions
of the Resolution, which fees, rents and charges shall be sufficient, with
other available funds, to pay the cost of maintaining, repairing and opera-
ting the Dormitory System, including reserves for such purpose, and to
pay the principal of and interest on the bonds as the same shall become
due and to provide reserves therefor. The Resolution provides for the
creation of a special fund designated "The University of North Carolina at
Chapel Hill Dormitory System Bond and Interest Sinking Fund Account of
1963" (hereinafter called the "Dormitory System Bond and Interest Sinking
Fund Account of 1963") and for the deposit to the credit of said special
fund of a sufficient amount of the revenues of the Dormitory System, over
and above the cost of such maintenance, repair and operation thereof, to
pay the principal of and the interest on the bonds then outstanding as the
same shall become due and to provide a reserve for such purpose, and
said special fund is pledged to and charged with the payment of such
principal and interest.

(Here insert the terms of redemption applicable to
this Series. )

Notwithstanding any of the foregoing provisions, if the United States
of America or any agency thereof holds any bonds of this Series, all such
bonds so held may be redeemed in the inverse order of their numbers on
any interest payment date prior to their respective maturities and without
the payment of any redemption premium.

The temporary bond is subject to redemption as provided above for
the corresponding definitive coupon bonds, except that any redemption in
part shall be in the inverse order of the maturitie dates of the instalments
of principal of this temporary bond.

The moneys in the Dormitory System Bond and Interest Sinking Fund
Account of 1963 available for the purchase or redemption of bonds shall
be allocated to all series of bonds outstanding under the Resolution in the
manner provided in the Resolution.

Notes and Questions

Nobody has written a note for this page yet

Please sign in to write a note for this page