Pages That Need Review
Volume 09: June 17, 1964–February 28, 1966
489
We therefore provide that we the Trustees together with the administration of the Institution shall be held responsible and accountable for visiting speakers on our campuses. And to that end the administration will adopt rules and precautionary measures consistent with the policy herein set forth regarding the invitations to and appearance of visiting speakers. These rules and precautionary measures shall be subject to the approval of the Trustees.
In addition, the Executive Committee of the Board of Trustees has adopted the following procedures which shall apply in such cases:
Each Chancellor, when he considers it appropriate, will require any or all of the following: (a) That a meeting be chaired by an officer of the University or a ranking member of the faculty;
(b) That speakers at the meeting be subject to questions from the audience;
(c) That the opportunity be provided at the meeting or later to present speakers of different points of view.
All existing statutes relating to visiting speakers will be followed. Only officially recognized student organizations may use campus facilities to present speakers.
In order to provide the Chancellors with an opportunity to exercise the responsibilities imposed upon them by Trustee regulations respecting visiting speakers, the following procedures will be observed prior to extending an invitation to any visiting speaker covered by G.S. 116-199:200.
1. The officers of a recognized student club or society, desiring to use University facilities for visiting speakers, will consult with the club's faculty advisor concerning prospective speakers.
2. The head of the student organization will submit to the Chancellor a request for reservation of a meeting place along with the follow-information:
(a) Name of sponsoring organization, and topic. (b) Name and biographical data of the proposed speaker. (c) Request for particular data and place of meeting. (d) Statement of faculty adviser's opinion as to the competence of the speaker to deal with his topic.
3. Upon receipt of the above, the Chancellor will refer the proposed invitation to a joing student-faculty committee on visiting speakers for advise.
4. Upon receipt of their advice, the Chancellor may consult other constituted advisers prior to making a decision.
On motion of Mr. Noble, seconded by Mr. Barber, the foregoing rules and regulations were unanimously adopted.
Mr. Bryant proposed that an additional paragraph be added to the Speaker Policy Regulations adopted at the January 14th meeting of the Executive Committee, to be designated as No. 7.
After some discussion, Mr. Bryant then moved that the Chair appoint a committee of three to discuss proposal No. 7 with President Friday and report to the full Board meeting on F ebruary 28th. This motion carried, and Governor Moore appointed Messrs. Bryant, Barber and Maynard.
498
The Board of Trustees of The University of North Carolina, a body politic and corporate under the name of the "University of North Carolina" (herein sometimes called the "Board") for value received, hereby promises to pay, solely from the special fund provided therefor as hereinafter set forth, to the bearer or, if this bond be registered, to the registered owner hereof, on the 1st day of July, 19. . . , upon the presentation and surrender hereof, the principal sum of
ONE THOUSAND DOLLARS
AND TO PAY, SOLELY LROM SAID SPECIAL FUND, INTEREST THEREON FROM the date hereof at the rate of . . . . . . . . . . . . . . . . . . . . . per centum ( . . . . . . %) per annum until payment of such principal sum, such interest to the maturity hereof being payable semi-annually on the 1st days of January and July in each year upon the presentation and surrender of the attached coupons representing such interest as the same respectively become due. Both the principal of and the interest on this bond are payable in any coin or currency which on the respective dates of payment thereof is legal tender for the payment of debts due the United States of America. The principal of this bond and the interest hereon are payable at Wachovia Bank and Trust Company, in the City of Charlotte, North Carolina, or, at the option of the holder or registered owner, at First National City Bank, in the Borough of Manhattan, City and State of New York.
This bond shall not be deemed to constitute a debt or liability of the State of North Carolina or of any political subdivision thereof, and neither the faith and credit nor the taxing power of the State or of any political subdivision or instrumentality thereof is pledged for the payment of the principal of or the interest on this bond. Neither the State nor the Board shall be obligated to pay this bond or the interest thereon except from the special fund provided therefor from revenues as hereinafter set forth.
This bond is one of a duly authorized issue of $552,000 bonds of the Board (herein called the "bonds"), all of like date, known as "Charlotte College Student Center Improvement Bonds of 1964", consisting of Series A bonds maturing in annual instalments in the years 1967 to 1994, inclusive, and Series B bonds maturing in annual instalments in the years 1995 and 1996, issued for the purpose of providing funds for paying the cost of an addition to the existing student union-cafeteria building known as the College Union Building and herein called the "Existing Student Center", with necessary appurtenant facilities including but not limited to a snack bar, student meeting and committee rooms, and game and recreation area (herein called the "Project"), at The University of North Carolina at Charlotte (formerly Charlotte College and herein sometimes called the "Charlotte campus").
All of the bonds are issued under and pursuant to a resolution duly adopted by the Board on February 28, 1966 (said resolution of the Board with all resolutions amendatory thereof or supplemental thereto as therein permitted being herein collectively called the "Resolution"). 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 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 pursuant to the Constitution and laws of the State of North Carolina, including Sections 116-187 to 116-198, inclusive, of the General Statues of North Carolina. The Resolution provides for fixing, charging and collecting from each enrolled student at The University of North Carolina at Charlotte a Student Center Fee to the extent provided in the Resolution, which Student Center Fee, together with the fees, rents and charges for the use of and for the services furnished or to be furnished by the Existing Student Center as enlarged by the Project (the Existing Student Center as so enlarged being herein called the "Enlarged Student Center"), shall be sufficient, with any other available funds, to pay the cost of maintaining, repairing and operating the Enlarged Student Center, including reserves for such purpose, and to pay the principal of and the 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 "Charlotte College Student Center Improvement Revenue Bonds of
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1964 and Interest Sinking Fund Account" (herein called the "Bond and Interest Sinking Fund Account") and for the deposit to the credit of said special fund of a sufficient amount of the revenues of the Enlarged Student Center, including said Student Center Fee, 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.
Series A bonds numbered 112 to 512, inclusive, maturing July 1, 1975 to July 1, 1994, inclusive, maybe redeemed prior to their respective maturities, at the option of the Board, from any moneys that may be made available for such purpose, either in whole or in part in the inverse order of their numbers, on any interest payment date after July 1, 1974, at the principal amount of the bonds to be redeemed, together with the interest accrued thereon to the date fixed for redemption, plus a premium of 3% of such principal amount if redeemed on or prior to July 1, 1977, 2-1/2% if redeemed thereafter and on or prior to July 1, 1980, 2% if redeemed thereafter and on or prior to July 1, 1983, 1-1/2% if redeemed thereafter and on or prior to July 1, 1986, 1% if redeemed thereafter and on or prior to July 1, 1989, and without premium if redeemed thereafter. Series A bonds numbered 1 to 111, inclusive, maturing July 1, 1967 to July 1, 1974, inclusive, shall not be subject to redemption.
Series B bonds numbered 1 to 40, inclusive, maturing July 1, 1995 and July 1, 1996, may be redeemed prior to their respective maturities, at the option of the Board, from any moneys that may be made available for such purpose, either in whole or in part in the inverse order of their numbers, on any interest payment date after July 1, 1974, at the principal amount of the bonds to be redeemed, together with the interest accrued thereon to the date fixed for redemption, plus a premium of 3% of such principal amount if redeemed on or prior to July 1, 1977, 2-1/2% if redeemed thereafter and on or prior to July 1, 1980, 2% if redeemed thereafter and on or prior to July 1, 1983, 1-1/2% if redeemed thereafter and on or prior to July 1, 1986, 1% if redeemed thereafter and on or prior to July 1, 1989, and without premium if redeemed thereafter.
Notwithstanding any of the foregoing provisions, if the United States of America or any agency thereof is the holder of any Series A or Series B bonds, 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.
No purchase or redemption of Series A bonds shall be made unless all of the Series B bonds shall have theretofore been retired or shall simultaneously therewith be called for redemption.
Any such redemption, either in whole or in part, shall be made upon at least thirty (30) days' prior notice by publication and otherwise as provided in the Resolution and shall be made in the manner and under the terms and conditions provided in the Resolution; provided, however, that notice by publication shall not be required for the redemption of any bonds held by the United States of America or any agency thereof. On the date designated for redemption, notice having been given and moneys for payment of the redemption price being held in trust for such purpose, all as provided in the Resolution, the bonds so called for redemption shall become and be due and payable at the redemption price provided for redemption of such bonds on such date, interest on the bonds so called for redemption shall cease to accrue, coupons for any such interest after such date shall be void, such bonds shall cease to be entitled to any lien, benefit or security under the Resolution, and the holders of such bonds shall have no rights in respect thereof except to receive payment of the redemption price thereof.
This bond may be registered as to principal alone in accordance with the provisions endorsed hereon and subject to the terms and conditions set forth in the Resolution.
Under the authority of said Sections 116-187 to 116-198 of the General Statutes of North Carolina, this bond shall have all the qualities and incidents of and shall be deemed to be a negotiable instrument under the laws of the State of North Carolina, subject to the provisions for registration endorsed hereon and contained in the Resolution, and, subject to such provisions, nothing contained in this bond or in the Resolution shall affect or impair the negotiability of this Bond.
Volume 01: July 11, 1932–July 8, 1938
4/11/33 - Reg. Exec
95
OFFICE OF THE GOVERNOR RALEIGH, N. C. APRIL 11, 1933.
The Executive Committee of the Board of Trustees of the University of North Carolina met at eleven o'clock a. m. on the above date with the following present: Governor Ehringhaus, who presided, and
Josephus Daniels Haywood Parker Charles Whedbee Walter Murphy Clarence Poe Leslie Weil Mrs. Julius W. Cone Miss Easdale Shaw
President Frank Graham was also present.
A letter was read from Mr. S. B. Alexander expressing regret at his inability to be present, due to absence from the State.
Mr. Daniels, Chairman, made an informal report for the Committee on Reorganization. He stated that sub committees had been appointed to make a study and report on the separate University Units as follows: Messrs. Whedbee and Tucker on the Chapel Hill Unit; Messrs. McLean and Poe on the State College Unit and Mr. Tillett and Mrs. Cone on the N. C. C. W. Unit, the report on this latter unit being already completed. Mr. Murphy moved that the report on the N. C. C. W. Unit be withheld until the other reports were ready and all made at one time to a meeting of the Executive Committee to be called by the Governor in May.
Mr. Daniels further stated that the Committee on Reorganization recommended that a comptroller for the greater University be elected at once so that plans might be made for a centralized fiscal control.
Governor Ehringhaus expressed gratification that a beginning was being made on the consolidation program.
President Graham recommended the name of Mr. Chas. T. Woollen for comptroller of the greater University. Mr. Murphy moved that Mr. Woollen be elected comptroller, his salary to remain the same as at present to the end of the fiscal year, June 30th next. Seconded by Dr. Poe and unanimously carried.
Mrs. Cone moved that the comptroller submit to the Executive Committee, as soon as practicable, his recommendations as to the plan of business set-up for the three units. Seconded and carried.
The Secretary called attention to the recent death of Rt. Rev. Junius H. Horner, Episcopal Bishop, of Asheville, a member of the Board of Trustees. The Governor appointed the following committee to prepare suitable resolutions to be presented at the next meeting of the Board. Messrs. Kemp P. Lewis, A. A. Hicks and Mrs. E. L. McKee.
The recommendation of the President Graham that a six weeks summer school be held at Raleigh and Greensboro each and a full summer school at Chapel Hill for this year was approved.
Mr. H Parker moved that it was the sense of the Executive Committee that the summer meeting of the full Board of Trustees be held in Raleigh, the date to be set by the Governor prior to June 4, the beginning of the N. C. C. W. Commencement. Carried.
President Graham presented Mr. Schaub, Dean of Agriculture, and Mr. T. E. Browne, Dean of Vocational Education at State College, who stated that they were unofficially advised that the Director of the Federal Budget had rcommended to the President the withdrawal of federal funds appropriated to agriculture and vocational education, etc., and expended through State College as follows:
Land Scrip Fund ---------------------------- $ 33,000.00 Agricultural Experiment Station------------- 90,000.00 Agricultural Extension---------------------- 363,152.11 Teaching Home Economics and Agriculture and Industrial School classes------------- 288,000.00
Total----------------- $ 774,152.11
Governor Eringhaus read a telegram addressed to President Roosevelt requesting that he give most serious consideration before withdrawing the above funds. He stated that he was also requestign the cooperation of Senators Bailey and Reynolds.
On recommendation of President Graham, acceptance was given to an offer by the Northwester Yeast Company of Chicago to establish a fellowship at State College of $600.00 a year for two years with an appropriation of $1,000.00 for a building for research.
The meeting then adjourned.
[siganture] Secretary.
6/3/33 - Reg. B/T
99
OFFICER OF THE GOVERNOR Raleigh, N. C., June 3, 1933.
The Board of Trustees of the University of North Carolina met at 10:30 a. m. on the above date, Governor J. C. B. Ehringhaus presiding, with the following present:
John W. Aiken S. B. Alexander A. T. Allen A. B. Andrews Dudley Bagley K. D. Battle Jno. D. Beatty, Jr. J. L. Becton M. K. Blount Jas. A. Bridger Mrs. J. A. Brown Chas. F. Cates Annie M. Cherry W. G. Clark John W. Clark Hayden Clement F. H. Coffey Mrs. Julius W. Cone H. G. Connor, Jr., R. M. Cox Wm. R. Dalton Jno. G. Dawson A. M. Dixon R. A. Doughton Frank L. Dunlap R. R. Eagle Crayon C. Efird R. O. Everett A. D. Folger J. M. Gamewell A. H. Graham Harry P. Grier, Jr.
Junius D. Grimes William T. Hannah R. L. Harris John Sprunt Hill John W. Hinsdale Chas. A. Jonas R. E. Little H. M. London G. L. Lyerly J. T. Mangum I. M. Meekins Wm. D. Merritt Cameron Morrison Walter Murphy Harriss Newman Haywood Parker John J. Parker E. S. Parker, Jr. Clarence Poe Chas. G. Rose Miss Easdale Shaw L. M. McIver Scott Fred I. Sutton C. W. Tillett, Jr. May L. Tomlinson Irvin B. Tucker Geo. R. Ward Leslie Weil Charles Whedbee Francis D. Winston J. F. Spruill W. C. Woodard
President Frank P. Graham and Comptroller Chas. T. Woollen were also present.
Letters were read from the following trustees expressing regret at their inability to be present:
Ex-Gov. O. Max Gardner Rev. Chas. E. Maddry H. D. Bateman
Isaac P. Davis W. D. Faucette Stahle Linn
The minutes of the meeting of the trustees of January 24,1933, and of the Executive Committee of April 11 and June 2, 1933, were read and approved.
The Secretary read the following report of the Escheator , which on motion was received:
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ratified April 21, 1933, and entitled "An Act to Authorize the Trustees of the University to construct and finance an athletic stadium for North Carolina State College, out of funds other than general revenue of the State," The University of North Carolina (hereafter referred to as the "University") was authorized to borrow a sum not exceeding $50,000, for the purpose of enlarging and improving the athletic stadium facilities on the grounds of the North Carolina State College of Agriculture and Engineering of The University of North Carolina (hereinafter referred to as "State College"), and was also authorized to pledge, appropriate and pay such sums , out of the athletic receipts of State College, as may be required to repay the money so borrowed, with interest thereon, it being expressly provided in said act that no part of the payments for the principal or interest charges on said loan shall be met out of the general revenues of the State of North Carolina, and
WHEREAS, by resolution adopted on June 3, 1933, the Board of Trustees of the University approved an application to the Reconstruction Finance Corporation for a loan of $40,000, pursuant to the said act, and it is deemed advisable to make furtner provision with respect to said loan: NOW THEREFORE,
BE IT RESOLVED, by the Board of Trustees of the University of North Carolina :
1. That, pursuant to the said act ratified April 21,1933, there shall be borrowed by the University, from the Reconstruction Finance Corporation, the sum of $40,000, for the purpose of building an athletic stadium on the campus of State College, at Raleigh.
2. That bonds of the University of North Carolina, payable exclusively from the special fund hereinafter referred to, shall be issued for the money so borrowed, in order to evidence the indebtedness so incurred.
3. That the said bonds shall be coupon bonds of the denomination of $1,000 each, dated June 1, 1933, and payable serially, as follows, vix.: One bond on December 1st in each of the years 1933 to 1937, inclusive, two bonds on December 1st in each of the years 1938 to 1947, inclusive, and three bonds on December 1st in each of the years 1948 to 1953, inclusive. The bonds shall bear interest from their date at the rate of five and onehalf per centum (5½%) per annum, payable semi-annually on
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June 1st and December 1st. The principal and interest shall be payable at the Bankers Trust Company, in the City of New York, or, at the office of the State Treasurer in Raleigh, at the option of the holder, in such funds as are then legal tender.
4. That said bonds shall be Issued in substantially the following form:
No..... UNITED STATES OF AMERICA $1,000
THE UNIVERSITY OF NORTH CAROLINA
ATHLETIC STADIUM BOND
The University of North Carolina, a body politic and corporate, for value received, hereby promises to pay to the bearer, solely from the special fund hereinafter referred to, the sum of
ONE THOUSAND DOLLARS ($1,000)
on the first day of December, 19..., with interest from the date
of this bond, at the rate of five and one-half per centum (5½%) per annum, payable semi-annually on June 1st and December 1st in each year, upon presentation and surrender of the annexed interest coupons as they severally fall due. Both principal and interest of this bond are payable at the Bankers Trust Company, in New York City, or at the office of the State Treasurer, in Raleigh, at the option of the holder thereof, solely out of a special fund, known as the Athletic Stadium Fund, created by a resolution adopted by the Board of Trustees of the University of North Carolina on July 10, 1933, and derived exclusively from athletic receipts; and the said bonds are not a debt of the State of North Carolina or of the University of North Carolina, and neither the State nor the University is liable thereon, except that the University agrees to pay certain athletic receipts into said special fund, as provided in said resolution, and to apply the moneys in said fund to the payment of said principal and interest.
This bond is one of an issue of not exceeding forty bonds of like date and tenor, except as to maturity, numbered from 1 to 40, inclusive, issued pursuant to an act of the General Assembly of Notth Carolina entitled "An Act to Authorize the Trustees of the University of North Carolina to Construct and Finance an Athletic Stadium for North Carolina State College out of funds other than General
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Revenues of the State", ratified April 21, 1933.
It is hereby certified and recited that all conditions, acts and things required by the Constitution or Statutes of the State of North Carolina to exist, be performed or happen precedent to or in the issuance of this bond, exist, have been performed and have happened.
IN WITNESS WHEREOF, The University of North Carolina has caused this bond to besigned by its Chairman and its corporate seal to be hereunto affixed and attested by, and the annexed interest coupons to be executed and the facsimile signature of said secretary, and this bond to be dated June 1, 1933.
____________________________ Governor of North Carolina and ex-officio Chairman of the Board of Trustees of the University of North Carolina
Attest:
_____________________ Secretary
(Form of Coupon)
No..... $27.50
June
On the first day of December, 19...The University of North Carolina will pay to the bearer, solely from the special fund known as the Athletic Stadium Fund,
TWENTY-SEVEN AND 50/100 DOLLARS ($27/50)
at the Bankers Trust Company, in New York City, or, at the State Treasurer's office, in Raleigh, at the option of the holder, said sum being six months' interest then due on its Athletic S Stadium Bond No...dated June 1, 1933.
______________________ Secretary
5. That the Chairman and Secretary of the Board of Trustees of the University are hereby authorized to execute said bonds and to deliver them to the Reconstruction Finance Corporation, either all at one time, or from time to time upon payment of the par value of the bonds so delivered, plus accrued interest from, the
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date of the bonds to the date of their maturity.
6. That there is hereby created and established a special fund to be known as the Athletic Stadium Fund, which fund is to be used solely for the purpose of paying the principal and interest of said bonds. Not less than ten days before the date on which any interest or principal of said bonds falls due, there shall be paid into said special fund a sum sufficient to meet such interest or principal. The StateTreasurer of North Carolina shall be custodian of such special fund. The gross athletic revenues of State College, including gate receipts of the stadium and students' athletic fees, are hereby pledged for the purpose of making the said payments to said special fund.
The following resolution, carrying out the conditions of the Bond Purchase Contract, was also adopted, on motion of Mr. Whedbee, duly seconded, by the affirmative vote of all members present:
"BE IT RESOLVED, that to the extent permitted by law, the Board of Trustees of the University of North Carolina hereby undertakes and agrees with the Reconstruction Finance Corporation, as an inducement to said Corporation to loan $40,000 to the University of North Carolina upon bonds this day authorized, that, so long as any of said bonds are outstanding, the students' fees charged for athletic purposes by the North Carolina State College of Agriculture and Engineering shall be so fixed in each year by the North Carolina State College of Agriculture and Engineering as to produce revenue at least equal to twice the bond service charges for each year, and also that no other stadium shall be constructed in Raleigh, North Carolina by the the University of North Carolina or by the North Carolina State. College of Agriculture and Engineering."
Mr. Murphy moved that the Vice-President of the State College branch be authorized, in connection with the Secretary of the Board of Trustees to sign the contract with the Southeastern Construction Company, of Charlotte, N. C., for the construction of the stadium, on the basis of bids as received, when the contract has been approved by the Attorney General of North Carolina. This motion was seconded by Mr. Whedbee and carried, all members present voting affirmatively.