180

168

$1,942,000, and, with other available funds, paying the cost of thirteen new apartment buildings, with appurtenant facilities, to house approximately 84 married student families, at the University of North Carolina, in Chapel Hill, North Carolina.

The bonds of said issue of $2,942,000 will be special obligations of the Board of Trustees of The University of North Carolina, secured by:

A first lien on and pledge of the net revenues of said thirteen new apartment buildings and the thirty-four apartment buildings, with appurtenant facilities, at the University for which the University of North Carolina Student Apartments Revenue Bond, Series 1958, No. T-1, was issued.

Definitive coupon Series A bonds numbered 786 to 1,000, inclusive, maturing September 1, 1998 to September 1, 2002, inclusive, maybe redeemed on any interest payment date 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, at the principal amount of the bonds to be redeemed, together with the interest accrued thereon to the date fixed for redemption, without the payment of any redemption premium. Subject to the prior redemption of such bonds, definitive coupon Series A bonds numbered 119 to 785, inclusive, maturing September 1, 1973 to September 1, 1997, inclusive, 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 September 1, 1972, 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 September 1, 1977, 2 1/2% if redeemed thereafter and on or prior to September 1, 1982, 2% if redeemed thereafter and on or prior to September 1, 1987, 1 1/2% if redeemed thereafter and on or prior to September 1, 1992, and 1% if redeemed thereafter. Definitive coupon Series A bonds numbered 1 to 118, inclusive, maturing September 1, 1965 to September 1, 1972, inclusive, shall not be subject to redemption. Notwithstanding any of the foregoing provisions, if the United States of America or any agency thereof holds any of such bonds, all such bonds so held may be redeemed in the inverse order of their numbers on any