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$1,800,000 The University of North Carolina at Greensboro Dormitory Revenue Bonds of 1962, Series B, at par and accrued interest at a 3 1/2% interest rate, providing no other equally favorable bid or bids are submitted.

Each bid, except any bid of the United States of America or the State of North Carolina or any agency thereof, must be accompanied by a certified or bank cashier's or treasurer's check upon an incorporated bank or trust company, payable unconditionally to the order of the Board of Trustees of The University of North Carolina, for $36,000. Award or rejection of bids will be made on the date above stated for the receipt of bids, and the checks of unsuccessful bidders will be returned immediately. The check of the successful bidder will be held uncashed as security for the performance of his bid, but in the event that such successful bidder shall fail to comply with the terms of his bid the check may then be cashed and the proceeds thereof retained as and for full liquidated damages.

The successful bidder will be furnished, without cost, the approving legal opinion of Mitchell, Pershing, Shetterly & Mitchell, of New York City.

The right to reject any or all bids is reserved.

BOARD OF TRUSTEES OF THE UNIVERSITY OF NORTH CAROLINA

By A.H. SHEPARD, JR.
Business Officer and Treasurer

President Friday also presented the following resolutions and requested their adoption:

Resolution Concerning Withdrawals of Cash and Securities from Funds of the University administered by the Fiscal Agent.

BE IT RESOLVED that the Wachovia Bank and Trust Company, as Fiscal Agent of The University of North Carolina, is hereby authorized and directed to accept and carry out the instructions of any Business Manager of any institution of The University of North Carolina with respect to withdrawals of cash or securities from any fund belonging to his institution and administered by the said Fiscal Agent, when the request for withdrawal is countersigned by the President or the Business Officer and Treasurer of The University of North Carolina.

Be it further Resolved that the Fiscal Agent is hereby authorized and directed to accept the instructions of the Business Officer and Treasurer of The University of North Carolina with respect to withdrawals of cash or securities from any fund belonging to The University of North Carolina, commonly known as the "Consolidated University of North Carolina", when the request for withdrawal is countersigned by the President or any Vice President of The University of North Carolina; provided, however, that requests for withdrawals from the Escheats