305

287

$47,000 of bonds maturing in the years 1965 through 1966 at 5% per annum;
$25,000 of bonds maturing in the year 1967 at 4 1/4% per annum;
$203,000 of bonds maturing in the years 1968 through 1974 at 3% per annum; and
$300,000 of bonds maturing in the years 1975 through 1982 at 3 1/4%per annum.

Bid of Merrill Lynch, Pierce, Fenner & Smith, Inc., Reynolds and Company, J. Lee Peeler & Company, Inc., Interstate Securities Corporation, and McCarley & Company, Inc., offering to pay $1,087,000 and accrued interest for the blocks of said bonds maturing in the years 1965 through 1992 bearing interest as follows:

$153,000 of bonds maturing in the years 1965 through 1970 at 5% per annum;
$29,000 of bonds maturing in the year 1971 at 4 3/4% per annum;
$93,000 of bonds maturing in the years 1972 through 1974 at 3% per annum;
$390,000 of bonds maturing in the years 1975 through 1984 at 3 1/4% per annum
$197,000 of bonds maturing in the years 1985 through 1988 at 3.40% per annum; and
$225,000 of bonds maturing in the years 1989 through 1992 at 3 1/2% per annum.

After due consideration of said bids the following resolution was introduced by Mr. Umstead and was adopted by unanimous vote of those members present, to-wit: Mrs. Lathrop, Mrs. Burgwyn, Messrs. Umstead, Hill, Bryant, Maynard, Pearsall, Barber and Wicker. Those voting "Nay": None. The resolution is in the following words and figures:

RESOLUTION

BE IT RESOLVED by the Executive Committee of the Board of Trustees of The University of North Carolina that:

Section 1. Notice was duly published calling for sealed bids to be received by the Board of Trustees of The University of North Carolina, acting by its Executive Committee, at the Governor's Office, State Capitol Building, Raleigh, North Carolina, until 10:30 o'clock A. M., Eastern Standard Time, September 9, 1963, for $1,800,000 The University of North Carolina at Greensboro Dormitory System Revenue Bonds of 1962, Series B, of the Board of Trustees of The University of North Carolina, at which hour bidding was closed and the following bids were found to have been filed and to accord in all respects with the terms of said notice: Bid of the United States of America, acting by and through the Housing and Home Finance Agency, offering to pay par value and accrued interest for all of the blocks of said bonds offered bearing interest at the rate of 3 1/2% per annum.