383

357

Honorary members absent:
John Motley Morehead
William R. Kenan
Luther H. Hodges
John W. Clark
John W. Umstead, Jr.
Frank P. Graham
Gordon Gray

Messages wee received from the following expressing regrets and stating reasons for their absence:
Bowman Gray
R. Walker Martin
Walter L. Smith
R. D. McMillan, Jr.
J. Hanes Lassiter
D. M. Robinson
Ben C . Trotter
J. Gilmer Mebane
Mrs. S. L. Rodenbough
Kemp B. Nixon
Archie K. Davis
Luther H. Hodges

Messrs. Rodenbough, Messrs. Nixon, Wallace, Lassiter and Davis were absent because of illness.

Minutes

The minutes of the last meeting of the Board and those of the interim meetings of the Executive Committee were approved without reading, copies having been furnished all members.

Bond Proceedings

Loan Agreement for Dormitory System Revenue Bonds of 1963

The following Loan Agreement (together with its Terms and Conditions), between the Board of Trustees of The University of North Carolina and the Housing and Home Finance Agency of the United States of America, on behalf of the University of North Carolina at Chapel Hill, was approved, and A. H. Shepard, Jr. , Business Officer and Treasurer, was authorized to execute the same for the Board of Trustees. All members present voted for approval of the Loan Agreement and for its execution. The Loan Agreement is in the following words and figures, to-wit:

Project No. CH-NC-73(D)
University of North Carolina
Chapel Hill, North Carolina
Contract No. H-302-2009

LOAN AGREEMENT

THIS LOAN AGREEMENT, dated as of January 1, 1964, by and between the
BOARD OF TRUSTEES OF THE UNIVERSITY OF NORTH CAROLINA, A BODY POLITIC AND CORPORATE UNDER THE NAME OF "UNIVERSITY OF NORTH CAROLINA", ACTING FOR AND ON BEHALF OF THE UNIVERSITY OF NORTH CAROLINA
(herein called the "Borrower") and the United States of America (herein called the "Government"), WITNESSETH: