405

379

(ii) $305,000 Series B bonds (hereinafter sometimes called the "1963 Series B bonds"), for the purpose of refunding the outstanding $305,000 coupon 1960 bonds mentioned above;

(iii) $533,000 Series C bonds (hereinafter sometimes called the "1963 Series C bonds"0, for the purpose of refunding the portion of the temporary 1960 bond No. T-1 mentioned above corresponding to the definitive Series A bonds described therein;

(iv) $1,000,000 Series D bonds (hereinafter sometimes called the "1963 Series D bonds"), for the purpose of refunding the portion of the temporary I960 bond No. T-1 mentioned above corresponding to the definitive Series B bonds described therein;

(v) $1,000,000 Series E bonds (hereinafter sometimes called the "1963 Series E bonds"), for the purpose of refunding the portion of the temporary 1960 bond No. T-1 mentioned above corresponding to the definitive Series C bonds described therein; and

(vi) $2,544,000 Series F bonds (hereinafter sometimes called the "1963 Series F bonds"), for the purpose of paying, with other available funds, the cost of the Project; and

WHEREAS, the Board has further determined to provide in

this Resolution for authorizing the issuance hereinafter of other bonds under this Resolution to pay all or any part of the cost of additions or improvements to the Dormitory System (hereinafter defined) and to prescribe the terms and conditions under which such bonds may be authorized and issued (all bonds at any time issued under this Resolution, including the 1963 bonds, being hereinafter sometimes called the "bonds"); and

WHEREAS, under Section 116-194 of the Act the Board may authorize its Executive Committee to exercise and perform any of the powers or functions vested in the Board under the Act; now, therefore,

BE IT RESOLVED by the Board of Trustees of The University
of North Carolina as follows:

ARTICLE 1.
Definitions.

Section 101. In addition to words and terms elsewhere defined in this Resolution, the following words and terms as used in this Resolution shall have the following meanings, unless some other meaning is plainly intended:

The Term "Additional Facilities" shall mean any additions or improvements to the Dormitory System which shall be financed by the issuance of bonds under the provisions of Section 211 of this Resolution or any part of the revenues of which shall be pledged to the payment of bonds issued under the provisions of this Resolution.

The word "Board" shall mean the Board of Trustees of The University of North Carolina or, if said Board shall be abolished, the board or body succeeding to the principal functions thereof.

The word "cost", as applied to the Project or to any Additional Facilities, shall have the meaning prescribed in the Act and shall embrace the cost of acquisition and construction and all obligations and expenses and all items of cost which are set forth in Section 403 of this Resolution.