438

412

After any supplementsl resolution shall have been adopted by the Board, the Secretary of the Board shall, except as otherwise provided in this Section, publish the resolution so adopted once a week for two successive weeks in a newspaper of general circulation published in the City of Raleigh, North Carolina, and in a financial journal or in a daily newspaper of general circulation published in the Borough of Manhattan, City and State of New York. A notice substantially in the following form (the blanks being first properly filled in), with the printed signature of the Secretary of the Board appended thereto, shall be published with the resolution:

To the holders of The University of North Carolina at Chapel Hill Dormitory System Revenue Bonds of........... Series...................:

The foregoing supplemental resolution was adopted by the Board of Trustees of The University of North Carolina on the... day of ..................... Subject to the provisions of Section 901 of the Resolution authorizing the issuance of said bonds, adopted on ____________, 1964, the supplemental resolution set forth above will become effective thirty (30) days after the holders of not less than two-thirds (2/3) in aggregate principal amount of the bonds then outstanding shall have filed with the Secretary of said Board named below instruments approving the adoption of said supplemental resolution, each such instrument to be accompanied by proof of ownership of the bonds to which such instrument refers, which proof shall be such as is permitted by the provisions of Article X of the above mentioned Resolution adopted ______________, 1964 and said Secretary shall have published a notice slating that the adoption of said supplemental resolution has been approved.

BOARD OF TRUSTEES OF THE UNIVERSITY OF NORTH CAROLINA

By _____________
Secretary

On or before the date of the first publication thereof, the Secretary of the Board shall mail or cause to be mailed, postage prepaid, a copy of such supplemental resolution and of the above mentioned notice to all registered owners of bonds then outstanding at their addresses as they appear on the registration books and all other bondholders who shall have filed their names and addresses with the Secretary of the Board for such purpose.

No such supplemental resolution shall become effective unless the holders of not less than two-thirds (2/3) in aggregate principal amount of the bonds then outstanding shall have filed with the Secretary of the Board within one year after the date of adoption of such supplemental resolution instruments approving the adoption of such supplemental resolution, each such instrument to be accompanied by proof of ownership of the bonds to which such instrument refers, which proof shall be such as is permitted by the provisions of Article X of this Resolution. Upon the filing of such instruments with the Secretary of the Board and upon approval by the holders of not less than two-thirds (2/3) in aggregate principal amount of the bonds then outstanding of the adoption of such supplemental resolution, the Secretary of the Board shall cause a notice setting forth such fact to be published and mailed in the manner herein above provided for notice of adoption of such supplemental resolution.

Any action or proceeding in any court objecting to such supplemental resolution or to any of the terms and provisions therein contained or the operation thereof, or in any manner questioning the propriety of the adoption thereof or the execution by any bondholder of any instrument purporting to approve the adoption of such resolution, or to enjoin or restrain the Board from taking any action pursuant to the provisions thereof, must be commenced within thirty (30) days after the date of the first publication of the notice of the adoption of such supplemental resolution, or if as provided below, no such publication is required, then within thirty (30) days after the mailing of notice to the bondholder as provided below in this Section.