465

438

Mr. Hill moved that the foregoing recommendations for new degree programs be approved. The motion was seconded by Mr. Umstead and the programs were unanimously approved.

Bond Resolution - University at Greensboro

The following resolution relating to dormitory rents at the University at Greensboro was introduced, and Mr. Pearsall moved that it be adopted. The motion was seconded by Mrs. Lathrop and the resolution was adopted by all members present voting for its adoption; those voting "Nay": None. The Chairman thereupon declared said resolution unanimously adopted and the Secretary was instructed to record it in the minutes. The said resolution is in the following words and figures, to-wit:

RESOLUTION RELATING TO DORMITORY RENTALS AT THE UNIVERSITY OF NORTH CAROLINA AT GREENSBORO.

WHEREAS, the Executive Committee of the Board of Trustees of The University of North Carolina at its meeting on January 10, 1964 adopted a resolution entitled:

RESOLUTION RELATING TO AN INCREASE OF $60.00 FOR THE REGULAR TERM DORMITORY RENTALS AT THE UNIVERSITY OF NORTH CAROLINA AT GREENSBORO

which resolution provided in Section 2 as follows:

Section 2. Said regular term rental rate of $180 for each occupant thereof applicable to the Project (the new dormitory, with necessary appurtenant facilities, to house approximately 640 women students and including four apartments, at The University of North Carolina at Greensboro, the construction and financing of which were authorized by the Resolution), the 1958 Facilities (the two dormitory sections called Moore Dormitory and Strong Dormitory) and the Existing Dormitories (the dormitories known as South Spencer, North Spencer, Shaw, Gray, Bailey, Cotton, Hinshaw, Coit, Jamison, Mary Foust, New Guilford, Weil Winfield, Mendenhall and Ragsdale) is hereby increased $60 to a regular,term rental of $240, effective September 1, 1964.

and

WHEREAS, the Executive Committee has determined that only so much of said increase applicable to student occupants of the Existing Dormitories mentioned in said Section 2 as is necessary to meet the requirements of Section 501 of the Resolution mentioned in said Section 2 (being the resolution of May 28, 1962, as amended, authorizing the issuance of $2,625,000 The University of North Carolina at Greensboro Dormitory System Revenue Bonds of 1962, Series A and B) shall be deemed to be a supplemental increase under the provisions of said Resolution and included in the Revenues of the Existing Dormitories as such Revenues are defined in said Resolution; now, therefore,

BE IT RESOLVED by the Executive Committee of the Board of Trustees of The University of North Carolina, that so much of said $60.00 increase in the regular term rental rate for each occupant of said Existing Dormitories as is necessary to meet the requirements of Section 501 of said Resolution shall be deposited as received to the credit of the Existing Dormitories Pledged Revenue Fund created