504

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WHEREAS, in Section 502 of the Resolution the Board covenants that, notwithstanding any other facilities which may now or hereafter be available for the housing of students at the Chapel Hill Campus, it will require a sufficient number of students at the Chapel Hill campus to live in and use the Dormitory System, and will adopt and enforce such parietal and other rules and regulations as, will assure that the facilities of the Dormitory System will be fully utilized at all times during the regular school terms at the Chapel Hill campus and to the fullest extent practicable at all times during any summer school term at the Chapel Hill campus, and that there shall be no free use or occupancy of any of the facilities of the Dormitory System; and

WHEREAS, Section 1003 of the Resolution provides that all rights, powers and privileges conferred and duties and responsibilities imposed upon the Board by the provisions of the Resolution may be exercised or performed by or at the direction of the Executive Committee; now, therefore,

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

Section 1. Beginning withthe first semester of the 1964-65 regular term of two semesters and the first term of the 1964 summer session of two terms, the minimum rentals for all students and counselors occupying the men's dormitories included in the Dormitory System shall be $190.00 for the regular term of two semesters and $27.50 for each of the two summer terms, and for all students and counselors occupying the women's dormitories included in the Dormitory System shall be $235.00 for the regular term of two semesters and $35.00 for each of the two summer terms, and, upon its completion, the minimum rentals for all students and counselors occupying the Project shall be $190.00 for the regular term of two semesters and $27.50 for each of the two summer terms.

Section 2. Notwithstanding any other housing facilities of The University of North Carolina at Chapel Hill which may now or hereafter be available for students at the Chapel Hill campus, the officers of The University of North Carolina at Chapel Hill shall assign students at the Chapel Hill campus to the occupancy of the Dormitory System in preference to any other housing facilities heretofore or hereafter provided at the Chapel Hill campus, to the enx that maximum occupancy and use of the Dormitory System will be assured and that sufficient revenues will be provided to meet all applicable requirements of the Resolution.

Section 3. No free usage of the Dormitory System or its services by The University of North Carolina at Chapel Hill, its administrative or faculty personnel, students at the Chapel Hill campus or others shall be permitted. The provisions of this Section shall constitute a covenant on the part of the Board with the holders from time to time of the bonds authorized and issued under the provisions of the Resolution.

Section 4. The officers of The University of North Carolina at Chapel Hill are hereby authorized, empowered and directed to make any rules and regulations and to take any action necessary to carry into effect and to enforce the provisions of this resolution.

Mr. Shepard, the Business Officer and Treasurer of the Board of Trustees of The University of North Carolina, reported to the Executive Committee that the following bids had been received for The University of North Carolina at Chapel Hill Dormitory System Revenue Bonds of 1963, Series A, C, D and E:

Bid of the United states of America, acting by and through the Housing and Home Finance Administrator, offering to pay par value and accrued interest for all or any part of said bonds bearing interest as follows:

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