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2 revisions | University Libraries, UNC-Chapel Hill at Jun 14, 2022 11:32 PM | |
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177165 The bonds will be dated September 1, 1962, will mature serially September 1, 1965 through 2002 and will bear interest at such rate or rates, not exceeding five per centum (5%) per annum and averaging not greater than three and one-half per centum (3 1/2%) per annum, as are specified in the successful bid. Interest is payable semi-annually on the 1st days of March and September in each year. The bonds are part of an issue of $2,942,000 bonds of the Board, consisting of $1,000,000 University of North Carolina Student Apartment Revenue Bonds of 1962, Series A, and $1,942,000 University of North Carolina Student Apartment Revenue Bonds of 1962, Series B, issued for the combined purpose of refunding University of North Carolina Student Apartments Revenue Bond, Series 1958, No. T-1, outstanding in the principal amount of $1,942,000, and, with other available funds, paying the cost of thirteen new apartment buildings, with appurtenant facilities, to house approximately 84 married student families, at the University of North Carolina, in Chapel Hill, North Carolina. The bonds of said issue of $2,942,000 will be special obligations of the Board of Trustees of The University of North Carolina, secured by: A first lien on and pledge of the net revenues of said thirteen new apartment buildings and the thirty-four apartment buildings, with appurtenant facilities, at the University for which the University of North Carolina Student Apartments Revenue Bond, Series 1958, No. T-1, was issued. Bids for said $1,000,000 University of North Carolina Student Apartment Revenue Bonds of 1962, Series A, will be considered on the following basis: (1) All maturities in the years 1965 through 1972; The United States of America, through the Housing and Home Finance Administrator, has entered into a loan agreement with the Board of Trustees of The University of North Carolina, acting for and on behalf of the University of North Carolina, pursuant to which the United States of America has agreed to buy these bonds at 3 1/2% interest rate provided no other equally or more favorable bid or bids are submitted to purchase all of such bonds or any portion of such bonds in blocks as above set forth. | 177 |