181

169

interest payment date prior to their respective maturities and without the payment of any redemption premium.

Any temporary bond or bonds without coupons shall be subject to redemption as provided above for the definitive coupon bonds of corresponding maturities, except that any redemption in part shall be in the inverse order of the maturity dates of the instalments of principal of such temporary bond or bonds without coupons.

The moneys in the Sinking Fund available for the purchase or redemption of Series A and Series B bonds outstanding under said resolution of February 26, 1962, as amended, shall be applied in the order and manner provided in said resolution.

The interest on said bonds is exempt from all present Federal income taxes and the statute under which said bonds have been authorized expressly provides that the bonds issued under such statute and the income therefrom shall at all times be free from taxation within the State of North Carolina.

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;
(2) All maturities in the years 1973 through 1982;
(3) All maturities in the years 1983 through 1992;
(4) All maturities in the years 1993 through 2002; and
(5) The entire $1,000,000 issue.

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 said $1,000,000 University of North Carolina Student Apartment Revenue Bonds of 1962, Series A, 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.

Each bid, except any bid of the United States of America or the State of North Carolina or any agency thereof, must be accompanied by a certified or bank cashier's or treasurer's check upon an incorporated bank or trust company, payable unconditionally to the order of the Board of Trustees of The University of North Carolina,

169

interest payment date prior to their respective maturities and
without the payment of any redemption premium.

Any temporary bond or bonds without coupons shall be subject
to redemption as provided above for the definitive coupon bonds of
corresponding maturities, except that any redemption in part shall
be in the inverse order of the maturity dates of the instalments of
principal of such temporary bond or bonds without coupons.

The moneys in the Sinking Fund available for the purchase or
redemption of Series A and Series B bonds outstanding under said
resolution of February 26, 1962, as amended, shall be applied in
the order and manner provided in said resolution.

The interest on said bonds is exempt from all present Federal
income taxes and the statute under which said bonds have been
authorized expressly provides that the bonds issued under such
statute and the income therefrom shall at all times be free from
taxation within the State of North Carolina.

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)
(2)
(3)
(4)
(5)

All maturities in the years 1965
All maturities in the years 1973
All maturities in the years 1983
All maturities in the years 1993
The entire $1,000,000 issue.

through
through
through
through

1972;
1982;
1992;
2002; and

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 said $1, 000, 000
University of North Carolina Student Apartment Revenue Bonds of
1962, Series A, at 3 l/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.
Each bid, except any bid of the United States of America or the
State of North Carolina or any agency thereof, must be accompanied
by a certified or bank cashier's or treasurer's check upon an in­
corporated bank or trust company, payable unconditionally to the
order of the Board of Trustees of The University of North Carolina,