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2 revisions | University Libraries, UNC-Chapel Hill at Jun 19, 2022 11:29 PM | |
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354332 In connection with this request, a resolution entitled: "A RESOLUTION DETERMINING THAT NO NET INCOME CAN HEREAFTER BE REASONABLY ANTICIPATED FROM FOURTH HALL AT NORTH CAROLINA STATE OF THE UNIVERSITY OF NORTH CAROLINA AT RALEIGH AND PROVIDING FOR THE DEMOLITION OF SAID HALL", was introduced and Mr. Taylor moved that it be adopted. The motion was seconded by Mr. Noble and the resolution was adopted by unanimous vote of those members present, to-wit: Mr. Noble, Mr. Maynard, Mr. Taylor, Mr. Bryant, Mrs. Lathrop, Mr. Hill, Judge Mintz, Mrs. Burgwyn. Those voting "Nay"; None. The resolution is in the following words and figures: A RESOLUTION DETERMINING THAT NO NET INCOME CAN HEREAFTER BE REASONABLY ANTICIPATED FROM FOURTH HALL AT NORTH CAROLINA STATE OF THE UNIVERSITY OF NORTH CAROLINA AT RALEIGH AND PROVIDING FOR THE DEMOLITION OF SAID HALL. WHEREAS, the Board of Trustees of The University of North Carolina (hereinafter called the "Board") on September 22, 1956, adopted a resolution authorizing the construction of a dormitory, including necessary appurtenant facilities, at the North Carolina State College of Agriculture and Engineering of the University of North Carolina (now North Carolina State of the University of North Carolina at Raleigh and hereinafter called "North Carolina State") and the issuance of $2,000 North Carolina State College of Agriculture and Engineering of the University of North Carolina Dormitory Revenue Bonds - Series 1956 (hereinafter called the "1956 bonds") of the Board to pay the cost thereof (said resolution, as amended, being hereinafter called the "1956 Resolution"); and WHEREAS, there are pledged to the payment of the 1956 bonds certain increased rentals from existing dormitories named in the 1956 Resolution, including Fourth Hall, collectively called in the 1956 Resolution "Existing Dormitories", to the extent provided in the 1956 Resolution; and WHEREAS, the 1956 Resolution provides that such pledge is subject, as to Fourth Hall, to the right of the Board to sell or dispose of said Hall if and whenever the Board shall determine that no net income can thereafter be reasonably anticipated therefrom; and | 354 |