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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:
$1,647, $533, $1,000, $1,000,
000 000 000 000
Series Series Series Series
A C D E
bonds bonds bonds bonds
at at at at
2 3/4% per annum; 3 l/2% per annum; 3% per annum; and 2 7/8% per annum.
Bid of J. Lee Peeler & Company, Inc. , offering to pay $605, 001.00 and accrued interest for the $533,000 Series C bonds and the $72, 000 Series D bonds maturing in the year 1980 bearing interest as follows: Series C bonds: $ 51,000 bonds maturing in $ 53,000 bonds maturing in $297,000 bonds maturing in 3. 20% per annum; $132,000 bonds maturing in 3. 50% per annum.
the the the and the
year 1971 at 4.70% per annum; year 1972 at 4.75% per annum; years 197 3 through 1977 at years 1978 and 1979 at
Series D bonds: $ 72, 000 bonds maturing in the year 1980 at 3% per annum. Bid of Reynolds & Company, offering to pay par value and accrued interest for the $533, 000 Series C bonds bearing interest as follows: $ 51, 000 bonds maturing in $ 53, 000 bonds maturing in $172, 000 bonds maturing in 3 l/4% per annum; $257, 000 bonds maturing in 3.40% per annum.
the year 1971 at 5% per annum; the year 1972 at 2 3/4% per annum; the years 1973 through 1975 at and the years 1976 through 1979 at
Bid of White, Weld & Company, offering to pay $533, 037. 31 and accrued interest for the $533, 000 Series C bonds, maturing in the years 1971 through 1979, bearing interest at 3. 50% per annum. Bid of Powell, Kistler & Co. , offering to pay $276, 066. 20 for the $276, 000 Series C bonds maturing in the years 1971 through 197 5 bearing interest at 3. 40% per annum.
Section 2. It is hereby determined that under the terms of the Notice of Sale and Official Notice of Sale of said bonds the following bids should be accepted and the acceptance thereof is for the best interests of the Board: 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 the following bonds bearing interest as follows: $1, 647, 000 1994, at $ 928, 000 1991, at $1,000, 000 2000, at
Series A bonds, maturing in the years 1964 through 2 3/4% per annum; Series D bonds, maturing in the years 1981 through 3% per annum; and Series E bonds, maturing in the years 1992 through 2 7/8% per annum.
Bid of J. Lee Peeler & Company, Inc. , offering to pay $605, 001. 00 and accrued interest for the $533,000 Series C bonds and the $72,000 Series D bonds maturing in the year 1980 bearing interest as follows: Series C Bonds: $ 51,000 bonds maturing in the $ 53, 000 bonds maturing in the $297,000 bonds maturing in the 3.20% per annum; and $132, 000 bonds maturing in the 3. 50% per annum.
year 1971 at 4. 7 0% per annum; year 1972 at 4. 75% per annum; years 1973 through 1977 at years 1978 and 1979 at
Series D bonds:
$72,000 bonds maturing in the year 1980 at 3% per annum.
Section 3. Said bonds, maturing and bearing interest at the rates set forth in Section 2 above, are hereby awarded to the respective bidders named in Section 2 above at the prices set forth in said Section 2 for said bonds, respectively, and said bonds shall bear interest at said rates.
Section 4. In conformity with the request of the United States of America and the provisions of Section 205 of the resolution adopted by the Board of Trustees of The University of North Carolina on February 24, 1964 authorizing the issuance of said bonds, there shall be delivered to the United States of America, in lieu of definitive coupon bonds, a single non-negotiable temporary bond without coupons for the bonds of each Series awarded to the United States of America pursuant to Section 3 above, each temporary bond to be substantially in the form of TEMPORARY BOND WITHOUT COUPONS attached to this resolution, with such insertions, changes and modifications as may be required to conform to the award provisions of this resolution. If any purchaser of bonds other than the United States of America shall request the execution and delivery of a single non-neogitable temporary bond without coupons in lieu of definitive coupon bonds, a single non-negotiable temporary bond without coupons for such of the bonds awarded to such purchaser and registered as such purchaser shall designate shall be delivered to such purchaser, such temporary bond to be substantially in the form of TEMPORARY BOND WITHOUT COUPONS attached to this resolution, with such insertions, changes and modifications as may be required to conform to the award provisions of this resolution.
Section 5. Simultaneously with the delivery of The University of North Carolina at Chapel Hill Dormitory System Revenue Bonds of 1963, Series A, C, D and E, pursuant to the award thereof in Section 3 above, there shall be delivered to the owners and holders of the outstanding $305,000 coupon University of North Carolina Dormitory Revenue Bonds of 1960, Series A, of the Board of Trustees of The University of North Carolina the $305,000 The University of North Carolina at Chapel Hill Dormitory System Revenue Bonds of 1963, Series B, maturing on the 1st day of November in the years and amounts and numbered and bearing interest as follows:
[table]
in exchange for said outstanding University of North Carolina Dormitory Revenue Bonds of 1960, Series A, maturing in the same years and amounts and bearing interest at the same rate or rates, respectively, and upon the consummation of such exchange said $305,000 coupon University of North Carolina Dormitory Revenue Bonds of 1960, Series A, shall be cancelled.
Section 6. Upon the application of the proceeds of any bonds awarded by this resolution to bidders other than the United States of America as provided by Section 209 of said resolution of February 24, 1964 and the delivery to the United States of America of the bonds awarded by this resolution to the United States of America in exchange for the corresponding 1956 bonds and 1960 bonds held by it in conformity with the provisions of said Section 209, the University of North Carolina Dormitory Revenue Bonds - Series 1956 (referred to above as the "1956 bonds"), outstanding in the amount of $1,647,000, and the University of North Carolina Dormitory Revenue Bond of 1960, Series A, B and C (referred to above as the
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"1960 bonds"), No. T-l, registered in the name of the United States of America, Housing and Home Finance Administrator, and outstanding in the amount of $2,533,000 (in lieu of $533,000 definitive coupon Series A bonds, $1,000,000 definitive coupon Series B bonds and $1,000,000 definitive coupon Series C bonds), shall be cancelled.
Section 7. The University of North Carolina at Chapel Hill Dormitory System Revenue Bonds of 1963, Series F, shall be sold by the Executive Committee pursuant to the provisions of Section 210 of said resolution of February 24, 1964 as the Executive Committee shall hereafter determine.
Section 8. All steps necessary to carry this resolution into effect shall be taken by the proper officers and agents of the Board of Trustees of The University of North Carolina.
$___________________ No. T-_________
TEMPORARY BOND WITHOUT COUPONS (Registered as to both principal and Interest) Exchangeable for definitive coupon bonds
United States of America State of North Carolina
BOARD OF TRUSTEES OF THE UNIVERSITY OF NORTH CAROLINA
THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL DORMITORY SYSTEM REVENUE BOND OF 1963, SERIES ....
The Board of Trustees of The University of North Carolina, a body politic and corporate under the name of the "University of North Carolina" (herein sometimes called the "Board"), for value received, hereby promises to pay, solely from the special fund provided therefor as hereinafter set forth, to the UNITED STATES OF AMERICA, HOUSING AND HOME FINANCE ADMINISTRATOR, or his successor (herein called the "Payee"), or his registered assigns (herein sometimes called the "Alternate Payee"), the principal sum of
__________DOLLARS
in annual instalments on the 1st day of November in the following years and in the following amounts, corresponding to the definitive coupon bonds hereinafter mentioned of the Series and numbered as follows:
The University of North Carolina Dormitory System Revenue Bonds of 1963, Series...........
Year of Maturity
Principal Amount
Numbers (all inclusive)
and to pay, solely from said special fund, interest from the date hereof on the unpaid portion of such principal sum at the rate of __________ % per annum until payment thereof, such interest until the final maturity of this bond being payable semi-annually on the 1st days of May and November in each year. Both the principal of and the interest on this bond are payable in any coin or currency which on the respective dates of payment thereof is legal tender for the payment of debts due the United States of America.
During the time the Payee is the registered owner of this bond payment of the instalments of principal and interest then due and payable shall be made at the Federal Reserve Bank of Richmond, Richmond, Virginia, or such other fiscal agent as the Payee shall designate (said Federal Reserve Bank or other fiscal agent being herein called the "Payee's Fiscal Agent"), and during any such time as the Alternate Payee shall be the registered owner of this bond payment of the instalments of principal and interest then due and payable shall be made at the Wachovia Bank and Trust Company, in the City of Raleigh, North Carolina, or, at the option of the Alternate Payee, at First National City Bank, in the Borough of Manhattan, City and State of New York. Payments of
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principal and interest, including any prepayments of instalments of principal, shall be noted on the Payment Record made a part of this bond and written notice of the notation of such payment on the Payment Record shall be given promptly to the Treasurer of the Board without presentation or surrender hereof, and the Board shall be fully discharged of its obligation on this bond to the extent of the payment so made. Upon final payment this bond shall be surrendered to the Board for cancellation.
This bond is a temporary bond issued in lieu of definitive coupon bonds of the denomination of $1,000 each and aggregating in principal amount the amount of this temporary bond. At the request of the registered owner the Board will, within ninety (90) days after its receipt of such request, cause to be prepared and delivered in exchange for this temporary bond, at the place designated by the registered owner and without expense to the registered owner, definitive coupon bonds in an aggregate principal amount equal to the principal amount of this temporary bond then unpaid, having maturities corresponding to the maturities of the instalments of principal of this temporary bond then unpaid and of the same Series and bearing interest at the same rate, and upon such exchange all coupons appertaining to the definitive coupon bonds and representing interest theretofore paid shall be detached and cancelled. Until so exchanged this temporary bond shall in all respects be entitled to the same benefit of the Resolution hereinafter mentioned as the definitive coupon bonds to be issued hereunder.
This bond shall not be deemed to constitute a debt of the State of North Carolina or a pledge of the faith and credit of the State, but shall be payable as to both principal and interest solely from the special fund provided therefor as hereinafter set forth.
This bond is one of a duly authorized issue of bonds of the Board, all of like date, aggregating Seven Million Twenty-nine Thousand Dollars ($7,029,000) and designated "The University of North Carolina at Chapel Hill Dormitory System Revenue Bonds of 1963" (hereinafter called the "1963 bonds") and issued in Series as follows:
$1,647,000 Series A bonds (hereinafter called the "1963 Series A bonds"), numbered 1-A to 1,647,000-A, inclusive, and maturing in annual instalments in the years 1964 to 1994, inclusive;
$305, 000 Series B bonds (hereinafter called the "1963 Series B bonds"), numbered 1-B to 305-B, inclusive, and maturing in annual instalments in the years 1964 to 1970, inclusive;
$533,000 Series C bonds (hereinafter called the "1963 Series C bonds"), numbered 1-C to 533-C, inclusive, and maturing in annual instalments in the years 1971 to 1979, inclusive;
$1,000,000 Series D bonds (hereinafter called the "1963 Series D bonds"), numbered 1-D to 1,000-D, inclusive, and maturing in annual instalments in the years 1980 to 1991, inclusive;
$1,000,000 Series E bonds (hereinafter called the "1963 Series E bonds"), numbered 1-E to 1,000-E, inclusive, and maturing in annual instalments in the years 1992 to 2000, inclusive; and
$2,544,000 Series F bonds (hereinafter called the "1963 Series F bonds"), numbered 1-F to 2,544-F, inclusive, and maturing in annual instalments in the years 1967 to 2003, inclusive;
issued for the combined purpose of refunding the University of North Carolina Dormitory Revenue Bonds - Series 1956 (hereinafter called the "1956 bonds") outstanding in the amount of $1,647,000 and the University of North Carolina Dormitory Revenue Bonds of 1960, Series A, B and C (hereinafter called the "1960 bonds"), outstanding in the amount of $2,838,000 and, with other available funds, paying the cost of a new dormitory, with necessary appurtenant facilities, to house approximately 925 men students (hereinafter called the "Project") at The University of North Carolina at Chapel Hill (hereinafter called the "Chapel Hill campus").
All of the 1963 bonds are issued or to be issued under and
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pursuant to a resolution duly adopted by the Board on February 24, 1964 (said resolution of the Board with all resolutions amendatory thereof or supplemental thereto as therein permitted being herein collectively called the "Resolution"). The Resolution provides for the issuance from time to time under the conditions, limitations and restrictions therein set forth of additional bonds (such additional bonds and the 1963 bonds being herein collectively called the "bonds") to pay the cost of acquiring or constructing Additional Facilities (hereinafter mentioned). Reference is hereby made to the Resolution for the provisions, among others, with respect to the custody and application of the proceeds of the bonds, the collection and disposition of revenues, the fund charged with and pledged to the payment of the interest on and the principal of the bonds, the nature and extent of the security, the terms and conditions under which the bonds of each series are or may be issued, the rights, duties and obligations of the Board and the rights of the holders of the bonds, and, by the acceptance of this bond, the holder hereof assents to all of the provisions of the Resolution.
This bond is issued and the Resolution was adopted under and pursuant to the Constitution and laws of the State of North Carolina, including Sections 116-187 to 116-198 of the General Statutes of North Carolina. The resolution provides for fixing, charging and collecting fees, rents and charges for the use of and for the services furnished or to be furnished by The University of North Carolina at Chapel Hill Dormitory System (hereinafter called the "Dormitory System"), comprising the following, exclusive of any snack bars, coin operated machines, recreational facilities, dining halls or cafeterias therein: (i) the dormitories known as Avery Hall, Parker Hall and Teague Hall and the addition to the existing dormitory known as Spencer Hall financed by the issuance of the 1956 bonds, (ii) the dormitories known as Craige Hall and Ehringhaus Hall and the addition to the existing dormitory known as the Nurses' Dormitory financed by the issuance of the 1960 bonds, (iii) certain dormitories heretofore constructed at the Chapel Hill campus and referred to in the Resolution as "Existing Dormitories", (iv) the Project, and (v) any additions or improvements to the Dormitory System financed by the issuance of bonds under the provisions of the Resolution or any part of the revenues of which shall be pledged to the payment of bonds issued under the provisions of the Resolution, which fees, rents and charges shall be sufficient, with other available funds, to pay the cost of maintaining, repairing and operating the Dormitory System, including reserves for such purpose, and to pay the principal of and interest on the bonds as the same shall become due and to provide reserves therefor. The Resolution provides for the creation of a special fund designated "The University of North Carolina at Chapel Hill Dormitory System Bond and Interest Sinking Fund Account of 1963" (hereinafter called the "Dormitory System Bond and Interest Sinking Fund Account of 1963") and for the deposit to the credit of said special fund of a sufficient amount of the revenues of the Dormitory System, over and above the cost of such maintenance, repair and operation thereof, to pay the principal of and the interest on the bonds then outstanding as the same shall become due and to provide a reserve for such purpose, and said special fund is pledged to and charged with the payment of such principal and interest.
(Here insert the terms of redemption applicable to this Series. )
Notwithstanding any of the foregoing provisions, if the United States of America or any agency thereof holds any bonds of this Series, all such bonds so held may be redeemed in the inverse order of their numbers on any interest payment date prior to their respective maturities and without the payment of any redemption premium.
The temporary bond is subject to redemption as provided above for the corresponding definitive coupon bonds, except that any redemption in part shall be in the inverse order of the maturitie dates of the instalments of principal of this temporary bond.
The moneys in the Dormitory System Bond and Interest Sinking Fund Account of 1963 available for the purchase or redemption of bonds shall be allocated to all series of bonds outstanding under the Resolution in the manner provided in the Resolution.