Volume 08: September 10, 1962–May 25, 1964

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to September 1, 1996, inclusive, maybe redeemed prior to their respective maturities, at the option of the Board, from any moneys that may be made available for such purpose, either in whole or in part in the inverse order of their numbers, on any interest payment date after September 1, 1971, at the principal amount of the bonds to be redeemed, together with the interest accrued thereon to the date fixed for v ademption, plus a premium of 3% of such principal amount if redeemed on or prior to September 1, 1976, if redeemed thereafter and on or prior to September 1, 1981, thereafter and on or prior to September 1, 1986, 2-1/2% 2% if redeemed 1-1/2% if redeemed thereafter and on or prior to September 1, 1991, and 1% if redeemed thereafter. Definitive coupon bonds numbered 1 to 236, inclusive, maturing September 1, 1964 to September 1, 1971, inclusive, shall not be subject to redemption. Notwithstanding any of the foregoing provisions, if the United States of America or any agency thereof holds any of such bonds, 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 without the payment of any redemption premium. This 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 maturity dates of the instalments of principal of this temporary bond.

Any such redemption, either in whole or in part, shall be made upon at least thirty (30) days' prior notice by publication and otherwise as provided in the Resolution and shall be made in the manner and under the terms and conditions provided in the Resolution; provided, however, that notice by publication shall not be required for the redemption of any bonds held by the United States of America or any agency thereof. On the date designated for redemption, notice having been given and moneys for payment of the redemption price being held in trust for such purpose, all as provided in the Resolution, the portion of this temporary bond so called for redemption shall become and be due and payable at the redemption price provided for redemption of such portion on such date, interest on such portion of this temporary bond shall cease to accrue, such portion of this temporary bond shall cease to be entitled to any lien, benefit or security under the Resolution, and the holder of such portion of this temporary bond shall have no rights in respect thereof except to receive payment of the redemption price thereof.

This bond is registered as to both principal and interest in the name of the Payee on books of the Board kept by the Treasurer of the Board as

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Bond Registrar, and it may hereafter be transferred by the registered owner hereof only upon execution of an assignment hereon duly executed by such registered owner or by his or its attorney or legal representative. Notice of such assignment shall be given promptly by the assignor to the Bond Registrar by registered mail, such notice to be in such form as shall be satisfactory to the Bond Registrar, and upon receipt of such notice this bond shall be registered as to both principal and interest on such registration books in the name of the assignee named in such notice.

All acts, conditions and things required by the Constitution and laws of the State of North Carolina and the rules and regulations of the Board to happen, exist and be performed precedent to and in the issuance of this bond have happened, exist and have been performed as so required.

IN WITNESS WHEREOF, the Board of Trustees of The University of North Carolina has caused this bond to bear the facsimile signature of the Governor of the State of North Carolina as ex officio Chairman of said Board and to be signed by the Secretary of said Board, and the official seal of said Board to be impressed hereon, all as of the 1st day of September, 1961.

Secretary, Board of Trustees of The University of North Carolina

Governor of the State of North Carolina as ex officio Chairman of the Board of Trustees of The University of North Carolina

(SEAL)

(Endorsements)

ASSIGNMENT

FOR VALUE RECEIVED, the undersigned registered owner thereof hereby sells, assigns and transfers the within bond unto ________________

Dated:

In the presence of:

ASSIGNMENT

FOR VALUE RECEIVED, the undersigned registered owner therof hereby sells, assigns and transfers the within bond unto ________________

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Date:

In the presence of:

(As provided in the within bond, notice of any assignment thereof shall be given by the assignor by registered mail to the Treasurer of the Board as Bond Registrar, such notice to be in such form as shall be satisfactory to the Bond Registrar, and upon receipt of such notice the bond shall be registered as to both principal and interest on the registration books in the name of the assignee named above.)

PAYMENT RECORD

Due Date Principal Payment (Enter Amounts) Principal Balance Due Interest Payment Date Paid Name of Paying Agent, Authorized Official and Title
March 1, 1962 $ None $ $
September 1, 1962 None
(80 due dates - leave one-half inch space between due dates, etc. for manual interlining, if necessary; also half a page at end for any explanation that might be required)

SCHEDULE "A" (this is to be a separate sheet)

Principal instalments paid in advance of maturity date

Principal Date Due Amount Principal Payment Balance Date Paid Name of Paying Agent, Authorized Official and Title
Authority to file application with HHFA for Dormitory Construction at the University in Chapel Hill

On motion of Mr. Umstead, seconded by Mr. Hill, the following resolution was unanimously adopted:

RESOLUTION AUTHORIZING THE UNIVERSITY OF NORTH CAROLINA TO FILE AN APPLICATION WITH THE HOUSING AND HOME FINANCE AGENCY OF THE UNITED STATES OF AMERICA FOR LOAN ASSISTANCE UNDER TITLE IV OF THE HOUSING ACT OF 1950 IN FINANCING THE CONSTRUCTION OF TWO NEW DORMITORIES AT THE UNIVERSITY IN CHAPEL HILL, AND DESIGNATING A. H. SHEPARD, JR. , THE BUSINESS OFFICER AND TREASURER, AS THE AUTHORIZED REPRESENTATIVE

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OF THE BOARD OF TRUSTEES OF THE UNIVERSITY OF NORTH CAROLINA IN CONNECTION WITH SUCH APPLICATION.

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

Section 1. That A. H. Shepard, Jr. , the Business Officer and Treasurer, be and he hereby is authorized to execute and file an application on behalf of the University of North Carolina to the United States of America for loan assistance under Title IV of the Housing Act of 1950 in anticipation of the issuance of $1,272,000 Revenue Bonds to provide funds, together with other available funds, for the construction of two new dormitories at the University of North Carolina at Chapel Hill, North Carolina.

Section 2.

That the said A. H Shepard, Jr. , is hereby authorized and directed to furnish such information to the United States of America, through the Housing and Home Finance Agency, as it may reasonably request in connection with the application for a loan and the issuance and sale of bonds for the payment thereof.

Chancellors' Reports

President Friday called on the Chancellors for their reports and recommendations in the following order:

University at Chapel Hill

Chancellor Aycock presented the following report on behalf of the

University at Chapel Hill:

Appointments:

Henry Hursell Dearman, as Assistant Professor, Department of Chemistry, wifh salary of $7, 000, beginning September 1, 1962. Born, Statesville, 1934. Married. Education: B.S. 1956, University of North Carolina; Ph.D. I960, California Institute of Technology. Experience: Research Fellow I960, California Institute of Technology; Research Associate 1960-61, University of Chicago. Interviewed by: Dr. Dearman is well-known as a former student at Chapel Hill.

Kenneth Jay Lessler, as Assistant Professor, Department of Psychiatry, with salary of $7, 800, beginning September 1, 1962. Born, Long Beach, California 1933. Married. Education: B.A. 1955 and M. A. 1956, San Jose State College; Ph.D. , 1962, Michigan State University. Experience: Therapy Extern, San Jose State College; Personnel Psychologist in a teaching capacity 1956-58, U.S. Army Adjutant General's Office, Fort Harrison, Indiana; Assistant Instructor, 1959-60, Michigan State University; Psychology Intern 1960-61, Topeka State Hospital; Assistant Instructor, 1961-present, Michigan State University; Clinic Counselor, summers 1959, 1961, Michigan State University. Interviewed by Chairman of the Department of Psychiatry and his faculty. Dr. Lessler also lectured to members of the Department of Psychology.

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Delayed Appointment

Ruth Elaine Stone was appointed Lecturer-Librarian in the School of Library Science for a three-year period beginning September 1, 1962. Because of surgery and recuperation we request that she be approved to report for duty on September 1, 1963, for the ensuing three-year period.

Promotions:

David R. Hawkins, Associate Professor, School of Medicine, is recommended lor promotion to Professor, beginning September 1, 1962, with increase in salary to $11,750.

Clifton E. Crandell, Assistant Professor, School of Dentistry, is recommended for promotion to Associate Professor, beginning July 1, 1963, without change in salary.

Thomas E. Curtis, Assistant Professor, School of Medicine, is recommended for promotion to Associate Professor, beginning September 1, 1962, with increase in salary to $9,900.

Berton H. Kaplan, Instructor, School of Public Health, is recommended for promotion to Assistant Professor, beginning September 1, 1962, with increase in salary to $8, 400.

Increases:

Name Rank Department Proposed Salary
Wassily Hoeffding Professor Statistics $14,250
Norman L. Johnson Professor Statistics 13,500
Walter L. Smith Professor Statistics 13,250
Leaves of Absence

Stephen Albert Emery, Professor, Department of Philosophy, is recommended for a leave of absence for the Fall Semester of 1962, without salary, in order that he may complete a professional work for publication.

Maurice Alexander Natanson, Professor, Department of Philosophy, is recommended for a leave of absence for the Spring Semester 1963, without salary, in order to accept a visiting professorship at Pennsylvania State University.

Ralph William Pfouts, Professor, School of Business Administration, is recommended for a leave of absence for the academic year 1962-63, without salary, in order to do research under a Ford Foundation grant.

Almonte C. Howell, Professor, Department of English, is recommended for a leave of absence for the academic year 1962-63, without salary, in order to accept a visiting professorship at the University of Paraguay.

Louis G. Welt, Professor, School of Medicine, has been granted a leave of absence with base salary and is recommended for $2, 000 in addition for the year 1962-63, in order to do research at Duke University.

John Charles Morrow, Professor, Department of Chemistry, is recommended for a leave of absence, without salary, for one year beginning September 1962, in order to study and do research at the University of Heidelberg under a National Science Foundation grant.

Resignations:

David Wilfred Abse, Professor, School of Medicine, resigns as of August 31, 1962.

Ozro Luke Davis, Jr. , Associate Director of the Fifth Year Program, School of Education, resigns as of September 13, 1962.

Kerr Lachlin White, Associate Professor, School of Medicine, resigns as of July 1, 1962.

Sherwin Harry Cooper, Assistant Professor, Department of Geography, resigns as of August 31, 1962.

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