University of Virginia Library

ARTICLE II.

Authorization, Form, Execution and Delivery of Bonds

Section 201. For the purpose of paying the cost of the Project, there shall be issued student
apartment buildings revenue bonds of the Institution in the aggregate principal amount of One Million
Two Hundred Thousand Dollars ($1,200,000). The bonds shall be designated "The Rector and Visitors
of the University of Virginia Student Apartment Buildings Revenue Bonds (Series 1962)", shall consist
of 240 bonds of the denomination of $5,000 each, numbered 1 to 240, inclusive, shall be dated as of
the 1st day of October, 1962, shall be stated to mature (without right of prior redemption), in
numerical order, lowest numbers first, on the 1st day of October in the following years and in the
following amounts, respectively

                                                 

Year of Maturity	Principal Amount
1964	$30,000
1965	35,000
1966	35,000
1967	35,000
1968	40,000
1969	40,000
1970	40,000
1971	40,000
1972	45,000
1973	45,000
1974	45,000
1975	50,000
1976	$50,000
1977	50,000
1978	55,000
1979	55,000
1980	55,000
1981	60,000
1982	60,000
1983	65,000
1984	65,000
1985	75,000
1986	70,000
1987	70,000

and shall bear interest from their date until their payment at a rate or rates not exceeding six
per centum (6%) per annum as shall hereafter be determined by the Board and by the Treasury Board,
such interest to the respective maturities of the bonds being payable semi-annually on the 1st days
of April and October in each year. Both the principal of and the interest on the bonds shall be
payable at the office of the State Treasurer in the City of Richmond, Virginia, in any coin or
currency of the United States of America which, on the respective dates of payment thereof, is
legal tender for the payment of public and private debts

Section 202. The bonds shall bear the facsimile signature of the Rector of the University of
Virginia and shall be signed by the Comptroller of the University of Virginia and by the State
Treasurer of the State of Virginia and shall be countersigned by the Comptroller of the State of
Virginia, and the official seal of The Rector and Visitors of the University of Virginia shall be
impressed on the bonds. The interest coupons to be attached thereto shall be executed with the
facsimile signatures of the Rector of the University of Virginia, the State Treasurer of the State
of Virginia and the Comptroller of the State of Virginia. The bonds and coupons shall be, respectively,
in substantially the following forms

(Form of Bonds)

No

$5,000

United States of America
State of Virginia

THE RECTOR AND VISITORS OF THE UNIVERSITY OF VIRGINIA

STUDENT APARTMENT BUILDINGS REVENUE BOND (SERIES 1962)

The Rector and Visitors of the University of Virginia, for value received, hereby promises to
pay, solely from the special fund provided therefor as hereinafter set forth, to the bearer on the
1st day of October, 19  , upon the presentation and surrender hereof, the principal sum of      

FIVE THOUSAND DOLLARS

and to pay, solely from said special fund, interest thereon from the date hereof at the rate of
.................................. per centum (...................%) per annum until payment of
such principal sum, such interest to the maturity hereof being payable semi-annually on the 1st
days of April and October in each year upon the presentation and surrender of the attached coupons
representing such interest as the same respectively become due. Both the principal of and the
interest on this bond are payable at the office of the State Treasurer in the City of Richmond,
Virginia, in any coin or currency of the United States of America which, on the respective dates
of payment thereof, is legal tender for the payment of public and private debts

This bond shall not be deemed to constitute a debt of the State of Virginia 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 $1,200,000 student apartment buildings revenue
bonds (hereinafter called the "bonds"), known as "The Rector and Visitors of the University of
Virginia Student Apartment Buildings Revenue Bonds (Series 1962)", consisting of bonds maturing in
annual instalments on the 1st day of October, in the years 1964 to 1987, inclusive, and issued for
the purpose of paying the cost of constructing fourteen apartment buildings to house married
students at the University of Virginia, Charlottesville, Virginia (said fourteen apartment buildings
being herein collectively called the "Project"). The proceeds of the bonds are estimated to
be sufficient to pay the cost of the Project

All of the bonds are issued under and pursuant to a resolution (herein called the "Resolution")
duly adopted by the Rector and Visitors of the University of Virginia (herein sometimes
called the "Board") on September 29, 1962. 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 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 Virginia, particularly Chapter 3, Title 23, Code of Virginia, 1950, as
amended. The Resolution provides for the fixing, revising, charging and collecting by the Board
of fees, rents and charges for or in connection with the use, occupation or services of the Project
in order that such fees, rents and charges will be sufficient to provide funds to pay the cost of
maintaining, repairing and operating the Project and to pay the principal of and the interest on
the bonds as the same shall become due and payable. The Resolution also provides for the deposit
of a sufficient amount of such fees, rents and charges over and above such cost of maintenance,
repair and operation, to the credit of a special fund designated "The Rector and Visitors of the
University of Virginia Student Apartment Buildings Revenue Bonds (Series 1962) Interest and
Sinking Fund", to pay the principal of and the interest on the bonds as the same shall become due
and payable, and said special fund is pledged to and charged with the payment of such principal
and interest

As declared by said Chapter 3, this bond shall be fully negotiable within the meaning and for
all the purposes of Chapter 10, Title 6, Code of Virginia, 1950, as amended

All acts, conditions and things required by the Constitution and laws of the State of Virginia
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 Rector and Visitors of the University of Virginia have caused this
bond to be issued in its name, to bear the facsimile signature of the Rector of the University of
Virginia, to be signed by the Comptroller of said University and by the State Treasurer and to be
countersigned by the Comptroller of the State of Virginia, the official seal of The Rector and

and Visitors of the University of Virginia to be impressed hereon, and the attached interest
coupons to be executed with the facsimile signatures of said Rector, State Treasurer and Comptroller
of the State of Virginia, all as of the 1st day of October, 1962.

...............................
Comptroller of the
University of Virginia

...............................
State Treasurer of the
State of Virginia

....................................
Rector of the
University of Virginia

....................................
Comptroller of the
State of Virginia

(Form of Coupons)

No. ........

$................

On ........................... 1, 19..,

The Rector and Visitors of the University of Virginia will pay to bearer at the office of the
State Treasurer in the City of Richmond, Virginia, upon presentation and surrender hereof, the sum
of .................................. Dollars in any coin or currency of the United States of
America which at the time of payment is legal tender for the payment of public and private debts,
solely from the special fund referred to in, and for the semi-annual interest then due upon, its
Student Apartment Buildings Revenue Bond (Series 1962), dated as of October 1, 1962, No. ......... .

..............................
Rector of the
University of Virginia

..............................
State Treasurer of the
State of Virginia

..............................
Comptroller of the
State of Virginia

Section 203. The proceeds (including accrued interest) of the bonds shall be paid into the
State Treasury and deposited to the credit of the special fund hereinafter created and designated
"The Rector and Visitors of the University of Virginia Student Apartment Buildings Revenue Bonds
(Series 1962) Construction Fund" (hereinafter sometimes called the "Construction Fund").

Section 204. In case any bond issued hereunder shall become mutilated or be destroyed or lost,
the Board shall cause to be executed a new bond of like date, number and tenor in exchange and substitution
for and upon the cancellation of such mutilated bond and its interest coupons, if any, or
in lieu of and in substitution for such bond and its coupons, if any, destroyed or lost, upon the
holder's paying the reasonable expenses and charges of the Board in connection therewith and, in the
case of a bond destroyed or lost, his filing with the Board evidence satisfactory to the Board that
such bond and coupons, if any, were destroyed or lost, and of his ownership thereof, and furnishing
the Board with indemnity satisfactory to the Board.