 | Board of Visitors minutes February 20, 1960 |  |
ARTICLE VIII
FORMS OF BONDS
SECTION 8.01. The Coupon Bonds, the interest coupons to be attached to the Coupon
Bonds, Provisions for Registration to appear thereon, form of Registered Bond, the Form of
Assignment and the form of Payment Record to appear thereon, shall be in substantially the
following form, respectively
(FORM OF COUPON BOND)
UNITED STATES OF AMERICA
STATE OF VIRGINIA
RECTOR AND VISITORS OF THE UNIVERSITY OF VIRGINIA CLINCH VALLEY COLLEGE
FACULTY HOUSING BOND OF 1958
No. _____
$1,000
The Rector and Visitors of the University of Virginia, Charlottesville, Virginia
(herein called the "Board"), a public corporation and governmental instrumentality of the
State of Virginia, acknowledges itself indebted and for value received hereby promises to
pay to bearer, or, if this Bond be registered as to principal, to the registered owner hereof,
on the 1st day of November, 19__, unless this Bond shall be redeemable and shall have been
duly called for previous redemption and payment of the redemption price shall have been duly
made or provided for, the principal sum of One Thousand Dollars ($1,000) and to pay interest
on such principal sum from date hereof at the rate of __________per centum (_____%) per
annum, payable semi-annually on the first day of May and November in each year, until the
principal hereof has been paid, only upon presentation and surrender of the coupons hereto
attached as they severally mature.
The principal of, the premium, if any, and the interest on, this Bond shall be payable
at the principal office of the Treasury Board of the State of Virginia, Richmond, Virginia,
or, at the option of the holder, at The Chase Manhattan Bank, in the Borough of Manhattan, City
and State of New York, in any coin or currency which, on the respective dates of payment, is
legal tender for the payment of debts due the United States of America.
This Bond is a special obligation of the Board, and is one of an issue of Bonds issued
by the Board pursuant to Chapter 3, Title 23, of the Code of Virginia, 1950, as amended, and
pursuant to a resolution of the Board entitled "Resolution authorizing the issuance of One Hundred
Fifty Thousand Dollars ($150,000) principal amount of Clinch Valley College Faculty Housing
Bonds of 1958 of the Rector and Visitors of the University of Virginia, fixing the form and
other details, securing the payment and providing for the rights of the holders thereof" (herein
called the "Resolution"), duly adopted by the Board to finance the construction of six single-family
dwellings and a four-unit apartment building, each with necessary appurtenant facilities
to house ten faculty families at Clinch Valley College of the University of Virginia, located
in Wise, Virginia (herein called the "Project"), and this Bond and the Bonds of the issue of
which it is a part are payable solely from the Gross Revenues of the Project after payment of
the Current Expenses of the Project, and from such other sources as provided in the Resolution.
Reference is hereby made to the Resolution for a description of the nature and extent of the
security for the Bond, the funds and revenues pledged, the nature and extent and manner of enforcement
of the pledge, the rights and remedies of the holder hereof with respect thereto, the
terms and conditions upon which the Bond is issued and the rights and obligations of the Board.
Coupon Bonds of this issue, of which this Bond is one, are numbered consecutively from
M1 to M150, inclusive, in the order of maturity. Bonds numbered M1 to M21, inclusive, maturing
November 1, 1960 through November 1, 1968, inclusive, are not subject to redemption prior to the
respective maturities thereof.
Bonds numbered M22 to M 120, inclusive, maturing November 1, 1969 through November 1,
1993, inclusive, are subject to redemption prior to the stated maturities thereof at the option
of the Board on any interest payment date after November 1, 1968, as a whole, or, from time to
time, in part, in inverse numerical order, the redemption price to be paid with respect to each
such Bond to be the percentage of the principal amount thereof as set forth below, plus accrued
interest thereon to the date fixed for redemption, to-wit
| If Redeemed | Redemption Price (Percentage of Principal amount Paid) |
| On or after May 1, 1969 to and including November 1, 1973 |
103.00% |
| Thereafter to and including November 1, 1978 | 102.50% |
| Thereafter to and including November 1, 1983 | 102.00% |
| Thereafter to and including November 1, 1988 | 101.50% |
| Thereafter at | 101.00% |
Bonds numbered M121 to M 150, inclusive, maturing November 1, 1994 through November
1, 1998, inclusive, are subject to redemption prior to their stated maturities, at the option
of the Board, in whole, or, from time to time, in part, in inverse numerical order on any interest
payment date from and after the issuance and delivery thereof at a redemption price equal
to the principal amount thereof, plus accrued interest to the date fixed for redemption.
In the event that the Board shall exercise its option to redeem any of the Coupon Bonds
of the issue of which this Bond is one prior to the stated maturities thereof, Coupon Bonds numbered
M121 to M150, inclusive, shall first be redeemed.
Notice of any such redemption shall be given by registered mail to the registered
owners of the Bonds to be redeemed at their addresses appearing upon the bond registry books
at least thirty (30) days prior to the date fixed for redemption, and unless all of the Bonds
to be redeemed have been registered as to principal, notice of such redemption shall be given
by publication, one time only, in a financial newspaper published in the English language and
of general circulation in New York, New York. Said notice shall be published not more than
forty (40) nor less than thirty (30) days prior to the date fixed for redemption, unless waivers
of such notice of redemption shall have been duly filed in accordance with the provisions of the
Resolution. Bonds called for redemption shall cease to bear interest from and after the date
fixed for redemption unless presented for redemption on that date and not paid in accordance
This Bond and the Bonds of the issue of which it is a part are issued pursuant to
and under the authority of and in strict compliance with the Constitution and statutes of the
State of Virginia.
This Bond is subject to the Provisions for Registration endorsed on the back hereof
and, unless registered as to principal in accordance with such Provisions for Registration,
is transferable by delivery.
It is hereby certified, recited and declared that all acts, conditions and things
required by the Constitution and statutes of the State of Virginia to exist, to have happened
and to have been performed precedent to and in the issuance of this Bond, do exist, have
happened and have been performed in due time, form and manner as required by law.
IN WITNESS WHEREOF, the Board has caused this Bond to be executed in its name by its
President and the corporate seal of the said Board to be hereunto affixed and attested by the
Secretary of the Board, and the interest coupons hereto attached to be executed by the facsimile
signature of the said President, all as of the 1st day of November, 1958.
THE RECTOR AND VISITORS OF THE
UNIVERSITY OF VIRGINIA
By____________________
President
ATTEST
____________________
Secretary
(FORM OF COUPON)
No._____
$_____
On the 1st day of __________, 19__, unless the Bond hereinafter mentioned
shall be redeemable and shall have been duly called for previous redemption and payment of
the redemption price duly made or provided for, the Rector and Visitors of the University of
Virginia, Charlottesville, Virginia, a public corporation and governmental instrumentality
of the State of Virginia, will pay to bearer, at the principal office of the Treasury Board
of the State of Virginia, Richmond, Virginia, or, at the option of the bearer hereof, at the
principal office of The Chase Manhattan Bank, in the Borough of Manhattan, City and State of
New York, upon surrender hereof, and solely from the revenues applicable to the payment hereof
as provided in said Bond the sum of ____________________ Dollars ($__________),
in any coin or currency of the United States of America which at the time of payment hereof
is legal tender for the payment of debt due the United States of America, being the interest
then due on its Clinch Valley College Faculty Housing Bond of 1958, dated November 1, 1958,
and numbered M_____.
THE RECTOR AND VISITORS OF THE
UNIVERSITY OF VIRGINIA
By ____________________
President
(FORM OF REGISTRATION)
This Bond may be registered as to principal only in the name of the holder on books
of registration to be kept at the principal office of the Treasury Board of the State of Virginia
in Richmond, Virginia, such registration to be noted in the registration blank below.
After such registration no transfer hereof shall be valid, unless made on said books and similarly
noted hereon, but such registration may be made to bearer and thereupon transferability
by delivery shall be restored, after which this Bond, from time to time, again may be registered,
or may be made transferable by delivery as before. The registration of this Bond as to principal
only shall not affect the negotiability of the coupons hereto attached, which always shall
continue to be payable to bearer and to be transferable by delivery merely.
(Notice No writing on this Bond except by the Registrar)
DATE OF REGISTRATION
__________
__________
__________
IN WHOSE NAME REGISTERED
__________
__________
__________
SIGNATURE OF REGISTRAR
__________
__________
__________
(FORM OF REGISTERED BOND)
UNITED STATES OF AMERICA
STATE OF VIRGINIA
RECTOR AND VISITORS OF THE UNIVERSITY OF VIRGINIA,
CLINCH VALLEY COLLEGE FACULTY HOUSING BOND OF 1958
No. _____
$_____
The Rector and Visitors of the University of Virginia, Charlottesville, Virginia
(herein called the "Board"), a public corporation and governmental instrumentality of the
State of Virginia, acknowledges itself indebted and for value received hereby promises to
pay to _______________, or his successor (herein called the "Payee"), or his
registered assigns (herein called the "Alternate Payee"), the aggregate principal sum of
__________Dollars ($__________) in installments on November 1 in each of the years
and in the principal amounts as follows
| Year | Principal Amount |
in such coin or currency of the United States of America as at the time of payment shall be
legal tender for the payment of debts due the United States of America, and to pay interest
on the balance of said principal sum from time to time remaining unpaid, in like coin or
currency at the rate of __________ per centum (_____%) per annum from the date hereof,
semi-annually on May 1 and November 1 of each year, commencing May 1, 1959 until the said
principal sum hereof has been paid.
During the time the Payee is the registered owner of this Bond, payment of the
principal installments and interest due shall be made at The Federal Reserve Bank of Richmond,
Richmond, Virginia, or such other fiscal agent as the Payee shall designate (herein
called the "Fiscal Agent"). During such time as an Alternate Payee is the registered owner
hereof, said payments, together with premiums due upon prepayment of installments of principal,
if any, shall be made at the principal office of the Treasury Board of the State of
Virginia, Richmond, Virginia. During such time as the Payee is the registered owner of this
Bond, payments of the principal installments and interest, including prepayments of principal
installments as hereinafter provided, shall be made by the Board through the Treasury
Board without presentation and surrender of this Bond to the Fiscal Agent and said payments
shall be noted on the Payment Record made a part of this Bond, and if payment is made at the
office of the Fiscal Agent written notice of the making of such notation shall be promptly
sent to the Treasury Board at its principal office in Richmond, Virginia, and such payments
shall fully discharge the obligation of the Board hereon to the extent of the payments so
made. If the Payee shall assign this Bond, as hereinafter provided, the Alternate Payee
shall surrender the same to the Treasury Board either for exchange for a new Registered Bond
in the unpaid principal amount of this Bond, or for a verification of the payments noted
upon the said Payment Record, and thereafter all payments of principal, premiums, if any,
and interest on such Registered Bond shall be made only upon the surrender thereof to the
Treasury Board for the notation of said payments upon the said Payment Record. Upon final
payment of principal and interest, this Bond shall be submitted to the Treasury Board for
cancellation and surrender to the Board.
This Bond, designated as the "Clinch Valley College Faculty Housing Bond of 1958"
is a special obligation of the Board, and is issued by the Board pursuant to Chapter 3, Title
23, of the Code of Virginia, 1950, as amended, and pursuant to a resolution of the Board entitled
"Resolution authorizing the issuance of One Hundred Fifty Thousand Dollars ($150,000)
principal amount of Clinch Valley College Faculty Housing Bonds of 1958 of the Rector and
Visitors of the University of Virginia, fixing the form and other details, securing the payment
and providing for the rights of the holders thereof" (herein called the "Resolution"),
duly adopted by the Board to finance the construction of six single-family dwellings and a
four-unit apartment building, each with necessary appurtenant facilities to house ten faculty
families at Clinch Valley College of the University of Virginia, located in Wise, Virginia
(herein called the "Project"), and this Bond is payable solely from the Gross Revenues of the
Project after payment of the Current Expenses of the Project, and from such other sources as
provided in the Resolution. Reference is hereby made to the Resolution for a description of
the nature and extent of the security for the Bond, the funds and revenues pledged, the nature
and extent and manner of enforcement of the pledge, the rights and remedies of the holder
hereof with respect thereto, the terms and conditions upon which the Bond is issued and the
rights and obligations of the Board.
As provided in the Resolution, this Bond is exchangeable at the sole expense of the
Board at any time, on ninety (90) days written notice, at the request of the registered owner
hereof and upon surrender hereof to the Board at the principal office of the Treasury Board,
for negotiable Coupon Bonds, in the form provided in the Resolution, payable to bearer, registrable
as to principal only, of the denomination of One Thousand Dollars ($1,000) each, in an
aggregate principal amount equal to the unpaid principal amount of this Bond, and maturing in
the respective amounts and at the respective times as the unpaid principal installments hereof.
On any interest payment date, the Board shall have the right to prepay the principal
installments due on and after November 1, 1994, or such lesser portion thereof as it may determine
upon, in inverse chronological order of the said installments and in multiples of One Thousand
Dollars ($1,000), at the principal amount thereof, plus accrued interest to the date of prepayment,
and after the prepayment of all the aforesaid installments, the Board shall have the right
to prepay, on any interest payment date after November 1, 1968, the principal maturing November
1, 1969 through November 1, 1993, inclusive, or such lesser portion thereof as it may determine
upon, in inverse chronological order of the said principal installments and in multiples of One
Thousand Dollars ($1,000) at the prices for each One Thousand Dollar ($1,000) multiple as set
forth below, plus accrued interest thereon to the date fixed for prepayment, to-wit
| If Prepaid | Prepayment Price (Percentage of Principal Amount Paid) |
| On or after May 1, 1969 to and including November 1, 1973 |
103.00% |
| Thereafter to and including November 1, 1978 | 102.50% |
| Thereafter to and including November 1, 1983 | 102.00% |
| Thereafter to and including November 1, 1988 | 101.50% |
| Thereafter at | 101.00% |
provided, however, that so long as the Payee is the registered owner of this Bond, the Board,
at its option, may prepay, on any interest payment date, all the principal installments then
remaining unpaid, or such lesser portion thereof as it may determine upon, in inverse chronological
order of the said installments and in multiples of One Thousand Dollars ($1,000) at
the principal amount thereof plus accrued interest to the date of such prepayment.
Notice of any prepayment shall be given at least thirty (30) days prior to the date
fixed for such prepayment by mailing to the registered owner of this Bond a notice fixing such
date of prepayment, specifying the amount of principal to be prepaid, the premium thereon, if
any, and the amount of accrued interest thereon to the date of prepayment.
This Bond may be assigned. Upon such assignment the assignor, as provided in the
Resolution, shall promptly notify the Board thereof, at the office of the Treasury Board by
registered mail, and the Alternate Payee shall surrender the Bond to the Treasury Board either
for verification of the notations of the payments of principal and interest and prepayments
of principal on the Payment Record hereof, and registration on the books of registry in the
name of the Alternate Payee, or, at the option of the Board, in exchange for a new fully
registered Bond, similar hereto, for the then unpaid principal amount hereof.
This Bond is issued pursuant to and under the authority of and in strict compliance
with the Constitution and statutes of the State of Virginia.
It is hereby certified, recited and declared that all acts, conditions and things required
by the Constitution and statutes of the State of Virginia to exist, to have happened and
to have been performed precedent to and in the issuance of this Bond, do exist, have happened
and have been performed in due time, form and manner as required by law.
IN WITNESS WHEREOF, the Board has caused this Bond to be executed in its name by its
President and the corporate seal of the said Board to be hereunto affixed and attested by the
Secretary of the Board, all as of the 1st day of November, 1958.
THE RECTOR AND VISITORS OF THE
UNIVERSITY OF VIRGINIA
By ____________________
President
ATTEST
____________________
Secretary
(FORM OF ASSIGNMENT)
For value received ____________________ hereby sells, assigns and transfers unto
_________________________ the within mentioned Bond, and hereby irrevocably constitutes
and appoints ____________________ attorney to transfer said Bond on the books
of registration in the office of the Treasury Board of the State of Virginia, Richmond, Virginia,
with full power of substitution in the premises.
Dated ____________________
Witness ____________________
Note The signature to this Assignment must correspond with the name as
written on the face of the within Bond in every particular, without
alteration, enlargement or any change whatsoever.
| Due Date | Principal Payment |
Principal Balance Due |
Interest Payment ( %) |
Date Paid |
Name of Paying Agent Authorized Official and Title |
| Principal Due | Principal Payment |
Balance | Date Paid |
Name of Paying Agent Authorized Official and Title |
|
| Date | Amount | ||||
| Board of Visitors minutes February 20, 1960 | |