University of Virginia Library

Search this document 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
collapse section
 
 
 
 
 
 
 
 
 
 
 
RESOLUTION AMENDING THE MASTER RESOLUTION ADOPTED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF VISITORS OF THE UNIVERSITY OF VIRGINIA ON NOVEMBER 30, 1984, AS AMENDED BY A RESOLUTION ADOPTED BY SAID EXECUTIVE COMMITTEE ON MAY 30, 1985, TO PROVIDE FOR A CHANGE IN THE DEFINITION OF DEFEASANCE OBLIGATIONS THEREIN
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
collapse section
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


3100

RESOLUTION AMENDING THE MASTER RESOLUTION ADOPTED BY THE
EXECUTIVE COMMITTEE OF THE BOARD OF VISITORS OF THE UNIVERSITY OF VIRGINIA ON NOVEMBER 30, 1984, AS AMENDED BY A RESOLUTION ADOPTED BY SAID EXECUTIVE COMMITTEE ON MAY 30, 1985, TO PROVIDE FOR A CHANGE IN THE DEFINITION OF DEFEASANCE OBLIGATIONS THEREIN

  • The following resolution was adopted:
    BE IT RESOLVED that:
  • SECTION 1. The Master Resolution adopted by the Executive Committee of the Board of Visitors of the University of Virginia on November 30, 1984, as amended by a resolution adopted by said Executive Committee on May 30, 1985 (as so amended, the "Master Resolution") is hereby further amended so as to change the definition of the term "Defeasance Obligations" in Section 101 of the Master Resolution to read as follows:
  • "`Defeasance Obligations' means (A) with respect to The Rector and Visitors of the University of Virginia Hospital Revenue Refunding Bonds (Series C) and all subsequent series of Bonds other than The Rector and Visitors of the University of Virginia Variable Rate Demand Hospital Revenue Refunding Bonds (Series D), (i) Government Obligations, (ii) evidences of ownership of a proportionate interest in specified Government Obligations, which Government Obligations are held by a bank or trust company organized and existing under the laws of the United States of America or any state thereof in the capacity of custodian, (iii) obligations of state or local government municipal bond issuers, provision for the payment of the principal and interest on which shall have been made by deposit with a trustee or escrow agent of obligations described in (i) or (ii) above, the maturing principal of and interest on which, when due and payable, shall provide sufficient money to pay the principal of, premium, if any, and interest on such obligations of state or local government municipal bond issuers, (iv) obligations of state or local government municipal bond issuers, the principal of and interest on which, when due and payable, have been insured by a bond insurance company whose obligations are rated in the highest rating category by Moody's Investors Service, Inc. or Standard & Poor's Corporation, and (v) full faith

    3101

    and credit obligations of state or local governmental municipal bond issuers, which are rated in the highest rating category by both Moody's Investors Service, Inc. and Standard & Poor's Corporation, and (B) with respect to The Rector and Visitors of the University of Virginia Variable Rate Demand Hospital Revenue Refunding Bonds (Series D), (i) Government Obligations, and (ii) evidences of ownership of a proportionate interest in specified Government Obligations, which Government Obligations are held by a bank or trust company organized and existing under the laws of the United States of America or any state thereof in the capacity of custodian."
  • SECTION 2. This resolution shall take effect immediately upon receipt of the written consent of The Long-Term Credit Bank of Japan, Limited.