University of Virginia Library

ARTICLE II.

Authorization, Form, Execution and Delivery of Bonds

Section 201. For the purpose of paying the remaining part of the cost of the Project, there
shall be issued field house and gymnasium 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 Field House and Gymnasium Revenue Bonds (Series 1964)",
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 February, 1964, shall be stated to mature (without right of prior redemption),
in numerical order, lowest numbers first, on the 1st day of August in the following years and in the
following amounts, respectively

                                     

Year of Maturity	Principal Amount
1966	$25,000
1967	30,000
1968	35,000
1969	40,000
1970	45,000
1971	50,000
1972	55,000
1973	60,000
1974	65,000
1975	$ 70,000
1976	75,000
1977	80,000
1978	85,000
1979	90,000
1980	95,000
1981	100,000
1982	100,000
1983	100,000

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
February and August 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

FIELD HOUSE AND GYMNASIUM REVENUE BONDS (SERIES 1964)

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 August, 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
February and August 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 field house and gymnasium revenue bonds
(hereinafter called the "bonds"), known as "The Rector and Visitors of the University of Virginia Field
House and Gymnasium Revenue Bonds (Series 1964)", consisting of bonds maturing in annual instalments
on the 1st day of August, in the years 1966 to 1983, inclusive, and issued for the purpose of paying
the cost of constructing and equipping a field house and gymnasium at the University of Virginia,
Charlottesville, Virginia (said field house and gymnasium being herein called the "Project"). The proceeds
of the bonds, together with appropriations and reappropriations by the General Assembly of the
State of Virginia and certain other moneys to be made available, 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 December 14, 1963. 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, including a field house and gymnasium fee on each full time student enrolled at
the University of Virginia, 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 Field House and Gymnasium Revenue Bonds (Series 1964) 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
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 February, 1964.

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

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

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

Countersigned

....................................
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
Field House and Gymnasium Revenue Bond (Series 1964), dated as of February 1, 1964, 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 Field House and Gymnasium Revenue Bonds
(Series 1964) 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