 | Board of Visitors minutes April 7, 1939 |  |
R. S. COLE MOTOR CO. BONDS:
This corporation advised the University that it was preparing to refinance an
issue of $19,000 1st mortgage bonds, and $14,000 2nd mortgage bonds, dated January 23, 1934,
payable November 25, 1938, with interest @ 6%, secured upon its property on West Main Street,
by new issue @ 5%, dated from May 25, 1939, and that the bonds of these issues now held by
the University, $16,500 of the 1st mortgage issue and $5,000 of the second mortgage issue
(the latter bond being personally endorsed by Mr. Hollis Rinehart) would be either taken
up, or, exchanged for bonds of the new issue as the University may desire. On motion it was
RESOLVED, That the bonds of the R. S. Cole Motor Co. now held by the
University, as set out above, be exchanged for like amounts of the new issue, with
the $5,000 second mortgage bond being endorsed by Mr. Hollis Rinehart.
(Mr. Rinehart was excused from voting.)
| Board of Visitors minutes April 7, 1939 | |