201

Special Meeting
December 20, 1958

a loan not to exceed $350,000 will be negotiated to aid in the cost of constructing, furnishing and equipping the proposed Nebraska Center for Continuing Education to be financed in part by a grant from the W. K. Kellogg Foundation in the sum of $1,500,000 and in part by pledges already received by the University of Nebraska Foundation and reported this day by the Foundation to be in the sum of $1,011,880, towards the total share required to be raised by the University in the sum of $1,142,000.

Authorized to sign Trust Agreement

First National Bank of Lincoln, Trustee

It was moved by Regent Welsh, seconded by Regent Greenberg, motion put to vote and carried, directing the president and corporation secretary of the Board of Regents shall be authorized to sign in behalf of the Board, the following Trust Agreement with the First National Bank of Lincoln, Nebraska, for the issuance of revenue bonds in the sum of $350,000 for the purpose of aiding in the construction of the proposed Nebraska Center for Continuing Education.

TRUST AGREEMENT

THIS AGREEMENT, made and entered into this 20th day of December, 1958, by and between THE BOARD OF REGENTS of the University of Nebrska, hereinafter sometimes referred to as the "Board of Regents", Party of the First Part, and THE FIRST NATIONAL BANK OF LINCOLN, a national banking association with its office in Lincoln, Nebraska, hereinafter referred to as "Trustee", Part of the Second Part,

WITNESSETH: That

WHEREAS, the Board of Regents has determined it is desirable and necessary to conduct continuing education for both youth and adults under the Educational Extension Program and for that purpose it is necessary to construct, operate and maintain adequate facilities on the Campus of the University of Nebraska College of Agriculture in Lincoln, Nebraska, said facilities hereinafter referred to as The Center. Preliminary plans have been prepared by Selmer A. Solheim & Associates of Lincoln and Welton Becket & Associates of Los Angeles, California, and the estimated cost of the construction, together with the necessary furniture, fixtures and equpment therefor, is $2,665,000. The cost of constructing said building and furnishing and equipping the same is to be financed by a grant from W. K. Kellogg Foundation in the sum of $1,500,000, a pledge in the sum of not less than $815,000 from the University of Nebraska Foundation, and the balance issuance of Revenue Bonds under the provisions of Sections 85-403 to 85-411, Reissue Revised Statutes of Nebraska, 1943, herinafter referred to as Revenue Bonds, and

TRUST AGREEMENT

WHEREAS, it is necessary to provide for the handling and disbursement of the funds derived from the Revenue Bonds and to provide for the use of funds derived from the operation of The Center so as to insure the payment of the Revenue Bonds, both principal and interest, as the same mature,

NOW THEREFORE, in consideration of the premises and the covenants and agreements herein contained to be mutually kept and performed by the Parties hereto and of the purchase of said Revenue Bond by the holder thereof, it is agreed between the Parties as follows:
I
The Board of Regents agrees to construct on the Campus of the University of Nebraska College of Agriculture in Lincoln a building to be known as The Center substantially as provided in the preliminary plans of the above named Architects dated September 17, 1958, said construction to commence in the Spring of 1959 and to be completed, ready for occupancy and use, within a reasonable time thereafter, and agrees to operate said Center to the best of its ability from the time it is completed until the Revenue Bonds are paid in full and to establish and maintain such schedule of rates, fees and charges for the use of the facilities afforded by The Center as required to provide funds to operate and maintain The Center and to pay the principal and interest on the Revenue Bonds as the same become due and to establish not

Continued

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Special Meeting
December 20, 1958

a loan not to exceed $350,000 will be negotiated to aid in the cost of constructing, furnishing and equipping the proposed Nebraska Center for Continuing Education to be financed in part by a grant from the W. K. Kellogg Foundation in the sum of $1,500,000 and in part by pledges already received by the University of Nebraska Foundation and reported this day by the Foundation to be in the sum of $1,011,880, towards the total share required to be raised by the University in the sum of $1,142,000.

Authorized to sign Trust Agreement

First National Bank of Lincoln, Trustee

It was moved by Regent Welsh, seconded by Regent Greenberg, motion put to vote and carried, directing the president and corporation secretary of the Board of Regents shall be authorized to sign in behalf of the Board, the following Trust Agreement with the First National Bank of Lincoln, Nebraska, for the issuance of revenue bonds in the sum of $350,000 for the purpose of siding in the construction of the proposed Nebraska Center for Continuing Education.

TRUST AGREEMENT

THIS AGREEMENT, made and entered into this 20th day of December, 1958, by and between THE BOARD OF REGENTS of the University of Nebrska, hereinafter sometimes referred to as the "Board of Regents", Party of the First Part, and THE FIRST NATIONAL BANK OF LINCOLN, a national banking association with its office in Lincoln, Nebraska, hereinafter referred to as "Trustee", Part of the Second Part,

WITNESSETH: That

WHEREAS, the Board of Regents has determined it is desirable and necessary to conduct continuing education for both youth and adults under the Educational Extension Program and for that purpose it is necessary to construct, operate and maintain adequate facilities on the Campus of the University of Nebraska College of Agriculture in Lincoln, Nebraska, said facilities hereinafter referred to as The Center. Preliminary plans have been prepared by Selmer A. Solheim & Associates of Lincoln and Welton Becket & Associates of Los Angeles, California, and the estimated cost of the construction, together with the necessary furniture, fixtures and equpment therefor, is $2,665,000. The cost of constructing said building and furnishing and equipping the same is to be financed by a grant from W. K. Kellogg Foundation in the sum of $1,500,000, a pledge in the sum of not less than $815,000 from the University of Nebraska Foundation, and the balance issuance of Revenue Bonds under the provisions of Sections 85-403 to 85-411, Reissue Revised Statutes of Nebraska, 1943, herinafter referred to as Revenue Bonds, and

TRUST AGREEMENT

WHEREAS, it is necessary to provide for the handling and disbursement of the funds derived from the Revenue Bonds and to provide for the use of funds derived from the operation of The Center so as to insure the payment of the Revenue Bonds, both principal and interest, as the same mature,

NOW THEREFORE, in consideration of the premises and the covenants and agreements herein contained to be mutually kept and performed by the Parties hereto and of the purchase of said Revenue Bond by the holder thereof, it is agreed between the Parties as follows:
I
The Board of Regents agrees to construct on the Campus of the University of Nebraska College of Agriculture in Lincoln a building to be known as The Center substantially as provided in the preliminary plans of the above named Architects dated September 17, 1958, said construction to commence in the Spring of 1959 and to be completed, ready for occupancy and use, within a reasonable time thereafter, and agrees to operate said Center to the best of its ability from the time it is completed until the Revenue Bonds are paid in full and to establish and maintain such schedule of rates, fees and charges for the use of the facilities afforded by The Center as required to provide funds to operate and maintain The Center and to pay the principal and interest on the Revenue Bonds as the same become due and to establish not

Continued

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