202
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12 revisions | Phil at Jul 01, 2023 03:37 PM | |
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202Special Meeting later than July 1, 1964, and maintain thereafter, a Bond Reserve Fund of not less than $27,500.00. In event the operating revenues are otherwise insufficient to pay the expenses of operating and maintaining The Center, to pay the debt service requirements, and to create and maintain the Bond Reserve Fund as herein provided, the Board of Regents agrees to furnish heat, light, power and other similar utilities required for the use and operation of The Center without charging the same to the revenues received from the operation of The Center. II In order to raise funds for the construction, furnishings and equipping said Center the Board of Regents will execute and deliver to the Continental National Bank of Lincoln, Nebraska, its Revenue Bond in the principal amount of $350,000 which bond shall bear interest at the rate of three percent (3%) per anum from date until July 1, 1964, and six percent (6%) per annum thereafter, payable semi-annually thereafter, the Board of Regents shall pay to the Trustee the sum of $13,603 to be applied first to the payment of interest then due for the previous six months and the balance of the principal. The interest shall be computed semi-annually on the unpaid balance of the principal. The maker of the Bond shall have the privilege of paying any amount on any interest payment date and all amounts so paid shall be applied upon the unpaid principal balance and such prepayment shall not reduce the semi-annual installments required to be paid under | 202Special Meeting later than July 1, 1964, and maintain thereafter, a Bond Reserve Fund of not less than $27,500.00. In event the operating revenues are otherwise insufficient to pay the expenses of operating and maintaining The Center, to pay the debt service requirements, and to create and maintain the Bond Reserve Fund as herein provided, the Board of Regents agrees to furnish heat, light, power and other similar utilities required for the use and operation of The Center without charging the same to the revenues received from the operation of The Center. II In order to raise funds for the construction, furnishings and equipping said Center the Board of Regents will execute and deliver to the Continental National Bank of Lincoln, Nebraska, its Revenue Bond in the princi |