Image 3 of 1999 - Board of Regents Meeting Minutes.

A RESOLUTION OF THE BOARD OF REGENTS OF MURRAY STATE UNIVERSITY AUTHORIZING THE ISSUANCE OF SAID BOARD'S HOUSING _ AND DHQING SYSTEM REVENUE BONDS, SERIES N, TO BE DATED THE FIRST DAY OF THE MONTH IN WHICH SOLD; AUTHORIZING PROPER PROCEEDINGS RELATIVE TO THE PUBLIC SALE OF THE BONDS AND THE DISPOSITION OF THE PROCEEDS THEREOF; AUTHORIZING EPGECUTION OF A FOURTH SUPPLEMENTAL TRUST INDENTURE i BETWEEN THE BOARD AND CHASE MANHATTAN TRUST COMPANY, NATIONAL ASSOCIATION, LOUISVH.LE, KENTUCKY, AS TRUSTEE, IN COMPLIANCE WITH THE PROVISIONS OF THE TRUST INDENTURE DATED SEPTEMBER 1, 1965. WHEREAS, the Board has heretofore determined and does hereby confirm that certain fire safety and maintenance improvements to Elizabeth Hall, Hester Hall, Hart Hall, Regents Hall, White Hall, Clark Hall, Franklin Hall, Springer Hall, Richmond Hall, Winslow Cafeteria, College Courts and appurtenant facilities (collectively, the "Project") for housing and dining purposes are necessary, which improvements shall be a part of the University's Housing and Dining System established in the Trust Indenture between the Board vsdth the Chase Manhattan Trust Company, National Association (as successor in interest to Citizens Fidelity Bank & Trust Company), Louisville, Kentucky, dated September 1, 1965 the "Trust Indenture"); and WHEREAS, the issuance of revenue bonds for the purpose of financing the costs of said Proj ect is authorized under the Trust Indenture; and . WI—IEREAS, the Board has detemiined that it is appropriate at this time that the Board proceed with financing said Project through the issuance of Murray State University Housing and . Dining System Revenue Bonds, Series N (the "Series N Bonds"), said Series N Bonds to be dated the first day of the month in which the Series N Bonds are sold, all in accordance with the right reserved in said Trust Indenture; and WHEREAS, to proceed with the issuance ofthe Series N Bonds, it is necessary for the Board to enter into a Fourth Supplemental Trust Indenture in the form attached hereto. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF REGENTS OF MURRAY STATE UNIVERSITY, AS FOLLOWS: Section 1. This Board hereby authorizes the issuance of its "Murray State University Housing and Dining System Revenue Bonds, Series N (the "Series N Bonds"), in the principal amount of $6,370,000 (plus or minus up to $635,000), according to statutory authority as set forth in KRS 162.340 to 162.380, inclusive, and in accordance with the terms, provisions, conditions and restrictions set forth in that certain Trust Indenture dated September 1, 1965, wherein the present Housing and Dining System of the University was created and established, and a certain Fourth Supplemental Trust Indenture to be dated as ofthe date of the Series N Bonds; said Series N Bonds - 1 - I U 1