Proceedings of the Board of Regents (1963-1966)

APRIL MEETING, 1966

1395

PRINCIPAL PRINCIPAL
YEAR AMOUNT YEAR AMOUNT
1968 $100,000 1987 $200,000
1969 100,000 1988 200,000
1970 100,000 1989 225,000
1971 100,000 1990 225,000
1972 125,000 1991 225,000
1973 125,000 1992 250,000
1974 125,000 1993 250,000
1975 125,000 1994 250,000
1976 125,000 1995 275,000
1977 125,000 1996 275,000
1978 150.000 1997 275,000
1979 150,000 1998 300,000
1980 150,000 1999 300,000
1981 150,000 2000 325,000
1982 175,000 2001 325,000
1983 175,000 2002 350,000
1984 175,000 2003 350,000
1985 175,000 2004 375.000
1986 200,000 2005 375,000
The bonds will be numbered from 1 to 1600, inclusive, in order of
maturity. Bonds numbered 1 through 180, inclusive, maturing on or
before October 1, 1975, shall not be subject to prior redemption, except
where redeemed through the proceeds of insurance. Bonds numbered
181 through 1600, inclusive, maturing October 1, 1976, through October 1, 2005, are callable at the option of the Regents prior to the stated
maturities thereof, in whole or in part and in inverse numerical order
on any interest payment date after October 1, 1975, upon at least
thirty (30) days prior notice, at the principal amount thereof, plus
accrued interest to date of redemption and a premium for each bond
as follows:
3 % if redeemed April 1, 1976. through October 1, 1980;
2y2% if redeemed April 1, 1981, through October 1, 1985;
2 % if redeemed April 1, 1986, through October 1, 1990;
1Y2% if redeemed April 1, 1991, through October 1, 1995;
1 % if redeemed April 1. 1996, through October 1, 2000.
Par if redeemed after October 1, 2000.
The bonds will be issued in coupon form with privilege of registration as to principal only; however, until such time as the purchasers
of the bonds request the preparation of the definitive bonds, a single
bond or bonds shall be issued in an amount equal to the bonds contracted for by said purchaser or purchasers. Principal and semi-annual
interest on the bonds are payable at the office of the Trustee, The Detroit Bank and Trust Company, Detroit. Michigan, or at Chemical
Bank New York Trust Company, New York, New York, as provided
by the bond proceedings.
These bonds are being issued to provide funds for the construction
of five new dormitories to provide housing and appurtenant facilities
for upper-class and graduate students, and a complex consisting of four