(110 ILCS 405/2) (from Ch. 144, par. 48.2)
Sec. 2.
All such bonds shall be signed by the President and any two members
of the Board of Trustees and shall have the seal of the University affixed
thereto (or a facsimile of the signature of the President of the Board of
Trustees or of said seal or both thereof, may be imprinted, engraved or
otherwise reproduced thereon), and shall be attested by the Secretary of
such Board of Trustees, and in case any officer who shall have signed or
attested any such bonds, or whose facsimile appears on the bonds or
interest coupons shall cease to be such officer, before such bonds shall
have been issued by the Board of Trustees, such bonds may nevertheless be
validly issued by said Board. Said Board of Trustees may provide for
registration as to principal only or as to both principal and interest of
any such bonds. All interest coupons shall be authenticated by the
facsimile signatures of the President and Secretary of The Board of
Trustees of the University of Illinois. Such bonds shall be payable only
from the revenues of any such building, buildings, facility or facilities
or any combination thereof, and, when authorized by the Board of Trustees,
from University income authorized by law to be retained in the treasury of
the University, and applied as a supplement to such revenues, and shall in
no case be or become a charge or debt against the State of Illinois or The
Board of Trustees of the University of Illinois, and such fact shall be
plainly stated on the face of each bond.
(Source: Laws 1957, p. 1716.)
|