MINUTES OF THE SPECIAL MEETING
OF THE
BOARD OF TRUSTEES
THE JUNIOR COLLEGE DISTRICT OF
ST. LOUIS, ST. LOUIS C O U N T Y , MISSOURI
FRIDAY, DECEMBER 2 2 , 1 9 6 7 - 12:00 N O O N
In accordance with Section 1 . 4 . 2 of the District Board Policies and Administrative
O r g a n i z a t i o n M a n u a l , a special meeting of the Board of Trustees of The Junior College
District of St. Louis, St. Louis C o u n t y , Missouri was held on F r i d a y , December 2 2 , 1967
at 12:00 noon at the Central O f f i c e of the D i s t r i c t , 7508 Forsyth B l v d . , St. Louis, Missouri.
1.
GENERAL F U N C T I O N S
1.1
Roll C o l l
In the absence of the President of the Board, the meeting was c a l l e d to order at
12:06 p . m . by the V i c e President of the Board, M r . Lester C . G e ? l .
The f o l l o w i n g
Board members were present:
Mrs. Joseph C . Bastian
Messrs.
Lester C . G e i l
G u y S. Ruffin
Gerald V . Williamson
Also present were Dr. Joseph P. Cosand, President of the D i s t r i c t ; M r . John C .
Robertson, V i c e President for Business; Mrs. Mary Jane C a l a i s , Associate C o o r d i n a t o r ,
Business and Treasurer of the Board of Trustees; Miss Janet Griesbaum, Community Relations
Assistant — a l l of The Junior College District staff.
Also present was M r . Bruce E. Woodruff
of the firm of Armstrong, Teasdoie, Kramer and V a u g h a n , counsel for the D i s t r i c t .
^p>
1.4
Welcome to Guests
Mr. Geil welcomed newspaper reporter, Miss Ruth Thompson of the St. Louis GlobeDemocrat.
5.
BUSINESS A N D FINANCE
5.1
Adoption Of Resolution Authorizing Printing Of Revenue Bonds
The Boo.rd of Trustees then proceeded to take up and discuss the matter
of directing ihe
issuance of revenue bonds to finance a part of the cost of con-
structing, equipping, und furnishing a separate social and recreational building
on each of the three (3) campuses of The Junior College District of Gt. Louis, St.
Louis County, Missouri, whereupon the following resolution v/as presented:
A RESOLUTION DIRECTING THE CONSTRUCTING, EQUIPPING, AND
FURNISHING OF A SEPARATE SOCIAL AND RECREATIONAL BUILDING
CO; EACH OF THE THREE (3) CAMPUSES OF THE JUNIOR COLLEGE
DISTRICT OF ST. LOUIS, ST. LOUIS COUNTY, MISSOURI; DIRECTING THE ISSUANCE OF REVENUE BONDS IN TIE PRINCIPAL AMOUNT
0? THREE MILLION DOLIARS (l^, 000,000) FOR THE PURPOSE
OF PROVIDING PART OF THE FUNDS NECESSARY THEREFOR: FEEING
TIE DATE, MATURITIES, FORM, AND OTHER DETAILS OF SAID
BONDS; AND MAKING COVENANTS AND PROVISIONS FOR THE PAYMENT
OF SAID BONDS AND THE INTEREST THEREON.
WHEREAS, in the opinion of the Board of Trustees of The Junior College
District of S^. Louis, St. Louis County, Missouri, it would be in the best interest
of the said District and of the students attending classes on each of the three (3)
campuses of said District to construct, equip, and furnish upon each of said campuses a social and recreational building, each of which buildings is to be known
as a "Student Union Building"; and
WHEREAS, the said Board of Trustees heretofore hus caused plans and specifications for '.he construction of said Student Union Buildings to be made and here^^
tofore has adopted the said plans and specifications, which now appear and remain
on file in the office of the Secretary of said Board; and
12/22/67
-2-
<
*
Y/IffiHEAS, the said Board of Trustees does now l'ind and determine thut the
cites upon which the said Student Union Buildings are to be constructed heretofore
have been acquired and that fee simple title thereto is now held by said Board;
and
YJIIEREAS, pursuant to proceedings theretofore duly and lawfully had, the
caid Board has awarded and let contracts for the construction of each of the
aforesaid Student Union Buildings at and for an aggregate price and sum of
Four Million, One Hundred Fifty-two Thousand, Twenty-eight Dollars
($ 14,152,028
); and
Y,!u\l\EAS, the said Board decs now further find and determine that the cost
'
of construetine, equipping, and furnishing the Student Union Building on the Forest
Park Campus of said District, including costs necessarily incidental thereto, will
i
'
be as follows:
i
Coat of construction, as per contracts
$ 1,^,00,000
i
Architectural and Engineering Fees
$
ilk,000
(
Furnishings and Movable Equipment
$
150,000
Legal and Administrative Expenses
$
8,500
Contingencies, incidentals, bond discount,
ar.d prorated costs of site improvement and
utility connections
$
25U,900
TOTAL
$ 2,1*27,^00
and
WEEREAS, the said Board does now further find and determine that the cost
of constructing, equipping, and furnishing the Student Union Building on the
Florissant Valley Campus of said District, including costs necessarily incidental
thereto, will be as follows:
12/22/67
-3-
Cost of construction, as per contracts
$ 1,208,028
Architectural and Engineering Fees
$
72,500
Furnishings ar.d Movable Equipment
$
100,000
Legal and Administrative Expenses
$
5,660
Contingencies, incidentals, bond discount,
and prorated costs of site improvement and
utility connections
.
$
288,000
$ 1,67{»,183
TOTAL
and
WHEREAS, the said Board does now further find and determine that the cost
of constructing, equipping, and furnishing the Student Union Building on the Meramec
Campus of said District, including costs necessarily incidental thereto, will be as
fOIIOVG:
Cost of construction, as per contracts
:•; l,0'i'i,GC0
'•','•
Architectural ana Engineering Fees
LAi}LoQ
Furniuhingo a:vu Movable Equipment
. . . . . . . ij
iQG,GuG
Legal and Administrative Expenses
$
'i,000
Contingencies, incidentals, bond discount,
and prorated costs of site improvement ar.d
utility connections
$
276,700
$
1,^67,350
TOTAL
and
WitEHEAS, the said Board of Trustees heretofore has allocated, from the
general fundi; of the District and from the proceeds of certain general obligation
bonds of the District heretofore issued, to the payment of part of the aforesaid
costs of constructing, equipping, and furnishing the aforesaid Student Union Buildings the sum of Two Million, Five Hvidred Eighty-eight Thousand, iiine Hundred Thirtyeight Dollars (g2,:?88,938); ar.d
12/22/67
- A -
WHKliEAS, the naid Board oi' Trustee;;, doer, now find nr.-i determine that, in
4H[
order to provide the balance of the lur.ds necessary Tor the constructing, equipping
and furnishing of the said Student uiion Buildings and coats necessarily incidental
thereto, it will be necessary to icr-c revenue bonds in the principal amount of
Three Million DolLars ($3,000,000); ar.d
WHEREAS, under the provisions of Chapter Y[6,
Vernon's Annotated Missouri
Statutes, the junior college district of the State of Missouri, including The
Junior College District of St. Louir, St. Louis County, Missouri, are authorised to
/
acquire, construct, erect, equip, f'_rnish, operate, control, manage, and regulate
certain defined projects, including :ne (l) or more social and recreational buildings, and are authorized to issue a:-i sell revenue bonds, as defined in said law,
for the purpose of providing funds :"-r the aforesaid purposes; and
WHEREAS, under the provic:..::s of the aforesaid Chapter V(6,
of the said -Beard of Trustees of zz:l
it is the du-y
District, in the issuance of such bonds, to
pledge to the payment thereof, both principal and interest, the net income and revenues of the buildings constructed vi-h the proceeds of such bonds; and
WhEKEAS, the said Board c' 'i'.'usteea docs nov further find anu determine
that it is necessary and advisable :;:_i the revenue Loads hereinafter directed to
be issueu shouiu be secured by u P-~--..;o of the nut income and revenuec of the
aforesaid Student Union Buildings: .u-.J
'.niEKi'.AS, actinc under ar.i pursuant to the provisions of the aforesaid
Chancer 1?'6, the said Board of Tru^.-.-es now finds and determines that it is in the
best interest oi' said District that revenue bonds in the principal aiacunt of Three
Million Dollars ($3,000,000) be isr-ed as hereinafter provided:
12/22/67
-5-
HOW, THEREFORE, BE IT RESOLVED BY TilE BOARD OF TRUSTEES OF TilE JUNIOR
COLLEGE DISTRICT OF ST. LOUIS, ST. LOUIS COUNTY, MISSOURI, AS FOLLOWS:
SECTION 1.
That there shall be constructed, equipped, and furniched on
each of the three (3) present campuses of The Junior College District of St. Louis,
St. Louis County, Missouri, a social and recreational building for the use of students attending classes on each of said campuses, each of which buildings shall be
known and designated hereinafter as a "Student Union Building".
Each of the said
Builaiivs shall be constructed in accordance with plans and specifications therefor heretofore adopted by the Board of Trustees of said District and now on file in
the office of zhe Secretary of said Board.
SECTIOIi 2.
That, for the purpose of providing funds in the amount of
Three Million Dollars ($3;000,000) to apply toward the cost of constructing,
equipping, and furnishing the said Student Union Buildings, as set forth in the
preamble ^o this resolution,there shall be and there are hereby authorized and
directed to be issued the Student Union Revenue Bonds of The Junior College District
of St. Louis, St. Louis County, Missouri, in the principal amount and sum of Three
Million Dollars ($3,000,000).
The said Revenue Bonds shall bear date of January 1,
1968; shall be numbered from One (l) to Six Hundred (600), both inclusive; shall
be of the denomination of Five Thousand Dollars ($5,000) each; shall bear interest
at the rates per annum hereinafter set forth, payable July 1, 19&3, and semiannually thereafter on January 1 and July 1 in each year until the principal thereof,
respectively, shall have been fully paid; and the said bonds shall bear- interest
at the rr.tea a-.M shall inature in the amount, a»d at the thacs hereinafter set forth,
r.; follows:
12/22/67
-6-
v \ : , ) ?."?;^v:•::;:•^:
•
i-iv-:••'•:. :v
1 to
w, I n c l u s i v e
9 l o 1Y
"
16 t o 26
"
27 t o ~,6
"
• • t o 36
"
:.- ,o- 57
"
•;.; t o 6 3
"
••9 t o GO
"
^1 t o 93
"
•:•'••• t o i b o
''
10." .0 J20
"
-:i t o 1^5
"
1-6 t o 151
"
1S2 t o 168
"
.09 , 0 106
"
.13' ;.o :"!0i;
"
L'.:-5 t o 22-?
"
S 3 , t o 2'-M
"
2-5 t o 266
"
267 t o 239
"
2 - 0 t o ',j/-.
"
-••J- t o 339
"
6','
C;.
06
6'.
63
5-3/Vv
5-3/'-.-.
5-3/-3
5-3 A
9-3/'-,
'.'-';>!•<.
5-3/'-t
3-5A'
5-3A;.
5-3/i-t
'•-?•/'••.
3-3/1''.
5-3/ ; <3
5-3A'3 :
5-3A
3-3/-3
5-3/V
310
Z-l"'
3^5
325
;,57
O5O
525
562
3-3A,;
5-3A\
5-3/^3
5-3/L6
5-3A3
5-3/ i -3
5-3A35-3/^
to
to
to
to
to
to
to
to
366
39^
i-:2t
h^S
US9
52U
561
600
"
"
"
•'
"
"
':
"
ij-liiiiii!
v ;iv,uOw
V,,000
',5,000
50,000
30,000
$5,000
53,000
60,000
03,000
05^00
70,0-00
7>,000
Go,coo
85,000
90,000
90,000
95,000
105,000
110,000
115,000
120,000
130,000
135,000
130,000
150,000
160,000
165,000
175,000
165,000
195,000
r-MWTTY
J u l y 1,
J u l y 1,
J u l y 1,
J u l y 1,
J u l y 1,
J u l y 1,
J u l y 1,
J u l y 1,
J u l y 1/
0'ui.y
J u l y 1,
J u l y 1,
J u l y 1,
J u l y 1,
J u l y 1,
J u l y 1,
J u l y 1,
J u l y 1,
J u l y 1,
J u l y 1,
J u l y 1,
J u l y 1,
1973
19T^
1975
1976
1977
1978
19Y9
19-0
19-31
1, 1902
]')::;
19^;
1365
19..6 •
19^7
..'933
I909
1990
1991
1992
1993
199^1
July
July
July
July
July
July
July
July
1995
1996
199Y
1993
1999
2000
2001
2002
1,
1,
1,
1,
1,
1,
1,
l,
T";ie r i g h t s h a l l be and i s hereby reserved unto the s a i l D i s t r i c t ,
at
i t s o p t i o n , t o c a l l i n , pay, and redeem bcnic numbered F i f t y - e i g h t ( 5 8 ) t o
S i x Hundred ( 6 0 0 ) , both i n c l u s i v e , o f t h e a f o r e s a i d i s s u e , i n i n v e r s e numerical
o r d e r , on July 1, 1978, or on any i n t e r e s t r.;,y^.ent date t h e r e a f t e r p r i o r t o maturi t y , upon the g i v i n g o f w r i t t e n n o t i c e t o the bank named in s a i d bonds as the payi n g a g e n t t h e r e f o r , n o t l e s s than t h i r t y ( 2 0 ) nor nore than s i x t y ( 6 0 ) days p r i o r
t o the dute f i x e d f o r t h e redemption o f such bonds, a t par and accrued i n t e r e s t t o
12/22/67
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?:
31
:!
.
.
•
>
I
\
:
'•
date of redemption, pluc a premium of One Hundred Twenty-five Dollars ($125) per
V
bond.
In addition, during the period July 1, 1973, to January 1, 1978, inclusive,
the rifUit shall "be and is hereby reserved unto the said District, at its option,
to call in, pay, and redeem, solely from the net income and revenues and fee charged
"
each student pledged to the payment of sulci bona;.; and the interest thereon, bonds
numbered I.ine (9) to Six Hundred (COO), both inclusive, of the aforesaid issue, in
inverse numerical oruer, on any interest payment dai.v:, upon Li;e j'.iviui' Of notice as
aforesaid, at par and accrued interest plus a premium of One hundred Twenty-five Dollars (£I2>) per bond,
No further interest shall accrue on any bonds thus called for
redemption from and after the date specified in any such call i'or the payment and
redemption thereof.
SUCTION 3-
That both the principal of ar.d the interest on said Student
^^Unicn Revenue Bonds shall be payable in lawful money of the United States of America
cz the office of
the Mercantile Trust Company National Association
in the City of
St. Louis
, State of
Missouri
,
.
SECTION •+. That the said Student Union Revenue Donds shall be executed by
the facsimile signature of the President of the Board of Trustees of said District,
attested by the manual signature of the Secretary of said Board, under the seal of
stid District Imprinted thereon in facsimile, and the interest coupons to be attached
to said bonds shall be executed with the facsimile signature of said Secretary.
SECTION 5-
That the said Student Union Revenue Bonds shall be negotiable
instruments within the meaning o£ the Uniform Commercial Code, and the said bonus
and the interest coupons to be attached thereto shall be in substantially the follow•};:•••-• inc forms, to-wit:
12/22/07
_8-
UNITED I;TAT^S os AK.\;!ICA
STATIC
I
o:-' M i ^ o j i - ; i
:•
TiK JUNIOR COLLUCL. iiiLTiiU'i'
0 ? S T . LOUIS, ST. LOUIS CUJil'i'Y, MISSOURI
STUDSIiT UNION REVLiJui: LOIiB
r
iroi-ffiER
:;;5,ooo
Trie Junior Coilecc District or Su. Louis, St. Louis County, 2<lisso.iri,
accinj herein by and through the Board oi' Trustees or said District, i'or value received, hereby acknowledges itself indebted and promises to pay to bearer, but only
cut of zi-.c Student Union Buildings Revenue Bonds Interest and Sinking Fund Account,
z.z hereinafter provided, and not otherwise, xhe suir; of
FIVE TK0USA1ID DOLLARS
i^jOQQ)
on the first day of July,
rate of
, and to pay interest on said sum at the
per centum (
£) per annum, payable
July 1, 196G), and semi-annually thereafter en January 1 and July 1 in each year unc i ! the principal hereof shall be paid.
Interest accruing on this bond on and prior
to the maturity date hereof shall be payable upon presentation and surrender of the
interest coupons hereto attached as they severally become due, but no interest
shall accrue on this bond after the maturity date hereof unless chis bond be presented for payment at maturity and be not then paid.
The right is reserved unto the aforesaid District, at its option, to
call in, pay, and redeem bonds numbered Fifty-eight (58) to Six Hundred
(600)j both inclusive, of the issue of which this bond is one, in inverse numerical
order, on July 1, 1973> or on any interest payment date thereafter prior to maturity, upon the Giving °f written notice to the bank named herein not less than thirty
12/22/67
_ 9.
•
(30) nor more than sixty (60) days prior to the date fixed for the redemption of
zu.ch
bonds.. 3or.de so called in for redemption, prior to maturity shall be redeemable
at par and accrued interest to date of redemption, plus a premium of One Hundred
Twenty-five Dollars ($125) Per
•*
\o
bond.
J;'.:u:ary I, •;';«•., i:"..'lw.~ I .e, the r.',;!.^ .'.:; :v.,i.:";i..! u.,to the »J.i! LJ:; uri -:t.
',j^..io::_,
_!_C
to
C.-';J
Cliar, .CI
at its
v.j f'-y, --• • -"*•-• •;ecm, sole"":,',' .'."•>::". the net inewir.e ,'u.u rc'.er.Le.; ana
e.V'i'. .VLUC.ont
p . C o . "Oil \,0 t.;>
• .^'i..
,
Oi' i.,.i-U
ti^orcc:., tonds :v>:m'.:creJ liir.c (9) to Six hundr... •
-•z~'\
1913,
In addition, during the period July 1,
(LOO),
l.-uwii.'; i;;>ij "Li it.* J.ili/Cl't.lu
both inclusive, or the afore-
i::::ue, J:: inverse numerical order, on any interest poyment catc, upon the riving
w ' not;ee
.;:'. :. .'o,•••.:;;..'. ,
a t '.•<•'.' iiiul .••.-e.'ni ii
•T'-'entii-five dollars (0125) per bond.
'. n
.-(•:. I, ti!.;:;; .1 n r e i u Luili o f
O n e liiuuJ i.v<i
IIo further interest shall accrue on any bonds
thus called for redemption from and after the date specified in any such call for
the payment ar.e redemption thereof.
Both the principal of and the interest on this bond arc payable in lavf-1 money of the United States of America at the office of
Cc-:t::,ny :::.tiontl Arscciatic.t
, in the City of
the Mercantile Trust
St. Louis
}
state of
Missouri
1rnis bond is one of a series of six hundred (600) bonds, numbered from
One (l) to Six Hundred (600), both inclusive, aggregating the principal amount of
Ir.ree Million Dollars ($3^000,000), all of lihe date, tenor, and effect, except as
to rate of interest, date of maturity, and provision for redemption prior to matur;..
ity, authorizes by the Beard of Trustees of 'fhe Junior College District of St. Louis,
St-. Louis County, Missouri, to be issued to provide funds for the constructing,
equipping, and furnishing of a separate social and recreational building on each of
4 ^
the three (3) campuses of the District, each such building to be known and desig-
12/22/67
- 10 -
i
;
W^
rated as a Student Union Building and is issued under and pursuant to the provisions
of Chapter 116,
Vernon's Annotated Missouri Statutes, and pursuant to proceedings
ana-resolutions of the said Board of Trustees duly and legally had and adopted.
This bond is payable, both as to principal and interest, solely and onlyout of the net income and revenues arising fron -he operation of the aforesaid
social and recreational buildings, and the said net income and revenues shall be set •
aside for that purpose in a special fund identified as the STUDENT UNION BUILDINGS
HEVE^LJE BOIIDG ITITEREST AND SINKING IUND ACCOUIiT. This bond shall not be deemed to be
an indebtedness of The Junior Collece District cf St. Louis, St. Louis County, Missouri,
the Board of Trustees of said District, or the i.:-ividual numbers of said Board;
however, uhe said Board of trustees covenants a:;! agrees with each and every hoiacr
of any of said bonds that it will apply the prcc-.cis thereof to the purposes for
^t
vr.ieh said bonds are authorised to be issued; t-._t it will continuously operate
the aforesaid Student Union Buildings at all ti:s:s when the college campuses operated by the said District are in session; that it will adopt such regulations and
..ill fix una i.-.aintain such reasonable rates ana tr.arges for the use of said Student
union Buildings and the facilities thereof, incl-dinc a per capita student fee
for ti.e use cf the said Buildings and faci-itiv.-.., as will in its judgment provide
revenues sufficient to pay tr.e reasonable cost cf operating and rruxintaining said
Buildings anc facilities, to provide and. nuxintais, the aforesaid Interest and Sinkis^ Fund Account in an ar.tour.t adequate promptly to pay the principal of and the
an terest on this bond and the issue of which it :'sr;r.s a part, as the same become
aue, to proviuc a reasonable reserve fund, ana to provide a reasonable fund for
denveeiawion; and that it v;ill collect, account for, and apply the aforesaid reve..tts
ail ir. accordance with and as provided for by the resolution pursuant to which
».._:; bond is Issued, as adopted by said Board en the
—V'O
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12/22/67
- 11 -
rii-r.d day of
December
,
Wr
It is hereby certified, recited, and declared that all acta, conditions,
ar.d things required to exist, to happen, and to be performed precedent to and in
the issuance of this bond have existed, have happened, and have been performed in
due time, form, and manner, as required by law; and that the amount of this bond,
together with all other bonds of the issue of which this bond is one, does not exceed any limit prescribed by the Constitution or Statutes of the State of Missouri.
IK WITNESS WHEREOF, The Junior College District of St. Louis, St. Louis
County, Missouri, has caused this bond to be executed by the facsimile signature of
the President of its Board of Trustees, attested by the ;nanual signature of the
Secretary of said .Ecard, under the facsimile seal of said bo-.rd, anu<bas caused the
interest coupons hereto attached to be executed by the facsimile^signaturej-.pf said
president and said Secretary and this bond to be dated t.-;j first day of January,
v
..
Till-: o"u;-iio:-. C O L L K G K
J)I:A'RICT O F S T .
LOUIS, ST. LOUIS COUNTY, MISSOURI
By
P r e s i d e n t , Board of Trustees
Attest:
Secretary, Uoard of Trustees
(FORM OF INTEREST COUPOI.'S)
§
::°.
On the first day of
January,
July,
, unless tr.o hereinafter mentioned
bond then shall be callable for redemption, theretofore shall have "aeon called for
redemption, ana provision for such redemption shall have been duly made, The Junior
College District of St. Louis, St. I.^uis County, Missouri, acting by and through
12/22/67
- 12 -
Jfe
the Bor.r.. of Trustees of said District, will pay to bearer, solely out of the Account specified in the bond with which this coupon is identified, the amount set
forth or. -.his coupon in lawful money of the United States of America at the office
of
the ..-jrcantile Trust Company National Association
St. 1 :.-:is
3 State of
Missouri
}
in tho City of
, being interest due that date on its
Student Vr.ion Revenue Bond dated January 1, 1968, and numbered
.
THE JUiJIOR COLLEGE DISTRICT OF ST.
LOUIS, ST. LOUIS COUNTY, MISSOURI
By
:
President, board of Trustees
Attest:
Secretary, Board of Trustees
SECTION 6.
That, when the said bonds shall have been prepared and exe-
cuted at hereinabove directed, they shall be registered in the office of the Treasurer of i'..e Eoard of Trustees of said District in a book to be provided for that purpose, shaving the number, the denomination, the interest rate, the place of payment,
and the ~ue date of each bond, and to whom it was sold and delivered, with the date
of sue!: ...^e and delivery; anu there shall be provided on the reverse of each of said
bonds a :ora of certificate for execution by the said Treasurer, substantially a»i
follows;
It is hereby certified that the within bond has been
registered in my office in a book kept for that purpose.
Treasurerj bouru of Trustees of Tne
Junior Colic;v District 01' St. Louis,
St.. Louis County, Missouri.
12/22/67
- 13-
SECTION 7-
That, from and after the completion of the constructing,
equipping, and furnishing of the Student Union Buildings as herein provided for,
the said Student Union Buildings and the respective facilities thereof and therein
shall be operated on a fiscal year "basis beginning on the 1st day of July in each
year and ending on the 30th day of June the following year and that, from and after
the completion of the constructing, equipping, and furnishing of the aforesaid Student Union Buildings, the gross income and revenues derived from fees and charges
collected for the use of the said Buildings and the facilities thereof and therein,
and all Ooher revenues earr.ed by said Buildings and said facilities of every kind
and character, including the per capita studeu- fee for the use of the said Buildings and facilities, shall be set aside in a separate and special fund as hereinafter provided.
All of the said revenues in this Section referred to shall be set
aside in special accounts to be used to pay (a) the reasonable cost of operating
and maintaining said Student Union Buildings and the facilities thereof and therein,
(b) to provide and maintain an interest and sinking fund in an amount adequate promptly
to pay the principal of and the interest on the bonds herein directed to be issued,
(c) to provide a reasonable reserve fund, and (d) to provide a reasonable fund for
depreciation, all as hereir.after ttore particularly set forth.
SECTION S.
That, inimediately upon xhe delivery of the bonds herein di-
rected to be issue'd, out of the proceeds of the per capita student fee heretofore
charged and the profits heretofore derived from campus bookstore operations conducted
by the District, the STUDE:,-: UI.TON REVENUE BONDS RESERVE ACCOUNT hereinafter created
end designated shall be established, and the remainder of such proceeds and profits
. chall be placed to the credit of the Fund hereinafter created and established in
12/22/67
. 14.
t;;itf I'.'ir . i.iiiii.
'i'lu-('i-'i41'tc-r, l.it«* a |V.|. i.r t . : i.u.l.ni, wnii.-u i.iil l.i i i<;;i i.i.il I,hi' .! . c i . i -
>j.va tiu-ivui' uiui therein sr.aiL bo operate .uui iii.i.uiUua':v! under tin. direction uui
^upervis U'U of the President of "tin- hi :.;i.rL-:i., thi/oii,,is :i, ,<-i»L:; or employees tiitfivuur.o
duly authorized, subject to the direction or the bou.ru oi" Trustees 01' the District,
and all fees, charges, and other revenues received from the operation of the aforesaid Bui Loin;;;; and facilities shall be rciti over to and collected by the Treasurer
of the District, through agents or employees tner«_-uuto uuLy authorised, una all
such revenues shall be deposited with zhz said Treasurer and shall be credited on
the books of said Treasurer to a special account hereby created and designated the
STUDS!.'? UNION BUILDINGS REVENUE FUND,
'iis said Treasurer shall be and is hereby
authorised and directed to allocate and ray out the funds so deposited to the credit
of the STUDENT UNION BUILDINGS REVENUE ?~3 in the following manner:
FIRST: There shall be allocated to a separate and special account hereby created and desir-ated the STUDENT UNION BUILDINGS
OPERATION AND MAINTENANCE ACC:l'.'TZ the reasonable- costs of operating and maintaining the aforesaid Buildings and the facilities thereof and therein (including ordinary costs of repairs,
replacements, and upkeep) as •ic-tennined by the said Board. In
the event that extraordinary repairs, upkeep, or replacements
in or on the aforesaid Studer,- Union Buildings and the facilities thereof and therein should become necessary prior to the
time when the Depreciation Account hereinafter provided for
shall have a sufficient balance to provide therefor, such
extraordinary repairs, upkeep, or replacements^ in the discretion of the Board, may be -aid out of the Operation and
Maintenance Account.
SECOND: Semi-annually on June 15 and December 15 of each fiscal year the said Treasurer sLiil transfer on his books from
the balance in said Student Uaion Buildings Revenue Fund to a
separate and special account Lsreby created and designated the
STUDENT UNION BUILDINGS REVENTE BONDS INTEREST AND SINKING
FUND ACCOUNT a sum cf money iiequate to pay the amount of interest which will become due ca the then next interest payment
date on the bonds herein dirc-cxed to be issued and, beginning
on the fifteenth (15th) day cf June, 1972, a sum of money not
less than one-half (l/2) of tie amount of principal which will
become due on the then next principal payment date on the
bonds herein directed to be issued. Sums credited to said
Interest and Sinking Fund Ac--cat shall be used solely and
only for the payment of the i>i.id bonds and the interest thereon'as the same become due or ire called for redemption ui: in
this resolution provided. Tie said Treasurer shall make no
12/22/67
-15-
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i'i :", '..ijj.cii shall Lc auccuute to p:;^ a l l o.' '...!•:
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stanlii .g, all of the interest thor--iai to ::..'.turi v or to the
date upon which such outstanding bonds id-, en r.kiy ;...vc been
called for redemption, and the redemption pre;.:!-:-..; due thereon, if any.
TRIAD: Semi-annually en June 15 una December J ;.. t f each fiscal year, after making the disbursements province for ia paragraph Second above, the said Treasurer shall trn.tsfer the entire balance remaining in sale Stunent I'aU.a b-.:l'..; La,y. ;-evcrn;e
•'• . a a ( < •:<.<.'<'nti ti. \ \\\ i < , - t r n e d y •'•. ei;'ii v :• ;• <). ;..;•• I I e V . t-.'.; . twp.'i [-'j. ;'uh
«.!'." ;.::..;. S e c t i o n O ) aik. c m .J I cree.i t t.li •: ...<Me Lo .. ..'i'i-..i'..U: a n d
.--:..-eiai account, hereby created ana designated t... STUD .-.AT UR'IOi-f
;:.-iaJl».G3 REVRku'R iiORi-S ;\TS..'RV!'J .'iCCOJAT at sue; t tmo or times
as tue said Reserve Account shall have been dep.-c.ca nelow
the sum of Two Hundred Fifty Thousand Dollars (:;_- 0,000), at
•.-.•Rich figure the said Reserve Aecov t shall be mli.cnineu by
subsequent transfers from said Student Union hu I Icings Revenue Fund ac hereinabove provided. Suae credite.1 to said Reserve Account shall be used solely and only to supplement the
Interest and Sinking Fund A.ccount as and when n*.-.:vssary promptly
I O pay the bonds herein authorised to be issueu and the interest
thereon when due.
FC'JRTK: Semi-annually on June V) and December _~. oi' each fiscal year, after making the disbursements provided for in paragraphs Second and Third above, the said Treasiu-<_r shall transfer the entire balance remaining in said Student br.ioa Buildings Revenue Fund (excepting unearned revenues uj defined in
paragraph Fifth of this Section 8) and shall er.zit the same
to a separate and special account hereby create- and designated the STUDRRT URIOI,' BUILDIRGS DRPRRCIATIOR ..JCOURT until
such time as there shall have been accumulated ia said Depreciation Account the sun of Three Hundred Thousand Dollars
(r300,000), at which figure the said Depreeiatic:-. Account
thereafter shall be maintained by subsequent transfers from
said Student Union Buildings Revenue Fund made as hereinabove
provided. Funds credited to said Depreciation Account shall
be used solely and only for the purpose of paying the cost,
as determined by the said Board of Trustees, of extraordinary
repairs, upkeep, and replacements in or on the ..foresaid Student Union Buildings and the facilities thereof and therein,
the net income and revenues of -which are pledge- to the payment of the bonds herein authorised to be issue.: and the in- "
terest thereon. All sums thus withdrawn from said Depreciation Account shall be restored thereto out of subsequent
• i n c o m i n g
revenues in like manner as transfers to said Depreciation Account are hereinabove required to be made.
Provided that, in the event that sums standing to the
12/22/67
- 16-
-."iv-.;:.i. of i.iio nferoraia Interest a,,.. . lib: 1.;, i-bna AceaVM.t and
.'.....", .. wUU-.iiii;' to t.<c crLr.it of L.:e . ..b.r.:.:.<.! . he-nerve Aivjoji.L
at any uiuc sr.oul.u be insufficient. . • aay -'UiTt.c.oLy accruing
interest on lititi currently ir.C.lurin;' _ "^'.xeip-ai. of li.e bonus
herein authorised to bo issued, the _oavd i..ay transfer frci.i
the said Lcprociation Account to t..,. :aid intercut and Sinkin.; bund Account such sum or suu« a; ...ay bo ronuircu in order
promptly to pay such accruing inter..:.:, or i.-aLuria^ principal.
Any .:u;.t or suits so transferred frca the .:aia Depreciation AcOC,.:::J shall be restored thereto by . ..bseipie-nt payments into
said Account :r.ade in the manner herein, provided.
.:•'!: i'M: Semi-annually on June 1^ a::i ..--.jcoaoer V) of each fis..r..l year j after 'j.akin^ the cir.bur^ .... ..c; provided I'or in para, .raab.s Second, Third, and Fourth at. ... , ZI.M said Treasurer
rhall transfer frcm the sain Stuu; .. .'.ilea build in;;r. Kevcnuc
.-vac. uae entire ba~nr.ee, exceptm^, _ .oaraca revenue.';, re.i.aini;.;; in said Student Union Buiidiny.- .-•..•venue Fund to a sepur;-'..'• ar.:: special account hereby crc . .1 and designated the
A'...•!.•.-.. 1' bblOA bUihbTSbb SUaPiiUS A; A. .,J3 a.;.; su;:a; <:rea.i teii
i.e .::.a; Surplus .'.cocu:;i, :;i.al— be a .. » on...y 10 rcueoi.i m advance o;' rr.aturity us herein provide... or upon the- open market
any of ~he bonds herein authorinei :: be issued, to improve
or replace existing social and recu-. aoionnl facilities, or
uo provide additional social and r. rcational facilities
oi: any of the ca:,rpuses of the afor~.aid b'istriet.
Pre words "unearned revenues" as u:.-i herein si.all n-ean such
su;- cr sums of money as shall have .can collected in advance
as revenues of the aforesaid Studen" b'nic-u Buildings and the
facilities thereof and therein for :. period or periods of
time subsequent to and including t.:; month in which such
transfer is made.
In its discretion, the Board of Trustees of said District may invest
and reinvest any of the suras on deposit to ta; credit of the aforesaid Student
Union Buildings Revenue Fund, including the several Accounts therein, in such manner a s , from time to time, may be permitted, by lav for the investment of funds by
school districts in the State of Missouri.
SECTION 9.
That disbursements frea the aforesaid Fund and Accounts
shall be t:ridc only upon proper warrant or v c t h e r therefor duly signed in like
manner as other warrants or vouchers drawn uton the Treasurer of said District
are required to be signed, and withdrawals C. moneys for investment or reinvestment i; urptv.es under the terms of this resolution shall not be deemed to be disbursements within the intent and moaning of any provisions of this resolu". i..:a
!2/22/67
- !7-
G.'-'.CVIOh* 10. That all bonds and iiH,ci\:.,t coupons paid b/ the: aforesaid
haul: thecupas s.^aii bo cancelled cATv-.-1 vo.l.y s. saiu wuah and thou shall be
transmit_ed to the Treasurer of the 3o„.rd oi' Trustees oi said District, and said
Treasurer shall provide and hecp a culpable record of caid bond a and in tercet coupons until such time as all or the bonis herein authorised to be issued and all
interest: coupons relating thereto shall have been paid in full.
LPCi'lOP 11. That The Junior roilepe District of St. Louis, St. Louis
County, P.issouri, acting ~oy and thro;. ';. the Board of trustees oP said District and
uuuor anc \r au...oriLy op the aforesu:.'. Chap La r 1'I<J, Vcraoa's AnnolaLca Missouri
Statutes, so lose as any op the bonds sr interest coupons herein authorized to be
issued shall r<_~ain outstanding and unpaid, hereby onpressiy covenants and agrees
with the holders oP the bonds herein directed to be issued as follows:
(1) Tint it vill continuously operate the said Student Union
Puildinps and the facilities thereop and therein at all times
when the college campuses ct-;-rated by the said District are
in session: that it vill adept such regulations Tor the use
thereof and fix and maintain such reasonable rates and charges for such use, including a per capita student Pee for the
use of said Buildings and futilities, as in the judgment of
said Beard of Trustees will provide revenues sufficient to
pay the reasonable cost of cperating and maintaining; said
Buildings and facilities, tt provide and maintain the aforesaid Interest ana Sinking Fund Account in an amount adequate
promptly to pay the principal op and the interest on said
bonds, and to provide the afaresaid Reserve Account and the
aforesaid Depreciation Account; and that it vill collect,
account for, and apply the aforesaid revenues in accordance
with and as provided for in this resolution.
(2) That, in the event that social and recreational facilities, other than those in this resolution named and referred
to, hereafter should be constructed and placed in operation
by said District for the benefit and use of students attending the college campuses epe-rated by the said District, the
rates, charges, and fees for the use of such additional facilities shall be so fixed that the net income and revenues of •
the Student Union Buildings and facilities herein pledged
shall not be adversely affetted thereby.
(3) That, except as herihttfter in paragraph (C) of this
Lection 11 provided, it vill not voluntarily create or cause
to be created any debt, lien, charge, or encumbrance having
priority to or parity vith the lien of the bonds issued
under this resolution upon any of the revenues pledged to
' 2/22/67
_]8_
the payment oL* said bonds and the .avtcjc:;'L L'.ii::'i.:on and thr.^
•
it '."ill not sell, morty.fit'iO, lease, o-: oLherrise dispone Of
or encumber r-r.*.icl ;J Lucent Tin .to;. Bu.;.lui:;;;s and the facHLtics
thereof and therein, or any '-arc thereof, darin..; the time
when the bonds issued hereunder shall remain outstanding
ar.ci unpaid.
(-0 That at all times it will e;:erc.i:;e fill or it a lawful
l^vc'c to preserve and project the security of ,.he bends and
the rights or the bondholders under this resolution.
•
(|;) That the said district shall maintain insurance on each
c_' said Ctudcivc Union Buildings an:: the facilities and all
i .SvS thereof the r.z i- income an.: revenue:-, of which are herein
V'l'.. -.ed, .Ln::ii:din.; ;.M furniture ;:;.c equipment therein, for
m.e reuafit Oi' the holders ol' .cab; ;..o:;u.; a ,alnsl Joss or
f.amupe by fIre or wi::i storm., in an amount not less than the
full insurable value or said properties or the amount of outstanding bonds, whichever is less. Such ir.sui-aucc policy or
policies shall be payable to the District, and all money
collected on account of loss or da:.-" .e covered by any such
policy or policies of insurance shall be held, in trust, and,
at the option of the Board op Trustees, shall be used only
Per (a) reconstruction, replacements, or repairs, or (b) payment into the Interest and Siiihinp Puna Account to the amount
necessary for the pivr.ent oi bonds issued hereunder and then
oiustaiiain." and interest thereon. The said Board also shall
carry adequate insurance ac:--inst the loss oP uze and occupancy of said Student Union Euildinps and the facilities
thereof and therein Prom any or all rishs or from any cause
whatsoever - The balance of the proceeds of any such use and
occupancy insurance, after deductir.p the necessary operation
ar;d maintenance eharpes under economical manapement, as determir.ed by the said Board of Trustees, durin;; the period oi*
such loss of use and occupancy, shall be paid into the aforesaid Interest and Sinking Fund Account. All of the said insurance shall be carried in a responsible insurance company
or companies authorized to do business in the State of Missouri,
and the cost thereof shall be paid out of the Operation and
Maintenance Account herein provided for.
(6) That the said Board of Trustees shall cause to be Kept
proper boohs of records and accounts, separate and apart from
all other records and accounts, in which complete and connect
entries shall be made of all transactions relating to the
cost of constructing equipping, and furnishing the aforesaid.
Student Union Euiidinys, the expenditures for the operating,
maintaining and repairing of the said Buildings and the facilities therein,and all revenues collected therefrom, which said
records sliall be kept and shall be available for the information of all persons interested; that xhere shall be furnished
12/22/67
_19_
to the original underwriters of said bonds and to a holder of
any of said bonds, on writL>--n request therefor, nob if.ore than
thirty (30) days after the close of the seui-animal period ending on each June 20 a n ' ouch Doconibcr 31 hereafter, coiapli'to
operating and income statements of said Buildings and facilities, in reasonable detail, cover!'-.;; such :;cvi.-annual period;
and that there also shall be furnished to the original underwriters of said bonds or to a holder of any of said bonds, on
written request therefor, not more than ninety (90) days
-':..
after the close of each fiscal year., n complete financial
scnte::ie:it of said Puildiivps and facilities, in reasonable
detail, co/crirrj such fiscal yea:'., slaoc: uy the 'i'reasuror
and ecrtif-cd by independent auditors, \:ho shall be Certified
Public Accountants. All expenses incurrea hereunder shall
be ciiar;;«;a:>le to the Operation ana Maintenance Account herein province for.
(Y) fv.at, at all times while any of said bonds rent;in out..-.tandir.;;. and unpaid, either as to principal or interest or
no,di, the aforesaid 13oard or Trustees shall eiapioy or Jnake
provision for the enploytior:;. of so:.'? suitaoie person or persons to supervise the operation ar.c maintenance of said Student Union Buildings and the facilities thereof and therein,
r.r.d such other persons, including, auditing and accounting
personnel, as ray be necessary for the proper and efficient
operation, management, and maintenance of said properties.
'fh.e cost of such services shall be included as other costs
of operating and maintaining said properties and shall be
payable in like runner.
^fe
^^^
(0) That, while airy of said bonds shall remain outstanding
and unpaid, either as to principal or interest or both, the
aforesaid District will not issue any additional bonds or incur any other indebtedness, payable from the revenues of said
Student Union Buildings and facilities, unless the lien of
such additional bonds on the said revenues shall be made
junior and subordinate in all respe :ts to the lien of the
bonds authorised to be issued hereunder. Provided, however,
that, in the event said Student Union Buildings and facilities or any thereof should be destroyed in any manner and it
should become necessary to rebuild or restore the sane and
in the event that the proceeds of any insurance en such
properties, or any other available funds, should be inadequate fully to cover the cost of such rebuilding or restoration, then and in that event the said District nay issue
such an amount of additional revenue bonds as may be necessary for that purpose, and such additional bonds shall be
entitled to payment in like Planner as and without preference
or priority of the bonds herein directed to be issued.
;
•
12/22/67
-20-
^P
(9) that the Beard will faithfully awe punctually perform
or cause to be performed all of the duties ana obligations
with respect to the said Stucent Union Buildings and facilities
as are required by the provisions 01' this resolution, including the construetins, equipping, and furnishing of said Build- .
intjs and the operation and maintenance thereof, the r:iakin;5 and
collecting of reasonable and sufficient fees and charges for
the use thereof, the segregation of the ineor.ie and revenues
therefron to the respective funds created under the provisions
o£ this resolution, and the proper application of said funds.
SECTION 12. That., for the farther protection of the holders of the uonds
herein authorised to be issued and the interest coupons thereto attached, a lien
upon the net income and revenues (as defined in Section 17*6.010., subparagraph (2),
of the aforesaid Chapter 17o, Vernon's Annotated Missouri Statutes) derived frail
the operation of naib Student Union A .._lbin:;.., :.::d the -La--i.iii.li-:; there o:,' and therein,
the net i:;oo::.e and revenues of which are pledged under the terus of this resolution,
is hereby granted and created, which sale lion is hereby recc^niviea ana declared to
be valid and bincin-; upon the aforesaid District and shall tahe effect ir^icdiatcly
upon the delivery oi' any bonds authori.:ed to be issued under the provisions of this
resolution.
Any holder or holders of any bond or bonds issuea hereunder or any
coupons representing interest accrued thereon, \yj proper civil action, either at
lav: or in e.Tuity, ray ccr.:pei said Board to t'_>rfom all duties imposed upon it by
the provisions o£ the aforesaid Chapter l"o and by the provisions of this resolution, including the railing and collecting of sufficient rates and charges for the
use of sain Student Union Buildings and facilities, and to enforce the performance
of any and all other covenants irs&de '~y said District in this resolution.
12/22/67
- 21 -
•'•••;
SZCTIOir 13. That the bonds authorised to to issued hereunder and from
tire to time outstanding shall not be entitled to priority,, cue over the other,
in the application oi' the ir.cc-.o and revenues derived from the collection or fees
and charges 1*0r the use of the aroresaid Buildings and facilities, or with respect
tc the lien securing their payment, regardless of the time or tir.ies of their execution or delivery.
SECTION Ik.
That the rights and duties oi' the hoard of Trustees oi' the
aforesaid District and of the holders of the bonds and the interest coupons and
the terms ana provisions of this resolution may be modified or altered in any rcs•cect by resolution of the said Board, vith the consent of the holder or holders of
seventy-five per centum (75£ ) in principal amount of all of the bonds then outstanding; such consent to be evidenced by an instrument or instruments of such
holder or holders and duly acknowledged in the manner of a deed for the conveyance
o f real estate in the State of Missouri, and such instrument or instruments shall
contain or be accompanied by appropriate proof of ov;nership of the bond or bonds
concerning vhich such consent is siven, shall be filed in the office of the Secretary of raid Board, and shall be a public record.
Provided, however, that no such
modification or alteration shall extend the maturity of, reduce the rate of interest
t;-:i, or o-'..c.t-Lse alter or Impair the o'..li. ;at [•->.. ,;o t ,7 :.':...• principal o.' or whe interest on ;v-v' :;ond at the time and place an., n„ the rate and in Sue curren :y as provided therein, without the c::prcss consent op „..e holder of such bona, nor shall
any sue. modification or alteration reduce the perce:"ii.a..e of bonds rcouired for
the affirmative \ote for or b i t t e n consent to .- modification or alteration or alter
or impair the covenants set forth in oeot:.o;; 11 of .his resolution. Any and all
modifications made in the manner hereir.abovo provided shall not beco.T.c effective
until there shall have been filed vith the Secretary of said Board proof of the
ecr.sen- -o rue:: modification \jy thr> holder or holders of seventy-five per centum
(Y5/) i- principal amount of all bonds then outstanuisr;.
12/22/67
-22-
Ufr
GFCTIOi: V}.
That the proceeds derived iVoa the issuance and sale of said
bonds shall be applied as foilov/s:
(a) The amount of accrued interest received upon sale and
delivery of said bonds shall he deposited in and credited
to the Interest ar^.C Sinkinrj Fund Account hereinabove provided
Tor, immediately upon delivery of said bonds.
(b) The reminder of the proceeds of said bonds shall be
credited on the boohs of said District to r special account
designated the STtrdriliT UlJICif BUILDIHGS COilo'i'I-UCTIOII ACCGlfvT
and shall be applied to the cost of consc.ru-.:tin•;, equippiay,,
and furnishing the social and recreati.oraf buLlcia ,s known
and bcsi.;;;:ated en the plans therefor as thu Ctccuul. Union
Buildings hereinabove in this resolution referred to, iucludin(; all costs necessarily incidental thereto. The entire amount
credited to said Student Union Buildings Construction Account
shall be deposited in a separate bank account, and disbursements from said Account shall be made ouiy upon check therefor
signed by the Treasurer of the Board of T -ustecs of the District. Fash check drai/n in payr.cn L oil eosi",:; of construct in,--;
the aforesaid Builuin<;s shall be accompanied by a curtif• •ate
o£ the Architect supervisin.;; such construe tiuu, eert.i. fyiiv;
t'nat the payment represented by such check is necessary in
defraying part of the cost of constructing said Buildings.
Each check draw: in payment of costs of equipping and furnishing the aforesaid Buildings shall be accompanied by a certificate of the Vice-President of the District who is in charge
of the particular campus upon which the expenditure is beinv;
made certifying that the payment represented by such check is
necessary in defraying the cost of equipping or furnishing
the particulai' Building involved or costs and expenses neiessavily incidental to the consti-uctiir;, equipp'ui;-;, and furnishing of paid Building and the facilities thereof and therein.
The aforesaid Beard, in its discretion, may direct the Treasurer of said District to invest or reinvest all or any part
of the funds so credited to the said Student Union Buildings
Construction Account in bonds or other oblirjations of or
^^
; .rurmtccb by tin- l):.itcd ;'k;..\.. ;, <..' ...irt:.., ;,u i.t; ;,_.,!.•• •.! fiic.
•••>;.' : e -u .board ir. : ;.s order direct.!... . >.b- i r.vua tmc.t, ov rcin.csUv.er.t .:..' su.'i: tu.ds. The :;cic brc;. :-:srcr '.. •.ere;/- :•:. i.-.O':isc. ana empowered from time to ...'..:.: -to liquidate all or such
fare 01 sue. tr. .estment or \uvest:..rc..... cs ;.;.,/ be ..<; xssar"
f.\'m time to time .o provide fund. .••'.• :.:..-;; d.o withdrawals to
be made .'rc^ saiv .b\ oir.Vi. 'cr'er t.'.e "(..•;;:: oi' this-resolution.
Any .:w^pli::, rcmainin;; in si.ic A•;•:<:: art u.'-oa •..he completion of
t!.e construe via.,, esaippir/, a., fc.rnis.-in ; of said dtuuent
Union Buildings shall be tr...refer-..; .. a..c ore--:; '.teu to the
Interest and frisking Fund A .-count heroin provicied for.
12/22/67
- 23 -
SEddlOh lo.
That a i l ir.ocr.e aris-;: : '..,/ way of interest or profit uv-n
or in cornice ^isa \.'ith the investment or re ;:..ostu::i:t o f iunds under the provisions
of paragraphs Tnird and Fourth oi Section J o;' this resolution shall be credited
to the Stuueut Union Buiidir. ;s Revenue Uuad h..reiu provided Tor and allocated as
_r. said Section o provided ;'or other revenue:; oi" said Buildings,
aric!
sll nuch in-
:-•: .0 ur:.:• I.::., u:.:r;r d:c pro/lsions o f .urn,.;."ads (b) of d.;jtion 1> o»' thin resolution
shall he credited to and beccr.e a par* od the Student Union Buildings Construction
Ac::ouni provided dor in said Section i>.
SECTICj 1 7 . T h a t the bard: herei...above do si. •;...:. sou as the place o f pay;.:..t t;' the Vends herein directed to dc issuer and the interest coupons pertinent
tl.-roto snail he pais-: the usual fees for h.: cervices in connection therewith,
vhish said fees shall he paid from the Operation and Maintenance Account hereinabove
SECTION 18.
T h a t , concurrently vish the issuance and delivery o f the
bonds herein authorised t o be issued, there shall be set u p on the books o f the
District, in a separate fund, t h e sun of '^so Million, Jive Hundred Eiehty-eitfit Thousand,
h'ine Hundred Thirty-Eight Dollars (v2,dc6,93o), from other available funds o f
the District, which shall b e used solely and only for the purpose o f supplementing
the proceeds of the bonds herein authorised t o be issued in paying the costs o f
constructing, ecmipping, a n d furnishing on each 01' the throe (3) present campuses
c f the District the ne-.r social and recreational builoir.js herein referred t o and
t: h a hucvai and designated e n the plans therefor a s the Student Union Buildinss.
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5.2
Apt,<r;vril O f f.'Mploymi.-nt Ol Consulting P s y c h i a t r i c - A l l Three CoHenes
The Board previously approved employment of Dr. Ervin Lipschitz as a consulting
ps' -hiatrist for a i l three colleges for a f i f t y - t w o week period ending September 6, 1967.
Continuation of these consulting psychiatric services was requested by the three colleges
and the Board was requested to approve employment of Dr. Lipschitz for the fiscal year
1967-68 in the amount of S 6 , 1 7 5 . 0 0 .
Whereupon, on motion by Mrs. Bastion, seconded by M r . Wi I Harmon, a r c with
ihe approval of ail members of the Board present, it was
RESOI.VFD, That a report fiom each of the three colleges describing
the consuming services rendered by Dr. t r v i n Lipschitz be submitted to
the Board a* a subsequent meeting of the Board.
FURTHER RESOLVED, That contingent upon submission and acceptance or" the
report on the previous consulting services rendered by Dr. Lipschitz, that -he
employment of Dr. Lipchitz be and hereby is approved for the fiscal year
1967-68 in the amount of $ 6 , 1 7 5 . 0 0 , said funds to come from the Generci
Fund of the District.
5.3
Employment O f Consulting Physician - A l l Three Colleges
The Board was requested to approve employment of Dr. Robert C . Packman as a
consulting physician to the nursing staff at a l l three colleges for the fiscal year H 6 7 - 6 8 .
Mr. Williamson moved approval of employment of Dr. Packman as a consuming
physician and the motion was seconded by M r . Ruffin.
Upon the v o t e , the motion received
a favorable vote of three to one — Mrs. Bastian voting " N o , "
The Chairman declared the
motion defeated , having failed to receive a majority vote of the whole Board.
The Board thereupon requested additional biographical information concerrvncj
Di . Packman's experience f- be submitted to the Board at a subsequent meeting.
12/22/67
-27 -
^^
j .1
Acceptance Of Bids For Clausing lathes - FPCC
Bids were received for three 12" clausing lathes to be used in the Automotive
Technology Program at the Forest Park Community C o l l e g e .
The Board was requested
to accept the b i d of McDonald Machinery Company i n the amount of S 6 , 5 1 9 . 0 0 .
Whereupon, on motion by Mrs. Ecs'ian, seconded by M r . W i l l i a m s o n , and w i t h
the unanimous approval of a l l members cf the Board present , it was
RESOLVED, That the Board of Iiu.iees does hereby accept the bid of
M;Donald Machinery Company for three 12" clausing lathes to be
used in the Automotive Technology Program at the Forest Park
Community C o l l e g e , in the amount of 5 6 , 5 1 9 . 0 0 , and authorizes
the pu/chase thereof, said funds re come from the Building Fund of
the D i s t r i c t .
5.5
Acceptance O f Bids For File Cabinets - FPCC
Bids were received for 106 two-drawer file cabinets for the Forest Park Community
Colleje.
The Board was requested to accept the bid of Berry O f f i c e Furniture Company
fcr file cabinets, i n accordance with District specifications, i n the amount of $ 5 , 0 9 0 . 0 0 .
Whereupon, on motion by Mrs. Basrian, seconded by M r . Ruffin, and with the aye
vote of a l l members of the Board present, it was
RESOLVED, That the Board of Trustees does hereby accept the bid of
Berry O f f i c e Furniture Company fcr 106 two-drawer f i l e cabinets to
be used at the Forest Park Community C o l l e g e , in the amount of
$5 , 0 9 0 . 0 0 , and authorizes the purchase thereof, said funds to come
from the Building Fund of the District.
\2/22/'S7
-28-
9.
ADJOURNMENT
Upon motion by Mrs. Bastion, seconded by M r . W i l l i a m s o n , and with the aye vote
of a l l members of the Board present, the meeting was adjourned at 1:00 p . m .
Respectfully submitted,
Paul H. Connole
Secretary, Board of Trustees
The Junior College District
St. Louis, St. Louis County, Missouri
12/22/67
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29-
jBKWJAMIN H.CHARLES (1866-1937)
d » * * L TRAUERNICHT
GARFIELD I - 0 9 I I
LAW
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OFFICES
CHARLES AND TRAUERNICHT
"GAEBE
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STREETp | N E
SAINT LOUIS
63102
O B
August 15, 1968
Mr. Paul Connole
Assistant to the President
7508 Forsyth Boulevard
Clayton, Missouri 63105
RE:
THE JUNIOR COLLEGE DISTRICT OF ST. LOUIS,
ST. LOUIS COUNTY, MISSOURI
$3,000,000 STUDENT UNION REVENUE BONDS
Dated January 1, 1968 (Our File No. lU,682)
Dear Paul:
Pursuant to your recent request, we are enclosing herewith in
quadruplicate, a form for an Acknowledgement of Notice of a special meeting
of the Board of Trustees held December 22, 1967.
Please have all copies of this document signed by each person
who was a member of the Board at that time. Mr. Stewart should sign as
President.
Please return three copies of this document to us and have one
placed with the official minutes.
With kindest personal regards and best wishes, we beg to remain
Very truly^fOttfsT
CTJr:BK
VI/U<+jh^W^^^
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ACKNOWLEDGEMENT OF NOTICE
We, t h e u n d e r s i g n e d , c o n s t i t u t i n g t h e Board of T r u s t e e s of The J u n i o r
C o l l e g e D i s t r i c t of S t . L o u i s , S t . L o u i s County, M i s s o u r i , do h e r e b y J o i n t l y and
s e v e r a l l y acknowledge t h e r e c e i p t of t i m e l y n o t i c e a s t o t h e t i m e , p l a c e , and
p u r p o s e of a s p e c i a l m e e t i n g of s a i d Board t o h e h e l d a t t h e C e n t r a l O f f i c e of
t h e D i s t r i c t , 7508 F o r s y t h B o u l e v a r d , C l a y t o n , M i s s o u r i , i n s a i d D i s t r i c t
at
t h e h o u r of 1 2 : 0 0 o ' c l o c k , Noon, on t h e 22nd day of December, 1 9 6 7 , and do h e r e b y
j o i n t l y and s e v e r a l l y a p p r o v e , c o n f i r m , and r a t i f y t h e a c t i o n s t a k e n b y t h e
members of t h i s Board p r e s e n t a t s a i d m e e t i n g , p a r t i c u l a r l y v i t h r e f e r e n c e t o t h e
p a s s a g e and a d o p t i o n of a r e s o l u t i o n
^
entitled:
"A RESOLUTION DIRECTING THE CONSTRUCTING, EQUIPPING, AND
FURNISHING OF A SEPARATE SOCIAL AND RECREATIONAL BUILDING
ON EACH OF THE THREE (3) CAMPUSES OF THE JUNIOR COLLEGE
DISTRICT OF ST. LOUIS, S T . LOUIS COUNTY, MISSOURI; DIRECTING THE ISSUANCE OF REVENUE BONDS IN TOE PRINCIPAL AMOUNT
OF THREE MILLION DOLLARS ( $ 3 , 0 0 0 , 0 0 0 ) FOR THE PURPOSE
OF PROVIDING PART OF THE FUNDS NECESSARY THEREFOR; FIXING
THE DATE, MATURITIES, FORM, AND OTHER DETAILS OF SAID
BONDS; AND MAKING COVENANTS AND PROVISIONS FOR THE PAYMENT
OF SAID BONDS AND THE INTEREST THEREON."
W i t n e s s o u r h a n d s a t C l a y t o n , M i s s o u r i , t h i s 22nd day o f December,
1967.
Trustee
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