7



been overtaken by events, and by reason thereof it has been brought

to the attention of the Executive Committee, acting under full author-

ity previously vested in it by the Board, that it is proper and in

order to amend the Series C and Series D Resolution (but only insofar

as the Series D Bonds are concerned; and without in any manner amending,

altering or repealing any provisions thereof pertaining to the Series C

Bonds which were also authorized therein and which have subsequently

been sold and delivered) by (i) adding to the "Undertakings" to be

financed in part through the issuance of the said Series D Bonds

two new and additional educational buildings projects, (ii) increasing

the principal amount of the Series D Bonds to $34,700,000, (iii) up-

dating the Series D Bonds to May 1, 1971, in order to avoid the

necessity for accounting for interest coupons which would already be

past due if said Bonds were issued under date of September 1, 1967,

(iv) substituting a new and realistic up-dated schedule of principal

maturities, and (v) a re-statement of the redemption provisions; all

of which actions have been approved and authorized by the Commission

in a resolution adopted on May 13, 1971; and by reason of such events

and happenings, it is appropriate and consistent to adopt, and re-state

in amended form, the prescribed text of the Series D Bonds;

          (f) It has been the opinion and judgment of the Executive

Committee that there should be no further renewals of the Revenue Bond



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