9



Project for the two Fiscal Years immediately preceding the issuance

and delivery of the said Series D Bonds has been sufficient to meet

the requirements set forth in Section 7.10 of Article VII of the

Resolution of September 20, 1960, wherein conditions and restrictions

were prescribed with reference to the issuance of parity bonds from

time to time; and the Executive Committee is fully advised in the

premises.

          The Presiding Officer further reminded the Executive Committee

that by reason of the extreme difficulty of obtaining the presence of a

quorum at special meetings of the Executive Committee, it had been

determined in conferences in person or by telephone that the details,

as recited above, with reference to the "Consolidated Educational

Buildings Revenue Bonds, Series D," as recommended by the Business

Staff of the University, with the concurrence of the Fiscal Agent and

Bond Counsel, and with advance approval by the Commissioner of Finance

of the Commonwealth and by the State Property and Buildings Commission --

all as cast in the form of a certain bond-authorizing resolution pre-

pared and submitted by Bond Counsel with the concurrence and approval

of all other parties referred to, should be assumed to be the basis

upon which the Executive Committee, acting on behalf of the Board and

the University, should offer at public sale its $34,700,000 "Consoli-

dated Educational Buildings Revenue Bonds, Series D," to be dated



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