MINUTES OF
Board of Regents
of
Stephen F. Austin State University
VOLUIE 110.  27
February 7, 1975
Nacogdoches, Texas
INDEX
Minutes of the Meeting
Stephen F. Austin State University
Board of Regents
held in Nacogdoches, Texas
VOLUME NO.  27
February 7, 1975
Page
74-128 Approval of Sale of State Subordinate
Ad Valorem Tax Bonds 27-2
74-129 Approval of Contract to Complete Observatory 27-28
74-130 Authority to Appropriate Funds to Cover Flood
and Storm Damage 27^5
MINUTES OF THE MEETING
BOARD OF REGENTS
STEPHEN F. AUSTIN STATE UNIVERSITY
HELD IN NACOGDOCHES, TEXAS
February 7, 1975
The meeting was called to order by Walter C. Todd, Chairman
of the Board of Regents, at 11:00 a.m. February 7, 1975. 
PRESENT:
Members: Walter C. Todd of Dallas
Ernest Powers of Carthage
James I. Perkins of Rusk
Joe Bob Golden of Jasper
Mrs. Peggy Wedgeworth Wright of Nacogdoches
ABSENT: Robert C. Gray of Austin
Homer Bryce of Henderson
Mrs. George Cullum, Jr. of Dallas
Glenn Justice of Dallas
PRESENT: C. G. Haas, Secretary of the Board
Dr. R. W. Steen, President of the University
74-128
Upon motion of Regent Perkins, seconded by Regent Powers, with all
members voting aye, it was ordered that the bid of 4.45% plus 27.44
in premium from the First National Bank of Dallas, Texas, on the
BOARD OF REGENTS, STEPHEN F. AUSTIN STATE UNIVERSITY, STATE SUB
ORDINATE AD VALOREM TAX BONDS, SERIES 1975, of $1,715,000 be accepted;
that the Bond Resolution and anpropriate documents prepared by Messrs.
McCall, Parkhurst § Horton be approved; and that the Chairman of the
Board be authorized to sign the documents. 
27-2
THE STATE OF TEXAS I
I
COUNTY OF NACOGDOCHES I
We, the undersigned, Chairman of the Board of Regents and Secretary
of the Board of Regents at Stephen F. Austin State University do hereby
certify as follows:
1.  That this certificate is for the benefit of the Attorney General
of the State of Texas and the purchasers and subsequent holders of the
Universities of the State of Texas State Subordinate Ad Valorem Tax Bond,
Series 1975 - Stephen F. Austin State University, issued in the principal
amount of $1,715,000 and dated March 1, 1975. 
2.  That all bonds and notes issued by the Board of Regents of said
University payable from the tax levied by Section 17 of Article VII of
the Constitution as adopted in 1947, as amended in 1956, or as amended
in 1965, have been paid and are no longer outstanding, except with respect
to the following issues of bonds:
Universities of the State of Texas State Ad Valorem Tax
Bonds, Series 1972, dated May 1, 1972;
Universities of the State of Texas State Ad Valorem Tax
Bonds, Series 1972-A, dated July 1, 1972;
Board of Regents of Stephen F. Austin State University
State Ad Valorem Tax Bonds, Series 1974, dated March 1,
1974; and
Universities of the State of Texas State Subordinate
Ad Valorem Tax Bonds, Series 1975, dated March 1, 1975. 
EXECUTED this 7th day of February, 1975. 
/s/ Walter C. Todd
Chairman, Board of Regents
Stephen F. Austin State University
ATTEST:
/s/ C. G. Haas
Secretary, Board of Regents
Stephen F. Austin State University
27-3
(SEAL)
CERTIFICATE FOR
RESOLUTION AUTHORIZING THE ISSUANCE OF BONDS
THE STATE OF TEXAS I
COUNTY OF NACOGDOCHES I
STEPHEN F. AUSTIN STATE UNIVERSITY I
We, the undersigned officers of the Board of Regents of Stephen
F. Austin State University, hereby certify as follows:
1.  The Board of Regents of said University convened in SPECIAL
MEETING ON THE 7TII DAY OF FEBRUARY, 1975, at the Regents Conference Board
Room, Nacogdoches, Texas, and the roll was called of the duly constituted
officers and members of said Board, to-wit:
Walter C. Todd, Chairman Glenn Justice
Robert C. Gray, Vice Chairman Ernest Powers
James I. Perkins Mrs. George Cullum, Jr.
Mrs. Peggy Wedgeworth Wright Joe Bob Golden
Homer Bryce Charles G. Haas, Secretary
and all of said persons were present, except the following absentees:
Robert C. Gray; Homer Bryce; Glenn Justice; and Mrs. George Cullum, Jr.,
thus constituting a quorum.  Whereupon, among other business, the following
was transacted at said Meeting: a written
RESOLUTION AUTHORIZING THE ISSUANCE OF UNIVERSITIES
OF THE STATE OF TEXAS STATE SUBORDINATE AD VALOREM TAX
BONDS, SERIES 1975 - STEPHEN F. AUSTIN STATE UNIVERSITY
was duly introduced for the consideration of said Board and read in full. 
It was then duly moved and seconded that said Resolution be adopted; and,
after due discussion, said motion, carrying with it the adoption of said
Resolution, prevailed and carried by the following vote:
AYES: All members of said Board shown present
above voted MAye.n
NOES: None. 
2.  That a true, full, and correct copy of the aforesaid Reso
lution adopted at the Meeting described in the above and foregoing para
graph is attached to and follows this Certificate; that said Resolution
has been duly recorded in said Board's minutes of said Meeting; that the
above and foregoing paragraph is a true, full, and correct excerpt from
said Board's minutes of said Meeting pertaining to the adoption of said
Resolution; that the persons named in the above and foregoing paragraph
are the duly chosen, qualified, and acting officers and members of said^
Board as indicated therein; that each of the officers and members of said
Board was duly and sufficiently notified officially and personally, in
advance, of the time, place, and purpose of the aforesaid Meeting; and
that said Resolution would be introduced and considered for adoption at
said Meeting, and each of said officers and members consented, in advance,
to the holding of said Meeting for such purpose; and that said Meeting was
open to the public, and public notice of the time, place, and purpose of
said Meeting was given, all as required by Vernon's Ann.  Civ.  St. Article
6252-17, as amended. 
27-4
SIGNED AND SF.ALiil) the 7th day of February, 1975. 
/s/ C. G. Haas /s/ Walter C. Todd
Secretary Chairman
(SEAL)
27-5
RESOLUTION
BY THE BOARD OF REGENTS OF STEPHEN F. AUSTIN STATE
UNIVERSITY AUTHORIZING TOE ISSUANCE OF ITS UNIVERSITIES
OF THE STATE OF TEXAS STATE SUBORDINATE AD VALOREM TAX
BONDS, SERIES 1975, IN THE AGGREGATE PRINCIPAL AMOUNT
OF $1,715,000, BEARING INTEREST AS HEREINAFTER SET FORTH
AND MATURING AS HEREINAFTER PRESCRIBED, TO PROVIDE FUNDS
FOR THE PURPOSE OF ACQUIRING, CONSTRUCTING AND INITIALLY
EQUIPPING BUILDINGS AND OTHER PERMANENT IMPROVEMENTS AT
STEPHEN F. AUSTIN STATE UNIVERSITY, NACOGDOCHES, TEXAS,
PRESCRIBING THE FORM OF THE BONDS, PLEDGING TO THE PAYMENT
OF THE INTEREST AND PRINCIPAL THEREOF THAT PART OF THE
MONEY ALLOCATED TO SUCH INSTITUTION FROM THE CONTINUING TAX
LEVIED BY THE CONSTITUTION UNDER ARTICLE VII, SECTION 17,
AS AMENDED, SUBJECT TO THE PLEDGE OF SUCH ALLOCATED FUNDS TO
OUTSTANDING BONDS: PROVIDING FOR THE EXECUTION AND DELIVERY
OF SAID BONDS AND PRESCRIBING THE DUTIES OF THE OFFICERS OF
SAID BOARD AND OF THE STATE IN REFERENCE THERETO, AND MAKING
CERTAIN COVENANTS WITH RESPECT TO SECURING PAYMENT OF SAID
BONDS AND INTEREST. 
WHEREAS, by adoption at the general election held in the State
of Texas on November 2, 1965, Section 17 of Article VII of the Consti
tution of Texas was amended as a whole (hereinafter sometimes called the
"Constitutional Provision"); and
WHEREAS, the Constitutional Provision is self-enacting and has
continued an ad valorem tax on all of the taxable property in the State of
Texas at an increased rate of Ten (10<O Cents on the $100.00 valuation, and
authorizes the proceeds of the tax to be pledged to pay the principal of
and interest on the bonds issued pursuant thereto; and
WHEREAS, such tax levy became effective as of January 1, 1966,
and will remain effective for taxes which have and will become due and
payable in each year for a twelve year period beginning January 1, 1966,
and for each successive ten year period thereafter; and
WHEREAS, the Constitutional Provision provides for an allocation
of proceeds of such tax for the twelve year period commencing January 1,
1966, among the seventeen designated state supported institutions of
27-6
higher learning (hereinafter sometimes called "Eligible Institutions"),
and has authorized the governing board of each of the Eligible Insti
tutions to pledge any part of the fund allocated to it to pay the princi
pal of and interest on bonds; and
WIIHREAS, the Constitutional Provision requires the Comptroller
of Public Accounts of the State of Texas to make the allocation of the
funds to the Eligible Institutions to be raised by such tax for the
twelve year period beginning January 1, 1966, 85% of such funds to be
allocated on June 1, 1966; and 15% to be allocated on June 1, 1972; and
WHEREAS, the Constitutional Provision requires that the Comp
troller of Public Accounts of the State of Texas (the Comptroller) make
the June 1, 1966 allocation (85%) based on the following determinations:
"(1) Ninety per cent (90%) of the funds allo
cated on June 1, 1966, shall be allocated to state
institutions based on projected enrollment increases
published by the Coordinating Board, Texas College
and University System for fall 1966 to fall 1978;
f!(2) Ten per cent (10%) of the funds allocated
on June 1, 1966 shall be allocated to certain of the
eligible state institutions based on the number of
additional square feet needed in education and general
facilities by such eligible state institution to meet
the average square feet per full time equivalent stu
dent of all state senior institutions (currently
numbering twenty-two);M
and
27-7
WHEREAS, the Constitutional Provision requires that the
Comptroller make the June 1, 1972 allocation (15%) based on the fol
lowing determinations:
MA11 of the funds allocated on June 1, 1972, shall be
allocated to certain of the eligible state institutions
based on determinations used in the June 1, 1966, allocations
except that the allocation of fifty per cent (50%) of the
funds allocated on June 1, 1972, shall be based on projected
enrollment increases for fall 1972 to fall 1978, and fifty
per cent (50%) of such funds allocated on June 1, 1972,
shall be based on the need for additional square feet of
educational and general facilities;M
and
WHEREAS, such determinations have been made by the Coordinating
Board; and
WHEREAS, the Comptroller has made both the June 1, 1966, and
June 1, 1972 allocations as required by the Constitutional Provision;
and
WHEREAS, of the total funds thus allocated, Stephen F. Austin
State University (herein defined and referred to as the "University")
is to receive 4.48300% from the June 1, 1966 allocation, and 12.72203%
from the June 1, 1972 allocation; and
WHEREAS, the assessed valuation of property in the State of
Texas (less homestead exemptions) subject to such levy in accordance
with the approved tax rolls, together with the Comptroller's official
estimates of valuations for each year of the twelve year period, and the
figures representing the allocations among the Eligible Institutions
27-8
afford a basis for estimating the amount of money to be received by the
University under such tax levy for each of the years of the said twelve
year period; and
WHEREAS, the Board of Regents of Stephen F. Austin State
University has heretofore issued its Universities of the State of Texas
State Ad Valorem Tax Bonds, Series 1972 - Stephen F. Austin State Uni
versity in the aggregate principal amount of $3,485,000, its Universities
of the State of Texas State Ad Valorem Tax Bonds, Series 1972-A - Stephen
F. Austin State University in the aggregate principal amount of $1,745,000
and its Board of Regents of Stephen F. Austin State University State Ad
Valorem Tax Bonds, Series 1974, in the aggregate principal amount of
$695,000 (herein collectively defined as the Outstanding Bonds'1); and
WHEREAS, it has been and is hereby determined to be to the
best interest of the University that bonds be issued at this time which
are payable from its allocated fund and which are subordinate in such
payment to the Outstanding Bonds, and that action necessary for the
issuance thereof be taken by this Board;
BE IT RESOLVED BY THE BOARD OF REGENTS OF STEPHEN F. AUSTIN
UNIVERSITY:
1.  The Bonds - That in order to provide funds for the
purpose of acquiring, constructing and initially equipping buildings and
other permanent improvements at Stephen F. Austin State University, bonds
are hereby authorized to be issued known as ''Universities of the State of
Texas State Subordinate Ad Valorem Tax Bond (s)*, Series 1975 - Stephen
F. Austin State University," in the aggregate principal amount of
$1,715,000 (hereinafter referred to as the MBondsM). 
2.  Interest Rate - The Bonds shall bear interest at the rate
* Applicable to Bonds in denominations of $5,000.00.  27-9
10
of 4.45% per annum, payable September 1, 1978, subject to prior payment
in accordance with provisions set forth in Section 3. 
•*• [''"mi of Bonds - That the Bonds may be issued, as directed
by the Presiding Officer, such direction to be evidenced by his signature
thereon, in coupon form or registered as to both principal and interest,
in either case, in the denomination of $5,000 each, numbered from one (1)
upward or as a single bond in the denomination of the authorized princit>al
amount, numbered R-I, if registered.  All coupon Bonds and the coupons
appertaining thereto shall pass by delivery, and payment thereof to
bearer shall fully discharge the University in respect to the Bond or the
interest therein mentioned.  The Board shall keep or cause to be kept at
the Bank of Payment books for the registration and transfer of Bonds en
titled to registration and transfer.  The Board hereby appoints as its
registrar and transfer agent to keep such books and make such regis
trations and transfers under such reasonable regulations as the University
or the Bank of Payment may prescribe; and the Bank of Payment will register
or transfer or cause to be registered or transferred therein, as herein-above
provided, any Bonds entitled to be so registered or transferred,
upon presentation thereof.  Registered Bonds without coupons may be
transferred on the aforesaid registration books by the registered owner
in person or by his duly authorized attorney, by proper written instrument
of transfer in form and with guaranty of signatures satisfactory to the
University and the Bank of Payment. 
4- Security and Payment - That the Bonds shall be dated
March 1, 1975, and shall become due and payable on September 1, 1978, pro
vided that no payments of principal or interest shall be made on the Bonds
until all of the Outstanding Bonds and the interest thereon have been paid
27-10
11
in full or money has been set aside in the Interest and Sinking Fund
therefor sufficient to pay the principal thereof and interest thereon
to maturity.  No payment of the principal of the Bonds shall be made
until September 1, 1978, but payments of accrued interest shall be
made on any March 1 and September 1 on or after which there has been
set aside in the Interest and Sinking Fund sufficient money to pay in
full the principal of and interest to maturity on the Outstanding Bonds. 
Accrued interest payments will be made for periods of accrual in chrono
logical order.  All funds available to the Board for such purpose from
taxes collected and allocated under Article VII, Section 17, as amend
ed, of the Constitution of Texas will be applied on each such March 1
and September 1 to the payment of interest on the Bonds on each occasion
that the Board receives moneys from the Comptroller of Public Accounts
of the State of Texas or from the Treasurer of the State of Texas for
such purpose.  That the principal of and the interest on (if the Bonds
are issued in coupon form) the Bonds shall be payable, in lawful money
of the United States of America, without exchange or collection
charges to the owner or holder thereof, upon presentation and surrender
of proper Bond or coupon, at First National Bank in Dallas, Dallas, Texas
(hereinafter defined as nBank of PaymentM).  With respect to any Bond
issued in registered form, interest payments shall be made without ex
change or collection charges to the owner thereof by mailing a check
payable to the registered owner at his address on file with the Bank
of Payment.  That the Bonds shall be in all respects on a parity and no
one of said Bonds shall be entitled to priority over any other Bond of
this issue in the application of the money in the allocated fund which
has been pledged to the payment of the principal of and interest on the
27-11
12
Bonds, irrespective of the fact that some of the Bonds may be delivered
prior to the delivery of other Bonds, it being the intent of this reso
lution that all Bonds of this issue shall rank equally. 
5.  Execution olF Bonds and Coupons - That each of said Bonds
and interest coupons shall be signed by (the imprinted or lithographed
facsimile signature of the)* Presiding Officer and countersigned by
(the imprinted or lithographed facsimile signature of)* the Secretary of
the Board, and the official seal of said Board shall be impressed, printed
or lithographed on each of said Bonds. 
6.  Negotiability.  That nothing contained in the Bonds or in
this resolution shall affect or impair the negotiability of the Bonds or
the coupons thereto appertaining, and said Bonds and coupons shall con
stitute negotiable instruments within the meaning of the Uniform Commercial
Code of the State of Texas. 
7.  Forms £f Bonds and Coupons.  That the forms of the bonds
and coupons shall be substantially as follows:
FORM OF^ COUPON BOND
NO. "  $5,000
^Applicable to Bonds in denominations of $5,000.00. 
27-12
13
UNITED STATES OF AMERICA
STATE OF TEXAS
UNIVERSITIES OF THE STATE OF TEXAS
STATE SUBORDINATE AD VALOREM TAX BOND
SERIES 1975
STEPHEN F. AUSTIN STATE UNIVERSITY
For value received the Board of Regents of Stephen F. Austin
State University, an agency of the State of Texas, and as authorized by
the Constitution of the State of Texas, hereby acknowledges itself in
debted to and promises to pay out of the proceeds of the ad valorem tax
herein described to the bearer, on the 1st day of September, 1978, the
sum of
THOUSAND DOLLARS
with interest thereon from the date hereof at the rate of ( %)
per cent per annum, as indicated by seven (7) coupons, each in the
amount of _($_ )> payable on September 1,
1978.  As stated in the resolution authorizing this Bond said coupons
representing accrued interest may be paid at the option of the University
prior to September 1, 1978.  Both principal and interest shall be payable
in lawful money of the United States of America upon presentation and
surrender of proper bond or coupon at the First National Bank in Dallas,
Dallas, Texas, without exchange or collection charges to the owner or the
holder thereof. 
This Bond is one of a series of bonds (hereinafter sometimes
called the "Bonds") of like tenor and effect except as to number and
interest rate, numbered from One (1) through { JJ*>
issued for the purpose of acquiring, constructing and initially equipping
buildings and other permanent improvements at Stephen F. Austin State
University, Nacogdoches, Texas, in accordance with the provisions of
27-13
14
Section 17, of Article VII, as amended, of the Constitution of Texas,
and pursuant to the resolution authorizing the issuance of this Bond
(and the series of Bonds of which this is one)* adopted by the Board
of Regents of Stephen F. Austin State University (the MBoardM) duly
of record in the minutes of said Board (herein called the "Resolution"). 
The date of this Bond in conformity with the Resolution is
March 1, 1975. 
This Bond (and this Series of which it is one)* is secured
by a pledge of that part allocated to Stephen F. Austin State University
of the proceeds of a continuing tax on all the taxable property in the
State levied by Section 17 of Article VII of the Constitution, as amended
on November 2, 1965, accumulated and held in the State Treasury, pro
vided no payment of the principal of or the interest on this Bond (or
the series of which this is one)* shall be made until all of the princi
pal of and interest on the Universities of the State of Texas State Ad
Valorem Tax Bonds, Series 1972 - Stephen F. Austin State University,
dated May 1, 1972, Universities of the State of Texas State Ad Valorem
Tax Bonds, Series 1972-A - Stephen F. Austin State University, dated
July 1, 1972 and Board of Regents of Stephen F. Austin State University
State Ad Valorem Tax Bonds, Series 1974, dated March 1, 1974, heretofore
issued against such tax resources shall have been paid in full or until
money has been set aside in the interest and sinking fund therefor
sufficient to pay the principal thereof and interest thereon to maturity. 
The levy of such tax and the pledge thereof will remain effective so
long as this Bond (or any of the bonds of this series of which this is
one)* is outstanding and unpaid. 
*Applicable to Bonds in denominations of 55,000.00. 
15
Each successive holder of this Bond, and each successive holder
of cich of the coupons hereto attached, is conclusively presumed to forego
;iikI fen ounce In1; c(j u i t i c:.  in (;i vo r of* '.ulr; c.< \ new t ho I <|c r*s (Or v:t I uc wi I iioiil
notice, and to aj>rec that this Bond and each of the coupons hereto at
tached, may be negotiated by delivery by any person having possession
thereof, howsoever such possession may have been acquired, and that any
holder who shall have taken this Bond or any of the coupons from any
person for value without notice, thereby has acquired absolute title there
to, free from any defenses enforceable against any prior holder and free
from all equities and claims of ownership of any such prior holder.  The
Board and the Bank of Payment shall not be affected by any notice to the
contrary. 
IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions
and things required to be done precedent to and in the issuance of this
Bond (and the series of which it is one)* have been properly done, have
happened and been performed in regular and due time, form and manner as
required by the Constitution and laws of the State of Texas, and the pro
ceedings hereinabove mentioned, and that this Bond (and the series of
which it is one)* does not exceed any constitutional or statutory limi
tations and that provision has been made for the payment of the principal
of and interest on this Bond (and the series of which it is one)* by ir
revocably pledging the allocated proceeds of the continuing ad valorem
tax hereinabove mentioned. 
IN WITNESS WHEREOF, the Board of Regents of Stenhen F. Austin
State University has caused the official seal of said Board to be im
pressed, printed or lithographed hereon and has caused this Bond and the
'Applicable to Bonds in denominations of $5,000.00.  27-15
16
interest coupons attached hereto to be executed by the imprinted fac
simile signatures of the Chairman of the Board and the Secretary of the
Board. 
BOARD OF REGENTS OF STEPHEN
F. AUSTIN STATE UNIVERSITY
By
Chairman
ATTEST:
Secretary
^Applicable only to bonds of the denomination of $5,000. 
FORM OF COUPON
NO. 
On the 1st day of September, 1978, the Board of Regents of
Stephen F. Austin State University promises to pay to bearer, without
exchange or collection charges to the bearer from the proceeds of the ad
valorem tax described in the Bond to which this coupon is attached the
SUIT1 of ($ ) in lawful money of the United States
of America at First National Bank in Dallas, Dallas, Texas, being the
interest then due on its Universities of the State of Texas State Sub
ordinate Ad Valorem Tax Bonds, Series 1975 - Stephen F. Austin State Uni
versity.  No. ,  for the period from , 19 to
, 19 .  This coupon is payable at the option of the
Board, prior to its due date,
Secretary Chairman
27-16
17
FORM OF BOND
REGISTERED AS TO PRINCIPAL AND INTEREST
NO. 
UNITED STATES OF AMERICA
STATE OF TEXAS
UNIVERSITIES OF THE STATE OF TEXAS
STATE SUBORDINATE AD VALOREM TAX BOND
SERIES 1975
STEPHEN F. AUSTIN STATE UNIVERSITY
For value received the Board of Regents of Stephen F. Austin
State University, an agency of the State of Texas, and as authorized
by the Constitution of the State of Texas, hereby acknowledges itself
indebted to and promises to pay out of the proceeds of the ad valorem
tax herein described to , or registered assigns at the
First National Bank in Dallas, Dallas, Texas, on the 1st day of September,
1978, the principal sum of
THOUSAND DOLLARS
and to pay, but solely from such source, to the registered owner hereof
by check or draft mailed to the registered owner at his address as it
appears on the bond registration books interest thereon from the date
hereof until maturity at the rate of per cent ( %) per
annum, payable September 1, 1978.  As stated in the resolution authorizing
this Bond, accrued interest may be paid prior to September 1, 1978, at
the option of the University for six month periods of accrual.  Both
principal and interest shall be payable in lawful money of the United
States of America without exchange or collection charges to the owner
thereof. 
This Bond is (one of a series of bonds (hereinafter sometimes
27-17
18
cm lied the "Bonds11) of like tenor and effect except as to number
and interest rate, numbered from (1)
through ( ))*, issued for the purpose of acquiring,
constructing and initially equipping buildings and other permanent
improvements at Stephen F. Austin State University, Nacogdoches, Texas,
in accordance with the provisions of Section 17, of Article VII, as
amended, of the Constitution of Texas, and pursuant to the resolution
authorizing the issuance of this Bond (and the series of Bonds of which
this is one)*, adopted by the Board of Regents of Stephen F. Austin
State University, duly of record in the minutes of said Board (herein
called the "Resolution"). 
The date of this Bond in conformity with the Resolution is
March 1, 1975. 
This Bond (and this Series of which it is one)* is secured by
a pledge of that part allocated to Stephen F. Austin State University of
the proceeds of a continuing tax on all the taxable property in the State
levied by Section 17 of Article VII of the Constitution, as amended on
November 2, 1965, accumulated and held in the State Treasury, provided
no payment of the principal of or the interest on this Bond (or the
series of which this is one)* shall be made until all of the principal
of and interest on the Universities of the State of Texas State Ad Valoren
Tax Bonds, Series 1972 - Stephen F. Austin State University, dated May 1,
1972, Universities of the State of Texas State Ad Valorem Tax Bonds,
Series 1972-A - Stephen F. Austin State University, dated July 1, 1972
and Board of Regents of Stephen F. Austin State University State Ad
Valorem Tax Bonds, Series 1974, dated March 1, 1974, heretofore issued
against such tax resources shall have been paid in full or until money
has been set aside in the interest and sinking fund therefore sufficient
27-18
19
to pay the principal thereof and interest thereon to maturity.  The
levy of such tax and the pledge thereof will remain effective so long
as this Bond (or any of the series of which this is one)* is outstanding
and unpaid. 
This Bond shall be transferable only on the books of the
Board to be kept for that purpose at the Bank of Payment upon surrender
hereof by the registered owner in person or by duly authorized attorney
upon presentation of a written instrument of transfer duly executed. 
Such transfers shall be without expense to the owner hereof. 
IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions
and things required to be done precedent to and in the issuance of this
Bond (and the series of which it is one)* have been properly done, have
happened and been performed in regular and due time, form and manner as
required by the Constitution and laws of the State of Texas, and the
proceedings hereinabove mentioned, and that this Bond (and the series
of which it is one)* does not exceed any constitutional or statutory
limitations and that provision has been made for the payment of the princi
pal of and interest on this Bond (and the series of which it is one)*
by irrevocably pledging the allocated proceeds of the continuing ad
valorem tax hereinabove mentioned. 
IN WITNESS WHEREOF, the Board of Regents of Stephen F. Austin
State University has caused the official seal of said Board to be impres
sed, printed or lithographed hereon and has caused this Bond to be exe
cuted by the (imprinted facsimile signatures of)* the Chairman of the
Board and the Secretary of the Board. 
*Applicable only to bonds of the denomination of $5,000. 
27-19
20
BOARD OF REGENTS O!;  STEPHEN l;. 
AUSTIN STATE UNIVERSITY
By
Chairman
ATTEST:
Secretary
8.  Comptroller's Certificate - That the form of Comptroller's
Certificate which shall be printed on the back of each of the Bonds shall
be substantially as follows:
OFFICE OF COMPTROLLER I
I
STATE OF TEXAS I REGISTER NO. 
I HEREBY CERTIFY that there is on file and of record in ny
office a certificate of the Attorney General of the State of Texas to
the effect that this Bond has been examined by him as required by Section
17 of Article VII of the Constitution, as amended, and that he finds that
it has been issued in conformity with the Constitution and laws of the
State of Texas and that it is a valid and binding obligation payable from
the proceeds of the State ad valorem tax pledged to its payment by and
in the Resolution of said Board of Regents of Stephen F. Austin State
University, an educational institution belonging to the State of Texas
duly constituted under authority of law authorizing same and said Bond
has this day been registered by me. 
WITNESS MY HAND and seal of office at Austin, Texas. 
Comptroller of Public Accounts of
the State of Texas
(SEAL)
27-20
21
9.  Definitions - That throughout this Resolution, in the
bond form prescribed herein and in the Bonds authorized hereby, the fol
lowing terms and expressions as used herein shall have the meanings set
forth, to-wit:
The term "Bank of Payment" shall refer to the First National
Bank in Dallas;
The term "Board" shall refer to the Board of Regents of
Stephen F. Austin State University, Nacogdoches, Texas;
The term "Bonds" shall refer to the bonds authorized to be
issued under the provisions of this resolution whether in denominations
of $5,000 or as a single bond;
The term "Comptroller" shall refer to the Comptroller of Public
Accounts of the State of Texas;
The term "Constitutional Provision" shall mean Article VII,
Section 17 of the Constitution of Texas as amended November 2, 1965;
The term "Eligible Institutions" shall mean the seventeen state
supported institutions of higher learning designated as those insti
tutions to receive allocated proceeds from the tax levied by the Consti
tutional Provision;
The term "Interest and Sinking Fund" shall mean the fund
established for the University in the State Treasury and further described
in Section 11 hereof;
The term "Outstanding Bonds" shall mean collectivly the Series
1972 Bonds, the Series 1972A Bonds and The Series 1974 Bonds. 
The term "Presiding Officer" shall mean the officer designated
by law to preside over the Board;
The term "Resolution" shall mean this resolution authorizing
27-21
the Bonds;
22
The term "Series 1972 Bonds" shall refer to Universities
of the State of Texas State Ad Valorem Tax Bonds, Series 1972 - Stephen
P. Austin State University, dated May 1, 1972;
The term "Series 1972-A Bonds" shall refer to Universities of
the State of Texas State Ad Valorem Tax Bonds, Series 1972-A - Stephen
F. Austin State University, dated July 1, 1972;
The term "Series 1974 Bonds" shall refer to Board of Regents
of Stephen F. Austin State University State Ad Valorem Tax Bonds, Series
1974, dated March 1, 1974;
The term "University" shall refer to Stephen F. Austin State
University, Nacogdoches, Texas. 
10.  Findings, Pledge o£ Payment, Additional Bonds - That of
ficial recognition is hereby given to these facts:
(a) That Section 17 of Article VII of the Constitution, as
amended in 1965 (the "Constitutional Provision") has levied a continuing
ad valorem tax on all taxable property in the State of Texas, at the
rate of Ten (10<<</the One Hundred Dollars ($100.00) of valuation;
(b) That such tax has been effective since January 1, 1966
and will remain effective so long as any of the Bonds is outstanding and
unpaid;
(c) That as and when the proceeds from such tax levy are
received by the Comptroller the net amounts realized therefrom (including
the portion thereof allocated to the University) are deposited in the
State Treasury to be held for the purposes set forth in the Constitutional
Provision;
(d) That the Comptroller on June 1, 1966 allocated among the
Eligible Institutions 85% of the said tax to be received for the twelve
27-22
year period beginning January 1, 1966, and on June 1, 1972 allocated
among the Eligible Institutions the remaining 15% of the said tax for the
said twelve year period, all in accordance with the Constitutional Pro
vision ;
(e) That it is the duty of the Comptroller to draw all neces
sary and proper warrants upon the State Treasury to effectuate the
pledge of such money heretofor made to pay the principal of and interest
on the Outstanding Bonds and made in this Resolution to pay the principal
of and interest on the Bonds, and to otherwise facilitate payment of all
such bonds and the interest thereon; and
(f) That while such tax will remain effective so long as any
of the Outstanding Bonds or the Bonds is unpaid, the Board must arrange
the installment maturities of the Bonds and make its pledge of the taxes
allocated to the University so that all such bonds will be actually re
tired out of taxes collected from assessments made during the twelve year
period beginning January 1, 1966. 
Accordingly, the Board irrevocably pledges to the payment of the
principal of and interest on the Outstanding Bonds and the Bonds, the fol
lowing:
(1) All of the money now in the State Treasury to the
credit of the University, realized from the collection of the
continuing tax levied by the Constitutional Provision;
(2) All of the proceeds from such continuing tax to which
it is entitled levied for each of the years 1966 to 1977, both
inclusive, and allocated June 1, 1966, and June 1, 1972, by the
Comptroller, which tax according to law becomes due on October
1 of each of said years;
27-23
24
(3) In the event that any of the Bonds or any interest
thereon remains outstanding and unpaid on the date the last
of the Bonds is scheduled to mature, and in the event the
Interest and Sinking Fund shall then contain insufficient money
to pay all of such principal and interest and the expense inci
dental to the making of such payments, to the extent of such
deficiency, the proceeds from such continuing tax to which the
University may be entitled under the allocations made by the
Comptroller on June 1, 1966 and June 1, 1972 or additional
allocations or reallocation arrangements then in effect are
pledged and such pledge shall remain effective until the Bonds
shall have been paid in full with Interest thereon; but when
full provision shall have been made for the final payment of
the Outstanding Bonds and the Bonds by depositing money suf
ficient for the purpose in the Interest and Sinking Fund, the
obligation under this sub-section (3) will have been fully
satisfied and the pledge will have been released; and
(4) The money pledged to the payment of the Outstanding
Bonds and the Bonds shall be used solely to pay the principal
of and interest on the Outstanding Bonds and the Bonds, and to
defray the expense incident to such payments so long as any
of such bonds or interest thereon is outstanding and unpaid. 
After full provision shall have been made by accumulating in
the Interest and Sinking Fund sufficient money Interest and
Sinking Fund sufficient money to pay all of such Bonds and
interest calculated thereon to maturity, the Board reserves
the right to use money in excess thereof for such purposes as
may be permitted under the Constitutional Provision. 
25
Provided, however, no payment of the principal of or interest on the
Bonds shall he mnde until the principal of and the interest on all of
the Series 1972 Bonds, the Series 1972-A Bonds and Scries 1974 Bonds
heretofore issued against such tax resources shall have been paid in full
or until money has been set aside in the interest and sinking fund there
for sufficient to pay the principal thereof and interest thereon to
maturity. 
11.  Interest and Sinking Fund - That (a) the Treasurer of
the State of Texas has established in the State Treasury a fund known
as Constitutional Tax Bonds Interest and Sinking Fund (herein defined
and referred to as the ''Interest and Sinking FundM);
(b) As received into the State Treasury the said allocated
money of the University shall be credited to the Interest and Sinking
Fund in the manner and to be held in accordance with the pledge contained
in Section 10 hereof. 
12- Procedure for Remitting to Bank of Payment -
That
(a) In accordance with the requirements of the Constitutional
Provision that nThe State Comptroller of Public Accounts shall draw all
necessary and proper warrants upon the State Treasury, in order to carry
out the purpose of this amendment," to the end that money will be available
at the Bank of Payment in ample time to pay the principal of and interest
on the Bonds, as such principal and interest, respectively, matures and
comes due, the Comptroller of Public Accounts of the State of Texas, on
or before the first February 15 or August 15, after all of the Outstanding
Bonds have been paid or funded as herein required and thereafter on or
before each February 15 and August 15 of each year while any of the Bonds
27-25
26
is outstanding and unpaid, shall draw a warrant against the Interest and
Sinking l;uncl in the amount of the interest that will have accrued on
the Bonds on or before the succeeding March 1 or September 1, as the
case may be to the extent there are moneys therein sufficient to pay
interest on the Bonds for one or more periods of accrual.  Such warrant
to be drawn on or before August 15, 1978, shall include the principal
amount of the Bonds maturing on September 1, 1978.  The amount of each
such warrant shall be increased by the amount of the charges of the Bank
of Payment for making payment of the Bonds or interest thereon on each
such date.  Within the discretion of the Comptroller of Public Accounts
he may draw a separate warrant for the payment of such charges;
(b) Each such warrant shall be made payable to the order of
the Bank of Payment, and the Comptroller of Public Accounts shall deliver
such warrant to the payee Bank. 
13.  Enforcement <Df Rights of Bondholders - That all rights
available to the holders of the Bonds under the Constitution and laws of
the State, by suit for mandamus or otherwise, to compel the performance
of their official duties by the Board, its officers, the officers of
counties, or the officers of the State to the end that the principal of
and interest on the Bonds may be timely paid, are hereby recognized and
reserved to and for the holders of the Bonds and of the appurtenant coupons. 
14.  Arbitrage Provisions - That the Board covenants to and
with the purchasers of the Bonds that it will make no use of the r>roceeds
of the Bonds at any time throughout the term of this issue of Bonds which,
if such use had been reasonably expected on the date of delivery of the
Bonds to and payment for the Bonds by the purchasers, would have caused
27-26
27
the Bonds to be artitrage bonds within the meaning of Section 103(d)
of the Internal Revenue Code of 1954, as amended, or any regulations or
rulings pertaining thereto; and by this covenant the Board is obligated
to comply with the requirements of the aforesaid Section 103(d) and all
applicable and pertinent Department of the Treasury regulations relating
to arbitrage bonds.  The Board further covenants that the proceeds of
the Bonds will not otherwise be used directly or indirectly so as to
cause all or any part of the Bonds to be or become arbitrage bonds within
the meaning of the aforesaid Section 103 (d), or any regulations or
rulings pertaining thereto. 
15.  Confirmation o_f Sale of Bonds - That the sale of the Bonds
to First National Bank in Dallas, Dallas, Texas, at a price of par and
accrued interest to date of delivery, plus a premium of $ 27.44 be
and the same is hereby confirmed. 
16.  Custody and Delivery of Bonds - That the Presiding Officer
or his designee is hereby authorized to have control of the Bonds and all
necessary records and proceedings pertaining to the Bonds pending their
delivery and the investigation, examination and approval by the Attorney
General of the State of Texas, and their registration by the Comptroller
of Public Accounts of the State of Texas.  Upon registration of the Bonds,
said Comptroller of Public Accounts (or a deputy designated in writing
to act for said Comptroller) shall manually sign the Comptroller's
Registration Certificate printed and endorsed on each of the Bonds, and
the seal of said Comptroller shall be impressed, or placed in facsimile,
on each of the Bonds. 
27-27
28
74-129
Upon motion of Regent Perkins, seconded by Regent Wright, with all
members voting aye, it was ordered that the contract for the completion
of the Observatory with T. G. Evans Construction Company for $35,450.00
be approved and the Chairman of the Board be authorized to sign the
contract. 
27-28
CONTRACT
THE STATE OF TEXAS
KNOW ALL MEN BY THESE PRESENTS
COUNTY OF NACOGDOCHES
THIS AGREEMENT, made this the Seventh day of February, 1975
by and between the BOARD OF REGENTS , STEPHEN F , AUSTIN
STATE UNIVERSITY , NACOGDOCHES, TEXAS, acting herein through its
President, hereinafter called "Owner" and T. G. EVANS CONSTRUCTION
COMPANY, NACOGDOCHES, TEXAS, hereinafter called "Contractor11 . 
WITNESSETH, that the Contractor and the Owner for the con
siderations hereinafter named agree as follows:
1.  The Contractor agrees to provide all of the materials, furnish the
labor, and do all things necessary to complete fully all of the work-shown
on the Drawings and described in the Specifications entitled
"OBSERVATORY - DOME AND SUPPORT CYLINDERS, STEPHEN F,
AUSTIN STATE UNIVERSITY, NACOGDOCHES, TEXAS"
prepared by Kent-Marsellos-Scott, Architects-Engineers,
Lufkin, Texas acting as and in these Contract Documents entitled the
Architect; and shall do everything required by this Agreement, the
"General Conditions" of the Contract, the Drawings and the Specifications. 
2.  The "General Conditions" of the Contract, the "Supplementary Conditions",
the Drawings and the Specifications, together with this Agreement,
27-29
form the Contract, and they are as fully a part of the Contract as
if hereto attached or herein repeated .  The following is an enum
eration of the Specifications and Drawings:
Drawings and Specifications entitled "OBSERVATORY - DOME AND
SUPPORT CYLINDERS, STEPHEN F. AUSTIN STATE UNIVERSITY,
NACOGDOCHES, TEXAS11
sheet and section numbers as listed in Paragraph 1.1 of "Supplementary
Conditions"; and the following:
Addendum No.  1 dated 1/10/74, Page 1
Addendum No.  2 dated 1/14/74, Page 1
Addendum No.  3 dated 1/75, Pages 1-3
This contract is to consist of the work covered by
PROPOSAL NO.  2 - OBSERVATORY DOME AND SUPPORT
CYLINDERS. 
1.  This Contract is to cover the General Contract Work complete. 
The said Drawings, and each and all of said Specifications and
"General Conditions" are made a part of this Agreement for all intents
and purposes; provided that if anything in the said "General Conditions"
of the Contract is in conflict with this Agreement; this Agreement shall
control and govern. 
-2-
27-30
2.  The work called for and included in this Agreement is to be
done under the direction of the Architect above named and his
determination of the true meaning and proper construction of the
Specifications shall be considered as final. 
3.  The work to be performed under this Contract shall be commenced
on or before a date to be specified in a written "Work Order" , and
shall be fully completed within 150 consecutive calendar days
thereafter.  The Contractor further agrees to pay as liquidated
damages the sum of $25.00 per day for each consecutive calendar
day thereafter the work remains unfinished as specified in Paragraph
1.44 of "Supplementary Conditions" and in Proposal. 
4.  The Owner shall pay the Contractor for the performance of the
Contract, subject to additions and deductions provided herein,
THIRTY FIVE THOUSAND FOUR HUNDRED FIFTY AND NO/100 ($35,450 .00;
out of Departmental Operating Account - Physics Department, and
other funds available to the Owner for expenditure for the use and
benefit of Stephen F .  Austin State University. 
The basis of the above contract price is as follows:
$ 33,950.00
1,500.00
$35,450.00
The Owner shall make payments on account of the Contract as
provided therein as follows: On or about the fifteenth of each month
ninety percent (90%) of the value, based on the Contract Price of
labor and materials incorporated in the work and of materials
suitably stored at the site thereof up to the first day of that month,
as estimated by the Architect, less the aggregate of previous
payments; and upon substantial completion of the entire work,
a sum sufficient to increase the total payments to ninety percent
(90%) of the Contract Price provided satisfactory evidence is
furnished that all payrolls, material bills and other indebtedness
connected with the work have been paid.  The Owner at any time
after 50% of the work has been completed, if it finds that satis
factory progress is being made, may make any of the remaining
progress payments in full.  Final payment shall be due thirty days
after substantial completion of the work provided the work be then
fully completed and the Contract fully performed.  Upon receipt of
written notice that the work is ready for final inspection and accept
ance, the Architect shall promptly make such inspection, and when
he finds the work acceptable under the Contract and the Contract
fully performed he shall promptly issue a Final Certificate, over
his own signature, stating that the work provided for in this Contract
-4-
27-32
has been completed and is acceptable to him under the terms and
conditions thereof, and that the entire balance found to be due the
Contractor, and noted in the Final Certificate is due and payable. 
Before issuance of Final Certificate the Contractor shall submit
evidence satisfactory to the Architect that all payrolls, material
bills and other indebtedness connected with the work have been paid . 
5.  The Contractor shall pay premium for and furnish Performance
Bond and Payment Bond in amount of 100% of Contract Price;
on form to be furnished by Architect, with sureties acceptable
to the Owner, conditioned:
1.  That Contractor shall faithfully perform his
Contract and fully indemnify and save Owner harmless
from all costs and damages which may be suffered by
reason of failure to do so, and fully reimburse and re
pay Owner all outlay and expense which Ov/ner may incur
in making good any default. 
2 .  That Contractor shall pay all persons who have con
tracts directly with Contractor for labor and materials
save which persons shall have a direct action against
Contractor and the surety on his bond, subject to
Owner's priority. 
-5-
27-33
34
Surety Companies shall be on approved list of U .  S . 
Treasury Department of "Companies holding Certificates
of Authority from the Secretary of the Treasury under
the Act of Congress Approved July 30, 1957, as
Acceptable Sureties on Federal Bonds" and within the
Underwriting limitations listed therein for any single
risk. 
Bond shall comply with requirements of all state laws;
including those of Article 5160 Revised Civil Statutes
of Texas, 1925, as amended by House Bill 344, Acts
56th legislature, Regular Session, 1959, effective
April 27, 1959. 
6.  The Contractor shall effect, pay for and maintain during
the life of this Contract insurance acceptable to the Owner,
conforming to the following schedule:
a) Compensation and Employer's Liability Insurance:
As required by the laws of the State of Texas; Employer's
Liability Insurance, $500,000.00. 
b) Comprehensive General Liability Insurance and Auto-mobile
Liability Insurance: In an amount not less than
$500,000.00 for injuries, including personal injury or
accidental death
-6-
27-34
to any one person, and in an amount not less than
$500,000.00 on account of one occurrence; Property Damage
insurance in an amount not less than $300, 000.00 . 
c) Include Broad Form Property Damage Insurance.  Remove
"XCU" Exclusions (Explosion, collapse, underground
property damage) .  Include damage to underground wiring,
conduits, piping . 
d) Contractual Liability Insurance: As applicable to the
Contractor's obligations under Paragraph 4.18 of "General
Conditions11 .  The Contractor shall obtain at his expense
Owner's Protective Liability Insurance Policy naming
the Owner and the Architect/Engineer as insured with
the following limits:
1.  Bodily Injury
$500,000.00 (each person)
$500,000.00 (each occurrence)
2 .  Property Damage
$300,000.00 (each occurrence)
e) Completed Operations: Continue coverage in force for
one year after completion of work . 
-7-
27-35
56
f) Before commencement of operations hereunder, Con
tractor shall furnish to the Architect, photostatic copies
of the above mentioned insurance policies, together with
a certificate from the insurance carrier that the insurance
will not be cancelled or permitted to lapse until fifteen
(15) days written notice of said impending cancellation
has been given to the Owner. 
7 .  Builder's Risk Insurance: Delete the first sentence of Paragraph 11.3
of General Conditions.  The work is entirely at the Contractor's risk
until it is accepted by the Owner, and the Contractor will be held liable
for it's safety to the amount of money paid by the Owner on account of
same.  The Contractor shall take out Builder's Risk Insurance on 100%
of the insurable portion of the project for the benefit of the Owner, the
Contractor and all Subcontractors as their interests may appear. 
If the Owner finds it necessary to occupy or use a portion or portions
of the work prior to Substantial Completion,such occupancy shall not
commence prior to a time mutually agreed to by the Owner and Con
tractor and concurred with by the insurance company or companies . 
This insurance shall not be cancelled or lapsed on account of such
partial occupancy . 
-8-
27-36
37
The Contractor shall complete the several portions and the whole
of the work called for under this Agreement and shall deliver said
improvements and premises, upon completion, to the Owner, free
and clear of all liens and claims for labor furnished or materials
used and other indebtedness whatsoever . 
For purposes of complying with the State of Texas Sales Tax,
the following is a division between labor and materials:
Labor j> *{S*O. o o
Materials 3 2
Total $ 35,450.00
-9-
27-37
38
IN WITNESS WHEREOF, the parties of these presents have ex
ecuted this Contract in four (4) counterparts, each of which shall be deemed
an original m the year and day first above mentioned. 
SEAL BOARD OF REGENTS
STEPHEN F .  AUSTIN STATE UNIVERSITY
SEAL
T. G. EVANS CONSTRUCTION COMPANY
NACOGDOCHES, TEXAS
Address
READ AND EXAMINED:
Secretary
Board of Regents, Stephen F .  Austin State University
(1) Corporation name of Owner
(2) Title of authorized official
(3) Strike out inapplicable terms .  Secretary of the Owner should
attest.  If Contractor is corporation, Secretary should attest. 
Give proper title of each person executing Contract. 
27-38
39
.PERFORMANCE BOND
(To be used in Texas as required by Chapter 93 of the
Regular Session of the 56th Legislature of Texas)
THE STATE OF TEXAS
COUNTY OF NACOGDOCHES
KNOW ALL MEN BY THESE PRESENTS: That we (1)
T. G. EVANS COMPANY ___
of (2) Nacogdoches, Texas hereinafter called
Principal and (3) TRINITY UNIVERSAL INSURANCE COMPANY of
Dallas _State of Texas
hereinafter called the Surety, are held and firmly bound into (4)
BOARD OF REGENTS, STEPHEN F. AUSTIN STATE UNIVERSITY
hereinafter call Owner, in the penal sum of Thirty Five Thousand
Four Hundred Fifty and No/100 ----- ___. 
DOLLARS ($ 35,450.00 +)> in lawful money of the United
States, to be paid in (5) Nacogdoches County, Texas _,
for the payment of which sum well and truly to be made, we bind
ourselves, our heirs, executors, administrators and successors,
jointly and severally, firmly by these presents. 
THE CONDITION OF THIS OBLIGATION is such that
\7hereas, the Principal entered into a certain Contract with (6)
BOARD OF REGENTS, STEPHEN F. AUSTIN STATE UNIVERSITY
'" — 9
the Owner, dated the 7th day of February > a. D.,
*9 7i> , a copy of which is attached hereto and made a part
hereof for the construction of: Observatory - Dome and Support Cylinders,
Stephen F. Austin State University, Nacogdoches, Texas,
27-39
40
- 2 -
(Herein called the "Work"). 
NOW, THEREFORE, if the Principal shall well,
truly and faithfully perform the work in accordance with the Plans,
Specifications and Contract Documents during the original term
thereof, and any extensions thereof which may be granted by the
Owner, with or without notice to the Surety, and, if he shall satis
fy all claims and demands incurred under such Contract, and shall
fully indemnify and save harmless the Owner from all costs and
damages which it may suffer by reason of failure to do so, and
shall reimburse and repay the Owner all outlay and expense which
the Owner may incur in making good any default, then this obli
gation shall be void; otherwise to remain in full force and effect. 
NOW, THEREFORE, if the Principal shall repair any
and all defects in said work occasioned by and resulting from de
fects in materials furnished by, or workmanship of the Principal
in performing, the work covered by said Contract, occurring within
a period of twelve (12) months from the date of the Contract Com
pletion Certificate, then this obligation shall be null and void,
otherwise to remain in full force and effect. 
PROVIDED FURTHER, that if any legal action be filed
upon this bond venue shall lie in Nacogdoches
County, State of Texas and that the said Surety, for value received
hereby stipulates and agrees that no change, extension of time,
alteration or addition to the terms of the Contract or to the work
to be performed thereunder or the Specifications accompanying
the same shall in any wise affect its obligation of this bond, and
it does hereby waive notice of any such change, extension of time,
alteration or addition to the terms of the Contract or to the work
or to the Specifications. 
PROVIDED, HOWEVER, that this bond is executed
pursuant to the provisions of Article 5160 of the Revised Civil
Statutes of Texas as amended by Acts of the 56th Legislature,
1959, and all liabilities on this bond shall be determined in
accordance with the provisions of said Article to the same
extent as if it were copied at length. 
27-40
41
-3-
IN WITNESS WHEREOF, this instrument is executed in 4__
counterparts, each one of which shall be deemed an original, this
the
7th
ATTEST:
day of February A.D., 19 75. 
T. 6.  EVANS COMPANY
Principal
(Principal) Secretary
SEAL
Witness as to Principal^
Owner
Tyler, Texas 75701
(Address)
ATTEST:
(Surety) Secretary
TRTNTTY 11NTVFRSAI TNSllRANf. F COMPANY
Surety
BY
Attorney-in-Fact
Witness as to Surety' \
Tyler, Texas 75701
Address
NOTE: Date of Bond must not be prior to date of Contract. 
(1) Correct name of Contractor
(2) A Corporation, A Partnership or an individual, as case
may be. 
(3) Correct name of Surety
(4) Correct name of Owner
(5) County of Parish and State
(6) Owner
(7) If Contractor is Partnership, all partners should
execute bond. 
27-41
PAYMENT BOND 42
(To be used in Texas as required by Jhapter 93 of
the Regular Session of the 56th Legislature of Texas)
THE STATE CF TEXAS
COUNTY OF NA3CC.DCCI-IES
KNCW ALL MEN 3Y THESE FRESENTS: That we
(1) .  T. G. EVANS COMPANY
ai(2) individual
of Nacogdoches, Texas hereinafter called Principal and
(3) TRINITY UNIVERSAL INSURANCE CO, of Dallas ,
state of Texas hereinafter called the Surety,
are held and firmly bound unto (4) LCARD CF REGENTS,
STEPHEN F. AUSTIN STATE UNIVERSITY
hereinafter called Owner, unto all persons, firms, and corpora
tions who may furnish materials for, or perform labor upon the
building or improvements hereinafter referred to in the penal sum
of Thirty Five Thousand Four Hundred Fifty and No/100
DOLLARS ($ 35,450.00 ,
in lawful money of the United States, to be paid in (5)
NACQGDOCHES COUNTY, TEXAS, for the payment of which sum
well and truly to be made, we bind ourselves, our heirs,
executors, administrators and successors, jointly and severally,
firmly by these presents. 
THE CONDITION OF THIS OBLIGATION is such
that Whereas, the Principal entered into a certain contract with
(6) BOARD OF REGENTS, STEPHEN F. AUSTIN STATE
UNIVERSITY , the Owner,
27-42
-2-
datcd the Zth clay of February , A. D., 19 75,
a copy of which is hereto attached and made a part hereof for the
construction of: Observatory - Dome and Support Cylinders, Stephen
F. Austin State University, Nacogdoches, Texas. 
NOW THEREFORE, the condition of this obligation is
such that, if the Principal shall promptly make payment to all
claimants as defined in Article 5160 Prevised Civil Statutes of
Texas, 1925, as amended by House Bill 344, Acts 56th Legislature,
Regular Session, 1959, effective April 27, 1959, supplying labor
and materials in the prosecution of the work provided for in said
Contract, then this obligation shall be null and void; otherwise,
it shall remain in full force and effect. 
This bond is made and entered into solely for the pro
tection of all claimants supplying labor and materials in the pro
secution of the work provided for in said Contract,- and all such
claimants shall have a direct right of action under the bond as
provide in Article 5160, .Revised Civil Statutes, 1925, as
amended by House Bill 344, Acts 56th Legislature, Regular
Session, 1959. 
PROVIDED FURTHER, that if any legal action be
filed upon this bond, venue shall lie in Maco^doches County,
State of Texas, and that the said Surety, for value received hereby
stipulates and agrees that no change, extension of time, alteration
or addition to the terms of the Contract or to the work to be per
formed thereunder or the Specifications accompanying the same
shall in any wise affect its obligation on this bond, and it does
hereby waive notice of any change, extension of time, alteration
or addition to the terms of the Contract or to the work or to the
Specifications. 
PROVIDED FURTHER, that no final settlement
between the Owner and the Contractor shall abridge the ricrht
of any beneficiary hereunder, whose claim may be unsatisfied. 
27-43
44
-3-
IN WITNESS WHEREOF, this instrument is executed in i__. 
counterparts, each one of which shall be deemed an original, this
I. he
7th
ATTEST:
day of February
T. G. EVANS COMPANY
Witness as to Principal'
A.D., 1975 •
(Principal) Secretary
Tyler, Texas 75701
(Address)
ATTEST: TRTNTTY "MTVr^"' TM9linAHCC CCriPAMY
Surety
t
(Surety) Secretary
Witness as to Surety
Tyler, Texas 75701
Address
NOTE
(1)
(2)
(3)
(4)
(5)
(7)
: Date of Bond must not be prior to date of Contract. 
Correct name of Contractor
A Corporation, A Partnership or an individual, as case
may be. 
Correct name of Surety
Correct name of Owner
County of Parish and State
S'contractor is Partnership, all partners should
execute bond. 
27-44
45
74-130
Upon motion of Regent Wright, seconded by Regent flolden, with all
members voting aye, it was ordered that the University be authorized
to appropriate the necessary funding from available funds to cover flood
and storm damage experienced February 1 and to apply for emergency ap
propriations as may be made available, either in the current fiscal year
or the ensuing legislative biennium. 
Meeting adjourned at 12:00 noon
27-45

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MINUTES OF Board of Regents of Stephen F. Austin State University VOLUIE 110.  27 February 7, 1975 Nacogdoches, Texas INDEX Minutes of the Meeting Stephen F. Austin State University Board of Regents held in Nacogdoches, Texas VOLUME NO.  27 February 7, 1975 Page 74-128 Approval of Sale of State Subordinate Ad Valorem Tax Bonds 27-2 74-129 Approval of Contract to Complete Observatory 27-28 74-130 Authority to Appropriate Funds to Cover Flood and Storm Damage 27^5 MINUTES OF THE MEETING BOARD OF REGENTS STEPHEN F. AUSTIN STATE UNIVERSITY HELD IN NACOGDOCHES, TEXAS February 7, 1975 The meeting was called to order by Walter C. Todd, Chairman of the Board of Regents, at 11:00 a.m. February 7, 1975.  PRESENT: Members: Walter C. Todd of Dallas Ernest Powers of Carthage James I. Perkins of Rusk Joe Bob Golden of Jasper Mrs. Peggy Wedgeworth Wright of Nacogdoches ABSENT: Robert C. Gray of Austin Homer Bryce of Henderson Mrs. George Cullum, Jr. of Dallas Glenn Justice of Dallas PRESENT: C. G. Haas, Secretary of the Board Dr. R. W. Steen, President of the University 74-128 Upon motion of Regent Perkins, seconded by Regent Powers, with all members voting aye, it was ordered that the bid of 4.45% plus 27.44 in premium from the First National Bank of Dallas, Texas, on the BOARD OF REGENTS, STEPHEN F. AUSTIN STATE UNIVERSITY, STATE SUB ORDINATE AD VALOREM TAX BONDS, SERIES 1975, of $1,715,000 be accepted; that the Bond Resolution and anpropriate documents prepared by Messrs. McCall, Parkhurst § Horton be approved; and that the Chairman of the Board be authorized to sign the documents.  27-2 THE STATE OF TEXAS I I COUNTY OF NACOGDOCHES I We, the undersigned, Chairman of the Board of Regents and Secretary of the Board of Regents at Stephen F. Austin State University do hereby certify as follows: 1.  That this certificate is for the benefit of the Attorney General of the State of Texas and the purchasers and subsequent holders of the Universities of the State of Texas State Subordinate Ad Valorem Tax Bond, Series 1975 - Stephen F. Austin State University, issued in the principal amount of $1,715,000 and dated March 1, 1975.  2.  That all bonds and notes issued by the Board of Regents of said University payable from the tax levied by Section 17 of Article VII of the Constitution as adopted in 1947, as amended in 1956, or as amended in 1965, have been paid and are no longer outstanding, except with respect to the following issues of bonds: Universities of the State of Texas State Ad Valorem Tax Bonds, Series 1972, dated May 1, 1972; Universities of the State of Texas State Ad Valorem Tax Bonds, Series 1972-A, dated July 1, 1972; Board of Regents of Stephen F. Austin State University State Ad Valorem Tax Bonds, Series 1974, dated March 1, 1974; and Universities of the State of Texas State Subordinate Ad Valorem Tax Bonds, Series 1975, dated March 1, 1975.  EXECUTED this 7th day of February, 1975.  /s/ Walter C. Todd Chairman, Board of Regents Stephen F. Austin State University ATTEST: /s/ C. G. Haas Secretary, Board of Regents Stephen F. Austin State University 27-3 (SEAL) CERTIFICATE FOR RESOLUTION AUTHORIZING THE ISSUANCE OF BONDS THE STATE OF TEXAS I COUNTY OF NACOGDOCHES I STEPHEN F. AUSTIN STATE UNIVERSITY I We, the undersigned officers of the Board of Regents of Stephen F. Austin State University, hereby certify as follows: 1.  The Board of Regents of said University convened in SPECIAL MEETING ON THE 7TII DAY OF FEBRUARY, 1975, at the Regents Conference Board Room, Nacogdoches, Texas, and the roll was called of the duly constituted officers and members of said Board, to-wit: Walter C. Todd, Chairman Glenn Justice Robert C. Gray, Vice Chairman Ernest Powers James I. Perkins Mrs. George Cullum, Jr. Mrs. Peggy Wedgeworth Wright Joe Bob Golden Homer Bryce Charles G. Haas, Secretary and all of said persons were present, except the following absentees: Robert C. Gray; Homer Bryce; Glenn Justice; and Mrs. George Cullum, Jr., thus constituting a quorum.  Whereupon, among other business, the following was transacted at said Meeting: a written RESOLUTION AUTHORIZING THE ISSUANCE OF UNIVERSITIES OF THE STATE OF TEXAS STATE SUBORDINATE AD VALOREM TAX BONDS, SERIES 1975 - STEPHEN F. AUSTIN STATE UNIVERSITY was duly introduced for the consideration of said Board and read in full.  It was then duly moved and seconded that said Resolution be adopted; and, after due discussion, said motion, carrying with it the adoption of said Resolution, prevailed and carried by the following vote: AYES: All members of said Board shown present above voted MAye.n NOES: None.  2.  That a true, full, and correct copy of the aforesaid Reso lution adopted at the Meeting described in the above and foregoing para graph is attached to and follows this Certificate; that said Resolution has been duly recorded in said Board's minutes of said Meeting; that the above and foregoing paragraph is a true, full, and correct excerpt from said Board's minutes of said Meeting pertaining to the adoption of said Resolution; that the persons named in the above and foregoing paragraph are the duly chosen, qualified, and acting officers and members of said^ Board as indicated therein; that each of the officers and members of said Board was duly and sufficiently notified officially and personally, in advance, of the time, place, and purpose of the aforesaid Meeting; and that said Resolution would be introduced and considered for adoption at said Meeting, and each of said officers and members consented, in advance, to the holding of said Meeting for such purpose; and that said Meeting was open to the public, and public notice of the time, place, and purpose of said Meeting was given, all as required by Vernon's Ann.  Civ.  St. Article 6252-17, as amended.  27-4 SIGNED AND SF.ALiil) the 7th day of February, 1975.  /s/ C. G. Haas /s/ Walter C. Todd Secretary Chairman (SEAL) 27-5 RESOLUTION BY THE BOARD OF REGENTS OF STEPHEN F. AUSTIN STATE UNIVERSITY AUTHORIZING TOE ISSUANCE OF ITS UNIVERSITIES OF THE STATE OF TEXAS STATE SUBORDINATE AD VALOREM TAX BONDS, SERIES 1975, IN THE AGGREGATE PRINCIPAL AMOUNT OF $1,715,000, BEARING INTEREST AS HEREINAFTER SET FORTH AND MATURING AS HEREINAFTER PRESCRIBED, TO PROVIDE FUNDS FOR THE PURPOSE OF ACQUIRING, CONSTRUCTING AND INITIALLY EQUIPPING BUILDINGS AND OTHER PERMANENT IMPROVEMENTS AT STEPHEN F. AUSTIN STATE UNIVERSITY, NACOGDOCHES, TEXAS, PRESCRIBING THE FORM OF THE BONDS, PLEDGING TO THE PAYMENT OF THE INTEREST AND PRINCIPAL THEREOF THAT PART OF THE MONEY ALLOCATED TO SUCH INSTITUTION FROM THE CONTINUING TAX LEVIED BY THE CONSTITUTION UNDER ARTICLE VII, SECTION 17, AS AMENDED, SUBJECT TO THE PLEDGE OF SUCH ALLOCATED FUNDS TO OUTSTANDING BONDS: PROVIDING FOR THE EXECUTION AND DELIVERY OF SAID BONDS AND PRESCRIBING THE DUTIES OF THE OFFICERS OF SAID BOARD AND OF THE STATE IN REFERENCE THERETO, AND MAKING CERTAIN COVENANTS WITH RESPECT TO SECURING PAYMENT OF SAID BONDS AND INTEREST.  WHEREAS, by adoption at the general election held in the State of Texas on November 2, 1965, Section 17 of Article VII of the Consti tution of Texas was amended as a whole (hereinafter sometimes called the "Constitutional Provision"); and WHEREAS, the Constitutional Provision is self-enacting and has continued an ad valorem tax on all of the taxable property in the State of Texas at an increased rate of Ten (10al amount, numbered R-I, if registered.  All coupon Bonds and the coupons appertaining thereto shall pass by delivery, and payment thereof to bearer shall fully discharge the University in respect to the Bond or the interest therein mentioned.  The Board shall keep or cause to be kept at the Bank of Payment books for the registration and transfer of Bonds en titled to registration and transfer.  The Board hereby appoints as its registrar and transfer agent to keep such books and make such regis trations and transfers under such reasonable regulations as the University or the Bank of Payment may prescribe; and the Bank of Payment will register or transfer or cause to be registered or transferred therein, as herein-above provided, any Bonds entitled to be so registered or transferred, upon presentation thereof.  Registered Bonds without coupons may be transferred on the aforesaid registration books by the registered owner in person or by his duly authorized attorney, by proper written instrument of transfer in form and with guaranty of signatures satisfactory to the University and the Bank of Payment.  4- Security and Payment - That the Bonds shall be dated March 1, 1975, and shall become due and payable on September 1, 1978, pro vided that no payments of principal or interest shall be made on the Bonds until all of the Outstanding Bonds and the interest thereon have been paid 27-10 11 in full or money has been set aside in the Interest and Sinking Fund therefor sufficient to pay the principal thereof and interest thereon to maturity.  No payment of the principal of the Bonds shall be made until September 1, 1978, but payments of accrued interest shall be made on any March 1 and September 1 on or after which there has been set aside in the Interest and Sinking Fund sufficient money to pay in full the principal of and interest to maturity on the Outstanding Bonds.  Accrued interest payments will be made for periods of accrual in chrono logical order.  All funds available to the Board for such purpose from taxes collected and allocated under Article VII, Section 17, as amend ed, of the Constitution of Texas will be applied on each such March 1 and September 1 to the payment of interest on the Bonds on each occasion that the Board receives moneys from the Comptroller of Public Accounts of the State of Texas or from the Treasurer of the State of Texas for such purpose.  That the principal of and the interest on (if the Bonds are issued in coupon form) the Bonds shall be payable, in lawful money of the United States of America, without exchange or collection charges to the owner or holder thereof, upon presentation and surrender of proper Bond or coupon, at First National Bank in Dallas, Dallas, Texas (hereinafter defined as nBank of PaymentM).  With respect to any Bond issued in registered form, interest payments shall be made without ex change or collection charges to the owner thereof by mailing a check payable to the registered owner at his address on file with the Bank of Payment.  That the Bonds shall be in all respects on a parity and no one of said Bonds shall be entitled to priority over any other Bond of this issue in the application of the money in the allocated fund which has been pledged to the payment of the principal of and interest on the 27-11 12 Bonds, irrespective of the fact that some of the Bonds may be delivered prior to the delivery of other Bonds, it being the intent of this reso lution that all Bonds of this issue shall rank equally.  5.  Execution olF Bonds and Coupons - That each of said Bonds and interest coupons shall be signed by (the imprinted or lithographed facsimile signature of the)* Presiding Officer and countersigned by (the imprinted or lithographed facsimile signature of)* the Secretary of the Board, and the official seal of said Board shall be impressed, printed or lithographed on each of said Bonds.  6.  Negotiability.  That nothing contained in the Bonds or in this resolution shall affect or impair the negotiability of the Bonds or the coupons thereto appertaining, and said Bonds and coupons shall con stitute negotiable instruments within the meaning of the Uniform Commercial Code of the State of Texas.  7.  Forms £f Bonds and Coupons.  That the forms of the bonds and coupons shall be substantially as follows: FORM OF^ COUPON BOND NO. "  $5,000 ^Applicable to Bonds in denominations of $5,000.00.  27-12 13 UNITED STATES OF AMERICA STATE OF TEXAS UNIVERSITIES OF THE STATE OF TEXAS STATE SUBORDINATE AD VALOREM TAX BOND SERIES 1975 STEPHEN F. AUSTIN STATE UNIVERSITY For value received the Board of Regents of Stephen F. Austin State University, an agency of the State of Texas, and as authorized by the Constitution of the State of Texas, hereby acknowledges itself in debted to and promises to pay out of the proceeds of the ad valorem tax herein described to the bearer, on the 1st day of September, 1978, the sum of THOUSAND DOLLARS with interest thereon from the date hereof at the rate of ( %) per cent per annum, as indicated by seven (7) coupons, each in the amount of _($_ )> payable on September 1, 1978.  As stated in the resolution authorizing this Bond said coupons representing accrued interest may be paid at the option of the University prior to September 1, 1978.  Both principal and interest shall be payable in lawful money of the United States of America upon presentation and surrender of proper bond or coupon at the First National Bank in Dallas, Dallas, Texas, without exchange or collection charges to the owner or the holder thereof.  This Bond is one of a series of bonds (hereinafter sometimes called the "Bonds") of like tenor and effect except as to number and interest rate, numbered from One (1) through { JJ*> issued for the purpose of acquiring, constructing and initially equipping buildings and other permanent improvements at Stephen F. Austin State University, Nacogdoches, Texas, in accordance with the provisions of 27-13 14 Section 17, of Article VII, as amended, of the Constitution of Texas, and pursuant to the resolution authorizing the issuance of this Bond (and the series of Bonds of which this is one)* adopted by the Board of Regents of Stephen F. Austin State University (the MBoardM) duly of record in the minutes of said Board (herein called the "Resolution").  The date of this Bond in conformity with the Resolution is March 1, 1975.  This Bond (and this Series of which it is one)* is secured by a pledge of that part allocated to Stephen F. Austin State University of the proceeds of a continuing tax on all the taxable property in the State levied by Section 17 of Article VII of the Constitution, as amended on November 2, 1965, accumulated and held in the State Treasury, pro vided no payment of the principal of or the interest on this Bond (or the series of which this is one)* shall be made until all of the princi pal of and interest on the Universities of the State of Texas State Ad Valorem Tax Bonds, Series 1972 - Stephen F. Austin State University, dated May 1, 1972, Universities of the State of Texas State Ad Valorem Tax Bonds, Series 1972-A - Stephen F. Austin State University, dated July 1, 1972 and Board of Regents of Stephen F. Austin State University State Ad Valorem Tax Bonds, Series 1974, dated March 1, 1974, heretofore issued against such tax resources shall have been paid in full or until money has been set aside in the interest and sinking fund therefor sufficient to pay the principal thereof and interest thereon to maturity.  The levy of such tax and the pledge thereof will remain effective so long as this Bond (or any of the bonds of this series of which this is one)* is outstanding and unpaid. * Applicable to Bonds in denominations of 55,000.00.  15 Each successive holder of this Bond, and each successive holder of cich of the coupons hereto attached, is conclusively presumed to forego ;iikI fen ounce In1; c(j u i t i c:.  in (;i vo r of* '.ulr; c.< \ new t ho I < c r*s (Or v:t I uc wi I iioiil notice, and to aj>rec that this Bond and each of the coupons hereto at tached, may be negotiated by delivery by any person having possession thereof, howsoever such possession may have been acquired, and that any holder who shall have taken this Bond or any of the coupons from any person for value without notice, thereby has acquired absolute title there to, free from any defenses enforceable against any prior holder and free from all equities and claims of ownership of any such prior holder.  The Board and the Bank of Payment shall not be affected by any notice to the contrary.  IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions and things required to be done precedent to and in the issuance of this Bond (and the series of which it is one)* have been properly done, have happened and been performed in regular and due time, form and manner as required by the Constitution and laws of the State of Texas, and the pro ceedings hereinabove mentioned, and that this Bond (and the series of which it is one)* does not exceed any constitutional or statutory limi tations and that provision has been made for the payment of the principal of and interest on this Bond (and the series of which it is one)* by ir revocably pledging the allocated proceeds of the continuing ad valorem tax hereinabove mentioned.  IN WITNESS WHEREOF, the Board of Regents of Stenhen F. Austin State University has caused the official seal of said Board to be im pressed, printed or lithographed hereon and has caused this Bond and the 'Applicable to Bonds in denominations of $5,000.00.  27-15 16 interest coupons attached hereto to be executed by the imprinted fac simile signatures of the Chairman of the Board and the Secretary of the Board.  BOARD OF REGENTS OF STEPHEN F. AUSTIN STATE UNIVERSITY By Chairman ATTEST: Secretary ^Applicable only to bonds of the denomination of $5,000.  FORM OF COUPON NO.  On the 1st day of September, 1978, the Board of Regents of Stephen F. Austin State University promises to pay to bearer, without exchange or collection charges to the bearer from the proceeds of the ad valorem tax described in the Bond to which this coupon is attached the SUIT1 of ($ ) in lawful money of the United States of America at First National Bank in Dallas, Dallas, Texas, being the interest then due on its Universities of the State of Texas State Sub ordinate Ad Valorem Tax Bonds, Series 1975 - Stephen F. Austin State Uni versity.  No. ,  for the period from , 19 to , 19 .  This coupon is payable at the option of the Board, prior to its due date, Secretary Chairman 27-16 17 FORM OF BOND REGISTERED AS TO PRINCIPAL AND INTEREST NO.  UNITED STATES OF AMERICA STATE OF TEXAS UNIVERSITIES OF THE STATE OF TEXAS STATE SUBORDINATE AD VALOREM TAX BOND SERIES 1975 STEPHEN F. AUSTIN STATE UNIVERSITY For value received the Board of Regents of Stephen F. Austin State University, an agency of the State of Texas, and as authorized by the Constitution of the State of Texas, hereby acknowledges itself indebted to and promises to pay out of the proceeds of the ad valorem tax herein described to , or registered assigns at the First National Bank in Dallas, Dallas, Texas, on the 1st day of September, 1978, the principal sum of THOUSAND DOLLARS and to pay, but solely from such source, to the registered owner hereof by check or draft mailed to the registered owner at his address as it appears on the bond registration books interest thereon from the date hereof until maturity at the rate of per cent ( %) per annum, payable September 1, 1978.  As stated in the resolution authorizing this Bond, accrued interest may be paid prior to September 1, 1978, at the option of the University for six month periods of accrual.  Both principal and interest shall be payable in lawful money of the United States of America without exchange or collection charges to the owner thereof.  This Bond is (one of a series of bonds (hereinafter sometimes 27-17 18 cm lied the "Bonds11) of like tenor and effect except as to number and interest rate, numbered from (1) through ( ))*, issued for the purpose of acquiring, constructing and initially equipping buildings and other permanent improvements at Stephen F. Austin State University, Nacogdoches, Texas, in accordance with the provisions of Section 17, of Article VII, as amended, of the Constitution of Texas, and pursuant to the resolution authorizing the issuance of this Bond (and the series of Bonds of which this is one)*, adopted by the Board of Regents of Stephen F. Austin State University, duly of record in the minutes of said Board (herein called the "Resolution").  The date of this Bond in conformity with the Resolution is March 1, 1975.  This Bond (and this Series of which it is one)* is secured by a pledge of that part allocated to Stephen F. Austin State University of the proceeds of a continuing tax on all the taxable property in the State levied by Section 17 of Article VII of the Constitution, as amended on November 2, 1965, accumulated and held in the State Treasury, provided no payment of the principal of or the interest on this Bond (or the series of which this is one)* shall be made until all of the principal of and interest on the Universities of the State of Texas State Ad Valoren Tax Bonds, Series 1972 - Stephen F. Austin State University, dated May 1, 1972, Universities of the State of Texas State Ad Valorem Tax Bonds, Series 1972-A - Stephen F. Austin State University, dated July 1, 1972 and Board of Regents of Stephen F. Austin State University State Ad Valorem Tax Bonds, Series 1974, dated March 1, 1974, heretofore issued against such tax resources shall have been paid in full or until money has been set aside in the interest and sinking fund therefore sufficient 27-18 19 to pay the principal thereof and interest thereon to maturity.  The levy of such tax and the pledge thereof will remain effective so long as this Bond (or any of the series of which this is one)* is outstanding and unpaid.  This Bond shall be transferable only on the books of the Board to be kept for that purpose at the Bank of Payment upon surrender hereof by the registered owner in person or by duly authorized attorney upon presentation of a written instrument of transfer duly executed.  Such transfers shall be without expense to the owner hereof.  IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions and things required to be done precedent to and in the issuance of this Bond (and the series of which it is one)* have been properly done, have happened and been performed in regular and due time, form and manner as required by the Constitution and laws of the State of Texas, and the proceedings hereinabove mentioned, and that this Bond (and the series of which it is one)* does not exceed any constitutional or statutory limitations and that provision has been made for the payment of the princi pal of and interest on this Bond (and the series of which it is one)* by irrevocably pledging the allocated proceeds of the continuing ad valorem tax hereinabove mentioned.  IN WITNESS WHEREOF, the Board of Regents of Stephen F. Austin State University has caused the official seal of said Board to be impres sed, printed or lithographed hereon and has caused this Bond to be exe cuted by the (imprinted facsimile signatures of)* the Chairman of the Board and the Secretary of the Board. * Applicable only to bonds of the denomination of $5,000.  27-19 20 BOARD OF REGENTS O!;  STEPHEN l;.  AUSTIN STATE UNIVERSITY By Chairman ATTEST: Secretary 8.  Comptroller's Certificate - That the form of Comptroller's Certificate which shall be printed on the back of each of the Bonds shall be substantially as follows: OFFICE OF COMPTROLLER I I STATE OF TEXAS I REGISTER NO.  I HEREBY CERTIFY that there is on file and of record in ny office a certificate of the Attorney General of the State of Texas to the effect that this Bond has been examined by him as required by Section 17 of Article VII of the Constitution, as amended, and that he finds that it has been issued in conformity with the Constitution and laws of the State of Texas and that it is a valid and binding obligation payable from the proceeds of the State ad valorem tax pledged to its payment by and in the Resolution of said Board of Regents of Stephen F. Austin State University, an educational institution belonging to the State of Texas duly constituted under authority of law authorizing same and said Bond has this day been registered by me.  WITNESS MY HAND and seal of office at Austin, Texas.  Comptroller of Public Accounts of the State of Texas (SEAL) 27-20 21 9.  Definitions - That throughout this Resolution, in the bond form prescribed herein and in the Bonds authorized hereby, the fol lowing terms and expressions as used herein shall have the meanings set forth, to-wit: The term "Bank of Payment" shall refer to the First National Bank in Dallas; The term "Board" shall refer to the Board of Regents of Stephen F. Austin State University, Nacogdoches, Texas; The term "Bonds" shall refer to the bonds authorized to be issued under the provisions of this resolution whether in denominations of $5,000 or as a single bond; The term "Comptroller" shall refer to the Comptroller of Public Accounts of the State of Texas; The term "Constitutional Provision" shall mean Article VII, Section 17 of the Constitution of Texas as amended November 2, 1965; The term "Eligible Institutions" shall mean the seventeen state supported institutions of higher learning designated as those insti tutions to receive allocated proceeds from the tax levied by the Consti tutional Provision; The term "Interest and Sinking Fund" shall mean the fund established for the University in the State Treasury and further described in Section 11 hereof; The term "Outstanding Bonds" shall mean collectivly the Series 1972 Bonds, the Series 1972A Bonds and The Series 1974 Bonds.  The term "Presiding Officer" shall mean the officer designated by law to preside over the Board; The term "Resolution" shall mean this resolution authorizing 27-21 the Bonds; 22 The term "Series 1972 Bonds" shall refer to Universities of the State of Texas State Ad Valorem Tax Bonds, Series 1972 - Stephen P. Austin State University, dated May 1, 1972; The term "Series 1972-A Bonds" shall refer to Universities of the State of Texas State Ad Valorem Tax Bonds, Series 1972-A - Stephen F. Austin State University, dated July 1, 1972; The term "Series 1974 Bonds" shall refer to Board of Regents of Stephen F. Austin State University State Ad Valorem Tax Bonds, Series 1974, dated March 1, 1974; The term "University" shall refer to Stephen F. Austin State University, Nacogdoches, Texas.  10.  Findings, Pledge o£ Payment, Additional Bonds - That of ficial recognition is hereby given to these facts: (a) That Section 17 of Article VII of the Constitution, as amended in 1965 (the "Constitutional Provision") has levied a continuing ad valorem tax on all taxable property in the State of Texas, at the rate of Ten (10<<roceeds of the Bonds at any time throughout the term of this issue of Bonds which, if such use had been reasonably expected on the date of delivery of the Bonds to and payment for the Bonds by the purchasers, would have caused 27-26 27 the Bonds to be artitrage bonds within the meaning of Section 103(d) of the Internal Revenue Code of 1954, as amended, or any regulations or rulings pertaining thereto; and by this covenant the Board is obligated to comply with the requirements of the aforesaid Section 103(d) and all applicable and pertinent Department of the Treasury regulations relating to arbitrage bonds.  The Board further covenants that the proceeds of the Bonds will not otherwise be used directly or indirectly so as to cause all or any part of the Bonds to be or become arbitrage bonds within the meaning of the aforesaid Section 103 (d), or any regulations or rulings pertaining thereto.  15.  Confirmation o_f Sale of Bonds - That the sale of the Bonds to First National Bank in Dallas, Dallas, Texas, at a price of par and accrued interest to date of delivery, plus a premium of $ 27.44 be and the same is hereby confirmed.  16.  Custody and Delivery of Bonds - That the Presiding Officer or his designee is hereby authorized to have control of the Bonds and all necessary records and proceedings pertaining to the Bonds pending their delivery and the investigation, examination and approval by the Attorney General of the State of Texas, and their registration by the Comptroller of Public Accounts of the State of Texas.  Upon registration of the Bonds, said Comptroller of Public Accounts (or a deputy designated in writing to act for said Comptroller) shall manually sign the Comptroller's Registration Certificate printed and endorsed on each of the Bonds, and the seal of said Comptroller shall be impressed, or placed in facsimile, on each of the Bonds.  27-27 28 74-129 Upon motion of Regent Perkins, seconded by Regent Wright, with all members voting aye, it was ordered that the contract for the completion of the Observatory with T. G. Evans Construction Company for $35,450.00 be approved and the Chairman of the Board be authorized to sign the contract.  27-28 CONTRACT THE STATE OF TEXAS KNOW ALL MEN BY THESE PRESENTS COUNTY OF NACOGDOCHES THIS AGREEMENT, made this the Seventh day of February, 1975 by and between the BOARD OF REGENTS , STEPHEN F , AUSTIN STATE UNIVERSITY , NACOGDOCHES, TEXAS, acting herein through its President, hereinafter called "Owner" and T. G. EVANS CONSTRUCTION COMPANY, NACOGDOCHES, TEXAS, hereinafter called "Contractor11 .  WITNESSETH, that the Contractor and the Owner for the con siderations hereinafter named agree as follows: 1.  The Contractor agrees to provide all of the materials, furnish the labor, and do all things necessary to complete fully all of the work-shown on the Drawings and described in the Specifications entitled "OBSERVATORY - DOME AND SUPPORT CYLINDERS, STEPHEN F, AUSTIN STATE UNIVERSITY, NACOGDOCHES, TEXAS" prepared by Kent-Marsellos-Scott, Architects-Engineers, Lufkin, Texas acting as and in these Contract Documents entitled the Architect; and shall do everything required by this Agreement, the "General Conditions" of the Contract, the Drawings and the Specifications.  2.  The "General Conditions" of the Contract, the "Supplementary Conditions", the Drawings and the Specifications, together with this Agreement, 27-29 form the Contract, and they are as fully a part of the Contract as if hereto attached or herein repeated .  The following is an enum eration of the Specifications and Drawings: Drawings and Specifications entitled "OBSERVATORY - DOME AND SUPPORT CYLINDERS, STEPHEN F. AUSTIN STATE UNIVERSITY, NACOGDOCHES, TEXAS11 sheet and section numbers as listed in Paragraph 1.1 of "Supplementary Conditions"; and the following: Addendum No.  1 dated 1/10/74, Page 1 Addendum No.  2 dated 1/14/74, Page 1 Addendum No.  3 dated 1/75, Pages 1-3 This contract is to consist of the work covered by PROPOSAL NO.  2 - OBSERVATORY DOME AND SUPPORT CYLINDERS.  1.  This Contract is to cover the General Contract Work complete.  The said Drawings, and each and all of said Specifications and "General Conditions" are made a part of this Agreement for all intents and purposes; provided that if anything in the said "General Conditions" of the Contract is in conflict with this Agreement; this Agreement shall control and govern.  -2- 27-30 2.  The work called for and included in this Agreement is to be done under the direction of the Architect above named and his determination of the true meaning and proper construction of the Specifications shall be considered as final.  3.  The work to be performed under this Contract shall be commenced on or before a date to be specified in a written "Work Order" , and shall be fully completed within 150 consecutive calendar days thereafter.  The Contractor further agrees to pay as liquidated damages the sum of $25.00 per day for each consecutive calendar day thereafter the work remains unfinished as specified in Paragraph 1.44 of "Supplementary Conditions" and in Proposal.  4.  The Owner shall pay the Contractor for the performance of the Contract, subject to additions and deductions provided herein, THIRTY FIVE THOUSAND FOUR HUNDRED FIFTY AND NO/100 ($35,450 .00; out of Departmental Operating Account - Physics Department, and other funds available to the Owner for expenditure for the use and benefit of Stephen F .  Austin State University.  The basis of the above contract price is as follows: $ 33,950.00 1,500.00 $35,450.00 The Owner shall make payments on account of the Contract as provided therein as follows: On or about the fifteenth of each month ninety percent (90%) of the value, based on the Contract Price of labor and materials incorporated in the work and of materials suitably stored at the site thereof up to the first day of that month, as estimated by the Architect, less the aggregate of previous payments; and upon substantial completion of the entire work, a sum sufficient to increase the total payments to ninety percent (90%) of the Contract Price provided satisfactory evidence is furnished that all payrolls, material bills and other indebtedness connected with the work have been paid.  The Owner at any time after 50% of the work has been completed, if it finds that satis factory progress is being made, may make any of the remaining progress payments in full.  Final payment shall be due thirty days after substantial completion of the work provided the work be then fully completed and the Contract fully performed.  Upon receipt of written notice that the work is ready for final inspection and accept ance, the Architect shall promptly make such inspection, and when he finds the work acceptable under the Contract and the Contract fully performed he shall promptly issue a Final Certificate, over his own signature, stating that the work provided for in this Contract -4- 27-32 has been completed and is acceptable to him under the terms and conditions thereof, and that the entire balance found to be due the Contractor, and noted in the Final Certificate is due and payable.  Before issuance of Final Certificate the Contractor shall submit evidence satisfactory to the Architect that all payrolls, material bills and other indebtedness connected with the work have been paid .  5.  The Contractor shall pay premium for and furnish Performance Bond and Payment Bond in amount of 100% of Contract Price; on form to be furnished by Architect, with sureties acceptable to the Owner, conditioned: 1.  That Contractor shall faithfully perform his Contract and fully indemnify and save Owner harmless from all costs and damages which may be suffered by reason of failure to do so, and fully reimburse and re pay Owner all outlay and expense which Ov/ner may incur in making good any default.  2 .  That Contractor shall pay all persons who have con tracts directly with Contractor for labor and materials save which persons shall have a direct action against Contractor and the surety on his bond, subject to Owner's priority.  -5- 27-33 34 Surety Companies shall be on approved list of U .  S .  Treasury Department of "Companies holding Certificates of Authority from the Secretary of the Treasury under the Act of Congress Approved July 30, 1957, as Acceptable Sureties on Federal Bonds" and within the Underwriting limitations listed therein for any single risk.  Bond shall comply with requirements of all state laws; including those of Article 5160 Revised Civil Statutes of Texas, 1925, as amended by House Bill 344, Acts 56th legislature, Regular Session, 1959, effective April 27, 1959.  6.  The Contractor shall effect, pay for and maintain during the life of this Contract insurance acceptable to the Owner, conforming to the following schedule: a) Compensation and Employer's Liability Insurance: As required by the laws of the State of Texas; Employer's Liability Insurance, $500,000.00.  b) Comprehensive General Liability Insurance and Auto-mobile Liability Insurance: In an amount not less than $500,000.00 for injuries, including personal injury or accidental death -6- 27-34 to any one person, and in an amount not less than $500,000.00 on account of one occurrence; Property Damage insurance in an amount not less than $300, 000.00 .  c) Include Broad Form Property Damage Insurance.  Remove "XCU" Exclusions (Explosion, collapse, underground property damage) .  Include damage to underground wiring, conduits, piping .  d) Contractual Liability Insurance: As applicable to the Contractor's obligations under Paragraph 4.18 of "General Conditions11 .  The Contractor shall obtain at his expense Owner's Protective Liability Insurance Policy naming the Owner and the Architect/Engineer as insured with the following limits: 1.  Bodily Injury $500,000.00 (each person) $500,000.00 (each occurrence) 2 .  Property Damage $300,000.00 (each occurrence) e) Completed Operations: Continue coverage in force for one year after completion of work .  -7- 27-35 56 f) Before commencement of operations hereunder, Con tractor shall furnish to the Architect, photostatic copies of the above mentioned insurance policies, together with a certificate from the insurance carrier that the insurance will not be cancelled or permitted to lapse until fifteen (15) days written notice of said impending cancellation has been given to the Owner.  7 .  Builder's Risk Insurance: Delete the first sentence of Paragraph 11.3 of General Conditions.  The work is entirely at the Contractor's risk until it is accepted by the Owner, and the Contractor will be held liable for it's safety to the amount of money paid by the Owner on account of same.  The Contractor shall take out Builder's Risk Insurance on 100% of the insurable portion of the project for the benefit of the Owner, the Contractor and all Subcontractors as their interests may appear.  If the Owner finds it necessary to occupy or use a portion or portions of the work prior to Substantial Completion,such occupancy shall not commence prior to a time mutually agreed to by the Owner and Con tractor and concurred with by the insurance company or companies .  This insurance shall not be cancelled or lapsed on account of such partial occupancy .  -8- 27-36 37 The Contractor shall complete the several portions and the whole of the work called for under this Agreement and shall deliver said improvements and premises, upon completion, to the Owner, free and clear of all liens and claims for labor furnished or materials used and other indebtedness whatsoever .  For purposes of complying with the State of Texas Sales Tax, the following is a division between labor and materials: Labor j> *{S*O. o o Materials 3 2 Total $ 35,450.00 -9- 27-37 38 IN WITNESS WHEREOF, the parties of these presents have ex ecuted this Contract in four (4) counterparts, each of which shall be deemed an original m the year and day first above mentioned.  SEAL BOARD OF REGENTS STEPHEN F .  AUSTIN STATE UNIVERSITY SEAL T. G. EVANS CONSTRUCTION COMPANY NACOGDOCHES, TEXAS Address READ AND EXAMINED: Secretary Board of Regents, Stephen F .  Austin State University (1) Corporation name of Owner (2) Title of authorized official (3) Strike out inapplicable terms .  Secretary of the Owner should attest.  If Contractor is corporation, Secretary should attest.  Give proper title of each person executing Contract.  27-38 39 .PERFORMANCE BOND (To be used in Texas as required by Chapter 93 of the Regular Session of the 56th Legislature of Texas) THE STATE OF TEXAS COUNTY OF NACOGDOCHES KNOW ALL MEN BY THESE PRESENTS: That we (1) T. G. EVANS COMPANY ___ of (2) Nacogdoches, Texas hereinafter called Principal and (3) TRINITY UNIVERSAL INSURANCE COMPANY of Dallas _State of Texas hereinafter called the Surety, are held and firmly bound into (4) BOARD OF REGENTS, STEPHEN F. AUSTIN STATE UNIVERSITY hereinafter call Owner, in the penal sum of Thirty Five Thousand Four Hundred Fifty and No/100 ----- ___.  DOLLARS ($ 35,450.00 +)> in lawful money of the United States, to be paid in (5) Nacogdoches County, Texas _, for the payment of which sum well and truly to be made, we bind ourselves, our heirs, executors, administrators and successors, jointly and severally, firmly by these presents.  THE CONDITION OF THIS OBLIGATION is such that \7hereas, the Principal entered into a certain Contract with (6) BOARD OF REGENTS, STEPHEN F. AUSTIN STATE UNIVERSITY '" — 9 the Owner, dated the 7th day of February > a. D., *9 7i> , a copy of which is attached hereto and made a part hereof for the construction of: Observatory - Dome and Support Cylinders, Stephen F. Austin State University, Nacogdoches, Texas, 27-39 40 - 2 - (Herein called the "Work").  NOW, THEREFORE, if the Principal shall well, truly and faithfully perform the work in accordance with the Plans, Specifications and Contract Documents during the original term thereof, and any extensions thereof which may be granted by the Owner, with or without notice to the Surety, and, if he shall satis fy all claims and demands incurred under such Contract, and shall fully indemnify and save harmless the Owner from all costs and damages which it may suffer by reason of failure to do so, and shall reimburse and repay the Owner all outlay and expense which the Owner may incur in making good any default, then this obli gation shall be void; otherwise to remain in full force and effect.  NOW, THEREFORE, if the Principal shall repair any and all defects in said work occasioned by and resulting from de fects in materials furnished by, or workmanship of the Principal in performing, the work covered by said Contract, occurring within a period of twelve (12) months from the date of the Contract Com pletion Certificate, then this obligation shall be null and void, otherwise to remain in full force and effect.  PROVIDED FURTHER, that if any legal action be filed upon this bond venue shall lie in Nacogdoches County, State of Texas and that the said Surety, for value received hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the Contract or to the work to be performed thereunder or the Specifications accompanying the same shall in any wise affect its obligation of this bond, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the Contract or to the work or to the Specifications.  PROVIDED, HOWEVER, that this bond is executed pursuant to the provisions of Article 5160 of the Revised Civil Statutes of Texas as amended by Acts of the 56th Legislature, 1959, and all liabilities on this bond shall be determined in accordance with the provisions of said Article to the same extent as if it were copied at length.  27-40 41 -3- IN WITNESS WHEREOF, this instrument is executed in 4__ counterparts, each one of which shall be deemed an original, this the 7th ATTEST: day of February A.D., 19 75.  T. 6.  EVANS COMPANY Principal (Principal) Secretary SEAL Witness as to Principal^ Owner Tyler, Texas 75701 (Address) ATTEST: (Surety) Secretary TRTNTTY 11NTVFRSAI TNSllRANf. F COMPANY Surety BY Attorney-in-Fact Witness as to Surety' \ Tyler, Texas 75701 Address NOTE: Date of Bond must not be prior to date of Contract. ( 1) Correct name of Contractor (2) A Corporation, A Partnership or an individual, as case may be. ( 3) Correct name of Surety (4) Correct name of Owner (5) County of Parish and State (6) Owner (7) If Contractor is Partnership, all partners should execute bond.  27-41 PAYMENT BOND 42 (To be used in Texas as required by Jhapter 93 of the Regular Session of the 56th Legislature of Texas) THE STATE CF TEXAS COUNTY OF NA3CC.DCCI-IES KNCW ALL MEN 3Y THESE FRESENTS: That we (1) .  T. G. EVANS COMPANY ai(2) individual of Nacogdoches, Texas hereinafter called Principal and (3) TRINITY UNIVERSAL INSURANCE CO, of Dallas , state of Texas hereinafter called the Surety, are held and firmly bound unto (4) LCARD CF REGENTS, STEPHEN F. AUSTIN STATE UNIVERSITY hereinafter called Owner, unto all persons, firms, and corpora tions who may furnish materials for, or perform labor upon the building or improvements hereinafter referred to in the penal sum of Thirty Five Thousand Four Hundred Fifty and No/100 DOLLARS ($ 35,450.00 , in lawful money of the United States, to be paid in (5) NACQGDOCHES COUNTY, TEXAS, for the payment of which sum well and truly to be made, we bind ourselves, our heirs, executors, administrators and successors, jointly and severally, firmly by these presents.  THE CONDITION OF THIS OBLIGATION is such that Whereas, the Principal entered into a certain contract with (6) BOARD OF REGENTS, STEPHEN F. AUSTIN STATE UNIVERSITY , the Owner, 27-42 -2- datcd the Zth clay of February , A. D., 19 75, a copy of which is hereto attached and made a part hereof for the construction of: Observatory - Dome and Support Cylinders, Stephen F. Austin State University, Nacogdoches, Texas.  NOW THEREFORE, the condition of this obligation is such that, if the Principal shall promptly make payment to all claimants as defined in Article 5160 Prevised Civil Statutes of Texas, 1925, as amended by House Bill 344, Acts 56th Legislature, Regular Session, 1959, effective April 27, 1959, supplying labor and materials in the prosecution of the work provided for in said Contract, then this obligation shall be null and void; otherwise, it shall remain in full force and effect.  This bond is made and entered into solely for the pro tection of all claimants supplying labor and materials in the pro secution of the work provided for in said Contract,- and all such claimants shall have a direct right of action under the bond as provide in Article 5160, .Revised Civil Statutes, 1925, as amended by House Bill 344, Acts 56th Legislature, Regular Session, 1959.  PROVIDED FURTHER, that if any legal action be filed upon this bond, venue shall lie in Maco^doches County, State of Texas, and that the said Surety, for value received hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the Contract or to the work to be per formed thereunder or the Specifications accompanying the same shall in any wise affect its obligation on this bond, and it does hereby waive notice of any change, extension of time, alteration or addition to the terms of the Contract or to the work or to the Specifications.  PROVIDED FURTHER, that no final settlement between the Owner and the Contractor shall abridge the ricrht of any beneficiary hereunder, whose claim may be unsatisfied.  27-43 44 -3- IN WITNESS WHEREOF, this instrument is executed in i__.  counterparts, each one of which shall be deemed an original, this I. he 7th ATTEST: day of February T. G. EVANS COMPANY Witness as to Principal' A.D., 1975 • (Principal) Secretary Tyler, Texas 75701 (Address) ATTEST: TRTNTTY "MTVr^"' TM9linAHCC CCriPAMY Surety t (Surety) Secretary Witness as to Surety Tyler, Texas 75701 Address NOTE (1) (2) (3) (4) (5) (7) : Date of Bond must not be prior to date of Contract.  Correct name of Contractor A Corporation, A Partnership or an individual, as case may be.  Correct name of Surety Correct name of Owner County of Parish and State S'contractor is Partnership, all partners should execute bond.  27-44 45 74-130 Upon motion of Regent Wright, seconded by Regent flolden, with all members voting aye, it was ordered that the University be authorized to appropriate the necessary funding from available funds to cover flood and storm damage experienced February 1 and to apply for emergency ap propriations as may be made available, either in the current fiscal year or the ensuing legislative biennium.  Meeting adjourned at 12:00 noon 27-45