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2019-46 Ordinance Providing for the Issuance of not to Exceed $9,300,000 General Obligation Bonds, Series 2019 of the City for One or More of the Following Purposes: Refunding Certain Outstanding Bonds of the City, Improving the Decatur Public Library
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2019-46 Ordinance Providing for the Issuance of not to Exceed $9,300,000 General Obligation Bonds, Series 2019 of the City for One or More of the Following Purposes: Refunding Certain Outstanding Bonds of the City, Improving the Decatur Public Library
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Last modified
1/13/2020 11:12:38 AM
Creation date
6/18/2019 7:08:15 PM
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Resolution/Ordinance
Res Ord Num
2019-46
Res Ord Title
2019-46 Ordinance Providing for the Issuance of not to Exceed $9,300,000 General Obligation Bonds, Series 2019 of the City for One or More of the Following Purposes: Refunding Certain Outstanding Bonds of the City,
Department
Finance
Approved Date
6/17/2019
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(b) as to the Bond Registrar, to maintain a list of Bondholders as set forth herein <br /> and to furnish such list to the City upon request,but otherwise to keep such list confidential <br /> to the extent permitted by law; <br /> (c) as to the Bond Registrar, to give notice of redemption of Bonds as provided <br /> herein; <br /> (d) as to the Bond Registrar, to cancel and/or destroy Bonds which have been <br /> paid at maturity or submitted for exchange or transfer; <br /> (e) as to the Bond Registrar,to furnish the City at least annually a certificate with <br /> respect to Bonds cancelled and/or destroyed; and <br /> (� to furnish the City at least annually an audit confirmation of Bonds paid, <br /> Bonds outstanding and payments made with respect to interest on the Bonds. <br /> The City Clerk is hereby directed to file a certified copy of this Ordinance with the Bond <br /> Registrar and the Paying Agent. <br /> Section 21. Taxes Previously Levied. The taxes previously levied to pay principal of and <br /> interest on the Refunded Bonds, to the extent such principal and interest is provided for from the <br /> proceeds of the Bonds or from the Escrow Account under the Escrow Agreement as hereinabove <br /> described, shall be abated. The filing of a certificate of abatement with the County Clerk shall <br /> constitute authority and direction for the County Clerk to make such abatement. <br /> All proceeds received or to be received from any such taxes, including the proceeds <br /> received or to be received from the taxes levied for the year 2018 for such purpose, shall be used <br /> to pay the principal of and interest on the Refunded Bonds and to the extent that such proceeds are <br /> not needed for such purpose because of the establishment of the Escrow Account under the Escrow <br /> Agreement,the same shall be deposited into the Bond Fund and used to pay principal and interest <br /> on the Bonds in accordance with all of the provisions of this Ordinance. <br /> -31- <br />
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