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"Pledged Taxes" means the taxes levied on the taxable property within the City to pay <br /> principal of and interest on the Bonds as made in Section 13 hereof. <br /> "Purchaser"means Robert W. Baird& Co. Incorporated,Naperville, Illinois. <br /> "Term Bonds" means Bonds subject to mandatory redemption and designated as term <br /> bonds in the Bond Notification. <br /> "Treasurer"means the Treasurer of the City. <br /> Section 2. Incorporation of Preambles. The Council hereby finds that all of the recitals <br /> contained in the preambles to this Ordinance are true, correct and complete and does incorporate <br /> them into this Ordinance by this reference. <br /> Section 3. Determination to Issue Bonds. It is necessary and desirable to undertake the <br /> Project, to pay all related costs and expenses incidental thereto, and to borrow money and issue <br /> the Bonds for such purpose. It is hereby found and determined that such borrowing of money is <br /> necessary for the welfare of the government and affairs of the City, is for a proper public purpose <br /> or purposes and is in the public interest, and is authorized pursuant to the Act; and these findings <br /> and determinations shall be deemed conclusive. <br /> Section 4. Bond Details. For the purpose of providing for such costs, there shall be <br /> issued and sold the Bonds in the principal amount of not to exceed$26,100,000. The Bonds shall <br /> each be designated "General Obligation Bond, Series 2022"; shall be dated such date (not prior <br /> to March 1, 2022, and not later than September 1, 2022) (the "Dated Date") as set forth in the <br /> Bond Notification; shall also bear the date of authentication; shall be in fully registered form; shall <br /> be in denominations of$5,000 each or authorized integral multiples thereof(but no single Bond <br /> shall represent installments of principal maturing on more than one date); and shall be numbered <br /> 1 and upward. The Bonds shall become due and payable serially or be subject to mandatory <br /> redemption(subject to option of prior redemption as hereinafter described)as shall be set forth in <br /> -4- <br />