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2022-05 Ordinance Providing for the Issuance of not to Exceed $26,100,000 General Obligation Bonds, to Finance Water and Sewer Infrastructure Improvements, to Robert Baird & Co. Incorporated
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2022-05 Ordinance Providing for the Issuance of not to Exceed $26,100,000 General Obligation Bonds, to Finance Water and Sewer Infrastructure Improvements, to Robert Baird & Co. Incorporated
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Last modified
1/24/2023 5:03:06 PM
Creation date
2/24/2022 9:29:49 AM
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Resolution/Ordinance
Res Ord Num
2022-05
Res Ord Title
2022-05 Ordinance Providing for the Issuance of not to Exceed $26,100,000 General Obligation Bonds, Series 2022, of the City of Decatur, Water and Sewer and Authorizing the Sale of said Bonds to Robert W. Baird & Co. Incorporated
Department
Finance
Approved Date
2/22/2022
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Section 6. Execution;Authentication. The Bonds shall be executed on behalf of the City <br /> by the manual or facsimile signature of the Mayor and attested by the manual or facsimile signature <br /> of the City Clerk, as they may determine, and shall have impressed or imprinted thereon the <br /> corporate seal or facsimile thereof of the City. In case any such officer whose signature shall <br /> appear on any Bond shall cease to be such officer before the delivery of such Bond,such signature <br /> shall nevertheless be valid and sufficient for all purposes,the same as if such officer had remained <br /> in office until delivery. All Bonds shall have thereon a certificate of authentication, substantially <br /> in the form hereinafter set forth, duly executed by the Bond Registrar as authenticating agent of <br /> the City and showing the date of authentication. No Bond shall be valid or obligatory for any <br /> purpose or be entitled to any security or benefit under this Ordinance unless and until such <br /> certificate of authentication shall have been duly executed by the Bond Registrar by manual <br /> signature, and such certificate of authentication upon any such Bond shall be conclusive evidence <br /> that such Bond has been authenticated and delivered under this Ordinance. The certificate of <br /> authentication on any Bond shall be deemed to have been executed by it if signed by an authorized <br /> officer of the Bond Registrar,but it shall not be necessary that the same officer sign the certificate <br /> of authentication on all of the Bonds issued hereunder. <br /> Section 7. Term Bonds, Mandatory Redemption and Covenants. The Bonds may be <br /> subject to mandatory redemption(as Term Bonds)as provided in the Bond Notification;provided, <br /> however, that in such event the amounts due as provided for under such mandatory redemption <br /> shall be the amount set forth in Section 4 hereof for the maximum amount of principal due on the <br /> Bonds in any given period. Bonds designated as Term Bonds shall be made subject to mandatory <br /> redemption by operation of the Bond Fund at a price of not to exceed par and accrued interest, <br /> without premium, on a given date of the years and in the amounts as shall be determined in the <br /> Bond Notification. <br /> -8- <br />
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