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2024-53 An Ordinance Providing for the Issuance of not to Exceed $36,800,000 General Obligation Bonds of the City of Decatur, Macon County, Illinois, to Refund Certain Outstanding Bonds and to Finance Water System Infrastructure Improvements, Authorizing
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2024-53 An Ordinance Providing for the Issuance of not to Exceed $36,800,000 General Obligation Bonds of the City of Decatur, Macon County, Illinois, to Refund Certain Outstanding Bonds and to Finance Water System Infrastructure Improvements, Authorizing
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4/19/2024 9:40:04 AM
Creation date
4/19/2024 9:39:59 AM
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Resolution/Ordinance
Res Ord Num
2024-52
Res Ord Title
2024-52 An Ordinance Providing for the Issuance of not to Exceed $36,800,000 General Obligation Bonds of the City of Decatur, Macon County,
Department
Finance
Approved Date
4/15/2024
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City, the Bond Registrar and DTC evidenced by the Representation Letter shall be terminated for <br /> any reason or(iii) the City determines that it is in the best interests of the beneficial owners of the <br /> Bonds that they be able to obtain certificated Bonds, the City shall notify DTC and DTC <br /> Participants of the availability through DTC of Bond certificates and the Bonds shall no longer be <br /> restricted to being registered in the Bond Register in the name of Cede, as nominee of DTC. At <br /> the time, the City may determine that the Bonds shall be registered in the name of and deposited <br /> with such other depository operating a global book-entry system, as may be acceptable to the City, <br /> or such depository's agent or designee, and if the City does not select such alternate global <br /> book-entry system,then the Bonds may be registered in whatever name or names registered owners <br /> of Bonds transferring or exchanging Bonds shall designate, in accordance with the provisions of <br /> Section 10 hereof. <br /> Notwithstanding any other provision of this Ordinance to the contrary,so long as any Bond <br /> is registered in the name of Cede, as nominee of DTC, all payments with respect to principal of <br /> and interest on such Bond and all notices with respect to such Bond shall be made and given, <br /> respectively, in the manner provided in the Representation Letter. <br /> 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 /> -11- <br />
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