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AN ORDINANCE providing for the issuance of not to exceed <br /> $36,800,000 General Obligation Bonds of the City of Decatur, <br /> Macon County, Illinois, to refund certain outstanding bonds and to <br /> finance water system infrastructure improvements, authorizing the <br /> sale of said bonds to the purchaser thereof, providing for the levy <br /> and collection of a direct annual tax sufficient for the payment of the <br /> principal of and interest on said bonds, and further providing for the <br /> execution of an escrow agreement in connection with such issuance. <br /> (the "Bond Ordinance"). <br /> Council Member LA &WOr(A moved and Council Member EdCu <br /> seconded the motion that the Bond Ordinance as presented be adopted. <br /> A Council discussion of the matter followed. During the Council discussion, the Director <br /> of Finance gave a public recital of the nature of the matter,which included a reading of the title of <br /> the Bond Ordinance and statements (1)that the Bond Ordinance provides parameters for the <br /> issuance of general obligation bonds for the purpose of financing one or both of the following: <br /> (a)the refunding certain outstanding general obligation bonds for debt service savings and(b) the <br /> financing of water system infrastructure improvements, (2)that the bonds are issuable without <br /> referendum pursuant to the home rule powers of the City, (3) that the bonds will be sold to <br /> Robert W. Baird & Co. Incorporated, in a negotiated underwriting, or to a bank or financial <br /> institution or other purchaser, in a private placement, (4)that the sale of bonds will be by certain <br /> designated officials of the City, (5) that the Bond Ordinance provides for the levy of taxes to pay <br /> the bonds, (6)that the Bond Ordinance approves a form of escrow agreement to accomplish the <br /> refunding, and (7)that the Bond Ordinance provides many details for the bonds, including tax- <br /> exempt status covenants,provision for terms and form of bond, and appropriations. <br /> The Mayor directed that the roll be called for a vote upon the motion to adopt the Bond <br /> Ordinance. <br /> Upon the roll being called, the following Council Members voted AYE: <br /> r urx,4 Lr 0,1 1 n Wd5 <br /> C 'wK KiAmf- 4 Mq60r u(te WOW6 <br />