Laserfiche WebLink
EXHIBIT A <br /> FORM OF ESCROW LETTER AGREEMENT <br /> 92024 <br /> Re: City of Decatur,Macon County, Illinois <br /> $ General Obligation Bonds, Series 2024 <br /> Ladies and Gentlemen: <br /> The City of Decatur, Macon County, Illinois (the "City"),by an ordinance adopted by the <br /> Council of the City on the 15th day of April, 2024 (as supplemented by a notification of sale of <br /> bonds dated , 2024, the "Bond Ordinance"), has authorized the issue and delivery of <br /> $ General Obligation Bonds, Series 2024, dated , 2024 (the "Bonds"). <br /> The City has authorized by the Bond Ordinance that proceeds of the Bonds be used to pay and <br /> redeem on , 2024, $ of the City's outstanding and unpaid [General <br /> Obligation Bonds, Series 20 ] (the "Prior Bonds"),maturing on March 1 of the years 20_to <br /> 20_, inclusive(the "Refunded Bonds"). <br /> The City hereby deposits with you $ from the proceeds of the Bonds and <br /> $ from funds of the City on hand and lawfully available (collectively, the "Deposit") <br /> and you are hereby instructed as follows with respect thereto: <br /> 1. [Upon deposit, you are directed to hold the Deposit in an irrevocable trust <br /> fund account (the "Trust Account") for the City to the benefit of the holders of the <br /> Refunded Bonds.] [Upon deposit, you are directed to purchase U.S. Treasury Securities <br /> [State and Local Government Series Certificates of Indebtedness] in the amount of <br /> $ and maturing as described on Exhibit A hereto (the "Government <br /> Securities"). You are further instructed to fund a beginning cash escrow deposit on <br /> demand in the amount of$ . The beginning deposit and the Government <br /> Securities are to be held in an irrevocable trust fund account(the "Trust Account") for the <br /> City to the benefit of the holders of the Refunded Bonds.] <br /> 2. [You shall hold the Deposit in the Trust Account in cash for the sole and <br /> exclusive benefit of the holders of the Refunded Bonds until redemption of the Refunded <br /> Bonds on , 2024 is made.] [You shall hold the Government Securities and any <br /> interest income or profit derived therefrom and any uninvested cash in the Trust Account <br />