Laserfiche WebLink
1o?4- 13 <br /> EXTRACT OF MINUTES of a regular public meeting of the City <br /> Council of the City of Decatur, Macon County, Illinois, (the <br /> "City") held at the City Council Chambers, One Gary K. Anderson <br /> Plaza, Decatur, Illinois, in said City, at 5:30 p.m., on the 16th day <br /> of March, 2026. <br /> The Mayor called the meeting to order and directed the City Clerk to call the roll. <br /> Councilman David Horn recused himself from the hearing and agenda item regarding the <br /> Ordinance citing his employment with Millikin University. Councilman Horn exited the Council <br /> Chamber at 5:41 p.m. <br /> Upon the roll being called, Julie Moore Wolfe, the Mayor of the City, and the following <br /> Councilmembers answered present: Dennis Cooper, Lisa Gregory, Consuelo Cruz, Pat McDaniel <br /> and Ed Culp. <br /> (Other Business) <br /> The Mayor then announced that the next agenda item for the City Council was a request <br /> by Millikin University(the "University") that the City assist the University by issuing its revenue <br /> bonds and lending the proceeds thereof to the University in order to (i) refund all or a portion of <br /> a taxable loan provided to the University in 2024 by Raymond James, Inc., the proceeds of <br /> which were used to retire the outstanding County of Macon, Illinois Revenue Bonds, Millikin <br /> University, Series 2014, (ii)refund all or a portion of a taxable loan provided to the University in <br /> 2024 by Busey Bank, the proceeds of which were used to retire the outstanding County of <br /> Macon, Illinois Revenue Bonds, Millikin University, Series 2010, (iii) finance or reimburse all or <br /> a portion of the costs of constructing, renovating, remodeling, expanding, rehabilitating, <br /> furnishing and equipping the educational facilities owned by the University, all located on the <br /> Borrower's Decatur, Illinois campus, (iv) acquire certain student housing assets, including <br /> retirement of certain taxable debt related thereto, (v) fund a debt service reserve fund for the <br /> benefit of the Bonds (as defined herein), (vi) fund a portion of the interest accruing on the Bonds, <br /> 2026 Revenue SeriesA SeriesB Bond Ordinance Millikin conduit debt FINAL 03 09 2026(2)(2).doc <br /> 1138031 <br />