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Ord -W(40`j3 <br /> EXTRACT OF MINUTES of a regular public meeting of the City <br /> Council of the City of Decatur,Macon County,Illinois,(the "City") <br /> held at the City Council Chambers, One Gary K. Anderson Plaza, <br /> Decatur, Illinois, in said City, at 5:30 p.m., on the 5th day of <br /> October, 2026. <br /> The Mayor called the meeting to order and directed the City Clerk to call the roll. <br /> Upon the roll being called, Julie Moore Wolfe, the Mayor of the City, and the following__ <br /> Councilmembers answered present: �d C.0 rthr115 C r (.4soa Gar-it gyp, ek VU2 <br /> oip Horn ►1(1A or hare.Wife_ <br /> The following Councilmembers were absent: <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 a <br /> taxable loan provided to the University in 2024 by Raymond James, Inc., the proceeds of which <br /> were used to retire the outstanding County of Macon, Illinois Revenue Bonds,Millikin University, <br /> Series 2014, (ii) refund all or a portion of a taxable loan provided to the University in 2024 by <br /> Busey Bank, the proceeds of which were used to retire the outstanding County of Macon, Illinois <br /> Revenue Bonds, Millikin University, Series 2010, (iii) finance or reimburse all or a portion of the <br /> costs of acquiring, constructing, renovating,remodeling, expanding, rehabilitating, furnishing and <br /> equipping the educational facilities owned by the University, all located on the Borrower's <br /> Decatur, Illinois campus, (iv) fund a portion of the interest accruing on the Bonds, and (v) pay <br /> certain costs relating to the issuance of the Bonds. The City, by reason of being a home rule unit <br /> pursuant to Section 6 of Article VII of the 1970 Constitution of the State of Illinois, has the power <br /> to issue such revenue bonds for such purposes. <br /> The City Council further discussed an ordinance authorizing the issuance of such revenue <br /> bonds for the benefit of the University and authorizing certain documents and actions in connection <br /> Ordinance.docx <br /> 1138031 <br />