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ORDINANCE NUMBER,-&c
<br /> AN ORDINANCE AUTHORIZING THE ISSUANCE AND SALE OF
<br /> REVENUE BONDS (MILLIKIN UNIVERSITY), SERIES 2026A OF THE
<br /> CITY OF DECATUR,MACON COUNTY,ILLINOIS,IN AN AGGREGATE
<br /> PRINCIPAL AMOUNT NOT TO EXCEED $18,000,000; AUTHORIZING
<br /> THE EXECUTION AND DELIVERY OF THE LOAN AGREEMENT, THE
<br /> TRUST INDENTURE, THE PLACEMENT AGREEMENT AND RELATED
<br /> DOCUMENTS;AND AUTHORIZING CERTAIN RELATED MATTERS.
<br /> WHEREAS, the City of Decatur, Macon County, Illinois (the "City"), has a population of
<br /> more than 25,000 and, by reason of being a home rule unit pursuant to Section 6 of Article VII of
<br /> the 1970 Constitution of the State of Illinois, may exercise any power or perform any function
<br /> pertaining to its government and affairs; and
<br /> WHEREAS, the City, pursuant to its powers as a home rule unit, is authorized and
<br /> empowered to issue its revenue bonds to finance and refinance the costs of acquiring,constructing,
<br /> renovating and equipping educational facilities for private, nonprofit institutions of higher
<br /> education located within the City in order to enhance the general health and welfare of the
<br /> residents of the City and the surrounding areas; and
<br /> WHEREAS, it is the intention of the City to issue its revenue bonds and lend the proceeds
<br /> thereof to Millikin University, an Illinois not for profit corporation (the "University") in order to
<br /> (i)refund all or a portion of a taxable loan provided to the University in 2024 by Raymond James,
<br /> Inc.,the proceeds of which were used to retire the outstanding County of Macon, Illinois Revenue
<br /> Bonds, Millikin University, Series 2014, (ii) refund all or a portion of a taxable loan provided to
<br /> the University in 2024 by Busey Bank, the proceeds of which were used to retire the outstanding
<br /> County of Macon, Illinois Revenue Bonds, Millikin University, Series 2010, (iii) finance or
<br /> reimburse all or a portion of the costs of acquiring, constructing, renovating, remodeling,
<br /> expanding, rehabilitating, furnishing and equipping the educational facilities owned by the
<br /> University, all located on the Borrower's Decatur, Illinois, (iv) fund a portion of the interest
<br /> accruing on the Bonds,and(v) pay certain costs relating to the issuance of the Bonds(collectively,
<br /> the "Financing Purposes"); and
<br /> WHEREAS, pursuant to the Constitution and the laws of the State of Illinois, the City is
<br /> authorized and empowered, and the City has determined, to issue its revenue bonds and to lend the
<br /> proceeds thereof to the University in order to accomplish the Financing Purposes; and
<br /> WHEREAS,pursuant to the Constitution and the laws of the State of Illinois,the City is now
<br /> prepared to issue and sell its Revenue Bonds (Millikin University), Series 2026A (the "Bonds"),
<br /> in an aggregate principal amount not to exceed $18,000,000 to the extent payable from Bond
<br /> proceeds or income from the temporary investment thereof,to be payable solely from the revenues
<br /> and receipts and other amounts received by the City pursuant to the Loan Agreement (as
<br /> hereinafter defined), the Promissory Note of the University (the "Note") created thereunder, and
<br /> the other sources identified in the Indenture; and
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