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2026-35 An Ordinance Authorizing the Issuance and Sale of Revenue Bonds (Millikin University), Series 2026A of the City of Decatur, Macon County, Illinois, in an Aggregate Principal Amount not to Exceed $18,000,000; Authorizing the Execution
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2026-35 An Ordinance Authorizing the Issuance and Sale of Revenue Bonds (Millikin University), Series 2026A of the City of Decatur, Macon County, Illinois, in an Aggregate Principal Amount not to Exceed $18,000,000; Authorizing the Execution
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10/26/2026 2:45:40 PM
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10/26/2026 2:45:29 PM
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Resolution/Ordinance
Res Ord Num
2026-35
Res Ord Title
2026-35 An Ordinance Authorizing the Issuance and Sale of Revenue Bonds (Millikin University), Series 2026A of the City of Decatur, Macon County, Illinois, in an Aggregate Principal Amount not to Exceed $18,000,000; Authorizing the Execution
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City Manager
Approved Date
10/5/2026
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(d) The Borrower further covenants and agrees that it will not take any action,permit any <br /> action to be taken or fail to take any action, including without limitation any action with respect to <br /> the investment of the proceeds of any Bonds, with respect to any other moneys or securities <br /> deposited with the Trustee pursuant to the Indenture, with respect to the payments derived from <br /> the Series 2026A Note or this Loan Agreement, with respect to the purchase of other City <br /> obligations or with respect to any actions or payments required under the Tax Agreement, or with <br /> respect to any other amounts regardless of the source where held which might cause the <br /> Series 2026A Bonds to be "arbitrage bonds" within the meaning of such term as used in <br /> Section 148 of the Code. <br /> The Borrower further agrees to take all actions required by the Tax Agreement,relating to <br /> the Series 2026A Bonds. <br /> Section 2.16. Other Amounts Payable by the Borrower. The Borrower will also pay the <br /> following within 30 days after receipt of an invoice therefor: <br /> (a) The reasonable fees and expenses of the City in connection with and as <br /> provided in this Loan Agreement and the Series 2026A Bonds,with such fees and expenses <br /> to be paid directly to the City or as otherwise directed in writing by the City; <br /> (b) (i) The fees and expenses of the Trustee and all other fiduciaries and agents <br /> serving under the Indenture (including any expenses in connection with any redemption of <br /> the Series 2026A Bonds), and (ii) all fees and expenses, including attorneys' fees, of the <br /> Trustee for any extraordinary services rendered by it under the Indenture. All such fees <br /> and expenses are to be paid directly to the Trustee or other fiduciary or agent for its own <br /> account as and when such fees and expenses become due and payable; and <br /> (c) All other reasonable fees and expenses incurred in connection with the <br /> issuance of the Series 2026A Bonds. <br /> Section 2.17. Credits on the Series 2026A Note. Notwithstanding any provision contained <br /> in this Loan Agreement or in the Indenture to the contrary, in addition to any credits on the Series <br /> 2026A Note resulting from the payment or prepayment thereof: <br /> (a) any moneys deposited by the Trustee in the Revenue Account of the Bond <br /> Fund and applied to the payment of principal of and interest on the Series 2026A Bonds <br /> shall be credited against the obligation of the Borrower to make principal and interest <br /> payments on the Series 2026 Note corresponding to such principal and interest payments <br /> on such Series 2026A Bonds, as such Series 2026A Note payments become due; and <br /> (b) the principal amount of and interest on the Series 2026A Bonds purchased <br /> by the Borrower and delivered to the Trustee and canceled, or purchased by the Trustee <br /> and canceled, shall be credited against the corresponding obligation of the Borrower to <br /> make the principal of and interest payments on the Series 2026A Note. <br /> -13- <br />
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