My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
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
COD
>
City Clerk
>
ORDINANCES
>
2026
>
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
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
10/26/2026 2:45:40 PM
Creation date
10/26/2026 2:45:29 PM
Metadata
Fields
Template:
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
Department
City Manager
Approved Date
10/5/2026
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
154
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
(e) any judgment,writ or warrant of attachment or of any similar process in an <br /> amount in excess of$1,000,000, individually or in the aggregate, shall be entered or filed <br /> against the Borrower or against any of its property and remains unvacated, unpaid, <br /> unbonded, unstayed, or uncontested in good faith for a period of 60 days (in determining <br /> whether such $1,000,000 threshold has been reached only judgments, writs or warrants of <br /> attachments or any similar process entered or filed against the Borrower itself and not <br /> against any corporation or entity affiliated with, related to or a subsidiary of the Borrower <br /> shall be taken into account); or <br /> (f) the Borrower admits insolvency or bankruptcy or its inability to pay its <br /> debts as they become due, or makes an assignment for the benefit of creditors or applies <br /> for or consents to the appointment of a trustee, custodian or receiver for the Borrower, or <br /> for the substantial part of its property; or <br /> (g) a trustee, custodian or receiver is appointed for the Borrower or for the <br /> major part of its property and is not discharged within 60 days after such appointment; or <br /> (h) any event of default as defined in Section 7.01 of the Indenture shall occur <br /> and be continuing; or <br /> (i) bankruptcy, reorganization, arrangement, insolvency or liquidation <br /> proceedings, or other proceedings for relief under any bankruptcy law or similar law for <br /> the relief of debtors are instituted by or against the Borrower (other than bankruptcy <br /> proceedings instituted by the Borrower against third parties), and if instituted against the <br /> Borrower are allowed against the Borrower or are consented to or are not dismissed,stayed <br /> or otherwise nullified within 90 days after such institution; or <br /> (j) if the Borrower fails to perform any of its obligations contained in the Tax <br /> Agreement; or <br /> (k) the occurrence of a Determination of Taxability; or <br /> (1) any default or event of default shall have occurred under the Series 2026B <br /> Bond Documents; for avoidance of doubt; and, notwithstanding anything herein to the <br /> contrary, an Event of Default arising under this clause (1) shall not be cured, waived, <br /> rescinded or annulled by reason of any waiver, forbearance,rescission, annulment or other <br /> action or inaction of by the holder(s) of or the trustee for the Series 2026B Bonds; or <br /> (m) Any provision of any Borrower Document or Security Document shall <br /> cease to be valid, binding or enforceable, or any lien purported to be created thereby shall <br /> cease to constitute a valid and perfected lien of the priority created thereby, in each case <br /> other than as expressly permitted by the Borrower Documents or the Security Documents, <br /> as applicable; or <br /> -24- <br />
The URL can be used to link to this page
Your browser does not support the video tag.