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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
Creation date
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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a description of the property subject to the lien and security interest thereof, the nature and extent <br /> of the security for the Series 2026A Note and the rights of the holders hereof and thereof, the <br /> Borrower and the City in respect thereof, and the provisions for amending the Loan Agreement,to <br /> all of which the holder hereof, by its acceptance hereof, assents. <br /> The principal of this Note is subject to prepayment by the Borrower from time to time, in <br /> the manner and under the circumstances set forth in the Loan Agreement, in whole or in part, at a <br /> price equal to 100% of the principal amount of such installments or parts thereof being prepaid <br /> plus accrued and unpaid interest thereon to the date fixed for prepayment,together with premium, <br /> if any, provided for in the Loan Agreement upon such prepayment. <br /> In certain events and in the manner set forth in the Loan Agreement, the entire principal <br /> amount of this Note and interest accrued hereon may be declared to be due and payable. <br /> No recourse shall be had for the payment of the principal of,or premium, if any, or interest <br /> on this Note, or for any claim based thereon or on the Loan Agreement or any agreement <br /> supplemental thereto, against any trustee, member, director, officer or employee, past, present or <br /> future, of the Borrower, or of any successor corporation, as such, either directly or through the <br /> Borrower or any such successor corporation, whether by virtue of any constitution, statute or rule <br /> of law or by the enforcement of any assessment or penalty,or otherwise,all such liability,whether <br /> at common law, in equity, by any constitution, statute or otherwise, of members,trustees, officers <br /> or employees as such, being released as a condition of and consideration for the execution of the <br /> Loan Agreement and the issuance of this Note. <br /> • <br /> A-2- <br />
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