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2014-33 AUTHORIZING PARTIAL REISSUANCE AND CURRENT REFUNDING OF A PORTION OF HOSPITAL FACILITY REVENUE BONDS, SERIES 2010
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2014-33 AUTHORIZING PARTIAL REISSUANCE AND CURRENT REFUNDING OF A PORTION OF HOSPITAL FACILITY REVENUE BONDS, SERIES 2010
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8/3/2015 11:46:09 AM
Creation date
8/3/2015 11:46:01 AM
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Resolution/Ordinance
Res Ord Num
2014-33
Res Ord Title
AUTHORIZING THE PARTIAL REISSUANCE AND CURRENT REFUNDING OF A PORTION OF HOSPITAL FACILITY REVENUE BONDS, SERIES 2010
Department
Finance
Approved Date
7/21/2014
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4� <br /> t�y� <br /> UNITED STATES OF AMERICA <br /> STATE OF ILLINOISgd4 , <br /> CITY OF DECATUR,MACO <br /> HOSPITAL FACILITY B E A <br /> x E m <br /> (DE L <br /> No. R-5 $2,449,200 <br /> ,,ems I <br /> Dated Date: July 24, <br /> Maturity Date: December 22,2020 <br /> Principal Amount: Two Million Four Hundred Forty-Nine Thousand T o Hundred Dollars <br /> Registered Owner: Hickory Point Bank & Trust, fsb <br /> The CITY OF DECATUR, MACON COUNTY, ILLINOIS (the "City"), a municipality and a <br /> home rule unit under the provisions of the Illinois Constitution of 1970 oper ting under the laws <br /> of the State of Illinois and its "home rule" powers (the "Act"), for val ereceived, hereby <br /> promises to pay in lawful money of the United States of America to e registered owner <br /> identified above, or registered assigns, on the maturity date specified abo e, unless this Bond <br /> shall be redeemable and shall have previously been called for redemption and payment of the <br /> redemption price made or provided for, but solely from amounts available under the Bond <br /> Indenture, payments on the Series 2010 Obligations and certain amounts payiable under the Loan <br /> Agreement (all as hereinafter referred to), which payments and amounts are pledged and <br /> assigned for the benefit and payment hereof pursuant to the Bond Indenture and not otherwise, <br /> upon presentation and surrender hereof, the principal amount specified above and to pay interest <br /> on such principal amount in like manner, but solely from said amounts avail ble under the Bond <br /> Indenture, and the payments on the Series 2010 Obligations, and the Loan Agreement, from the <br /> dated date hereof at the interest rate per annum specified below, payable on each March 1, <br /> June 1, September 1 and December 1, commencing on September 1, 2014, Witil payment of such <br /> principal amount, or provision therefor, shall have been made upon redem tion or at maturity. <br /> Interest on the Bonds, shall be computed on a 365/360 basis; that is, by app ying the ratio of the <br /> interest rate over a year of 360 days, multiplied by the outstanding principa balance, multiplied <br /> by the actual number of days the principal balance is outstanding. From the Dated Date through <br /> and including December 22, 2015, interest on the Bonds shall accrue at rate of 2.75% per <br /> annum. From and including December 23, 2015 through and including the Maturity Date, the <br /> Bonds shall bear interest at a rate per annum equal to the product of(x) sum of(i) the Federal <br /> Home Loan Bank of Chicago Regular Fixed Rate for advances of five (5) years <br /> (www.fhlbc.com)plus (ii) 2.75%multiplied by (y) 0.69; provided, however that in no event shall <br /> such rate be less than 3.50%per annum. <br />
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