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2012-01 AUTHORIZING PARTIAL REISSUANCE AND CURRENT REFUNDING OF HOSPITAL FACILITY REVENUE BONDS, SERIES 2010
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2012-01 AUTHORIZING PARTIAL REISSUANCE AND CURRENT REFUNDING OF HOSPITAL FACILITY REVENUE BONDS, SERIES 2010
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8/25/2015 4:17:23 PM
Creation date
8/25/2015 4:17:21 PM
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Resolution/Ordinance
Res Ord Num
2012-01
Res Ord Title
AUTHORIZING THE PARTIAL REISSUANCE AND CURRENT REFUNDING OF A PORTION OF $16,524,000 HOSPITAL FACILITY REVENUE BONDS, SERIES 2010
Department
Finance
Approved Date
1/17/2012
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office of Hickory Point Bank & Trust, fsb, Decatur, Illinois, as bond trustee (the "Bond <br /> Trustee"), or (ii) as to the Purchasers and any registered owner of $1,000,000 or more in <br /> aggregate principal amount of Bonds (as hereinafter defined) who so elects and who has <br /> presented its Series 2010 Bond on or prior to the payment date, by wire transfer of funds to such <br /> wire transfer address within the continental United States as such registered owner shall have <br /> furnished to the Bond Trustee in writing on or prior to the Business Day prior to the Record <br /> Date. Except as otherwise provided in the Bond Indenture with respect to Defaulted Interest (as <br /> defined therein), interest payments hereon shall be made to the registered owner hereof <br /> appearing on the registration books maintained by the Bond Trustee (the "Bond Register") <br /> maintained by the Bond Trustee, as bond registrar, as of the close of business of the Bond <br /> Trustee on the fifth day (whether or not a Business Day) next preceding the applicable interest <br /> payment date (the "Record Date") and shall be paid (i) by check or draft of the Bond Trustee <br /> mailed on the applicable interest payment date to the registered owner at such owner's address as <br /> it appears on the Bond Register or at such other address furnished to the Bond Trustee in writing <br /> by such owner on or prior to the Record Date or (ii) as to the Purchasers and any registered <br /> owner of $1,000,000 or more in aggregate principal amount of Bonds who so elects, by wire <br /> transfer of funds on the applicable interest payment date to such wire transfer address within the <br /> continental United States as the registered owner shall have furnished to the Bond Trustee in <br /> writing on or prior to Business Day prior to the Record Date. <br /> This Bond is one of an authorized series of Bonds issued by the City under the Bond <br /> Indenture, designated City of Decatur, Macon County, Illinois Hospital Facility Revenue Bonds, <br /> Series 2010_ (Decatur Memorial Hospital), in the aggregate principal amount of$ <br /> (the "Series 2010_ Bonds"). The proceeds of the Series 2010_ Bonds, together with the <br /> proceeds of three additional series of bonds issued under and ratably secured by the Bond <br /> Indenture (collectively, the "Bonds"), were loaned to Decatur Memorial Hospital, an Illinois not <br /> for profit corporation (the "Corporation") as permitted under the Act. The Corporation secured <br /> such loan by issuing to the City its Decatur Memorial Hospital Direct Note Obligations, Series <br /> 2010A-D (the "Series 2010 Obligations") pursuant to a Master Trust Indenture dated as of June <br /> 1, 1991, as previously supplemented and amended by the First Supplemental Master Trust <br /> Indenture dated as of June 1, 1991, the Second Supplemental Master Trust Indenture dated as of <br /> June 1, 1996, the Third Supplemental Master Trust Indenture dated as of November 1, 1996, the <br /> Fourth Supplemental Master Trust Indenture dated as of July 1, 2001, the Fifth Supplemental <br /> Master Trust Indenture dated as of September 1, 2009, the Sixth Supplemental Master Trust <br /> Indenture dated as of December 1, 2010, and the Seventh Supplemental Master Trust Indenture <br /> dated January 25, 2012, and as further supplemented (collectively, the "Master Indenture") <br /> between the Corporation and U.S. Bank National Association, as successor master trustee (the <br /> "Master Trustee"). <br /> The City loaned the proceeds of the Bonds to the Corporation pursuant to a Loan <br /> Agreement dated as of December 1, 2010 (the "Loan Agreement") between the Corporation and <br /> the City. The Corporation has agreed in the Loan Agreement to pay the City amounts sufficient <br /> to pay all amounts coming due on the Bonds (as hereinafter defined) and the City has assigned <br /> its rights to such payments under the Loan Agreement to the Bond Trustee as security for the <br /> Bonds. <br /> 15 <br />
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