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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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THIS FIRST SUPPLEMENTAL BOND TRUST INDENTURE (the "First Supplemental Bond <br /> Indenture") dated January 25, 2012 between the CITY OF DECATUR, MACON COUNTY, ILLINOIS, a <br /> municipality and a home rule unit under the provisions of the Illinois Constitution of 1970 <br /> operating under the laws of the State of Illinois and its "home rule" powers (the "Cit))"), and <br /> HICKORY POINT BANK & TRUST, FSB, a federal savings bank, as bond trustee (the "Bond <br /> Trustee"), duly established, existing and authorized to accept and execute trusts of the character <br /> herein set out under and by virtue of the laws of the United States of America, with its <br /> designated corporate trust office, domicile and post office address at 225 North Water Street, <br /> Decatur, Illinois 62523, supplements the Bond Trust Indenture dated as of December 1, 2010 <br /> between the City and the Bond Trustee (the "Bond Indenture"). <br /> WITNESSETH: <br /> WHEREAS, the City is a municipality and a home rule unit under the provisions of the <br /> Illinois Constitution of 1970 operating under the laws of the State of Illinois, its "home rule" <br /> powers (collectively with Ordinance No. 77-33 adopted by the City and entitled "An Ordinance <br /> setting forth the determination of the Council of the City of Decatur, Macon County, Illinois, that <br /> it is in the public interest to assist hospitals serving residents of the City in financing hospital <br /> facilities, and prescribing the procedures to be followed in the issuance of Hospital Facility <br /> Revenue Bonds by the City," as amended by Ordinance 88-25 and Ordinance 2010-73 adopted <br /> by the City, the "Act"); and <br /> WHEREAS, the City is authorized under the Act, among other things, to finance and <br /> refinance the cost of hospital facilities owned and operated by not-for-profit hospitals, to issue <br /> bonds for the purpose of loaning funds to said hospitals for such purposes and for the purpose of <br /> refunding previously issued bonds, such bonds to be secured by instruments evidencing and <br /> securing such loans to said institutions and to be payable solely out of the payments made by <br /> such institutions thereon, and to enter into a trust indenture providing for the issuance of such <br /> bonds and for their payment and security; and <br /> WHEREAS, Decatur Memorial Hospital (the "Corporation") requested that the City issue <br /> its bonds and loan the proceeds thereof to the Corporation to provide a portion of the funds <br /> necessary to (i) refinance some or all of the outstanding principal amount of certain taxable debt <br /> (the "Bank Debt"), the proceeds of which refinanced the tax-exempt $30,500,000 Illinois Health <br /> Facilities Authority Adjustable Rate Revenue Bonds, Series 1996A (Decatur Memorial Hospital <br /> Project) and (ii) pay certain expenses incurred in connection with the issuance of the Series 2010 <br /> Bonds and the refinancing of the Bank Debt, and the City issued its Hospital Facility Revenue <br /> Bonds, Series 2010 (Decatur Memorial Hospital) (the "Series 2010 Bonds") in one or more <br /> series to provide a portion of such funds; and <br /> WHEREAS, the Corporation designated the Series 2010 Bonds as "Qualified Tax-Exempt <br /> Obligations" pursuant to and as defined in Section 265(b)(3) of the Internal Revenue Code of <br /> 1986, as amended (the "Code"); and <br /> WHEREAS, the Corporation requested that the purchasers of the Series 2010 Bonds (the <br /> "Purchasers") consider providing interest rate relief on the Series 2010 Bonds so as to reduce the <br /> total interest cost of the Series 2010 Bonds; and <br />
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