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2010-79 PROVIDING FOR THE ISSUANCE OF FOUR SERIES OF GENERAL OBLIGATION BONDS
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2010-79 PROVIDING FOR THE ISSUANCE OF FOUR SERIES OF GENERAL OBLIGATION BONDS
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8/27/2015 10:31:38 AM
Creation date
8/27/2015 10:31:33 AM
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Resolution/Ordinance
Res Ord Num
2010-79
Res Ord Title
PROVIDING FOR THE ISSUANCE OF FOUR SERIES OF GENERAL OBLIGATION BONDS AND PROVIDING FOR THE LEVY AND COLLECTION OF A DIRECT ANNUAL TAX FOR THE PAYMENT OF THE PRINCIPAL OF AND INTEREST ON SAID BONDS
Department
Finance
Approved Date
11/15/2010
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Section 1. Definitions. In addition to such other words and terms used and defined in <br /> this Ordinance, the following words and terms used in this Ordinance shall have the following <br /> meanings, unless, in either case, the context or use clearly indicates another or different meaning <br /> is intended: <br /> "Act" means, collectively, the Illinois Municipal Code, as supplemented and amended, <br /> the home rule powers of the City under Section 6 of Article VII of the Illinois Constitution of <br /> 1970 and the Enabling Ordinance adopted pursuant to such home rule powers; and, in the event <br /> of conflict between the provisions of said code and home rule powers, the home rule powers <br /> shall be deemed to supersede the provisions of said code. <br /> "Bond" or "Bonds" means one or more, as applicable, of the $41,590,000 aggregate <br /> principal amount of the four series of General Obligation Bonds, Series 2010, authorized to be <br /> issued by this Ordinance. <br /> "Bond Fund" means the Bond Fund established and defined in Section 12 of this <br /> Ordinance. <br /> "Bond Register" means the books of the City kept by the Bond Registrar to evidence the <br /> registration and transfer of the Bonds. <br /> "Bond Registrar" means The Bank of New York Mellon Trust Company, National <br /> Association, Chicago, Illinois, or a successor thereto or a successor designated as Bond Registrar <br /> hereunder. <br /> "Build America Payments" means the payments received by the City directly from the <br /> Secretary of the U.S. Treasury pursuant to Section 6431 of the Code. The amount of each Build <br /> America Payment is set in Section 6431 of the Code at 35 percent of the corresponding interest <br /> payable on the 2010B Qualified Build America Bonds. <br /> "City" means the City of Decatur, Macon County, Illinois. <br /> -7- <br />
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