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ORDINANCE NO. 2010-76
<br /> AN ORDINANCE authorizing the issuance of not to exceed $21,000,000
<br /> Hospital Facility Revenue Bonds, Series 2010 (Decatur Memorial Hospital) (the
<br /> "Series 2010 Bonds") by the City of Decatur, Macon County, Illinois; approving
<br /> the execution and delivery of a Bond Purchase Agreement providing for the sale
<br /> of the Series 2010 Bonds, a Loan Agreement dated as of October 1, 2010, a Bond
<br /> Trust Indenture dated as of October 1, 2010 and a Tax Exemption Agreement
<br /> dated the date of initial issuance of the Series 2010 Bonds; and authorizing and
<br /> approving certain other matters.
<br /> WHEREAS, pursuant to an ordinance entitled "AN ORDINANCE setting forth the
<br /> determination by the Council of the City of Decatur, Macon County, Illinois, that it is in the
<br /> public interest to assist hospitals serving residents of the City in financing hospital facilities, and
<br /> prescribing the procedures to be followed in the issuance of Hospital Facility Revenue Bonds by
<br /> the City" duly adopted by the Council of the City of Decatur, Macon County, Illinois (the "City")
<br /> on April 4, 1977, and approved by the Mayor on April 4, 1977, as amended by an ordinance duly
<br /> adopted by the Council of the City on April 4, 1988 and approved by the Mayor on April 4, 1988
<br /> and an ordinance duly adopted by the Council of the City on October 21, 2010 and approved by
<br /> the Mayor on October 21, 2010 (as so amended, the "Enabling Ordinance"), the City is
<br /> authorized to issue Hospital Facility Revenue Bonds for the purposes of financing in whole or in
<br /> part the cost of the acquisition, purchase, construction, reconstruction, improvement, equipping,
<br /> betterment or extension of a hospital, or other health care facility located in the City, redeeming,
<br /> retiring or otherwise paying any outstanding indebtedness of a hospital and refunding bonds
<br /> previously issued for the benefit of a hospital; and
<br /> WHEREAS, Decatur Memorial Hospital (the "Hospital") has requested that the City
<br /> issue its bonds and loan the proceeds thereof to the Hospital 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 (collectively, the "Financing Purposes"), and the
<br /> City is willing to issue its Hospital Facility Revenue Bonds, Series 2010 (Decatur Memorial
<br /> Hospital) (the "Series 2010 Bonds") in one or more series to provide a portion of such funds; and
<br /> WHEREAS, in order to provide funds for the Financing Purposes, it is necessary and in
<br /> the best interest of the City to authorize the issuance of not to exceed $21,000,000 in aggregate
<br /> CHI-17727770
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