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<br /> ORDINANCE NO. 2010-74
<br /> AN ORDINANCE authorizing the execution and delivery of a Memorandum of
<br /> Agreement pertaining to the issuance of the $21,000,000 Hospital Facility
<br /> Revenue Bonds, Series 2010 (Decatur Memorial Hospital), of the City of Decatur,
<br /> Macon County, Illinois, and ratifying, confirming and approving other actions
<br /> related thereto
<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 on April 4, 1988 and approved by the Mayor on April 4, 1988 and by an
<br /> ordinance duly adopted by the Council on October 21, 2010 and approved by the Mayor on
<br /> October 21, 2010 (as so amended, the "Enabling Ordinance"), the City is authorized to issue
<br /> Hospital Facility Revenue Bonds for the purposes of financing in whole or in part the cost of the
<br /> acquisition, purchase, construction, reconstruction, improvement, equipping, betterment or
<br /> extension of a hospital, or other health care facility located in the City, to redeem, retire or
<br /> otherwise pay any outstanding indebtedness of a hospital and of refunding bonds previously
<br /> isslted pursuant to the Enabling Ordinance; and
<br /> WHEREAS, Decatur Memorial Hospital, an Illinois not-for-profit corporation (the
<br /> "Hospital"), wishes to have the City issue its bonds and loan the proceeds thereof to the Hospital
<br /> to provide a portion of the funds necessary to (i) refinance some or all of the outstanding
<br /> principal amount of certain taxable debt (the "Prior Indebtedness"), the proceeds of which
<br /> refinanced the tax-exempt $30,500,000 Illinois Health Facilities Authority Adjustable Rate
<br /> Revenue Bonds, Series 1996A (Decatur Memorial Hospital Project), (ii) pay or reimburse the
<br /> Hospital for the payment of the costs of the acquisition, construction, renovation, remodeling and
<br /> equipping of certain health care facilities of the Hospital and (iii) pay certain expenses incurred
<br /> in connection with the issuance of the Series 2010 Bonds and the refinancing of the Prior
<br /> Indebtedness (collectively, the "Financing Purposes"), and the City is willing to issue its Health
<br /> Care Revenue Bonds, Series 2010 (Decatur Memorial Hospital) (the "Series 2010 Bonds"), to
<br /> provide a portion of such funds; and
<br /> WHEREAS, in order to provide such funds, it is necessary and in the best interest of the
<br /> City to authorize the issuance of not to exceed $21,000,000 in aggregate principal amount of the
<br /> Series 2010 Bonds pursuant to the Enabling Ordinance; and
<br /> CHI-1771509x6
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