2009-35 AMENDING AN ORDINANCE - Laserfiche WebLink

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ORDINANCE NUMBER 2009-35 AN ORDINANCE amending an ordinance of the City of Decatur, Macon County, Illinois, authorizing the issuance of a Taxable General Obligation Line of Credit Note of said City. WHEREAS, the Council of the City (the "Council") of the City of Decatur, Macon County, Illinois (the "City"), on the 2nd day of October, 2006, adopted an ordinance numbered 2006-94 and entitled: AN ORDINANCE providing for the issuance of a not to exceed $4,500,000 Taxable General Obligation Line of Credit Note, of the City of Decatur, Macon County, Illinois, to pay the costs of the City's share of the Wabash Crossing Phase II infrastructure costs, and providing for the security for and payment of said note. as amended by a resolution adopted by the Council on the 15th day of December, 2008, being entitled: AN ORDINANCE amending an ordinance of the City of Decatur, Macon County, Illinois, authorizing the issuance of a Taxable General Obligation Line of Credit Note of said City. (the "Note Ordinance"); and WHEREAS, pursuant to, and in accordance with, the Note Ordinance, the City entered into a Line of Credit Agreement (the "Agreement") with National City Bank, Decatur, Illinois (the "Bank"), and delivered its Taxable General Obligation Line of Credit Note, dated the 6th day of October, 2006 (the "Note"), to the Bank; and WHEREAS, the City has borrowed funds from time to time from the Bank against and as evidenced by the Note; and