Laserfiche WebLink
, , � <br /> � � . <br /> "Code"means the Internal Revenue Code of 1986, as amended. <br /> "Council"means the Council of the City. <br /> "Counry Clerk"means the County Clerk of The County of Macon, Illinois. <br /> "Ordinance" means this Ordinance, numbered as set forth on the title page hereof, and <br /> passed by the Council on the 17th day of October, 2005. <br /> "Paying Agent" means U.S. Bank National Association, St. Paul, Minnesota, a national <br /> banking association, or a successor thereto or a successor designated as Paying Agent hereunder. <br /> "Pledged Taxes" means the t�es levied on the taxable property within the City to pay <br /> principal of and interest on the Bonds as made in Sectionl l hereof. <br /> "Tax-exempt"means, with respect to the Bonds, the status of interest paid and received <br /> thereon as not includible in the gross income of the owners thereof under the Code for federal <br /> income talc purposes except to the extent that such interest will be taken into account in <br /> computing an adjustment used in determining the alternative minimum t� for certain <br /> corporations. <br /> "Term Bonds" means Bonds subject to mandatory redemption by operation of the Bond <br /> Fund and designated as term bonds herein. <br /> ::::>::::>::::>::>::::;::.;;<;>::.>::::;::<>::::>::::>::::: <br /> >::::>:::>:::::<:::>::>::::>::::::.:.::.::>::::>::::>::::>::::::.:;._ <br /> h uncil hereb <br /> finds that all of <br /> :::...<::��� �::�le <br /> T e Co <br /> � >::�� : : ::.���i��.. f <br /> �.:...:.. '�1 <br /> ;::.::::::::::::::::.::::.;:::;:..::::::::. <br /> >::>::>::>::>::::::>::::::>::::>::::<::::;::>::::>::::;;`:::i::>::::::: �<.......?k'��.. ....................C�.............�i1.... �. <br /> �:.;:.;:.;:.;:.;:.;:.;:.;:.;;;:.>:.;:.;:.;:.;:.;:.;:.;:.;:.;:.;:.:.:>:.; y <br /> <.;::::::::::::::::::::::::::::::::::::.;:<:<::.<:::;:::::::::::::::::::::::::::::.;:.;:.::...............................:.:..:................ <br /> ;: true correct and com lete and does <br /> the recitals contained in the preambles to this Ordinance are , p <br /> incorporate them into this Ordinance by this reference. <br /> �::::::::i::::i::::i:::i::::i::::i:::::::;::;:;:::i:::i::::i::::i:::::;:i::::i::;i:.;::i::::.i::::i:;:i::i::i:''.:::i:::>:.>:::::�:��: <br /> �::i:::::;:::i:�::i::::;::i:a::;:;::;:i;::i'::::;:::i::>:�:::�::::i::::;::;::i:';>::::;:�:��::�`��i:� <br /> >::>::>::>::>:;:::>::><::::>;>::>::»»::>::»::>::>::>::>::>::>::>::>::..: .. . . :.::::... ...:. .. . ..:.. :».....:>::: .......::. .:.. . . • d in the best <br /> >::>::>::>::>:::..::.:>::>::>::>::>::>::>::>::>::>:<:::>:<:.:>:<:>::;::����+��::::>:��t��l���t�#��::<�:::<��.���:>::BErn��. It is necessary an <br /> .................................................................................................::<.;:.;:.;ll r 1 d costs and ex enses incidental <br /> ................................................... <br /> interests of the City to provide for the Refunding, to pay a e ate p <br /> thereto, and to borrow money and issue the Bonds for such purposes. It is hereby found and <br /> determined that such borrowing of money is necessary for the welfare of the government and <br /> affairs of the City, is for a proper public purpose or purposes and is in the public interest, and is <br /> -ix- <br />