2004-54 AUTHORIZING AND APPROVING THE REFUNDING OF OUTSTANDING SERIES 1993 BONDS

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SECTION 1. Exercise of Home Rule Powers. The City is a home rule unit under the provisions of the 1970 Constitution of Illinois, and as a home rule unit may, under the powers granted by Section 6(a) of Article VII thereof, "exercise any power and perform any function pertaining to its government and affairs." This Ordinance is adopted pursuant to the City's home rule powers, any provisions contained in the Illinois Municipal Code to the contrary notwithstanding. SECTION Z. Findings. The refunding of the Series 1993 Bonds pursuant to the provisions of the Supplemental Indenture hereinafter referred to is hereby authorized and approved and this Council hereby finds that such refunding will promote the general health and welfare of the residents of the City and surrounding areas. SEcriorr 3. Supplemental Indenture. The City Council does hereby authorize and approve the execution by the Mayor under the seal of the City, attested by its City Clerk, and the delivery of a First Supplemental Trust Indenture (the "Supplemental Indenture")between the City and U S Bank National Association (successor to First of America Trust Company), as trustee (the "Series 1993 Trustee"), supplementing the Series 1993 Indenture and providing for the refunding of all outstanding Series 1993 Bonds. Such Supplemental Indenture shall be substantially in the form of the Supplemental Indenture attached hereto and marked Exhibit A and hereby approved, or with such changes therein as shall be approved by the officials of the City executing the same, such execution to constitute conclusive evidence of their approval, and of the City Council's approval, of any changes or revisions therein from the form of the Supplemental Indenture attached hereto.