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R2005-69 PROVIDING FOR AN ALLOCATION AGREEMENT
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R2005-69 PROVIDING FOR AN ALLOCATION AGREEMENT
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Last modified
12/21/2015 2:31:19 PM
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12/21/2015 2:31:19 PM
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Resolution/Ordinance
Res Ord Num
R2005-69
Res Ord Title
PROVIDING FOR AN ALLOCATION AGREEMENT TO BE ENTERED INTO BY AND AMONG THE CITY OF DECATUR, THE DECATUR PUBLIC BUILDING COMMISSION AND THE COUNTY OF MACON
Approved Date
6/6/2005
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,� . <br /> ALLOCATION AGREEMENT <br /> WHEREAS the City of Decatur, Macon County, Illinois (the "City'�, the Decatur <br /> Public Building Commission, Macon County, Illinois (the "PBC'� and The County of <br /> Macon, Illinois (the "County'� are each political subdivisions of the State of Illinois (the <br /> "State'�; <br /> WHEREAS the PBC anticipates issuing its not to exceed $9,990,000 General <br /> Obligation Lease Revenue Bonds, Series 2005 (the "Series 2005 Bonds'� on or about <br /> June 9, 2005; <br /> WHEREa,s 100% of the proceeds of the Series 2005 Bonds will be used to finance <br /> or refinance buildings or portions of buildings leased to the County; <br /> WHEREAS 100% of the principal of and interest on the Series 2005 Bonds is <br /> expected to be paid from lease payments to be made by the County to the PBC; <br /> WHEREas certain allocations may be made under and pursuant to the provisions <br /> of Section 265(b)(3)(C) of the Internal Revenue Code of 1986 relating to the issuance <br /> of tax-exempt bonds on a "bank-qualified" basis for certain small issuers as provided in <br /> said Code section; and <br /> WHEREas it is advantageous for both the County and the City that the Series 2005 <br /> Bonds be allocated to the County for the purposes of said Code Section; <br /> Now THEREFORE in consideration of the mutual benefit to be derived, the County, <br /> the PBC and the City hereby agree as follows: <br /> EXHIBIT A <br />
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