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2001-52 AUTHORIZING AND APPROVING THE CURRENT REFUNDING
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2001-52 AUTHORIZING AND APPROVING THE CURRENT REFUNDING
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3/2/2016 10:59:18 AM
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Resolution/Ordinance
Res Ord Num
2001-52
Res Ord Title
AUTHORIZING & APPROVING THE CURRENT REFUNDING OF THE REMAINING PORTION OF ILLINOIS HOSPITAL FACILITY REVENUE REFUNDING BONDS, SERIES 1991A, ETC.
Approved Date
7/2/2001
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I <br /> WHEREAS, the City loaned the proceeds of the Series 1991A Bonds to Decatur <br /> Memorial Hospital, an Illinois not for profit corparation (the "Corporation"), for the purpose <br /> of advance refunding the outstanding portion of the Series 1983 Bonds; and, <br /> WHEREAS, the Corporation now desires to currently refund the remaining portion of <br /> the Series 1991A Bonds with funds obtained from a loan from the Illinois Health Facilities <br /> Autharity and certain other moneys and is requesting the City to assist the Corporation in <br /> accomplishing the same by entering into a Second Supplemental Bond Trust Indenture (the <br /> "Second Supplemental Bond Indenture") with the Series 1991A Trustee, supplementing the <br /> Series 1991 Bond Indenture; and, <br /> WHEREAS, it is in the best interest of the City and in furtherance of the general <br /> health and welfare of the residents of the City and the surrounding areas to authorize and <br /> approve the execution and delivery of the Second Supplemental Bond Indenture. <br /> NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY <br /> OF DECATUR, ILLINOIS: <br /> Section l. The City is a home rule unit under the provisions of the 1970 Constitution <br /> of Illinois, and as a home rule unit may, under the powers granted by Section 6(a) of Article <br /> VII thereof, "exercise any power and perform any function pertaining to its government and <br /> affairs." This Ordinance is adopted pursuant to the City's home rule powers, any provisions <br /> contained in the Illinois Municipal Code to the contrary notwithstanding. <br /> Section 2. The City Council does hereby authorize and approve the execution by the <br /> Mayor under the seal of the City, attested by its City Clerk; and the delivery of the Second <br /> Supplemental Bond Indenture, supplementing the Series 1991 Bond Indenture. Such Second <br /> Supplemental Bond Indenture shall be in substantially the form attached hereto and marked <br /> Exhibit A and hereby approved, or with such changes therein as shall be approved by the <br /> officials of the City executing the same, such execution to constitute conclusive evidence of <br /> their approval, and of the City Council's approval, of any changes therein from the form of <br /> Second Supplemental Bond Indenture attached hereto. <br /> Section 3. The members, officials, agents and employees of the City are hereby <br /> authorized, empowered and directed to do all such acts and things and to execute, deliver <br />, and/or approve all such documents and showings as may be necessary to carry out and <br /> comply with the provisions of this Ordinance, and all of the acts and doings of the members, <br /> officials, agents and employees of the City which are in conformity with the intent and <br /> purposes of this Ordinance, whether heretofore or hereafter taken or done, shall be and are <br /> hereby ratified, confirmed and approved. <br /> Section 4. The rovisions of this Ordinance are hereb <br /> p y declared to be separable, and <br /> if any section, phrase or provision shall for any reason be declared to be invalid, such <br /> i CH-1169726v1 2 <br />
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