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2001-08 PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION LINE OF CREDIT NOTES
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2001-08 PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION LINE OF CREDIT NOTES
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3/2/2016 3:12:44 PM
Creation date
3/2/2016 3:12:42 PM
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Resolution/Ordinance
Res Ord Num
2001-08
Res Ord Title
PROVIDING FOR THE ISSUANCE OF NOT TO EXCEED $10,000,000 GENERAL OBLIGATION LINE OF CREDIT NOTES TO PAY THE COSTS OF REDEVELOPMENT PROJECTS AND PROVIDING FOR THE SECURITY FOR AND PAYMENT OF SAID NOTES
Approved Date
3/5/2001
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� <br /> ` I <br /> . <br /> Date of Authentication: , <br /> CERTIFICATE OF AUTHENTICATION Note Registrar and Paying Agent: <br /> This Note is one of the Notes described in the National City Bank of Michigan/Illinois <br /> within-mentioned Ordinance and is one of the Decatur, Illinois <br /> General Obligation Line of Credit Notes, of the <br /> City of Decatur, Macon County, Illinois <br /> National City Bank of Michigan/Illinois, <br /> as Note Registrar <br /> By <br /> Authorized Officer <br /> [Form of Note-Reverse Side] <br /> This note is one of a series of notes (the `?Votes") in the aggregate principal amount of <br /> not to exceed $10,000,000 issued from time to time under single authorization by the City for the <br /> purpose of paying the costs of the Redevelopment Project and of paying expenses incidental <br /> thereto, all as described and defined in the ordinance authorizing the Notes (the "Ordinance"), <br /> pursuant to and in all respects in compliance with the applicable provisions of the Illinois <br /> Municipal Code, as supplemented and amended (including, specifically, the Tax Increment <br /> Allocation Redevelopment Act, as amended), and as further supplemented and, where necessary, <br /> superseded, by the powers of the City as a home rule unit under the provisions of Section 6 of <br /> Article VII of the Illinois Constitution of 1970 (such code and powers being the "Act'�, and with <br /> the Ordinance, which has been duly passed by the Corporate Authorities, approved by the Mayor <br /> of the City, and published, in all respects as by law required. <br /> THE CITY HAS DESIGNATED THIS NOTE AS A "QUALIFIED TAX EXEMPT OBLIGATION" <br /> PURSUANT TO SECTION 265(b)(3�OF THE INTERNAL REVENUE CODE OF 1986 (THE "CODE"). <br /> If interest on this Note is determined to be taxable as set forth in the Ordinance ("Event <br /> of Taxability"), such interest shall be re-computed from the date of occurrence of such Event of <br /> -13- <br />
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