96-77 AUTHORIZING AND APPROVING THE ADVANCE REFUNDING OF A PORTION OF HOSPITAL FACILITY REVENUE BONDS

Home Browse Search

_ , , This FIRST SUPPLEMENTAL BOND TRUST INDENTURE dated as of November 1, 1996 (this "First Supplemental Bond Indenture") between the CITY OF DECATUR, MACON COUNTY, ILLINOIS, a municipality and a home rule unit under the provisions of the Illinois Constitution of 1970 operating under the laws of the State of Illinois and its "home rule" powers (the "Municipality"), and THE FIRST NATIONAL BANK OF DECATUR, a national banking association duly established, existing and authorized to accept and execute trusts of the character herein set out under and by virtue of the laws of the United States of America, with its principal office, domicile and post office address at 130 North Water Street, Decatur, Illinois 62523, as trustee under the hereinafter described Bond Trust Indenture (the "Series 1991 Trustee"); W ITNESSETH WHEREAS, the Municipality is a municipality and a home rule unit under the provisions of the Illinois Constitution of 1970 operating under the laws of the State of Illinois and its "home rule" powers (the "Act"); and WHEREAS, the Municipality is authorized under the Act, among other things, to finance the cost of health care facilities owned and operated by nonprofit institutions, to issue bonds for the purpose of loaning funds to said institutions, such bonds to be secured by instruments evidencing and securing such loans to said institutions and to be payable solely out of the payments made by such institutions thereon, and to enter into a trust indenture providing for the issuance of such bonds and for their payment and security; and WHEREAS, the Municipality and the Series 1991 Trustee have heretofore executed and delivered the Bond Trust Indenture dated as of June 1, 1991 (the "Series 1991 Bond Indenture") for the purpose of providing for the issuance by the Municipality of its Hospital Facility Revenue Refunding Bonds, Series 1991A (Decatur Memorial Hospital) (the "Series 1991A Bonds") in the aggregate principal amount of $9,950,000 and its Hospital Facility Revenue Bonds, Series 1991B (Decatur Memorial Hospital) (the "Series 1991B Bonds" and, together with the Series 1991A Bonds, the "Series 1991 Bonds") in the aggregate principal amount of $30,050,000, $26,350,000 of which are currently outstanding; and WHEREAS, the proceeds from the issuance and sale of the Series 1991B Bonds were used by Decatur Memorial Hospital, an Illinois not for profit corporation (the "Corporation"), together with certain other funds, to (i) pay or reimburse the Corporation for the payment of costs of acquiring, constructing, renovating, remodeling and equipping certain health facilities of the Corporation (the "Project"), (ii) pay a portion of the interest on the Series 1991B Bonds during the construction period of the Project, and (iii) pay certain expenses incurred in connection with the issuance of the Series 1991B Bonds, including the premium on the bond insurance policy which insures the Series 1991B Bonds; and