Laserfiche WebLink
1 j <br /> The words "hereof," "herein," "hereunder" and other words of similar import refer I <br /> to this Bond Resolution as a whole. ' <br /> "Initial Interest Rate" means a rate of interest equal to 5.60% per annum. I! <br /> "Interest Payment Date" means monthly on the fourth (4th) day of each month � <br /> during the term of the Note, as herein defined, commencing December 4, 1999. <br /> "Interest Rate Adjustment Date(s)" means November 4, 2004, November 4, 2009, � <br /> November 4, 2014 and November 4, 2019 and any date or dates on which there is a , <br /> change in the Tax Rate or a change in the TEFRA Disallowance Deduction (individually , <br /> the "Interest Rate Adjustment Date" and collectively the "Interest Rate Adjustment ', <br /> Dates"). ' <br /> "Investment Securities" means (i) direct obligations of the United States of <br /> America, or (ii) deposits which are fully insured by the Federal Deposit Insurance <br /> Corporation, or (iii) any other deposits with the consent of the Assignee and the <br /> Company. <br /> "Issuer" means the City of Decatur, Illinois. <br /> "Loan Agreement" means the Loan Agreement dated as of November 1, 1999, by <br /> and between the Issuer and the Company, including the Note of the Company executed <br /> and delivered pursuant thereto, as from time to time amended and supplemented by <br /> Supplemental Loan Agreements. <br /> "Loan Year" means each period from November 4 to the following November 3 <br /> during the time period that the Bonds are outstanding. <br /> "Mortgage" means the Mortgage and Security Agreement dated as of November <br /> l, 1999, from the Company to the Issuer and assigned to the Assignee, as its interests <br /> appear, as from time to time amended and supplemented by Supplemental Mortgages. <br /> "Note" means the note of the Company in the principal amount of $750,000 <br /> delivered to the Issuer and endorsed to the Assignee which evidences the obligation of the <br /> Company to repay the loan to it by the Issuer of the proceeds of the Bonds, which note is <br /> in substantially the form attached as Exhibit A to the Loan Agreement. <br /> "Overdue Rate" means the applicable interest rate (Initial Interest Rate, Adjusted <br /> Interest Rate or Taxable Interest Rate, all as herein defined, as the case may be), plus one <br /> percent (1%). <br /> "Original Purchaser" means Central Illinois Bank, Decatur, Illinois. <br /> "Paying Agent" means Central Illinois Bank, Decatur, Illinois, pursuant to the <br /> Bond Registrar an�Paying Agent Agreement. <br /> 5 <br />