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R90-23 AUTHORIZING APPLICATION - PUBLIC OFFICIALS' LIABILITY INSURANCE
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R90-23 AUTHORIZING APPLICATION - PUBLIC OFFICIALS' LIABILITY INSURANCE
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8/5/2016 8:58:47 AM
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8/5/2016 8:58:46 AM
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Resolution/Ordinance
Res Ord Num
R90-23
Res Ord Title
AUTHORIZING APPLICATION - PUBLIC OFFICIALS' LIABILITY INSURANCE
Approved Date
2/19/1990
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. \_ � <br /> � .. '� `c�w �ssvE <br />' �. !a the opiaiow oj Bard CouRsel. iRtenst ow rlre Seria 1483 Boeds is cacempt jro�n jeder�! iecoine tasa uadd praerrtly eausri�rg <br />' narn�es. �errlorioa�s c,�d decrsiav Tl,e inrmsr o� die Ssries 1983 Bads ir nor uanpt fr+an Stare oj IlJLioi�ii,cane tascr. <br /> UPDwTFSi"" / NeK P:iecd Dema.d d►dj�abl.Tas E:es�c SecariOws► - <br /> �443,900,000 <br /> , <br /> C'ITY OF D�CATUR, <br /> � � MACON COL;f�1'FY, ILLINOIS <br /> � <br /> Uait Priced Demand Wa esmae 'es <br /> Adjustabte ter R Bonds, Sen 2985 <br /> Date� As dacribed herdn Pricc 1009b � De� MsY I, 20I5 <br /> The Saia l98S Bonds are beia6 iswed to 6aanoe cbe 000�naion and rdaud costs of a Ne�+Soutl� Wates Treacmene Plane for cbe <br /> Gcy and reiaced p+erposa. <br /> 13e Series 1985 Bonds ia cbe Uait ptieia;Made w�iII be ssbjea to re�ass oa tbe dau c�asea by acb sucasiye quthaser tDaeof <br /> ac a pus�c�se prt�x equal co che prinapal amouat tbereof p�us aeacad ineasst t�ereon. The Saia 1985 Ha�ds�•ill also be subjea � <br /> rcdan ' to nsaturi as sa <br /> P� P� h► foRb bada. <br />-- -.. 13e Saia 1985 Honds�iA be iaued uader sAd s�eared by a Trnst Iadeatnes dated as of Apri!1. 1985 bp and smong cbe City.The <br /> Ctiuns National Hank oF Daacur, Dxatuc llliaois. Trnste� ud Tws Commaea Baak Nacionai .tssa.�iacion. Houswn. Tws, Co- <br /> Trastee. 13e Co-Trust�e wiil atso aa ss cbe Bood Resest�ar. Tbe Co•Trastx's a�tt.Tbs Tans C�uaaes Trnst C�ttp�of New York. <br /> wi11 aa ss tbe Payin;A�L ' <br /> The Saies 19aS Sonds aill ba psyabia e:eepc co cba aaa�c payabla haa cbs proc�ds cbereof.sdelv f�n and secarsd bv tbe Va <br /> Rera:ues uf tbe waeer�wrks systea�of tbe Gcy. fran fuads hdd uada or pu�suaat w tbe Indentur�e u�d.wich rsspea w tbe Sesia 1985 <br /> Boads in che Uaic PridA; ;Noda feom funds dia.a under aa irreroeable Lates ot Credit iswed br <br /> THE SUMTTOMO BA1V� LIIyffI'ED ' <br /> .. � Cbici B:aoe� <br /> � <br /> �': Tbe Lata of CrediL�r�ieh r.il!tests�inac�nnless t+eplaced,o�tbe satiies o[April 1.1992 or tba oxurreaee of eestaia sperified c�ra�cs. <br /> wilt paenic tDe Co-Tcvscea co make drswie6s eAersnader for cl�e paymait of tbs pri�eipa!of tbe Saie t 98S Hoods in the Uaic Pricn;Mode <br /> whea due,tbe pnsehax priee aqua!to the prinapsl smount of Series 1983 Boeds ia•tbe Umt Pridst�Moda w be puet�ased and Z'.S dars' <br /> lQLCSLSL 3CQSiCd OA [DC SClfO t983 Bonds ia ths Unit Priciu; Mod� <br /> E�C6 Serio 19E5 Bond ia cDa Unic Pr�dn;Made.iil bas intcat frae tbe dste oE sutheaticiciar.�uria;che Intesrst Period then <br /> applicbie co it at sbac aaa�al in:a�at rau daer�iaed co be necessary co marta we� Ba�d u a prioe e�na{co,and isoe co esead, l00�of <br /> the pnadpal ama�ac tbaso[ Intessst oa t6e Serio t983 Boads io che Uaic Prida;Mode is p�yable oa cbe dar suaesdiag the luc dav of <br /> tbe applieble(ncusst Period(the"Repnrcisase Date'�for Bonds wicb Interese Psriods les tbaa si�c months.aad fa other lncemt Periods. <br /> - tbe Repuresase Date and nch 180 days and ince�st mWtipks chaeof priar to tbe Reputt�ass Daca <br /> �e daereniaacions oF ioterat nu aad Iacasst Period far ac� Saie 19ES Bond ia tha Uait Prida; Mode shall be made <br /> indepeadasdy of wcb decerminaua�s for ury ocher Saiss 1985 Bond. T3a Saia 1985 Bo�s in tbe Uaic Pricia;Moda will be issued u <br /> fully re3iscaed bonds ia da�omin¢rioas of 5100.000 pciueipa! amoua: aad a�r i�eatai multiple of 51.000 iA a�eas of 5100.000. <br /> The principal of and redempcion pr+ea�ium, it asry. on aar Series 19ES Bood shail be psyabia upon e�aauity or redea�pcioe ot <br /> reaurc�se aaon praa+cacion and sur�ada thasof at che oS'sea of the Co-Tro,stea's ageat ia Ne+n Yoric. :Ve+�r Yoric. T�e incerac on aay <br /> Saia 1985 Bond shall be gaid by cl�ecl�or draft,eserpt if tha iutenst panneac dacs a a1w a Repaec5ase Diu.ia which cax incezai shall <br /> bo payable aQoa presaiiaao4 and susra�der thveof. Orners of t1.000.000 or more in pciaapa!aa�ount of Saia t98S Honds msp have <br /> incaest paid to tbem by wire �aasfa ot fnads '.ith rapea to aap iacaat paymeat of'u l�sc 53.000. as doaibed hada. <br /> Zb.Series 19S.i 80.ds.il!na w.toumor s teseral o►iipoo.oi eb.Gt�.r�.Seaa o!IIlisoi�o�a.!poL'eid sobdi.isio�tbenot.sod <br /> w�7!not.direettr ot isdirecrly.oWiSat�tbs GA.tbs Sbtt or aq poKtid sabditisio�t5erssf te le'sq focs ol tassoo�t�nef or to a�kt <br /> �7 �4P�'aPR+� !or d�ar P�rme�c esee'Pt fro� cd ao�ress dnQibai 6wei� • <br /> The Series t 98S Boeds ue offasd whea,as�d if i�ued�d reaeived bp t�e Reatarkaia;Agsa�subjea to aa unqnalified approving <br /> lega!opinion of C'2sapmaa and Cuda,Cbiago.Illinois,Bond Counsd.and to certsin other maditioro. Certaia lega!cesuters will be�ssed <br /> upoa for c!u Gcy by ics corpoca�ion eouasei.Hila�v C isadhdt Fsq..Deatnt.llliaoi:. Certain legal c�suas.riil bs pissed upon for cbe <br /> Remarimsin`Agene bp ia eonasd.Winuon�Stra.e,(�inga llli�ss. Cemia lega!maaas.�iU be pssted u�on for Tlte Sumicomo Sank. <br /> Limiced.Chingo Braneb.bp irs aouend,Is6an:.Linooln�Besla Chia�.IUi�ois.aad for Tba Sumicoaw Baal�l�aiced.b�►ics Japanese <br /> connsel,Nishi.Tanaka�Talnhashi.Tokyo.Japan. [t is e:peaed that the Saia l983 Boads in de5�cive forta wi11 be anilabia fot delivery <br /> in Ne. Yoric. Ner. Yorlc on oc aboue Aprii 29. 1985. ' <br /> - - - - Merrill Lpach Ca�i�al Mar�ets <br /> Aqrii 29. 1985 <br /> • +Serice Maric of MariIl Lynch � Ca. Iae. . <br />
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