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91-58 PROVIDING FOR THE ISSUE OF GENERAL OBLIGATION BONDS, SERIES 1991
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91-58 PROVIDING FOR THE ISSUE OF GENERAL OBLIGATION BONDS, SERIES 1991
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8/22/2016 2:16:19 PM
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8/22/2016 2:16:16 PM
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Resolution/Ordinance
Res Ord Num
91-58
Res Ord Title
PROVIDING FOR THE ISSUE OF GENERAL OBLIGATION BONDS, SERIES 1991,...AND FOR THE LEVY AND COLLECTION OF A DIRECTION ANNUAL TAX SUFFICIENT TO PAY THE COMPOUND ACCRETED VALUE OF, PRINCIPAL OF AND INTEREST ON SAID BONDS...
Approved Date
8/19/1991
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. <br /> of Decatur , Decatur, Illinois, or its successor as bond registrar <br /> and paying agent (the "Bond Registrar" ) , and shall be in de- <br /> nominations equal to the Original Principal Amounts of such <br /> Capital Appreciation Bonds or any integral multiple thereof, each <br /> such Original Principal Amount representing Compound Accreted <br /> Value at maturity of $5,000 or any integral multiple thereof (but <br /> no single Bond shall represent Compound Accreted Value maturing <br /> on more than one date) . As used herein, the "Compound Accreted <br /> Value" of a Capital Appreciation Bond on any date of determina- <br /> tion shall be an amount equal to the Original Principal Amount <br /> (or integral multiple thereof) plus an investment return accrued <br /> to the date of such determination at a semiannual compounding <br /> rate which is necessary to produce the yield to maturity borne by <br /> such Capital Appreciation Bond (the "Yield to Maturity" ) . The <br /> Capital Appreciation Bonds shall mature on October 1 of each of <br /> the years within the limitations set forth below. <br /> Any Bonds not issued as Capital Appreciation Bonds ( the <br /> "Current Interest Bonds" ) shall be dated September l, 1991, shall <br /> be in fully registered form, shall be in denominations of $5, 000 <br /> each and any integral multiple thereof (but no single Current <br /> Interest Bond shall represent installments of principal maturing <br /> on more than one date) , shall be numbered 1 and upward and shall <br /> mature on October 1 of each of the years within the limitations <br /> set forth below and in the amounts and bearing interest per annum <br /> as set forth in Exhibit B hereto. <br /> -3- <br />
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