Laserfiche WebLink
WHEREAS, the Corporation has determined that a <br /> substantial reduction in the interest cost payable by the <br /> Municipality with respect to the Bonds and by the Corporation '', <br /> with respect to the Note will result if a bond insurance policy ', <br /> ( the "Bond Insurance Policy" ) is obtained from Bond Investors �', <br /> Guaranty Insurance Company {the "Bond Insurer" ) . - <br /> NOW, THEREFORE, BE IT ORDAINED by the Council of the <br /> City of Decatur, Macon County, Illinois, as follows: � , <br /> Section 1. That the Municipality is a home rule unit <br /> under the provisions of the 1970 Constitution of Illinois, and as <br /> a home rule unit may, under the powers granted by Section 6(a) of <br /> Article VII thereof, "exercise any power and perform any function <br /> pertaining to its qovernment and affairs. " That this ordinance <br /> is adopted pursuant to the Municipality' s home rule powers and in <br /> accordance with the Enabling Ordinance, any provisions contained <br /> in the Illinois Municipal Code to the contrary notwithstanding. <br /> Section 2. That the form, terms and provisions of the <br /> proposed Loan Agreement be, and they hereby are, in all respects <br /> approved, and that the Mayor and Clerk of the Municipality be, <br /> and they hereby are, authorized, empowered and directed to <br /> execute, acknowledge and deliver the Loan Agreement in the name <br /> and on behalf of the Municipality, and thereupon to cause the <br /> Loan Agreement to be delivered to the Corporation; that the Loan <br /> Agreement is to be in substantially the form of such Loan <br /> Agreement now before this meeting and hereby approved, or with <br /> -5- <br />