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87-137 PROVIDING FOR THE ISSUANCE OF CORPORATE PURPOSE BONDS, SERIES 1987
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87-137 PROVIDING FOR THE ISSUANCE OF CORPORATE PURPOSE BONDS, SERIES 1987
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8/25/2016 3:27:36 PM
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Resolution/Ordinance
Res Ord Num
87-137
Res Ord Title
PROVIDING FOR THE ISSUANCE OF $2,000,000 CORPORATE PURPOSE BONDS, SERIES 1987, OF THE CITY OF DECATUR...AND PROVIDING FOR THE LEVY AND COLLECTION OF A DIRECT ANNUAL TAX FOR THE PAYMENT OF THE PRINCIPAL OF AND INTEREST ON SAID BONDS
Approved Date
12/7/1987
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said years and in said County; and said County Clerk shall (to <br /> the extent said tax has not been abated as provided herein) <br /> extend the same for collection on the tax books in connection <br /> with any other taxes that may be levied in said years in and by <br /> the City for general corporate purposes of the City; and in said <br /> years such annual tax shall be levied and collected by and for <br /> and on behalf of the City in like manner as provided by law for <br /> the levy and collection of taxes for general corporate purposes <br /> for said years , without limit as to either rate or amount , and in <br /> addition to and in excess of all other taxes . <br /> Section 10. Sale of Bonds <br /> The Bonds shall be executed as in this Ordinance pro- <br /> vided as soon after the passage hereof as may be , shall be depos- <br /> ited with the City Treasurer , and shall be by the City Treasurer <br /> delivered to the purchasers thereof , namely, Magna-Millikin <br /> National Bank/Magna Trust Company, Decatur , Illinois , upon <br /> payment of the purchase price agreed upon, the same being not <br /> less than $2 , 000 , 000 plus accrued interest to �ate of delivery. <br /> The contract (bid form) for the sale of the Bonds to such <br /> purchasers , dated the date of this Ordinance , as presented to the <br /> Council with this Ordinance , is hereby in all respects approved <br /> and confirmed , it being hereby declared that no person holding <br /> any office of the City, either by election or appointment , is in <br /> any manner interested, either directly or indirectly, in his own <br /> name or the name of any other person, <br /> -19- <br />
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