Laserfiche WebLink
. • ' <br /> intent thereof as shall be approved by such persons executing <br /> such document, their execution to constitute conclusive evidence <br /> of such approval. <br /> Section 3 . The authorized officials of the City are <br /> hereby empowered to execute and deliver all documents and other <br /> instruments which may be required under the terms of the First <br /> Supplemental Indenture and this ordinance. For purposes of this <br /> section "authorized officials of the City" shall mean the Mayor, <br /> City Clerk, Treasurer , Corporation Counsel and Director of <br /> Finance. <br /> Section 4. That the authorized officials of the City <br /> are hereby empowered to pay to Drexel Burnham Lambert Incorpor- <br /> ated 13� of the Residual remaining up to $836,771 after the pay- <br /> ment of the initial Bond Insurance Premium and 25� of the <br /> Residual remaining in excess of $836,771 after the payment of the <br /> initial Bond Insurance Pren�ium, and Drexel Burnham Lambert shall <br /> pay therefrom all of the costs incurred in connection with the <br /> release of moneys pursuant to such First Supplemental Indenture <br /> and that any remaining Residual shall be used for any lawful <br /> corporate purpose as determined by the Council. <br /> Section 5 . All ordinances , resolutions or orders , or <br /> parts thereof, in conflict with the provisions of this ordinance <br /> are to the extent of such conflict hereby repealed. <br /> Section 6 . This ordinance shall become effective <br /> immediately upon its adoption, approval and publication in <br /> pamphlet form. <br /> Presented, Passed, Approved a Recorded thi��!�°uay <br /> of October , 1986 . <br /> �. - ,l� <br /> M r City of Decatur , Macon <br /> C unty, Illinois <br /> Attest : <br /> . <br /> City Clerk <br /> -2- <br />