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85-96 PROVIDING FOR THE FINANCING BY THE CITY OF DECATUR, ILLINOIS, OF AN INDUSTRIAL PROJECT IN ORDER THAT PERSHING DEVELOPMENT COMPANY MAY BE PROVIDED WITH FACILITIES TO ENCOURAGE DEVELOPMENT
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85-96 PROVIDING FOR THE FINANCING BY THE CITY OF DECATUR, ILLINOIS, OF AN INDUSTRIAL PROJECT IN ORDER THAT PERSHING DEVELOPMENT COMPANY MAY BE PROVIDED WITH FACILITIES TO ENCOURAGE DEVELOPMENT
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Last modified
8/29/2016 11:49:39 AM
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8/29/2016 11:49:36 AM
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Resolution/Ordinance
Res Ord Num
85-96
Res Ord Title
PROVIDING FOR THE FINANCING BY THE CITY OF DECATUR, ILLINOIS, OF AN INDUSTRIAL PROJECT IN ORDER THAT PERSHING DEVELOPMENT COMPANY, MAY BE PROVIDED WITH FACILITIES TO ENCOURAGE DEVELOPMENT OF THE CITY OF DECATUR...
Approved Date
12/23/1985
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� Issuer under the Loan Agreement, the Note, the riortgage , and any <br /> Lease Assignment to enforce payment thereof, and as evidence of <br /> such assignment and pledge and of the agreement of the Assignee <br /> to accept its responsibilities with respect to the Bond Fund <br /> created pursuant to Section 7 hereof, the Mayor is hereby <br /> authorized tv execute the Assignment for and on behalf of the <br /> Issuer and the City Clerk is hereby authorized to attest the same <br /> and to affix thereto the corporate seal of the Issuer, and the <br /> Mayor and City Clerk are authorized and directed to cause the <br /> Assignment to be presented to the Assignee for execution, with <br /> the Assignment to be in substantially the form which has been <br /> presented to and is hereby approved by the Mayor and City Council <br /> of the Issuer, including with such changes therein as the <br /> officers of the Issuer executing it shall approve, their approval <br /> thereof being conclusive of the Issuer ' s approval of any such <br /> changes therein from the form thereof now before the City <br /> Council. <br /> INVESTMENTS; ARBITRAGE <br /> Section 9. Any moneys held as part of the Acquisition <br /> and Construction Fund created pursuant to Section 5 hereof or as <br /> part of the Bond Fund created pursuant to Section 7 hereof, may <br /> be invested or reinvested on the direction of the Borrower in <br /> accordance with the provisions of Section 3. 10 of the Loan Agree- <br /> ment. Any such investment shall be held by or under control of <br /> the Assignee and shall be deemed at all times a part of the fund <br /> from which such investment was made and the interest accruing <br /> thereon and any profit realized from such investments shall be <br /> credited to such fund, and any loss resulting from such <br /> -26- <br />
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