Laserfiche WebLink
� • <br /> 12/15/83 <br /> "Indenture" means the In�enture of Trust, dated as of <br /> the 3ate of the Bonds , by an� between the Issuer and Trustee. <br /> "Issuer" means the City of Decatur , Illinois an� its <br /> successors and assigns. <br /> "Note" means the promissory note provided for in the <br /> Agreement whereby the Company promises to make installment <br /> payments on the Note in satisfaction of the Company's debt to <br /> the Issuer under the Aqreement. <br /> "Ordinance" means this Ordinance . <br /> "Project" means the buildinq and related equipment and <br /> facilities which are to be acquire� and constructed by the <br /> Company in part with the monies receive� under the Agreement. <br /> "Trustee" means The Citizens Trust Company, Sheboygan , <br /> Wisconsin , an3 its successors in trust. <br /> AUTHORIZATI7N OF THE PROJECT <br /> Section 2. In or�er to promote the general welfare of <br /> the City o Decatur , Illinois and its inhabitants by relieving <br /> con�3itions of unemployment an� encouraging the increase of <br /> in3ustry, the Project shall be and is hereby authorized to be <br /> financed as �escribe3 herein. The estimate� cost of the <br /> acquisition , construction and development of the Project is not <br /> less than One Million Seven Hun�re� Thousand Dollars <br /> (51 ,700 ,000.00) which amount will be provided by the issuance , <br /> of the Bonds hereinafter authorized an� the loan of the ' <br /> proceeds thereof to the Company. It is hereby foun3 and <br /> 3eclare� that the financing of the Project is necessary to <br /> accomplish the public purposes describe3 in the preamble hereto. <br /> AUTHORI2ATION AND PAYMENT OF BONDS <br /> Section 3. For the purpose of financing the cost of <br /> the Project t ere is hereby authorize� to be issued by the <br /> Issuer its In�ustrial Development Revenue Bonds (Executive <br /> Development Co. Project) , in the principal amount of One <br /> Million Seven Hundred Thousand Dollars (51 ,700 ,000.00) . The <br /> Bonds shall be issued in the forms and denominations set forth <br /> in the Indenture; shall be dated as of December 30, 1983 an� <br /> shall be numbered as provi�ed in the Indenture. The Bon�s <br /> shall bear interest on the unpai� principal amount thereof at <br /> the rate and shall mature as set forth in the In�enture. <br /> Overdue installments of principal or (to the extent permitted <br /> -3- <br />