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<br /> ' ORDINANCE N0. 83-47
<br /> AN ORDINANCE authorizing and directing
<br /> the execution of an Escrow Agreement
<br /> in connection with the issue of $12,760,000
<br /> General Obligation Refunding Bonds , Series
<br /> 1983, of the City of Decatur, Macon County,
<br /> Illinois.
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<br /> WHEREAS, the City of Decatur, Macon County, Illinois
<br /> (the "Municipality" ) , has provided by Ordinance No. 83-46 , '
<br /> adopted by the Council of the Municipality (the "Corporate
<br /> Authorities" ) on June 20, 1983, for the issuance of $12,760,000
<br />' General Obligation Refunding Bonds, Series 1983, dated June 15,
<br /> 1983 �the "Bonds" ) ; and
<br /> WHEREAS, the proceeds of the Bonds will be used, along
<br /> with certain funds on hand of the Municipality lawfully available
<br /> for such purpose, to refund in advance of maturity certain bonds
<br /> of the Municipality described as follows :
<br /> $10,750,000 original issue General Obligation
<br /> Surface Water Drainage System Bonds , Series of
<br /> - 1982, dated March 1, 1982, of which $10,750,000
<br /> are currently outstanding, of the denomi.nation
<br /> � of $5,000 each, due serially on January 1 of
<br /> the years and in the amounts and bearing
<br /> interest at the rates per annum, as follows :
<br /> Years Amount Rate of Interest
<br /> 1991 $ 615,000 11 .25%
<br /> 1992 685,000 11 .50�
<br /> 1993 760,000 11 .75�
<br /> 1994 850,000 12.00%
<br /> 1'995 950,000 12. 25�
<br /> 1996 1 ,070,000 12.50�
<br /> 1997 1 ,205,000 12. 75�
<br /> 1998 1 ,355 ,00o i3.0o%
<br /> 1999 1 ,530, 000 13. 00�
<br /> 2000 1 ,730 ,000 13.00�
<br /> (the "Prior Bonds" ) ; and
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