83-47 AUTHORIZING AND DIRECTING THE EXECUTION OF AN ESCROW AGREEMENT

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� � . a��p��-�'�.� ' ` , ��a� � PRELII4INARY OFFICIAL STATEMENT CITY OF DECATQR, ILLINOIS $13,300,000* General Obligation Refunding Bonds Series 1983 Introduction The purpose of this Official Statement is to set forth certain information in connection with the sale of $13,300,000* principal amount of the City of Decatur, Macon County, Illinois (the "City"), General Obligation Refunding Bonds, Series 1983 (the "Bonds"). The Bonds are direct general obligations of the City, and the fu1Z faith and credit of the City is pledged for the punctual payment of principal of and interest on the. Bonds. At the time of sale of the Bonds, taxes will be duly levied sufficient for payment of principal of and interest on the Bonds. Certain factors that may affect an investment decision concerning the Bonds are described throughout this Official Statement. Persons considering a purchase of the Bonds should read this Official Statement in its entiretq. Yair M. Babad, Ph.D., Certified Public Accountant , will certify that cash and/or securities, which are direct obligations of the United States, placed in escrow will be sufficient to meet the principal and interest required on the outstanding bonds to be advance refunded and that such obligations do not constitute arbitrage obligations pursuant to current Internal Revenue Service regulations. , , Illinois will act as escrow agent for the refunding trust. IN THE OPINION OF BOND COUNSEL, THE BONDS ARE FULL FAITH AND CREDIT GENERAL OBLIGATIONS OF THE CITY PAYABLE FROM AD VALOREM TAXES TO BE LEVIED ON ALL TAXABLE PROPERTIES WITHIN THE BOUNDARIES OF TIiE CITY WITHOUT LZMITATION AS TO , RATE OR AMOUNT. I OPTIONAL REDEMPTION Bonds maturing January 1, 1994 and thereafter are subject to redemption prior to maturity at the option of the City on any interest payment date on or after January 1, 1993, in whole or in part in inverse order of maturity (and by lot if less than all Bonds of any one maturity are redeemed) at the redemption prices (expressed as a percentage of the principal amount of Bonds being redeemed) set forth below. Date of Redemption Redemption Price January I, 1993 through December 31, 1993 102y January 1 , 1994 through December 31 , 1994 101.5X January 1, 1995 through December 31, 1995 101y January l, 1996 through December. 31 , 1996 100.5� January 1, 1997 through December 31, 1999 100y Notice of redemption shall be given by publication at least twice not less than thirty days nor more than sixty days before the redem ption date in a 1