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83-47 AUTHORIZING AND DIRECTING THE EXECUTION OF AN ESCROW AGREEMENT
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83-47 AUTHORIZING AND DIRECTING THE EXECUTION OF AN ESCROW AGREEMENT
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Last modified
9/14/2016 9:06:51 AM
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9/14/2016 9:06:47 AM
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Resolution/Ordinance
Res Ord Num
83-47
Res Ord Title
AUTHORIZING AND DIRECTING THE EXECUTION OF AN ESCROW AGREEMENT IN CONNECTION WITH THE ISSUE OF $12,760,000 GENERAL OBLIGATION REFUNDING BONDS, SERIES 1983, OF THE CITY OF DECATUR, MACON COUNTY, ILLINOIS
Approved Date
6/20/1983
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j fi', <br /> . `d�J���(' .>j-r. <br /> Section 2. 02. The Municipality has deposited with the <br /> Escrow Agent at the execution and delivery of this Escrow A�reement <br /> the sum of $12,219,256.34 derived from Bond proceeds and the sum <br /> of $ derived from funds of the Municipality and lawfully <br /> available for such purpose for the purchase on July 8, 1983, of <br /> the Escrow SLG's and the funding of a beginning cash balance of <br /> $303.32. On June 30, 1983, the Escrow Agent shall invest the <br /> money deposited hereunder in obligations guaranteed by the full <br /> faith and credit of the United States of America as to principal <br /> and interest (United States Treasury Bills ) maturing on July 7, <br /> 1983, in the principal amount of $12,907,000, or� as near thereto <br /> as possible as permitted by the authorized denominations of such <br /> obligations . Any money not so invested shall be held in cash. <br /> On July 8, 1983, the Escrow Agent will purchase Escrow SLG 's and <br /> hold a beginning cash balance described as follows : <br /> EA4 I <br />
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