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83-46 PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION REFUNDING BONDS, SERIES 1983
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83-46 PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION REFUNDING BONDS, SERIES 1983
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9/14/2016 9:08:57 AM
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9/14/2016 9:08:55 AM
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Resolution/Ordinance
Res Ord Num
83-46
Res Ord Title
PROVIDING FOR THE ISSUE OF $12,760,000 GENERAL OBLIGATION REFUNDING BONDS, SERIES 1983...AND FOR THE LEVY AND COLLECTION OF A DIRECT ANNUAL TAX SUFFICIENT TO PAY THE PRINCIPAL AND INTEREST ON SAID BONDS
Approved Date
6/20/1983
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. ` .�'.%'�; <br /> connection with other taxes levied in each of said years , <br /> respectively, in and by the City for general corporate purposes <br /> of the City, and in each of said years such annual tax shall be <br /> levied and collected by the City in like manner as taxes for <br /> general corporate purposes for each of said years are levied and <br /> collected and when collected , such taxes shall be used solely <br /> for the purpose of paying principal and interest upon the Bonds <br /> when same mature. <br /> Section 6 . That the funds derived from the levy be and <br /> the same are hereby appropriated and set aside for the sole and , <br /> only purpose of paying principal of and interest on the Bonds when ' <br /> ; <br /> and as same become due, and that simultaneously with the delivery ' <br /> of the Bonds , both the principal proceeds of the sale of the Bonds ! <br /> and the accrued interest thereon, together with such other legally I <br /> available funds of the City as may be necessary therefor, shall i <br /> be used either for payment of expenses of issuing the Bonds or II <br /> be deposited in escrow pursuant to an Escrow Agreement to be �I <br /> hereafter authorized by the Council for the purpose of paying <br /> principal of and interest on the Outstanding Bonds as such <br /> become due. <br /> That the City Treasurer of the City be and the same <br /> is hereby directed to prepare and file with the County Clerk of <br /> the County of Macon, Illinois, a Certificate of Reduction of <br /> Taxes Heretofore Levied for the Payment of Bonds showing the <br /> Outstanding Bonds refunded and directing the abatement of the <br /> taxes heretofore levied for the years 1983 to 1998 , inclusive, <br /> to pay the Outstanding Bonds . <br /> -14- <br />
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