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82-66 PROVIDING FOR THE ISSUANCE BY THE CITY OF DECATUR OF ITS ECONOMIC DEVELOPMENT REVENUE BONDS (DECATUR DEVELOPMENT COMPANY PROJECT)
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82-66 PROVIDING FOR THE ISSUANCE BY THE CITY OF DECATUR OF ITS ECONOMIC DEVELOPMENT REVENUE BONDS (DECATUR DEVELOPMENT COMPANY PROJECT)
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9/15/2016 9:51:23 AM
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9/15/2016 9:51:22 AM
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Resolution/Ordinance
Res Ord Num
82-66
Res Ord Title
PROVIDING FOR THE ISSUANCE BY THE CITY OF DECATUR, ILLINOIS OF ITS ECONOMIC DEVELOPMENT REVENUE BONDS (DECATUR DEVELOPMENT COMPANY PROJECT)
Approved Date
6/14/1982
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Section 8. It is hereby found, determined and declared <br /> � by the City Council that the Mortgage and the Note provide that ', <br /> the amounts payable under the Mortgage and the Note are the amount <br /> necessary in each year to pay the principal of and interest on the <br /> Bonds and that the payments and other monetary obligations under- <br /> taken by the Mortgagor in the Mortgage and the Note are sufficient <br /> to satisfy the obligations required by the Enabling Ordinance to <br /> be undertaken by the Mortgagor. <br /> Section 9 . The form, terms and provisions of the proposed <br /> Indenture be, and they hereby are, in all respects approved, and <br /> the Mayor and the City Clerk be, and they are hereby authorized, <br /> empowered and directed to execute, acknowledge and deliver the <br /> Indenture in the name and on behalf of the Municipality to the <br /> Trustee therein named, and the Indenture shall constitute a lien <br /> on and an assignment of the amounts payable by the Mortgagor under <br /> the Note and the Mortgage. The Indenture, as executed and delivered, <br /> shall be in substantially the form now before this meeting and <br /> hereby approved, or with such changes therein as shall be approved <br /> by the officers of the Municipality executing the same, their <br /> execution thereof to constitute conclusive evidence of their <br /> approval of any and all changes or revisions therein from the form <br /> of Indenture now before this meeting; and from and after the <br /> execution and delivery of the Indenture, the officers, agents and <br /> employees of the Municipality are hereby authorized, empowered and <br /> directed to do all such acts and things and to execute all such <br /> documents as may be necessary to carry out and comply with the <br /> provisions of the Indenture as executed. <br /> -7- <br />
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