81-57 AUTHORIZING THE EXECUTION AND DELIVERY OF A FIRST AMENDATORY LOAN AGREEMENT BETWEEN TOXIGENICS, INC. AND THE CITY OF DECATUR, ILLINOIS

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" �l61CROFILMF� :� ,, � . ; ORDINANCE NO. ��—� � AUTHORIZING THE EXECUTION AND DELIVERY OF A FIRST AMENDATORY LOAN AGREEMENT BETWEEN TOXIGENICS, INC . AND THE CITY OF DECATUR, ILLINOIS . WHEREAS , the City of Decatur, Illinois (the "City") is a municipal corporation and home rule unit under Section 6 (a) of Article VII of the 1970 Constitution of the State of Illinois, authorized and empowered by the provisions of Ordinance No. 5768 , as amended (the "Enabling Ordinance") , of said City to issue revenue bonds to finance in whole or in part the cost of the acquisition, construction, reconstruction , improvement or extension of any "economic development project" as defined in the Enabling Ordinance; and WHEREAS , pursuant to the Enabling Ordinance as then in effect the City did heretofore issue its Industrial Development Revenue Bonds (ToxiGenics , Inc. Project) Series 1979 , dated as of September 1, 1979 , under that Indenture of Trust (the "Indenture") , dated as of September 1 , 1979, between the City and The Northern Trust Company, as trustee (the "Trustee") to finance the acquisition and/or construction of certain land, structures, machinery and equipment (the "Project") described in Exhibit A to that certain Loan Agreement (the "Existing Loan Agreement") , dated as of September 1 , 1979, between the City and ToxiGenics, Inc. (the "Company"7 ; and WHEREAS , the City and the Company now desire to amend the description of the Project set forth in the Original Loan Agreement; and WHEREAS , there has been presented to the City a form of First Amendatory Loan Agreement considered necessary and desirable under the terms of Section 3 . 1 of the Original Loan Agreement and Section 12 .1 of the Indenture , along with a Certificate of the Authorized Company Representative and an opinion of bond Counsel responsive to the provisions of said Section 3 .1; NOW, THEREFORE , Be It Ordained by the Council of the City of Decatur, in Macon County, Illinois , as follows: Section 1 . That said form of First Amendatory Loan Agreement along with the aforesaid Certificate of Authorized Company Representative and opinion of bond Counsel be , and the same are hereby, received, placed on file and approved.