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79-124 AUTHORIZING THE ISSUANCE AND SALE OF $5,00,000 INDUSTRIAL DEVELOPMENT REVENUE BONDS
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79-124 AUTHORIZING THE ISSUANCE AND SALE OF $5,00,000 INDUSTRIAL DEVELOPMENT REVENUE BONDS
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9/28/2016 2:16:41 PM
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9/28/2016 2:16:40 PM
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Resolution/Ordinance
Res Ord Num
79-124
Res Ord Title
AUTHORIZING THE ISSUANCE AND SALE OF $5,000,000 INDUSTRIAL DEVELOPMENT REVENUE BONDS (TOXIGENICS, INC. PROJECT) SERIES 1979
Approved Date
10/1/1979
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� <br /> WHEREAS, a Loan Agre�ment, to be dated as of September 1, <br /> 1979 (the "Loan Agreement�') with respect to the Pro�eet will be <br /> executed by and between the Corhpany and the City, whereby the city <br /> will lend the proceeds of the �onds to the Company to finance <br /> costs of the Pro�ect and the Company will covenant and agree (i) <br /> to make loan repayments sufficlent to provide for the payment of <br /> principal of, premium, if any, land interest on the Bonds, as and <br /> when the same become due and pa�yable and (ii) to make such other <br /> payments and satisfy such otherl obligations as may be required by <br /> the Enabling Ordinance; and <br /> WHEREAS, the Bonds wi�l be issued under and pursuant <br /> to, and are to be secured by, a� Indenture of Trust, to� be dated <br /> as of September l, 1979 (the "I�denture") by and between the City <br /> and the trustee therein named, �,s Trustee; and <br /> WHEREAS, it is propos�d to sell the Bonds to Thornton, <br /> Farish & Gauntt, Inc . (the "Und�rwriter" ) , pursuant to a Bond ' <br /> Purchase Rgreement, to be dated the date hereof (the "Bond <br /> Purchase Agreement") , among the City, the Company, Whittaker <br /> Corporation, a California corpo�hation, and the Underwriter; <br /> NOW, THEREFORE, Be It Ordained by the Council of the <br /> City of Decatur, in Macon County�, Illinois, as follows : <br /> Section 1. That, in q�rder to finance the cost of the <br /> Pro�ect, the Bonds be and the salme are hereby authorized and <br /> ordered to be issued pursuant to the Indenture in substantially <br /> the form presented to and filed �rith the minutes of this meeting <br /> and containing substantially thelterms and provisions set forth <br /> therein, and the forms, terras an�l provisions of the Bonds and <br /> -2-I . <br />
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