79-06 AUTHORIZING THE ISSUANCE OF $15,000,000 SINGLE FAMILY MORTGAGE REVENUE BONDS, 1979 SERIES A

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� as approved by this ordinance, relating to the purchase of the Bonds. "Representative" sha11 mean L. F. Rothschild, Unterberg, Towbin in its capacity as the representative of a group of underwriters. "Sale and Service Agreement" shall mean the Sale and Service Agreement dated as of January 1 , 1979 between the City and the Lending Institution, as approved by this ordinance , and as the same may be amended from time to time. "Trustee" shall mean First Wisconsin Trust Company and any successor acting as such under the Indenture. Section 2 . Pursuant to the Act, the City does hereby authorize the financing of the acquisition of the Mortgage Loans in accordance with the terms of the Sale and Service Agreement and does hereby find and declare that this ordinance is being enacted pursuant to the powers granted by the Act and that the issuance of the bonds is for the public purposes as set forth in the Act. Section 3 . To provide for the financing of the cost of the acquisition of the Mortgage Loans , the City does hereby authorize the issuance of revenue bonds of the City under the Act , to be designated "CITY OF DECATUR , Macon County, Illinois , Single Family Mortgage Revenue Bonds, 1979 Series A" in the aggregate principal amount of up to $15 ,000,000. The Bonds shall be issued in the forms and denominations set forth in the Indenture; shall be dated , except as otherwise provided in the Indenture , January 1 , 1979 ; shall be numbered as provided in the Indenture; shall mature as set forth in Schedule I hereto, which by this reference is incorporated herein; shall bear interest payable semiannually at rates set forth in Schedule I hereto, shall be subject to redemption prior to maturity upon the terms and conditions set forth in the Indenture; and shall be sold to the underwriters at a price of not less than �� of the aggregate principal amount thereof plus accrued interest thereon from January 1 , 1979, to the Closing Date (as defined in the Purchase Contract) . Section 4 . The Bonds shall be limited obligations of the City and, except to the extent payable from Bond proceeds , certain insurance proceeds or moneys from the investment thereof, shall be payable solely from the revenues and receipts and other amounts received by or on behalf of the City pursuant to the Sale and Service Agreement. The Bonds and interest thereon shall not be deemed to constitute a debt or liability of the City, the State of Illinois or any political subdivision thereof, and their issuance shall not , directly or indireetly or contingently, obligate the City or any political subdivision thereof to levy any form of taxation therefor or to make any appropriation for -3-