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7201 AUTHORIZING THE FINANCING OF POLLUTION CONTROL FACILITIES (POLLUTION CONTROL REVENUE BONDS, SERIES 1976)
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7201 AUTHORIZING THE FINANCING OF POLLUTION CONTROL FACILITIES (POLLUTION CONTROL REVENUE BONDS, SERIES 1976)
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Last modified
10/7/2016 9:39:37 AM
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10/7/2016 9:39:37 AM
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Resolution/Ordinance
Res Ord Num
7201
Res Ord Title
AUTHORIZING THE FINANCING OF POLLUTION CONTROL FACILITIES AND RELATED PROPERTY CONSTITUTING A "PROJECT" WITHIN THE MEANING OF ORDINANCE NO. 5768; AUTHORIZING THE ISSUANCE OF $2,800,000 POLLUTION CONTROL REVENUE BONDS, SERIES 1976 (STALEY PROJECT)...
Approved Date
12/13/1976
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�,�; . . M►GR�F7L�Ed <br /> ORDINANCE NO. �� � � <br /> AN ORDINANCE AUTHORIZING THE FINANCING OF POLLUTION <br /> CONTROL FACILITIES AND RELATED PROPERTY CONSTITUTING <br /> A "PROJECT" WITHIN THE MEANING OF ORDINANCE NO. 5768, <br /> AS AMENDED; AUTHORIZING THE ISSUANCE OF $2,800,000 <br /> POLLUTION CONTROL REVENUE BONDS, SERIES 1976 (STALEY <br /> PROJECT) , IN CONNECTION THEREWITH; AUTHORIZING THE <br /> EXECUTION AND DELIVERY OF A LOAN AGREEMENT BETWEEN <br /> THE CITY OF DECATUR, MACON COUNTY, ILLINOIS AND A. E . <br /> STALEY MANUFACTURING COMPANY; AUTHORIZING THE <br /> EXECUTION AND DELIVERY OF AN INDENTURE OF TRUST <br /> SECURING SAID BONDS; AND AUTHORIZING THE EXECUTION <br /> OF AN AGENCY AGREEMENT PROVIDING FOR THE SALE OF SAID <br /> BONDS, THE DELIVERY OF A PLACEMENT MEMORANDUM IN <br /> CONNECTION THEREWITH, AND RELATED MATTERS . <br /> WHEREAS, pursuant to Ordinance No. 5768 duly adopted by the Council <br /> of the City of Decatur, Macon County, Illinois (hereinafter referred to as the "Issuer") <br /> on February 5, 1973, as amended by various ordinances (collectively the "Enabling <br /> Ordinance") , the Issuer is authorized to issue its revenue bonds to defray in whole <br /> or in part the costs of any "project, " as defined in the Enabling Ordinance for the <br /> purpose set forth therein; and <br /> WHEREAS, as a result of negotiations between the Issuer and A. E . Staley <br /> Manufacturing Company (hereinafter sometimes referred to as the "Company") , <br /> and in reliance upon a Memorandum of Agreement between the Issuer and the Company <br /> dated February 26, 1973, as amended, the Company has entered into contracts for <br /> the acquisition, construction and installation of certain pollution control facilities <br /> (hereinafter referred to as the "Project") , which constitute a "pollution control <br /> facility" within the meaning of the Enabling Ordinance and which will be of the <br /> character and accomplish the purposes provided by the Enabling Ordinance, and <br /> the Issuer is willing to issue its revenue bonds to finance the cost of the Project <br /> and to enter into a loan agreement with the Company upon terms which will produce <br /> revenues and receipts sufficient to provide for the prompt payment at maturity of <br />
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