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6095 PROVIDING FOR THE ACQUISITION BY THE CITY OF AN INDUSTRIAL PROJECT WITHIN THE CITY (DEBRON PROJECT)
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6095 PROVIDING FOR THE ACQUISITION BY THE CITY OF AN INDUSTRIAL PROJECT WITHIN THE CITY (DEBRON PROJECT)
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10/10/2016 4:33:12 PM
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Resolution/Ordinance
Res Ord Num
6095
Res Ord Title
PROVIDING FOR THE ACQUISITION BY THE CITY OF AN INDUSTRIAL PROJECT WITHIN THE CITY AND THE LEASING OF THE SAME TO AN INDUSTRIAL CONCERN ... $1,000,000 PRINCIPAL AMOUNT OF INDUSTRIAL PROJECT REVENUE BONDS (DEBRON PROJECT)
Approved Date
6/23/1975
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9 <br /> Section 12. The sale of the bonds to The Citizens National <br /> Bank of Decatur, of Decatur, Illinois, at a purcha se price equal <br /> to I00% of the principal amount thereof plus accrued interest <br /> to the date of deli�ery, if any, is hereby approved, ratified and <br /> confirmed and determined to be most advantageous to the interests <br /> of the City. <br /> Section 13. The Mayor and City Clerk for and on behalf of <br /> the City are hereby each authorized and directed to do any and all <br /> things necessaYy to effect the execution and delivery of the Lease <br /> Agreement and the Trust Indenture, and the acceptance thereof by the <br /> Company and the Trustee, respectively, the performance of a11 obli- <br /> gations of the City under and parsuant to the Lease Agreement and the <br /> Indenture and the execution and delivery of the bonds; and the Trustee <br /> is he reby auth orized to receive and receipt for the proceeds of the <br /> bonds on behalf of the City and to hold, invest and disburse said pro- <br /> ceeds in accordance with the provisions of the Indenture. Al1 provi- <br /> sions of the Indenture, including those with respect to the acquisi- <br /> tion and construction of the project, the issuance, delivery and re- <br /> ceipt of the proceeds of the bonds and the receipt, custody, in�estment <br /> and application of the proceeds of said bonds and the income, rentals <br /> and other revenues to be derived from the project, are he reby in all re- <br /> spects adopted, ratified and confirmed for and on behalf of the City. <br />
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