92-71 AUTHORIZING AND DIRECTING THE CALL FOR REDEMPTION OF THE CITY'S GENERAL OBLIGATION REFUNDING BONDS, SERIES 1983

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. � ' ORDINANCE NO. 92-�1 AN ORDINANCE of the City of Decatur, Macon County, Illinois, authorizing and directing the call for redemption of the City's General Obligation Refunding Bonds, Series 1983. WHEREAS the City of Decatur, Macon County, Illinois (the "City"), has provided by Ordinance No. 83-46, duly adopted by the Council (the "Corporate Authorities") of the City on the 20th day of June, 1983 (the "Bond Ordireance"), for the issuance of its $12,760,000 original aggregate principal amount General Obligation Refunding Bonds, Series 1983, dated June 15, 1983, of which $9,300,000 bonds due on or after October 1, 1993, are out- standing (which bonds may be referred to as the "Series 1983 Bonds"); and WHEREAS the Series 1983 Bonds are subject to redemption, at the option of the City, on October 1, 1992, at the redemption price (expressed as a percentage of principal amount to be redeemed) of 102%, plus accrued interest to the date of redemption; and WHEREAS the City will provide for the payment of the Series 1983 Bonds, both principal, interest and redemption premium (as applicable), as provided herein, by applying certain funds on hand of the City lawfully available for such purpose; and WHEREAS in order to properly provide for the payment of the Series 1983 Bonds, it will be necessary to place such funds with LaSalle National Bank, Chicago, Illinois, as paying agent for the Series 1983 Bonds (the "Paying Agent"); and WHEREAS such funds will be used by the Paying Agent to pay all principal, interest and redemption premium on the Series 1983 Bonds when called for redemption; and WHEREAS it is necessary that the Corporate Authorities of the City authorize the calling for redemption of the Series 1983 Bonds; NOW TxE1tEFORE Be It Ordained by the Council of the City of Decatur, Macon County, Illinois, as follows: