Laserfiche WebLink
_ ..' <br /> ORDINANCE N0. 91- �3 <br /> AN ORDINANCE authorizing and approving the <br /> issuance and sale of not to exceed $2, 100, 000 <br /> City of Decatur, Macon County, Ill�inois <br /> Revenue Bonds, Millikin University, Series <br /> 1991 ( the "Series 1991 Bonds" ) , of the City <br /> of Decatur, Macon County, Illinois (the <br /> "City" ) , for the purpose of (i ) financing, <br /> refinancing or reimbursing Millikin <br /> University, an Illinois not for profit <br /> corporation ( the "Corporation" ) , for all or a <br /> portion of the costs of constructing and <br /> equipping two dormitories for use by its <br /> students, ( ii ) establishing a debt service � <br /> reserve fund and ( iii ) paying certain costs <br /> incurred in connection with the issuance of <br /> the Series 1991 Bonds; authorizing and <br /> approving the execution and delivery of an <br /> Official Statement pertaining to the Series <br /> 1991 Bonds, a Trust Indenture dated as of <br /> May 1, 1991 between the City and Magna Trust <br /> Company, Belleville, Illinois, as trustee <br /> ( the "Trustee" ) , a Loan Agreement, Mortgage <br /> and Security Agreement dated as of May 1, <br /> 1991 {the "Mortgage" ) between the City and . <br /> the Corporation, a Tax Exemption Agreement <br /> � and Certificate among the City, the <br /> Corporation and the Trustee, and a Bond <br /> Purchase Agreement among the City, the <br /> Corporation and First Chicago Capital <br /> Markets, Inc. , as underwriter ; approving the <br /> execution and delivery of the First Mortgage <br /> Note, Series 1991 , of the Corporation under <br /> and pursuant to the Mortgage; approving the <br /> issuance and delivery of a Bond Insurance <br /> Policy by AMBAC Indemnity Corporation; and <br /> authorizing and approving certain related <br /> matters. <br /> WHEREAS, the City of Decatur , Macon County, Illinois <br /> ( the "City" ) , is a duly constituted and existing muni�ipality and <br /> a home rule unit within the meaning of Section 6 (a) , Article VII <br /> of the Constitution of the State of Illinois; and <br />