HomeMy WebLinkAboutOrdinance #4512 - Providing for the Approval by the City of Canton, Fulton County, Illinois of the Execution and Delivery of Amendments to Bond and Loan Agreements and Bonds in Connection with the Outstanding Health Care Facilities Revenue Bond STATE OF ILLINOIS)
) SS.
COUNTY OF FULTON)
CERTIFICATE
I, Andi Smith-Walters, certify that I am the duly elected City Clerk of
the CITY OF CANTON, FULTON COUNTY, ILLINOIS.
I further certify that on November 4. 2025. the City Council of such
municipality passed and approved Ordinance #4512 entitled:
AN ORDINANCE PROVIDING FOR THE APPROVAL BY THE CITY OF
CANTON, FULTON COUNTY, ILLINOIS OF THE EXECUTION AND
DELIVERY OF AMENDMENTS TO BOND AND LOAN AGREEMENTS AND
BONDS IN CONNECTION WITH THE OUTSTANDING HEALTH CARE
FACILITIES REVENUE BOND, SERIES 2015A (GRAHAM HOSPITAL
ASSOCIATION PROJECT) AND HEALTH CARE FACILITIES REVENUE
BOND, SERIES 2015B (GRAHAM HOSPITAL ASSOCIATION PROJECT);
AND RELATED MATTERS.
The ordinance attached is a true and correct copy of the ordinance adopted by Canton
City Council.
DATED AT CANTON, ILLINOIS, THIS 4th DAY OF NOVEMBER, 2025
Seal
di Smith-Walters, City Clerk
ity of Canton, Illinois
ORDINANCE NO. 4512
AN ORDINANCE PROVIDING FOR THE APPROVAL BY THE CITY OF
CANTON, FULTON COUNTY, ILLINOIS OF THE EXECUTION AND
DELIVERY OF AMENDMENTS TO BOND AND LOAN AGREEMENTS AND
BONDS IN CONNECTION WITH THE OUTSTANDING HEALTH CARE
FACILITIES REVENUE BOND, SERIES 2015A (GRAHAM HOSPITAL
ASSOCIATION PROJECT) AND HEALTH CARE FACILITIES REVENUE
BOND, SERIES 2015B (GRAHAM HOSPITAL ASSOCIATION PROJECT);
AND RELATED MATTERS.
WHEREAS, the City of Canton, Fulton County, Illinois (the "City"), a municipality duly
organized and validly existing under the Constitution and laws of the State of Illinois,and by virtue
of the Constitution and laws of the State of Illinois,including The Industrial Project Revenue Bond
Act, 65 ILCS 5/11-74-1 et seq., as supplemented and amended, including by the Illinois Bond
Replacement Act, the Registered Bond Act, the Bond Authorization Act and the Local
Government Debt Reform Act (collectively, the "Act"), is authorized and empowered, among
other things: (a) to provide funds for the acquisition of privately owned industrial facilities,
including health care facilities, (b) to issue its revenue bonds for the purposes set forth herein, (c)
to secure such revenue bonds by a pledge and assignment of revenues and other available funds
and other documents, as provided for herein, and (d) to enact this Ordinance and execute the
Amendments, as hereinafter identified, and all other documents to be executed by it, upon the
terms and conditions provided therein; and
WHEREAS, the City, on October 20, 2015, adopted a resolution authorizing the issuance
and delivery of its $21,785,000 original principal amount Health Care Facilities Revenue Bond,
Series 2015A (Graham Hospital Association Project) and $26,755,000 original principal amount
Health Care Facilities Revenue Bond, Series 2015B (Graham Hospital Association Project)
(together, the "Bonds"); and
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WHEREAS,the Bonds were issued pursuant to Bond and Loan Agreements,each dated as
of November 1, 2015, among the City, Graham Hospital Association, an Illinois not-for-profit
corporation (the "Borrower"), and BMO Harris Bank N.A., a national banking association (the
"Original Purchaser"), as previously amended (collectively, the "Bond and Loan Agreements");
and
WHEREAS, the Borrower has requested the City and BMO Harris Investment Company
LLC, a Nevada limited liability company,as assignee of the Original Purchaser(the"Purchaser"),
amend certain provisions of the Bond and Loan Agreements in order to provide for certain
amendments relating to the Purchase Date (as defined in the Amendments) and the interest rate
borne by the Bonds and make certain other changes; and
WHEREAS, it is necessary and proper for the interests and convenience of the City to
authorize such amendments to the Bond and Loan Agreements; and
WHEREAS, the City has caused to be prepared and presented to this meeting drafts of the
amendments to Bond and Loan Agreements and the amended Bonds, each to be dated as of
November 5, 2025 (the "Amendments"), among the City,the Borrower, and the Purchaser, which
the City proposes to enter into and which amend the Bond and Loan Agreements and the Bonds;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
CANTON, FULTON COUNTY, ILLINOIS, AS FOLLOWS:
Section 1. That the form, terms, and provisions of the proposed Amendments be, and
the same hereby are, in all respects approved, and that the Mayor and the City Clerk be, and they
are hereby authorized, empowered, and directed to execute and deliver such instruments in the
name and on behalf of the City,and to cause the Amendments to be delivered to the Borrower and
the Purchaser. The Amendments are to be in substantially the forms attached to this Ordinance
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and are hereby approved, and the Mayor and City Clerk are hereby authorized to make changes to
the Amendments as are consistent with this Ordinance. The execution of any and all documents
related to the Amendments, and the Bonds by officials of the City shall constitute conclusive
evidence of the City's approval of any and all changes or revisions therein from the form of the
Amendments hereby approved; and that from and after the execution and delivery of such
instruments,the officials,agents and employees of the City are hereby authorized, empowered and
directed to do all such acts and things and to execute all such documents as may be necessary to
carry out and comply with the provisions of such instruments as executed. The Amendments shall
constitute and are hereby made a part of this Ordinance and copies of such document shall be
placed in the official records of the City, and shall be made available for public inspection.
Section 2. That from and after the execution and delivery of the Amendments, the
proper officials,agents,and employees of the City are hereby authorized,empowered,and directed
to do all such acts and things and to execute all such documents as may be necessary to carry out
and comply with the provisions of said documents as executed and to further the purposes and
intent of this Ordinance, including the preamble hereto. The Mayor and the City Clerk be, and
they are each hereby, further authorized and directed for and on behalf of the City, to execute all
papers, documents, certificates, the Amendments, and other instruments that may be required for
the carrying out of the authority conferred by this Ordinance or to evidence said authority,
including without limitation the execution and delivery of a document setting forth the agreement
and certification of the parties thereto relating to certain federal tax matters and changes in the
documents approved hereby as approved by the officials of the City executing the same, and to
exercise and otherwise take all necessary action to the full realization of the rights,
accomplishments and purposes of the City under the Amendments and to discharge all of the
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obligations of the City thereunder. For purposes of certifying to matters of arbitrage, the Mayor
is hereby designated an officer responsible for issuing the Bonds.
Section 3. That all acts and doings of the officials of the City which are in conformity
with the purposes and intent of this Ordinance and in furtherance of the amendment of the Bonds
be, and the same hereby are, in all respects, approved and confirmed.
Section 4. That the provisions of this Ordinance are hereby declared to be separable,
and if any section, phrase, or provision shall, for any reason, be declared to be invalid, such
declaration shall not affect the validity of the remainder of the sections, phrases, or provisions.
Section 5. That all ordinances, resolutions, orders, or parts thereof in conflict with the
provisions of this Ordinance ("Conflicting Council Actions") are to be read as authorizing this
Ordinance. To the extent such a reading is not possible,all Conflicting Council Actions are hereby
superseded and repealed to the extent of such conflict.
Section 6. This Ordinance shall be in full force and effect from and after its passage
and approval, in accordance with law.
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PASSED this 4th day of November, 2025.
APPROVED this 4th day of November, 2025.
AYES: Alderpersons Chamberlin, Lovell, Hale, Pickel, Ketcham, Gossett
NAYS: None
ABSENT: Alderpersons Grimm,Nelson
14� i- /v
M yor
' V . V
ATTEST:
i�Clerk
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