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WxE�As the Council does hereby further determine that it is necessary and desirable that <br /> certain officials of the City be authorized to sell the Refunding Bonds and, accordingly, it is <br /> necessary that such officials be so authorized within certain parameters as hereinafter set forth; <br /> and <br /> WxEt�As the Council does hereby further determine that it is advisable and in the best <br /> interests of the City and its residents to undertake one or both of the following: (i) improve the <br /> Decatur Public Library and (ii) resurface and improve the Library parking lot (collectively, the <br /> "Project"),all in accordance with the preliminary estimate of costs,which have been approved by <br /> the Council and are now on file in the office of the City Clerk of the City (including the <br /> engineering, legal, financial and administrative expense related thereto); and <br /> WxE�As the estimated cost of the Project is not less than $2,300,000, and there are <br /> insufficient funds on hand and lawfully available to pay such costs; and <br /> WxE�As pursuant to the Act, the City is authorized to issue its general obligation bonds <br /> in an amount not to exceed $2,300,000 to pay the costs of the Project; and <br /> WxE�As the Council does hereby further determine that it is necessary and desirable to <br /> borrow not to exceed $2,300,000 at this time pursuant to the Act to pay the costs of the Project <br /> and, in evidence of such borrowing, issue its full faith and credit bonds in the principal amount of <br /> not to exceed $2,300,000 (the "Project Bonds"): <br /> Now TxE�Fo� Be It Ordained by the Council of the City of Decatur, Macon County, <br /> Illinois, in the exercise of its home rule powers and in accordance with the Enabling Ordinance,as <br /> follows: <br /> Section 1. Definitions. In addition to such other words and terms used and defined in <br /> this Ordinance, the following words and terms used in this Ordinance shall have the meanings <br /> given them, unless the context or use clearly indicates another or different meaning is intended. <br /> -3- <br />