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RESOLUTION NO. KZ -Q d— I-7—1 <br /> RESOLUTION AUTHORIZING CITY OF DECATUR TO ENTER INTO AN <br /> AGREEMENT FOR DEBT FINANCING OF PIERCE FIRE APPARATUS <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DECATUR, <br /> ILLINOIS: <br /> Section 1. That the City of Decatur desires to enter into a debt financing arrangement for <br /> the acquisition of a new Pierce fire apparatus with a not to exceed principal amount of <br /> $1,050,000, at a not to exceed interest rate of 3.5%, for a financing term not to exceed eight(8) <br /> years. <br /> Section 2. That the City Council hereby authorizes the City Manager the authority <br /> to enter into the debt financing arrangement at the not to exceed levels as defined in Section 1. <br /> PRESENTED and ADOPTED this 7th day of December, 2020. <br /> f� <br /> Juli oore Wolf ,MAYOR <br /> ATTEST: <br /> CITY CLERK <br />