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WHEREAS, the loan to the City of Decatur shall be made pursuant to a Loan <br /> Agreement, including certain terms and conditions between the City of Decatur and the Illinois <br /> Environmental Protection Agency; <br /> NOW THEREFORE, be it ordained by the Corporate Authorities of the City of <br /> Decatur, Macon County, Illinois, as follows: <br /> SECTION 1. INCORPORATION OF PREAMBLES <br /> The corporate Authorities hereby find that the recitals contained in the preambles are true <br /> and correct, and incorporate them into this Ordinance by this reference. <br /> SECTION 2. DETERMINATION TO BORROW FUNDS <br /> It is necessary and in the best interests of the City of Decatur to construct the Project for <br /> the public health, safety, and welfare, in accordance with the plans and specifications, as <br /> described; that the System continues to be operated in accordance with the provisions of the <br /> Illinois Environmental Protection Act, 415 ILCS 5/1 et seq.; and that for the purpose of <br /> constructing the Project, it is hereby authorized that funds be borrowed by the City of Decatur in <br /> the aggregate principal amount (which can include construction period interest financed over the <br /> term of the loan)not to exceed Twenty One Million Dollars ($21,000,000.00). <br /> SECTION 3. ADDITIONAL ORDINANCES <br /> The Corporate Authorities may adopt additional ordinances or proceedings <br /> supplementing or amending this Ordinance, providing for entering into the Loan Agreement with <br /> the Illinois Environmental Protection Agency, prescribing all the details of the Loan Agreement, <br /> and providing for the collection, segregation and distribution of revenues of the System, so long <br /> as the maximum amount of the Loan Agreement as set forth in this Ordinance is not exceeded <br /> and there is no material change in the project or purposes described herein. Any additional <br /> ordinances or proceedings shall in all instances become effective in accordance with the Act or <br /> other applicable laws. This Ordinance, together with such additional ordinances or proceedings, <br /> shall constitute complete authority for entering into the Loan Agreement under applicable law. <br /> However, notwithstanding the above, the City of Decatur may not adopt additional <br /> ordinances or amendments which provide for any substantive or material change in the scope and <br /> intent of this Ordinance, including but not limited to interest rate, preference or priority of any <br /> other ordinance with this Ordinance, parity of any other ordinance with this Ordinance, or <br /> otherwise alter or impair the obligation of the City of Decatur to pay the principal and interest <br /> due to the Water Pollution Control Loan Program without the written consent of the Illinois <br /> Environmental Protection Agency. <br /> 2 <br />