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WHEREAS, the loan to the City shall be made pursuant to a Loan Agreement, including <br /> certain terms and conditions between the City and the Illinois 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 <br /> true 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 to construct the Project for the <br /> 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 <br /> of the 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 in the <br /> aggregate principal amount(which can include construction period interest financed over the <br /> term of the loan) not to exceed Sixteen Million, Five Hundred Thousand Dollars <br /> ($16,500,000.00). <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 <br /> with the Illinois Environmental Protection Agency,prescribing all the details of the Loan <br /> Agreement, and providing for the collection, segregation and distribution of the System, so <br /> long as the maximum amount of the Loan Agreement as set forth in this Ordinance is not <br /> exceeded and there is no material change in the project or purposes described herein. Any <br /> additional ordinances or proceedings shall in all instances become effective in accordance <br /> with the Act or other applicable laws. This Ordinance, together with such additional <br /> ordinances or proceedings, shall constitute complete authority for entering into the Loan <br /> Agreement under applicable law. <br /> However, notwithstanding the above, the City may not adopt additional ordinances or <br /> amendments which provide for any substantive or material change in the scope and intent of <br /> this Ordinance, including but not limited to interest rate,preference or priority of any other <br /> ordinance with this Ordinance,parity of any other ordinance with this Ordinance, or otherwise <br /> alter or impair the obligation of the City to pay the principal and interest due to the Water <br /> 2 <br />