2014-16 AUTHORIZING THE CITY TO BORROW FUNDS

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WHEREAS, the loan to the City of Decatur shall be made pursuant to Loan Agreement, including certain terms and conditions between the City of Decatur and the Illinois Environmental Protection Agency; NOW THEREFORE, be it ordained by the Corporate Authorities of th� City of Decatur, Macon County, Illinois, as follows: SECTION 1. INCORPORATION OF PREAMBLES The corporate Authorities hereby find that the recitals contained in a preambles are true and correct, and incorporate them into this Ordinance by this reference. SECTION 2. DETERMINATION TO BORROW FUNDS It is necessary and in the best interests of the City of Decatur to construct the Project for the public health, safety, and welfare, in accordance with the plans and (specifications, as described; that the System continues to be operated in accordance with thea provisions of the Illinois Environmental Protection Act, 415 ILCS 5/1 et seq.; and that fo the purpose of constructing the Project, it is hereby authorized that funds be borrowed by t�e City of Decatur in the aggregate principal amount (which can include construction period inte est financed over the term of the loan) not to exceed Two Million, Six Hundred Eight Thousan , Seven Hundred Dollars ($2,608,700.00). SECTION 3. ADDITIONAL ORDINANCES The Corporate Authorities may adopt additional ordinances or proceedings supplementing or amending this Ordinance, providing for entering into the Loan Agreement with the Illinois Environmental Protection Agency, prescribing all the details of the Loan Agreement, and providing for the collection, segregation and distribution o revenues of the System, so long as the maximum amount of the Loan Agreement as set forth in this Ordinance is not exceeded and there is no material change in the project or purposes escribed herein. Any additional ordinances or proceedings shall in all instances become effect ve in accordance with the Act or other applicable laws. This Ordinance, together with such add%reement nal ordinances he or proceedings, shall constitute complete authority for entering into tLoan under applicable law. However, notwithstanding the above, the City of Decatur may not adopt additional ordinances or amendments which provide for any substantive or material chi nge in the scope and intent of this Ordinance, including but not limited to interest rate, preference or priority of any other ordinance with this Ordinance, parity of any other ordinance with t is Ordinance, or otherwise alter or impair the obligation of the City of Decatur to pay the principal and interest due to the Water Pollution Control Loan Program without the written cons nt of the Illinois Environmental Protection Agency. 2