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E. In order to use such allocation and issue recovery zone economic development <br /> bonds or recovery zone facility bonds, an issuer must first designate one or more "recovery <br /> zones," being areas (i) having significant poverty, unemployment, rate of home foreclosures or <br /> general distress, (ii) which have been designated by the issuer as economically distressed by <br /> reason of military base closure or realignment pursuant to the Defense Base Closure and <br /> Realignment Act of 1990, or (iii) which had been designated as an empowerment zone or a <br /> renewal community on the date the Stimulus Act was enacted. <br /> F. Pursuant to the Stimulus Act, the proceeds of recovery zone economic development <br /> bonds must be used for one or more "qualified economic development purposes," which <br /> purposes, as defined in the Stimulus Act, include expenditures for public infrastructure and <br /> construction of public facilities. <br /> G. The Secretary has awarded The County of Macon, Illinois (the "County"), an <br /> allocation of $3,469,000 for recovery zone economic development bonds and an allocation of <br /> $5,204,000 for recovery zone facility bonds. <br /> H. The Council (the "Council") of the City of Decatur, Macon County, Illinois (the <br /> 'City"), has investigated the facts to determine whether the stable economic and physical <br /> development of the City is endangered by the presence in the City of significant poverty, <br /> unemployment, rate of home foreclosures or general distress (being, generally, the "Recovery <br /> Zone Conditions"), with a resulting decline of the City which impairs the value of private <br /> investments and threatens the sound growth and the tax base of the City and the other taxing <br /> districts having the power to tax real property in the City (the "Taxing Districts") and threatens <br /> the health, safety, morals and welfare of the public. <br /> 1. The Council has determined, in order to promote and protect the health, safety, <br /> morals and welfare of the public, that such Recovery Zone Conditions need to be addressed and <br /> -2- <br />