Laserfiche WebLink
r <br /> 1 <br /> ti <br /> its full faith and credit bonds in the aggregate principal amount of $3,042,400, all as authorized <br /> under the hereinafter defined Act; and <br /> WxEUEAs, the Corporate Authorities have considered and approved public capital <br /> infrastructure improvement plans for the City pursuant to which the City will undertake the <br /> construction, acquisition and installation of public improvements and equipment, including but <br /> not limited to improving the public capital infrastructure of West Main Street and N. Water <br /> Street for the Olde Towne Redevelopment Area, building a public courtyard for the Olde Town <br /> Redevelopment Area and improving the waterworks system of the City (the foregoing capital <br /> improvement projects being hereinafter referred to as the "2008 Public Capital Improvement <br /> Projects"); and <br /> WHEREAS, the cost of the 2008 Public Capital Improvement Projects, together with such <br /> engineering, electrical, financial, legal and other professional services related thereto as may be <br /> advisable and necessary, is not less than $6,957,600 plus investment earnings thereon; and <br /> W�REAs, there are insufficient funds on hand and available to pay the costs of the 2008 <br /> Public Capital Improvement Projects, and it is necessary that the City borrow to pay the same <br /> and in evidence thereof issue its full faith and credit bonds in the aggregate principal amount of <br /> $6,957,600, all as authorized under the hereinafter defined Act; and <br /> WHExEAs, the Corporate Authorities have heretofore, and it hereby is, determined that it <br /> is advisable and necessary and in the best interests of the City that the City issue one series of <br /> general obligation full faith and credit bonds in the aggregate principal amount of$10,000,000 to <br /> pay the costs of the Refunding and of the 2008 Public Capital Improvement Projects: <br /> NOw THE�Fo1� Be It Ordained by the Council of the City of Decatur, Macon County, <br /> Illinois, in the exercise of its home rule powers and in accordance with the Enabling Ordinance, <br /> as follows: <br /> -3- <br /> , <br />