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R , c <br /> , <br /> including, without limitation, public capital infrastructure improvemen s to West Main Street and <br /> N. V�%ater Street (the "Project"); and <br /> WxExEas the Council has heretofore, and it hereby is, deter ined that the Project will <br /> specifically benefit the Area; and <br /> WxExEAs the costs of the Project constitute eligible Project c sts as defined in the TIF <br /> Act; and <br /> WHEREAS it is deemed by the Council to be necessary and advisable and in the best I <br /> interests of the residents of the City to obtain funds to pay a portion f the costs of the Project I <br /> and subject to amendment for such other corporate purposes as the ouncil may determine as <br /> hereinafter provided; and <br /> WHEREAS the estimated cost io the City of the Project is ot less than thea,sum of <br /> $1,500,000, plus the estimated available amount of interest earni gs on said sum prior to <br /> expenditure; and <br /> WxExEAs it is necessary for that purpose that a sum to pay su h costs be borrowed from <br /> time to time and in evidence of such indebtedness a general obligatio note of the City be issued <br /> in the principal amount of not to exceed $1,500,000, and that such i debtedness be incurred in <br /> accordance with the home rule powers of the City, as aforesaid, a d without submitting the <br /> question of incurring such indebtedness to the electors of said City for heir approval; <br /> Now TxEREFORE Be It Ordained by the Council of the City o Decatur, Macon County, <br /> Illinois, in the exercise of its home rule powers, as follows: <br /> ,.4ection 1. Definitions. In addition to such other words and terms used and defined in <br /> this ordinance, the following words and terms used in this Ordinanc shall have the following <br /> meanings, unless, in either case, the context or use clearly indicates an ther or different meaning <br /> is intended: <br /> -2- <br />