2008-10 RESERVING 2008 VOLUME CAP FOR PRIVATE ACTIVITY BOND ISSUES, AND RELATED MATTERS

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, 'R ORDINANCE NO. 2008-10 AN ORDINANCE RESERVING 2008 VOLUME CAP FOR RIVATE A�TIVITY BOND ISSUES,AND RELATED MATTERS. W��As, the City of Decatur, Macon Count , Illinois (the "Municipality"), is a municipality and a home rule unit of government under Section 6 of Article VII of the 1970 Constitution Iof the State of Illinois; and WHEREAS, according to an official Bureau of the C nsus population estimate set forth in the State of Illinois Allocation of Bond ng Authority in Accordance with the Tax Reform Act of 1986 and the Guidelines and Procedures for the Allocation of Private Activity Bondi g Authority in Accordance with the Tax Reform Act of 1986 and 30 I CS 345 of the Office of the Governor, effective January 1, 2008 (the ` Guidelines and Procedures"), the most recent census estimate of resident opulation of the Municipality is 77,047, providing the Municipality with volume cap of $6,548,995 for the year 2008; and WHEREAS, Section 146 of the Internal Revenue C de of 1986, as amended (the "Code"), provides that such volume cap may be reserved and allocated to certain tax-exempt private activity bonds; and W�xEAs, the Illinois Private Activity Bond All cation Act, 30 Illinois Compiled Stattctes 2004, 345/l et seq., (the "Act"), s supplemented and amended, and the Guidelines and Procedures, provide hat a home rule unit of government may reserve its allocation of volume ca or may transfer its allocation of volume cap to any other home rule unit of overnment, the State of Illinois or any agency thereof or any non-ho e rule unit of government; and WHEREAS, it is now deemed necessary and d sirable by the Municipality to reserve its entire volume cap allocation f r calendar year 2008 to be applied toward the issuance of private activ' y bonds, or to transfer such volume cap allocation, as permitted by this Or inance; 2008-l0.doc 9001644 I