2007-68 AMENDING CITY ORDINANCE NUMBER 2006-94

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� � � , * , ORDINANCE NUMBER 2007-68 AN ORDINANCE of the City of Decatur, Macon Cou ty, Illinois, amending City Ordinance Number 2006-94, adop ed by the Council on the 2nd day of October, 2006. W�xEAs the City of Decatur, Macon County, Illinois (the " ity"), is a duly organized municipality under the laws of the State of Illinois, operating ge erally under the Illinois Municipal Code, as amended; has a population in excess of 25,000 as determined by the last official census; and pursuant to the provisions of Section 6 of Article VII of the Constitution of the State of Illinois, the City is a home rule unit and may exercise ny power or perform any function pertaining to its government and affairs, including, but not limited to, the power to tax and to incur debt (the Illinois Municipal Code as supplemented and, where in conflict, superseded by said constitutional powers being the "Act"); and WHEREAS the Council of the City (the "Council") has previou ly authorized the issuance of the City's Taxable General Obligation Line of Credit Note (the "Note") in the aggregate principal amount of not to exceed $4,500,000 for the purpose of defr ying a portion of the costs of the City's share of the Wabash Crossing Phase II infrastructure osts, all as described and defined in the ordinance authorizing the Note, namely, Ordinance Nu ber 2006-94, adopted by the Council on the 2nd day of October, 2006 (the "Note Ordinance"); nd WHEREAS in Section 7 of the Note Ordinance, the Council reserved the right, as it became necessary from time to time, to revise the list of projects set forth in the Note Ordinance, to change priorities, to revise cost allocations between projects and to ubstitute projects, in order to meet current needs of the City; subject, however, to limitations of the Act and to the tax covenants set forth therein; and WHEREAS the Council deems it necessary and advisable and in the best interests of the residents of the City to obtain funds from the proceeds of the Note rom time to time to pay a