2005-79 AUTHORIZING THE ISSUANCE OF BONDS AND AGREEMENTS

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Section 1. Findings. It is found and declared by the City Council of the City of Decatur, Macon County, Illinois, as follows: (a) The City, as a home rule unit of government pursuant to Article VII, Section 6(a) of the Constitution of the State of Illinois, and the Authority pursuant to the Illinois Finance Authority Act, 20 ILCS 3805/1 et seq., as from time to time supplemented and amended (the "Act"), are each authorized to issue its revenue bonds to finance costs of the Program. (b) It is necessary and in the best interests of the City to authorize the financing of the Program through the joint issuance with the Authority of the Illinois Finance Authority and City of Decatur, Macon County, Illinois, First Home: Illinois Fixed Rate Single Family Mortgage Revenue Bonds (the `Bonds") in the aggregate principal amount �� not to exceed $75,000,000, as provided in this Ordinance. I (c) In furtherance of the Program the Bonds will be used to aid in assisting qualified persons or families in acquiring homes within the State of Illinois by providing a source of mortgage financing, including down payment assistance. (d) The financing of the Program through the issuance of the Bonds is a valid public purpose for the issuance of revenue bonds by the City. Section 2. The City is hereby authorized to enter into each of the City Documents with the other party or parties thereto in substantially the forms before this meeting or with such changes as sha.11 be approved pursuant to Section 7 hereof. The form, terms and provisions of the City Documents are, in all respects approved. The Mayor or Treasurer (or any person appointed to such office or an interim basis) is authorized, empowered and directed to execute and deliver and, if required, the City Clerk of the City (or any person appointed to such oi�ice or an interim basis) is authorized, empowered and directed to attest and to af� the official seal of the City to, the City Documents in the name, for and on behalf of the City, and thereupon to cause the City -4-