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THE COUNTY OF WOODFORD, ILLINOIS, a political subdivision duly organized and validly
<br /> existing under the Constitution and the laws of the State of Illinois ("Woodford Counry");
<br /> WITNESSETH:
<br /> WHEREAS, Section 10 of Article VII of the Constitution of the State of Illinois authorizes
<br /> units of local government and school districts to contract or otherwise associate among
<br /> themselves in any manner not prohibited by law or by ordinance, and to use their credit, revenues
<br /> and other reserves to pay cash and to service debt related to intergovernmental activities; and
<br /> WHEREAS, the Intergovernmental Cooperation Act (S Illinois Compiled Statutes 2002,
<br /> 220/1 et seq., as supplemented and amended), authorizes public agencies to exercise any power
<br /> or powers, privileges or authority which may be exercised by any such public agency
<br /> individually to be exercised and enjoyed jointly with any other public agency in the State of
<br /> Illinois; and
<br /> WHEREAS, Aurora, Bartonville, Belleville, Bellwood, Belvidere, Bridgeview,
<br /> Champaign, Channahon, Charleston, Collinsville, Crest Hill, Creve Coeur, Danville, Decatur,
<br /> DeKalb, Dolton, East Moline, East Peoria, Edwardsville, Elgin, Freeport, Godfrey, Harvard,
<br /> Harvey, Joliet, Justice, LaSalle, Lockport, Loves Park, Machesney Park, Marquette Heights,
<br /> Mattoon, McHenry, Mendota, Minooka, Montgomery, Naperville, North Pekin, Oak Park, Park
<br /> Forest, Pekin, Peoria, Peoria Heights, Peru, Princeton, Robbins, Rochelle, Rockford, Rockton,
<br /> Romeoville, Schaumburg, Shorewood, South Beloit, Springfield, Urbana, Washington, West
<br /> Chicago, Wonder Lake, Wood River, Woodstock, United City of Yorkville, Boone County,
<br /> Bureau County, Champaign County, Coles County, Cook County, Cumberland County, DeKalb
<br /> County, DeWitt County, Fulton County, Kane County, Kankakee County, Kendall County, Lake
<br /> County, LaSalle County, Lee County, Livingston County, Macon County, Madison County,
<br /> McLean County, Ogle County, Peoria County, Piatt County, Rock Island County, Sangamon
<br /> County, St. Clair County, Tazewell County, Vermilion County, Winnebago County, and
<br /> Woodford County (collectively, and together with any public agencies in the State of Illinois that
<br /> may become parties hereto, the "Units") are each a unit of local government and a public agency
<br /> of the State of Illinois; and
<br /> WHEREAS, pursuant to the Constitution and the laws of the State of Illinois, and
<br /> particularly Section 6(a) of Article VII of the 1970 Constitution of the State of Illinois, in the
<br /> case of the Units which are home rule units of government, 65 Illinois Compiled Statutes 2002,
<br /> 5/11-74.5-1 et seq., as supplemented and amended, in the case of the Units which are
<br /> municipalities, but are not home rule units of government, and 50 Illinois Compiled Statutes
<br /> 2002, 465/1 et seq., as supplemented and amended, in the case of Units which are counties, each
<br /> Unit has the power to issue its revenue bonds for public purposes, including the financing and
<br /> purchase of mortgage loans to finance single family residences for low and moderate income
<br /> persons within its corporate boundaries, and to pledge to the payment of the principal of,
<br /> premium, if any, and interest on such revenue bonds the payments made with respect to the
<br /> mortgage loans purchased with and financed by the proceeds of such revenue bonds; and
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