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Surplus <br /> Year s Declarations(%) <br /> 1-15 25 <br /> 16 75 <br /> 17 80 <br /> 18 85 <br /> 19 90 <br /> 20 95 <br /> '�: anc t;:e:�;z�;c-* 1�0* <br /> *In addition,the City will undertake the termination proceedings under Secrion 1 above. <br /> Section 3. Tazin$District Reuresentation. With the City's covenants <br /> and agreements in Section 1. and 2. above, the Taxing District hereby represents that the <br /> establishment of the Redevelopment Project Area and the approval and giving effect to the <br /> Redevelopment Plan and Redevelopment Project is in the best interests of the development and <br /> redevelopment of the Redevelopment Project Area and the City and the Taxing District. <br /> Section 4. Joint Review Board. As a part of the applicable joint review <br /> proceedings in each year, the City will specifically report on and account for the status of this <br /> Agreement iri co�nection with the $10,400,000 cap amount under Section 1 and the surplus <br /> declaration under Section 2. <br /> This Agreement is made by and between the City and the Taxing District as of the <br /> d�te of full execution. <br /> CITY OF 11�ECATUR, ILLINOIS (the"City"� COUNTY OF MACON <br /> �ine"�'iistrict'j <br /> . � <br /> By: By: <br /> City Manag .r <br /> _ C'��.�� <br /> Date: � IU� � , 2003 Date: November 13 , 2003 <br /> , , <br /> ,, � �� ' <br /> Attest: � � � ,/��' �. <br /> � /�� <br /> �'-�-��� _ _ -�/�C��L, ,� <br /> _ �� r <br /> City Clerk ��1�— G �J <br /> AYES 18 NAYS 0 <br /> -2- <br />