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ti ' ' <br /> � r <br /> 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 /> 21 and thereafter* 100* <br /> *In addition,the City will undertake the termination proceedings under Section 1 above. <br /> Section 3. Taxin�District Renresentation. With the City's covenants <br /> and agreements in Section l. 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 in connection 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 /> date of full execution. <br /> CITY OF DECATUR, ILLINOIS (the "City") BICHLAND COIVIlVIIINITY COLLEGB <br /> (the "DistricY' <br /> By: y: <br /> City Manager . Larry Osborne, Chairman <br /> Date: ✓�� � , 2003 Date:October 21. , 2003 . ' <br /> ATTEST•y 'i <br /> l I <br /> �.�il�.� __ . - 1���, II <br /> CITY CLERK � <br /> -2- <br />