2003-54 PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION REFUNDING BONDS

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, � , ORDINANCE NUMBER 2003-54 AN ORnnv,e.tvcE providing for the issuance of not to exceed $34,000,000 General Obligation Refunding Bonds of the City of Decatur,Macon County, Illinois, and providing for the levy and collection of a direct annual taJc for the payment of the principal of and interest on said bonds. WxE�tEAs by virtue of its population, the City of Decatur, Macon County, Illinois (the "City"), 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 any power or perform any function pertaining to its government and affairs including, but not limited to, the power to tax and to incur debt; and Wx�tEAs pursuant to the provisions of said Section 6, the City has the power to incur � debt payable from ad valorem property tax receipts or from any other lawful source and maturing I within 40 years from the time it is incuned without prior referendum approval; and �I WxExEAs on the 25th day of February, 1982,the Council of the City (the "Council")did '� adopt an ordinance determining the procedures to be followed in the bonowing of money for public purposes of the City and in evidence of such borrowing the issuing of full faith and credit bonds of the City without referendum approval,such ordinance being entitled: ' OxnnvaivcE No. 82-22 Arr ORn�t,e►�vcE establishing procedures to be followed in incurring I indebtedness for corporate purposes, issuing bonds to evidence such indebtedness and directing the levying of taxes, without limit as to rate or amount, for the purpose of paying principal and interest on such bonds as the same become due. (the "Enabling Ordinance"); and WxEttEAs the City has heretofore issued the following outstanding and validly subsisting and unpaid general obligations(collectively,the "Series 2000 Bonds"):