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W��As, pursuant to Section 10 of Article VII of the 1970 Constitution of the State of <br /> Illinois and the Intergovernmental Cooperation Act (S Illinois Compiled Statutes 2000, 220/1 et <br /> seq., as supplemented and amended), public agencies may exercise and enjoy with any other <br /> public agency in the State of Illinois any power, privilege or authority which may be exercised by <br /> such public agency individually, and, accordingly, it is now determined that it is necessary, <br /> desirable and in the public interest for the Municipality to enter into an Intergovernxnental <br /> Cooperation Agreement (the "Cooperation Agreement") dated as of March 1, 2003, by and <br /> among the Municipality and certain other units of local government named therein (the "Units"), <br /> to provide for the joint issuance of such revenue bonds to aid in providing an adequate supply of <br /> residential housing in such Units (the "Program"); and <br /> W��As, to provide for the Program, the City of Aurora, Kane, DuPage, Will and <br /> Kendall Counties, Illinois, and the City of Springfield, Sangamon County, Illinois, jointly (the <br /> `7ssuers"), propose to issue, sell and deliver their Collateralized Single Family Mortgage <br /> Revenue Bonds, Series 2003 in an aggregate principal amount not to exceed $300,000,000 (the <br /> "Bonds") in one or more series to obtain funds to finance the acquisition of mortgage-backed <br /> securities (the "GNMA Securities") of the Government National Mortgage Association <br /> ("GNMA"), evidencing a guarantee by GNMA of timely payment, the acquisition of <br /> mortgage-backed securities (the "FNMA Securities") of the Federal National Mortgage <br /> Association("FNMA"), evidencing a guarantee by FNMA of timely payment, and the acquisition <br /> of mortgage-backed securities (the "FHLMC Securities") of the Federal Home Loan Mortgage <br /> Corporation ("FHLMC"), evidencing a guarantee by FHLMC of timely payment, of monthly <br /> principal of and interest on certain qualified mortgage loans under the Program (the "Mortgage <br /> Loans"), on behalf of the Municipality and the other Units all under and in accordance with the <br /> Constitution and the laws of the State of Illinois; and <br />