2001-81 AUTHORIZING THE PAYMENTOF REDEVELOPMENT PROJECT COSTS AND DISTRIBUTION OF EXCESS MONIES FOR THE WALMART REDEVELOPMENT PROJECT AREA

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_ � ORDINANCE NO. 2001-81 ORDINANCE AUTHORIZING THE PAYMENT OF REDEVELOPMENT PROJECT COSTS AND DISTRIBUTION OF EXCESS MONIES FOR THE WALMART REDEVELOPMENT PROJECT AREA -CITY OF DECATUR ILLINOIS - WHEREAS, pursuant to Ordinance No. 91-92, Ordinance No. 91-93 and Ordinance No. 91-94, adopted December 23, 1991, as supplemented and amended, the City of Decatur, Illinois (the "City") adopted a redevelopment plan and a related redevelopment project (the "Redevelopment Plan" and "Redevelopment Project"), designated the Walmart redevelopment project area (the "Redevelopment Project Area") and adopted tax increment finance for the Redevelopment Project Area. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF DECATUR, ILLINOIS: Section 1. The City Manager and other appropriate officers of the city are authorized and directed to effect the payment of all redevelopment project costs, the retirement of all obligations, and the distribution of any excess monies, preliminary to the dissolution of the special tax allocation fund for the Redevelopment Project Area and the termination of the designation of the Redevelopment Project Area as a"redevelopment project area"under the Act. Section 2. Upon effecting Section 1 of this ordinance on or before November 1 in calendar year 2002 the City Clerk shall notify affected taxing districts that the City intends to dissolve the special tax allocation fund for the Redevelopment Project Area and to terminate the Redevelopment Project Area by December 31, 2002, and any such actions previously taken by said Clerk are hereby rahfied and approved.