2001-58 PROVIDING FOR THE ISSUANCE OF A TAXABLE SUBORDINANTE LIEN PROMISSORY NOTE

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�,,,. ,,� ., r ORDINANCE N0. 2001-58 AN ORDINANCE of the City of Decatur, Macon County, Illinois, providing for the issuance of a not to exceed $4,882,000 Taxable Subordinate Lien Promissory Note (Southeast Plaza Project), Series 2001. WF-IE�tEAs, the City of Decatur, Macon County, Illinois (the "Ciry'�, has heretofore conducted an eligibility study and caused the preparation of a written redevelopment plan for a proposed redevelopment plan and project pursuant to the Tax Increment Allocation Redevelopment Act, as supplemented and amended(the `Act'�; and W�1tEAs, the City Council of the City (the "Corporate Authorities'� convened a joint review board and called and gave public notice of a public hearing for the 14th day of April, 1997, to consider the approval of the Southeast Plaza TIF District Tax Increment Financing ' Redevelopment Plan (the "Plan") and a redevelopment project as described therein (the `Redevelopment Project"), the designation of the Southeast Plaza Tax Increment Financing Redevelopment Project Area (as legally described in ExH�B�T A attached hereto, the `Project Area'�, and the adoption of tax increment allocation financing for the Project Area, and thereafter by ordinance approved the Plan and Redevelopment Project, designated the Project Area, and adopted tax increment allocation financing therefor, all as provided in the Act; and WHEREAS, the Plan contemplates that the City will incur certain redevelopment project costs, as defined in the Act, in connection with the designation of the Project Area and the implementation of the Redevelopment Project, including, but not limited to, the acquisition of real property or rights therein, construction, acquisition and installation of traffic signalization, 1191412.01.04 2041069Decatur2001/illpmc