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

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� r , � � the agreement. Such costs include, specifically, the payment by community college districts of costs pursuant to Sections 3-37, 3-38, 3-40 and 3-40.1 of the Public Community College Act and by school districts of costs pursuant to Sections 10.22.20a and 10-23.3a of The School Code. "Qualified Investments" means any investment permitted for the City under Illinois law. "RedevelopmentAgreement"means that certain Redevelopment Agreement dated as of April 9, 1997, as amended, by and between the City and Airport Plaza Joint Venture, an Illinois general partnership. `Regular Record Date"means, for any Interest Payment Date,the 15th day of the calendar month next preceding such Interest Payment Date, or for any redemption on other than an Interest Payment Date, the 15th day next preceding the date of redemption. "Southeast Plaza Project" means that portion of the Project to be financed by the City with the proceeds of the Note. "Special Tax Allocation Fund" means the Southeast Plaza Tax Increment Financing Redevelopment Project Area Special Tax Allocation Fund of the City,which is a special tax allocation fund for the Project Area established pursuant to Section 11-74.4- 8 of the Act and created by an ordinance heretofore adopted by the Corporate Authorities on May 5, 1997, as continued and further described by this Ordinance. "Stated Maturity" when used with respect to the Note or any interest thereon means the date specified in the Note as the fixed date on which the principal of the Note or such interest is due and payable, whether by maturity, mandatory redemption, or otherwise. "Tax Year"means the year for which an ad valorem tax levy is made by any and all taxing districts or municipal corporations having the power to tax real property in the Project Area. The 2001 Tax Year shall be that year during which ad valorem taxes levied for the year 2001 (collectible in the year 2002)are extended and collected, and so on. "Total Initial Equalized Assessed value" means the total initial equalized assessed value of the taxable real property within the Project Area determined by the County Clerk of The County of Macon, Illinois, in accordance with the provisions of Section 11-74.4-9 of the Act. Section 2. Findings. The Corporate Authorities hereby find that the Plan and the Redevelopment Project have been approved, the Project Area has been designated, tax increment allocation financing has been adopted, a request for proposals for redevelopment of the Project -7-