2001-01 AUTHORIZING THE BORROWING OF FUNDS

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WHEREAS, pursuant to said home rule authority, the City is authorized to borrow funds from the Public Water Supply Loan Program in the aggregate principal amount of$9,500,000.00 to provide funds to pay the costs of the Project; and, WHEREAS, the loan to the City shall be made pursuant to a Loan Agreement, including certain terms and conditions,between the City and the Illinois Environmental Protection Agency. NOW, THEREFORE, BE IT ORDAINED, BY THE CITY COUNCIL OF THE CITY OF DECATUR, ILLINOIS: Section 1. INCORPORATION OF PREAMBLES The Council hereby finds that the recitals contained in the preambles are true and correct, and incorporate them into this ordinance by this reference. Section 2. DETERMINATION TO BORROW FUNDS It is necessary and in the best interests of the City to construct the Project for the public health, safety and welfare, in accordance with the plans and specifications, as described; that the System continue to be operated in accordance with the provisions of the Illinois Environmental Protection Act, 415 ILCS 5/1 et. seq.; and that for the purpose of constructing the Project, it is hereby authorized that funds be borrowed by the City in an aggregate principal amount (which includes construction period interest financed over the term of the loan) not to exceed $9,500,000.00. Section 3. ADDITIONAL ORDINANCES The City Council may adopt additional ordinances or proceedings supplementing or amending this Ordinance providing for entering into the Loan Agreement with the Illinois , Environmental Protection Agency, prescribing all the details of the Loan Agreement, and '� providing for the collection, segregation and distribution of the revenues of the System, so long as the maximum amount of the Loan Agreement as set forth in this Ordinance is not exceeded and there is no material change in the Project or purposes described herein. Any additional Ordinances or proceedings shall in all instances become effective in accordance with applicable law. This Ordinance, together with such additional ordinances or proceedings, shall constitute complete authority for entering into the Loan Agreement under applicable law. However, notwithstanding the above, the City may not adopt additional ordinances or amendments which provide for any substantive or material change in the scope and intent of this Ordinance, including but not limited to interest rate, preference or priority of any other ordinance with this Ordinance, parity of any other ordinance with this Ordinance, or otherwise alter or impair the obligations of the City to pay the principal and interest due to the Public Water Supply Loan Program without the written consent of the Illinois Environmental Protection Agency.