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under the Constitution and the laws of the State of Illinois ("Sprin�eld'�, the CITY OF
<br /> URBANA, CHAMPAIGN COLTNTY, ILLINOIS, a municipality and a home rule unit of government
<br /> duly organized and validly existing under the Constitution and the Iaws of the State of Illinois
<br /> ("Urbana"), the CITY OF WASHINGTON, TAZEWELL COUN'I'Y, ILLINOIS, a municipality and a
<br /> home rule unit of government duly organized and validly existing under the Constitution and the
<br /> laws of the State of Illinois ("Washington"), the CTTY OF WOOD RIVER, MADISON COUNTY,
<br /> IL.LINOIS, a municipality duly organized and validly existing under the Constitution and the laws
<br /> of the State of Illinois ("Wood River"), and the CTTY OF YORKVILLE, KENDALL COUNTY,
<br /> ILLINOIS, a municipality duly organized and validly existing under the Constitution and the Iaws
<br /> of the State of Illinois ("Yorkville");
<br /> WITNESSETH:
<br /> WI�xEAS, Section 10 of Article VII of the Constitution of the State of Illinois authorizes
<br /> units of local government and school districts to contract or otherwise associate among
<br /> themselves in any manner not prolubited by law or by ordinance, and to use their credit,revenues
<br /> and other reserves to pay cash and to service debt related to intergovernmental activities; and
<br /> WHEREAS, the Intergoverumental Cooperation Act (S Illinois Compiled Statutes 1998,
<br /> 220/1 et seq., as supplemented and amended), authorizes public agencies to exercise any power
<br /> or powers, privileges or authority which may be exercised by any such public agency
<br /> individually to be exercised and enjoyed jointly with any other public agency in the State of
<br /> Illinois; and
<br /> WHE1t�s, Alton, Aurora, Bartonville, Belleville, Belvidere, Bloomington, Bridgeview,
<br /> Carbondale, Champaign, Channahon, Charleston, Cicero, Collinsville, Crest Hill, Danville,
<br /> Decatur, DeKalb, Dolton, East Moline, East Peoria, East St. Louis, Edwazdsville, Evanston,
<br /> � Freeport, Godfrey, Granite City, Gurnee, Joliet, Justice, Kankakee, LaSalle, Lockport, Loves
<br /> Park, Machesney Park, Marquette Heights, Mattoon, Maywood, Mendota, Minooka, Moline,
<br /> Montgomery, Morton Grove, Normal, North Pekin, Oak Park, Orland Park, Palatine, Park
<br /> Forest, Pekin, Peoria, Peoria Heights,Peru, Princeton,Rantoul,Rochelle, Rock Island,Rockford,
<br /> Romeoville, Round Lake Beach, Schaumburg, Shorewood, South Beloit, Springfield, Urbana,
<br /> Washington, Wood River and Yorkville (collectively, the "Municipalities") are each a unit of
<br /> local government and a public agency of the State of Dlinois; and
<br /> WxEREAS, pursuant to the Constitution and the laws of the State of Illinois, and
<br /> particularly Section 6(a) of Article VII of the 1970 Constitution of the State of Illinois, in the
<br /> case of Municipalities which are home rule units of government, and 65 Illinois Compiled
<br /> Statutes 1998, 5/11-74.5-1 et seq., as supplemented and amended, in the case of Municipalities
<br /> which are not home rule units of government, each Municipality has the power to issue its
<br /> revenue bonds for public purposes, including the financing and purchase of mortgage loans to
<br /> finance single family residences for low and moderate income persons within its corporate
<br /> boundaries, and to pledge to the payment of the principal of, premiam, if any, and interest on
<br /> such revenue bonds the payments made with respect to the mortgage loans purchased with and
<br /> financed by the proceeds of such revenue bonds; and
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