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of Illinois ("South Beloit"), the CITY OF SPRINGFIELD, SANGAMON COUNTY, ILLINOIS, a
<br /> municipality and a home rule unit of government duly organized and validly existing under the
<br /> Constitution and the laws of the State of Illinois ("Springfield"), the CITY OF URBANA,
<br /> CHAMPAIGN COUNTY, ILLINOIS, a municipality and a home rule unit of government duly
<br /> organized and validly existing under the Constitution and the laws of the State of Illinois
<br /> ("Urbana"), and the CITY OF WOOD RIVER, MADISON COUNTY, ILLINOIS, a municipality duly
<br /> organized and validly existing under the Constitution and the laws of the State of Illinois ("Wood
<br /> River"), and the CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS, a municipality duly
<br /> organized and validly existing under the Constitution and the laws of the State of Illinois
<br /> ("Yorkville");
<br /> WITNESSETH:
<br /> WHEREAS, 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 prohibited 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 Intergovernmental Cooperation Act (S Illinois Compiled Statutes 1996,
<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 /> WHEREAS, Aurora, Bartonville, Belleville, Belvidere, Bridgeview, Champaign,
<br /> Charleston, Chatham, Cherry Valley, Crest Hill, Danville, Decatur, DeKalb, East Moline, East
<br /> Peoria, Edwardsville, Evanston, Forsyth, Freeport, Godfrey, Gurnee, Joliet, Justice, Kankakee,
<br /> LaSalle, Lockport, Loves Park, Machesney Park, Mattoon, Montgomery, Morton Grove, Mt.
<br /> Zion, Oak Park, Palatine, Pekin, Peoria, Peru, Rantoul, Rochelle, Rockford, Romeoville,
<br /> Shorewood, South Beloit, Springfield, Urbana, Wood River and Yorkville (collectively, the
<br /> "Municipalities") are each a unit of local government and a public agency of the State of
<br /> Illinois; and
<br /> WHEREAS, 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 �I
<br /> Statutes 1996, 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, premium, 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
<br /> WHEREAS, the Municipalities have determined that it is necessary and desirable to have
<br /> Aurora, Rockford and Springfield (the "Issuers")jointly issue such revenue bonds on behalf of
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