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<br /> RESOLUTION NO. R99-187
<br /> RESOLUTION AUTHORIZING THE ISSUANCE AND SALE BY THE
<br /> CITY OF ITS ECONOMIC DEVELOPMENT REVENUE BONDS
<br /> (EASTER SEALS CENTRAL ILLINOIS, INC. PROJECT), SERIES
<br /> 1999, AUTHORIZING EXECUTION OF A LOAN AGREEMENT, AN
<br /> ASSIGNMENT AND AGREEMENT, AND A BOND PURCHASE
<br /> AGREEMENT, ALL RELATIVE TO SAID BONDS, AND I
<br /> AUTHORIZING OTHER ACTION TO BE TAKEN WITH RESPECT
<br /> TO THE ISSUANCE, SALE AND DELIVERY OF SAID BONDS. I
<br /> WHEREAS, The Industrial Project Revenue Bond Act, 65 ILCS 5/11-74-1 et
<br /> seq., as supplemented and amended, including by the Illinois Bond Replacement Act, the
<br /> Registered Bond Act, the Bond Authorization Act and Section 6 (Powers of Home Rule I
<br /> Units) of Article VII (Local Government) of the Constitution of the State of Illinois ',
<br /> (collectively, the "Act") authorizes and empowers the City of Decatur, Illinois (the
<br /> "Issuer") to issue its revenue bonds to issue its revenue bonds to finance in whole or in
<br /> part the cost of the acquisition, purchase, construction, reconstruction, improvement,
<br /> betterment or extension of any industrial project (as defined in the Act) and in conjunction ,
<br /> therewith, to pledge to the punctual payment of such bonds and interest thereon the '
<br /> income and revenues to be received with respect ta such industrial project sufficient to pay I
<br /> such bonds and interest as they become due and to create and maintain reasonable reserves ,
<br /> therefor, all for the purpose of encouraging the increase of industry and commerce within
<br /> the lssuer, thereby reducing the evils attendant upon unemployment, and providing for the
<br /> increased benefit and welfare of the residents of the Issuer; and
<br /> WHEREAS, it has been proposed that the Issuer issue its Economic Development �
<br /> Revenue Bonds (Easter Seals Central Illinois, Inc. Project), Series 1999, in an aggregate
<br /> principal amount of$750,000 (the `Bonds") and loan the proceeds thereof to Easter Seals
<br /> Central Illinois, Inc., an Illinois not-for-profit corporation (the"Company"), which will use
<br /> the proceeds to finance a portion of the cost of the acquisition, construction, installation
<br /> and equipping of a new one (1) story building of approximately 14,400 square feet and
<br /> adjacent paved parking area, all of which will be situated on a two (2) acre site located at
<br /> 2715 North 27th Street, Decatur, Illinois, said location being within the territorial
<br /> boundaries of the Issuer, to be owned and operated by the Company, and which when
<br /> completed will be used by the Company to provide programs and services to individuals
<br /> with disabilities within the Company's twelve (12) county service area, to help people with
<br /> disabilities increase their independence and quality of life and to provide conference
<br /> rooms, therapy rooms, administrative offices, activity rooms, child care rooms, kitchen,
<br /> community room, toy learning center and case management offices, all necessary for the
<br /> delivery of the Company's programs and services (the "Project"); and
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