R99-165 AUTHORIZING THE EXECUTION OF A MEMORANDUM OF INTENT

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MEMORANDUM OF 1NTENT THIS MEMORANDUM OF INTENT is between the CITY OF DECATUR, ILLINOIS (the "Issuer") and EASTER SEALS CENTRAL ILLINOIS, INC., an Illinois not-for-profit corporation (the "Borrower"). 1. Preliminary Statement. Among the matters of mutual inducement which have resulted in this Memorandum of Intent are the following: (a) The Issuer, a political subdivision, body politic and home rule municipality, duly organized and validly existing under the laws of the State of Illinois (the "City"), under and pursuant to The Industrial Project Revenue Bond Act, 65 ILCS 5/11-74-1 et seq., as supplemented and amended, including by the Illinois Bond Replacement Act, the Registered Bond Act, the Bond Authorization Act and Section 6 (Powers of Home Rule Units) of Article VII (Local Government) of the Constitution of the State of Illinois (collectively, the "Enabling Act"), is authorized and empowered among other things (a) to make a loan to assist in the acquisition, construction, installation and equipping of qualifying "industrial projects" under the Enabling Act and (b) to issue and sell its revenue bonds to provide moneys for such a loan. (b) The Borrower wishes to obtain satisfactory indication from the Issuer of intent that the proceeds of the sale of the revenue bonds of the Issuer will, subject to the terms of this Memorandum of Intent, be made available to the Borrower to finance a portion of the cost of the acquisition, construction, installation and equipping of a new one (1) story building of approximately 14,400 square feet and adjacent paved parking area, all of which will be situated on a two (2) acre site located at 2715 North 27th Street, Decatur, Illinois, said location being within the territorial boundaries of the Issuer, to be owned and operated by the Borrower, and which when completed will be used by the Borrower to provide programs and services to individuals with disabilities within the Borrower's twelve (12) county service area, to help people with disabilities increase their independence and quality of life and to provide conference rooms, therapy rooms, administrative offices, activity rooms, child care rooms, kitchen, community room, toy learning center and case management offices, all necessary for the delivery of the Borrower's programs and services (the "Project"). � (c) The Bonds shall be special, limited obligations of the Issuer payable solely out of the revenues and receipts and other amounts received by or on behalf of the Issuer, pursuant to a loan agreement or other financing agreement between the Issuer and the Borrower or its designee. The Bonds and the interest thereon shall not constitute or give rise to a pecuniary liability of the Issuer or a charge against its general credit or taxing powers.