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promote, operate and maintain expositions, conventions and cultural <br /> activities and to equip and maintain auditorium, exposition and <br /> office buildings for such purposes and to plan for such grounds and <br /> centers and execution of its duties ( 70 ILCS 265/4 and 265/5 ) ; and <br /> WHEREAS, the Authority is the owner of the real estate ( "real <br /> estate" ) described in Exhibit A attached hereto, which real estate <br /> has a parking garage structure situated thereon and is bounded by <br /> William Street, Jackson Street and Prairie Avenue in the City of <br /> Decatur, Illinois; and <br /> WHEREAS, the City desires to acquire the real estate from the <br /> Authority for the purpose of operating, maintaining and improving <br /> a local public transportation system; and <br /> WHEREAS, the real estate is presently being used by the <br /> Authority for storage purposes essential to the operation and <br /> continuation of its duties and responsibilities; and <br /> WHEREAS, the Authority has a need for storage space to be used <br /> in conjunction with promoting, operating and ma.intaining its <br /> grounds, centers and office building; and <br /> WHEREAS, the City has a need for the real estate in order to <br /> operate and improve a local, public transportation system; and <br /> WHEREAS, the City has had the real estate appraised at its <br /> current fair market value in the amount of $627 , 500 . 00 ( "purchase <br /> price" ) ; and <br /> wHEREAS, the Authority is willing to accept the purchase price <br /> for the real estate and provide storage space for itself at another <br /> location; and <br /> -3- <br />