R96-63 PROVIDING FOR THE FINANCING OF THE ACQUISITION OF MANUFACTURING FACILITIES

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' r RESOLUTION NO. R96-63 A RESOLUTION PROVIDING FOR THE EINANCING BY THE CITY OE DECATUR, MACON COUNTY, ILLINOIS OE TFIE ACQUISITION OE MANUFACTURING FACILITIES FOR RINGWOOD CONTAINERS, L.P. , TO PROVIDE INCREASID JOB OPPORTUNITIES AND RETAIN EXISTING JOBS; AUTHORIZING Z� ISSUANCE OE ITS $2,750,000 II�IDUSTRIAL DEVELOPMENT REVENUE BOI�IDS (RINGWOOD CONTAINERS PROJECT), SERIES 1996, IN CONNECTION TSERE.'WITH; AUTHORIZING TSE EXECUTION AI�ID DELIVERY OF A LOAN AGREII�NT AND AN ASSIGNI�NT AGREEMENT SECURING SUCH BOI�IDS; AU't'HORIZING TBE SALE OF � SUCH BOPIDS; AUTHORIZING THE EXECUTION AI�ID DELIVERY OE A TAX REGUI,ATORY AGREII�iENT; �1ND RELATED MATTERS. wF�F�AS, the City of Decatur, Macon County, Illinois, a home rule municipality (the "Issuer") , is authorized and empowered by the provisions of The Industrial Project Revenue _ Bond Act, Section 11-74-1 et seq. of Chapter 65 of the Illinois Compiled Statutes, as supplemented and amended, including by the Issuer' s power and authority as a home rule unit (the "Act") , to issue its revenue bonds to finance the costs of certain "industrial projects", in order to promote the general health, safety, morals and welfare, to increase job opportunities and to retain existing jobs; and , WgF'�AS, witYi notice having been published on May I1, I 1996 in the. Decatur Herald, published and of general circulation �I in Decatur, Illinois, the Issuer' s City Council on May 28, 1996 '�, held and conducted a public hearing concerning the issuance under the Act of not to exceed $3, 000, 000 aggregate principal amount of revenue bonds to finance, among other things, the acquisition of machinery constituting facilities for the manufacturing of plastic bottles and other products, and related and appurtenant facilities, at 2454 Hubbard Avenue, in Decatur, Illinois, and