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

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� �. . . RESOLUTION NO. R96-63 A RESOLUTION PROVIDING FOR THE FINANCING BY THE CITY OF DECAT[TR, MACON COUNTY, ILLINOIS OF THE ACQUISITION OF MANUFACTURING FACILITIES FOR RINGWOOD CONTAINERS, L.P. , TO PROVIDE INCREASID JOB OPPORTUNITIES AND RETAIN EXISTING JOBS; AVi'HORIZING THE ISSUANCE OE ITS $2,750,000 I1�IDUSTRIAL DEVELOPMENr REVENUE BONDS (RINGWOOD CONTAINERS PROJECT), SERIES 1996, IN CONNECT I ON Z'SEREW I TH; AU'I�OR I Z I NG 1� EXECUT I ON AI�ID DELIVERY OE A LOAN AGREII�lENT AND AN ASSIG�P AGREEMENr SECURING SUCH BO1�S; AUTHORIZING THE SALE OE SUCH BOPIDS; AiTI�ORIZING 7� EXECUTION AND DELIVERY OE A TAX REGULATORY AGREII�NT; AND RELATED MATTERS. WSEREAS, 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 se . 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 - WHEREAS, with notice having been published on May 11, 1996 in the Decatur Herald, published and of general circulation in Decatur, Illinois, the Issuer' s City Council on May 28, 1996 held and conducted a public hearing concerning the issuance under II the Act of not to exceed $3, 000,000 aggregate principal amount of 'I 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