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NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br /> OF DECATUR, ILLINOIS: <br /> Section 1. The preambles to this Resolution are hereby incorporated by reference herein. <br /> Section 2. The Council does hereby determine that it is necessary and desirable at this <br /> time to proceed with the issuance of not to exceed $10,000,000 General Obligation Refunding <br /> Bonds, Series 1995, of the City. <br /> Section 3. The City Manager, City Clerk, City Treasurer, Corporation Counsel and other <br /> officers and employees of the City are hereby authorized and directed to select and work with an <br /> underwriter to prepare an Official Statement for the Bonds, and to select and work with bond <br /> counsel to prepare necessary papers and legal proceedings. Such officers, underwriter and <br /> counsel shall also make provision for the customary and usual distribution of the offering <br /> documents. In addition, such officers and employees are authorized and directed to take such <br /> steps and incur such reasonable and necessary expenses such as rating agency costs, publication <br /> costs, travel costs and related expenses for the expeditious sale of the Bonds. <br /> Section 4. The Underwriter shall diligently pursue a course of action leading to an offer <br /> to purchase the Bonds at fair and reasonable rates and will present such offer to the Council at <br /> any regular meeting to be held on or before December 31, 1995. <br /> Section 5. The Council may also add to the amounts and purposes of the proposed issue <br /> of the Bonds at any time as it shall deem advisable and in the best interests of the City. <br /> PRESENTED AND ADOPTED this 7th day of December, 1995. <br /> `—�� - ¢"ld /'n <br /> `TERRY M. HOWLEY <br /> MAY �_�__ <br /> ATTEST: � <br /> �____ — <br /> , i !, <br /> TY CL <br />