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, ,. � <br /> RESOLUTION NO. R /— �J <br /> RESOLUTION WAIVING THE CITY OF DECATUR RIGHT <br /> TO DISAPPROVE THE ILLINOIS DEVELOPMENT FINANCE <br />' AUTHORITY'S INTENT TO ISSUE $ <br /> INDUSTRIAL DEVELOPMENT REVENUE BONDS <br /> FOR ENLOE DRUGS, INC. <br /> WHEREAS, the Illinois Development Finance Authority (the <br /> "Authority") has submitted a written notice to the City of <br /> Decatur, Macon County, Illinois, (the "City") , advising the City <br /> that the Authority intends to issue it revenue bonds to finance a <br /> project for Enloe Drugs, Inc. , (the "Company") , some portion of <br /> which may be within the planning and subdivision control <br /> jurisdiction of the City, pursuant to the provisions of Illinois <br /> Revised Statutes 1987 , Chapter 48, Section 850 . 01 et se . , known <br /> as "The Illinois Development Finance Authority Act" , as <br /> supplemented and amended (the "Act") ; and, <br /> WHEREAS, the Act provides that the Authority shall not issue <br /> its revenue bonds to finance a project within the planning and <br /> subdivision control jurisdiction of a municipality unless the <br /> corporate authorities of such municipality do not adopt a <br /> resolution disapproving such project within forty-five (45) days <br /> after receipt of written notice from the Authority or have <br /> notified the Authority that the municipality has adopted a <br /> resolution approving the industrial project; and, <br /> WHEREAS, the Company desires that the Authority issue its <br /> revenue bonds to finance the Project within the forty-five (45) <br /> days after receipt by the City of the written notice from the <br /> Authority referred to above; and, <br /> WHEREAS, the City Council of the City has reviewed said <br /> written notice from the Authority, and is familiar with the <br /> Project, the financing therefor and other relevant facts. <br /> NOW, THEREFORE, BE IT RESOLVED, BY THE CITY COUNCIL OF THE <br /> CITY OF DECATUR, ILLINOIS: <br /> Section 1 . That the City does hereby approve the financing <br /> of the Project by the Authority within the planning and <br /> subdivision control jurisdiction of the City. <br /> Section 2 . That the City hereby acknowledges that, by the <br /> adoption of this Resolution, it is waivinq any right it may have <br /> under the Act to disapprove the financing of the Project by the <br /> Authority within the planning and subdivision control <br /> jurisdiction of the City. <br />