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R91-09 APPROPRIATING FUNDS FOR PAYMENT OF PRINCIPAL OF AND INTEREST ON CORPORATE PURPOSE BONDS
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R91-09 APPROPRIATING FUNDS FOR PAYMENT OF PRINCIPAL OF AND INTEREST ON CORPORATE PURPOSE BONDS
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7/26/2016 1:44:30 PM
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Resolution/Ordinance
Res Ord Num
R91-09
Res Ord Title
APPROPRIATING FUNDS FOR PAYMENT OF PRINCIPAL OF AND INTEREST ON CORPORATE PURPOSE BONDS - BRUSH COLLEGE ROAD AND FARIES PARK INTERSECTION
Approved Date
1/22/1991
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RESOLUTION NO. <br /> �22 � / - o ` <br /> RESOLUTION APPROPRIATING FUNDS FOR PAYMENT <br /> OF PRINCIPAL OF AND INTEREST ON CORPORATE PURPOSE <br /> BONDS - BRUSH COLLEGE ROAD AND FARIES PARK INTERSECTION <br /> WHEREBY, by Ordinance No. 89-97 passed and approved December 11, <br /> 1989, bonds of the City were issued and funds appropriated, among other <br /> things, for the road improvements to improve the traffic flow and safety <br /> at Brush College Road and Faries Parkway Intersection; and, <br /> WHEREAS, a copy of said ordinance has been filed with the Illinois <br /> Department of Revenue; and, <br /> WHEREAS, the Council finds it to be in the best interests of the <br /> City to apply Motor Fuel Taxes allocated to the City in payment of the <br /> principal of and intereat on said bonds to become due in calendar 1991 <br /> in lieu of general taxes levied for the year 1990, by the provisions of <br /> said ordinance; and, <br /> WHEREAS, the levy of said general taxes for the year 1991 as <br /> provided by said ordinance have been abated in the amount of $475,174 <br /> of which amount $234,375 is for such principal of and interest on that <br /> portion of the bonds the proceeds of which apply to said road <br /> improvementa. <br /> NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF <br /> DECATUR, ILLINOIS: <br /> Section 1. That the sum of $234,375 be, and the same is hereby, <br /> appropriated from the allotment of Motor Fuel Tax Funds of the City to <br /> pay principal and interest to become due in calendar 1991 on those bonds <br /> of the City issued to pay for the repair and refurbishing of Brush <br /> College Road and Faries Parkway Intersection. <br /> Section 2. That the City Clerk be, and she is hereby, authorized <br /> and directed to cause three certified copies of this Resolution to be <br /> transmitted to the Illinois Department of Tranaportation through the <br /> District Engineer. <br /> PRESENTED AND ADOPTED this ���day of , <br /> 1991. <br /> MAYOR \ <br /> ATTEST: <br /> � <br /> �' Y CLERK <br />
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