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. <br /> , � <br /> RESOLUTION NO. R �l� � ' � � <br /> RESOLUTION TRANSFERRING AND REALLOCATING THE <br /> AGGREGATE REMAINING, UNUSED ALLOCATION OF THE <br /> PRIVATE ACTIVITY BONDS OF THE CITY OF DECATUR TO THE <br /> ILLINOIS DEVELOPMENT FINANCE AUTHORITY, WITH RESPECT <br /> TO THE ISSUANCE OF PRIVATE ACTIVITY BONDS BY THE <br /> AUTHORITY TO FINANCE INDUSTRIAL, MANUFACTURING, <br /> AND COMMERCIAL PROJECTS IN ORDER TO PROMOTE ECONOMIC <br /> DEVELOPMENT THROUGHOUT THE STATE OF ILLINOIS <br /> WHEREAS, the City of Decatur (the "Home Rule Unit" ) is a <br /> home rule unit of government duly organized and validly existing <br /> under Article VII of the 1970 Constitution and laws of the State <br /> of Illinois; and, <br /> WHEREAS, the availability of job opportunities to relieve <br /> conditions of unemployment and underemployment and the increase <br /> of business and commerce to reduce the evils associated with <br /> unemployment and underemployment are essential to the health, <br /> safety and general welfare of the Home Rule Unit and the other <br /> inhabitants of the State of Illinois; and, <br /> WHEREAS, pursuant to its corporate powers as a political <br /> subdivision, body politic and corporate validly existing under <br /> the Illinois Development Finance Authority Act, I11. Rev. Stat. <br /> 1987 , Ch. 48, Par. 850 . 01 et seq. , as amended (the "Act") , the <br /> Illinois Development Finance Authority (the "Authority") is <br /> authorized to issue tax-exempt private activity bonds to finance <br /> industrial, manufacturing and commercial projects for economic <br /> development purposes; and, <br /> WHEREAS, Section 146 of the Internal Revenue Code of 1986 <br /> (the "Code") and Section 1301 of the Tax Reform Act of 1986 place <br /> a ceiling (the "State Ceiling") on the aggregate principal amount <br /> of private activity bonds (as defined in the Code) that can be <br /> issued in the State of Illinois from January 1 , 1989 to and <br /> including December 31, 1989; and, <br /> WHEREAS, the Home Rule Unit' s portion of the State Ceiling <br /> at $50 per capita equals $4,518,000 (the "Available Ceiling") ; <br /> and, <br /> WHEREAS, the Home Rule Unit has issued private activity <br /> bonds to which portions of the Available Ceiling have been <br /> allocated in the aggregate principal amount of $0 . 00 from January <br /> l, 1989 through the date of adoption of this Resolution; and, <br />