R89-10 APPROPRIATING FUNDS FOR PAYMENT OF PRINCIPAL OF AND INTEREST ON GENERAL OBLIGATION BONDS

Home Browse Search

� o� ��'��.�� RESOLUTION N0. / - � RESOLUTION APPROPRIATING FUNDS FOR PAYMENT OF PRINCIPAL OF AND INTEREST ON GFNERAL OBLIGATION BONDS - GARFIELD OVERPASS WHEREBY, by Ordinance No . 82-117 passed and approved December 7, 1982 , bonds of the City were issued and funds appropriated , among other things , for the repair and refurbishing of the railroad overpass on East Garfield Avenue in the City; and , WHEREAS, a copy of said ordinance has been filed with the Illinois Department of Revenue ; and, WHEREAS, the Council finds it to be in the best interests of the City to apply Motor Fuel Taxes allocated to the City in payment of the principal of and interest on said bonds to become due in calendar 1990 in lieu of general taxes levied for the year 1989 , by the provisions of said ordinance ; and , WHEREAS, the levy of said general taxes for the year 1989 as provided by said ordinance have been abated in the amount of $446 , 550. 00 of which amount $232 , 206 . 00 is for such principal of and interest on that partion of the bonds the proceeds of which apply to said repair and refurbishing . NOW, THEREFORE , BE IT RESOLVED BY THE COUNCIL OF THE CITY OF DECATUR, ILLINOIS: Section 1. That the sum of $232 , 206 . 00 be , and the same is hereby, appropriated from the allotment of Motor Fuel Tax Funds of the City to pay principal and interest to become due in calendar 1990 on those bonds of the City issued to pay for the repair and refurbishing of Garfield Overpass as aforesaid . Section 2 . That the City Clerk be , and she is hereby, authorized and directed to cause three certified copies of this Resolution to be transmitted to the Illinois Department of Transportation through the District Engineer . PRESENTFD AND ADOPTED this I day of , 1989 . 6�'� � r / Cl��'C2� '-� � � MAYOR �, � 1 �`' U �L �- ATTEST: . CIT C ERK