93-56 AUTHORIZING AND APPROVING THE ISSUANCE OF NOT TO EXCEED $10,000,000 ... ILLINOIS REVENUE REFUNDING BONDS

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WHEREAS, in accordance with Section 147(� of the Internal Revenue Code of 1986 (the "Code"), following reasonable notice to the public describing the Series 1993 Bonds, identifying the party to whom the Series 1993 Bond proceeds are being lent, identifying the use of the Series 1993 Bond proceeds and specifying the maximum amount of revenue bonds to be issued by the City and loaned to the Corporation, this Council of the City of Decatur, Macon County, Illinois (the "City Council") held a public hearing on May 24, 1993 at which all taxpayers, residents or other interested persons were given an opportunity to express their views for or against the proposed financing; NOW, THEREFORE, BE IT ORDAINED by the Council of the City of Decatur, Macon County, Illinois, as follows: SECTION 1. Exercise of Home Rule Powers. The City is a home rule unit under the provisions of the 1970 Constitution of Illinois, and as a home rule unit may, under the powers granted by Section 6(a) of Article VII thereof, "exercise any power and perform any function pertaining to its government and affairs." This Ordinance is adopted pursuant to the City's home rule powers, any provisions contained in the Illinois Municipal Code to the contrary notwithstanding. SECTION 2. Findings. The issuance of the Series 1993 Bonds for the purpose of lending the proceeds thereof to the Corporation to be used to (i) advance refund the Series 1988 Bonds, (ii) advance refund the Series 1991 Bonds, (iii) establish a debt service reserve fund for the benefit of the Series 1993 Bonds and (iv) pay certain costs incurred in connection with the issuance of the Series 1993 Bonds and the advance refunding of the Series 1988 Bonds and the Series 1991 Bonds, including as a part of such costs all or a portion of the costs of related fiscal, legal and other incidental costs and charges, pursuant to -3-