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�, <br />' � � . . <br /> • auserl/illdgw/730796-a/5/081991 <br /> , <br /> . <br /> ORDINANCE NO. 91-58 <br />� AN ORDINANCE providing for the issue of <br /> General Obligation Bonds, Series 1991, of <br /> the City of Decatur, Illinois, and for the <br /> levy and collection of a direct annual tax <br /> sufficient to pay the Compound Accreted <br /> Value of, principal of and interest on said <br /> bonds and authorizing certain other matters <br /> in connection therewith. <br /> * * * * * <br /> WHEREAS, the City of Decatur ( the "City" ) is a body <br /> politic and corporate under the laws of the State of Illinois and <br /> a home rule unit under Article VII of the Illinois Constitution <br /> of 1970; and <br /> WHEREAS, the City has determined that it is necessary i <br /> and in the best interests of the City that the following improve- <br /> ments be made in and for the City: ( i ) dredging a northerly <br /> portion of Lake Decatur and other capital projects and ( ii ) <br /> reimbursing the City for previous capital expenditures paid for <br /> from funds of the City and as described in the report of the <br /> Financial Management Department Director now on file with the <br /> City Clerk ( the "Projects" ) . <br /> WI3EREAS, it is deemed to be necessary, essential and in <br /> the best interests of the inhabitants of the City and necessary <br /> for the welfare of the government and affairs of the City to <br /> provide for the financing of the Projects; and <br /> WHEREAS, the cost of financing the Projects is esti- <br /> mated to be not less than $18,000,000, and the City expects to <br /> pay such cost by borrowing such money and issuing its bonds in <br /> evidence thereof as hereinafter provided; and <br />