Laserfiche WebLink
, . <br /> , , • <br /> "AN ORDINANCE establishing procedures to be <br /> followed in incurring indebtedness for corporate <br /> purposes, issuing non-�referendum bonds to evidence <br /> such indebtedness and authorizing and directing the <br /> levying of a tas, without limit as to rate or <br /> amount, for the purpose of payinq principal and <br /> interest on such bonds as the same become due." <br /> and which said Ordinance is in full force� and effect; and <br /> WHEREAS it is deemed necessary and for the best inter- <br /> ests of the inhabitants of said City, and in order to promote and <br /> protect the public health, safety and welfare of the inhabitants <br /> and citizens of said City, that it borrow money for the purpose <br /> of paying (i) a part of the cost of a necessary dredging of the <br /> Faries Park Basin and ( ii) a part of the cost of road improve- <br /> ments to improve the traffic flow and safety at the Brush College <br /> Road and Faries Parkway intersection (collectively the "Pro- <br /> ject") , all in accordance with preliminary plans and estimates on <br /> file and approved by the Council and available in the office of <br /> the City Clerk for public inspection and which show and identify <br /> the proposed work; and <br /> WSEREAS it is necessary for that purpose that such sum <br /> be borrowed at this time and in evidence of such indebtedness <br /> general obligation bonds of the City be issued in the principal <br /> amount of $4,900,000, and that such indebtedness be incurred in <br /> accordance with the home rule powers of the City and the Enabling <br /> Ordinance, as aforesaid, and without submitting the question of <br /> incurring such indebtedness to the electors of said City for <br /> their approval; <br /> NOW THEREFORE Be It Ordained by the Council of the City <br /> of Decatur, Macon County, Illinois, in the exercise of its home <br /> rule powers, as follows: <br /> -2- <br />