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86-35 PROVIDING FOR THE LEVY AND COLLECTION OF A DIRECT ANNUAL TAX SUFFICIENT TO PAY THE ANNUAL RENT
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86-35 PROVIDING FOR THE LEVY AND COLLECTION OF A DIRECT ANNUAL TAX SUFFICIENT TO PAY THE ANNUAL RENT
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Last modified
8/29/2016 10:02:21 AM
Creation date
8/29/2016 10:02:19 AM
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Resolution/Ordinance
Res Ord Num
86-35
Res Ord Title
PROVIDING FOR THE LEVY AND COLLECTION OF A DIRECT ANNUAL TAX SUFFICIENT TO PAY THE ANNUAL RENT PAYABLE UNDER A LEASE ENTERED INTO AMONG THE DECATUR PUBLIC BUILDING COMMISSION, THE COUNTY OF MACON, AND THE CITY OF DECATUR...
Approved Date
5/12/1986
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' � t <br /> ' t � � <br /> as follows: <br /> All of Block 7 of South Addition to Decatur, <br /> as per Plat recorded in Book G page 553 of the <br /> Records in the Recorder ' s Office of Macon <br /> , County, Illinois. <br /> WHEREAS, the fee simple title to the above-described <br /> premises has heretofor been or hereafter will be deeded to the <br /> Commission by the City and the County; and <br /> WHEREAS, the preliminary plans and studies dated <br /> January 1, 1985 and revised February 4, 1985 for the Project, <br /> have heretofore been prepared by Patrick + Associates, Columbus, <br /> Ohio, which preliminary plans and studies have heretofore been <br /> approved by the Commission, the County and the City, and are now <br /> on file for public inspection in the office of the Secretary of <br /> the Commission; and ' <br /> WHEREAS, the total cost of the Project, including site <br /> acquisition, architectural, engineering, construction management, <br /> legal and financing costs, is estimated to be $18,600,000, which <br /> sum is to be provided for by the issuance and sale of revenue <br /> bonds by the Commission and interest earnings in the <br /> Construction Fund, such revenue bonds to be issued and sold <br /> pursuant to the terms and conditions of the Act and Bond Resolu- <br /> tion and in the aggregate principal sum of $21,640,000; and <br /> WHEREAS, to provide the necessary revenues for the pay- <br /> ment of said bonds, for the payment of all interest that may <br /> accrue on said bonds, for the payment of costs of administration <br /> and operation and for the funding of the Bond Reserve Account and <br /> -2- <br />
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