86-35 PROVIDING FOR THE LEVY AND COLLECTION OF A DIRECT ANNUAL TAX SUFFICIENT TO PAY THE ANNUAL RENT

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, . . z , , ( the "Bonds") , for the purpose of paying the cost of the Project, pursuant to the pro- visions of a resolution adopted by the Com- mission on the 14th day of May, 1986, entitled: "RESOLUTION authorizing and providing for the issue of $21 , 640, 000 Public Building Revenue Bonds, Series 1986, of the Decatur Public Building Commission, Macon County, Illinois, for the purpose of acquiring a site and constructing a public building thereon and providing for the payment of said Bonds. " the resolution hereinafter referred to as the "Bond Resolution, " and the provisions of which are made a part hereof by reference. 2. The Commission shall immediately upon the sale of the Bonds herein provided for , or upon the sale of such portion thereof deemed necessary by the Commission, take the proceeds therefrom and apply and use the same pursuant to the terms of the Act and the Bond Resolution. 3 . The Commission shall to the extent it deems feasible, utilize the preliminary plans, studies and construction specifica- tions heretofore approved, and as soon as practicable enter into and execute such con- tracts as may be required for the construc- ' tion of the Project . 4. The Commission shall require and procure from the contractor or contractors undertaking construction of any part of the Project, in addition to any other bonds which may be required under the terms of the Act and other applicable laws of the State of Illinois, a performance and payment bond or bonds payable to the Commission, with a cor- porate surety authorized to do business under the laws of the State of Illinois, in such form as may be approved by the Commission and to be in an amount not less than the amount of the particular contract or contracts, such -4-