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� ' MlCRQfILMEQ <br /> , ORDINANCE NO. 85-96 <br /> AN ORDINANCE PROVIDING FOR THE FINANCING BY <br /> THE CITY �F DECATUR, ILLIDTOIS, OF AN INDUS- <br /> TRIAL PROJECT IN ORDER THAT PERSHING <br /> DEVELOPMENT CONiPANY, AN ILLINOIS LIMITED <br /> PARTNERSHIP, MAY BE PROVIDED WITH FACILITIES <br /> TO ENCOURP,GE DEVELOPMENT OF THE CITY OF <br /> DECATUR: AUTHORIZING AND PROVIDING FOR THE <br /> ISSUANCE BY SAID CITY OF DECATUR, ILLINOIS OF <br /> ITS $5, 500 ,000 INDUSTRIAL PROJECT REVENUE <br /> BONDS (PERSHING DEVELOPMENT COMPANY PROJECT) <br /> �JHICH WILL BE PAYABLE SOLELY FROM THE RE- <br /> CEIPTS FROM A LOAN AGREEMENT AND OTHER <br /> SOURCES THEREIN MENTIONED: AUTHORIZING THE <br /> EXECUTION AND DELIVERY OF AN ASSIGYIMENT AND <br /> AGREEMENT: CONFIRMING SALE OF THE BONDS TO <br /> THE PURCHASER THEREOF: AND RELATED MATTERS. <br /> WHEREAS, the City of Decatur, Illinois (the "Issuer") <br /> is authorized and empowered by the home rule provisions of <br /> Section 6 of Article VII of the Constitution of Illinois as <br /> implemented by Ordinance No. 5768 of the Issuer' s City Council , I <br /> as from time to time supplemented and amended (the "Enabling <br /> Grdinance" ) , to finance in whole or in part the cost of the <br /> acquisition, purchase , construction, reconstruction, improvement, <br /> equipping, betterment or extension of economic deveLopment <br /> projects in order to encourage develogment in the City of <br /> Decatur, Illinois and achieve one or more of the public policy <br /> purposes set forth in the Enabling Ordinance; and <br /> WHEREASr the Project will increase employment oppor- <br /> tunities, retain employment opportunities , encourage and increase <br /> corimerce and industry and promote the health, safety and welfare <br /> within the City of Decatur, Illinois; and <br /> VJ�iEREAS, the Issuer proposes to sell the revenue bonds <br /> hereinafter authorized upon a negotiated basis. <br />