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' � � �;i�i�C��IL�o�D <br /> WHEREAS, long term interest rates have declined since <br /> the issuance of the Outstanding Bonds; and <br /> WHEREAS, it is deemed to be necessary, essential and <br /> for the best interests of the inhabitants of the City and neces- <br /> sary for the wel.fare of the government and affairs of the City <br /> to refund the Outstanding Bonds in order to reduce the interest <br /> costs of the City; and <br /> WHEREAS, in order to reduce such interest costs it <br /> will be necessary to call the Outstanding Bonds maturing on or <br /> after January 1, 1998, for redemption and payment prior to <br /> maturity on their earliest possible call date on January 1, <br /> 1997; and <br /> WHEREAS, the City expects to pay a part of the cost of ' <br /> refunding the Outstanding Bonds by borrowing money and issuing I <br /> its general obligation bonds in evidence thereof; <br /> WHEREAS, it is hereby found and determined that such <br /> borrowing of money is necessary for the welfare of the government <br /> and affairs of the City, is a proper public purpose and is in <br /> the pubiic interest, that full faith and credit bonds in the <br /> principal amount of $12 ,760 ,000 be issued and that such indebted- <br /> ness be incurred without submitting the question of incurring <br /> such indebtedness to the eiectors of the City for their approval: <br /> NOW, THEREFORE, Be It Ordained by the Council of the <br /> City of Decatur, Macon County, Illinois, as fol.lows : <br /> -3- <br />