82-118 AUTHORIZING THE ISSUANCE OF THE CITY OF DECATUR'S INDUSTRIAL REVENUE BONDS SERIES 1982

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� � \� , , J . • ' � . � � �_� I � �'• . . Y,?,�fC'1 �;� ORDINANCE AUTHORIZING THE ISSUANCE OF THE � CITY OF DECATUR ' S INDUSTRIAL REVENUE BONDS IN AN AMOUNT NOT TO EXCEED $2 , 0OO , OGO ( BURKS PUMPS , INC . PROJECT � SERIES 1982 . WHEREAS , the C� ty of Decatur, Illinois ( the " Issuer" ) is a duly constituted and existing munic� pality within the meaning of Section 1 , Art; cle VII of the Constitution of the State of Illinois , having a population in excess of 25 , 000 and is a home rule un� t under Section 6 ( a } , Article VII of said Constitution ; and WHEREAS , the Issuer , as a home rule unit, and pursuant to Ordinance No . 5768 , duly adopted by the City Council of the Issuer on February 5 , 1973 , as supplemented and amended by Ordinance No . 7056 , duly adopted by the City Council of the Issuer on December 22 , 1975 , and Ordinance No . 79-70 , duly adopted by the City Council of the Issuer on May 21 , 1979 , (the "Enabl � ng Ordinance" ) , is authorized and empowered to � ssue � ts revenue bonds to finance the costs of "economic development projects " , as defined in the Enabling Ordinance , to the end that the Issuer may be able to rel � eve conditions of unemployment and to encourage the increase of industry w� thin the boundaries of the Issuer ; and WHEREAS , the Issuer has previously entered into a Memorandum of Ag �eement dated as of October 18 , 1982 , with Burks Pumps , Inc . ( the "Company" ) , whereby the Company agreed to acquire and operate , or to cause an entity acting on its behaif to acqu� re and operate , an exist� ng factory from the Decatur Pump Company ; and I