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WHEREAS , the City Council of the Issuer did approve the <br /> fo�m of said Memorandum of Agreement by resolutionduly adopted on <br /> October 18 , 1982 ; and <br /> , WHEREAS , as a result of negotiations between the Issuer <br /> and the Company contracts have been entered into by the Company , <br /> fo � the acquisition of exist� ng buildings principally constituting <br /> a factory ( the "Project" ) within the boundaries of the Issuer, to <br /> . be owned by the Company , and it is proposed that the Issuer shall <br /> enter into a Loan Agreement ( the "Agreement" ) with the Company <br /> dated as of December 1 , 1982 pursuant to which the Issuer shall <br /> lend the Company a sum sufficient to accomplish such acquisition , <br /> and the Issuer is willing to issue its revenue bonds to finance <br /> the Project upon terms which will be sufficient to pay a portion <br /> of the cost of the acquisition of the Project as evidenced by <br /> such revenue bonds , all as set forth in the details and provisions <br /> of the Agreement ; and <br /> WHEREAS , it is estimated that the costs of the Project , <br /> including costs relating to the preparation and issuance of the <br /> revenue bonds , will be not less than $2 , 000 , 000 ; and <br /> WHEREAS , the Project will be of the character and will <br /> accomplish the purposes provided by the Enabling Ordinance , and <br /> will maintain and should create additonal employment opportunities <br /> in the City of Decatur, Illinois ; and <br /> WHEREAS , the Issuer proposes to sell the revenue bonds <br /> hereinafter authorized and designated " Industrial Development <br /> Revenue Bonds ( Burks Pumps , Inc . Project ) Series 1982" upon a <br /> negotiated basis to the Purchaser named in the hereinafter described <br /> Bond Purchase Agreement ; <br /> -2- <br />