Laserfiche WebLink
for the welfare of the government and affairs of the City, is <br /> for a proper public purpose and is in the public interest; <br /> NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE <br /> CITY OF DECATUR, ILLINOIS: <br /> Section l. That it is deemed advisable, necessary and <br /> for the welfare of the government and affairs of the City, and it <br /> is in the public interest of the City and the public welfare of <br /> its citizens and its inhabitants that $2,550,000 be borrowed at <br /> this time for the purpose of paying the cost of the Pro�ects, as <br /> referred to and described in the preambles hereof, and such <br /> Pro�ects are deemed necessary to serve the public welfare and <br /> � needs of the inhabitants within the City, and in evidence thereof <br /> bonds of said City in the principal amount of $2,550,000 be <br /> issued without the submission of the question of their issuance <br /> to the electors of the City for their approval. That said bonds <br /> shall be dated December l, 1982, shall be designated "General <br /> Obligation Bonds, Series of December, 1982" , shall be numbered <br /> consecutively from 1 to 510, inclusive, shall be of the denomina- <br /> tion of $5,000 each, and shall become due serially on January 1 <br /> of each of the years and in the amounts and bearing interest per <br /> annum as follows : <br /> Year Amount Rate of Interest <br /> 1984 �120,00o i2. 00. � <br /> 1985 120,000 12. 00 <br /> 1986 120,000 12. 00 <br /> 1987 250,000 9 . 00 <br /> 1988 300,000 7. 70 <br /> 1989 325,00o s . io <br /> 1990 350,00o s . 3o <br /> —3— <br />