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- �� CITY OF DECATUR • ILLINOIS <br /> _ tf1 CIVIC CENTER PLAZA DECATUR, ILLINOIS 62523 <br /> .< < <br /> ,o' <br /> �.�..•� <br /> March 16 , 1982 <br /> Mr. Paul J. Ivankovig, President <br /> Millikin Mortgage Company <br /> P .O. Box 1029 <br /> Decatur, IL 62525 <br /> Dear t�ir. Ivankovig: <br /> In Re : P�ortgage Revenue Bond- <br /> Mortgage Assumption <br /> I requested r1r. Hilmer C. Landholt, Corporation Counsel, <br /> to review your request relating to increasing the income . <br /> linit to $50 ,000 . 00 <br /> Mr. Landholt is of the opinion Section 5 . 11 which con- - <br /> tains the following: - <br /> " [other than the maximum limitation <br /> set forth in Section 4. 08] (ii) " <br /> excludes the $40 ,000 maximum incone Iimit in determining <br /> eligibility to assume an existin� mortgage. <br /> Mr. Landholt suggests that the matter should also be <br /> taken up with the Custodian which may interpret the Agree- <br /> ment differently. <br /> If you have not discussed this matter with the Custodian, <br /> I would suggest that you do so. <br /> Please let me know the results of your discussions with <br /> representatives of the Custodian. If Custodian does not <br /> concur with Mr. Landholts opinion, I will be happy to con- � <br /> sider and recommend revisions necessary to raise income <br /> limit to $50 ,000.00 <br /> Very truly yours , <br /> CITY OF DECATUR <br /> Leslie T. Allen, <br /> City Manager <br /> LTA:cmf <br />