82-25 AUTHORIZING, APPROVING, RATIFYING AND CONFIRMING CERTAIN ADDITIONS AND CHANGES TO ECONOMIC DEVELOPMENT REVENUE BONDS (BRETTWOOD VILLAGE ASSOCIATES PROJECT)

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THE CITY The City is a municipality qualifying as a home rule unit and, under the provisions of Article VII, Section 6(a) of the 1970 Constitution of Illinois and an enabling ordinance adopted by the Council of the City on February 5, 1973 as amended by an ordinance adopted December 22, 1975, may authorize the issuance of revenue bonds to finance "economic development projects" as defined in said ord inance. The City, the county seat of Macon County, has a population of 94,081 (1980 U.S. Census). The City is located approximately 40 miles east of Springfield, Illinois, 180 miles southwest of Chicago, Illinois, and 110 miles northeast of St. Louis, Missouri. The economy of the City is characterized by both agriculture and industry. UNDERWRITING The Underwriter has agreed to purchase the Bonds from the City pursuant to the Bond Purchase Agreement at s price equal to 97.6� of the aggregate principal amount thereof, plus accrued interest. The Underwriter is committed to purchase all of the Bonds if any are purchased. The obligation of the Underwriter to accept delivery of the Bonds is subject to various conditions contained in the Bond Purchase Agreement. The Underwriter intends to offer the Bonds to the public initially at the offering price set forth on the cover page of this Official Statement, which offering price may subsequently change without any requirement of prior notice. The Underwriter reserves the right to join with dealers and other underwriters in offering the Bonds to the public. The Underwriter may offer and sell Bonds to certain dealers at prices lower than the public offering prices. The Partnership has agreed to indemnify the Underwriter and the City against certain civil liabilities, including certain liabilities under the Federal securities laws. ABSENCE OF MATERIAL LITIGATION To the best of the knowledge of the City, there is no litigation pending seeking to restrain or enjoin the issuance or delivery of the Bonds, or questioning or affecting the legality of the Bonds or the proceedings and authority under which the Bonds are to be issued, or which in any manner questions the right of the City to enter into the Indenture and the Loan Agreement, or to issue the Bonds. The Partnership will certify that there is no litigation pending that in any manner questions the right of the Partnership to operate the Project in accordance with the provisions of the Indenture or the Loan Agreement. 36