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, . a I <br /> . , . . <br /> � C� �ec�0�"�n� <br /> ORDINANCE NO, l 'I� y <br /> AUTHORIZING THE ISSUANC AND SALE OF $5,000, 000 <br /> INDUSTfiIAL DEVELOPMENT �EVENUE BONDS (TOXIGENICS, <br /> INC. PROJECT) SERIES 1g79, OF THE CITY OF DECATUR, <br /> ILLINOIS TO FINANCE THE COST OF THE ACQUSITION AND <br /> CONSTRUCTION 0�' AN ECONOMIC DEVELOPMENT PROJECT; <br /> THE EXECUTION AND DELIVERY OF AN INDENTURE OF <br /> TRUST TO SECURE SAID BONDS; THE EXECUTION AND <br /> DELIVERY OF A LOAN AGREE ENT BETWEEN TOXIGENICS, <br /> INC. AND THE CITY; AND RELATED MATTERS. <br /> * � * <br /> WHEREAS, the City of �ecatur, Illino3s (the "City") is <br /> a municipal corporation and hom� rule unit under Section 6 (a) of <br /> Article VII of the 1970 Constit�tion of the State of Illinois, <br /> authorized and empowered by the provisions of Ordinance No . 5768, <br /> as amended (the "Enabling Ordin$nce" ) , of said City to issue revenue <br /> bonds to finance in whole or inlpart the cost of the acquisition, <br /> construc�ion, reconstruction, irt�provement or extension of any <br /> "economic development pro�ect" �s defined in the Enabling <br /> Ordinance; and <br /> WHEREAS, the City hasldetermined it is necessary and <br /> advisable to fina.nce the acquis�tion and/or construction of <br /> certain land, structures, machirlery and equipment (the "Pro�ect" ) , <br /> constituting an "economic develdpment pro�ect" within the meaning <br /> of the Enabling Ordinance, for �ise by ToxiGenics, Inc. , a Delaware <br /> corporation (the "Company' ) at al site within the corporate limits <br /> of the City; and <br /> WHEREAS, it is propos�d to finance the cost of the I! <br /> Pro�ect through the issuance of Industrial Development Revenue <br /> Bonds (ToxiGenics, Ine. Pro�ect)I Series 1979 of the City in the <br /> aggregate principal amount of $5I,000,000 (the "Bonds" ) ; and <br />