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` ;. . <br /> ° � �► <br /> . � ,� <br /> ,�IIlCRO�t,MED <br /> ORDINANCE N0. �' <br />' ORDINANCE AUTHORIZING PROVISION OF HOME RULE <br /> MORTGAGE FIAtANCING AND PROVIDING ISSUANCE OF <br />' REVENUE BONDS TO FUND THE SAME AND ESTABLISHING <br /> PROCEDURES IN RESPECT THERETO <br /> WHEREAS, Section 6 (a) of Article VII of the 1970 Constitution <br /> of Illinois provides that any municipality which has a population <br /> of more �han 25, 000 is a home rule unit and may exercise any power <br /> and perform any function pertaining to its government and affairs; <br /> and, <br /> WHEREAS, the City of Decatur, Illinois , has a population in <br /> excess of 25, 000 and is therefore a home rule unit; and, <br /> WHEREAS, the availability of decent, safe and sanitary housing <br /> that most people can afford is essential to retain and increase <br /> industrial and commercial activities and relieve conditions of <br /> unemployment in the municipality; and, <br /> WHEREAS, the shortgage of decent, safe and sanitary housing <br /> that most people can afford is not transitory and self-curing; <br /> the cost of financing such housing is a major and substantial <br /> factor affecting the supply and cost of decent, safe and sanitary <br /> housing built by private enterprise; and the revenue bonds provided <br /> for in this Ordinance will substantially lower the cost of such <br /> financing; and, <br /> WHEREAS , it is necessary and desirable to provide for <br /> the issuance of revenue bonds to provide funds for the financing <br /> of decent, safe and sanitary housing within the municipality and <br /> financing through the issuance of such bonds is in the public <br /> �nterest and serves a public purpose by providing financing for <br /> decent, safe and sanitary housing that most people can afford <br /> and is a function pertaining to the government and affairs of the <br /> municipality; and, <br /> WHEREAS, the establishment of basic proczdures for the issuance <br /> of revenue bonds to finance the costs of home owr.ership is necessary <br /> and desirable to provide clarity in law and direction for <br /> subsequent actions; <br /> NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF <br /> DECATUR, ILLINOIS: <br /> Section 1 . Definitions . Whenever used in this Ordinance each <br /> of the following shall have the meaning indicated unless a different <br /> meaning clearly appears from the context: <br />_ - � - <br />