7201 AUTHORIZING THE FINANCING OF POLLUTION CONTROL FACILITIES (POLLUTION CONTROL REVENUE BONDS, SERIES 1976)

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- 2 - the principal, interest and redemption premiums, if any, on such revenue bonds, all as set forth in the details and provisions of the Loan Agreement hereinafter identified; and WHEREAS, it is necessary and proper for the interests and convenience of the Issuer and its inhabitants to authorize the financing of the Project, and the same is a matter pertaining to the government and affairs of the Issuer; and WHEREAS, it is necessary to authorize the execution of a Loan Agreement between the Issuer and the Company, under the terms of which the Issuer will loan the proceeds of the sale of such revenue bonds to the Company to enable it to acquire, construct and install the Project, the payments to be paid by the Company to the Issuer in repayment of the loan to be secured by the note of the Company and to be in amounts sufficient to pay at maturity or by reason of sinking fund redemption the principal, interest and redemption premiums, if any, on the revenue bonds hereinafter authorized; and WHEREAS, it is necessary for the Issuer to execute and deliver an Indenture of Trust to The Millikin National Bank of Decatur, as Trustee (the "Trustee") , for the bondholders pursuant to which the said revenue bonds will be issued; and WHEREAS, it is necessary to authorize the sale of said revenue bonds, the execution of an Agency Agreement, and delivery of a Placement Memorandum in connection therewith; and WHEREAS, the Issuer has caused to be prepared and presented to this meeting the following documents, which the Issuer proposes to enter into or authorize the delivery of: l. The form of Loan Agreement dated as of December 1, 1976, between the Issuer and the Company (the "Loan Agreement") ;