7200 AUTHORIZING THE FINANCING OF INDUSTRIAL FACILITIES (ECONOMIC DEVELOPMENT REVENUE BONDS, SERIES 1976)

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. • i+ � MICROFlLMED ORDINANCE NO.� C� (� AN ORDINANCE AUTHORIZING THE FINANCING OF INDUSTRIAL FACILITIES AND RELATED PROPERTY CONSTITUTING A "PROJECT" WITHIN THE MEANING OF ORDINANCE NO . 5768, AS AMENDED; AUTHOR- IZING THE ISSUANCE OF $1,000,000 ECONOMIC DEVELOPMENT REVENUE BONDS, SERIES 1976 (STALEY PROJECT) IN CONNECTION THEREWITH; AUTHORIZING THE EXECUTION AND DELIVERY OF A LOAN AGREEMENT BETWEEN THE CITY OF DECATUR, MACON COUNTY, ILLINOIS AND A. E . STALEY MANUFACTURING COMPANY; AUTHORIZING THE EXECUTION AND DELIVERY OF A TRUST INDENTURE SECURING SAID BONDS; AND AUTHORIZING THE EXECUTION OF AN AGENCY AGREEMENT PROVIDING FOR THE SALE OF SAID BONDS , THE DELIVERY OF A PLACEMENT MEMORANDUM IN CONNECTION THEREWITH, AND RELATED MATTERS. � WHEREAS, pursuant to Ordinance No. 5768 duly adopted by the Council of the City of Decatur, Macon County, Illinois (hereinafter referred to as the "Issuer") on February S, 1973, as amended by various ordinances (collectively the "Enabling Ordinance") , the Issuer is authorized to issue its revenue bonds to defray in whole or in part the costs of any "project, " as defined in the Enabling Ordinance for the purpose set forth therein; and WHEREAS , as a result of negotiations between the Issuer and A. E . Staley Manufacturing Company (hereinafter sometimes referred to as the "Company") , and in reliance upon a Memorandum of Agreement between the Issuer and the Company dated February 26, 1973, as amended, the Company has entered into contracts for the acquisition and installation of certain industrial facilities (hereinafter referred to as the "Project") , which constitute an "economic development project" within the meaning of the Enabling Ordinance and which will be of the character and accomplish the purposes provided by the Enabling Ordinance, and the Issuer is willing to issue its revenue bonds to finance the cost of the Project and to t