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� a ' <br /> r; � ., ' <br /> : ' <br /> M�(;ROf ILMED <br /> ORDPNANCE N0. 7171 <br /> AN ORDINANCE AUTHORIZING THE FINANCING OF <br /> INDUSTRIAL FACILITIES AND RELATED PROPERTY <br /> CONSTITUTING A "PROJECT" WITHTN THE MEAN- <br /> ING OF ORDINANCE N0. 5768 , AS AMENDED; <br /> AUTHORIZING THE ISSUANCE OF $1, 000, 000 <br /> INDUSTRIAL DEVELOPMENT REVENUE BONDS (ARCHER- <br /> DANIELS-MIDLAND COMPANY PROJECT} IN CONNEC- <br /> TION THEREWITH; AUTHORIZING THE EXECUTION ' <br /> AND DELNERY OF A LOAN AGREEMENT BETWEEN <br /> , THE CITY OF ,DECATUR, MACON COUNTY, ILLINOIS. <br /> ' AND ARCHER-DANIELS-MIDLAND COMPANY; <br /> AUTHORIZING THE EXECUTION AND DELIVERY OF <br /> AN INDEN�UiiE OF TRUST SECURING SAID BONDS; <br /> AND AUTHORIZING THE EXECUTION OF A BOND PUR- <br /> CHASE AGREEMENT PROVIDING FOR THE SALE OF <br /> SAID BONDS TO THE PURCHASERS THEREOF,, AN <br /> OFFERING MEMORANDUM IN CONNECTION THEREWITH <br /> AND RELATED MATTERS. <br /> WHEREAS, pursuant to Ordinance No . 5768 duly adopted by <br /> the Council of the City of Decatur, Macon County, Illinois (here- <br /> inafter referred to as the "Issuer") on February 5, 1973 , as amended <br /> by various ordinances (collectively the "Enabling Ordinance" ) , <br /> the Issuer is authorized to issue its revenue bonds to defray in <br /> whole or in part the costs of any "pro�ject" , as def ined in the <br /> Enabling Ordinance for the purpose set forth therein; and <br /> WHEREAS, as a result of negotiations between the Issuer <br /> and Archer-Daniels-Midland Company (hereinafter sometimes referred <br /> to as the "Company") , and in reliance upon a Memorandum of Agree- <br /> ment between the Issuer and the Company dated March 29, 197;6 , <br /> as amended, the Company has entered into contracts for the acquisi- <br /> tion, construction and installation of certain industrial facilities <br /> (hereinafter referred to as the "Pro,ject") , which constitute a <br /> "economic development pro�ect" within the meaning of the Enabling <br /> Ordinance and which will be of the character and accomplish the pur- <br /> , <br /> poses provided by the Enabling Ordinance, and the Issuer is willing <br /> to issue its revenue bonds to finance the cost of the Pro�ect and <br /> to enter into a loan agreement with the Company upon terms which <br /> will produce revenues and receipts sufficient to provide for the <br />