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----___�_. �.�...L=:-: - �. :. _ � ..____ � . <br />- - ; : <br /> , <br /> 4 <br /> � .• V <br /> � �I��� <br /> ORDINANCE N0. 7170 <br /> AN ORDINANCE AUTHORIZING THE FINANCING OF � <br /> POLLUTION CONTROL FACILITIES AND RELATED PROPERTY <br /> CONSTITUTING A "PROJECT" WITHIN THE MEANING OF <br /> ORDINANCE N0. 5768, AS AMENDED; AUTHORIZING <br /> THE ISSUANCE OF $6,335,000 POLLUTION CONTROL <br /> REVENUE BONDS (ARCHER-DANIELS-MIDLAND COMPANY <br /> PROJECT) SERIES 1976 IN CONNEC;TION THEREWITH; <br /> AUTHORIZING THE EXECUTION AND DELIVERY OF A LOAN <br /> AGREEMENT BETWEEN THE CITY OF DECATUR, MACON <br /> COUNTY, ILLINOIS AND ARCHER-DANIELS-MIDLAND <br /> COMPANY; AUTHORIZING THE EXECUTION AND DELIVERY <br /> OF AN INLE�±TURE OF TRUST SECURING SAID BONDS; AND <br /> AUTHORIZING THE EXECUTION OF A BOND PURCHASE <br /> AGREEMENT PROVIDING FOR THE SALE OF SAID BONDS � <br /> TO THE PURCHASERS ThEREOF, AN OFFERING MEMORANDUM <br /> IN CONNECTION THEREWITH AND RELATED MATTERS. . <br />� WHEREAS, pursuant to Ordinance No. 5768 duly adopted by <br /> the Council of the City of Decatur, Macon County, Illinois (herein- <br /> after referred to as the "Issuer") on February 5, 1973, as amended <br /> by various ordinances (collectively the "Enabling Ordinance") , the <br /> Issuer is authorized to issue its revenue bonds to defray in whole <br /> or in part the costs of any "pro,ject" , as defined in the Enabling <br /> 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 A�reement <br /> between the Issuer and the Company dated March 29, 1�76, as <br /> amended, the Company has entered into contracts for the acquisition, <br /> construction and installa`.ion of certain pollution control facili- <br /> ties and sewage f;�cilities (hereinafter referred to as the "�roject" ) , <br /> which constitute a "pollution control facility" within the meaning <br /> of the Enabling Ordinance and �zhich will be of the character and <br /> accomplish the purposes provided by the Enabling Ordinance, and ' <br /> the Issuer is willing to issue its revenue bonds to finance the <br /> cost of the Pro�ect and to enter into a loan agreement with the <br /> Company upon terms which will produce revenues and receipt sufficient <br /> • to provide for the prompt payment at maturity of the principal, ' <br /> :� <br />