6048 ESTABLISHING PROCEDURES TO BE FOLLOWED IN INCURRING INDEBTEDNESS FOR CORPORATE PURPOSES, ISSUING BONDS TO EVIDENCE SUCH INDEBTEDNESS AND AUTHORIZING AND DIRECTING THE LEVYING OF TAXES

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� j � ��„ . . - 4 Upon the adoption of any Bond Ordinanae by the City of Decatur and its being signed by the Mayor or any tw�o Councilmen, the same shall be pub7.ished in a ne wspaper published and of general circula- tion in the City of Decatur, and said ordinance shall become effec- tive ten days after the date of such publication. Section 7. Any bonds authorized and issued pursuant to the pro- visions of any Bond Ordinance adopted pursuant to the provisions hereof and also any bonds issued and outstanding, which by their terms axe payable from taxes unlimited as to rate or amount and levied against all the taxable property within the City of Decatur, may be refunded prior to their maturity or at their maturity, and including the Yefunding of matured interest coupons evidencing interest upon such unpaid bonds. Such refundinq shall be by the issuance of refunding bonds to be authorized by a Refunding Bond Ordinance w�ich shall be adopted in the manner and subject to the terms, conditions and provi- sions as herein required for the issuance of bonds for public purposes. Any such refunding shall be issued on the basis of an exchange of par for par for bonds and matured interest caupons to be refunded, or such refunding bonds shall be sold at not less than par and the proceeds thereof be used for the purpose of paying maturing principal and matured interest coupons on such outstanding bonds as they become due. Section 8. Pursuant to the authority granted by Section 6 of Article VII of the Constitution of Illinois 1970, the procedures here- by established for the issuance of full faith and cre dit bonds, also known as general obligation bands, as herein provided for, shall be con- trolling and sha11 be complied with by the City of Decatur in the borrow- ing of money through the issuance of general obligatiari bonds of the City notwithstanding anything to the contrary contained in the provisions of the "Illinois Municipal Code" and all acts amendatory the re of and supplementary the reto and any other law or laws of the State of I1linois. Section 9. That this ordinance shall be in full force and effect immediately upon its passage. PRESENTfiD, PASSED, APPROVED & RfiCORDED this ��ay of �� , 197 S . r ,MAY71� ATTfiST: . , . \ � - Q. CITY CL RK