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� <br /> � . .,� f �� <br /> . ; � , <br /> ORDINANCE NO. �j �I <br /> 1�UTHORIZING THE SALE, ISSUAi�CE AND <br /> � DELIVERY OF PROJECT NOTES AND TH� EXECUTIOPJ <br /> OF REQUISITION AGi:EE:-1EivT5 <br /> �^dFIEP.E��S, i�112 City of Decatur, Decatur, Illinois (herein called <br /> the "Local Issuing �gency" ) is undertaking the d�velopment and/or <br /> operation of one or rnore urban renewal , low-rent housing or reclevelop- <br /> *�ent projects and may engage in auch undertakings in respect to <br /> additional projects all pursuant to t�ie terms of one or more contracts <br /> (which contracts and any contract in substitution thereof, together <br /> with any supplements thereto or amendments or waivers of any provi- <br /> sions thereof , are herein call the "Contract") witn the United States <br /> of America (herein called the "Government") providing for a loan by <br /> the Government to the Local Issuing Agency for financing the urban <br /> renewal, low-rent housing or redevelopment project (s) describe3 in <br /> the Contract and herein called the "Project" ; and <br /> WHEREAS, tYie Local Issuing Agency proposes to obtain loans from <br /> others than the Government in anticipation of the delivery of notes <br /> to the Government, which loans shall be evidenced by negotiable <br /> short-term notes of the Local Issuing Agency (tierein called "Project <br /> Notes") ; and <br /> 6�iEREAS , the Local Agency proposed to issue Project Notes as <br /> hereinafter provided: <br /> NOW, THEREFORE, BE IT ORDAINED by the Council of the City of <br /> Decatur, Illinois: <br /> Section 1. For the purpose of providing funds to pay expenses <br /> incurred or to be incurred pursuant to the Contract or to refund, <br /> renew or extend its outstanding Notes issued in connection tlierewith, <br /> the Local Issuing Agency hereby determines to issue its Project <br />