5768 AUTHORIZING ACQUISITION, CONSTRUCTION AND FINANCING POLLUTION CONTROL FACILITIES AND ECONOMIC DEVELOPMENT PROJECTS

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t � ' � ' . , . ' ' ' 1/ ��-- ORDINANCE N0. � � �° O ORDINANCE AUTHORIZING ACQUISITION, CONSTRUCTION AND FINANCING POLLUTION CONTROL FACILITIES AND ECONOMIC DEVELOPMENT PROJECTS AND THE LEASE, SALE AND FINANCING THEREOF TO OR FOR ANY PERSON, AND PROVIDING FOR THE ISSUANCE OF REVENUE BONDS, AND ESTABLISHING PROCEDURES IN RESPECT THERETO. WHEREAS Section 6(a) of Article VII of the 1970 Constitution of Illinois provides that "any municipality which has a population of more than 25,000 (is) a Home Rule Unit"; and WHEREAS the City of Decatur, Illinois (the "municipality") has a population in excess of 25,000 and is therefore a Home Rule Unit; and WHEREAS it is necessary and for the best interest of the municipality to relieve conditions of unemployment, and to encourage the economic development of the municipality, thereby reducing the evils attendant upon unemployment and to provide for the increased welfare and prosperity of the residents of the municipality; and WHEREAS the issuance of industrial revenue bonds to finance in whole or in part the cost of the acquisition, purchase, construction, re- construction, improvement, equipping, betterment or extension of any economic development project in order to encourage development of the municipality is for a public purpose and is a function pertaining to the government and affairs of the municipality; and WHEREAS environmental damage seriously endangers the public health and welfare and such environmental damage often results from in- i dustrial, commercial, manufacturing or other activities conducted by ' private persons in the municipality, and that to reduce, control and prevent such damage, quality standards have been established necessitating the employment of pollution control devices, equipment and facilities and stringent time schedules have been and will be imposed for compliance with such standards; and WHEREAS it is necessary and desirable to provide for the issuance of pollution control revenue bonds to finance in whole or part the costs of the acquisition, purchase, construction, reconstruction, improvement and installation of the devices, equipment and facilities required to com- ply with such quality standards, and the method of financing through the issuance of such bonds is in the public interest and serves a public purpose in protecting and promoting the health and welfare of the citizens of this State and the municipality by reducing, controlling and preventing environmental damage and is a function pertaining to the government and affairs of the municipality; and WHEREAS the establishment of basic procedures for the issuance of industrial revenue bonds and pollution control revenue bonds is necessary and desirable to provide clarity in law and direction for subsequent actions; NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF DECATUR, MACON COUNTY, ILLINOIS, AS FOLLOWS: