5734 AUTHORIZING THE ISSUANCE OF PROJECT LOAN NOTES IN CONNECTION WITH URBAN RENEWAL PROJECT NO. ILL. R-100

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� ,� �' ll ORDINAI�E NO. S��3y AN ORDINANCE AUTHORIZING THE ISSUANCE OF PROJECT LOAN NOTES IN CONNECTION WITH URBAN RENEWAL PROJECT NO. ILL. R-100. WHEREAS, The City of Decatur, hereinafter called the "Local Public Agency", is duly authorized and proposes to undertake and carry out a certain urban renewal or redevelopment project designated Pzaject No. ILL. R-100, of the character authorized by law with financial aid by the United States of America, hereinafter called the "Government", in the form of a Proje ct Temporary Loan under Title I of the Housing Act of 1949, as amended (42 U.S.C. 1450 et seq. ), which may be made by the Government to the Local Public Agency with respect to said Project in accordance with a certain Loan and Grant Contract, hereinafter called the '�Contract", by and between the Local Public Agency and the Government; and WHEREAS, in order to enable the Local Public Agency to obtain such financial aid, it is necessary for the Local Public Agency to authorize and, from time to time, is sue certain obligatio ns in the form of Project Loan Notes, as hereinafter provided: NOW� THEREFORE, BE IT ORDAINED BY THE CITY COUNQ L OF THE CITY OF DECATVR� ILLINOIS: Section l. That whenever the following terms, or any of them, are used in this Ordinance the same, unless the context shall indicate another or different meaning or intent, shall be construe d, are used, and are in- tended to have meanings as follows: (1) The term "Ordinance" shall mean this Ordinance. (2) All other terms used in this Ordina nce and �ich are defined in the Contract shall have the respective meanings ascribed thereto in the Contract. Section 2. That the Contract entered into between the Local Public Agency and the Government for the above identif ied Project is hereby de- clared to be a part of this Ordinance and all applicable provisions there- of shall be deemed incorporated herein to the same extent as if the provi- sions thereof were�pressly set forth in full herein.