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

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s , � . 2 Section 3. That in order to evidence payments made by the Govem - ment on account of the Project Temporary Loan pursuant to the Contract with respect to the Project and to refund, renew, extend or substitute for any Note by this Ordinance authorized to be issued (or any such Note by any other or dinance authorized to be issued and which is outstanding, or on deposit for delivery pending payment therefor, as of the date this Ordinance becomes effective), there are hereby authorized to be issued, from time to time, Project Loan Notes of the Local Public Agency in an aggregate principal amount outstanding at any one time (whether authori- zed by this Ordinance or any other ordinance authorizing the issuance of Project Loan Notes ) not in excess of the amount of the Project Temporary Loan available under the Contract. Section 4. That the City Manager be, and he is hereby, authori2ed to file with the Government from time to time as funds are required, requi- sitions, together with the necessary supporting documents, requesting pay- ments to be made on account of the Project Temporary Loan available under the Contract, and the proper officers of the Local Public Agency sha 11 pre- pare, execute and deliver to the Government Notes hereinafter authorized and shall accept payment therefor from the Government in the form of cash or other Notes issued by the Local Public Agency, and such officers are authorized to do and perform all other things and acts required to be done or performed in order to obtain such payments. Cash proceeds from the issuance of all Project Loan Notes shall be deposited and disbursed only in accord- ance with the provisions of the Contract. Section 5. That each Project Loan Note shall bear interest and be pay- able in the form and manner prescribed by the Contract and this Ordinance; shall be signed in the name of the Local Public Agency by the Mayor of the City of Decatur; and shall have the official seal of the Local Public Agency impressed thereon and attested by the City Clerk of the City of Decatur; and shall otherwise be in substantially the form of HUD-!9107 which is incorpora- ted herein by reference. Section 6. That this Ordinance shall supersede all previous ordinances authorizing Project Temporary Loan Notes, and the Project Loan Notes authori- zed by this Ordinance shall be exchanged for any Project Temporary Loan Notes