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<br /> $8,000,000; and
<br /> WI�REAS the City does not have funds available for the
<br /> purpose of constructing said improvements, and it will be necessary
<br /> for the City to borrow the sum of $8,000,�00 and in evidence thereof
<br /> issue bonds therefor9 and
<br /> WHEREAS pursuant to the provisiox�s of Division 129 of
<br /> Article 11 of the Illinois Municipal Code of 1961, as amended, said
<br /> City is authorized to issue water revenue bonds for the purpose of
<br /> paying the cost of constructing said improvements9 and
<br /> WHEREAS pursuant to the provisions of ordinances adopted
<br /> by the Council of said City of Decatur on March 9, 195o and on June 2,
<br /> 1955 authorizing the issuance of the presently outstariding Water
<br /> Revenue Bonds of said City in the a�gregate principal amount of
<br /> $1,1.55,000, such outstanding Water Revenue Bonds being further
<br /> described as follows :
<br /> $695,000 Water Revenue Bonds, Series of 1950,
<br /> dated Ma�rch 1, 1950, authorized by Ordinance
<br /> No. � 55, adopted March 9, 1950, bearin in-
<br /> terest at the rate of three per cent (3�) per �
<br /> annum, being numbered 1381 to 2075, inclusive,
<br /> of the denomination of $1,000 each, due seri-
<br /> ally $90,000 on September 1 of each of the
<br /> years 1972 to 1978, inclusive, and $65,000 on
<br /> September l, 197g, all being sub�ect to re-
<br /> demption prior to their maturity, in the in-
<br /> verse order of their number, on any interest
<br /> payment dat� on or after September 1, 1959
<br /> (being all the bonds now outstanding of a
<br /> total authorized issue of $2,075,000) 9 and
<br /> $�+60,000 Water Revenue Bonds, Series of 1955,
<br /> dated June 1, 1955, authorized by Ordinance
<br /> No. 25?�+, adopted on June 2, 1955, bearin
<br /> interest at the rate of three per cent (3�)
<br /> per annum, being numbered 25�+1 to 3000, in-
<br /> clusive, of the denomination of $1,000 each,
<br /> due serially $155,000 on September 1 of each
<br /> of the years 19?2 and 1973 and $150,000 on
<br /> September l, 197� (being all the bonds now
<br /> outstandin of a total authorized issue of
<br /> $3,000,000�.
<br /> any additional bonds to share ratably and equally in the revenuestp
<br /> be derived from the operation of the waterworks system of said City
<br /> s:1a11 not be issued unless the revenues for the fiscal year then
<br /> next preceding were sufficient to pay all costs of operation and
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