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.. , . <br /> adopted and become effective in and for said City, such provisions <br /> authorizin the levy of an additional annual tax not to exceed .03� <br /> � <br /> for the purpose of operating, maintaining and improving any local <br /> transportation system owned and operated by said City. <br /> Section 2. That it is necessary and for the best inter- <br /> ests of said City that there be borrowed by, for and on beha,lf of <br /> said City of Decatur, the sum of $250,000 for the purpose of paying <br /> the cost of acquiring property necessary or appropriate for the <br /> operation of a public utility for the transportation of persons <br /> within the corporate limits of the City of Decatur, Macon <br /> County, Illinois, and that said bonds be designated "Decatur Transit <br /> System Bonds, " be dated as of December 1, 1971, be fifty (50� in <br /> number, numbered consecutively from 1 to 50, i�clusive, be of the <br /> denomination of $5,000 each, mature serially on January 1 oP each <br /> of the years and in the amounts as follows : <br /> Year Amount <br /> 1973 to 1975, inclusive $10,000 <br /> 1976 to 1980, inclusive 15,000 <br /> 1g81 to 1986, inclusive 20,000 <br /> 1g�7 25,000 <br /> and that said bonds bear interest from date until paid at the rate <br /> of not to exceed seven per cent (7gb) per annum, a11 as provided for <br /> and described in that ordinance adopted 'oy the Council of said City <br /> on the i2tn day of O�:tober , 1971, and entitled: <br /> "AN ORDINANCE providing for acquiring property <br /> necessary or appropriate for the operation of <br /> a public utility for the transportation of per- <br /> sons within the corporate limits of the City of <br /> Decatur, Macon County, Illinois, describing the <br /> property to be acquired, providing for borrow- <br /> ing money and the issuance of full faith and <br /> credit bonds of said City to the amount of <br /> $250,000 for the purpose of paying the cost of <br /> the acquisition of such property and providing <br /> for tne levy and collection of a direct annual <br /> tax for the payment of the principal of and <br /> interest on said bonds. " <br /> Section �. That the question of the approval of the <br /> ordinance adopted by the Council of said City oP Decatur on the 12th <br /> day of october , 1971, the proposition to operate for hire a <br /> public utility for the transportation of persons, the question to <br /> -�+- <br />