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., •, ' • , ,s <br /> Decatur, Illinois, to be used as a free public library, and such <br /> bonds to bear interest at the rates as hereinafter provided for in <br /> Section 3 of this ordinance. <br /> Section 2. That it is hereby found and determined that <br /> it is for the best interests of the City of Decatur that the sum of <br /> $795,000 be borrowed at this time by said City for the purpose of <br /> paying the cost of purchasing said site and building to be used as <br /> a free public library, all as hereinabove referred to and described <br /> in the preamble hereof and that to evidence said loan negotiable <br /> coupon bonds in the principal amount of $795,000 of said City be <br /> issued. <br /> Section 3. That in order to raise the sum of $?95,000 <br /> needed for the purpose of paying the cost of purchasing said site <br /> and building to be used as a free public library, there be borrowed <br /> by, for and on behalf of the City of Decatur, Macon County, Illinois, <br /> the sum of $795,000 and to evidence said loan negotiable coupon bonds <br /> of said City be issued. Said bonds shall be designated "Public <br /> Library Bonds", be dated June 1, 1971, be one hundred fifty-nine <br /> (159) in number, numbered consecutively from 1 to 159, inclusive, be <br /> of the denomination o�' $5,000 each and become due serially on <br /> January 1 of each of the years and in the amounts and bear interest <br /> annually at the rates as followso <br /> Rate of <br /> Year Amount Interest <br /> 1973 $ 50,000 4.s� <br /> 197�+ 50,o00 4.s� <br /> 1975 75,o00 4.ss� <br /> 1976 75,000 4.s� <br /> 1977 75,000 4.3� <br /> 1978 75,000 4.3� <br /> 1979 loo,000 4.4� <br /> 1980 loo,000 4.s� <br /> 1981 100,000 4.6% <br /> 1982 95,o00 4.6s� <br /> -�- <br />