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5390 PROVIDING FOR BORROWING MONEY AND ISSUING BONDS OF THE CITY OF DECATUR, TO THE AMOUNT OF $2,600,000
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5390 PROVIDING FOR BORROWING MONEY AND ISSUING BONDS OF THE CITY OF DECATUR, TO THE AMOUNT OF $2,600,000
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10/25/2016 1:15:45 PM
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Resolution/Ordinance
Res Ord Num
5390
Res Ord Title
PROVIDING FOR BORROWING MONEY AND ISSUING BONDS OF THE CITY OF DECATUR, TO THE AMOUNT OF $2,600,000 FOR THE PURPOSE OF PAYING THE COST OF IMPROVING AND EXTENDING THE EXISTING SYSTEM OF SURFACE WATER DRAINS
Approved Date
11/23/1970
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w �.ti . . � ' ♦ ; / �,�� <br /> v <br /> ORDINANCE N0 . 539Q <br /> AN ORDINANCE providing for borrowing money <br /> and ss ng onds of the City of Decatur, <br /> Macon County, Illinois, to the amount of � <br /> $2,600,000 for the purpose of paying the <br /> cost of improving and extending the existing <br /> system of surface water drains in and for <br /> said City in order to more a3equa.tely drain <br /> surface waters throu�hout said C3.ty and pro- <br /> vidin� for the levy and collection of a <br /> direct annual tax for the payment of the <br /> principal and interest of said bonds. i <br /> � � * <br /> WHEREAS the Council of the City of Decatur, Macon County, <br /> Illinois, by an ordinance adopted on January 19, 1970, did call a � <br /> special election to be held in and for said City of Decatur, on <br /> February 2�, 1970, for the purpose of submitting to the electors of <br /> said City the fQllowing question: ! <br /> Shall bonds in the a.mount of $2,600,000 be <br /> issued by the City of Dec.�tur, Macon County, <br /> Illinois for the purpose of paying the cost <br /> of improving and extendin� the existing sys- <br /> tem of surface water drains in and for said <br /> City in order to more adequately drain sur- <br /> face waters throughout the City, such improve- <br /> ments and extensions consisting of constructing <br /> additional drains of varying sizes from 2� inch <br /> diameter through and including 108 inch diameter <br /> drains and sewers in, along and under portions <br /> of North Morgan Street, North Lowber Street, <br /> North Witt Street, East Prairie Street and por- <br /> tions of the Illinois Central Railroad Company <br /> right-of-way and the Norfolk and Western Rail- <br /> way Company right-of-way in the City, and con- <br /> � structing addition�l water inlets, manholes, <br /> catch basins, outlet structures and including <br /> all appurtenances incident thereto and in- <br /> cluding the acquisition of additional lands <br /> and easements across privately owned parcels <br /> of land, said bonds bearing interest at the <br /> rate of not to exceed seven per cent (7�) per <br /> annum? <br /> and <br /> WI�REAS the Council of said City did cause proper notice <br /> to be given of said election by publishing notice thereof once on <br /> January 27, 1970, in the Decatur Daily Review, the saxne being a <br /> newspaper published in and of general circulation in said City, <br /> said publication of said notice being made not more than thirty days <br /> nor less than fifteen days prior to the date of said election, which <br /> said notice as so published did specify the places where such elec- <br /> tion was to be held, the time of opening and closing the polls and <br />
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