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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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. ' � � . <br /> said City are hereby irrevocably pledged. <br /> This bond is issued by said City for the purpose of paying <br /> the cost of improvi.ng and extending �he existing system of surface <br /> water drains in and for said City in order to more adequately drain <br /> surface waters throughout the City, such improvements and extensions <br /> consisting of constructing additional drains of varying sizes from <br /> 2�- inch diameter through and including 108 inch diameter drains and <br /> sewers in, along and under portions of North Morgan Street, North <br /> Lowber Street, North Witt Street, East Prairie Street and portions <br /> of the Illinois Central Railroad Company right-of-way and the Norfolk <br /> and Western Railway Company right-of-way in the City, and constructing <br /> additional water inlets, manholes, catch basins, outlet structures <br /> and including all a urtenances incident there o ; <br /> PP t and �ncludin the <br /> g <br /> acquisition of additional lands and easements across privately owned <br /> pa,rcels of land, pursua,nt to and in all respects in compliance with <br /> the provisions of the Illinois Municipal Code, approved May 29, 1g61, r <br /> a <br /> and in force July l, 1961, and all acts amendatory thereof and sup- <br /> plementary thereto, and was authorized by a majvrity of the d.ectors <br /> of said City voting upon the question at an elect3on duly called, <br /> noticed, held and canvassed for that purpose in said City, and in <br /> compliance with an ordinance duly passed by the Council of said City <br /> and published, in all respects as by law required. <br /> It is hereby certified and recited that all acts, condi- <br /> tions and things required by the Constitution and laws of the State <br /> of Illinois, to exist or to be done, precedent to an� in the issu- <br /> ance of this bond, have existed and have been properly done, happened <br /> and been performed in regular and due form and time as required by <br /> law; that the indebtedness of said City of Decatur, represented by <br /> this bond and the issue of which it form.s a part, and including all <br /> other indebtedness of said City, howsoever evidenced and incurred, <br /> does not exceed any constitutional or statutory limitation, and tha.t <br /> provision has been made for the collection of a direct annual tax, <br /> in addition to all other taxes, on all of the taxable property in <br /> -5- <br />
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