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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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10/25/2016 1:15:44 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 /> 1978 $237,950.00 for interest and principal; <br /> 1979 $255,�50.00 for interest and principal9 <br /> 1980 $2�46,700.00 for interest and principal9 <br /> 1981 $237.950.00 for interest and principal9 <br /> 1982 $25�,200.00� for interest and principaly <br /> 1983 $2�+,200.00 for interest and principal9 <br /> 19� $2��,200.00 for interest and principal� <br /> 1985 $223L600.00 for interest and principal9 and <br /> 1986 $237,600.00 for interest and principa?. <br /> That interest or principal becoming due at ar�,r time when <br /> there are insufficient funds on hand to pay the saxne be paid promptly <br /> when due from current funds on hand in advancement of the collection <br /> of said taxes herein levied, and when said taxes shall have been col- <br /> lected, reim,bursement shall be made to the said funds i.n the amounts <br /> thus advanced. <br /> Section 5. That forthwith as soon as this ordinance <br /> becomes effective, a copy hereof certified by the Clerk of said <br /> City, which certificate shall recite that this ordinance has been <br /> passed by the Council of said City, s3gned and published, shall be <br /> filed with the County Clerk of Macon County, Illinois, who sha11 in <br /> and for each of the years 1970 to lg8b, inclusive, ascertain the <br /> rate per cent required to produce the aggregate tax hereinbefore <br /> provided to be levied in each of said years, respectively, and ex- <br /> tend the same for collection on the tax books in connection with <br /> other taxes levied in each of said years, respectively, in and by <br /> said City for general corpora,te purposes of said City, and in each <br /> of said years such annual tax shall be collected by said City in <br /> like manner as taxes for general corporate purposes for each of said <br /> years are levied and collected, and when collected such taxes shall <br /> be used solely for the purpose of paying principal and interest upon <br /> the bonds herein authorized when same mature. <br /> Sec� �. That the funds derived from the taxes herein <br /> levied be and the same are hereby appropriated and set aside for the <br /> _$_ <br />
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