2009-31 RESERVING 2009 VOLUME FOR PRIVATE ACTIVITY BOND ISSUES

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ORDINANCE No. 2009-31 AN ORDINANCE RESERVING 2009 VOLUME CAP FOR PRIVATE ACTIVITY BOND ISSUES,AND RELATED MATTERS. WHEREAS, the City of Decatur, Macon County, Illinois (the "Municipality"), is a municipality and a home rule unit of government under Section 6 of Article VII of the 1970 Constitution of the State of Illinois; and WHEREAS, according to an official Bureau of the Census population estimate set forth in the State of Illinois Allocation of Bonding Authority in Accordance with the Tax Reform Act of 1986 and the Guidelines and Procedures for the Allocation of Private Activity Bonding Authority in Accordance with the Tax Reform Act of 1986 and 30 ILCS 345 of the Office of the Governor, effective January 1, 2009 (the "Guidelines and Procedures"), the most recent census estimate of resident population of the Municipality is 76,674, providing the Municipality with a volume cap of$6,517,290 for the year 2009; and WHEREAS, Section 146 of the Internal Revenue Code of 1986, as amended (the "Code"), provides that such volume cap may be reserved and allocated to certain tax-exempt private activity bonds; and WHEREAS, the Illinois Private Activity Bond Allocation Act, 30 Illinois Compiled Statutes 2004, 345/1 et seq., (the "Act"), as supplemented and amended, and the Guidelines and Procedures, provide that a home rule unit of government may reserve its allocation of volume cap or may transfer its allocation of volume cap to any other home rule unit of government, the State of Illinois or an agency thereof or an non-home rule unit of government; and Y g Y Y WHEREAS, it is now deemed necessary and desirable by the Municipality to reserve its entire volume cap allocation for calendar year 2009 to be applied toward the issuance of private activity bonds, or to transfer such volume cap allocation, as permitted by this Ordinance; Now, THEREFORE, Be It and It Is Hereby Ordained by the Council of the City of Decatur, Macon County, Illinois, in the exercise of its home rule powers, as follows: SECTION 1. That, pursuant to the power and authority granted by and under Section 6 of Article VII of the 1970 Constitution of the State of Illinois, Section 146 of the Code, the Act and the Guidelines and Procedures, the Municipality hereby reserves volume cap in the principal 2009-31.doc 9001644