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RESOLUTION NO. R2007-153 <br /> RESOLUTION AUTHORIZING <br /> EXPENDITURE OF FUNDS <br /> CITY'S AMENDED AND RESTATED <br /> TAXABLE GENERAL OBLIGATION LINE OF CREDIT NOTE <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DECATUR, <br /> ILLINOIS: <br /> Section 1. That the City Council by Ordinance No. 2006-94 and Ordinance No. <br /> 2007-68 has approved the City's Amended and Restated Taxable General Obligation <br /> Line of Credit Note in the aggregate principal amount of not to exceed $6,000,000.00 <br /> and, furthermore, said City Council has discussed the purchase of the Decatur Conference <br /> Center and Hotel during Council Executive Sessions as a measure to stabilize and control <br /> the city's economic vitality. <br /> Section 2. That the City Manager be, and he is hereby, authorized and directed to <br /> authorize a one time expenditure of $1,000,000.00 from the City's <br /> Amended and Restated Taxable General Obligation Line of Credit Note towards the <br /> purchase of the Decatur Conference Center and Hotel. <br /> PRESENTED and ADOPTED this 15`" day of August, 2007. <br /> l:cv� <br /> PAUL OSBORNE, MAYOR <br /> ATTEST: <br /> � <br /> � � CC�� <br /> CITY CLERK <br />