82-22 ESTABLISHING PROCEDURES TO BE FOLLOWED IN INCURRING INDEBTEDNESS FOR CORPORATE PURPOSES, ISSUING NON-REFERENDUM BONDS AND LEVYING A TAX

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, � � ��`��P�ED . �. � � � ORDINANCE NO. 82-22 AN ORDINANCE establishing procedures to be followed in incurring indebtedness for corporate purposes, issuing non-referendum bonds to evidence such indebtedness and authorizing and directing the levying of a tax, without limit as to rate or amount, for the purpose of paying principal and interest on such bonds as the same become due. WHEREAS, Section 6(a) of Article VII of the 1970 Constitu- tion of Illinois provides that "any municipality which has a popula- tion oP more than 25,000 (is) a Home Rule Unit. " The City of Decatur, Macon County, Illinois, with a population in excess of 25,000 is ' therefore a Fiome Rule Unit and may, under the power granted by Section 6(a) of Article VII exercise any power and perform any func- tion pertaining to its government and affairs including, but not limited to, the power to tax and to incur debt; and WHEREAS, Sections 6(d) and 6(k) of Article VII of the 1970 Constitution of Illinois grant constitutional authority for the City of Decatur to incur debt payable from ad valorem property tax receipts maturing within 40 years from the time it is incurred and without prior referendum approval; and WHEREAS, the establishment of basic procedures for incur- ring municipal debt and issuing bonds payable from ad valorem property tax receipts is both necessary and desirable to provide clarity in law and direction for subsequent action: NOW, THEREFORE, Be It Ordained by the Council of the City of Decatur, Macon County, Illinois, as follows :