HomeMy WebLinkAbout#4197 Authorizing City of Canton to Borrow Funds from Public Water Supply Loan Program ORDINANCE NUMBER 4197
AN ORDINANCE authorizing the City of Canton,Fulton, County, Illinois to borrow funds from
the Public Water Supply Loan Program
WHEREAS, the City of Canton, Fulton County, Illinois operates its public water supply system
(the "System") and in accordance with the provisions of Article 11 of the Illinois Municipal Code (65
ILCS 5/11-1-1 et seq.), and the Local Government.Debt Reform Act(30 ILLS.350/1 et seq.) (collectively,
the "Act"), and
WHEREAS, the Mayor and City Council of the City.of Canton have determined that it is
advisable, necessary and in the best interests of public health, safety and welfare to improve the System,
including the following:
City of Canton"—Lead Service Replacements
together with any land or rights in land and all electrical,mechanical or other services necessary, useful
or advisable to the construction and installation ("the'Project"), all in accordance with the plans and
specifications prepared by consulting engineers of the City of Canton; which Project has a useful life
of 50 years; and
WHEREAS, the estimated costof construction and installation of- the Project, including
engineering, legal, financial and other related expenses is $1,500,000.00 and there are insufficient funds
on hand and lawfully,available to pay these costs; and
WHEREAS, the loan shall bear an. interest rate as defined by 35 Ill._ Adm. Code 662, which
does not exceed the maximum rate authorized by the Bond Authorization Act, as amended, 30 "ILCS
305/0.01 et seq., at the time of the issuance of the loan; and
WHEREAS, the principal and interest payment shall be payable semi-annually, and the loan
shall mature in 20 years, which is within the period of useful life of the Project; and
WHEREAS, the costs are expected to be paid for with a loan to the City of Canton from the
Public Water Supply Loan Program through the Illinois Environmental Protection Agency, the loan to
be repaid from revenues of the System and the loan is authorized to be accepted at this time pursuant to
the Act; and
WHEREAS, in accordance with the provisions of the Act, the City of Canton is authorized to
borrow funds from the Public Water Supply Loan Program in the aggregate principal amount of
$1,500,000.00 to provide funds to pay the costs of the Project;
WHEREAS, the loan to the City of Canton shall be made pursuant to a Loan Agreement,
including certain terms and conditions, between the City of Canton and the Illinois Environmental
Protection Agency;
BE IT ORDAINED by the City Council of the City of Canton,Fulton County, Illinois, as follows:
SECTION 1.INCORPORATION OF PREAMBLES
The Corporate Authorities hereby find that the recitals contained in the preambles are true and
correct, and incorporate them into this Ordinance by this reference.
SECTION 2. DETERNIINATION TO BORROW FUNDS
It is necessary and in the best interests of the City of Canton to construct the Project for the
public health, safety and welfare, in accordance with the plans and specifications, as described; that
the System continues to be operated in accordance with the provision of the Act; and that for the
purpose of constructing the Project, it is hereby authorized that funds be borrowed by the City of
Canton in an aggregate principal amount(which can include construction period interest financed over
the term of the loan) not to exceed$1,500,000.00.
SECTION 3.PUBLICATION
This Ordinance,together with a Notice in the statutory form(attached hereto as Exhibit A), shall
be published once within ten days after passage in the Daily Ledger, a newspaper published and of
general circulation in the City of Canton and if no petition, signed by electors numbering 10% or more
of the registered voters in the City of Canton(i.e. 930) asking that the question of improving the System
as provided in this Ordinance and entering into the Loan Agreement therefore be submitted to the
electors of the City of Canton is filed with the City Clerk within 30 days after the date of publication
of this Ordinance and notice,then this Ordinance shall be in full force and effect. A petition form shall
be provided by the City Clerk to any individual requesting one.
SECTION 4.ADDITIONAL ORDINANCES
If no petition meeting the requirements of the Act and other applicable laws is filed during the
30-day petition period, then the Corporate Authorities may adopt additional ordinances or proceedings
supplementing or amending this Ordinance providing for entering into the Loan Agreement with the
Illinois Environmental Protection Agency, prescribing all the details of the Loan Agreement, and
providing for the collection, segregation and distribution of the revenues of the System, so long as the
maximum amount of the Loan Agreement as set forth in this Ordinance is not exceeded and there is no
material change in the Project or purposes described herein. Any additional ordinances or proceedings
shall in all instances become effective in accordance with the Act or other applicable law. This
Ordinance, together with such additional ordinances or proceedings, shall constitute complete authority
for entering into the Loan Agreement under applicable law.
However, notwithstanding the above, the City of Canton may not adopt additional ordinances or
amendments which provide for any substantive or material change in the scope and intent of this
Ordinance, including but not limited to interest rate, preference, or priority of any other ordinance with
this Ordinance, parity of any other ordinance with this Ordinance, or otherwise alter or impair the
obligation of the City of Canton to pay the principal and interest due to the Public Water Supply Loan
Program without the written consent of the Illinois Environmental Protection Agency.
SECTION 5. LOAN NOT INDEBTEDNESS OF CITY OF CANTON
Repayment of the loan to the Illinois Environmental Protection Agency by the City of Canton
pursuant to this Ordinance is to be solely from the revenue derived from revenues of the System, and the
loan does not constitute an indebtedness of the City of Canton within the meaning of any constitutional
or statutory limitation.
SECTION 6. APPLICATION FOR LOAN
The Mayor is hereby authorized to make application to the Illinois Environmental Protection
Agency for a loan through the Public Water Supply Loan Program, in accordance with the loan
requirements set out in 35 Ill. Adm. Code 662.
SECTION 7. ACCEPTANCE OF LOAN AGREEMENT
The Corporate Authorities hereby authorize acceptance of the offer of a loan through the Public
Water Supply Loan Program, including all terms and conditions of the Loan Agreement as well as all
special conditions contained therein and made a part thereof by reference. The Corporate Authorities
further agree that the loan funds awarded shall be used solely for the purposes of the project as approved
by the Illinois Environmental Protection Agency in accordance with the terms and conditions of the Loan
Agreement.
SECTION 7. RESERVE ACCOUNTS
As long as the City of Canton has outstanding senior bonds that are payable from revenues of
the system, the City of Canton shall maintain an account, coverage, and reserves equivalent to the
account(s), coverage(s) and reserve(s)required by the outstanding ordinance(s).
SECTION 9. AUTHORIZATION OF MAYOR TO EXECUTE
LOAN AGREEMENT
The Mayor is hereby authorized and directed to execute the Loan Agreement with the Illinois
Environmental Protection Agency. The Corporate Authorities may authorize by resolution a person
other than the Mayor for the sole purpose of authorizing or executing any documents associated with
payment requests or reimbursements from the Illinois Environmental Protection Agency in connection
with this loan.
SECTION 10. SEVERABILITY
If any section, paragraph, clause or provision of this Ordinance is held invalid, the invalidity of
such section,paragraph,clause or provision shall not affect any of the other provisions of this Ordinance.
SECTION 11. REPEALER
All ordinances, resolutions or orders, or parts thereof, which conflict with the provisions of this
Ordinance are, to the extent of such conflict, hereby repealed.
PASSED by Corporate Authorities
On June 16, 2020
AZve June 16 2 0
YOR
CITY OF CANTON
Fulton County, Illinois
AYES:Aldermen Ryan M- liew, Quin Mg3Lhew,John Lovell-Crai.A West Angela Hale JeffFrH4.
Justin Nelson
NAYS:None.
ABSENT: Alderwaman-Angela Lingenfelter,
PUBLISHED in the Canton Daily Ledger,on June 25, 2020.
�_ ►r (�3I Y R O d o June 23,2020.
E
CITY CLERK
CITY OF CANTON
Fulton County, Illinois
Exhibit A
NOTICE OF INTENT TO BORROW FUNDS
AND RIGHT TO FILE PETITION
NOTICE IS HEREBY GIVEN that,pursuant to Ordinance Number 4197, adopted on June 16,
2020, the City of Canton, Fulton County, Illinois the City of Canton, intends to enter into a Loan
Agreement with the Illinois Environmental Protection Agency in an aggregate principal amount not to
exceed $1,500,000.00 and bearing annual interest at an amount not to exceed the maximum rate
authorized by law at the time of execution of the Loan Agreement, for the purpose of paying the cost
of certain improvements to the public water supply system of the City of Canton . A complete copy of
the Ordinance accompanies this notice.
NOTICE IS HEREBY FURTHER GIVEN that if a petition signed by 930 or more electors
of the City of Canton (being equal to 10% of the registered voters in the City of Canton), requesting
that the question of improving the public water supply system and entering into the Loan Agreement is
submitted to the City Clerk within 30 days after the publication of this Notice, the question of
improving the public water supply system of the City of Canton as provided in the Ordinance and
Loan Agreement shall be submitted to the electors of the City of Canton at the next election to be held
under..general elect on w on November 3, 2020. A petition form is available from the office
of th . .ity Cl k; ain Street, Canton, Illinois 61520.
Ci erk
City of Canton
Fulton County, Illinois
r
I
a
I ORDINANCE NUMBER 4.197
AN ORDINANCE authorizing the City of Canton,Fulton,County,Illiniois to.borrow funds from
the Public Water Supply Loan Program
WHEREAS,the City of Canton,Fulton.County, Illinois operates-its public water supply system
(the System) and in accordance with the provisions of Article 11 of the T.ilinois Municipal Code (65
ILCS 5/11-139-1 et seq.), and the Local Government Debt Reform Act, 3U_ ICS 350/1 (collectively,the
Act),.and
WHEREAS, the Mayor and City Council.of the City of Canton have 'determined that it is .
advisable,necessary-and in the best interests of public health, safety and wel,fare to improve the System,-
including the following: �.
City of Canton—Lead Service Replacements
together with any land or rights in land and all electrical,mechanical or other services necessary,useful
or advisable to the construction and,installation ("the Project"), all in accordance with the plans and
specifications prepared by consulting,engineers of the-City of Canton; which Project has a useful life
of 50 years; and
WHEREAS, the estimated cost of construction and installation of the Project, including
engineering,legal, financial and other related expenses is $1;500,000,00 an, ,there are insufficient funds
on hand and-lawfully available to pay these.costs;.and
WHEREAS, the loan shall bear an interestrate as defined by 35 Ill. Adm. Code. 662, which
does not exceed-the maximum rate authorized by the Bond Authorization Act, as amended, 30 ILCS
305/0,01 et seq.,-at the time of the issuance of the loan;and
WHEREAS, the principal and interest payment shall be payable se mi-annually, and the loan
shall mature in 20 years, which is within the period of useful life-of the Proj�,:-ct; and
WHEREAS, the costs-are expected to be paid for with a loan to thi; City of Canton from the
Public Water Supply Loan.Program through the Illinois Environmental Protection Agency, the loan to
be repaid from revenues of the System and-the loan is authorized to be accepted at this time pursuant to
the Act; and
WHEREAS, in accordance with the provisions of the Act, the City of Canton is authorized to
borrow funds from the Public Water Supply Loan Program in the aggregate principal amount of
$1,500;000.00 to provide funds to pay the costs of the.Project;
WHEREAS, the loan to the City of Canton shall be made pursuant to a Loan-Agreement,
including certain terms and conditions, between the City of Canton and the Illinois Environmental
Protection Agency;
BE IT ORDAINED by the City Council of the.City of Canton,Fulton County,Illinois,as follows:
SECTION 1. INCORPORATION OF PREAMBI.,E;S.
The Corporate Authorities hereby find that the recitals contained in thy;,preambles are true and
correct,and incorporate them into this Ordinance by this reference.
SECTION 2.DETERMINATION TO BORROW F'U'NDS
It is necessary and-in the best interests of the City of Canton to co nstruct the Project for the
public health, safety and welfare, in accordance.with the plans and specifieff tions, as described; that
the System continues to be operated in accordance with the provision of th.e Act; and that for the
purpose of constructing the Project, it is hereby authorized that funds:be I)orrowed by the City. of
Canton in an aggregate principal amount(which can include construction perir,)d interest financed over
the term.of the loan)not to exceed$1,500,000.00.
SECTION 3. PUBLICATION
This Ordinance,together with a Notice in the statutory form(attached hereto as Exhibit A),shall
be published once within ten days after passage in the Daily Ledger, a newspaper published and of
general circulation in the City of Canton and if no petition,signed by elects*:, numbering 10%or more
of the registered voters in the City of Canton(i.e. 930)asking that the questiton of improving the System
as provided.in this Ordinance and entering into the Loan Agreement thert-,fore be submitted to the
electors of the City of Canton is filed with the City Clerk within 30 days aft(-.r the date of publication
of this Ordinance and notice,then this Ordinance shall,be in full force and et:fect. A petition form shall
be provided by the City Clerk to any individual requesting one. 4
SECTION 4.ADDITIONAL ORDINANCES
If no.petition meeting the requirements.of the Act and other apph,- , le laws is filed during the
30-day petition period, then the Corporate Authorities may adopt additional 'ordinances or proceedings
supplementing or amending this Ordinance providing for entering into thi, Loan Agreement with the
Illinois Environmental Protection Agency, prescribing all the details of the Loan Agreement, and
providing for the collection, segregation and distribution of the revenues _,f the System, so long as the
maximum amount of the Loan Agreement as set forth in this Ordinance is n,of exceeded and there is no
material change in the Project or purposes described herein. Any additional ordinances or proceedings
shall in all instances become effective in accordance with the Act or other applicable law. This
Ordinance,together with such additional ordinances or proceedings, shalt constitute complete authority
for entering into the Loan Agreement-under-applicable law.
However,notwithstanding the above,the City of Canton may not adopt additional ordinances or
amendments which provide for any substantive or material change in the: scope and intent of this
Ordinance,including but not limited to interest rate,preference, or priority o f any other ordinance with
this Ordinance, parity of any other ordinance with this Ordinance, or otherwise alter or impair the
obligation of the City of Canton to pay the principal and interest due to the (Public Water Supply Loan
Program without the written consent of the Illinois Environmental Protection.Agency.
SECTION 5. LOAN NOT INDEBTEDNESS OF CITY OY CANTON
Repayment of the loan to the Illinois Environmental Protection A; (;ney by the City of Canton
pursuant to this Ordinance is to be solely from the revenue derived from reve=nues of the System,and the
loan does not constitute an indebtedness of the City of Canton within the m,ianing of any constitutional
or statutory limitation.
SECTION 6. APPLICATION FOR LOAN
The Mayor is hereby authorized to make application to the Illinois Environmental Protection
Agency for a loan through the Public Water Supply Loan Program; in accordance with the loan .
requirements set out in 35 Ill. Adm. Code 662.
SECTION1. ACCEPTANCE OF LOAN AGREEKENT'
The Corporate Authorities hereby authorize acceptance of the offer of a loan through the Public'
Water Supply Loan Program, including all terms and conditions of the Loan)kgreement as well as all
special conditions contained therein and made a part thereof by reference. The Corporate Authorities
further agree that the loan funds awarded shall be used solely for the purpos,-,-s of the project as approved
by the Illinois Environmental Protection Agency in accordance with the terms ind conditions of the Loan
Agreement.
SECTION 7. RESERVE ACCOUNTS
As long as the City of Canton has outstanding senior bonds that are payable from revenues of
the system, the City of Canton shall maintain an account, coverage, and reserves equivalent to the
account(s),coverage(s) and reserve(s)required by the outstanding ordinance(s).
SECTION 9.AUTHORIZATION OF MAYOR TO KXECUTE
LOAN AGREEMENT
The Mayor is hereby authorized and directed to execute the Loan jkgreement with the Illinois
Environmental Protection Agency. The Corporate Authorities may authorize by resolution a person
other than the Mayor for the sole purpose of-authorizing or executing any documents associated with
payment requests or reimbursements from the Illinois Environmental Protection Agency in connection
with this loan.
SECTION 10. SEVERABILI.TY
If any section,paragraph, clause or provision of this Ordinance is heN invalid, the invalidity of
such section,paragraph,clause or provision shall not affect any of the other provisions of this Ordinance.
SECTION 11.REPEALER
All ordinances,resolutions or orders,or parts thereof,which conflict with the provisions of this
Ordinance are,to the extent of such conflict,hereby repealed.
i
PASSED by Corporate Authorities
On June 16,202_0
App Dyed June 16,.20 01 ,
MAYOR
CITY OF CANTON
Fulton County,-Illinois
AYES: Aldermon Ran Mgyh�w, Quin Mgyhew;John.Lovell, Craig West, Artgela Hale,Jeff Fritz,
Justin Nelson:.
NAYS: None
ABSENT:-Alderwoman Angela Lingerifelter
PUBLISHED in the Canton Daily edger on June 25,2020.
RECORDS he CITY Records on June 23,2020..
.A ES'
CITY CLERK -
CITY OF CANTON
Fulton County,Illinois
Exhibit A
NOTICE OF INTENT TO BORROW FUNDS
AND RIGHT TO FILE PETITION
NOTICE IS.HEREBY GIVEN that,pursuant to Ordinance Number 4197, adopted on June 16,
2020, the City of Canton, Fulton County, Illinois the City of Canton, intends to enter into a Loan
Agreement with the Illinois Environmental Protection Agency in an aggregate principal amount not to
exceed $1,500,000:00 and bearing annual interest-at an amount not to exceed the maximum rate
authorized by law at the time of execution of the Loan Agreement,for the purpose of paying the cost of.
certain improvements to the public water supply system of the City of Cantcin. A complete copy of the
Ordinance accompanies this notice.
NOTICE IS HEREBY FURTHER GIVEN that if a petition signed by 930 i;)r more electors of the City
of Canton (being equal to 10% of the registered voters in the City of Canton), requesting that the s
question of improving the public water supply system and entering into the Lean Agreement is submitted
to the City Clerk within 30 days after the publication of this Notice,the question of improving the public
water supply system of the City of Canton as provided in the Ordinance and Loan Agreement shall be
submitted to the-electors of the City of Canton at the next election to be held under general election law .
on November 3, 2020. A petition form is available from the office of the C ity Clerk,2 N.Main Street,
Canton,.Illinois 1
6ity, er
City of Canton
Fulton County,Illinois
CERTIFICATION
I Diana Pavley.Rock, do hereby certify that Iam.the duly elected,-qualified and acting Clerk of
the City of Canton. I do further certify that the above and foregoing, ide•itified as Ordinance
Number 4197, is a true, complete-and correct copy,.of an ordinance other -,7se identified as an
ordinance authorizing.the City of Canton Fulton County Illinois to borrow i Inds from the public
water supply loan program passed by the City.Council.members of the City (:)f Canton on the 16
day of June 020; and approved by the Mayor of the City of Canton on th i.same said date, the
original of which is part of the books and records within my control as Clerk ifthe City of Canton.
Dated this 16 day of June 2020.
f •
I
NO REFERENDUM CERTIFICATE
I,.the undersigned, do hereby certify that I am the duly qualified, and acting City Clerk of the
City of.Canton, Fulton County, Illinois, and as such officer I am the keeper of the books,
records,files and journal of proceedings of the City of Canton and the Mayor and City Council
of the City of Canton.
I do further certify that Ordinance Number 4197,being the Ordinance entitled: Ain ordinance authorizing the
City. of Canton, Fulton County Illinois to borrow funds from the public wager supply loam program was
presented to and passed by the.Mayor and City Council of the City of Canton at:its legally corivened meeting
held on the 16th day of June,2020 and signed by the Mayor-of the City-of Canton on said day.
I do further certify that the Ordinance was duly and properly published in the:DailV.Ledger', a newspaper
published and of general circulation within the City of Canton, on.-the 25" da:y of June, 2020, being a date
within ten days from the date of passage of the Ordinance.
I do further certify that publication of the Ordinance was accompanied by a separate publication of notice of
(1) the specific number :of voters required to sign the petition requesting the question of constructing
improvements to the public water supply system as provided in the.Ordinance;. (2) the time in which such
petition must have been filed;-and(3)the date of the prospective referendum.
I do further certify that I did make available and provide to any individual so requesting a'petition form,
which petition form provided for.submission to the electors of the City of Cant-oia of the question as set forth
therein. Such-petition forms were available from-me continuously from June 2' 5, 2020, up to and including i
July 25, 2020.
I do further certify that no Petition has been filed in my office within 30 &iys after publication of the.
Ordinance or.as of the time of the signing hereof as provided by statute asking t: at the question of improving
the public water supply system as provided in the Ordinance and the Loan Agreement therefore be submitted
to the electors of the City of Canton.
IN WITNESS WHEREOF I have hereunto affixedmy�-official signature and they.corporate seal of the City of
Canton, Fulton County,Illinois,this• 2da ofP'1�1, 2020.
City Clerk
City of Canton
Fulton County, Illinois
(SEAL)
uurcow,ouuenio Lou ruune war®nouppq rl,oan.rrosmm
WtI�RDAS.the•Clty of unton,Fulton County,'lltlnole.opersties Its public
water supply system 04 yatom");and;[n.accordance.,with the provisions of
Article 1I of the llllnoln M 'IaipAI Codo'(08 VXS 8/11-1.1 atscq.);end the Local
m
Governent Debt Reform t(30 3LCS 380/1 et seq.)(aolleciively,the"Act'),and
WHEREAS,the Mayor City Council of the City,of Canton have detormleed ,
that It Is advisable,access and In the hpst'inteiesta of public health,safety
and welfare to improve Uto.¢ -tem.includ)ng'the following,
City of,My.' -Lead Service Reptaeoments
together with any land or rights in land and all electrical,mechanical or,other
services nee aary, uacfu or advisable to the construction'and Installation
(°the Project"),elf in nca6 once wleh the plune,and Specifications prepared by
consulting engineers of City of Canton;which Project hos a:useful lite of 60
yam;and
WHEREAS, the estimated cost of construction and Installation of the I'
Project, Including engine'„ng.legal.financlel and other related expenses to
$1,800.000.00 and there o irtuuMeAent funds on hand and lawBtlly available to
pay these costs;and ;
WHEREAS,the loan .1 all bear an Interest rate as defined by 38 M,Adm.
Code 662,which does riot exceed the maximum rate authorized by the Bond
Authorization Act,as Mcoded,30 ILCS 305/0.01 at seq.,at the time of the
Issuance of the loan,and
WHEREAS,the pdnclp and interest payment shall be payable semiannually,
and the loan shall mato- m 20 years;which is iclthln.the periodof useful +,
life of the Project;and j
WHIMAS,thgg costs$ro.expeeted to be psld-far w11h'a loan'to the City of : State Of tllinois,
CTocor Som (1;nT(tti118'Watar Supply,Lop Program through,t{ts Aliaola f f �S
.tWionmentat ProteetIbp`Agenay:the loan to be.repaid from ras i%k&'otAuae Count'of Full-ori.
,
System and the loan In Juthorized to;bc.accepted at this.time pursuant to the '
Act;and,
WHEREAS.in accordance with the provisions of the Ant,the City of Canton Is The Daily Ledger, a coo oratidn
authorized to borrow funds from.the Public Water Supply Lean Program Ju the Y g. -� + exist irl,g and d0I nl
b!gre ate prilaocipal amoynt of 81.500.000.00 to provide funds to pay the coati business„under the laws•al.Ole Slate Of.IllinbiS, by {I$ dal
WDER-CAS:the loan t0:the Clty.of Canton shall be/rade.pursuant to a Loan 'authorized.agent, hereby cbrtifies &I It is illi pulalfshar e
Agreement.including caftafn terms and conditions.between the City of Canton 4
and the Illinois$livirdnmentn)Protection•Agancy, rhe.D•aily'ledger; t'hgt said'The Daily Ledger-is a•S.eCLIa
BE rr ORDAMD by the City Council of the City of Canton,Fulton County. _r-
.1 Illinois.no follows,' newspaper, priflted:and piwbi.ished each'weekday in.the cit'
sECT1ox;.1,]INCORPORATIONeherebyfindthe of PREANls BS
con ;of Cant n County.o f Fullton and State of Illinois, •that i6t,
The Corporate AutholBtiss hereby find that the recitals contained in the .Q ,
preamble.are true and!wrrect.and Incorporate them Into this Ordinance by '
thl.reference. f annexed,adYertisemenfi via printed.and .published in fiht
SECTION,9..DETl3adialti TION TO BORROW FUNDS .(_ L t
It Is necessary and'Itt;tLo:beat interests of the City of canton to contact 'regular issuits.of said newtpoper each .tor,
the Project for the.p blla heglth:. safety.and,welfare, In accordance with %ek
We pians and epeciflcbUoris, na aeaoribed, that the system continues to-be ,successive the c{atE: of the first paper containing the
operated In accordance with the viel
proon.of the net;and that for the purpose of
constructing wc.Projccc,It hereby authorized that funds be borrowed by thewasS'
City of CnntonWon aggragatoprinc,pel aalsuntlwhich can include construction Same being ihrr ISSl1e Clatel t$le dQ Of � •�
period Interest financed Over the term of tha.lO0)not to eutised 91:600.000.00:TIOIVsin y
This Or+dlrmuce,togetkarr with a NoticSECTION 3.e in the ata statutory form rattanhed hereto . 0. Number' o_ . of Yolurne /�/ '
as Exhibit Al,shall be publishhed ed once within , and tfie date of
p doge rioter passage to the Dally' ��
Ledger.oncwapneipt dbyalandof umberi g,10%or- int of
Canton ifs astpq er-containing the'samebein tile'. ay
and 1f no paUtioa,signed by electors numbetiag.109i or mom of tiro reglotered p .P 9 g d
voters in thc'a)ty of Canton(i.e.930)caking that tho question at improving the. L /�,��
System ne provided W this Ordinance and entering into Me IAan'AgreaTnent 9 .ZQ��'�, I�1tnnDer_L—;, Volume.�;.g.,-that
thotorore be oubmltteq,to the elt:etoia of the City of Canton I9.Sled with the oily r
Clerk within 00 days atter the data of publication Of this Ordinance end nodes,- aid The-Daily ledger' h,Qs been regularly printed and
than t1do A211anec e)Ioll be'ln full force and c0col. A petition form Shell bg'. l f
pibirlded by the City Cterk to say Individual requesting ons p blis ed `foi moiE.thalt SIX ftl4n,1.4,prior to the :tirSt
aEcaioN tquird eAt8aflbir nt+ANcltt� publimion of sdid•ahne�xt:d'advertisement-'t latihe.iaerson
If no petftten=maatin&the requitomeate oi-ibn AOt,aad;outer applicable lave° ,
In filed during the 30-dayperiod,than the Corporate Autharities may maWng this 6rfific0e,;for and in behalf of laid Th
adopt additional ordlaancea or proceedings supplementing.or amending this pill
Ordinance providing Yor enuring Into the:Loan Agreement with the Illinois Cetlger..is ftif empowered-to-rikike same,for Qrid,ill behalf
Environmontal Protection Agency, prescribing all the details of the Lego' 4F SCIid 1Y74 Dal
Agreement,and Providing for the c011ccti0u,segcogetion and dlatrl6ntion of the l edger.i:s fiilly.empowered to make same
rcveauS of do System.soJong no the maximum nlnonnt of the Loan Agreement for and'in behal a�said wrVoratlon,
as set for In this Oidlnanee Is not exceeded find there IS no material change. '
11 the Project or purposealdeveribed herein. Any additional ordinnneen or " r
proceedings shall In all Instances become effective in accordance with the Actor
other applicable Inw. Thla,Ordinanoo,together with such additional ordinances• THE DAILY LEDGER
or proceedings,shall-,aonatltuts.voarploto authority for entering into the Loan , '-r,R
Agreameae under applicable law. t _
He over. notwithstanding the-above, the City,of Canton may'oot:adtipt
additional ordinances or amendments which provide for any subetanavc or � � � � 'y,/J�
material change In the scope and'intent of this Ordtnonce,Including but riot B �,: "�'^'r•
limited to Interest rate,preference,or priority of my other ordinance with this y
OrdinsnceeParitVi0f any other ordinance with this Ordinance,cr otherwlsc alter +
or Impair the obligation of thc'CIIy of Canton to,pay the prinalcal and interest
due-Lo:the P.ubllc-Natar,Supply.I QAP,p_(egrAm,w.Ilhquttho wAttgh h..Spntotai- '
Illinois Environmental Protection Agency.
SECTION ti. CORN NOT,IIQAEBUDNEl9S OF'OITY or CANTON t�
Repayment of the•lona-to the'llunoln"Eavironmental Prdlectioa Agency.-by
tho City.of Canton pumuant to thio Ordinancolo to be solely from U,e,rnvenua "
derlved;
conditions of the Luau Agreement es wen ere adspecial cmudi oa6 contained ,
therein andrade a part thereof by reference The Corporate Authoiiflis
fotther agree that the loan funds awarded shad be used moldy for the purposes
of the project as approved by the Illinois Emdronnamml protection Agency in
arcmdance with the Lerma and muditiooa of the Loan Agmemect_
As long as the City of Canton bas outstanding senior beads that are payable
from remanes of the system.the City of Canton ebou mtlnmla an meront,
coverage,and reserves egnivalent.to.the aeconnt(al,coverage(a)and reserve(s)
required by the 1
86CliOlr 1).AV180l1Zd1Tf011t OF K&"z TD MMMWM Low
-AG -1. 7[
The M�is bereby'auth6ri e3 aad'dlmted to execute the Loan H eat
win-tile litmgis$nvlronmeaml Prolegtinn AgencJ She CcapoattcJltrtbotitia.
may authorize d9 i esAktioa a person otherthan the Morn-for the sale 1, I m e
Of authorizing or c-catisg any down associated with payneat Negress I
or >e7mbumnmenm from the liHnols Environmental Protecdon,Agency in
connection with this t®n.
t1RMON 10.SZWEMAHQATr
ifmy section, paragraph, clause or provision
of this Ordinance is held savalid. the hVAU lay of
such section.paragraph,Nauss or provision aball rot allied any of the other
provisions of this Ordinance.
' 9Bc1YON 11.zzmAIan'
All ordinances,resolgtions or orders.or parts thereof,which eaufiict with the
ptovlsioas
of this Ordinance are,to the ean¢tof each hereby tepealed
PASSED by Corporate Authorities
On June 16.2020
Approved June 16.2020
MAYOR
QTY OF CAMWN
Fulton Country.lllmols
AYE&Aldermen Ryan Mayhew.Quin DUO—.John Lovell.Qdg WC84 Aogda
Hale.Jeff Fatz.Justin Ndaon
NAYS:None
AHMNP Mdettdoman/Sagda 1 tem-&It—
'PUBLISHED in the Ston Daffy'Ledger on Jude 25.2020
RECORDED in the CITY Records on June 23.2020.
ATTESM
MY CLERK
CITY OF CPJMN
•.Fulton County.lunars
I .. > hllydiA
NOUCEIS HEREBY QMN that pwmmt2iDOldia235eeMnmba•4l97.odopted
on June 16.2020;the City of Canton,ltoltaa County..Inl the Ciity of Gaston,
mtendi to enter Into a Loan Aggfeement with the Minnie Envhnamrnml
ProtedlonAgenevin a meopeoute prindpalamountnotto esoeed81A00.0MW
and bearing annual Jutstrst at an amount-not'to exceed the madman rate
authorized by few at the orae ofexecutioa orthe LeanAgreement for'Itie-t-Asp -
of pat+" 'tbecoA�sitalab• Y¢m �m.tp�.wnhflrtwhYan++atcsvCtnm.n..,. _.
the City of ere.ton.A complete eopg'Nf'A Ordlnaa ce eocoaopwfea this aotlaa
NOTICE is HERMY";M rR GIVEN that if a S*Udoti signed by 930.or tmot+e
electors or,%hie city of Cairtoa(being equal to 10%of the t+egistemd voters In
the City of Canton),requ6ting that the question of fu4n Ing the public seater
supply,system and rota ing Into the Loan Agreement In submitted to the `
city Cterk.witbdn$o'dsya,after the publieatton of this Notice.the question of
Improving the public watts supply systtan of the City of Canton as provided to
the-Ordnance and loan Agreement shall be:submitted to the electors of the
Cllr of Canton at the nett election to be field ander Vnerd decdon law on
Nmembei's.2020.A peflflcu form is avallsbie heat the ad5a of the CHY Cleric,
2 N.IlfitnStreet,Onto0.lltlnm%61540.
cc9
city cant-
Fulton County.llllnois osa�tm