5
Ordinance, includingbut not limited to interest rate, preference, or priorityof anyother ordinancewith
thisOrdinance, parityof anyother ordinancewith thisOrdinance, or otherwise alter or impair the
obligation of theCity to pay the principal and interest due to thePublicWater SupplyLoanProgram
without thewritten consent of the Illinois Environmental ProtectionAgency.
SECTION 5. LOANNOT INDEBTEDNESSOFCITYOF
MOMENCE
Repayment of the loan to the IllinoisEnvironmental ProtectionAgencyby theCity
pursuant to thisOrdinance is to be solely from the revenue derived from revenues of theSystem,
and the loan does not constitute an indebtedness of theCitywithin themeaningof any
constitutional or statutory limitation.
SECTION6. APPLICATIONFORLOAN
TheMayor is herebyauthorized tomake application to the IllinoisEnvironmental
ProtectionAgency for a loan through thePublicWater SupplyLoanProgram, in accordancewith
the loan requirements set out in 35 Ill. Adm. Code 662. TheMayor andCityClerk are hereby
authorized and directed to sign and attest to anydocuments referenced in thisOrdinance or
which are necessary to effectuate the intention of thisOrdinance.
SECTION 7. ACCEPTANCEOFLOAN
AGREEMENT
TheCorporateAuthorities herebyauthorize acceptance of the offer of a loan through thePublic
Water SupplyLoanProgram, including all terms and conditions of theLoanAgreement aswell as all
special conditions contained therein andmade a part thereof by reference. TheCorporateAuthorities
further agree that the loan funds awarded shall be used solely for the purposes of the project as
approvedby the Illinois Environmental ProtectionAgency in accordancewith the terms and conditions
of the LoanAgreement.
