2
ORDINANCENO.
791
ANORDINANCEAUTHORIZINGTHECITYOFMOMENCE,
KANKAKEECOUNTY, ILLINOIS
TOBORROWFUNDSFROMTHEPUBLICWATERSUPPLYLOANPROGRAM
WHEREAS
, theCityofMomence, KankakeeCounty, Illinois operates its publicwater supply
system (“theSystem”); and
WHEREAS,
theCityofMomence is subject to and complieswith the IllinoisMunicipal Code,
65 ILCS 5/1-1-1 and 65 ILCS 5/11-129-1,
et seq.,
and the LocalGovernmentDebt ReformAct, 30
ILCS 350/1 (collectively, “theAct”), and
WHEREAS
, theMayor AndCityCouncil of theCityofMomence (“theCorporateAuthorities”)
have determined that it is advisable, necessaryand in the best interests of public health, safetyand
welfare to improve theSystem, includingbut not limited to the following:
INSTALLATIONOFAPPROXIMATELY 1,300LINEALFEETOF12”WATERMAIN
DIRECTIONALLYDRILLEDUNDERNEATHTHEKANKAKEERIVERTOPROVIDE
BETTERWATERQUALITY,WATERPRESSURE, FIREPROTECTIONAND
REDUNDANCY
togetherwith any land or rights in land and all electrical,mechanical or other services necessary,
useful or advisable to the construction and installation (hereafter “theProject”), all in accordancewith
the plans and specifications prepared byconsulting engineers of theCity; and
WHEREAS
, theProject has an anticipated useful life of 75 years; and
WHEREAS
, the estimated cost of construction and installation of the Project, including
engineering, legal, financial and other related expenses is $1,300,000, and there are insufficient funds
on hand and lawfullyavailable to pay these costs; and
WHEREAS
, the costs are expected to be paid forwith a loan to theCity from thePublic
Water SupplyLoanProgram through the Illinois Environmental ProtectionAgency, and the loan
repaid from revenues of theSystem and the loan is authorized to be accepted at this time pursuant to
theAct; and
