ORDINANCE
WHEREAS, the City of Chicago (the "City") is a municipal corporation and home rule unit of government under Article VII, Section 6(a) of the 1970 Constitution of the State of Illinois; and
WHEREAS, the Board of Education of the City of Chicago (the "Board") is a body corporate and politic, organized under and existing pursuant to Article 34 of the School Code of the State of Illinois; and
WHEREAS, pursuant to the provisions of an act to authorize the creation of public building commissions and to define their rights, powers and duties under the Public Building Commission Act (50 ILCS 20/1 et seg.), the City Council of the City (the "City Council") created the Public Building Commission of Chicago (the "Commission") to facilitate the acquisition and construction of public buildings and facilities; and
WHEREAS, the Commission owns in trust for the Board certain real property located at 1900 West 23rd Street in Chicago, Illinois 60608 (the "Property"); and
WHEREAS, the Board wishes to rehabilitate the elementary school known as John Greenleaf Whittier Elementary School (the "Facility") located on the Property (the rehabilitation of the Facility shall be known as the "Project"); and
WHEREAS, the City is authorized under the provisions of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seq., as amended from time to time (the "Act"), to finance projects that eradicate blight conditions and conservation factors that could lead to blight through the use of tax increment allocation financing for redevelopment projects; and
WHEREAS, to induce certain redevelopment pursuant to the Act, the City Council adopted the following ordinances on June 10,1998, published at pages 70522 through 70713 of the Journal of Proceedings of the City Council (the "Journal") for said date, as amended by ordinances adopted by the City Council on November 12,2003 (published at pages 12144 through 12302 of the Journal for said date) and September 1, 2004 (published a...
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