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I <br />RESOLUTION NO. 11-99 <br />A RESOLUTION REGARDING THE PROPOSED REFUNDING OF OUTSTANDING <br />GENERAL OBLIGATION BONDS OF THE VILLAGE OF ELK GROVE VILLAGE <br />NOW, THEREFORE, BE IT RESOLVED by the President and Board of <br />Trustees of the Village of Elk Grove Village, Illinois as follows: <br />Section 1: That it is hereby determined that it is in the best <br />interests of the Village of Elk Grove Village to develop a plan for <br />the refunding of the Village's outstanding Corporate Purpose Bonds, <br />Series 1992, callable on December 1, 1999, by issuance of general <br />obligation refunding bonds of the Village. <br />Section 2: That with respect to the proposed general obligation <br />refunding bonds, (i) Authorize retaining Katten, Muchin, & Zavis as <br />bond counsel and (ii) Banc One Capital Markets, Inc. as underwriter. <br />Section 3: That the Village President is hereby authorized to <br />enter into a bond purchase agreement with Banc One Capital Markets, <br />Inc., providing for the terms of sale of the general obligation <br />refunding bonds, subject however to the satisfaction of the <br />condition that the present value savings as a result of the <br />refunding shall be no less than $100,000.00. <br />Section 4: That this Resolution shall be in full force and <br />effect after its passage and approval according to law. <br />VOTE: <br />AYES: <br />4 <br />NAYS: <br />0 <br />PRESENT: 1 <br />ABSENT: 1 <br />PASSED <br />this <br />22nd <br />day <br />of <br />June <br />1999. <br />APPROVED <br />this <br />22nd <br />day <br />of <br />June <br />1999. <br />Cg B. Johnson <br />Village President <br />ATTEST: <br />Patricia S. Smith <br />Village Clerk <br />Published this 25th day of June 1999 in Pamphlet form <br />RES016CGenObBonds Refund <br />