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RESOLUTION NO. 5-93 <br /> A RESOLUTION EXTENDING THE AGREEMENT FOR FUNDING AND <br /> DEVELOPMENT OF THE ILLINOIS INTERNATIONAL CONVENTION <br /> CENTER FOR A PERIOD OF THIRTEEN AND ONE-HALF MONTHS <br /> TO DECEMBER 31, 1994. <br /> WHEREAS, the municipalities of Schaumburg, Elk Grove Village, Hoffman <br /> Estates, Palatine and Rolling Meadows have entered into an Agreement with <br /> the Illinois International Convention Center Authority for purposes of <br /> funding and development of the Illinois International Convention Center on <br /> November 15, 1990; and <br /> WHEREAS, the terms and conditions of said Agreement expire on or about <br /> November 15, 1993; and <br /> WHEREAS, the municipalities and the authority deem it to be in the <br /> best interests of all parties to extend said Agreement. <br /> NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees <br /> of the Village of Elk Grove Village, Counties of Cook and DuPage, Illinois: <br /> Section 1: That the Agreement for Funding and Development of the <br /> Illinois International Convention Center (Intergovernmental Agreement) <br /> dated November 15, 1990 as previously approved and executed by Schaumburg, <br /> Elk Grove Village, Hoffman Estates, Palatine and Rolling Meadows, as <br /> amended should be extended. <br /> Section 2: That all relevant parties agree it would be in the best <br /> interests of all parties to extend the time of the Agreement in the event <br /> no bonds are issued from November, 1993 to December 31, 1994. Attached <br /> hereto as "Exhibit A" is an amendment to the Agreement which extends the <br /> term. <br /> Section 3: That the Village President and Village Clerk be and <br /> hereby are authorized to attest this Resolution authorizing the Amendment <br />