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RESOLUTION N'0. 61-93 <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 Trustees <br /> 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 the <br /> refunding of a portion of the Village' s outstanding Corporate Purpose <br /> Bonds , Series 1985, Series 1989 and Series 1991, 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) R. V. Norene & Associates is retained as financial <br /> advisor; (ii ) Authorize retaining appropriate bond counsel and (iii ) <br /> First Chicago Capital Markets , Inc. is retained as underwriter. <br /> Section 3: That the Village President is hereby authorized to enter <br /> into a bond purchase agreement with First Chicago Capital Markets, Inc,. , <br /> providing for the terms of sale of the general obligation refunding bonds, <br /> subject however to the satisfaction of the condition that the present value <br /> savings as a result of the refunding shall be at least $300,000.00. <br /> Section 4: That this Resolution shall be in full force and effect <br /> after its passage and approval according to law. <br /> PASSED this 12th day of October 1993. <br /> APPROVED this 12th day of October 1993. <br /> Dennis J . Gallitano <br /> Village President <br /> ATTEST: <br /> Patricia S. Smith <br /> Village Clerk <br />