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RESOLUTION NO. 11-90 <br />A RESOLUTION TO ENACT A CONVENTION CENTER TAX AND ENTER <br />INTO AN INTERGOVERNMENTAL AGREEMENT WHEREBY THE VILLAGE <br />OF ELK GROVE VILLAGE WILL SUPPORT THE ILLINOIS INTER- <br />NATIONAL CONVENTION CENTER <br />WHEREAS, the Schaumburg Metropolitan Exposition, Auditorium and Office <br />Building Authority (hereinafter called the "Authority") has made <br />application to the State of Illinois (the "Application") for funding in the <br />sum of $20.0 Million for the construction of the Illinois International <br />Convention Center in the Greater Woodfield Area (the "Convention <br />Center"); and <br />WHEREAS, as part of the Authority's Application, the Authority must <br />submit evidence that municipalities in the Greater Woodfield Area are <br />willing to provide economic support for the Convention Center; and <br />WHEREAS, the Village of Elk Grove Village believes that the Village of <br />Elk Grove Village will receive significant economic benefit from the <br />Convention Center through increases in tourism and hotel and motel use and <br />occupancy and in connection therewith an increase in the tax base for <br />sales, hotel and other taxes. <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, State of <br />Illinois as follows: <br />Section 1: That the Village of Elk Grove Village shall, subject to <br />conditions to be established by the Village of Elk Grove Village, enter <br />into an intergovernmental agreement acceptable to the Village with the <br />Authority, and other communities, pursuant to which the Village shall, <br />among other things, enact a 2% tax on the privilege of renting a hotel or <br />motel room within the Village of Elk Grove Village and pay over to the <br />