Laserfiche WebLink
RESOLUTION 1-83 <br />A RESOLUTION AMENDING RESOLUTION NO. 60-81, ESTABLISHING THE POLICY <br />AND PROCEDURAL GUIDELINES FOR THE ISSUANCE OF INDUSTRIAL REVENUE <br />BONDS FOR THE VILLAGE OF ELK GROVE VILLAGE, SECTION I, PHASE 1, <br />PARAGRAPH P; SECTION II, PHASE 2, PARAGRAPH B; SECTION III, PHASE <br />3, PARAGRAPH D AND RENUMBERING SECTION III, PHASE 3, TO SECTION IV, <br />PHASE 4; AND ADDING NEW SECTION III, PHASE 3, OF THE VILLAGE OF <br />ELK GROVE VILLAGE <br />NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees of <br />the Village of Elk Grove Village, Counties of Cook and DuPage, State of <br />Illinois: <br />Section 1: That the President and Board of Trustess do hereby authorize <br />an amendment to Resolution No. 60-81, Establishing the Policy and Procedural <br />Guidelines for the Issuance of Industrial Revenue Bonds for the Village of <br />Elk Gorve Village as follows: <br />Section I. Phase 1, paragraph p, should read as follows: <br />p. A statment of the public purpose to be served by <br />the issuance of Industrial Revenue Bonds for the <br />project, including but not limited to the affects <br />on municipal tax base, sales tax revenue or local <br />employment. Where appropriate, specific information <br />should be provided. <br />Section 72. Phase 2, paragraph B, should read as follows: <br />B. Costs. In addition to the nonrefundable application <br />fee previously paid by the applicant, the applicant <br />will deposit with the Village an amount established <br />from time to time by the Village Board and Trustees <br />for the fees of the financial consultants and/or <br />fees of any and all other consultants deemed neces- <br />sary for the Phase 2 review. No further action will <br />be taken on the application until such time as this <br />deposit has been paid. <br />In addition, the applicant shall be responsible for <br />and shall pay any and all out of pocket expenses <br />incurred by the Village of Elk Grove Village in <br />connection with the review of the applicant's <br />application including but not limited to attorney's <br />fees, preparation and duplication of documents, and <br />related costs. The applicant shall be invoiced for <br />and shall pay all such costs within 10 days of <br />receipt of said invoice. No further action on the <br />application shall be taken until such time as these <br />fees have been paid. <br />Section III, Phase 3, renumbered to Section IV. Phase 4, and <br />new Section III, Phase 3, to read as follows: <br />The Village Board, upon favorable recommendation by <br />the Judiciary Planning and Zoning Committee shall be <br />requested to call a public hearing regarding the <br />issuance of Industrial Revenue Bonds on behalf of <br />the applicant. <br />-1- <br />