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9/1/17/03 <br />RESOLUTION NO. L-6-3 <br />A RESOLUTION AUTHORIZING THE SALE OF 0,750,000 <br />OF WATERWORKS AND SEWERAGE REVENUE BONDS SERIES 1963 <br />WHEREAS, the President and Board of Trustees of the <br />Village of Elk Grove Village did on the 20th day of December, <br />1962, pass and approve Ordinance No. 2b3, which ordinance did <br />authorize and provide for the issuance of 64,000,000 of Waterworks <br />and Sewerage Revenue Bonds Series 1963, and <br />WHEREAS, the President and Board of Trustees of the <br />Village of Elk Grove Village deem it necessary and convenient <br />that 0,750,000 of Waterworks and Sewerage Revenue Bonds, being <br />part of the $4,000,000 in bonds heretofore authorized by Ordinance <br />No. 263, be sold at this time, reserving the Villagers right to <br />issue the additional 6y250,000 of Waterworks and Sewerage Revenue <br />Bonds authorized by ordinance Ivo. 263 at a future time, and <br />WHEREAS, the purpose of selling said bonds is to obtain <br />the moneys necessary for the Village to acquire the properties of <br />the Elk Grove Water and Sewer Company, Inc. and make necessary <br />and appropriate improvements to same as provided for in Ordinance <br />No. 263, and <br />WrL1,EAS, it is deemed to the beat interests of the Vil- <br />lage that said 0,750,000 of Waterworks and Sewerage Revenue Bonds <br />be sold competitively to the best bidder at a public sale and that <br />all steps be taken to stimulate competition among bond buyers to <br />purchase at such sale; <br />NOW, ThEREFORE, BE IT RESOLVED by the President and <br />Board of Trustees of the Village of Elk Grove Village, Counties <br />of Cook and DuPage, Illinois; <br />Section 1.That ;;;3,750,000 of Waterworks and Sewerage <br />Revenue Bonds Series 1963, which bonds have heretofore been <br />authorized by Ordinan"e No. 263, passed and approved December 20, <br />19622 be sold for the purpose of acquiring the moneys with which <br />to purchase the properties of the Elk Grove Water and Sewer Com- <br />pany, Inc. and making necessary improvements thereto; said bonds <br />to mature on May 1 in each of the years and at the amounts here- <br />after set forth: <br />1966 <br />$100000 <br />1979 <br />$140,000 <br />1967 <br />20,000 <br />1980 <br />1500000 <br />1968 <br />0,000 <br />0,000 <br />lVQl <br />19 2 <br />16o,000 <br />170,000 <br />1969 <br />1970 <br />50,000 <br />1983 <br />1800000 <br />1971 <br />6o,000 <br />198.E <br />1y00000 <br />1972 <br />709000 <br />1985 <br />200,000 <br />1973 <br />809000 <br />1986 <br />2100000 <br />1974 <br />908000 <br />1987 <br />220,000 <br />1975 <br />1009000 <br />1988 <br />2 09000 <br />1976 <br />1100000 <br />1989 <br />2409000 <br />1977 <br />120,000 <br />1990 <br />240,000 <br />1978 <br />130,000 <br />1991 <br />250,000 <br />1992 <br />26o,000 <br />and oe in the form and in full accord with the provisions made <br />for said bonds as provided for in Ordinance IIo. 263. <br />