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RESOLUTION NO. 8-09 <br /> A RESOLUTION CEDING THE AGGREGATE UNUSED INDUSTRIAL REVENUE <br /> BONDS OF THE VILLAGE OF ELK GROVE VILLAGE TO THE ILLINOIS FINANCE <br /> AUTHORITY FOR USE WITHIN THE CORPORATE LIMITS OF ELK GROVE <br /> VILLAGE <br /> WHEREAS, The Village of Elk Grove Village (the "Home Rule Unit") is a home rule unit <br /> of government duly organized and validly existing under Article VII of the 1970 Constitution and <br /> laws of the State of Illinois; and <br /> WHEREAS,the Home Rule Unit's portion of the State Ceiling is $85. per capita(the <br /> "Available Ceiling")- and <br /> WHEREAS, the Home Rule Unit has an unused balance of allocated Available Ceiling for <br /> calendar year 2009; and <br /> WHEREAS, it is in the best interest of the Home Rule Unit to transfer and reallocate the <br /> Home Rule Unit's remaining; unused allocated Available Ceiling to the Authority and thereby <br /> permit the Authority to issue its tax-exempt private activity bonds to finance industrial, <br /> manufacturing, and commercial projects for economic development purposes.throughout the <br /> Village of Elk Grove Village. <br /> NOW, THEREFORE, BE IT RESOLVED by the Mayor and Board of Trustees of the <br /> Village of Elk Grove Village, Counties of Cook and DuPage, State of Illinois as follows: <br /> Section 1: That the Village of Elk Grove Village hereby transfers and reallocates its <br /> unused allocated Available Ceiling to the Authority for the purpose of enabling the Authority to <br /> complete the financing of industrial, manufacturing, and commercial projects for economic <br /> development purposes throughout the Village of Elk Grove Village. <br /> Section 2: That the Authority and Home Rule Unit shall each retain a copy of this <br /> Resolution in their records for the term of all private activity bonds of the Home Rule Unit issued <br /> during calendar year 2009. Notice of this Resolution together with a copy of this Resolution <br /> 1 <br />