HomeMy WebLinkAboutRESOLUTION - 7-01 - 2/13/2001 - GENERAL OBLIGATION BONDS RESOLUTION NO. 7-01
A RESOLUTION REGARDING THE PROPOSED REFUNDING OF OUTSTANDING
GENERAL OBLIGATION BONDS OF THE VILLAGE OF ELK GROVE VILLAGE
NOW, THEREFORE, BE IT RESOLVED by the Mayor and Board of Trustees
of the Village of Elk Grove Village, Illinois as follows:
Section 1 : That it is hereby determined that it is in the best
interests of the Village of Elk Grove Village to develop a plan for
the refunding of the Village's outstanding Corporate Purpose Bonds,
Series 1992, currently by issuance of general obligation refunding
bonds of the Village.
Section 2: That with respect to the proposed general obligation
refunding bonds, (i) Authorize retaining Katten, Muchin, & Zavis as
bond counsel and (ii) Griffin, Kubik, Stephens & Thompson, Inc. , as
underwriter.
Section 3: That the Mayor is hereby authorized to enter into a
bond purchase agreement with Griffin, Kubik, Stephens & Thompson,
Inc. , providing for the terms of sale of the general obligation
refunding bonds, subject however to the satisfaction of the
condition that the present value savings as a result of the
refunding shall be no less than $100, 000. 00.
Section 4 : That this Resolution shall be in full force and
effect after its passage and approval according to law.
VOTE: AYES: 6 NAYS: 0 PRESENT: 6 ABSENT: 0
PASSED this 13th day of February , 2001 .
APPROVED this 13th day of February , 2001 .
Craig B. Johnson
Mayor
ATTEST:
Ann I. Walsh
Village Clerk
Published this 16th day Of February 2001 in Pamphlet form.
RES0160GenObBondsRefund0l.doc