HomeMy WebLinkAboutRESOLUTION - 76-93 - 12/14/1993 - GENERAL OBLIGATION BONDS, OUTSTANDING RESOLUTION NO. 76-93
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 President 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 a portion of the Village's outstanding Corporate Purpose
Bonds , Series 1985, Series 1989, Series 1991 and Series 1992, by issuance
of general obligation refunding bonds of the Village.
Section 2: That with respect to the proposed general obligation
refunding bonds, (i) R. V. Norene & Associates is retained as financial
advisor; (ii ) Authorize retaining Chapman & Cutler as bond counsel and
(iii ) First Chicago Capital Markets, Inc. is retained as underwriter.
Section 3: That the Village President is hereby authorized to enter
into a bond purchase agreement with First Chicago Capital Markets, 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 $180,000.00.
Section 4: That this Resolution shall be in full force and effect
after its passage and approval according to law.
PASSED this 14th day of December , 1993.
APPROVED this 14th day of December , 1993.
Dennis J. Gallitano
Village President
ATTEST:
Patricia S. Smith
Village Clerk