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HomeMy WebLinkAboutRESOLUTION - 27-89 - 4/25/1989 - GEN. OBLIGATION BONDS/SALE OF 10,000,000RESOLUTION NUMBER 27-89 RESOLUTION directing the advertisement of sale of $10,000,000 General Obligation Bonds, Series 1989, of the Village of Elk Grove Village, Cook County, Illinois. BE IT RESOLVED by the President and Board of Trustees of the Village of Elk Grove Village, Cook County, Illinois, as follows: Section 1. Sale Sealed bids shall be received on the 13 day of June 1989 for the purchase' of $10,000,000 General Obligation Bonds, Series 1989., of the Village of Elk Grove Village, Cook County, Illinois (the "Village"), authorized for library and public improvement purposes pursuant to the home rule powers of the Village and the Illinois Local Library Act. Section 2. Notice of Sale The Village Clerk is hereby ordered and directed to give notice of the sale of said bonds by mailing notice to pros- pective purchasers not less than seven days prior to the date above set for receiving such bids. Section 3. Summary Notice Published The Village Clerk is further ordered and directed to publish a summary notice of sale in The Bond Buyer, New York, New York, not less than ten days prior to the date hereinabove set for receiving such bids. -1- Section 4. Terms, Notices and Official Statement The Bonds shall be dated June 1, 1989, and become due serially on December 1 of the years up to 2009 as shall be determined. The Village Clerk is ordered and directed to consult with John Nuveen & Co. Incorporated, Chicago, Illinois, financial advisors to the Village, and Chapman and Cutler, Chicago, Illi- nois, Bond Counsel to the Village, to prepare said notices of sale and to prepare and make available to prospective purchasers an Official Statement for the sale of said bonds. Section 5. Repealer and Effective Date All resolutions or parts of resolutions in conflict herewith be and the same are hereby repealed, and this resolution shall be in full force and effect forthwith upon its passage. Passed this 25th day of April 1989. Approved this 25th day of April 1989. APPROVED: Charles J. Zettek President Village of Elk Grove Village Cook County, Illinois AYES: Trustees Joseph T. Bosslet, Ronald L. Chernick, Dennis J. Gallitano, Edward R. Hauser, James P. Petri, Michael A. Tosto NAYS: None ABSENT: None Recorded in Village Records: April 25, 1989. Attest: Patricia S. Smith Village Clerk Village of Elk Grove Village Cook County, Illinois ._2_ EXTRACT OF MINUTES of the regular public meeting of the President and Board of Trustees of the Village of Elk Grove Village, Cook County, Illinois, held at the Village Hall in said Village, located at 901 Wellington Avenue, at 8_00 p.m. on the -25th day of April 1989. The President called the meeting to order and directed the Village Clerk to call the roll. Upon the roll being called, the following Trustees answered present: Joseph T. Bosslet, Ronald L. Chernick, Dennis J. Gallitano, Edward R. Hauser, James I'. Petri, Michael A. Tosto The following were absent: taone The President and Board of Trustees then discussed the library and public improvement projects. Thereupon, Trustee Tosto presented and the Village Clerk read in full a resolution entitled: RESOLUTION directing the advertisement of sale of $10,000,000 General Obligation Bonds, Series 1989, of the Village of Elk Grove Village, Cook County, Illinois -1- Trustee Tosto moved and Trustee Petri seconded the motion that said resolution as presented and read be adopted. After a full discussion thereof, the President directed that the roll be called for a vote upon the motion to adopt the resolution as read. Upon the roll being called, the following Trustees voted "AYE"; Joseph T. Bosslet, Ronald L. Chernick, Dennis J. Gallitano, Edward R. Hauser, James P. Petri, Michael A. Tosto and the following Trustees voted "NAY": None WHEREUPON the President declared the motion carried and the resolution adopted, and henceforth did approve and sign the same in open meeting and did direct the Village Clerk to record the same in full in the records of the President and Board of Trustees of the Village of Elk Grove Village, Cook County, Illinois. Other business not pertinent to the proposed bond issue was duly transacted at said meeting. Upon motion duly made and seconded, the meeting adjourned. -2- Patricia S. Smith Village Clerk STATE OF ILLINOIS ) ) SS COUNTY OF COOK ) CERTIFICATION OF MINUTES AND RESOLUTION I, the undersigned, do hereby certify that I am the duly qualified and acting Village Clerk of the Village of Elk Grove Village, Cook County, Illinois (the "Village"), and as such official I am the keeper of the official journal of proceedings, books, records, minutes and files of the Village and of the President and Board of Trustees (the "Corporate Authorities") thereof. I do further certify that the foregoing is a full, true and complete transcript of that portion of the minutes of the meeting of the Corporate Authorities held on the 25th day of April 1989, insofar as the same relates to the adoption of a resolution entitled: RESOLUTION directing the advertisement of sale of $10,000,000 General Obligation Bonds, Series 1989, of the Village of Elk Grove Village, Cook County, Illinois. a true, correct and complete copy of which said resolution as adopted at said meeting appears in the foregoing transcript of the minutes of said meeting. I do further certify that the deliberations of the Corporate Authorities on the adoption of said resolution were taken openly; that the vote on the adoption of said resolution was taken openly; that said meeting was held at a specified time and place convenient to the public; that notice of said meeting was duly given to all newspapers, radio or television stations and other news media requesting such notice, and that said meet- ing was called and held in strict compliance with the provisions of the Open Meetings Act of the State of Illinois, as amended, and the Illinois Municipal Code, as amended, and that the Corpo- rate Authorities have complied with all of the provisions of said Act and said Code and with all of the procedural rules of the Corporate Authorities in connection with the passage of said resolution. IN WITNESS WHEREOF I hereunto affix my official signa- ture and the seal of the Village this 27th day of Anril 1989. Patricia S. Smith Village Clerk (SEAL)