HomeMy WebLinkAboutRESOLUTION - 73-80 - 8/12/1980 - ALEXIAN BROS MED CENTER RESOLUTION NO. 73-80
A RESOLUTION EXPRESSING THE INTENT OF THE PRESIDENT AND BOARD OF
TRUSTEES OF ELK GROVE VILLAGE , COOK. AND DU PAGE COUNTIES , ILLINOIS ,
TO ASSIST ALEXIAN BROTHERS MEDICAL CENTER IN FINANCING A HOSPITAL
FACILITY LOCATED WITHIN THE VILLAGE
WHEREAS, the President and Board of Trustees of Elk Grove Village,
Cook and DuPage Counties , Illinois ("the Village") has heretofore found
that it is necessary and in the interest of the public health and welfare
of the residents of the Village to use the powers granted to the Village
under Section 6(a) of Article VII of the 1970 Constitution of Illinois to
authorize the issuance of bonds by the Village to assist not-for-profit
hospitals in building, maintaining and improving hospital and health care
facilities for the benefit of the residents of the Village; and
WHEREAS, the President and Board of Trustees has heretofore adopted
Ordinance No. 1390 , entitled:
"AN ORDINANCE RELATING TO ACQUISITION, CONSTRUCTION
AND FINANCING OF HOSPITAL FACILITIES"
(the Enabling Ordinance) , on August 12, 1980, which Ordinance
sets out the procedures for the issuance of such bonds ; and
WHEREAS, Alexian Brothers Medical Center (the"Medical Center") is a
hospital (as defined in the Enabling Ordinance) , and has requested the
Village to assist the Medical Center in financing a Project (as defined in
the Enabling Ordinance) ; and
WHEREAS, the Medical Center has requested the Village to issue its
Hospital Facility Revenue Bonds in accord with the provisions of the
Enabling Ordinance in the amount of approximately $20,000,000.00 (the "Bonds") :
NOW, THEREFORE , BE IT RESOLVED by the President and Board of Trustees of
the Village of Elk Grove Village, Cook and DuPage Counties, Illinois , as
follows:
Section 1 . The Village finds and determines that the construction,
acquisition and financing of the Project proposed by the Medical Center is
in the best interests of the residents of the Village and that it is in the
public interest that the Village take such action as it may lawfully take to
encourage the construction, acquisition and financing of the Project.
- 1 -
Section 2. The Village further finds and determines that the
issuance and sale of the Bonds , in accord with the procedures set out
in the Enabling Ordinance to finance the Project Costs (as defined in the
Enabling Ordinance) , will serve the public purposes referred to in the Enabl -
ing Ordinance.
Section 3. That in order to induce the Medical Center to proceed with
the Project , the Village hereby determines that (i) it will authorize and
issue the Bonds pursuant to the Enabling Ordinance to finance such Project
Costs; (ii) it will adopt a Bond Ordinance authorizing the execution and
delivery of the Bonds ; and (iii) it will take or cause to be taken such
other actions as may be required to consummate the issuance and sale of
the Bonds; provided, however, that all of the foregoing shall be as
authorized by law and the Enabling Ordinance, and shall be mutually acceptable
to the Medical Center and the Village.
Section 4. That this resolution shall be in full force and effect from
and after its passage and approval according to law.
PASSED this l2th day of August 1980.
APPROVED this 12th day of August 1980,
i
Village ,Piles+ dent
ATTEST:
Village Clerk