HomeMy WebLinkAboutRESOLUTION - 14-60 - 10/24/1960 - TIME LIMITATION ON SALE OF BONDSRESOLUTION NO. 14-60
RESOLUTION PROVIDING A TIME LIMITATION
ON THE SAIE OF BONDS OF THE VILLAGE OF
ELK GROVE VILLAGE, ILLINOIS
WHEREAS, the President and Board of Trustees of the Village of
Elk Grove Village did heretofore on the 29th day of September, 1960
establish October 24, 1960 as the date for the sale of $400,000 General
Obligation Bonds of said Village, consisting of three separate issues for
Street Equipment, Fire Equipment and Municipal Building purposes, and
WHEREAS, it is for the best interests of the said Village that
prospective bidders be assured that additional bonds of the Village will
not be authorized or sold until a reasonable time has elapsed Yellowing
delivery of said $400,000 bonds.
NOWo THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE OF ELK GROVE VILLAGE, COOK COUNTY, ILLINOIS, as
follows:
Section 1 It is hereby found and determined that it is for the
best interests of the Village that no additional bonds of the Village be
authorized or sold for a period of 90 days following delivery of the
$400,000 various purpose bones of the Village on which bids are to be re-
ceived October 24, 1960.
Section 2 The President and Board of Trustees on behalf of the
Village hereby agree with the successful purchaser of said bonds that it
will not authorize or offer for sale any general obligation bonds of said
Village until 90 days have elapsed following actual delivery of said bonds
to such purchaser or until February 5, 1961, whichever date is earlier.
Moved by Trustee Hartshorn and seconded by Trustee Dillon that
the foregoing Resolution be adopted.
Ayes: Dillon, Hartshorn, Scharringhausen, Smith, Young
Nays: None
Absent: Carroll
ADOPTED this 24th day of October, 1960.
Attest:
Dolores L. Oberg
Village Clerk
har]e s A. Hodlmair
President
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