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RESOLUTION NO. 31-93 <br />A RESOLUTION APPROVING AN INDUSTRIAL PROJECT FOR THE <br />BENEFIT OF GRECIAN DELIGHT FOODS, INC. (1201 TONNE ROAD) <br />WHEREAS, the Illinois Development Finance Authority (the "Authority") <br />proposes to issue not to exceed $8,900,000 aggregate principal amount of <br />its industrial development revenue bonds (the "Bonds"), the proceeds of <br />which will be loaned to Grecian Delight Foods, Inc. for the purpose of <br />providing funds to finance the purchase and renovation of an existing <br />manufacturing facility, the construction of an addition to the existing <br />facility and the equipping thereof to be used in the manufacture of <br />specialty food products (the "Project") and to pay expenses related to the <br />issuance of the bonds; and <br />WHEREAS, the Project will be operated by the Borrower and will be <br />located at 1201 Tonne Road, Elk Grove Village, Illinois 60007; and <br />WHEREAS, the President and Board of Trustees of the Village of Elk <br />Grove Village, Illinois desire to express their approval of the Project, <br />pursuant to Section 6.1 of the Illinois Development Finance Authority Act, <br />Chapter 48, Section 850.06-1, Illinois Revised Statutes. <br />NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees <br />of the Village of Elk Grove Village, Counties of Cook and DuPage, State of <br />Illinois as follows: <br />Section 1: That the Project is hereby approved. <br />Section 2: That all orders and resolutions and parts thereof in <br />conflict herewith be and the same hereby are repealed, and this Resolution <br />shall be in full force and effect forthwith upon its passage and approval, <br />as provided by law. <br />