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RESOLUTION NO. 76-93 <br /> A RESOLUTION REGARDING THE PROPOSED REFUNDING OF OUTSTANDING <br /> GENERAL OBLIGATION BONDS OF THE VILLAGE OF ELK GROVE VILLAGE <br /> NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees <br /> of the Village of Elk Grove Village, Illinois as follows: <br /> Section 1: That it is hereby determined that it is in the best <br /> interests of the Village of Elk Grove Village to develop a plan for the <br /> refunding of a portion of the Village's outstanding Corporate Purpose <br /> Bonds , Series 1985, Series 1989, Series 1991 and Series 1992, by issuance <br /> of general obligation refunding bonds of the Village. <br /> Section 2: That with respect to the proposed general obligation <br /> refunding bonds, (i) R. V. Norene & Associates is retained as financial <br /> advisor; (ii ) Authorize retaining Chapman & Cutler as bond counsel and <br /> (iii ) First Chicago Capital Markets, Inc. is retained as underwriter. <br /> Section 3: That the Village President is hereby authorized to enter <br /> into a bond purchase agreement with First Chicago Capital Markets, Inc. , <br /> providing for the terms of sale of the general obligation refunding bonds, <br /> subject however to the satisfaction of the condition that the present value <br /> savings as a result of the refunding shall be no less than $180,000.00. <br /> Section 4: That this Resolution shall be in full force and effect <br /> after its passage and approval according to law. <br /> PASSED this 14th day of December , 1993. <br /> APPROVED this 14th day of December , 1993. <br /> Dennis J. Gallitano <br /> Village President <br /> ATTEST: <br /> Patricia S. Smith <br /> Village Clerk <br />