HomeMy WebLinkAboutResolutions - R-99-037 - 12/01/1999 - AUTHORIZE AMENDMENT TO R-99-033 RE NIMED IRBSRESOLUTION NO. R-99- 037
A RESOLUTION OF THE CITY OF MCHENRY, ILLINOIS (THE "CITY") AUTHORIZING THE AMENDMENT OF
RESOLUTION NUMBER R-99-033 AND AUTHORIZING THE EXECUTION OF A TRUST INDENTURE BETWEEN
THE CITY AND AMERICAN NATIONAL BANK AND TRUST COMPANY OF CHICAGO.
WHEREAS, on October 13, 1999, the City Council of the City adopted
Resolution No R-99-033 titled "A Resolution of the City of McHenry, Illinois
authorizing the execution and delivery of an Intergovernmental Cooperation Agreement
among the City, the Village of Antioch, Illinois, the Village of Huntley, Illinois, the City
of Woodstock, Illinois, the Village of Lake in the Hills, Illinois, the Village of Island
Lake, Illinois and the Village of Fox Lake, Illinois, regarding the financing of various
capital projects; authorizing the issuance and confirming the sale of not -to -exceed (1)
$6,000,000 aggregate principal amount of Health Facilities Revenue Bonds (MIMED
Corporation Projects) Series 1999A of the City; and (2) $14,000,000 aggregate principal
amount of Taxable Health Facilities Revenue Bonds (MIMED Corporation Projects)
Series 1999B of the City; for the purpose of financing various industrial projects in
accordance with the Intergovernmental Cooperation Agreement; authorizing the
execution and delivery of a Trust Indenture, a Loan Agreement, A Tax Exemption
Agreement and Certificate and a Bond Purchase Agreement; and providing for related
matters." (the "Resolution"); and
- - WHEREAS, the Resolution authorized the execution of a Trust Indenture (the
"Indenture") between the City and First Midwest Trust Company, N.A. ("First.
Midwest"); and
WHEREAS, NIMED Corporation, an Illinois not -for -profit corporation (the:
"Borrower") has requested that American National Bank and Trust Company of Chicago
be -ppointed Trustee (the "Trustee") under the Indenture in lieu of the First Midwest; and
WHEREAS, it is necessary to authorize the appointment of the Trustee and the
execution and delivery of the Indenture between the City and the Trustee;
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of
McHenry, Illinois as follows:
SECTION 1. The recitals contained in the preambles to this
Resolution are hereby incorporated in this Resolution by this reference.
SECTION 2. The Resolution is hereby amended to appoint American National
Bank and Trust Company of Chicago as Trustee and the Mayor and City Clerk are hereby
authorized and directed to execute and deliver the Indenture between the City and the
Trustee in substantially the form attached hereto as Exhibit A and containing
substantially the terms and provisions set forth therein with such insertions, deletions,
changes, omissions, and variations as the Mayor may deem appropriate (such approval by
the Mayor of any such changes shall be conclusively established by the execution of the
Indenture by the Mayor).
SECTION 3. Except as amended hereby, all provisions of the Resolution shall
remain in full force and effect.
SECTION 4. The provisions of this Resolution are hereby declared to be
separable, and if any section, phrase or provision, shall for any reason be declared to be
invalid, such declaration shall not affect the validity of the remainder of the sections,
phrases, and provisions.
SECTION 5. This Resolution shall be and the same is hereby declared to be
effective immediately upon its passage and approval by the Mayor.
PASSED and APPROVED this Y'} day of �Z c t, A k�� .91999.
By:
ayor
ATTEST:
C ty Clerk