HomeMy WebLinkAboutResolutions - R-17-016 - 09/05/2017 - IDOT GO Bond-�� 6 ac
Illinois Department
of Transportation
Obligation Retirement Resolution
(County or Municipal)
A resolution providing for the retirement of certain municipal indebtedness by the use of motor fuel tax funds
WHEREAS, the City of McHen
(County or Municipality)
indebtedness described as follows:
$3.51 Million Taxable General Obligation Bonds - Section 09-00072-00-GB
(Title of bond issue or paving district and municipal motor fuel tax section number)
has outstanding
Bonds or
Public Benefit
Assessments
Number of
the Bonds or
Assessments
Interest
or
Principal
Date
Due
Amount
2010B
6/15/2017
$31,078.75
2010B
12/15/2017
$31,078.75
2010B
12/15/2017
$365,000.00
Tort
WHEREAS, in the opinion of this body, the indebtedness described in the preceding paragraph may be retired with funds
allotted to the municipality under the Motor Fuel Tax Law, and
WHEREAS, it appears that sufficient motor fuel tax funds are or will be available when the above indebtedness is due, and
WHEREAS, the McHenry City Council has, by resolution adopted
(County Board, Council or President and Board of Trustees)
directed the Clerk of McHenry County to cancel the
12/5/2016
2016 tax levy (for taxes
(year)
collectable in 2017 ) which would have produced funds to pay this indebtedness. (Not applicable to special
(year)
assessment projects.)
NOW, THEREFORE, BE IT RESOLVED, that there is hereby appropriated the sum of Four hundr twenty seven thous
one hundr fifty seven &50/100 dollars ($ 427,157.50 ) from funds allotted to the county or municipality
under the Motor Fuel Tax Law for the payment of the above -described indebtedness, and
BE IT FURTHER RESOLVED, that the Clerk shall immediately transmit three (3) certified copies of this resolution to the
Regional Engineer, Department of Transportation, Schaumburg , Illinois.
Page 1 of 2 IL 494-0284 BLR 15411 (Rev. 7/05)
Printed on 8/25/2017 10:54:26 AM
I, Lynzi Nevitt
for the City of McHen
(County or Municipality)
City Clerk in and
(County or Municipal)
hereby certify
the foregoing to be a true, perfect and complete copy of a resolution adopted by the
City Council at a meeting on September 5, 2017
(County Board, Council or President and Board of Trustees)
IN TESTIMONY WHEREOF, I have hereunto set my hand and seal this 5tn day
of September A.D. 2017
City L l Clerk.
(County or Municipal)
(Seal)
Page 2 of 2 IL 494-0284 BLR 15411 (Rev. 7/05)
Printed on 8/25/2017 10:54:26 AM