HomeMy WebLinkAboutResolutions - RS-97-2 - 01/08/1997 - Public Hearing for $3.5 milliion BondsRS-97-2
RESOLUTION calling a public hearing concerning the
intent of the City Council of the City of McHenry,
McHenry County, Illinois, to sell not to exceed
$3,600,000 General Obligations Bonds (Alternate
Revenue Source)
WHEREAS, the City of McHenry, McHenry County, Illinois (the "City"),
is a duly organized and existing municipality created under the
provisions of the laws of the State of Illinois, and is now operating
under the provisions of the Illinois Municipal Code, and all laws
amendatory thereof and supplementary thereto, including the Local
Government Debt Reform Act of the State of Illinois, as amended; and
WHEREAS, the City Council of the City (the "City Council") intends
to sell bonds in the amount of not to exceed $3,600,000 for the purpose
of financing the costs of improving the waterworks and sewerage system
of the City, such improvements consisting of the expansion and
improvement projects for the south wastewater treatment plant (the
"Bonds"); and
WHEREAS, the Bond Issue Notification Act of the State of Illinois
requires the City Council to hold a public hearing concerning the City
Council Is intent to sell the Bonds before adopting a resolution providing
for the sale of the Bonds.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
McHenry, McHenry County, Illinois, as follows:
Section 1: Incorporation of Preambles. The City Council hereby
finds that all of the recitals contained in the preambles to this
Resolution are full, true and correct and does incorporate them into this
Resolution by reference.
Section 2: Public Hearing. The City Council hereby calls a public
hearing to be held at 7:30 o'clock P.M. on the 29th day of January, 1997,
at the Municipal Center, 333 South Green Street, McHenry, Illinois, in
the City, concerning the City Council's intent to sell the Bonds and to
receive public comments regarding the proposal to sell the Bonds (the
"Hearing").
Section 3: Notice. Notice of the Hearing shall be given by the
City Clerk of the City Council by publication at least once not less than
7 nor more than 21 days before the date of the Hearing in the Northwest
Herald, the same being a newspaper of general circulation in the City,
and shall not be placed in the legal notice or classified advertisement
sections of said newspapers.
Section 4: Form of Notice. Notice of the Hearing shall be in
substantially the following form:
NOTICE OF PUBLIC HEARING CONCERNING THE INTENT OF
THE CITY COUNCIL OF THE CITY OF MCHENRY,
MCHENRY COUNTY, ILLINOIS
TO SELL NOT TO EXCEED $3,600,000 GENERAL OBLIGATION BONDS
(ALTERNATE REVENUE SOURCE)
PUBLIC NOTICE IS HEREBY GIVEN that the City of McHenry, McHenry
County, Illinois (the "City"), will hold a public hearing on the 29th day
of January, 1997, at 7:30 o'clock P.M. The hearing will be held at the
Municipal Center, 333 South Green Street, McHenry, Illinois. The purpose
of the hearing will be to receive public comments on the proposal to sell
bonds of the City in the amount of not to exceed $3, 600, 000 for the
purpose of financing the costs of improving the waterworks and sewerage
system of the City, such improvements consisting of the expansion and
improvement projects for the south wastewater treatment plant.
By order of the City Council of the City of McHenry, McHenry County,
Illinois.
DATED this 8th day of January, 1997.
City Clerk
Section 5: Hearing Requirements. At the Hearing the City Council
shall explain the reasons for the proposed bond issue and permit persons
desiring to be heard an opportunity to present written or oral testimony
within reasonable time limits. The City Council shall not adopt a
resolution selling the Bonds for a period of seven (7) days after the
final adjournment of the Hearing.
Section 6: Repeal. All resolutions and parts thereof in conflict
herewith be and the same are hereby repealed, and this Resolution shall
be in full force and effect as provided by law.
Adopted January 8, 1997.
AYES: Bolster, Locke, Bates Lawson Baird
NAYS: None
ABSENT: None
ABSTAINED: None
NOT VOTING: None
Approved January 8, 1997.
Mayor
_.ATTEST:
C''ty Cle k / i
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