HomeMy WebLinkAboutResolutions - R-84-22 - 07/30/1984 - Bonds for CLR Development R-84-22
PRELIMINARY RESOLUTION
WHEREAS , C. L . R . DEVELOPMENT CORP , an Illinois
Corporation ( the "Company" ) wishes to finance the
construction and equipping of a certain professional and
medical office building located at 616 South Route 31 ,
McHenry, Illinois 60050 ( "Project" ) and wishes to have the
City of McHenry, Illinois ( the "City" ) issue its revenue
bonds to provide financing for such Project ; and
WHEREAS , a Memorandum of Agreement has been presented
to the City under the terms of which the City agrees ,
subject to the provisions of such agreement , to issue its
revenue bonds and lend the proceeds thereof to the Company
to finance such Project ;
NOW, THEREFORE , BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF McHENRY, McHENRY COUNTY, ILLINOIS AS FOLLOWS :
1 . That the Mayor and City Clerk of the City are
hereby authorized to execute a Memorandum of Agreement
with the Company in substantially the form of such
agreement as was presented at this meeting or with
such changes therein as shall be approved by the
officers executing the same .
2 . That the officers and employees of the City are
hereby authorized to take such further action as is
necessary to carry out the intent and purpose of the
Memorandum of Agreement as executed and to cause its
revenue bonds to be issued upon the terms and
conditions stated in such Memorandum of Agreement with
respect to the Project described in the Memorandum of
Agreement, which Memorandum of Agreement is hereby
made a part of this Resolution .
3 . That a public hearing on the Project in
compliance with Section 103 ( b ) of the Internal Revenue
Code of 1954 , as amended shall be held by the City
Council on SPptemhPr 5 , 1984 at 8:00 . M. at their
regular meeting place and the City Clerk is hereby
authorized and directed to cause notice of such public
hearing to be published in a newspaper of general
circulation within the City not less than 14 days
prior to said hearing date.
PASSED this 30thday of July , 1984.
AYES : Datz. McClatchPy, Snell , Sarritplla, Stanek
NAYS : Bolger, Nolan, Busse, Smith
ABSTAINED : None
ABSENT: None
NOT VOTING : None
APPROVED this 30th day of July , 1984 .
/..aopt/0,ek
MAYOR
ATTEST:
e4L
CITY CLERK