HomeMy WebLinkAboutResolutions - R-83-26 - 10/17/1983 - Chroma Corporation bonds No. R-83-26
PRELIMINARY BOND RESOLUTION
WHEREAS, Chroma Corporation, a Delaware corporation (the
'Company") wishes to finance the construction and equipping of a
certain one-story industrial building as an attached addition to
the existing Chroma Corporation facility located at 3900 Dayton
Street, McHenry, Illinois 60050 (the "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.
PASSED this 17th day of October, 1983.
AYES: Bolger, Nolan, Datz, Busse, Smith, McClatchey, Serritella, Snell
NAYS: None
ABSENT: None
ABSTAINED: None
NOT VOTING: None
APPROVED this 17th day of October, 1983.
Mayor
ATTEST:
City Clerk