HomeMy WebLinkAboutResolutions - 06-09 - 07/10/2006 - Riverwalk Project Obligations Resolution No R-06- 009
Resolution expressing official intent regarding certain expenditures for capital
projects related to the Riverwalk Project to be reimbursed from proceeds of an
obligation to be issued by the City of McHenry, McHenry County, Illinois.
WHEREAS,the City Council (the "Corporate Authorities") of the City of McHenry,
McHenry County, Illinois(the "City"), ha.s developed a list of capital projects related to the
Riverwalk Project (the "Project") described in ExhibitA hereto; and
WHEREAS, a11 or a portion of the expenditures relating to the Project (the
"Expenditures") (i)have been paid within the 60 days prior to the passage of this Resolution or
(ii)will be paid on or after the passage of this Resolution; and
WHEREAS,the City reasonably expects to reimburse itself for the Expenditures with
the proceeds of an obligaticin.
NOW, THEREFORE, BE IT AND�T IS HEREBY RESOLVED by the City Council
of the City of McHenry, McHenry County, Illinois, as follows:
SECTION 1.Incorporation of Preambles. The Corporate Authorities hereby find 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 this reference.
SECTION 2.Intent to Reimburse. The City reasonably expects to reimburse the
E�enditures with proceeds of an obligation.
SECTION 3.Maximum Amount. The maximum principal amount of the obligations
expected to be issued for the Project is $3,000,000.
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SECTION 4.Ratificatiorz All actions of the officers, agents and employees of the City
that are in conformity with the purposes and intent of this Resolution, whether taken before or
after the adoption hereof, are hereby ratified, confirmed and approved.
PASSED AND APPROVED this lOth day of July, 2006.
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