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HomeMy WebLinkAboutMinutes - 12/18/1986 - City CouncilSPECIAL MEETING THURSDAY, DECEMBER 18, 1986 7:30 P.M. The Special Meeting of the McHenry City Council was called to order by Mayor Busse on Thursday, December 18, 1986 at 7:30 P.M. at City Hall . At roll call the following Aldermen were present: Bol ger, Counci 1 Mc CI atchey, Smith, Snell , Serritell a, Teta. Absent: Lieder, Nolan. Mtg. City staff in attendance were Attorney Nary sis, Clerk Gilpin. Attendance Also in attendance were Steve Wilson of Blunt, Ellis and Loewi and Harold Warren of Warren Associates. Special Meetings Mayor Busse announced that the purpose of the meeting was to take three major actions regarding the sale and purchase of $4,200,000 worth of revenue bonds for construction of the McHenry South Wastewater Sewer Plant Sewer P1 ant. South The first action was to amend the Revenue Bond Ordinance which provides for a dating of the bonds on December 1 , 1986 instead of August 1 , 1986 and provides for a lessor amount to be deposited to the bond reserve account in view of a lessor amount of bonds to be issued. Motion by Smith, seconded by Mc CI atchey, to pass an ordinance amending Revenue Bond Ordinance 0-86-390 adopted by the City Council of the City of McHenry, McHenry County, Illinois on July 30, 1986 and pertaining to the issuance of $5,500,000 Waterworks and Sewerage Revenue Bonds, Series 1986A, of the City of McHenry, McHenry County, Illinois as presented. Voting Aye: Bolger, Mc CI atchey, Smith, Snell, Serritella, Teta. Voting Nay: None. Absent: Nolan, Lieder. Motion carried. The second action necessary was to pass a resolution confirming the sale of $4,200,000 worth of bonds. Motion by Mc CI atchey, seconded by Serritella, to pass a resolu- tion confirming the sale of and fixing the interest rates for $4,200,000 Waterworks and Sewage Revenue Bonds, Series 1986A, of the City of McHenry, McHenry County, Illinois as presented. Voting Aye: Bolger, Mc CI atchey, Smith, Snell, Serritella, Teta. Voting Nay: None. Absent: Nolan, Lieder. Motion carried. The third action necessary was to pass an ordinance authorizing the establishment of an escrow agreement with the American National Bank & Trust Company of Chicago who are to be named Escrow Agent/Bond Registrar and Paying Agent for the current issue of bonds. Sewer Plant South Ordinances Bonds Sewer Plant South Resolutions Bonds Motion by Smith, seconded by Snell , authorizing and directing Sewer Plant the execution of an Escrow Agreement in connection with the issuance of South $4,200,000 Waterworks and Sewerage Revenue Bonds, Series 1986A, of the Ordinances City of McHenry, McHenry County, Illinois as presented. Voting Aye: Bolger, McClatchey, Smith, Bonds Snell , Serritella, Teta. Voting Nay: None. Absent: Nolan, Lieder. Motion carried. Alderman Smith left the meeting at 8:10 P.M. Motion by Mc CI atchey, seconded by Snell, to adjourn. Voting Aye: Bolger, Mc CI atchey, Snell , Serritell a, Teta. Voting Nay: None. Absent: Nolan, Lieder, Smith. Motion carried. Meeting adjourned at 8:21 P.M. MATUK � GZ/ moo.