HomeMy WebLinkAboutMinutes - 12/19/1983 - City Council (2)PUBLIC HEARING
MONDAY, DECEMBER 19, 1983 8:00 P.M.
Mayor Stanek called to order a recessed Public Hearing of the Council
McHenry City Council on Monday, December 19, 1983 at 8:00 P.M. in city
hall for the purpose of considering the proposed issuance by the City of Public
McHenry of -its $775,000.00 principal amount Industrial Project Revenue
Bond, proceeds there of which Theodore Schweder 2609 West Wyandotte Avenue,
McHenry, Illinois, Ronald Bykowski 3717 West Elm Street, McHenry, Illinois
and James Shaid 4814 Strong Road, Crystal Lake, Illinois, to finance the
cost of acquisition of land and a building of 24,200 square feet, located
at 3722 West Elm Street, McHenry, Illinois and for remodeling of said
building for use as commercial rental spaces by various tenants.
At. roll call the following Aldermen were present: Busse, McClatchey,
Datz, Smith„ Snell, Serritella. Absent: Bolger, Nolan. City staff in attend-
ance were City Attorney Narusis, Clerk Gilpin, Chief Pasenelli, Park Director
Merkel. Members of the audience were Ronald Bykowski, a partner in Heritage
Investment; Attorney John Pertile, Representing Heritage Investment; Donald
Gerstad of RDG; Superintendent Robert Swartzloff of District 156; Ray Lowe
and Ronald Bierman of the McHenry Lions Club; High School students Bill
Miller, Kathy Lang and Heike Nuhsbaum; Tony Oliver of McHenry Plaindealer and
Shawn Mondel of Lakes Cablevision.
Attorney Narusis reported that all the documents were in order and
copies had been delivered to the aldermen Saturday for their review. Closing
on the Industrial Revenue Bonds was set for Tuesday, December 20, 1983 at
10 A.M. at McHenry State Bank.
Mayor Stanek asked if anyone at the Public Hearing wanted to make any
written or oral statements regarding this project. There were no comments or
questions from anyone in the audience or from the aldermen in attendance.
Motion by Busse, seconded by Datz, to pass a resolution provi-
ding for the financing by the City of McHenry, Illinois of a project con-
sisting of acquisition of land and a building and remodeling of said building
and related property in order that Heritage Investment Services, an Illinois
General Partnership, may be provided with facilities to relieve conditions of
unemployment and encourage the increase of commerce: Authorizing and providing
for the issuance by said City of McHenry, Illinois of its Industrial Revenue
Bond (Heritage Investment Services project) which will be payable solely from
the receipts from a loan agreement; authorizing the execution and delivery of
a loan agreement between the City of McHenry, Illinois and Heritage Investment
Services, providing for acquisition, remodeling and financing of said project:
Authorizing the execution and delivery of an assignment and agreement as
security for the payment of said bond: Confirming sale of said bond to the
purchaser thereof: and related matters.
Voting Aye: Serritella, Snell, Smith, McClatchey, Datz, Busse,
Stanek.
Voting Nay: None.
Absent: Bolger, Nolan.
Motion carried.
Motion by Snell, seconded by,McClatchey, to adjourn the Public
Hearing.
Voting -Aye: Serritella, Snell, Smith, McClatchey, Datz, Busse
Voting Nay: None.
Absent: Bolger, Nolan.
Motion carried.
Meeting adjourned at 8:06 P.M.
MAYOR CIT Y CLERK
Meetinll
Hrg. j
Attendance
i
Resolution
Industrial)
Revenue
Bonds