HomeMy WebLinkAboutResolutions - R-01-021 - 10/01/2001 - EXPRESS INTENT TO REIMBURSE FOR CAPITAL EXPENDITURR-01-021
RESOLUTION expressing official intent regarding certain capital
expenditures to be reimbursed from proceeds of an obligation to be
issued by the City of McHenry, McHenry County, Illinois.
WHEREAS, the City Council (the "City Council") of the City of McHenry,
McHenry County, Illinois (the "City"), has developed a list of capital projects (the
"Projects") described in Exhibit A hereto: and
WHEREAS, all or a portion of the expenditures relating to the Projects (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 obligation:
NOW, THEREFORE, Be It and It is Hereby Resolved by the City Council of the
City of McHenry, McHenry County, Illinois, as follows:
Section 1. Incorporation of Preambles. The City Council hereby finds 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
Expenditures with proceeds of an obligation.
Section 3. Maximum .4mount. The maximum principal amount of the
obligations expected to be issued for the Projects is $6,800,000.
Section 4. Ratification. 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.
Section 5. Severabiliry. If any section, paragraph or provision of this
Resolution shall be held to be invalid or unenforceable for any reason, the invalidity or
unenforceability of such section, paragraph or provision shall not affect any of the
remaining provisions of this Resolution.
Section 6. Repeal. All resolutions or parts thereof in conflict herewith be and
the same are hereby repealed and this Resolution shall be in full force and effect
forthwith upon its adoption.
NAYS:
ABSENT:
ATTEST:
APPROVEDOCTOBER 1 2001
Mayor, City of Mc eery
McHenry County, Illinois
Exhibit A
List of Projects
McCullom Lake Road and Rt. 31 Intersection Improvements
North Interceptor Sewer
Edgebrook Drainage