HomeMy WebLinkAboutOrdinances - O-90-524 - 01/22/1990 - AUTHORIZE ISSUE SEWERAGE REV BONDS $5.05MORDINANCE NUMBER 0-90-524
AN ORDINANCE authorizing the issuance of
Sewerage Revenue Bonds of the CITY OF
MCHENRY COUNTY, ILLINOIS
WHEREAS the City of McHenry, McHenry County,
Illinois (the "City"), operates a combined waterworks and
sewerage system (the "System") and in accordance with the
provisions of Municipal Code, Chapter 24, Par. 11-139-1 et.
seq. and the Local Government Debt Reform, P.A. 85-1419,
approved December 15, 1988 (collectively, the "Act"); and
WHEREAS the Mayor and City Council of the City
(the "Corporate Authorities") have determined that it is
advisable, necessary and in the best interests of public
health, safety and welfare to improve the System, including
the following: expansion of existing City of McHenry, South
Waste Water Treatment Plant to 15,000 P.E. with the addition
of raw wastewater pumping, grit removal, additional rotating
screen equipment, dechlorination, sludge thickening followed
by aerobic digestion and mechanical dewatering together with
any and all electrical, mechanical or other services
necessary, useful or advisable to such construction and
installation (the "Project"), all in accordance with the
plans and specifications therefor prepared by consulting
engineers to the City; and
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WHEREAS the estimated cost of constructing and
installing the Project, including engineering, legal,
financial, and other related expenses, is $5,050,000.00 and
there are insufficient funds on hand and lawfully available
to pay such costs; and
WHEREAS such costs are expected to be paid for
with a loan to the City from the Illinois Environmental
Protection Agency through the Water Pollution Control
Revolving Fund, said loan to be repaid from the revenues of
the System and such loan is authorized to be accepted at
this time pursuant to the Act; and
WHEREAS pursuant to and in accordance with the
provisions of the Act, the City is authorized to borrow
funds from the Water Pollution Control Revolving Loan. Fund
in the aggregate principal amount of $5,050,000.00 for the
purpose of providing funds to pay the costs of the Project;
and
WHEREAS, the loan to the City shall be made
pursuant to a Loan Agreement, including certain terms and
conditions, between the City and the Illinois Environmental
Protection Agency;
NOW THEREFORE Be It Ordained by the City Council
of the City of McHenry, McHenry County, Illinois, as
f ollows :
SECTION 1. INCORPORATION OF PREAMBLES
The Corporate Authorities hereby find that the
recitals contained in the preambles to this ordinance are
true and correct and do incorporate them into this ordinance
by this reference.
SECTION 2. DETERMINATION TO BORROW FUNDS
It is necessary and in the best interests of the
City to construct the Project for the public health, safety
and welfare, in accordance with the plans and
specifications, as described, that the System continue Ito be
operated in accordance with the provisions of the Act, and
that for the purpose of constructing the Project, it is
hereby authorized that funds be borrowed by the City under
the authority of the Act in an aggregate principal amount
not to exceed $5,050,000.00.
SECTION 3. PUBLICATION
This Ordinance, together with a notice in the
statutory form, shall be published once within ten days
after passage hereof by the Corporate Authorities in the
Northwest Herald, being a newspaper published and of general
circulation in the City, and if no petition, signed by
electors numbering fifteen percent (15%) of the number of
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electors voting for the Mayor at the last preceding general
municipal election at which a Mayor for the City was elected
(i.e., 310 electors) and asking that the question of
improving the System, as provided in this Ordinance, and the
entering into the Loan Agreement therefor, be submitted to
the electors of the City, is filed with the City Clerk
within 21 days after the date of the publication of this
Ordinance and said notice, then this Ordinance shall be in
full force and effect. A petition form shall be provided by
the City Clerk to any individual requesting one.
SECTION 4. ADDITIONAL ORDINANCES
If no petition meeting the requirements of the Act
and other applicable law is filed during the petition period
hereinabove referred to, then the Corporate Authorities may
adopt additional ordinances or proceedings supplementing or
amending this Ordinance providing for the entering into the
Loan Agreement with the Illinois Environmental Protection
Agency, prescribing all the details of said Loan Agreement,
and providing for the collection, segregation and
distribution of the revenues of the System, so long as the
maximum amount of said Loan Agreement as set forth in this
Ordinance is not exceeded and there is no material change in
the Project or purposes described herein. Such additional
Ordinances or proceedings shall in all instances become
effective in accordance with the Act and other applicable
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law. This Ordinance, together with such additional
ordinances or proceedings, shall constitute complete
authority for the entering into of said Loan Agreement under
applicable law.
However, notwithstanding the above, the City may
not adopt additional ordinances or amendments which provide
for any substantive or material change in the scope and
intent of this Ordinance, including but not limited to
interest rate, preference or priority of any other ordinance
with this Ordinance, parity of any other ordinance with this
Ordinance, or otherwise alter or impair the obligation of
the City to pay the principal and interest due to the Dater
Pollution Control Revolving Fund without the written consent
of the Illinois Environmental Protection Agency.
SECTION 5. LOAN NOT INDEBTEDNESS OF CITY
Repayment of the loan to the Illinois
Environmental Protection Agency by the City pursuant to this
Ordinance is to be solely from the revenue derived from the
revenues of the City's combined waterworks and sewerage
system or an increased user charge and the loan does not
constitute an indebtedness of the City within the meaning of
any constitutional or statutory limitation.
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SECTION 6. ACCEPTANCE OF LOAN AGREEMENT
The Mayor and the City Council hereby authorize
acceptance of the offer of a loan through the Water
Pollution Control Revolving Fund, including all terms and
conditions of the Loan Agreement as well as all special
conditions contained therein and made a part thereof by
reference. The Mayor and City Council further agree that
the loan funds awarded shall be used solely for the purposes
of the project as approved by the Illinois Environmental
Protection Agency in accordance with the terms and
conditions of the Loan Agreement.
SECTION 7. AUTHORIZATION OF MAYOR TO EXECUTE
THE LOAN AGREEMENT
The Mayor is hereby authorized and directed to
execute the Loan Agreement with the Illinois Environmental
Protection Agency.
SECTION B. SEVERABILITY
If any section, paragraph, clause or provision of
this ordinance shall be held invalid, the invalidity of such
section, paragraph, clause or provision shall not affect any
of the other provisions of this ordinance.
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SECTION 9. REPEALER
All ordinances, resolutions or orders, or parts
thereof, in conflict with the provisions of this ordinance
are to the extent of such conflict hereby repealed.
Passed this 22nd day of January, 1990.
Ayes: Bolger, Lieder, McClatchey, Patterson, Serritella, Smith, Teta
Nays: None
Abstain: None
Absent: Donahue
Approved this 22nd day of January, 1990.
'Ma or
Attest: (p� .
City Clerk
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