HomeMy WebLinkAboutResolutions - R-08-003 - 02/01/2008 - PROVIDE FOR RETIREMENT BONDS MFT SERIES 2000aIllinois Department of Transportation Obligation Retirement Resolution
Resolution No R- 08-003
A resolution providing for the retirement
of certain municipal indebtedness by the use of
motor fuel tax funds
WHEREAS, the City of McHenry has outstanding indebtedness described as follows: 3 500,000 General
Obligation Bonds (Motor Fuel Tax Alternative Revenue Source) Series 2000A Sec 00- Indebtedness in the amount of
$463, 050
and;
WHEREAS, in the opinion of this body, the indebtedness described in the preceding paragraph may be retired with funds
allotted to the municipality under the Motor Fuel Tax Law; and
WHEREAS, it appears that sufficient motor fuel tax funds are or will be available when the above indebtedness is
due; and
WHEREAS, the McHenry City Council has, by resolution adopted, directed the McHenry City Clerk to cancel the
2007 tax levy for taxes collectible in 2008 which would have produced funds to pay this indebtedness. (Not applicable to
special assessment projects.)
NOW, THEREFORE, BE IT RESOLVED, that there is hereby appropriated the sum of Four Hundred Sixty Three
thousand, fifty dollars ($463,050) from funds allotted to the City of McHenry under the Motor Fuel Tax Law for the
payment of the above -described indebtedness; and
BE IT FURTHER RESOLVED, that the City Clerk shall immediately transmit three certified copies of this resolution
to the Regional Engineer, Illinois Department of Transportation in Schaumburg, Illinois
I, Janice C. Jones, City Clerk in and for the City of McHenry, do hereby certify for foregoing to be a true, perfect and
complete copy of a resolution adopted by -the McHenry City Council at a meeting held on _, 200_.
IN TESTIMONY WHEREOF, I have hereunto set my hand and seal this day of , 200_
Signed
(SEAL)
McHenry City Clerk