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20090-295111/2009A ORDINANCE NO. 2009- 2 9 AN ORDINANCE AUTHORIZING THE VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS, TO BORROW FUNDS FROM THE WATER POLLUTION CONTROL LOAN PROGRAM WHEREAS, the Village of Buffalo Grove, Cook County, Illinois, operates its sewerage system ( "the System ") and in accordance with the provisions of the Home Rule Article of the Illinois Constitution and the Local Government Debt Reform Act, 30 ILCS 350/1 et seq. (collectively "the Act"); and WHEREAS, the PRESIDENT and VILLAGE BOARD OF TRUSTEES of the Village of Buffalo Grove ("the Corporate Authorities ") have determined that it is advisable, necessary, and in the best interest of the public health, safety, and welfare to improve the System, including the following: The upgrading and rehabilitation of the Old Treatment Plant and Cambridge on the Lake Sanitary Lift Stations, including the addition of emergency diesel - generators, emergency bypass provisions, upgraded flow metering, relocation of controls to grade with backup float systems, addition of MAS telemetry systems, cleaning and painting of dry well interiors, etc. together with any land or rights in land and all electrical, mechanical or other services necessary, useful or advisable to the construction and installation ( "the Project "), all in accordance with the plans and specifications prepared by the consulting engineers Burns & McDonnell Engineering Company, Inc., which Project has a useful life of 40 years; and WHEREAS, the estimated cost of construction and installation of the Project, including engineering, legal, financial and other related expenses is $498,000, and there are insufficient funds on hand and lawfully available to pay these costs; and WHEREAS, the loan shall bear an interest rate as defined by 35 Ill. Adm. Code 365, which does not exceed the maximum rate authorized by the Bond Authorization Act, as amended, 30 IL,CS 305/0.01 et seq., at the time of the issuance of the loan; and 1 WHEREAS, thWincipal and interest payment shall be pible semi - annually, and the loan shall mature in 20 years, which is within the period of useful life of the Project; and WHEREAS, the costs are expected to be paid for with a loan to the Village of Buffalo Grove from the Water Pollution Control Loan Program through the Illinois Environmental Protection Agency, the loan to be repaid from the Waterworks and Sewerage Fund and the loan is authorized to be accepted at this time pursuant to the Act; and WHEREAS, in accordance with the provisions of the Act, the Village of Buffalo Grove is authorized to borrow funds from the Water Pollution Control Loan Program in the aggregate principal amount of $498,000 to provide funds to pay the costs of the Project; and WHEREAS, the loan to the Village of Buffalo Grove shall be made pursuant to a Loan Agreement, including certain terms and conditions between the Village of Buffalo Grove and the Illinois Environmental Protection Agency; NOW THEREFORE, BE IT ORDAINED BY THE CORPORATE AUTHORITIES OF THE VILLAGE OF BUFFALO GROVE, COOK COUNTY, ILLINOIS, as follows: SECTION 1. INCORPORATION OF PREAMBLES The Corporate Authorities hereby find that the recitals contained in the preambles are true and correct, and incorporate them into this Ordinance by this reference. SECTION 2. DETERMINATION TO BORROW FUNDS It is necessary and in the best interests of the Village of Buffalo Grove to construct the Project for the public health, safety, and welfare, in accordance with the plans and specifications, as described; that the System continues to be operated in accordance with the provisions of the Illinois Environmental Protection Act, 415 ILCS 511 et seq.; and that for the purpose of constructing the Project, it is hereby authorized that funds be borrowed by the Village of Buffalo Grove in the aggregate principal amount (which can include construction period interest financed over the term of the loan) not to exceed $498,000. SECTION 3. ADDITIONAL ORDINANCES The Corporate Authorities may adopt additional ordinances or proceedings supplementing or amending this Ordinance, providing for entering into the Loan Agreement with the Illinois Environmental Protection Agency, prescribing all the details of the Loan Agreement, and providing for the collection, segregation and distribution of the Waterworks and Sewerage Fund, so long as the maximum amount of the Loan Agreement as set forth in this Ordinance is not exceeded and there is 2 no material change in4k project or purposes described hereeAny additional ordinances or proceedings shall in all instances become effective in accordance with the Act or other applicable laws. This Ordinance, together with such additional ordinances or proceedings, shall constitute complete authority for entering into the Loan Agreement under applicable law. However, notwithstanding the above, the Village of Buffalo Grove 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 Village of Buffalo Grove to pay the principal and interest due to the Water Pollution Control Loan Program without the written consent of the Illinois Environmental Protection Agency. SECTION 4. LOAN NOT INDEBTEDNESS OF VILLAGE OF BUFFALO GROVE Repayment of the loan to the Illinois Environmental Protection Agency by the Village of Buffalo Grove pursuant to this Ordinance is to be solely from the revenue derived from the Waterworks and Sewerage Fund and the loan does not constitute an indebtedness of the Village of Buffalo Grove within the meaning of any constitutional or statutory limitation. SECTION 5. APPLICATION FOR LOAN The Village Manager of Buffalo Grove is hereby authorized to make application to the Illinois Environmental Protection Agency for a loan through the Water Pollution Control Loan Program, in accordance with the loan requirements set out in 35 Ill. Adm. Code 365. SECTION 6. ACCEPTANCE OF LOAN AGREEMENT The Corporate Authorities hereby authorize acceptance of the offer of a loan through the Water Pollution Control Loan Program, 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 Corporate Authorities 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 VILLAGE MANAGER TO EXECUTE LOAN AGREEMENT The Village Manager is hereby authorized and directed to execute the Loan Agreement with the Illinois Environmental Protection Agency. The Corporate Authorities may authorize by resolution a person other than the Village Manager for the sole purpose of authorizing or executing any documents associated with payment requests or reimbursements from the Illinois Environmental Protection Agency in connection with this loan. 3 SECTION 8. ARABILITY 0 If any section, paragraph, clause or provision of this Ordinance is held invalid, the invalidity of such section, paragraph, clause or provision shall not affect any of the other provisions of this Ordinance. SECTION 9. REPEALER All ordinances, resolutions, orders, or parts thereof, which conflict with the provisions of this Ordinance, to the extent of such conflict, are hereby repealed. AYES: 5 - Braiman, Glover Trilling, Stone Sussman NAYS: 0 - None ABSENT: 1 - Berman PASSED: May 18 2009. APPROVED: May 18 , 2009. ATTEST: Villa e Clerk 4 APPROVED: Village President If STATE OF ILLINOIS) ss. COUNTY OF COOK ) CERTIFICATE I, Janet M. Sirabian, certify that I am the duly elected and acting Village Clerk of the Village of Buffalo Grove, Cook and Lake Counties, Illinois. I further certify that on, May 18, 2009 the Corporate Authorities of the Village passed and approved Ordinance No. 2009 -29, AN ORDINANCE AUTHORIZING THE VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, TO BORROW FUNDS FROM THE WATER POLLUTION CONTROL LOAN PROGRAM provided by its terms that it should be published in pamphlet form. The pamphlet form of Ordinance No. 2009 -29, including the Ordinance and a sheet thereof, was prepared, and a copy of such Ordinance was posted in and at the Village Hall, commencing on May 19, 2009 and continuing for at least ten days thereafter. Copies of such Ordinance were also available for public inspection upon request in the Office of Village Clerk. Dated at Buffalo Grove, Illinois, this 19th day of May, 2009. Vill ` Clerk By r A 5/11/2009A ORDINANCE N0.2009- 29 AN ORDINANCE AUTHORIZING THE VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES ILLINOIS, OS FROM THE WATER POLLUTION C ONTROL LOAN PR WHEREAS, the Village of Buffalo Grove, Cook County, Illinois, operates its sewerage system ("the System") and in accordance with the provisions of the Home Rule Article of the Illinois Constitution and the Local Government Debt Reform Act, 30 ILCS 350/1 et seq. (collectively "the Act"); and WHEREAS, the PRESIDENT and VILLAGE BOARD OF TRUSTEES of the Village of Buffalo Grove ("the Corporate Authorities ") have determined that it is advisable, necessary, and in the best interest of the public health, safety, and welfare to improve the System, including the following: The upgrading and rehabilitation of the Old Treatment Plant and Cambridge on the Lake Sanitary Lift Stations, including the addition of emergency diesel - generators, emergency bypass provisions, upgraded flow metering, relocation of controls to grade with backup float systems, addition of MAS telemetry systems, cleaning and painting of dry well interiors, etc. together with any land or rights in land and all electrical, mechanical or other services necessary, useful or advisable to the construction and installation ("the Project7% all in accordance with the plans and specifications prepared by the consulting engineers Burns & McDonnell Engineering Company, Inc., which Project has a useful life of 40 years; and WHEREAS, the estimated cost of construction and installation of the Project, including engineering, legal, financial and other related expenses is $498,000, and there are insufficient funds on hand and lawfully available to pay these costs; and WHEREAS, the loan shall bear an interest rate as defined by 35 Ill. Adm. Code 365, which does not exceed the maximum rate authorized by the Bond Authorization Act, as amended, 30 ILCS 305/0.01 et seq., at the time of the issuance of the loan; and 1 WHEREAS, the principal and interest payment shall be payable semi - annually, and the loan shall mature in 20 years, which is within the period of useful life of the Project; and WHEREAS, the costs are expected to be paid for with a loan to the Village of Buffalo Grove from the Water Pollution Control Loan Program through the Illinois Environmental Protection Agency, the loan to be repaid from the Waterworks and Sewerage Fund and the loan is authorized to be accepted at this time pursuant to the Act; and WHEREAS, in accordance with the provisions of the Act, the Village of Buffalo Grove is authorized to borrow funds from the Water Pollution Control Loan Program in the aggregate Principal amount of $498,000 to provide funds to pay the costs of the Project; and WHEREAS, the loan to the Village of Buffalo Grove shall be made pursuant to a Loan Agreement, including certain terms and conditions between the Village of Buffalo Grove and the Illinois Environmental Protection Agency; NOW THEREFORE, BE IT ORDAINED BY THE CORPORATE AUTHORITIES OF THE VILLAGE OF BUFFALO GROVE, COOK COUNTY, ILLINOIS, as follows: SECTION 1. INCORPORATION OF PREAMBLES The Corporate Authorities hereby find that the recitals contained in the preambles are true and correct, and incorporate them into this Ordinance by this reference. SECTION 2. DETERMINATION TO BORROW FUNDS It is necessary and in the best interests of the Village of Buffalo Grove to construct the Project for the public health, safety, and welfare, in accordance with the plans and specifications, as described; that the System continues to be operated in accordance with the provisions of the Illinois Environmental Protection Act, 415 ILCS 511 et seq.; and that for the purpose of constructing the Project, it is hereby authorized that funds be borrowed by the Village of Buffalo Grove in the aggregate principal amount (which can include construction period interest financed over the term of the loan) not to exceed $498,000. SECTION 3. ADDITIONAL ORDINANCES The Corporate Authorities may adopt additional ordinances or proceedings supplementing or amending this Ordinance, providing for entering into the Loan Agreement with the Illinois Environmental Protection Agency, prescribing all the details of the Loan Agreement, and providing for the collection, segregation and distribution of the Waterworks and Sewerage Fund, so long as the maximum amount of the Loan Agreement as set forth in this Ordinance is not exceeded and there is 00 r no material change in the project or purposes described herein. Any additional ordinances or t proceedings shall in all instances become effective in accordance with the Act or other applicable laws. This Ordinance, together with such additional ordinances or proceedings, shall constitute complete authority for entering into the Loan Agreement under applicable law. However, notwithstanding the above, the Village of Buffalo Grove 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 Village of Buffalo Grove to pay the principal and interest due to the Water Pollution Control Loan Program without the written consent of the Illinois Environmental Protection Agency. SECTION 4. LOAN NOT INDEBTEDNESS OF VILLAGE OF BUFFALO GROVE Repayment of the loan to the Illinois Environmental Protection Agency by the Village of Buffalo Grove pursuant to this Ordinance is to be solely from the revenue derived from the Waterworks and Sewerage Fund and the loan does not constitute an indebtedness of the Village of Buffalo Grove within the meaning of any constitutional or statutory limitation. SECTION 5. APPLICATION FOR LOAN The Village Manager of Buffalo Grove is hereby authorized to make application to the Illinois Environmental Protection Agency for a loan through the Water Pollution Control Loan Program, in accordance with the loan requirements set out in 35 Ill. Adm. Code 365. SECTION 6. ACCEPTANCE OF LOAN AGREEMENT The Corporate Authorities hereby authorize acceptance of the offer of a loan through the Water Pollution Control Loan Program, 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 Corporate Authorities 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 VILLAGE MANAGER TO EXECUTE LOAN AGREEMENT The Village Manager is hereby authorized and directed to execute the Loan Agreement with the Illinois Environmental Protection Agency. The Corporate Authorities may authorize by resolution a person other than the Village Manager for the sole purpose of authorizing or executing any documents associated with payment requests or reimbursements from the Illinois Environmental Protection Agency in connection with this loan. 9t t SECTION 8. SEVERABILITy If an section, ,paragraph, clause or provision of this Ordinance is held invalid, the invalidity of such section, paragraph, clause or provision shall not affect any of the other provisions of this Ordinance. SECTION 9. REPEALER All ordinances, resolutions, orders, or parts thereof, which conflict with the provisions of this Ordinance, to the extent of such conflict, are hereby repealed. AYES: 5 - Braiman, Glover, Trilling, Stone Sussman NAYS: 0 - None ABSENT: 1 - Berman PASSED: May 18 2009. APPROVED: May 18 2009. ATTEST: Villa e Clerk 9 APPROVED: Village President