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1993-090ORDINANCE NO. 93 -90 AN ORDINANCE AMENDING THE INDENTURE OF TRUST RELATING TO COUNTY LINE PARTNERS PROJECT AND MAKING APPOINTMENTS IN REGARD THERETO. WHEREAS, the Village of Buffalo Grove, Illinois (the "Village ") on December 17, 1984 adopted a bond ordinance authorizing the issuance of its $6,000,000 Economic Development Revenue Bonds (County Line Partners Project) (the "Bonds "); and WHEREAS, the Village has approved Four Amendments which each have provided for early payment of principal on the. Bonds; and WHEREAS, the Bonds will be remarketed on December 1, 1993 and County Line Partners (the "Borrower ") has requested the Village to amend certain provisions of the original Indenture of Trust (the "Indenture ") dated as of December 1, 1984 between the Village and American National Bank and Trust Company of Chicago, as trustee (the "Trustee ") , in order to clarify said provisions and provide for early payment of principal on the Bonds; and WHEREAS, it is necessary and proper for the interests and convenience of the Village and its inhabitants to authorize such amendments; and WHEREAS, the Village has caused to be prepared and pre- sented to this meeting the First Supplemental Indenture of Trust dated as of November 1, 1993 (the "First Supplemental Indenture ") between the Village and the Trustee which the Village proposes to enter into; and WHEREAS, the Borrower has requested the Village appoint William Blair & Company as Indexing Agent and Remarketing Agent in regard to the Bonds. • 0 NOW, THEREFORE BE IT ORDAINED BY THE VILLAGE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF BUFFALO GROVE, COUNTIES OF COOK AND LAKE, STATE OF ILLINOIS, AS FOLLOWS: Section 1. That the form, terms and provisions of the proposed First Supplemental Indenture be, and it hereby is, in all respects approved, and that the Village President and the Village Clerk be, and they are hereby authorized, empowered and directed to execute and deliver such instrument in the name and the behalf of the Village and that the First Supplemental Indenture is to be in substantially the form thereof submitted to this meeting and hereby approved, with such changes therein as shall be approved by the officials of the Village executing the same, their execution thereof to constitute conclusive evidence of their approval of any and all changes or revisions therein and from and after the execution and delivery of such instrument, the officials, agents and employees of the Village are hereby authorized, empowered and directed to do all such acts and things and to execute all such documents as may be necessary to carry out and comply with the provisions of such instrument as executed. Section 2. That from and after the execution and delivery of said document, the proper officials, agents and employees of the Village are hereby authorized, empowered and directed to do all such acts and things and to execute all such instruments as may be necessary to carry out and comply with the provisions of said document as executed and to further the purposes, and intent of this Ordinance, including the preamble hereto. -2- • Section 3. That William Blair & Company is hereby appointed as Indexing Agent pursuant to Section 925 of the Indenture and as Remarketing Agent pursuant to Section 916 of the Indenture. Section 4. That the provisions of this Ordinance are hereby declared to be separable, and if any section, phrase or provisions shall, for any reason, be declared to be invalid, such declaration shall not affect the validity of the remainder of the sections, phrases or provisions. Section 5. That all ordinances, resolutions, orders or parts thereof in conflict with the provisions of this Ordinance are, to the extent of such conflict, hereby superseded. Section 6. This Ordinance shall be in full force and effect from and after its passage and approval, in accordance with law. PASSED this 15th day of November, 1993. Ayes: 5 - Marienthal, Reid Rubin Braiman, Hendricks Nays: 0 - None ABSENT- 1 - Kahn APPROVED this 15th day of Novembei ATTEST: �nn p' 21Ab-YjjAa' Vill e Clerk -3- -t I i - = j I I i VILLAGE OF BUFFALO GROVE x ORDINANCE NO. �� U I ADOPTED BY THE PRESIDENT i AND BOARD OF TRUSTEES OF THE VILLAGE; =f - = OF BUFFALO GROVE_ / THIS DAY OFU`t/ , 19 I - Published in pamphlet form by authority of the; President and Board of Trustees of the Village ` of Buffalo Grove, Cook & Lake Counties, Illinois, this day of ZZ 1 , Village Clerk - Bye eputy Village Clerk "E ORDINANCE NO. 93 -90 AN ORDINANCE AMENDING THE INDENTURE OF TRUST RELATING TO COUNTY LINE PARTNERS PROJECT AND MAKING APPOINTMENTS IN REGARD THERETO. WHEREAS, the Village of Buffalo Grove, Illinois (the "Village ") on December 17, 1984 adopted a bond ordinance authorizing the issuance of its $6,000,000 Economic Development Revenue Bonds (County Line Partners Project) (the "Bonds "); and WHEREAS, the Village has approved Four Amendments which each have provided for early payment of principal on the Bonds; and WHEREAS, the Bonds will be remarketed on December 1, 1993 and County Line Partners ( the "Borrower") has requested the. Village to amend certain provisions of the original Indenture of Trust (the "Indenture ") dated as of December 1, 1984 between the Village and American National Bank and Trust Company of Chicago, as trustee (the "Trustee "), in order to clarify said provisions and provide for early payment of principal on the Bonds; and WHEREAS, it is necessary and proper for the interests and convenience of the Village and its inhabitants to authorize such amendments; and WHEREAS, the Village has caused to be prepared and pre- sented to this meeting the First Supplemental Indenture of Trust dated as of November 1, 1993 (the "First Supplemental Indenture ") between the Village and the Trustee which the Village proposes to enter into; and WHEREAS, the Borrower has requested the Village appoint William Blair & Company as Indexing Agent and Remarketing Agent in regard to the Bonds. NOW, THEREFORE BE IT ORDAINED BY THE VILLAGE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF BUFFALO GROVE, COUNTIES OF COOK AND LAKE, STATE OF ILLINOIS, AS FOLLOWS: Section 1. That the form, terms and provisions of the proposed First Supplemental Indenture be, and it hereby is, in all respects approved, and that the Village President and the Village Clerk be, and they are hereby authorized, empowered and directed to execute and deliver such instrument in the name and the behalf of the Village and that the First Supplemental Indenture is to be in substantially the form thereof submitted to this meeting and hereby approved, with such changes therein as shall be approved by the officials of the Village executing the same, their execution thereof to constitute conclusive evidence of their approval of any and all changes or revisions therein and from and after the execution and delivery of such instrument, the officials, agents and employees of the Village are hereby authorized, empowered and directed to do all such acts and things and to execute all such documents as may be necessary to carry out and comply with the provisions of such instrument as executed. Section 2. That from and after the execution and delivery of said document, the proper officials, agents and employees of the Village are hereby authorized, empowered and directed to do all such acts and things and to execute all such instruments as may be necessary to carry out and comply with the provisions of said document as executed and to further the purposes, and intent of this Ordinance, including the preamble hereto. -2- Section 3. That William Blair & Company is hereby appointed as Indexing Agent pursuant to Section 925 of the Indenture and as Remarketing Agent pursuant to Section 916 of the Indenture. Section 4. That the provisions of this Ordinance are hereby declared to be separable, and if any section, phrase or provisions shall, for any reason, be declared to be invalid, such declaration shall not affect the validity of the remainder of the sections, phrases or provisions. Section 5. That all ordinances, resolutions, orders or parts thereof in conflict with the provisions of this Ordinance ----- - - - - -- - are, to the extent of such conflict, hereby superseded. Section 6. This Ordinance shall be in full force and effect from and after its passage and approval, in accordance with law. PASSED this 15th day of November, 1993. Ayes: 5 - Marienthal, Reid Rubin Braiman, Hendrirkc Nays: 0 None ABSENT• 1 - Kahn - APPROVED this 15th day of Novembei ATTEST: Vill"ate Clerk -3-