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1997-075ORDINANCE NO. 97- 75 AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE CALL AND REDEMPTION OF CERTAIN OUTSTANDING GENERAL OBLIGATION CORPORATE PURPOSE BONDS, DATED DECEMBER 15, 1989, OF THE VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS, AND FOR GIVING NOTICE OF SUCH CALL WHEREAS, pursuant to the provisions of Ordinance No. 89 -109 entitled: An Ordinance providing for the issue of $4,000,000 General Obligation Corporate Purpose Bonds, Series 1989, of the Village of Buffalo Grove, Lake and Cook Counties, Illinois, and for the levy and collection of a direct annual tax for the payment of the principal of and interest on said bonds. adopted on December 18, 1989, by the President and Board of Trustees (the "Board ") of the Village of Buffalo Grove, Cook and Lake Counties, Illinois (the "Village "), $4,000,000 General Obligation Corporate Purpose Bonds - Series 1989, dated December 15, 1989, of the Village (the "Bonds ") were issued; and WHEREAS, the Bonds maturing after December 30, 1998, in the principal amount of $3,650,000 are subject to redemption and payment prior to their maturity at the option of the Village, on December 30, 1997, and on any date thereafter at the redemption price of par plus accrued interest to the redemption date; and WHEREAS, all of the principal of and interest on the Bonds maturing on December 30, 1997 will or have been paid on the date of their maturity; and WHEREAS, the Village is in compliance with Ordinance No. 89 -109; and WHEREAS, it is in the best interest of the Village that the Village exercise its option at this time to redeem and pay bonds maturing on December 30, 1998 through December 30, 2010, inclusive, as described on the attached Exhibit "A" prior to their maturities at a price of par and accrued interest. NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS, as follows: SECTION 1. That the Village hereby calls for redemption on December 30, 1997 at a price of par plus accrued interest, $3,650,000 Village of Buffalo Grove General Obligation Corporate Purpose Bonds - Series 1989, dated December 15, 1989 as described on the attached Exhibit "A ". SECTION 2. That Notice of Redemption of the call of the Bonds set forth in Section 1 hereof be given by the Bond Registrar, Municipal Services Corporation, Countryside, Illinois, by either registered or certified mail at least thirty (30) days and not more than sixty (60) days prior to December 30, 1997, to known holders of the Bonds described in Section 1. Said Notice of Redemption shall designate the date and price of redemption of the Bonds, the place where such Bonds are to be surrendered for payment of the redemption price, and shall indicate that on the designated date of redemption the Bonds will be redeemed by payment of the principal thereof and accrued interest thereon, and that from and after the designated redemption date, interest in respect to the Bonds so called for redemption shall cease. Such Notice of Redemption shall be filed at the First National Bank of Illinois, Lansing, Illinois. Such Notice of Redemption shall be in substantially the following form: Notice of Redemption of General Obligation Corporate Purpose Bonds - Series 1989, dated December 15, 1989 of the Village of Buffalo Grove, Lake and Cook Counties, Illinois Notice is hereby given to the owners and holders of the Village of Buffalo Grove (the "Village ") General Obligation Corporate Purpose Bonds - Series 1989, dated December 15, 1989 maturing December 30, 1998 through December 30, 2010 in the principal amount of $3,650,000 (the "Bonds "), that the Village has exercised its option, as allowed by the terms of the bonds, to redeem the Bonds prior to their maturity. The Bonds will be paid on December 30, 1997, upon surrender of the Bonds with all coupons attached representing interest becoming due on December 30, 1997, and accompanied by all subsequent coupons, and such payment will be at a price of par and accrued interest on December 30, 1997. The owners and holders of the Bonds are directed to present the same for payment at the First National Bank of Illinois, Lansing, Illinois. Notice is further given that from and after December 30, 1997, interest in respect of the Bonds called for redemption shall cease. By order of the President and Board of Trustees of the Village of Buffalo Grove, Cook and Lake Counties, Illinois Dated this 20th day of October , 1997. V' lage Treasurer, Village of Buffalo Grove ok and Lake Counties, Illinois SECTION 4. That a full, true and complete copy of this ordinance shall be printed or published promptly after passage in pamphlet form by authority of the President and Board of Trustees and shall be in full force and effect immediately and forthwith upon such publication. SECTION 5. That all ordinances, resolutions or orders, or parts thereof, in conflict with the provisions of this ordinance are to the extent of such conflict with the provisions of this ordinance be in full force and effect forthwith upon its adoption and approval. SECTION 6. That the Village Treasurer shall transfer funds as authorized by Ordinance No. 89 -109 to the First National Bank of Illinois in the amount and at such times as required for the redemption of the Bonds. The transfer shall be accompanied by instructions to provide for the orderly administration of the redemption. ADOPTED: October 20 , 1997. APPROVED: October 20 , 1997• PUBLISHED: October 21 1997. AYES: 6 - Marienthal, Reid, Rubin, Braiman, Henricks. Glover NAYES: 0 - none ABSENT: _ ATTEST: " 1 I VillaW Clerk VILLAGE OF BUFFLO GROVE EXHIBIT "N' CORPORATE PURPOSE GENERAL OBLIGATION BONDS - SERIES 1989 BOND CALL AND REDEMPTION SCHEDULE DECEMBER 30, 1997 MATURITY DATE PRINCIPAL 12/30/98 115,000 12130/99 135,000 12130/00 155,000 12/30/01 180,000 12130/02 210,000 12/30/03 240,000 12/30/04 270,000 12130/05 305,000 12130/06 340,000 12/30/07 370,000 12/30/08 405,000 12/30/09 440,000 12/30/10 485,000 TOTAL 3,650,000 STATE OF ILLINOIS ) )SS COUNTY OF COOK ) CERTIFICATE OF REDUCTION OF TAXES HERETOFORE LEVIED FOR THE PAYMENT OF BONDS TO THE COUNTY CLERKS OF THE COUNTIES OF COOK AND LAKE, ILLINOIS: We, the undersigned, being the duly qualified and acting Village President, Village Clerk and Village Treasurer, respectively, of the Village of Buffalo Grove, Lake and Cook Counties, Illinois (the "Village "), and having been directed and authorized by the President and Board of Trustees of the Village (the "Board ") to prepare and file this Certificate, do hereby certify and notify you as follows: 1. That the Village has heretofore issued its General Obligation Corporate Purpose Bonds - Series 1989, dated December 15, 1989 (the "Called and Redeemed Bonds "), and has levied taxes in amounts sufficient to pay maturing principal and interest on the Called and Redeemed Bonds. 2. That on the 26th day of December, 1989, a certified copy of the ordinance adopted by the Board authorizing the Called and Redeemed Bonds was duly files in your office as County Clerk of The County of Cook County, Illinois and as County Clerk of The County of Lake County, Illinois. 3. That the Board has adopted Ordinance No: 97- a certified copy of which is attached, which authorizes and provides for the call and redemption of certain outstanding maturities of the Called and Redeemed Bonds in the amount of $3,650,000 on December 30, 1997 maturing on December 30, 1998 through December 30, 2010. 4. That you are hereby notified and directed to make proper reduction of the taxes heretofore levied for the years 1997 (collectible in 1998) to 2009, inclusive, for the payment of the Called and Redeemed Bonds for each of the said years as follows: LEVY AMOUNT LEVIED AMOUNT TO BE ABATED REMAINDER OF TAXES YEAR IN 1989 AT THIS TIME TO BE EXTENDED 1997 $361,610.00 $361,610.00 $0 1998 374,365.00 374,365.00 0 1999 385,725.00 385,725.00 0 2000 400,650.00 400,650.00 0 2001 418,950.00 418,950.00 0 2002 435,090.00 435,090.00 0 2003 449,250.00 449,250.00 0 2004 466,160.00 466,160.00 0 2005 480,420.00 480,420.00 0 2006 487,300.00 487,300.00 0 2007 496,770.00 496,770.00 0 • • 2008 503,825.00 503,825.00 0 2009 518,465.00 518,465.00 0 IN WITNESS WHEREOF, we hereunto affix our official signatures and the seal of the Village, this 20th day of October 1997. illage ident Villkgk Clerk Y11 lage7 reasurer (SEAL) VILLAGE OF BUFFALO GROVE ORDINANCE NO. 7 �� ADOPTED BY THE PRESIDENT = AND BOARD OF TRUSTEES OF THE VILLAGE OF BUFFALO GROV' c� THIS DAY OF_261 lg/ 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 61 Village Clerk By, puty Village Clerk ORDINANCE NO. 97- 75 AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE CALL AND REDEMPTION OF CERTAIN OUTSTANDING GENERAL OBLIGATION CORPORATE PURPOSE BONDS, DATED DECEMBER 15, 1989, OF THE VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS, AND FOR GIVING NOTICE OF SUCH CALL WHEREAS, pursuant to the provisions of Ordinance No. 89 -109 entitled: An Ordinance providing for the issue of $4,000,000 General Obligation Corporate Purpose Bonds, Series 1989, of the Village of Buffalo Grove, Lake and Cook Counties, Illinois, and for the levy and collection of a direct annual tax for the payment of the principal of and interest on said bonds. adopted on December 18, 1989, by the President and Board of Trustees (the "Board ") of the Village of Buffalo Grove, Cook and Lake Counties, Illinois (the "Village "), $4,000,000 General Obligation Corporate Purpose Bonds - Series 1989, dated December 15, 1989, of the Village (the "Bonds ") were issued; and WHEREAS, the Bonds maturing after December 30, 1998, in the principal amount of $3,650,000 are subject to redemption and payment prior to their maturity at the option of the Village, on December 30, 1997, and on any date thereafter at the redemption price of par plus accrued interest to the redemption date; and WHEREAS, all of the principal of and interest on the Bonds maturing on December 30, 1997 will,or have been paid on the date of their maturity; and WHEREAS, the Village is in compliance with Ordinance No. 89 -109; and WHEREAS, it is in the best interest of the Village that the Village exercise its option at this time to redeem and pay bonds maturing on December 30, 1998 through December 30, 2010, inclusive, as described on the attached Exhibit "A" prior to their maturities at a price of par and accrued interest. NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS, as follows: SECTION 1. That the Village hereby calls for redemption on December 30, 1997 at a price of par plus accrued interest, $3,650,000 Village of Buffalo Grove General Obligation Corporate Purpose Bonds - Series 1989, dated December 15, 1989 as described on the attached Exhibit "A ". SECTION 2. That Notice of Redemption of the call of the Bonds set forth in Section 1 hereof be given by the Bond Registrar, Municipal Services Corporation, Countryside, Illinois, by either registered or certified mail at least thirty (30) days and not more than sixty (60) days prior to December 30, 1997, to known holders of the Bonds described in Section 1. Said Notice of Redemption shall designate the date and price of redemption of the Bonds, the place where such Bonds are to be surrendered for payment of the redemption price, and shall indicate that on the designated date of redemption the Bonds will be redeemed by payment of the principal thereof and accrued interest thereon, and that from and after the designated redemption date, interest in respect to the Bonds so called for redemption shall cease. Such Notice of Redemption shall be filed at the First National Bank of Illinois, Lansing, Illinois. Such Notice of Redemption shall be in substantially the following form: Notice of Redemption of General Obligation Corporate Purpose Bonds - Series 1989, dated December 15, 1989 of the Village of Buffalo Grove, Lake and Cook Counties, Illinois Notice is hereby given to the owners and holders of the Village of Buffalo Grove (the "Village ") General Obligation Corporate Purpose Bonds - Series 1989, dated December 15, 1989 maturing December 30, 1998 through December 30, 2010 in the principal amount of $3,650,000 (the "Bonds "), that the Village has exercised its option, as allowed by the terms of the bonds, to redeem the Bonds prior to their maturity. The Bonds will be paid on December 30, 1997, upon surrender of the Bonds with all coupons attached representing interest becoming due on December 30, 1997, and accompanied by all subsequent coupons, and such payment will be at a price of par and accrued interest on December 30, 1997. The owners and holders of the Bonds are directed to present the same for payment at the First National Bank of Illinois, Lansing, Illinois. Notice is further given that from and after December 30, 1997, interest in respect of the Bonds called for redemption shall cease. By order of the President and Board of Trustees of the Village of Buffalo Grove, Cook and Lake Counties, Illinois Dated this 20th day of October , 1997. V' lage Treasurer, Village of Buffalo Grove 06ok and Lake Counties, Illinois SECTION 4. That a full, true and complete copy of this ordinance shall be printed or published promptly after passage in pamphlet form by authority of the President and Board of Trustees and shall be in full force and effect immediately and forthwith upon such publication. SECTION 5. That all ordinances, resolutions or orders, or parts thereof, in conflict with the provisions of this ordinance are to the extent of such conflict with the provisions of this ordinance be in full force and effect forthwith upon its adoption and approval. SECTION 6. That the Village Treasurer shall transfer funds as authorized by Ordinance No. 89 -109 to the First National Bank of Illinois in the amount and at such times as required for the redemption of the Bonds. The transfer shall be accompanied by instructions to provide for the orderly administration of the redemption. ADOPTED: October 20 , 1997. APPROVED: October 20 , 1997. PUBLISHED: October 21 , 1997. AYES: 6 - Marienthal, Reid, Rubin, Braiman. Henricks, Glover NAYES: 0 - none ABSENT: 0 - None ATTEST: , Vill'�ige CleFk ,j Far- VILLAGE OF BUFFLO GROVE EXHIBIT "A" CORPORATE PURPOSE GENERAL OBLIGATION BONDS - SERIES 1989 BOND CALL AND REDEMPTION SCHEDULE DECEMBER 30,1997 MATURITY DATE PRINCIPAL 12130/98 115,000 12130/99 135,000 12/30/00 155,000 12130/01 180,000 12130/02 210,000 12130103 240,000 12130/04 270,000 12130/05 305,000 12130/06 340,000 12130/07 370,000 12/30/08 405,000 12/30/09 440,000 12/30/10 485,000 TOTAL 3,650,000 I 0 STATE OF ILLINOIS ) )SS COUNTY OF COOK ) CERTIFICATE OF REDUCTION OF TAXES HERETOFORE LEVIED FOR THE PAYMENT OF BONDS TO THE COUNTY CLERKS OF THE COUNTIES OF COOK AND LAKE, ILLINOIS: We, the undersigned, being the duly qualified and acting Village President, Village Clerk and Village Treasurer, respectively, of the Village of Buffalo Grove, Lake and Cook Counties, Illinois (the "Village "), and having been directed and authorized by the President and Board of Trustees of the Village (the "Board ") to prepare and file this Certificate, do hereby certify and notify you as follows: 1. That the Village has heretofore issued its General Obligation Corporate Purpose Bonds - Series 1989, dated December 15, 1989 (the "Called and Redeemed Bonds "), and has levied taxes in amounts sufficient to pay maturing principal and interest on the Called and Redeemed Bonds. 2. That on the 26th day of December, 1989, a certified copy of the ordinance adopted by the Board authorizing the Called and Redeemed Bonds was duly files in your office as County Clerk of The County of Cook County, Illinois and as County Clerk of The County of Lake County, Illinois. 3. That the Board has adopted Ordinance No. 97- a certified copy of which is attached, which authorizes and provides for the call and redemption of certain outstanding maturities of the Called and Redeemed Bonds in the amount of $3,650,000 on December 30, 1997 maturing on December 30, 1998 through December 30, 2010. 4. That you are hereby notified and directed to make proper reduction of the taxes heretofore levied for the years 1997 (collectible in 1998) to 2009, inclusive, for the payment of the Called and Redeemed Bonds for each of the said years as follows: LEVY AMOUNT LEVIED AMOUNT TO BE ABATED REMAINDER OF TAXES YEAR IN 1989 AT THIS TIME TO BE EXTENDED 1997 $361,610.00 $361,610.00 $0 1998 374,365.00 374,365.00 0 1999 385,725.00 385,725.00 0 2000 400,650.00 400,650.00 0 2001 418,950.00 418,950.00 0 2002 435,090.00 435,090.00 0 2003 449,250.00 449,250.00 0 2004 466,160.00 466,160.00 0 2005 480,420.00 480,420.00 0 2006 487,300.00 487,300.00 0 2007 496,770.00 496,770.00. 0 2008 503,825.00 - 503,825.00 0 2009 518,465.00 518,465.00 0 IN WITNESS WHEREOF, we hereunto affix our official signatures and the seal of the Village,.this 20th day of October , 1997. illage Or'esident Villkg4b Clerk V -1 age T reasurer , ( SEAL)