1985-08-05 - Resolution 1985-39 - AUTHORIZING THE EXECUTION OF A 3RD AMENDMENT TO MOA BTWN VBG, IL AND DELICE DE FRANCE, INC. REGARDING THE ISSUANCE OF INDUSTRIAL DEVELOPMENT REVENUE BONDSRXSOLUTTON NO. 85- 39
A RESOLUTION AUTHORIZING THE EXECUTION OF A
THIRD AMENDMEI{T TO ME,IORANDUM OF AGREEMENT
BETWEEN TIIE VIILAGE OF BIIFFALO GROVE, ILLINOIS
AND DELICE DE FRANCE, INC., REGARDING TITE
ISSUANCE OF INDUSTRIAL DEVELOPMENT REVENI'E
BOIIDS .
WI{EREAS, the President and Board of Trustees of the Village of
Buffalo Grove, Illinols (the "Issuer") did, on February 19, 1985,
adopt ResoLution No. 85-10, authorlzlng the Presldent and the Issuer
to enter into a Memorandum of Agreement (the "Memorandum of Agreeurent")
wlth Delice De France, Inc,, an Illinois corporatlon (the "Company")
relating to the issuance by the Issuer of its revenue bonds (the "Bondstt)
in an aggregate amount not to exceed $2,385,000 to assist the Company in
the financing of the acquisition of a certain parcel of land in Buffalo
Grove and the construction thereon of a building and equipment for a
bakery products production and varehouse and office facllity; and
WI{EREAS, the Company has proceeded to plan for such acquisltion
and constuctlon; and
I,IHEREAS, the Memordandum of Agreement provided that the Bonds must
be issued on or prior to June I, f985 (or such later date as sha1l be
mutually satisfactory to the Issuer and the Company); and
I^II{EREAS, the President and Board o
on July 1, 1985, adopt Resolution No. 8
of the Issuer to execute and the Vil1ag
Issuer to the Second Amendment to Memor
sald amendment extending the date of c1
rustees of the Issuer did,
4, authorizing the Presldent
lerk to affix the seal of the
um of Agreement with the Company,
ng to August 15, 1985; and
Trustees
fT
5-3
eC
and
osi
WIiEREAS, the Company advises that it will be unable to arrange for
the issue of the Bonds on or prior to August 15, 1985; and
I,IHEREAS, the Issuer is willing to extend said date to September 17' 1985;
NOI.I, TEEREFORE, Be it Resolved by the President and Board of
of the Village of Buffalo Grove, Illinois, as follows:
1. That the President of the Issuer is hereby authorized to execute
and the Village Clerk is authorized to atEest and to affix the seal of the
Issuer to a Thlrd Amendsent of Agreement wlth the Conpany in substantially
the form of such agreement as was Presented to this meeting or with such
changes therein as shall be approved by the Offieers executing the same'
2. That the Resolutlon sha1l be ln ful1 force and effect from and
after its passage and approval as provided by law,
VILLAGE OF BIJI'FALO GROVE,
ILLINOIS
esident
(SEAL)
ATTEST:
A
Vl1Iage Clerk em
AYES :
4 - l.larienthal, Glover, Reld, Kowalski
NAYES: 0 - None
2 - 0rRei11y, Shields
ASSENT OR NOT VOTING:
II{IRD AME}IDMENT OF MEMORDANDW OF AGREM{ENT
IHIS THIRD AMENDMEM TO MruORANDIJU OF AGREEMENT is between the VILLAGE
OF B1IFEAIO CROVE, ILLINOIS a nuniclpality duly organlzed and valldly
existl"ng under the lalrs and Constitution of the State of ll-linois (the
"Issuer"), and DELICE DE FRANCE, INC., a corporation duly organlzed and
validly existlng under the laws of the State of I1llnols (the "Company").
1. Prellmina Statement.The Issuer and the Company have entered
into, executed and delivered that certain Memorandum of AgreenenE dated
as of !'ebruary 19, 1985 (the "Memorandum of Agreementrr) relating to the
lssuance by the Issuer of lts revenue bonds (the "Bonds") to flnance the
acqulsition and constructlon of a bakery products production and warehouse
and office facility in Buffalo Grove, Illinols. The Issuer ls willing to
extend the date by which the Bonds must be issued. The Issuer previously
amended the Memorandum of Agreement on July 1, 1985, said amendment extended
the date in Sectlon 4(a) of the Memorandum of Agreement to August 15, 1985.
2. Amendment. Section 4(a) of the Memorandum of Agreement ls hereby
amended by changing the date "June l, 1985" to rrSepternber 17, 1985."
In all other respects, the Memorandum of Agreement shall remaln in
full force and effect.
IN WITNESS WIIEREOF the parties hereto have entered into this Agreement
by thelr offlcers thereunto duly authorlzed as of the 5th of
1985.
VILI"AGE OF BIITFALO GROVE
ILLINOIS
August
B
res ident
(SEAL)
ATTEST :
Village Clerk ro Tem
DILICE DE FRANCE, INC.
'Pres ents
(SEAL)
ATTEST:
I Se cretarY
-2-
IIINUTES of a regular public n0eeting of
Ehe President and Board of Trustees of
the Village of Buffalo crove, Illinols,
held at the Village Hall at 7:30 o'clock
P.M. on the 5th day of August , 1985.
The President called the meeting to order and dlrected the
Vl11age Clerk to call the roll-.
Upon the roll belng cal1ed, Verna L. Clayton, the Presldent,
and the followLng Trustees answered present3
Uarietrthal, Glover, Reld, Kowalski
The followlng Trustees were absent:
orReilly, shields
Trustee
resolution:
(0ther Business)
Marienthal presented the folJ-owing
Trustee Marienthal Eoved and Trustee Glover
seconded the Eotlon that sald resolution as preaented be adopted.
After a fulI discussion thereof, the Presldent dlrected that the
ro11 be called for a vote upon the motlon to adopt the resolutlon as
Presented.
Upon the ro11 beiog called, the followlng Trustees voted
AYE: I'ta1lentha1, Glover, Reld, Kowalskl
NAY: None
Whereupon the Presldent declared the motlon carried and the
resolutlon adopted, the henceforth did approve and sign Ehe same 1n
open meetlng and did dlrect the Clerk to record the same 1n ful1 in
the records of the President and Board of Trustees of the Vlllage of
Buffalo crove, Illlnoi.s.
Other business not pertlnent to the adoption of sald resolutlon
was duLy transacted at said meeting.
Upon ootion duly made and seconded, the neetlng was adjourned.
.//
'-
0-*2fu J4-,,^-2&,
Village Clerk ?ro Teur
(SEAL)
ABSENT OR NOT VOTING: OrRellly, Shields
STATE OF ILI,INOIS
SS
couNrY oF cooK
I, Janet M. Slrablan, do hereby certify that I an the duly qualified and
actlng V1llage Clerk of the Vtllage of Buffalo Grove, Illinois and as suchoffleer I am the keeper of the records and files of the Presldent and Board
of Trustees of sald V111age.
I do further certlfy that the foregoing constitutes a fu1l, true and
compLete tanscrlpt of the mLnutes of the 1egal1y convened meeting of sald
Village of Buffalo crove, Illinols held on the 5th d ay of August
1985, insofar as same relates to the adoption of a
RESOLUTION AUTHORIZING THN E)GCIITION AND
DELIWRY OI' A TIIIRD A}IEND}IENT MB'IORANDI,M OF
AGREEUENT WITH DELICE DE FRANCE, INC.
REGARDI}IG TIIE ISSUANCE OF INDUSTRIAI
DEVEI,OPMENT REVENIJE BONDS,
a true, correct and complete copy of which resolution as adopted at said
meetlng appears in the foregolng transcript of the mlnutes of said meetlng.
I do further certify thaE the dellberations of the President and Board
of Trustees on the option of sald resolut.ion were taken openly; that the vote
on the adoptlon of said resolution was taken openly; that sald meetlng was
held at a specifled time and place convenient to the public; that notice of
said meeting was duly given to all newspapers, radio or televlsion statlons
and other news media requesting such notice; and that said meeting was called
and held in strict accordance with the provislons of "AN ACT in relation to
meetlngs,'r approved July 11, 1957, as amended, and that sald President and
Board of Trustees have complied lrith a1l of the appllcable provisions of said
Act and its procedural rules in the adoption of said resolution.
IN WITNESS WHSREOI, I have hereunto afflxed my official signature and
the seal of said Vi11age, this 5Eh day of_ trggg!!_, 1985.
Vlllage Clerk Pro Tem
)
)
)
(SEAT)