1985-12-10 - Resolution 1985-69 - AUTHORIZING TRUST SERVICES FOR BOND REGISTRATION AND PAYING AGENT PURPOSES BTWN VBG AND AMERICAN NATIONAL BANK AND TRUST CO. OF CHICAGO (TRAMMEL CROW SPECIAL SERVICE AREA)RESOLUTTON NO. 85- 69
!iIiEREAS, the Vl11age of Buffalo Grove will lssue on behalf of the
Trarrnel Crow Company Special Service Area Bonds ln an amount not to exceed
$13,450,000 for publlc infrastructure inprovements and additlons rrithin
Village of Buffalo Grove Special Service Areas One, Two, and Threel and
I\IHEREAS, federal lncome tax legislatlon requires that all bonds must
be lssued in registered form as to both prlnclpal and lnterest by purchaser; and
WIIEREAS, all bond paynenrs of lnterest and princlpal are more efflciently
managed through a quallfied bond paylng agent; and
I{IEREAS, 1t has been determined by all, parties to thls bond transactlon
that the Anerlcan National Bank and Trust Coopany of Chicago should act as
both bond reglstrar and paying agent for the Speclal Service A.rea bonds.
NOW, THEREFORE BE IT RESOLVED BY THE PRXSIDENT AND BOARD OF TRUSTEES OI'
TIIE VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS, thAt
SECTIoN 1. The Corporate Authoritles grant staff the authority to use
the Anerlcan National Bank and Trust Company of Chicago as both bond
reglstrar and paylng agent for the Village of BuffaLo Grove/Trafinel Cros,
Cdlpany Speclal Service Area bonds.
SECTION 2. This resolution sha11 be ln fu11 force and effect upon its
passage and approval.
AyES: 6 - Marienthal, 0rReilly, Glover, Reid, Shields, Kowalski.
NAYES: 0 - None
ABSENT: 0 - None
pASSED: December l0 1985 .
I985.
<@*L
ATTEST :
Vil1ag lerk
&"Jr,r"-
frTtige Pre;iA;n----V
A RXSOTUTION AUTITORIZING TRUST SERVICES TOR BOND F'EGISTRATION AND PAYING
AGENT PI]RPOSES BETWEEN TIIE VILLAGE OF BUTFALO GROVE AND AI,,IERICAN NATIONAL
BANK ANp TRUSI CoMpAlIy OF CnTCAGO (TRAM].{EL CROW SpECrAr SEp,VTCE AREA).
APPROVED: Deceuber 10