Loading...
1986-08-18 - Resolution 1986-55 - APPROVING AND AUTHORIZING EXECUTION OF IGA COOPERATION AGREEMENT WITH THE VILLAGE OF WOODRIDGE, THE IL MUNICIPAL LEAGUE AND OTHER UNITES OF LOCAL GOVERNMENTRESOLUTION NO. 86 - 55 A RESOLUTION APPROVING AND AUTHORIZING EXECUTION OT INTERGOVERN}.IEMAI COOPERATION AGREEMENT I^IITtt TIiE VILLAGE OT WOODRIDGE, THE ILLINOIS MUNICIPAL LEAGUE AND OTIIER I'NITS OF LOCAL GOVERN},IENT WIIEREAS, the corporate Authoritles have determlned that the Pooled Loan Program establlshed by the llllnols Munlclpal League wlll asslat ln accoupllshlug the aftns of the Illlnols Munlclpal League generally and the VllJ-age of Buffalo Grove; and IIHEREAS, the Corporate Authorlties have determLned that lt ls ln the best lnterest of the Vlllage of Buffalo Grove to execute an Intergovernmental Cooperatlon Agreement establlshlng the Illlnols Munlclpal League Pooled Loan Program. NOW TIIEREFORE, BE IT RESOLVED BY THE PRESIDENT AND TEE BOARD OF TRUSTEES OF IHE VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUMIES, ILLINOIS, AS follows: SECTIoN 1. That the Intergovermental Cooperatlon Agreement pertainlug to thEElEd-f,oan Prograrn whlch ls attached hereto and Eade apart hereof ls approved and the Vlllage of Buffalo Grove ls authorlzed to enter Lnto such an agreement. SECTIoN 2. The Presldent and Clerk are authorlzed and dlrected to execute such agreement on behalf of the Vl11age of Buffalo Grove and to transmLt a duly executed copy thereof to the Illlnols Munlclpal League. SECTIoN 3. Thls Resolutlon shall becone effectlve lmedlately upon lts passaSe. AyES ! 6 - MarienEhal, O'Reil1y, Glover, Reid, Shields' Kowalski 16ygg. 0 - None ABSENT: 0 - None pASSED! August 18 r 986 198AppROVED: August 18 ,, ATTEST: $e"tIttt 8,4q144!vrrrEFflert Presldent 'v I ilTliCCt' ILlLl l::r: : - ::': : ::: : : Ji | :Gr::l::l: cll: :'5 :A t:'l'- fr'l':u3:'-- :f, --:': ::"-'l::j::'/:::l:n:::1- !ltJr> a!! --'t I I 1 ) ,\ 1' : c3opeiaE j.oll Pi-3\':5ro:IS o: --11: ILI::"::5 'l''s::--'l--: lll I Ii-r' \-J'L>r' r o7n .1 .1_VII, Sec. I0) and lhe IllEerqcverllr"lellE'1 L CCogeL'aCLOn '\c' ss 7+L-'7+9 (re3s)) a hcne rl'.I3 tlni; o E- by arlC anlo ng Village of '.Joodridge (Ifl. Rev. Stai. Clr' L27 ' Ioc a J- clove rn- (lire "Isstler"1, E!'.e IiL:::ois liu!1!cip'1! LiJ'j'le'a11 u:1r:lCOrpo- iLI:,ncis c:[::s, 1.'3 i..:c L : ::3l L as=:C:lc:o:r oi ,rr::lg3s tri.i ]. :": l : : l '-' : -- : 1 :: i:-'s ::::--:a : " l -- ': '" :--r-- ::'' ',1:'.e-J a s:..j:1e'L i-lll:!3 3:".:.c::r:::I s::aaI r'r ), :r:"''i51-a-1. (1935) ( c}.e .1:1d :-:C3.Ji]:':ar.l as si:Ol:'J : L!nl":!lo r..':r a:i r.lr:Ce L'e 3:!lil'r ce'l :1.c: cix? L: r;l^.- i es, anlcllg OCI'.ers: (a.) nar.y i'1ti..!ci-3aIi:r:5 ha'/a c::eC:l ',; ll l. -: .a..-n.r j- ra L l-:, i:= :it.lll'::::; (b) as a Dtac';ic-1! ...c c e :3 io i:1a r1.r. -u:e r, mally i'lr'ti:rc:11'r)'ir-1'-':s ):rr' u.1t1o c.a L n..1rj:r-: r:s sll:rp!y bl:cirltije (c) cf.e snr:r I I to bo t aorr r. r,a.J a,aaa.lt aEt,!-ac E lllCsr3S c o f lna Il7 tir.rn:ciPaIi.ties :'l e Eoo Ira Ei o l1a. ! 1191''gY tna:"k:r=; (.1) i.l'.a bor:ot/:i'(j i:e:ci c: irlaily iV,:!::?.,iicras a!l'e coo -) - -5 1-_ .._5 _: ':..:=.::._. - ::Ji:::::-::t,r..a.1:\/, L:r --.- )V- ' a! p:c'/l'lecl i:r chls .\qr:em:nE allci' PLtl's!latl'E :c 3LI:i''o'l:J iJ:..3il:'C' Lr..cler .\r:icL. i/Ii, Sec:icn 5(1) ci i:': iLl:':"ors CJt"3;::'L:::r at"C oc):e: appL:c3bl. p:cv!31'tls ci !li::cl: I-rw' :r:e !ssil:r' a5 a i)one rlrI3 trtlii ci lcc3! gcr"e::'ienE' !s au:l:c: !:-iC all'l '.:'!ll:1q :3 :3:rLe reJenue bollls (il'.e "3c'''ls'' ) l:l j':s i'ii\r:' :1": ?i:lc::'-ls i::rn tll: saLa o: irr.iclt r'rott!C 'ce a'z:-'il-:rcLe tc :''rr"d ;'l:e 2coL:c L:a':r p:l'Jra:il ; ?,i:f iI.:.S, l'i.::'.:::'?-1 -:'::':.j : 1 'j -- : : - : -1 : : :" ; ::" :'': : I') -:1 ::I:I :J:c(j'- 3..x i;l:l:ir 'l::l:: !3 ic::tr''i :::l :l'3 ::l:rC I-:'''r' 2::r1:-:n ''/riL ani::. lrla;l -111 1'-j:'l:lile:r.'- ^ l:ll ::": : 'li''l':'- '-r: ::': :1:13 C: '-:"e Jo::t"/- :.::(j --f, :'/'-:::.:: ::l: ::-:1:i :: s-::.. -l1:" i:' '?::---:::1::)n ::;:::- .--..-'r\ - \! ,.t=..- /, -..'_ ir::3.:'!.:.:,::i''!:::::e''l::p:"r':i-11)-g::::::p:-'L:''':':'1::'''-l "3r/3:'..i:ic:'i:;::--::::'-f,:-:::s::":"-=f,:'ij:':::?':'"'t:.-::=: ccltes :l''le :lle I s3!ie].- ''il li :ti:::' l':":l ai' :'L:i::=lli'li: -" 4 ; '-' l ::: 'l :'": : ' ',.-::lt 3. tra:::n:l c'1l:li::"'j as3cc:1irf,G 'l:' l::"e: lptr''p::a:: ::'il:rtl::eL :.:r5:::-lc:fa.f,r::'i:::'i:'-tri'5p::":'j::":J::r:::::i:''l!-':lc:::l:' -:.': r.,':-- f-1 / :'-' ::-if.::)' '-::::' f,: ::11:'-- ::' :" ": L"/::':'|-.=..--.. j -..=.-r i - r.!-t jlr 1ur.:.::paI :O:'.: ::: jil'-'3'It'3 ll"'-: 'f,5 jli :i?:-/ :;'',j5....=' (,-i:: ,,C:.:C.:-i :uppo: ::" ), sirc:! C::'-i:: :.:'J:)o!';5 :-l':'"r:.:"i r--::' :sLicja- ::::'-L:::"-'---::s 'l:'-:::'-' ::"':l:' :il:::-:'--: ''c : '' : : : : - 3 't E :' ) :' i'..jr'=i:etrcs 3:I:i1'oL- -"c ?!3''':33 c:':d:: sir3:3:i :f,r 'tr'q ;3';ii11i1'1 il'-: :J17:n<1rrs of E:1. i)L'!:"c:'Pai ol' 1:1d :r":?!-3s! ct'l ll'e Eoncls ' ::\tc:r ag'jeenre*E or agleelxe:rt.S (hqi'.e "Cr':diC SttPporE ;ic1u:eu"ei:Cs" ) to be r'--"3'- 's ( the e:rt,ereClin-'obyatldbeE."/eelliheISsue!:.rtlc]sttci.!ills!j.!!ullot.] "C::Cic II]sErcrttions" ); and -3- 1li':Z:.=.].S, pLtrsllanc ic the c: rnrs o : EIr: C: e'f i E S\tl)Qo r! Acjr=ernetrrs, clle Cr3di.t. Insiitucrotls ui-L! be eneicl=a co raimbr,rrseme:1E icr draws mace on ihe ci'ec:-r slrtoc:i.3 in orcler Ec pay m<lELtri!1cJ p';it:cipal oi and inceresc o11 ihe 3o:'d5 alld/or ptrr'- chase 6oncls dlrly tetldered for pttr-chase aild notr ocher"risa reitn- bursecl from furrds an<.I reverr\es gledged ttnc.le:: att<[ r:cei."'ed pltrsttallE 't to i::: P3.r::c:Eat:clr .\cJ:'"emeIrc:, Il:'-1e11:''l:':, '-r:':"f,r Re:'rarkar:1"c1 .\greerne:1! (3s heIei..af::r desc:;ibeC) aLI as ic 'e rlore iuLIT sec ior:ir in BI:e i::Cen:Ltre here!na i!e= xlel'r::ol":ci; :'l::: r-'i'.i=iii.:.S, c.rcai:1 prccee'Js i:'ottt '-l"e sal: oi El''e 3oncis siraiL be de?csiEeC lnic a E:-"-l s c i'tl''cl (:1"' "'-::rrl 3''rr"ci" ) ic be c=eaied and esi.rbj.:shed pr.r:s,.t.r11c i5 c;1e i:r'-l=trlul'e .rrrd i:!l-1, ".'irell C!strt:ii3cl i:: '. :l'.-' Lo.rr 3-r:'.:l :: :1"': pn:::::pr-!::::'j i:'': :: : c : i) : i :' : " : s ' 5e CtrtT .rpoL::C by Eile iltl ll i c ! i) a L r t i ' 3 :c""ari Ehe f i:"a::ct[c1' a3::l:at'!ci!!9 c:i !'ai:i'.:\i:i3e:li:i.: c:- :i": c:sc ci c-''iLi:i"':l::1 :r'o;':c:; itt .lcccuelance \ii;l: tl"e a.:i:)-:':i':)-e i"rlrs ci Ehe Sta" c: iLi::rois; 'rtt<l Ill-i:ii-:.S,1ilor:l::':trs3c'-tre:ie!ss''r'-r::c:oi-'rt:C'iire .oayment oi :ire Princ:paI oi and i:rEiresi otr che =or:cis ar'cl ocher alnoun!3 clL!3 3.l:Cl Or/ j.nq trncl:r tl'.: c:3cli t 5tr?por'- .r.'J:':enea.--3 ' Eile Isstrer :llalL at:.:r- iir:--c a T:',-rsc Iltcl::rc'.I!-a ( !l:a " i::J::tc'.1!.'err ) wlcl'I a bar:!::,:rg i:rst::'-iiici'. o r crltsi csNpa'L? appro"'e.j t7 :l:e :cilil"isii'''EC !' alld El:'3 I5:llJr, :5.') :ir:le:'.:"t:e !---r 'jLc1':Ce :-:::' L::c::j orl\er :lr:::!jt' tile !-o !::tr oi El'.e Eotrcls, the xrat:::er ;'I vririch irlnC; sir'rI! be dis- brrrsecl Erorn che Loau Er-t::d co paueicipa'i!ng iitlili'ipa!'it'j'es' Elre Hanner in !r!.u,ch the son.is .1re to be issrte<l itrcluditrg, L'iEl\cttl: !i !iaiiolr, the seEErncJ oe inEere.JE, r-'aces ancl irltereSc rlcc:jrrcl I periods ther:olr .rncl the trtarkecj.txj atrd remarkeElnq Ehel;eoE' arld Ehe loau 9L'oqL'arn ol'l il\rniciP3!iEies. in:r)l::r !r'r ';i'.rcit cha pr::i"::paI o;, pr:::xruln' t: a::i" E.:re 3or'.Cs sllaI: ie palC .-rs :1": sane sita-L :e:::rn :-c l "-'l :3'Y1:-: .,,iire:lt::: 3y a3l:Ce:, llra:'-l::.:7, ;1--:::':: l:1 o: 1c:::':':--::i.|; anc !lH:i':.r.S, ihe Issuel si.aii :aq''r::: il"r: :e:l'r'':3 pr:'/:- sion:.3 msde Llll-.i:: :l': ::'.c::1:"::=, :h': ?f,:::::pa::f,1.' iiji?-5:t::":s r:""1 ci'.cc'.'3'f::Stlp?or':.:.(j'-''3":llell:3::::::":caJ:tl'1:':--''':p:::"c:p:rlo:' :'"r ' 1-5r'5 :'Ot:iS ::"': ::": ::::15''t':Seli:::1:DL Jtl -.:..t, '": t of a:'.y .l:-:;s nl'.: J:i'.:: fir.l!l:l:3 ::1: -:'''::: ::": l::il: 3'';:o:: iqL'"an3tr:3 :1s :l'-a s:n: si":'!l ::c:r': :u: :::d pa7:l)l:; r:': i,li=l:.:..], ::'.: -5;.1 :'-' ::'--1 -- ::'1'-r::': --""- -- :"': i::c sr:.'"::: aar'i:er'.:s :l 3: :rn--:: ii --:::::":-:::r-:::?; -::"::- ::": -:..:'l ):"--'::? ' ::": ?a!i:a:pac:cl1 .'\iJ::Sxlelli-i 3n:1 ::l: C::cl:i SLr::l:-- :'1:::r'r::':s "i:)-l' s,-l:::::':r'.: --f, ?:! l-- :: :": p::""::1:"'I :::' :!r!J! -rr !-, ----, - )^ -i'.a f :i'.15 ,-:: "J::::C :f tref,r::Il).'-1. 1, r--1 , : j:i.i::, .'. j ::'.a ii:::= :.:l-l ::::::-: ::! -' 1:: :r'::-l' :) : ":'::':-:: --l': C:':.J:.: :irji:---.::Jll5 :: j ::'--r"i'j' :: =:'-' Tl'-: :": j:'l::'-- :l :;": ::il:: :.lp3ol: .i.l'- n::r::1is lf, trir7 :':i 3:::::i3: '=':': '-:';:'j:i: ::" --':: i:r":s alrcl ac nak: aL! oc:'.a= pay::e:':: ::c''t:'r:C' ),Ci'i::-:=i:l;f:,:':::?':':::15::f:::''li::-;l)Ll;i''j' Se:TICll I: Tl:e I:sr.:el a..'-l :1"' :'-l:r::l:'3::'3--f,r :r:LL 3:3::aL'3 c.:13 q3c-i,lrle:':-.s n'c3s3ar'/ :tr ::::1J'-::::l": ::': plcl-:d l'arl prcrlrlrll . :aLL lual !-: pooled loan Puo<.;r.r . SECT I,ON 3 : TIe Is3'-ter ',/i L L L:::;ue l3l'.:s't Tire ACm!!r!st!-ator '.J i lI -1Cl.ni11isi3r Ehe pooled o!- Eha Issuer .atrd the parEicipaEingbehn! E -)- \'/ \./ esecrrE:.ncj i5l5 Agr3.:me11E' e3c\ ullse l: s 1gilecI ' illrrrrc:'paIiET si''1LI l.'oc beconre obligac-.d oi entitled Ec borr'"''I any arxoLl:r': ,ironl clle pooL:d Ioan puo<1r'am, atlcl , e:<cePE as ex'DressLT sec icr'-l'' ::: !.'s parElcul-1r ParcicipaEion igr"ernellt' shaII noc becctne obll<iaced on or l'j'th r33oec! to .he Eotr<]s cr Ec Pey an7 oi ihe C.s:5 o: j.:li>Iernen.-:.nc; i:'-: pco L3C L:a:l P:cc-::'lrrr' -.5.1cllun1nf3iijne'ji'fii.^::L?31-l--71":':::7':i3:-:l53sr:":: :": :'i 'l : " : : :' ; :' l :' : 7 iL3 3:: iiar.::-3r3 a3 --l)3 :3:'le: :"'tr:3 3' ;-l:'s :: lac3JS<1:'7 ::: :1": :::'L::' :tr :::pi::r"?:": ::": ?c'i:'-: :l::" ;:-':l1i"':ll ::: ii.t: b:Iei:-- o:- sr.::lt ii\in:alpa-].?7' :'': --11::1'j ::"3 :'";e:' :f, lf :i'r' 3clrc3 r:c i:tr.ri:ce ('7 :irl"Cinq i:": i3c!::l L:l;r ?r:'j:"lrr\) ::.'Y :''r'i:"or- .-:.i ':-.':a: :: s-:::'. : : 'l :: : : '- : I : : : r' :: :5 :"i-':DY ::::::s5:-/ s:'-'::-l :1..tra li'.e c:ln:::i:L'', :!'L:"1:].pai::7 '-'=s::'/:s ::": :li':-l:'l-'l11: r::jll-- ' --'- ": :) --'-::: :; :: :i:::':5 -'l e::-l:::-I? ;"1::" :::':":::l-:::t :'"j::: :'-:ir 4"./ f:'---.1 l:rL'13:: ii:' S::a:::i5:ll":p:::::lrr-t:3:-l:i\1":\'::):/'::''-1 in!"1'es: on ;:1' 3or"Cs slliiL c: pa7::l: :cLel-; ::::t ::': ;o''r:::; ::"'-l -..-..-,31 ._:.. ::.: _:,-::r:--'.1::, :.'.: s:c.-r:':.-i --) ::'.: --::<:::": ::': r'i /-'' '- ? 1): ! i c ! p 1 ::- r:l i''ir3'nell:s rt:ci ;:"t: C:'::1:: 3rit:c''-- ::Jr?err"3:":3 -:': ,,,. -,-.- _ ),6 3o;l<ls -r:.:1 ::": o5'-::jI::'ol"5 ::'a cl'i::"-"1"- .i ': ::"' - )5!'t=: -'r'--- T,\-t.1'-:.r,-s ::'.: ?i:':-::::::I:" '':::-='r'-':'--: ' :"" :::(l;'-- j''''JJ:-: A.J:'ce$etrcs, .rttd anv ocl\er docui'la,.rc: ::La::119 -"c ;l.l: pco !e'J Ioat't pro(Jr3.nr (collec-'i'/eL'/' Ehe "Proqrall Docuniet'rts" ) shaII noc' be <ieernecl t.o collgticute a d'abE' liabiliEY' or obLicJatron oi tile sE'1Le of ILlinois, or atry poliEica! subdl"'i3ion or lnttt'liciPaliEy ihereoE' iircltll:tx1 EIle Is3uer' o!-'a pLaclc1e oE t'he taich arrd cr"d!tr of ihe -6- Si3:: o:' fnj '-ol:.::::r j' su:CliLs:li" c: :r'-l:":::r-. -'-::l' :::.r":' - -^i. -.-::.t:..j incltrC::lcj ci'.e !ss\t3r, btt' siraIL ccrlsc:':'l:= r-.' - -r- payeble scL:Ly l':cnt -'-l-e ' -oL:lii: c; c1''cse i'-ti':: ' 3'':33Lrr')::' 3i.'' sortLcesassar;crt\lniire?:oqr3nlDocilir'el'':3T1":i::itai"c=c: t\,e sonds shaIL lloE. ci j3atl-'-:l, incll':c--I7 o:' :3i.':::":ieri--I7 c5I].'.in'-e cire Iss.l.L-, ti:e Si3c: cr- ilLiiroj's c' :l:Y po)-:.--::'-'l- = 'r::c:' !':' 5 i o '' o: ;:.r.t:..:.::.--ll:--.' --il=::::, ::"c--:::::7 :::: ::i\::'j --5 ''2't"' '-:' :: pI:1:;: an7 ::::: ca :-1:''-1::Jl'' cr as3essii''1:- ;'':':5J:'r':: ::::':::: e:':::?E' lr -1:1y pa:'::c'-iL-r'-' llrtnicl;:'lrtT nay o:'':r't:' 3' p:? ?':l: ::'' ::3 l-"':;l::- piE:.ci] -:. -J : + e:.l e :1 : ' :=:::i:i ): l: -s rr::":'': 'j' :';:::l --:"-1 -- ::'l "-l:t::: -rr: '-'l: j s:'.til-i'.-r',':::'.:po"i:r:3:13pr3"'::'--j:'';:;pl)'/-l'.'r:'----"'--r"r !l:r::s :-':ttt c:'.a ?oc'::i l;atr i:':i)'-L:x' SIlTllll 7: I: '':r7 '1"'3 )'j "''-'-: '): --':: ::"-:tr''lrl:3' 3'J:-::- melt:s ol- 3::I'':::'olls 3i::::::':'l ::l --:":5 :''j:::::l::'-- 3::'- l I b: i": LC .1^-:.1r./ --) l:1 .' :sp[]s5 .l:3/:'5-:1"3 Z= - i"'; :- :::"---L:J :l ::": :o-i;7 C: ::{:::s3 L:',"' :i":"1:1i" :'l: :':p-:si-i 3::'::'::' -':'-1', f :-' :'i1:':j-- prrblic policy, clj shall ior any !-eason che!r sucll covenanEs, acjr'enellgs cr pu void .l:rd illal l be deenecl separab!: f l'on che r'::'iar:1i:"q c'!jen:lll=3 ' acJreenlenE3 or puouisiotrs itereoi ap'C si:llL rl" lr'o ";nl ''i:'cr ::le \,.1Lid::7oia:r7oi:l"eoEhe=PLc!/Ls:'ot:;of::":':':';L'':e:'l'-1:rcItl!l"e I .='rat,a !r shaIL et'er be ldec:lnllled by a ccttitr oi ccttrceEet:! jLtr!s- cliccionEhaecllein,/o!./eencoeat\Tl.lr.rrricip.rliEre5irrE,h!.pooled loatl proc.lranr is trot' .psrmicted by Ehe lairs oi the SE:lE= of Mlr.ois, t,he PooIed !o'rn pro<1r'ain :traIL proceecl \iiti) ouly tllorse lllrtrlclpaLiBies :)c(lricEea ^s garEi'cil)'lnE's Eheuein' ,,ihai5ce'/er 5e I'.elC .in'raL:''-:' o.,'i:lcl'.s 51.'.3i1- 'Je n''tIL an(i -7- SECTION 8: Thrs AgreemenE shaII take effect j,nlnrediately rrpot'r its execution by tlre Issuer, the Adnu.ni.strator and aC Ieast ol)e Municipality r11 acidttron to the, Issuer. Any number of aclditt-orraI Mtrnicip:rlities may. at arly time, beconle parties to. this .\cJreenrelrt by execut:l'tq the Fo!'m of .eicceptance as set forth belo\"/ on all executed corurtell)a!'t of this Aqreenrent. D.1ted as of )tlq ).rul.1VdlE I 1986 l)u.A6t X L.,ottOO-tD6L I I Irnor s I'lunicll)aI Leagtre Adrn i. r'l I ssueI. Ey, tsy, I tS Atte ') riLraloL' b6.-.c lr l -8- ,rrEresL Z;*W L Ls.__/2L /rt<_ - _ I SL:AL I t IT . me unoersign"o *,o,"t0"u*,1:ffi;:"".TT:'*,." and provisions or the Intergovernmetal cooperation Agreement, dated ss of JuIy 1, 19gti by and among village of lvoodridge, the lllinois Municipal League and the Municipalities eiecuting such &greement. VILLAGE OF BUFFALO GROVE DATE: August 18 ,1986 .l Iunic ty ItS: Village President At test:&'air."*, Its: Village Clerk (SEAL) Bv -9-