1990-44o •
RESOLUTION NO. 90 -44
A RESOLUTION APPROVING A PROJECT TO BE FINANCED BY BONDS ISSUED BY
THE ILLINOIS DEVELOPMENT FINANCE AUTHORITY (OKAMOTO CORPORATION PROJECT)
WHEREAS, the Village of Buffalo Grove, Illinois (the "Village ") has
received a notice from the Illinois Development Finance Authority ( "IDFA ")'
pursuant to Section 6.1 of the Illinois Development Finance Authority Act;
and
WHEREAS, the Village has reviewed the wishes to approve a resolution
allowing for the issuance of Industrial Development Revenue Bonds in an
amount not to exceed $4,000,000 for the construction and equipping of a
manufacturing facility to be located at 1500 Busch Parkway in the Village to
be occupied by Okamoto Corporation; and
WHEREAS, the bonds will be issued by IDFA: and
WHEREAS, the project is intended to increase the employment base of the
Village.
NOW, THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF
THE VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES ILLINOIS, IN THE
EXERCISE OF ITS HOME RULE POWERS, as follows:
SECTION 1. The Village approves this industrial project and
thereby waives the 45 day notice period required under Section 6.1 of the
Illinois Development Finance Act.
SECTION 2. The Village Clerk is directed to furnish a certified
copy of this Resolution.
PASSED AND APPROVED THIS 10th day of September, 1990.
AYES: Marienthal, Reid, Shifrin, Mathias, O'Malley, Kahn
NAYES: None
ABSENT: None
Village President
ATTEST:
VillAo Clerk