2016-08 RESOLUTION NO.2016-08
A RESOLUTION DECLARING OFFICAL INTENT REGARDING
CERTAIN CAPITAL EXPENDITURES TO BE REIMBURSED
FROM PROCEEDS OF AN OBLIGATION
WHEREAS, the Village of Buffalo Grove (the "Issuer") has developed a list of capital project(s)
(the"Projects")described in Exhibit A hereto-,and
WHEREAS, all or a portion of the expenditures related to the Project(s) (the "Expenditures") (i)
have been paid within sixty days prior to this Resolution or (ii) will be paid on or after the date of this
Resolution; and
WHEREAS, the Issuer reasonably expects to reimburse itself for the Expenditures with the
proceeds of an obligation:
NOW,THEREFORE,BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES
OF THE VILLAGE OF BUFFALO GROVE,COOK AND LAKE COUNTIES,ILLINOIS that:
Section 1. The preceding whereas clauses are hereby made a part of this Resolution as if fully
restated hereby.
Section 2. The Issuer reasonably expects to reimburse the Expenditures, set forth in Exhibit A
hereto,with proceeds of an obligation.
Section 3.The maximum principal amount of the obligations expected to be issued for the Projects
is not in excess of$6,000,000.
Section 4.Further Actions.All actions of the officers,agents and employees of the Village that are
in conformity with the purposes and intent of this Resolution, whether taken before or after the
adoption hereof,are hereby ratified,confi rmed and adopted
AYES: 6 —Berman,Trilling, Stein,Ottenhei nei Weidenfelcl, Johnson
DAYS: 0 -None
ABSENT- 0 -None
PASSED- March 21, 2016.
APPROVED: March 2 1. 2016
APPROVED:
1 A
_71�resiK_
ATTEST: Beverly Sussi-n.X� age rit.
Janet �iraibian, Village Clerk
EXHIBIT A
DESCRIPTION OF PROJECTS
#1 —2016 Village wide Street Maintenance Program—Phase 2-Engineering and construction of public
capital infrastructure including,specifically village roadway,curb and gutter,water and sewer
infrastructure, parkway restoration and drainage for the Issuer