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2019-39 RESOLUTION 2019-39 A RESOLUTION EXPRESSING OFFICIAL INTENT REGARDING CERTAIN CAPITAL EXPENDITURES TO BE REIMBURSED FROM PROCEEDS OF AN OBLIGATION TO BE ISSUED BY THE VILLAGE OF BUFFALO GROVE LAKE AND COOK COUNTIES.ILLINOIS. WHEREAS, the President and Board of Trustees (the "Corporate Authorities") of the Village of Buffalo Grove, Lake and Cook Counties, Illinois (the "Village"), have developed a list of capital projects described in Exhibit A hereto (the "Projects"); and WHEREAS, all or a portion of the expenditures relating to the Projects(the "Expenditures") (i)have been paid within the 60 days prior to the passage of this Resolution or (ii)will be paid on or after the passage of this Resolution; and WHEREAS, the Village reasonably expects to reimburse itself for the Expenditures with the proceeds of an obligation: Now,THEREFORE, Be It and It Is Hereby Resolved by the President and Board of Trustees of the Village of Buffalo Grove, Lake and Cook Counties, Illinois, as follows: Section 1. Incorporation of Preambles. The Corporate Authorities hereby find that all of the recitals contained in the preambles to this Resolution are full, true and correct and do incorporate them into this Resolution by this reference. Section 2. Intent to Reimburse. The Village reasonably expects to reimburse the Expenditures with proceeds of an obligation. Section 3. Maximum Amount. The maximum principal amount of the obligation expected to be issued for the Projects is $240,000.00 (two hundred forty thousand dollars). Section 4. Ratification. 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, confirmed and approved. Section 5. Severability. If any section, paragraph,clause or provision of this Resolution shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section,paragraph, clause or provision shall not affect any of the remaining provisions of this Resolution. Section 6. Repeal. All resolutions or parts thereof in conflict herewith be and the same are hereby repealed and this Resolution shall be in full force and effect forthwith upon its adoption. ADOPTED by the Corporate Authorities on October 21, 2019. AYES: 6—Stein, Ottenheimer, Weidenfeld Johnson Smith,.....E ke NAYS: 0 - None ABSENT: 0 - None PASSED: October 21, 2019 APPROVED: October 21 2019 APPROVED: Beverly Sus an, Village President ATTEST: aanet N-L irabian Village �k illage Cl -2- EXHIBIT A DESCRIPTION OF CAPITAL PROJECTS Water and Sewer system projects in and for the Village including,but not limited to, improvement, repair, equipment, renovation, expansion and replacement. Road and streetscape projects in and for the Village including,but not limited to,repair,expansion, replacement and improvement. Trustee Weidenfeld moved and Trustee Smith seconded the motion that said resolution as presented and read by title be adopted. After a full discussion thereof, the President directed that the roll be called for a vote upon the motion to adopt said resolution. Upon the roll being called, the following Trustees voted: AYES: 6—Stein Ottenheimer, Weidenfeld Johnson Smith Pike NAYS: 0 - None ABSENT: 0 - None Whereupon the President declared the motion carried and said resolution adopted, approved and signed the same in open meeting and directed the Village Clerk to record the same in the records of the President and Board of Trustees of the Village of Buffalo Grove, Lake and Cook Counties, Illinois,which was done. Other business not pertinent to the adoption of said resolution was duly transacted at the meeting. Upon motion duly made, seconded and carried, the meeting was adjourned. ATTEST: J SIRABIAN,VILLAGE CLERIC -2- STATE OF ILLINOIS ) ) SS COUNTY OF LAKE ) CERTIFICATION OF MINUTES AND RESOLUTION I, the undersigned, do hereby certify that I am the duly qualified and acting Village Clerk of the Village of Buffalo Grove, Lake and Cook Counties, Illinois (the "Village"), and as such official I am the keeper of the records and files of the Village and of the President and Board of Trustees of the Village (the "Corporate Authorities"). I do further certify that the foregoing constitutes a full, true and complete transcript of the minutes of the meeting of the Corporate Authorities held on the 21st day of October, 2019, insofar as same relates to the adoption of a resolution entitled: RESOLUTION expressing official intent regarding certain capital expenditures to be reimbursed from proceeds of an obligation to be issued by the Village of Buffalo Grove, Lake and Cook Counties, Illinois. a true, correct and complete copy of which said resolution as adopted at said meeting appears in the foregoing transcript of the minutes of said meeting. I do further certify that the deliberations of the Corporate Authorities on the adoption of said resolution were conducted openly, that the vote on the adoption of said resolution was taken openly,that said meeting was called and held at a specified time and place convenient to the public, that notice of said meeting was duly given to all of the news media requesting such notice, that an agenda for said meeting was posted at the location where said meeting was held and at the principal office of the Corporate Authorities(both such locations being at the Village Hall) at least 72 hours in advance of the holding of said meeting, that said meeting was called and held in strict compliance with the provisions of the Open Meetings Act of the State of Illinois, as amended, and with the provisions of the Illinois Municipal Code, as amended, and that the Corporate Authorities have complied with all of the provisions of such Act and Code and with all of the procedural rules of the Corporate Authorities in the adoption of the Resolution. IN WITNESS WHEREOF, I hereunto affix my official signature and the seal of the Village, this 21st day of October, 2019. ATTEST: Janet rabian, Village Clerk [SEAL]