Loading...
2022-05-16 - Resolution 2022-09 - EXPRESSING OFFICIAL INTENT REGARDING CERTAIN CAPITAL EXPENDITURES TO BE REIMBURSED FROM PROCEEDS OF ONE OR MORE OBLIGATIONS TO BE ISSUED BY THE VILLAGE OF BUFFALO GROVE, LAKE AND COOK COUNTIES, ILLINOIS RESOLUTION NO. 2022-09 RESOLUTION EXPRESSING OFFICIAL INTENT REGARDING CERTAIN CAPITAL EXPENDITURES TO BE REIMBURSED FROM PROCEEDS OF ONE OR MORE OBLIGATIONS TO BE ISSUED BY THE VILLAGE OF BUFFALO GROVE, LAKE AND COOK COUNTIES, ILLINOIS. WHEREAS,the President and the Board of Trustees (the "Board") of the Village of Buffalo Grove, Lake and Cook Counties, (Illinois(the "Village"),has determined that it is necessary and in the best interests of the Village to purchase and improve a building for the'Village's public works department(the "Project"); and WHEREAS,all or a portion of the expenditures relating to the Project(the "Expenditures'), (i) have been paid within the 60 days prior to the passage of this Resolution or(ii) wild be paid on or after the passage of thils Resolution; and WHEREAS, the Village reasonably expects to reimburse itself for the Expenditures with the proceeds of one or more obligations- NOW,THEREFORE, BE IT AND IT IS HEREBY RESOLVED BY THE PRESIDENT AND THE BOARD OF TRUSTEES OF THE VILLAGE OF BUFFALO GROVE, LAKE AND COOK COUNTIES, ILLINOIS, as follows: Section,1. Incorporation of Preambles. The Board hereby finds 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 one or more obligations. Section 3. Maximum Amount. The maximum aggregate principal amount of the obligations expected to be issued for the Project is$30,000,000. Section 4. Separate Action Required to Pursue Project and Expend Funds. This Resolution does not and shall not be construed to obligate the Village in any manner to pursue any identified! Project or expend any funds for the completion of any identified Project,and the Board shall retain full discretion to approve such Project and any expenditure of funds relating thereto, aind such: approval shall be by separate action of the Board. Section 5. 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 6., 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 7. 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. AYES: 6—Stein,Ottenheimer,Weidenfeld,Johnson,Smith, Pike NAYES-. 0—None ABSENT: 0—(None PASSED: N ay 16, 2022 APPROVED: May I§,_Z_Q2 2 APPROVED: Beverly Suss Village President ATTEST: x ,arr 7- e "--g, V44 t ii a bian, ige Clerk EXTRACT OF MINT,'�,r'ES of a regular public meeting of the President and Board ofTrustecs of the Village of Buffalo Grove, Lake and Cook Counties, Illinois, field in the Jeffrey S. Braiman Council Chambers, 50 Raupp Boulevard. Buffalo Grove, Illinois, in said Village at 7:3O P.M" , on the 16th day of"May, 2022. The meeting was called to order by the President, and upon the roll being called, the following Trustees were physically present at said location: Trustees Stein, Ottenheimer, Weidenfeld, Johnson, Smith, and Pike, Beverly Sussman, the President, was allowed in accordance with and to the extent allowed by rules adopted by the President and Board of Trustees to attend the meeting by video or audio conference. No Trustee was not permitted to attend the meeting by, video or audio conference. The President an110UnCCd that the Village has determined to proceed with the purchase and improvement of a building for the Village's Public Works Department for which it reasonably expects to reimburse itself'1'(ir the expenditures related thereto with the proceeds of one or more obligations and that the President and the Board of` 'Trustees would consider the adoption of' a TCSO]Ution expressing the Village's official intent with regard to Such expenditures. Whereupon Trustee Weidenteld presented, and the Village Clerk made available to each Trustee and interested members of the, public, cornplete copies of a resolution entitled: Resolution expressing official intent regarding certain capital expenditures to be reimbursed frorn proceeds of one or more obligations to be issued by the Village of Buffalo Grove. Lake and Cook Counties, Illinois. RUITalo Grove-2022 reiniburserneni reso€ution 4863-3205-7887 Q 2300788 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. Ulpon the roll being called, the following Trustees voted AYE: Stein, Ottenheirner, Weidienfeld, Johnson,Srn!thike The following Trustees voted MAY; 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 the 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 duily transacted at the meeting. Upon motion clWy made, seconded and carried,the meeting was adjourned. Village Clerk STATE OF ILLINOIS SS COUNTY OF LAKE CERTIFICATION OF MINUTES AND,RESOLUTION 1, 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 1,am the keeper of the, records and files of the Village and of the President and Board of Truistees of the Village (the "Board"). I do further certify that the foregoing constitutes a full,true and complete transcript of the minutes of the meeting of the Board held on the 16th day of May, 2022, insofar as same relates to the adoption of a resolution entitled: RESOLUT4ON expressing official intent regarding certain capital expenditures to be reimbursed from proceeds of one,or more obligations 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, 11 do further certify that the deliberations of the Board on the adoption of said resolution were taken openly; that the vote on the adoption of said resolution was taken openly; that said meeting was held at a specified time, and place convenient to the public; that notice of said meeting was,duly given to all newspapers, radio or television stations and other 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 Board on a day other than a Saturday, Sunday, or holiday on which governmental entities in the State of Illinois are closed and at least 72 hours in advance of the holding of said meeting; that at least one copy of said agenda was continuously available for public review during the entire 72-hour period preceding said meeting, that a true, correct and complete copy of said agenda as so posted is attached hereto as ExhibitA; 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 the Illinois Municipal Code, as amended; and that the Board hats complied with all of the provisions of said Act ands said Code and with all of the procedural rules of the Board in the adoption of said resolution. IN WITNESS WHEREOF, l hereunto affix my official signature and the seall of the Village, this 16th day of May, 2022, C, Village Clergy [SEAL]