HomeMy WebLinkAboutRESOLUTIONS-2002-035-R-0235-R-02
A RESOLUTION
Bond Volume Cap Allocation for 2002
Single -Family Housing and
Industrial/Commercial Revenue Bond Program
WHEREAS, the City of Evanston, Cook County, Illinois (the
"Municipality") is a home rule unit under Section 6(a) of Article VII of the
Illinois Constitution of 1970; and
WHEREAS, there exists the need to aid in financing the cost of
economic development projects in order to relieve conditions of
• unemployment and to encourage an increase in commerce and industry
and enhance the tax base within the Municipality, thereby reducing
unemployment and to provide for the increased welfare and prosperity of
the residents; and
WHEREAS, the United States Government has authorized several
states and their political subdivisions to issue qualified mortgage bonds
(the "Bonds") as defined in Section 143(a) of the Internal Revenue Code of
1986, as amended, (the "Code") in order to provide below -market interest
rate loans to qualifying individuals and/or to issue mortgage credit
certificates (the "Certificates") pursuant to Section 25 of the Code in lieu of
Bonds which entitle qualifying individuals to a credit against their federal
income tax; and
E
prepare and execute any and all documents, consistent with the foregoing,
necessary to implement the carry forward provision. •
Section 4. This Resolution shall be in full force and effect upon its
passage and approval in the manner provided by law.
L _....
ayor
ATTEST:
Adopted: ;�� �� , 2002
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• Agreement
SECTION 1: The foregoing recitals are found as facts and incorporated herein.
SECTION 2: The City of Evanston and Reba Place Day Nursery hereby agree
to extend the Agreement period for the 2001/02 CDBG program Purchase of Services
Agreement to September 30, 2002. The terms and conditions. In the March 1, 2001
Agreement remain in effect and are unmodified, except for the term extension agreed to
herein.
IN WITNESS, WHEREOF, the parties have executed this amendment in
triplicate.
CITY OF EVANSTON GRANTEE
City Manager
• ATTEST: ATTEST:
Date: , 2002
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