HomeMy WebLinkAboutRESOLUTIONS-1995-083-R-95•
83-R-95
A Resolution
Authorizing the Execution and Delivery of a
Replacement Bond in Connection with the City of Evanston
Economic Development Limited Obligation Revenue Bond
(Starkman Project) Series 1983
WHEREAS, the City of Evanston (hereinafter called the "City") issued a City of
Evanston, Illinois Development Limited Obligation Revenue Bond (Starkman Project), Series
1983, on June 1, 1983 (hereinafter called the "Bond") pursuant to Ordinance 66-0-83; and
WHEREAS, Bank One, Chicago, NA, f/k/a Bank One, Evanston, NA, f/k/a First Illinois
Bank of Evanston, N.A., f/k/a First National Bank and Trust Company of Evanston
• (hereinafter called the "Bank"), the holder of the Bond, has advised the City that the Bond
has been lost and has requested that the City issue a replacement Bond (hereinafter called
the "Replacement Bond"); and
WHEREAS, the City is willing to comply with the request of the Bank and issue a
Replacement Bond.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
EVANSTON, COOK COUNTY, ILLINOIS:
SECTION 1: The Mayor and City Clerk are hereby authorized to execute, deliver, and
issue the Replacement Bond to the Bank, which Replacement Bond shall be of like series,
date, number, maturity and denomination as that of the Bond, in accordance with the
0 procedures and provisions of Section 108 of the Indenture dated June 1, 1983 between the
City and the Bank (except to the extent provided below) upon receipt by the City of
satisfactory evidence of the ownership of the Bond and the loss thereof.
SECTION 2: In order to facilitate the timely issuance of the Replacement Bond, the
City Council deems it advisable to waive thei�equirement contained in the Indenture that
the Bank provide a bond of indemnity to the City prior to the issuance of the Replacement
Bond, and to accept an indemnity agreement from the Bank instead.
SECTION 3: That this Resolution shall be in full force and effect from and after the
date of its passage and approval in the manner provided by law.
NIS EN
Mayor
r
Adopted: 1995
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