HomeMy WebLinkAboutRESOLUTIONS-2001-044-R-010
6/04/01
44-R-01
A RESOLUTION
Authorizing the City of Evanston to Enter an
Intergovernmental Agreement with
Evanston Township to Repay City Funds Loaned to the Township
WHEREAS, the City of Evanston ("City") and Evanston Township ("Township")
are geographically coterminous and serve the same population; and
and
WHEREAS, the Township provides services to all qualified residents of the City;
WHEREAS, the Township budget, both the Town Fund and General Fund, is
• funded by property taxes collected by Cook County; and
WHEREAS, the timing of the Cook County property tax bills will cause the
Township cash flow problems; and
WHEREAS, the Township in anticipation of receiving its funds needed
assistance; and
WHEREAS, because of the delay in receiving its share of the property tax
revenues, the Township borrowed $700,000 funds and repaid $300,00 to offset the
delayed receipt of property tax revenues; and
WHEREAS, the City forgave $250,000 of the $400,00 in loans due from the
Township; and
WHEREAS, the Township still owes the City $150,000 in loaned funds; and
• WHEREAS, pursuant to the Intergovernmental Cooperation Act, 5 ILCS 220/3,
the City and Township may and desire to enter into an Intergovernmental Agreement
whereby the City will establish a repayment schedule of the $150,000 outstanding loan
the Township owes the City;
NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF EVANSTON, COOK COUNTY, ILLINOIS:
SECTION 1:_That the City of Evanston is authorized to collect a sum of
$150,000.00 to be paid back in full from the Evanston Township.
SECTION 2: That the City Manager is authorized to collect $25,000 each fiscal
quarter from the Evanston Township commencing June, 2001 and ending December,
01Z1►•
•
SECTION 3: That the City Manager is authorized to prepare an •
Intergovernmental Agreement providing for said loan repayment by the Evanston
Township to the City.
SECTION 4: That this Resolution shall be in full force and effect from and after
its passage and approval in the manner provided by law.
Mayor
ATTEST:
City Clerk
Adopted:'�,�- ,2001. •