HomeMy WebLinkAboutRESOLUTIONS-2001-049-R-01•
6/04/01
49-R-01
A RESOLUTION
Authorizing the Township Supervisor to Enter an
Intergovernmental Agreement with the City of
Evanston to Repay 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 Township Supervisor is authorized to sign an
Intergovernmental Agreement between Evanston Township and the City of Evanston
providing for said loan repayment by the Township to the City.
SECTION 2: That this Resolution shall be in full force and effect from and after
its passage and approval in the manner provided by law.
•
Mayor
Adopted: !1 s may._ 1 ,2001.
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