HomeMy WebLinkAboutORDINANCES-2000-069-O-00•
ORDINANCE NUMBER 69-0-00
• AN ORDINANCE setting forth the plan of finance for the payment
of the General Obligation Variable Rate Demand Bonds, Series
2000, of the City of Evanston, Cook County, Illinois.
Adopted by the City Council
on the 26th day of June 2000.
Published in Pamphlet Form
by the Authority of the City
Council on the 27th day of
June 2000.
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ORDINANCE NUMBER 69-0-00 •
AN ORDINANCE setting forth the plan of finance for the payment
of the General Obligation Variable Rate Demand Bonds, Series
2000, of the City of Evanston, Cook County, Illinois.
WHEREAS
A. The City of Evanston, Cook County, Illinois (the "City ") has a population
in excess of 25,000 as determined by the last official census, and pursuant to the provisions of
Section 6 of Article VII of the Constitution of the State of Illinois, the City is a home rule unit
and may exercise any power or perform any function pertaining to its government and affairs
including, but not limited to, the power to tax and to incur debt.
B. Pursuant to the provisions of said Section 6, and Ordinance Number 68-0-
00, adopted by the City Council of the City (the "Corporate Authorities") on June 26, 2000, the
City intends to issue its General Obligation Variable Rate Demand Bonds, Series 2000, •
consisting of four series, 2000A, Taxable Series 2000B, 2000C and 2000D (collectively, the
"Bonds ").
C. The Bonds will be payable according to the terms set forth in the Indenture
of Trust by and between the City and American National Bank and Trust Company of Chicago,
Chicago, Illinois, dated as of June 1, 2000 (the "Indenture").
D. Pursuant to the Indenture, the Bonds will mature on December 1, 2021 (the
"Stated Maturity Date"), and there are no scheduled principal payments due prior to the Stated
Maturity Date.
E. The Corporate Authorities have and do hereby determine that it is in the
best interests of the City to set forth a plan of finance for the payment of the principal amount of
the Bonds prior to the Stated Maturity Date.
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Now THEREFORE Be It Ordained by the City Council of the City of Evanston, Cook
County, Illinois, in the exercise of its home rule powers, as follows:
Section 1. Plan of Finance. The Corporate Authorities have determined it is
desirable to adopt a plan of finance for payment of the Bonds as a part of this Ordinance. This
statement is one of intent, and it shall not be binding upon the City by Bondholders or any other
person. The City hereby adopts the following schedule for payment of the Bonds and, except as
may be provided subsequently by ordinance of the City, the City will call for redemption or
cause to be purchased Bonds on December 1 of the years and in the amounts for each series as
follows:
...........................
.....................................................................................................................................................................................
SERIES 2000A
SERIEs 2000B SERIES 2000C
SERIES 2000D
YEAR
(AMOUNT)($)
(AMOUNT)($) (AMOUNT)($)
(AMOUNT)($)
02
.......................
:............................................:......................................._.............................................
:...................................... ............................................. ;............................................
...............................................:
;...................1...... 9000
2003
....................
1,300,000
........... ....................
300,000
........................................
200,000
2004
2,800 000
a......... r...................;....................,..................;............................................:...............................................:
_............................................_'.............................................
400 000 ':
200,000
....................,.............
2005
....................
-3,400,000
................................................................_............................................_.
400,000
....... ........
200,000
2006
.........................................................................500,000........q..............................................................�
3,600,000 €
t�� .... €
2007
3.900.000
500.000
200.000
2009
.............20..........10..........
.................................
...........201.1
...........
...........
013
2014 ...........
2016.
.................................
........... 017
2018
...........
...........20............19..........
..............2.........020..........
............2.....................
021
.................................
€ 1,000,000
q.......... ...........
.1,000,000
1,100,000
1,100r000
...............................
1,300,000
.................q....................................
1,400,000
1,500,000
.................q.......... ...........
1,100,000
................q....................................
Totals 19,000,000 2,700,000 € 10,400,000 5,000,000 '
:.............................................................................................................................................................................................................................
Section 2. Publication of Ordinance. A full, true, and complete copy of this
Ordinance shall be published within ten days after passage in pamphlet form by authority of the
Corporate Authorities.
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Section 3. Superseder and Effective Date. All ordinances, resolutions, and
orders, or parts thereof, in conflict herewith, are to the extent of such conflict hereby superseded;
and this Ordinance shall be in full force and effect immediately upon its passage, approval, and
publication.
AYES: Aldermen Wynne, Kent, Moran, Engelman, Rainey, Feldman, Newman
NAYS: None
ABSENT: Aldermen Bernstein and Drummer
ADOPTED: June 26, 2000
APPROVE1'1June 27, 2000
Mayor, City of Evanston
Cook County, Illinois
Recorded In City Records: June 27, 2000.
Published in pamphlet form by authority of the Corporate Authorities on June 27, 2000.
ATTEST:
City Clerk, f Evanston
Cook Coun , I nois
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