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Home My WebLink AboutORDINANCES-1995-046-O-95CITY OF EVANSTON COOK COUNTY, ILLINOIS ORDINANCE NO. -�� "0 " � AN ORDINANCE REALLOCATING $3,661,650.00 OF THE CITY OF EVANSTON'S PRIVATE ACTIVITY BOND ALLOCATION TO THE ILLINOIS DEVELOPMENT FINANCE AUTHORITY • ADOPTED BY THE MAYOR AND CITY COUNCIL OF THE CITY OF EVANSTON THIS 27th DAY OF APRIL, 1995 0 • ORDINANCE ORDINANCE REALLOCATING $3,661,650 OF THE CITY OF EVANSTON'S PRIVATE ACTIVITY BOND ALLOCATION TO THE ILLINOIS DEVELOPMENT FINANCE AUTHORITY WHEREAS, pursuant to the Internal Revenue Code of 1986, as amended, the City of Evanston (the "City") as a constitution home rule unit is allocated a certain amount of "volume cap" per calendar year; and WHEREAS, the Illinois Private Activity Bond Allocation Act, 30 ILCS 345 et seq., provides, among other things, that the corporate authorities of any home rule unit may reallocate all or any portion of its unused allocation of volume cap; and WHEREAS, the City has available unused volume cap for calendar year 1995; and WHEREAS, the City wishes to authorize the Mayor of the City (the "Mayor") to reallocate a portion of its unused volume cap for calendar year 1995 to the Illinois Development Finance • Authority (the "Authority") for use in connection with certain transactions; NOW, THEREFORE, BE IT ORDAINED BY THE MAYOR AND CITY COUNCIL OF THE CITY OF EVANSTON: SECTION 1. Reallocation. The City hereby authorizes and directs the Mayor, upon receipt of a fee to the City of 1% of the amount of cap reallocated (i.e., $36,616.50), to reallocate to the Authority $3,661,650 of its unused volume cap, for calendar year 1995 (the "Reallocation") for application by the Authority to bonds to be issued to finance manufacturing projects located in one or more of the following municipalities for use by one or more of the following entities: Location User of Proiect Estimated Jobs Created Woodridge, IL Home Run Inn Frozen Foods, Inc. 139 Bedford Park, IL Homak Manufacturing Company, Inc. 100 Wood Dale, IL Icon Metalcraft, Inc. 83 Romeoville, IL Fleetwood Systems, Inc. 230 Once made, the Reallocation shall be irrevocable. The Mayor will evidence the making of such Reallocation by filing a certificate with the Clerk of the City stating the amount of volume cap • reallocated pursuant to this ordinance. SECTION 2. Records. The Mayor is hereby authorized and directed to maintain a record of such Reallocation for the term of the Bonds issued pursuant to such Reallocation. SECTION 3. Notice. The Mayor shall provide a written notice of such Reallocation to the Office of the Governor and to the Authority. SECTION 4. Execution of Documents. The Mayor shall execute such agreements, certificates and other documents on behalf of the City as he deems necessary and desirable to evidence such Reallocation, which may include a representation on behalf of the City that such Reallocation volume cap has not been used and is available for Reallocation under the Internal Revenue Code and the Illinois Private Activity Bond Allocation Act. VOTE: SECTION 5. Effective Date. This ordinance shall be effective from and after its passage. DATED: April 27, 1995 AYE: Al dt- Pn FPl rlman , NPwman 0 nr=r-�-r _ r i ithri a NeydAmann Maran and Engelman. NAY: None • APPROVED: Mayo - Attest: City Clerkt��//�� Recorded in the Municipal Records: April 27, 1995. • 2 . CERTIFICATE OF THE MAYOR The undersigned does hereby certify that he is the duly qualified and acting Mayor (the "Mayor") of the City of Evanston, Cook County, Illinois (the "City") and does hereby further certify as follows: 1. Pursuant to an ordinance of the City entitled "ORDINANCE REALLOCATING $3,661,650 OF THE CITY OF EVANSTON'S PRIVATE ACTIVITY BOND ALLOCATION TO THE ILLINOIS DEVELOPMENT FINANCE AUTHORITY" (the "Ordinance"), the Mayor has been authorized and directed to reallocate $3,661,650 of the City's private activity bond volume cap to the Illinois Development Finance Authority (the "Authority"). 2. As of the date hereof, the undersigned does hereby irrevocably reallocate to the Authority $3,661,650 of the City's volume cap for the calendar year 1995. 3. The undersigned has provided notice of such reallocation to the Office of the Governor of the State of Illinois and the Authority substantially in the form attached hereto as Exhibit A. IN WITNESS WHEREOF, I hereunto affix my official signature this 27th day of April, 1995. f May o e City; vanston 0 EVIDENCE OF MAILING OF MAYOR'S • NOTICE OF REALLOCATION TO THE OFFICE OF THE GOVERNOR To: Office of the Governor 207 State House Springfield, Illinois 62703 Attn: Kim Fowler Illinois Development Finance Authority 233 South Wacker Drive Suite 5310 Chicago, Illinois 60606 Attn: Executive Director The undersigned, the Mayor (the "Mayor") of the City of Evanston (the "City"), pursuant to an ordinance of the City entitled "ORDINANCE REALLOCATING $3,661,650 OF THE CITY OF EVANSTON'S PRIVATE ACTIVITY BOND ALLOCATION TO THE ILLINOIS DEVELOPMENT FINANCE AUTHORITY" duly adopted by the Mayor and the City Council of the City and effective on April 27, 1995, hereby notifies the Office of the Governor of the State of Illinois and the Illinois Development Finance Authority (the "Authority") that, on April 27, 1995, the undersigned has reallocated $3,661,650 of the City of Evanston's unused private activity bond volume cap for the calendar year 1995 to the Authority. Such allocation is irrevocable. 1995. IN WITNESS WHEREOF, I hereunto affix my official signature, this 27th day of April, CITY OF EVANSTON Bj Mayo 0 • CERTIFICATE OF THE CITY CLERK I, the undersigned, do hereby certify that I am the duly qualified and acting City-Clerk..of the City of Evanston, Cook County, Illinois and as such official I do further certify as follows: 1. The undersigned keeps the official books, records, files and journal of the proceedings of the City of Evanston. 2. Attached hereto as Exhibit A is a true, correct and complete copy of an ordinance of the City entitled 'ORDINANCE REALLOCATING $3,661,650 OF THE CITY OF EVANSTON'S PRIVATE ACTIVITY BOND ALLOCATION TO THE ILLINOIS DEVELOPMENT FINANCE AUTHORITY" duly adopted by the Mayor and the City Council of the City effective on April 27, 1995, said ordinance has not been repealed, amended, supplemented or modified in any way and remains in full force and effect on the date hereof. 3. Attached hereto as Exhibit B is a true, correct and complete excerpt of the Minutes of the regular meeting of the City Council of the City held April 27, 1995 evidencing the adoption of said ordinance. 4. Attached hereto as Exhibit C is a full, true and .complete copy of the Certificate of the Mayor confirming the reallocation of $3,661,650 of the City of Evanston's unused private activity bond volume cap for the calendar year 1995 to the Authority which was filed with the Office of the City Clerk on April 27, 1995. [SEAL] 5. At the time of execution of the attached Certificate of the Mayor, the person signing said Certificate was the duly qualified and acting Mayor of the City of Evanston. IN WITNESS WHEREOF, I hereunto affix my official signature this 27th day of April, 1995. CITY OF EVANSTON B y ,. I Clerk MMH04389.DOC 04/27/95 3:26pm MITTL= of a special meeting of the Mayor and City Council of the City of Evanston, Cook County, Illinois, held at the City Hall, 2100 Ridge, Evanston, Illinois, 60201 in said City at 5:45 o'clock p.m., on the 27th day of Apa 1995. The Mayor called the meeting to order. Upon roll call by the City Clerk, the following Council Members answered present: Alrlarnen Feldran. Newman. Drummer. Guthrie, Hevdemann, Moran and Engelman and the following Council Member(s) were absent: Aldermen Holsman and Kent thereby constituting a quorum. Mayor pro tem Heydemann presented -and-read in full ordinance as follows: C 17-� 0