HomeMy WebLinkAboutORDINANCES-1992-066-O-92ORDINANCE NUMBER 66-0-92
ORDINANCE accepting Order for sale of $3,600,000 Water
Revenue Bonds, Series 1992. of the City of Evanston, Cook
County, Illinois.
WHEREAS the City of Evanston, Cook County, Illinois, (the "City") is authorized to
issue $3,600,000 Water Revenue Bonds, Series 1992 (the "Bonds"), in accordance with the
provisions of Ordinance Number 39-0-92 heretofore passed by the City Council (the "City
Council") of the City on May 18, 1992, which ordinance (the "Bond Ordinance") is now in
full force and effect; and
WHEREAS the City has advertised for bids for the Bonds and heretofore provided for
the sale thereof pursuant to a Bond Order (the "Order"), duly executed by the City Manager
and City Finance Director and Comptroller, a copy of which has been duly filed with the
City Clerk and is attached hereto and incorporated herein by this reference; and
WHEREAS it is necessary that the City Council be advised of the sale by the Order and
receive the, same in its records, and it is deemed necessary, advisable and in the best interests
of the City to confirm the actions taken in the Order;
NOW THEREFORE Be It Ordained by the City Council of the City of Evanston, Cook
• County, Illinois, as follows:
Section 1. Confirm Order. The Order is approved and confirmed and all the
details thereof accepted.
Section 2. Conform Documents. The Bond Ordinance is hereby conformed,
amended as and to the extent necessary, and supplemented to conform to the Order and this
Ordinance; and such other documents as may be necessary or advisable to the issue of the
Bonds, as prepared by Bond Counsel, are hereby authorized and shall conform to the Bond
Ordinance as conformed by the Order and this Ordinance.
•37121.01.02
42974 742e�4rrvV
M
Section 3. Superseder and Effective Date. This Ordinance shall supersede all
ordinances, resolutions or other proceedings heretofore taken in conflict with the terms
hereof, and this Ordinance shall be in full force and effect immediately upon its passage.
Appr ved: July 1992.
Mayor
Ayes: Aldermen Paden, Drummer, Brady, Esch, Heydemann, Washington, Kent,
Moran, Nelson, Wollin, Engelman, Rainey, Feldman, Warshaw, Fiske
all Aewruau.
Nays: None
Absent: Aldermen Davis and Lanyon
Recorded In City Records: July 2A, 1992.
ATTEST:
City Clerk
•
•
•
-2-
STATE OF ILLINOIS )
) SS
COUNTY OF COOK )
BOND ORDER
We, Eric A. Anderson and Robert A. Shonk, do hereby certify that we are,
respectively, the City Manager and the Finance Director and Comptroller of the City of
Evanston, Cook County, Illinois (the "City "); and as such officers, we have reviewed the
books, records, minutes and files of the City, and from such review and based on our
authority, we do further certify as follows:
1. On May 18, 1992, the City Council adopted Ordinance Number 39-0-92 of the
City entitled:
a
AN ORDINANCE authorizing and providing for the issue of
$3,600,000 Water Revenue Bonds, Series 1992, of the City of
• Evanston, Cook County, Illinois, for the purpose of defraying the
cost of improving and extending the present waterworks system of
said City, prescribing all the details of said bonds, and providing
for the collection, segregation and distribution of the revenue of
the waterworks system of said City.
(the "Bond Ordinance")
2. The Bond Ordinance, in accordance with delegated limits, authorizes us to estab-
lish a final maturity and rate schedule for the Bonds (as authorized and defined in
the Bond Ordinance).
3. The Bonds have been sold at public sale to Clayton Brown & Associates, Inc.,
Chicago, Illinois, the Underwriter, at a purchase price of $3,564,000, being not
less than 98% of the par value of the Bonds.
0
4. The final schedule for the Bonds is as follows:
Principal Amount: $3,600,000
Dated: July 1, 1992.
Due: Serially, on January 1 of the years, in the amounts, and bearing interest at
the rates percent per annum as follows:
YEAR
AMOUNT ($)
RATE (%)
1995
120,000
15.00
1996
125,000
15.00
1997
135,0(X)
15.00
1998
140,000
15.00
1999
145,0(X)
14.75
2000
155,000
5.50
2001
165,000
5.50
2002
175,0(X)
5.50
2003
185,000
5.50 •
2004
195,000
5.50
2005
205,000
5.50
2006
220,000
5.50
2007
230,000
5.50
2008
245,000
5.50
2009
265,000
5.50
2010
280,000
5.50
2011
300,000
5.50
2012
315,000
5.50
17-�
-2-
C]
5. Accordingly, the principal of and interest on the Bonds are as follows:
FOR THE FISCAL YEAR
1992
$130,406.25
1993
260,812.50
1994
380,812.50
1995
367,812.50
1996
359,062.50
1997
343,812.50
1998
327,812.50
1999
316,425.00
2000
317,900.00
2001
318;825.00
2002
319,200.00
2003
319,025.00
2004
318,300.00
2005
322,025.00
2006
319,925.00
2007
322,275.00
2008
328,800.00
2009
329,225.00
2010
333,825.00
2011
332,325.00
6. All other terms are as provided in the Bond Ordinance.
f
7. Please be further advised that we find and determine that no person holding any
office of the City either by election or appointment, is in any manner interested, either
directly or indirectly, in his own name or in the name of any other person, associate, trust
or corporation, in the Bond Purchase Contract with the Underwriter as such terms are
defined in the Bond Ordinance.
8. Finally, please be advised that this Bond Order shall be entered into the records
of the City and made available to all Aldermen.
-3-
IN WTTNEss WHEREOF we have hereunto affixed our official signatures this 8th day
of June 1992.
s/Eric A. Anderson
Eric A. Anderson
City Manager
r
slRobert A. Shonk
Robert A. Shonk
Finance Director and Comptroller
•
•
•
-4-