HomeMy WebLinkAboutRESOLUTIONS-1992-022-R-923-18-92
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22-R-92
A RESOLUTION
In Support of an Application by the children's
Home and Aid Society of Illinois to the
Illinois Development Finance Authority to Issue Bonds
WHEREAS, the City Council of the City of Evanston
recognizes the need to provide quality child care in the
Chicago Metropolitan area; and
WHEREAS, the City Council of the City of Evanston
recognizes the valuable services provided in Evanston by the
Children's Home & Aid Society of Illinois in Evanston; and
WHEREAS, the City Council has considered and approved
a Planned Development for the redevelopment of the Children Home
and Aid Society of Illinois property at 826 Ridge Avenue,
Evanston; and
• WHEREAS, the Children's Home & Aid Society of Illinois,
a not -for -profit charitable corporation has applied to the
Illinois Development Finance Authority as borrower on a loan to
be made from the proceeds of issuance of 501(C)(3) bonds in the
amount not to exceed $4,200,000.; and
WHEREAS, the proceeds of the bonds will be used for
demolition of an existing structure, the reconstruction of a
63,000 square foot facility and, the purchase of equipment and
furnishings,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF EVANSTON, COOK COUNTY, ILLINOIS:
SECTION 1: That the City of Evanston supports the
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22-R-92
• Children's Home and Aid Society's efforts to
secure a loan to demolish, reconstruct and furnish a new
facility for childcare in Evanston.
SECTION 4: This Resolution shall be in full force
and effect from and after the date of
its passage and approval in the manner provided by law.
ATTEST:
City Clerk
Adopted: `�`'/�/iL/�f '3
, 1992
(/ Mayor