R-65-01 Expressing official intent regarding certain capital expeditures to be reinbursed from proceeds of solid waste disposal revenue bondsRESOLUTION A),65.()
RESOLUTION EXPRESSING OFFICIAL INTENT REGARDING
CERTAIN CAPITAL EXPENDITURES TO BE REIMBURSED
FROM PROCEEDS OF SOLID WASTE DISPOSAL REVENUE BONDS
WHEREAS, PDV Midwest Refinery LLC (the "Company ") has developed a description of
capital projects (the "Projects ") described in Exhibit A hereto; and
WHEREAS, all or a portion of the expenditures relating to the Projects (the "Expenditures ")
(I) have been paid within the sixty days prior to the passage of this Resolution or (ii) will be paid on
or after the passage of this Resolution; and
WHEREAS, the Village of Lemont, Illinois (the "Issuer ") reasonably expects (based upon
information supplied by the Company upon which it is reasonable and prudent to rely) to reimburse
the Company or one of its affiliates for the Expenditures with the proceeds of solid waste disposal
revenue bonds (the "Bonds ") issued under the Industrial Project Revenue Bond Act of the State of
Illinois, 65 ILCS 5.11 -74 -1 through 5/11- 74 -14, as amended, or other Illinois legislation authorizing
the issuance of revenue bonds for projects such as the Projects.
NOW THEREFORE, BE IT AND IT IS HEREBY RESOLVED by the President and
Board of Trustees of the Village of Lemont as follows:
Section 1. The Issuer reasonably expects (based upon information supplied by the
company upon which it is reasonable and prudent to rely) to reimburse the Expenditures with
proceeds of the Bonds.
Section 2. Based on information supplied by the Company, the maximum principal
amount of the Bonds expected to be issued for the Projects is $30,000,000.
Section 3. All actions of the officers, agents and employees of the Issuer that are in
conformity with the purposes and intent of this Resolution whether taken before or after the adoption
hereof, are hereby ratified, confirmed and adopted
Section 4. This Resolution shall be in full force and effect immediately upon its
adoption.
Adopted: November 26, 2001.
Upon roll call vote:
AYES:
NAYS: 9441
ABSENT:
Approved: November 26 , 2001
Attest:
CHARLENE SMOLLEN, Village Clerk
PIAZZA, illage