R-103-98 Amendment to Declaration of Official IntentRESOLUTION NO. R- 103 -98
AMENDMENT TO DECLARATION OF OFFICIAL INTENT
BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE
OF LEMONT, ILLINOIS, as follows:
Section 1. Findings. It is found and declared as follows:
(a) the Village of Lemont, Illinois (the "Village ") proposes to finance the costs of
certain capital improvements in respect of the Lemont Senior Housing project, to be located in the
Downtown Lemont Redevelopment Area through the issuance of notto exceed $2,000,000 of revenue
bonds of the Village;
(b) pursuant to Resolution No. R- 89 -98, adopted by the President and Board of
Trustees on September 28, 1998, the Village declared its official intent under Section 1.150 -2 of the
Treasury Regulations under the Internal Revenue Code of 1 986 so to issue its bonds; and
(c) it is necessary and in the best interests to amend that Declaration of Official
Intent to provide that costs of land acquisition may also be financed with the proceeds of such bonds.
Section 2. Official Intent. The Village amends and restates its official intent to
issue not to exceed $2,000,000 of its tax -exempt revenue bonds, in one or more series, to finance the
costs of land acquisition and infrastructure improvements in respect of the Lemont Senior Housing
project which are "eligible redevelopment project costs," as set forth in more detail in Exhibit A
attached to and made part of this Resolution including also, without limitation, related expenses, costs
of issuance, capitalized interest and reserves and to use proceeds of those bonds to reimburse such
expenditures which have been or will be made for that acquisition, construction and equipping, to the
extent allowed by the Internal Revenue Code of 1986 and related regulations.
Section 3. Implementation. This Resolution does not constitute any contractual
or other obligation of the Village to finance the costs described in this Resolution_ issuance of the
bonds shall be approved by one or more ordinances of the Village Council of the Village.
AYES:
Section 4. Effectiveness. This Resolution is effective upon its adoption.
Adopted December 21, 1998.
NAYS:
ABSENT: 4211-di-t/d-
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Approved December 21
ATTEST:
Village Clerk
APPROVED AS TO FORM:
llage Attorney
Date: ( ')"' /f 3i^ c
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EXHIBIT A
Land Acquisition (Property Assembly)
Concrete service Walks
Storm Drains
Road Works
Streets & Parking
Site Lighting
Earthwork
Watermains
Sanitary Sewers
Utilities
Fencing
Landscaping
Irrigation
Architect's and TIF Consultant Fees
Legal Fees
Appraisal Fees
Marketing Fees
Environmental Studies
Consultants' Fees
Engineering Fees
Bonds and Permits
163493.1 121798 1230
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