R-66-99 Approving Settlement Agreement Between Bernardi Securities and The Village of Lemont Related to Alternative Revenue Bond Issue on November 1, 1994RESOLUTION
RESOLUTION APPROVING SETTLEMENT AGREEMENT
BETWEEN BERNARDI SECURITIES AND THE VILLAGE OF
LEMONT RELATED TO ALTERNATIVE REVENUE BOND
ISSUE OF NOVEMBER 1,1994
WHEREAS, the Village of Lemont utilized Bernardi Securities as underwriter for a
$790,000 alternate revenue bond issue refinancing in 1994; and
WHEREAS, during the process of undertaking this debt re- financing, Bernardi Securities
was required to undertake an unanticipated investment and subsequently realized a gain of
$3,546.56; and
WHEREAS, to resolve any claims or disputes that might arise as a result of the escrow
securities, the Village of Lemont and Bernardi Securities have agreed that the stated profit will be
provided to the Village of Lemont.
NOW THEREFORE, BE IT RESOLVED THAT the settlement agreement attached is
hereby approved.
PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF
THE VILLAGE OF LEMONT, COOK, WILL AND DU PAGE COUNTIES, ILLINOIS, on
this 13 thday of _Seeptember
_ , 1999.
John Benik ASS NAYS PASSED FD ABSENT
Debby Blatzer
Keith Latz
Connie Markiewicz
Rick Rimbo
Mary Studebaker
CHARLENE SMOLLEN, Village Clerk
Approved by me this 13th day of September , '99
Attest:
C ' ARLENE SMOLLEN, Village Clerk
pproved as t• form
,`IV �.t JP:sd , / /
Village Attorney
Date: 9 7
H ' '1' A. KW-
WASNESKI, Village President