O-909-95 09/25/95VILLAGE OF LEMONT
ORDINANCE NO.
AN ORDINANCE AUTHORIZING THE ISSUANCE OF $1,500,000
GENERAL OBLIGATION ALTERNATE BONDS OF THE VILLAGE OF LEMONT,
ILLINOIS FOR THE PURPOSE OF FINANCING
REDEVELOPMENT PROJECT COSTS
ADOPTED BY THE
PRESIDENT AND BOARD OF TRUSTEES
OF THE VILLAGE OF LEMONT
Published in pamphlet form by
authority of the President and
Board of Trustees of the Village of
Lemont, Counties of Cook, Will, and
DuPage, J linoi this C'L
day of , /J ��� t_� 1995
r-
1995.
ORDINANCE NO.
ORDINANCE AUTHORIZING THE ISSUANCE OF $1,500,000 GENERAL
OBLIGATION ALTERNATE BONDS OF THE VILLAGE OF LEMONT,
ILLINOIS FOR THE . PURPOSE OF FINANCING REDEVELOPMENT
PROJECT COSTS
BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE
VILLAGE OF LEMONT, ILLINOIS, AS FOLLOWS:
Section 1. Authority and Purpose. This ordinance is adopted pursuant to the
Local Government Debt Reform Act, 30 Illinois Compiled Statutes 350, for the
purpose of financing the Village's share of the cost of the Main Street infrastructure
improvements (the "Project ") included in the Downtown Lemont Tax Increment
Redevelopment Project and Plan, dated March, 1991. Said Redevelopment Project
and Redevelopment Plan were approved by Ordinance No. 690 of Village of Lemont,
Illinois, adopted May 28, 1991. The costs of the Project are Redevelopment Project
Costs as defined in the Tax Increment Allocation Redevelopment Act.
Section 2. Authorization of Bonds. To meet part of the $1,500,000 estimated
total cost of the Village's share of the Project, including contingency amounts, the
cost of issuance of the bonds herein authorized and, at the election of the Village,
provision for capitalized interest on bonds and bond reserve funds, all as permitted
under the Local Government Debt Reform Act, the Village is hereby authorized to
issue general obligation bonds of the Village (the "Bonds ") in one or more series and
in the maximum aggregate principal amount of $1,500,000. The Bonds shall
constitute "Alternate Bonds" under Section 15 of the Local Government Debt Reform
Act, 30 Illinois Compiled Statutes 350/15, and are issued in lieu of the issuance of
$1,500,000 principal amount of tax increment revenue bonds of the Village
Adopted this 25th day of September, 1995, by roll call vote as follows:
Ayes:
Nays:
Approved. eptember 25, 1995
Village President
Published: 6c.,) 4 , 1995
(SEAL)
Attest:
CERTIFICATE
I, Charlene M. Smollen, Village Clerk of the Village of Lemont, Illinois, hereby
certify that the foregoing ordinance entitled: "Ordinance Authorizing the Issuance of
$1,500,000 General Obligation Alternate Bonds of the Village of Lemont, Illinois for
the Purpose of Financing Redevelopment Project Costs" is a true copy of an original
ordinance that was duly adopted by the recorded affirmative votes of a majority of the
members of the President and Board of Trustees of the Village at a meeting thereof
that was duly called and held at 7:30 p.m. on September 25, 1995, at Village Hall,
418 Main Street, and at which a quorum was present and acting throughout, and that
said copy has been compared by me with the original ordinance signed by the Village
President on September 25, 1995, and thereafter published in full, together with the
statutory statement required by Section 15 of the Local Government Debt Reform
Act, on Oe , 1995, in the "Lemont Metropolitan," and recorded in the
Ordinance Book of the Village and that it is a correct transcript thereof and of the
whole of said ordinance, and that said ordinance has not been altered, amended,
repealed or revoked, but is in full force and effect.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of
the Village, this day of
(SEAL)
, 1995.
:DOCUMENT #: CHG005A (05779- 00002 -4) 202491 .1;DATE:09 /13/95/TIME:12:15=
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