O-908-95 09/25/95VILLAGE OF LEMONT
ORDINANCE NO. 9 )
AN ORDINANCE AUTHORIZING THE ISSUANCE OF $1,500,000 TAX
INCREMENT REVENUE 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
This GZday of
Published in pamphlet form by
authority of the President and
Board of Trustees of the Village of
Lemont, Counties of Cook, Will, and
DuPage, 1 linois, this Q3 ZZ'
day of 7 1995
1995.
ORDINANCE NO.
ORDINANCE AUTHORIZING THE ISSUANCE OF $1,500,000 TAX
INCREMENT REVENUE 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
Tax Increment Allocation Redevelopment Act, 65 Illinois Compiled Statutes
5/11 -74.4, and 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 tax increment revenue bonds of the Village (the "Bonds ") in one or more series
and in the maximum aggregate principal amount of $1,500,000.
Section 3. Limited Obligations. The Bonds shall be issued pursuant to the Tax
Increment Allocation Redevelopment Act and applicable provisions of the Local
Government Debt Reform Act and shall be limited obligations of the Village payable
solely from the portion of real property taxes collected with respect to taxable real
property in the Downtown Redevelopment Project Area, designated by Ordinance No.
689 of the Village, adopted May 28, 1991, that is paid to the Village Treasurer for
deposit into the "1991 Lemont Downtown Redevelopment Project Area Special Tax
Allocation Fund" pursuant to Section 11- 74.4 -8 of the Tax Increment Allocation
Redevelopment Act.
Section 4. Supplemental Proceedings. The President and Board of Trustees of
the Village may adopt additional ordinances and proceedings supplementing or
amending this ordinance so long as the maximum amount of Bonds herein authorized
is not exceeded and there is no material change in the purpose described in this
ordinance. Such additional ordinances or proceedings shall in all instances become
effective immediately without publication or posting or any further act or requirement.
Section 5. Enactment. The Village Clerk is authorized and directed to publish
this ordinance in pamphlet form and to display copies thereof at a public place in the
Village Hall. This ordinance shall be effective upon its passage by the Board of
Trustees, its approval by the Village President and its publication in pamphlet form.
Adopted this 25th day of September, 1995, by roll call vote as follows:
Ayes:
Nays: 0
pr,v
eptember 25, 1995
illage President
Published in Pamphlet Form: September 26, 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 Tax Increment Revenue 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 pamphlet form on
September 26, 1995, 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 CV5a, day o
(SEAL)
=DOCUMENT #: CHG005A (05779- 00002 -4) 202487 .1;DATE:09 /13/95/TIME:12:13=
J.
1995.
ad.1,4-1z-e
Village Clerk
-4-
NO PETITION CERTIFICATE
I, Charlene M. Smollen, the Village Clerk of the Village of Lemont, Illinois, do
hereby certify that Ordinance No. 906, adopted by the President and Board of Trustees of the
Village on September 25— - tp°t °Y'� titled: "Ordinance Authorizing the Issuance of
m Revenue Bonds of the Village of Lemont, Illinois
Jvements, was published in full, together with the
139-6 of the Illinois Municipal Code, on October 5,
spaper published and of general circulation in the
il.
f
u3
ance No. 907, adopted by said President and Board
ntitled: "Ordinance Authorizing the Issuance of
-, fonds of the Village of Lemont, Illinois for the
'age System Capital Improvements," was published
required by Section 15 of the Local Government
e "Lemont Metropolitan."
1
l
4 nce No. 909, adopted by said President and Board
-, r ,titled: "Ordinance Authorizing the Issuance of
s, 'ends of the Village of Lemont, Illinois for the
u. _.- _ 1 2 - I Costs," was published in full, together with the
c. - meat .Debi .deform .Act, on
u
1 2 II i -4.1
v -: led in my office or presented
j 1 s_ rks and sewerage system of
a a • g ' in said Ordinance No. 906
or objecting to the issuance
xl in my office or presented
under the provisions of the
capital improvements, as
►f the Village; or otherwise
'd Ordinance No. 907.
in my office or presented
nder the provisions of the
ject costs, as provided in
or otherwise protesting or
No. 909.
and and affixed the seal of
II: mg
lot pi
lip art. t
it.
DOCUMENT A� CHG3005A (05779- 00003 -2) 214446 .1;DATE:12 /04 /95/TIME:10:30.:
KATTEN MUCHIN & ZAVIS
IRVINE, CA
LOS ANGELES, CA
NEW YORK, NY
WASHINGTON, D.C.
Ms. Charlene Smollen
Village Clerk
Village of Lemont
418 Main Street
Lemont, Illinois 60439
525 WEST MONROE STREET • SUITE 1600
CHICAGO. ILLINOIS 60661 -3693
December 4, 1995
Re: VILLAGE OF LEMONT, ILLINOIS
Water Project and TIF Project
Dear Ms. Smollen:
TELEPHONE
(312) 902 -5200
TELECOPIER
(312) 902-1061
WRITER'S DIRECT DIAL NUMBER
(312) 902 -5418
Ordinances Nos. 906, 907 and 909, were published in the Lemont Metropolitan
on October 5, 1995. The 30 day back -door referendum period has expired with respect to
each of the Ordinances. We understand that no petition protesting the enactment of the
Ordinances was filed. Accordingly, it is now appropriate for you to execute the enclosed No
Petition Certificate.
We have enclosed three copies of the Certificate, please retain one copy for
your files and return the other copies for inclusion in our files.
LG /be
Enclosure
cc: Mr. Steven Jones
Very truly yours,
A LAW PARTNERSHIP INCLUDING PROFESSIONAL CORPORATIONS