R-373-95 09/11/95RESOLUTION t'.
RESOLUTION OF THE VILLAGE OF LEMONT, ILLINOIS
DECLARING ITS OFFICIAL INTENT TO REIMBURSE CERTAIN
CAPITAL EXPENDITURES FROM THE PROCEEDS OF FUTURE DEBT ISSUES
BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE
VILLAGE OF LEMONT, ILLINOIS, COOK, WILL, AND DU PAGE COUNTIES,
H.LINOIS, AS FOLLOWS:
Section 1. The purpose of this resolution is to satisfy the "Official Intent
Requirement" of Treasury Regulations Section 1.150 -2.
Section 2. The Village of Lemont, Illinois (the "Village ") has determined to
undertake improvements to the combined waterworks and sewerage system of the Village
consisting of the construction of water well number 5, including a well house, ion exchange
softener, reservoir and booster station, the construction of related water mains and sanitary
sewer lines and the installation of a SCADA supervisory control system.
Section 3. The Village reasonably expects to be reimbursed for such expenditures
with proceeds of its debt. The maximum principal amount of debt expected to be issued
for the reimbursement of such expenditures is $1,210,000.
Section 4. This declaration of official intent is consistent with the budgetary and
financial circumstances of the Village.
Section 5. A copy of this resolution shall be filed immediately in the office of the
Village Clerk and shall be made available for public inspection in the manner required by
law.
Section 6. This resolution shall be operative and effective upon its passage.
PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF
THE y LEMONT, 0 ! OF COOK, WILL, AND DU PAGE, ILLINOIS,
on thisOL1 // f. day o &%., , 1995.
Barbara Buschman
Alice Chin
Keith Latz
Connie Markiewicz
Richard Rimbo
Ralph Schobert
Approved by me this
Attest:
AYES NAYS PASSED ABSENT
xe vri�rdf'/G �-
HARLENE SMOLLEN, Village Clerk
N, Village Clerk
1995.
ASNESKI, Village President
WATER SYSTEM IMPROVEMENT
VILLAGE OF LEMONT
8/24/95
PRE -BOND EXPENSES AMOUNT
Design & Engineering $360,000
Well Drilling 350,000
Water & Sewer Extension 300,000
Contingencies (20 %) 200,000
TOTAL PRE -BOND EXPENSES $1,210,000
POST -BOND EXPENSES
Well House & Ion Exchange Softener $1,000,000
Reservoir & Booster Station 800,000
SCADA Supervisory Controls 150,000
Contingencies (20 %) 390,000
TOTAL POST -BOND EXPENSES $2,340,000