O-88-05� I
ORDINANCE NO. 0 -88 -05
AN ORDINANCE AUTHORIZING EXECUTION OF AN INTERGOVERN-
MENTAL AGREEMENT PROVIDING FOR THE PAYMENT OF A PROPOR-
TIONATE SHARE OF THE DEBT SERVICE AND RELATED COSTS OF
THE BONDS ISSUED TO PROVIDE FUNDING FOR A JOINT SELF -
INSURANCE RESERVE FUND FOR THE MEMBERS OF THE HIGH -LEVEL
EXCESS LIABILITY POOL (HELP).
WHEREAS, Section 10 of Article VII of the Illinois
Constitution of 1970 authorizes units of local government to
contract or otherwise associate among themselves in any manner
not prohibited by law or by ordinance; and
WHEREAS, Chapter 127, Section 741, et se q., Illinois
Revised Statutes, entitled the "Intergovernmental Cooperation
Act," authorizes public agencies to exercise any power or powers,
privileges or authority which may be exercised by such public
agency individually to be exercised and enjoyed jointly with any
other public agency in the State of Illinois; and
WHEREAS, Section 746 of the Intergovernmental
Cooperation Act, in furtherance of the provisions contained
within Article VII, Section 10 of the Constitution, authorizes an
intergovernmental contract which, among other undertakings,
allows public agencies to jointly self- insure and authorizes each
public agency member of the contract to utilize its funds to
protect, wholly or partially, itself or any public agency member
of the contract against liability or loss in the designated
insurable area; and
WHEREAS, the Local Governmental and Governmental
Employees Tort Immunity Act, Chapter 85, Sections 1 -101 through
9 -107, of the Illinois Revised Statutes (the "Act ") authorizes
multi -year contracts for joint self- insurance and allows self -
insured governments to assert a range of immunities; and
WHEREAS, pursuant to the above laws, a number of
Illinois municipalities (the "Members ") have created the High -
Level Excess Liability Pool (the "Agency ") as a joint self -
insurance pool for the purpose of seeking the prevention or
lessening of liability claims for injuries to persons or property
or claims for errors and omissions made against the Members and
other parties. included within the scope of coverage of the
Agency, which scope of coverage may be amended from time to time;
and
ti
ORDINANCE NO. 0 -88 -05
WHEREAS, the Agency was established as of April 1, 1987
under and operates pursuant to an agreement entitled "Contract
and By -Laws -- High -Level Excess Liability Pool" (the "Contract
and By- Laws ".) and a "Memorandum of Coverage," bearing the
retroactive date of April 1, 1987, as amended from time to time
(the "Memorandum of Coverage "); and
WHEREAS, the Agency and the Members have determined to
increase the amount of coverage specified in Article VIII of the
Contract and By -Laws, to be backed by a joint self- insurance
reserve fund initially financed from proceeds of bonds to be
issued by the Village of Elk Grove Village, Illinois (the "Elk
Grove Village "), as initial host member; and
WHEREAS, Elk Grove Village has issued $5,000,000
General Obligation Bonds, Series 1987 (the "Initial Bonds ") to
provide the initial funding for such joint self- insurance reserve
fund; and
WHEREAS, it is possible from time to time that the
Agency, one or more of the Members, or some other entity may
issue additional bonds to replenish or provide further funding
for the joint self- insurance reserve fund; and
WHEREAS, the additional bonds-and the initial bonds are
herein collectively referred to as the "Bonds "; and
WHEREAS, this municipality has been asked to enter into
an Intergovernmental Agreement Providing for the Payment of Debt
Service (the "Agreement ") dated as of March 1, 1988, among the
Agency, Elk Grove Village and the other Members of the Agency;
and
WHEREAS, the purpose of the Agreement is to provide in
more detail the manner in which each Member shall be obligated to
pay its proportionate share of the retirement or repayment of the
Bonds and the interest thereon; and
WHEREAS, the Corporate Authorities of this municipality
have further determined that the funding of the joint self -
insurance reserve fund provided for under the Agreement is
essential to the preservation and fostering of the health, safety
and property'rights of the citizens of this municipality; and
WHEREAS, the cost of funding such reserve fund has been
determined by Corporate Authorities of this municipality to be
more than offset by the anticipated benefits and economies to be
realized by the pooling of risks and losses pursuant to the
Contract and By -Laws and the Agreement; and
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ORDINANCE NO. 0 -88 -05 '
WHEREAS, Sections 9 -105 and 9 -107 of the Act authorize
the creation of reasonable reserves which may be utilized by a
joint self - insurance entity; and
WHEREAS, it is a matter for the Corporate Authorities
of this municipality to determine the amount of reasonable
reserves which each Member should contribute to provide for
proper joint self- insurance coverage; and
WHEREAS, the Corporate Authorities of this municipality
have heretofore determined and do hereby confirm that, in view of
the foregoing facts and circumstances, the amounts to be required
hereunder are reasonable and advantageous and to the public
benefit of the citizens of this municipality; and
WHEREAS, the Corporate Authorities have reviewed the
Agreement and find that the repayment of the Bonds and the
obligations imposed upon this municipality under the Agreement
are in accordance with the philosophy and public policy
objectives of this municipality; and
WHEREAS, the Corporate Authorities of this municipality
find that it is in the best interests of its citizens that it
execute and deliver the Agreement.
NOW, THEREFORE, BE IT ORDAINED BY THE Mayor. and Board of Trustees.
OF THE Village OF Deerfi el d , Lake & Coo COUNTY,
ILLINOIS, as follows:
SECTION 1. That the form, terms and provisions of the
Intergovernmental Agreement Providing for the Payment of Debt
Service in substantially the form submitted to this meeting are
hereby approved, and the [President of the Board of Trustees/
Mayor] is hereby authorized and directed to execute and deliver
said Agreement with such changes therein as shall be approved by
the [President of the Board of Trustees /Mayor], the execution of
such document by the [President of the Board of Trustees /Mayor]
to constitute conclusive evidence of such approval, and the
[Village /City] Clerk is hereby authorized and directed to affix
to said Agreement the-official seal of this municipality.
SECTION 2. That the Corporate Authorities of this
municipality hereby ratify and confirm and agree to be bound by
the provisions of the Contract and By -Laws.
SECTION 3. That the [President of the Board of
Trustees/ Mayor] and [Village /City] Clerk are hereby empowered
and directed to execute and deliver all documents and other
instruments necessary to further the intent and purpose of this
Ordinance.
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SECTION 4.' That it is the intention of the Corporate
Authorities of this municipality that this Ordinance shall bind
future members of the Corporate Authorities of this municipality
and shall remain in effect for the full term provided therein.
It is further understood that the Members shall have no right to
terminate, cancel or rescind the Intergovernmental Agreement
Providing for the Payment of Debt Service, no right to withhold
from the Agency payments due or to become due under said
Agreement, no right to recover from the Agency amounts previously
paid under said Agreement unless paid in error or contrary to the
provisions of said Agreement or law, no right of reduction or
set -off against the amounts due or to become due under said
Agreement, to the Agency, and no lien on any amounts in any fund
established by the Agency for any reason or on account of the
existence or occurrence of any event, condition or contingency,
whether foreseen or unforeseen or foreseeable or unforeseeable by
the Members or the Agency or any other person; it being the
intent of said Agreement that the Members shall be absolutely and
unconditionally obligated to make all payments thereunder.
SECTION 5. That this Ordinance shall be in full force
and effect from and after its passage and approval as provided by
law.
PASSED
this 1st
day of February
, 1988.
AYES:
Marovitz,
Marty, Rosenthal;
Seidman, Swanson, York (6)
NAYS: None (0)
ABSENT: None (0)
APPROVED this Tst day of February , 1988.
ATTEST:
[Village City] Clerk (Deputy)
—4—
,94 a & A ro_11�
esident of t Board of
Trustees /Mayor]
INTERGOVERNMENTAL AGREEMENT PROVIDING FOR
THE PAYMENT OF DEBT SERVICE
Dated as of March 1, 1988
among the
HIGH -LEVEL EXCESS LIABILITY POOL
the Agency,
VILLAGE OF ELK GROVE VILLAGE, ILLINOIS
the Initial Host Member
and
VILLAGE OF ELK GROVE VILLAGE, VILLAGE OF HOFFMAN ESTATES, CITY OF
DES PLAINES, VILLAGE OF GLENVIEW, VILLAGE OF ARLINGTON HEIGHTS,
VILLAGE OF SKOKIE, VILLAGE OF STREAMWOOD, VILLAGE OF WINNETKA,
CITY OF PARK RIDGE, VILLAGE OF MOUNT PROSPECT, VILLAGE OF
LINCOLNSHIRE, VILLAGE OF OAK LAWN, VILLAGE OF DEERFIELD, CITY OF
WHEATON AND VILLAGE OF CHICAGO RIDGE; all of the STATE OF
ILLINOIS
the Members
TABLE OF CONTENTS
Page
ADDITIONAL BONDS ............ ............................... 7
ARTICLE V
REDEMPTION OR DEFEASANCE .... ............................... 8
ARTICLE VI
NEW MEMBERS; EXPULSION
SECTION
6.1.
ARTICLE I
8
SECTION
DEFINITIONS AND EXHIBITS
SECTION
1.1.
Definitions and Rules of Construction........ 3
SECTION
1.2.
Exhibit ........ ................::............. 4
ARTICLE II
INITIAL
FUNDING
OF JOINT SELF - INSURANCE FUND ............... 5
'
10
ARTICLE III
7.2.
Member's Obligation Unconditional............
OBLIGATIONS OF MEMBERS
SECTION
3.1.
Agreement to Pay ............................. 5
SECTION
3.2.
Bills and Due Date ........................... 6
SECTION
3.3.
Calculation of Amount ........................ 6
SECTION
3.4.
Provision for Payment ........................ 6
SECTION
3.5.
Default Shares .............................. 6
SECTION3.6.
Disputed Payments ............................ 6
SECTION
3.7.
Interest on Overdue Payments .................. 7
ARTICLE IV
ADDITIONAL BONDS ............ ............................... 7
ARTICLE V
REDEMPTION OR DEFEASANCE .... ............................... 8
ARTICLE VI
NEW MEMBERS; EXPULSION
SECTION
6.1.
New Members.... ............................
8
SECTION
6.2.
Expulsion of Members .........................
8
ARTICLE VII
,UNCONDITIONAL OBLIGATION
SECTION
7.1.
Absolute and Irrevocable Conditions..........
10
SECTION
7.2.
Member's Obligation Unconditional............
10
ARTICLE VIII
THIS AGREEMENT TO GOVERN; ASSIGNMENT
SECTION 8.1. This Agreement to Govern ..................... 10
SECTION 8.2. Assignment .... ............................... 11
ARTICLE IX
MISCELLANEOUS
SECTION
9.1.
Notices ....... ...............................
11
SECTION
9.2.
Binding Effect ...............................
11
SECTION
9.3.
Severability .. ...............................
11
SECTION
9.4.
Further Assurances and Corrective
Instruments . ...............................
11
SECTION
9.5.
Execution in Counterparts ....................
11
SECTION
9.6.
Applicable Law ...............................
12
SECTION9.7.
Term .......... ...............................
12
Exhibit A - Notice Addresses
INTERGOVERNMENTAL AGREEMENT PROVIDING FOR
THE PAYMENT OF DEBT SERVICE
THIS INTERGOVERNMENTAL AGREEMENT PROVIDING FOR THE
PAYMENT OF DEBT. SERVICE, dated as of March 1, 1988, by and among
the HIGH -LEVEL EXCESS LIABILITY POOL, a cooperative agency
voluntarily established by contracting units of local governments
and similar governmental entities as defined in the Illinois
Constitution of 1970 pursuant to Article VII, Section 10 of the
1970 Constitution of the State of Illinois, Chapter 85, Sections
1 -101 through 9 -107, and Chapter 127, Section 746 of the Illinois
Revised Statutes (the "Agency "), the VILLAGE OF ELK GROVE
VILLAGE, ILLINOIS, as initial host member ( "Elk Grove Village ")
and VILLAGE OF ELK GROVE VILLAGE, VILLAGE OF HOFFMAN ESTATES,
CITY OF DES PLAINES, VILLAGE OF GLENVIEW, VILLAGE OF ARLINGTON
HEIGHTS, VILLAGE OF SKOKIE, VILLAGE OF STREAMWOOD, VILLAGE OF
WINNETKA, CITY OF PARK RIDGE, VILLAGE OF MOUNT PROSPECT, VILLAGE
OF LINCOLNSHIRE, VILLAGE OF OAK LAWN, VILLAGE OF DEERFIELD, CITY
OF WHEATON AND VILLAGE OF CHICAGO RIDGE, each a municipality duly
organized and existing under the Constitution and laws of the
State of Illinois (each a "Member" and collectively, the
"Members ");
W I T N E S S E T H:
WHEREAS, Section 10 of Article VII of the Illinois
Constitution of 1970 authorizes units of local government to
contract or otherwise associate among themselves in any manner
not prohibited by law or by ordinance; and
WHEREAS, Chapter 127, Section 741, et sect., Illinois
Revised Statutes, entitled the "Intergovernmental Cooperation
Act," authorizes public agencies to exercise any power or powers,
privileges or authority which may be exercised by such public
agency individually to be exercised and enjoyed jointly with any
other public agency in the State of Illinois; and
WHEREAS, Section 746 of the Intergovernmental
Cooperation Act, in furtherance of the provisions contained
within Article VII, Section 10 of the Constitution, authorizes an
intergovernmental contract which, among other undertakings,
allows public agencies to jointly self- insure and authorizes each
public agency member of the contract to utilize its funds to
protect, wholly or partially, itself or any public agency member
of the contract against liability or loss in the designated
insurable area; and
WHEREAS, the Local Governmental and Governmental
Employees Tort Immunity Act, Chapter 85, Sections 1 -101 through
9 -107, of the Illinois Revised Statutes (the "Act ") authorizes
multi -year contracts for joint Self- Insurance and allows self -
insured governments to assert a range of immunities; and
WHEREAS, pursuant to the above laws, the Members have
created the Agency as a joint Self- Insurance pool for the purpose
of seeking. the prevention or lessening of liability claims for
injuries to persons or property or claims for errors and
omissions made against the Members and other parties included
within the scope of coverage of the Agency, which scope of
coverage may be amended from time to time; and
WHEREAS, the Agency was established as of April 1, 1987
under and operates pursuant to an agreement entitled "Contract
and By -Laws -- High -Level Excess Liability Pool" (the "Contract
and By- Laws ") and a "Memorandum of Coverage," bearing the
retroactive date of April 1, 1987, as amended from time to time
(the "Memorandum of Coverage "); and
WHEREAS, the Agency and the Members have determined to
increase the amount of coverage specified in Article VIII of the
Contract and By -Laws, to be backed by a joint Self- Insurance
reserve fund initially financed from proceeds of bonds issued by
Elk Grove Village, as initial host member; and
WHEREAS, Elk Grove Village has issued $5,000,000
General Obligation Bonds, Series 1987 (the "Initial Bonds ") to
provide the initial funding for such joint Self- Insurance reserve
fund; and
WHEREAS, it is possible from time to time that. the
Agency, one or more of the Members, or some other entity may
issue additional bonds to replenish or provide further funding
for the joint Self- Insurance reserve fund; and
WHEREAS, the additional bonds and the initial bonds are
herein - collectively referred tows the "Bonds "; and
WHEREAS, the purpose of this Agreement is to provide in
more detail the manner in which each Member shall be obligated to
pay its proportionate share of the retirement or repayment of the
Bonds and the interest thereon; and
WHEREAS, the Board of Directors of the Agency has
authorized the execution of this Agreement; and
WHEREAS, the governing body of each Member has
authorized the execution of this Agreement; and
WHEREAS, the Members have further determined that the
funding of 'the joint Self - Insurance reserve fund provided for
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under this Agreement is essential to the preservation and
fostering of the health, safety and property rights of the
citizens of each Member; and
WHEREAS, the cost of funding the reserve fund has been
determined by each Member to be more than offset by the
anticipated benefits and economies to be realized by the pooling
of risks and losses pursuant to the Contract and By -Laws and this
Agreement; and
WHEREAS, Sections 9 -105 and 9 -107 of the Act authorize
the creation of reasonable reserves which may be utilized by a
joint Self- Insurance entity; and
WHEREAS, it is a matter for the governing body of each
Member to determine the amount of reasonable reserves which each
Member should contribute to provide for proper joint Self -
Insurance coverage; and
WHEREAS, each Member has heretofore determined and does
hereby confirm that, in view of the foregoing facts and
circumstances, the amounts to be required hereunder are
reasonable and advantageous and to the public benefit of the
citizens of such Member;
NOW, THEREFORE, in consideration of the above premises
and of the mutual covenants hereinafter contained and for other
good and valuable consideration, the parties hereto agree as
follows:
ARTICLE I
DEFINITIONS AND EXHIBITS
SECTION 1.1. Definitions and Rules of Construction.
Unless the context otherwise requires, the capitalized terms used
herein shall, for all purposes of this Agreement, have the
meanings specified in the Contract and By -Laws; and the
additional terms defined in this Section shall, for all purposes
of this Agreement, have the meanings herein specified. Unless
the context otherwise indicates, words importing the singular
number shall include the plural number and vice versa. The terms
"hereby," "hereof," "hereto," "herein," "hereunder" and any
similar terms, as used in this Agreement, refer to this Agreement
as a whole.
"Act" means the Local Governmental and Governmental
Employees Tort Immunity Act, Chapter 85, Sections 1 -101 through
9 -107, of the Illinois Revised Statutes..
"Additional Bonds" means one or more series of
additional bonds, notes or other evidences of indebtedness
authorized to be issued subsequent to the issuance of the Initial
Bonds by the Agency, various Host Members or another entity
selected by the Agency, to replenish or provide additional
funding for the joint Self- Insurance reserve fund.
"Aggregate Debt Service Amounts" shall have the meaning
provided in Section 3.1 hereof.
"Bonds" means the Initial Bonds and all issues of
Additional Bonds.
"Bond Ordinance" means a bond ordinance under which a
Host Member will authorize the issuance of Bonds.
"Contract and By- Laws" means the Contract and By -Laws
-- High -Level Excess Liability Pool, as amended from time to
time, among the Agency and the Members, establishing the Agency
as of April 1, 1987.
"Debt Service Payment" shall have the meaning provided
in Section 341 hereof.
"Host Member" means any Member selected by the Agency
to issue Bonds or otherwise incur indebtedness for or- on behalf
of the Agency under this Agreement.
"Initial Bonds" means the $5,000,000 General Obligation
Bonds, Series 1987, of the Initial Host Member.
"Initial Host Member" means the Village of Elk Grove
Village, Illinois, as issuer of the Initial Bonds.
"Issuer" means any issuer- of Bonds, including the
Initial Host Member, the Agency, a Host Member or any other
entity selected by the Agency.
"Memorandum of Coverage" means the memorandum bearing
the retroactive date of April 1, 1987, as amended from time to
time, setting forth the scope of coverage of the insurance
provided by the Agency.
SECTION 1.2. Exhibit. The following Exhibit is
attached to, and by reference made a part of, this Agreement:
Exhibit A: Notice Addresses.
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'ARTICLE II
INITIAL FUNDING OF JOINT SELF - INSURANCE FUND
The amount of coverage provided each Member for losses
in excess of $1,000,000 per occurrence is set forth in Article
VIII of the Contract and By -Laws and in the Memorandum of
Coverage. The Board of Di.rectors of the Agency has decided to
increase the amount. of 'coverage provided, as may be done from
time to time in accordance with the procedures of Article
V(h)(vi) of the Contract and By -Laws. The parties hereto approve
such increase, and the Initial Host Member has agreed to fund, a
joint Self- Insurance reserve fund from the proceeds of the
Initial Bonds. By its execution and delivery of this Agreement,
the Initial Host Member agrees that it will convey to the Agency
all net proceeds of the Initial Bonds, subject to the terms and
conditions of the Escrow Agreement, dated December 30, 1987 (the
"Escrow "), pursuant to which such proceeds are held, and a copy
of which has been supplied to the Agency. By its execution and
delivery of this Agreement, the Agency and each of its Members
agrees, in addition to all of the other agreements hereinafter
set forth, that the Agency shall accept the net proceeds of the
Initial Bonds subject to the provisions of the Escrow. The
Initial Host Member and the Agency representing all of its
Members agree to good faith negotiations for the terms of the
"Subsequent Documents" as defined in the Escrow, which documents
shall provide for disbursement of the proceeds of the Initial
Bonds for Self- Insurance and other purposes as permitted therein,
appropriate investment of such proceeds to maintain the tax -
exempt status of the Initial Bonds, and application of the Debt
Service Payments.
ARTICLE III
OBLIGATIONS OF MEMBERS
SECTION 3.1.. Agreement to Pay. The purpose of this
Agreement is to provide for the payment of the following amounts
(the "Aggregate Debt Service Amounts ") : (a) the repayment of
principal of, premium, if any, and interest on the Bonds, (b)
compensation, if any, to an Issuer for issuing Bonds, to the
extent not paid out of bond proceeds and (c) issuance costs to
the extent not paid out of bond proceeds. Each Member hereby
agrees to pay its proportionate share of the Aggregate Debt
Service Amounts until the Bonds are fully paid, such individual
portion referred to herein as a Member's "Debt Service
Payment." A Member's Debt Service Payment may be included within
or be in addition to the annual and supplementary payments due to
-5-
the Agency pursuant to the first sentence of paragraph (a) of
Article IX of the Contract and By -Laws.
SECTION 3.2. Bills and Due Date. The Agency shall
notify each Member of the amount of such Member's Debt Service
Payments due for a given year, on or before April 1 of each year
that Bonds are outstanding. Such annual notice shall specify the
amount of such two equal payments, which shall be due and payable
and must be received by the Agency on or before May 1 and
November 1 of such year. The Agency shall pay the Aggregate Debt
Service Amounts paid by the Members to the Issuer or Issuers of
the Bonds, on or before May 15 and November 15, for payment of
debt service on the Bonds. If Additional Bonds are issued, the
Agency may specify different payment dates relating to such
bonds.
SECTION 3.3. Calculation of Amount. The Agency shall
calculate the amount of the Debt Service Payment of each
Member. A Member shall pay the same proportionate share of the
Aggregate Debt Service Amounts as the proportion of its payments
to the Agency under the terms of the Contract and By -Laws.
SECTION 3.4. Provision for Payment. Each Member hereby
agrees to appropriate, budget for and, where, necessary, levy
taxes, so as to have funds available to make its Debt Service
Payment on a timely basis.
SECTION 3.5. Default Shares. If any Member shall
default in the payment to the Agency of any part of its Debt
Service Payments, each Member agrees to pay a share of the amount
so in default to the Agency, which share shall be in the same
proportion as such Member's most recent Debt Service Payment,
adjusted proportionately to cover the defaulting Member's
portion. A Member's share of defaulted Aggregate Debt Service
Amounts shall be due and payable five (5) days after the Agency's
written demand therefor. The demand shall include the Agency's
calculations of the amount due by the Member hereunder. If and
when the defaulting Member makes a payment to the Agency of a
defaulted amount or interest thereon for which the Members have
made a payment to the Agency under this section, the Agency will
pay to each Member its proportionate share of such defaulted
amount, including any such interest.
SECTION 3.6. Disputed Payments. If a Member desires to
dispute all or any part of any payments under this Agreement, the
Member shall nevertheless pay the full amount of any such payment
when due and include with such payment written notification to
the Agency that charges are disputed, the grounds for dispute and
the amount in dispute.
Upon receipt of notification of dispute, representa-
tives of the Agency shall meet with representatives of the Member
to resolve such dispute. No adjustment or relief on account of
any disputed• charges shall be made unless disputed charges are
the subject of such notice within the time herein. specified, or
within a reasonable period from the time the Member knew or
should have known of the facts giving rise to the dispute.
,The Agency and the Member shall promptly attempt and
continue efforts to resolve the dispute. In the event that it is
determined that-the Member shall have overpaid,.it shall receive
a refund with interest at the rate of six percent (6%) per annum.
SECTION 3.7. Interest on Overdue Payments. If a Member
shall fail to make any payment required under this Agreement on
or before its due date, such Member shall be in default, and
interest on the amount of such payment shall accrue during the
period of non - payment at the rate of nine percent (9%) per annum,
calculated on the basis of a 360 -day year comprised of twelve
30 -day months, from the date such payment becomes due until paid
in full with interest as herein specified, plus the costs of
collection including reasonable attorney's fees. The rights
specified in this Section 3.7 shall be in addition to all other
rights and remedies available to the Agency at law or in equity
for breach of *any of the provisions of this Agreement.
ARTICLE IV
ADDITIONAL BONDS
Additional Bonds may be issued from time to time, to
replenish or increase the joint Self- Insurance reserve fund, upon
the vote of, the requisite majority, as set forth in the Contract
and By -Laws, of the directors then constituting the Board of
Directors of the Agency; provided, however, that such Board shall
make the determination that such issue of Additional Bonds is
necessary for the payment of actual claims or is needed in order
to increase the size of the joint Self- Insurance reserve fund.
Such vote shall obligate all Members to pay their respective Debt
Service Payments with respect to such Additional Bonds as herein
provided. The Additional Bonds shall be issued by the Agency or
on behalf of the Agency by a Host Member or other entity selected
by the Agency. The Initial Host Member shall not be obligated to
be an Issuer on any issue of Additional Bonds, unless it so
elects.
Whenever any Additional Bonds are issued, the Agency
may provide a procedure to permit a Member to provide alternate
funding of its proportionate share of the additional Acgrecate
-7-
Debt Service Amounts resulting from such Additional Bonds, by a
method to be determined at that time. For Members not choosing
to do so, such Members' individual Debt Service Payments will be
adjusted to provide for the payment of the increased Aggregate
Debt Service Amounts payable with respect to the larger amount of
outstanding Bonds.
ARTICLE V
REDEMPTION OR DEFEASANCE
Nothing herein shall prevent the Agency or an Issuer
from electing to redeem or defease an issue of Bonds at the times
and upon the terms set forth in the proceedings relating to such
Bonds. If the funds to provide such redemption or.defeasance are
furnished solely by the. Issuer of an issue of Bonds, or a
successor Issuer, then the Members' Debt Service Payments under
Section 3.1 shall continue as if the Bonds were still outstanding
and the term of such Debt Service Payments shall not be
extended. If the redemption or defeasance is instead made upon
action of the Board of Directors of the Agency, then the Agency
shall provide the manner in which each Member shall thereupon
furnish its proportionate share of the funds .needed to accomplish
such redemption or defeasance, and such Members' regular Debt
Service Payments shall abate accordingly.
ARTICLE VI
NEW MEMBERS; EXPULSION
SECTION 6.1. New Members. A new Member may be admitted
to the Agency pursuant to Article III and Article V(h)(iii) of
the Contract and By -Laws. Any such new Member who has not
contributed to the Aggregate Debt Service Amounts on the Bonds
from the date of initial issuance of each issue of Bonds may be
required by the Agency to pay an additional sum to the Agency, in
an amount determined to be appropriate by the Agency.
SECTION 6.2. Expulsion of Members. If a Member is
expelled from the Agency pursuant to Article XV of the Contract
and By -Laws, the former Member shall continue to. be fully
obligated for any Debt Service Payments for which it was
delinquent at the- time of its departure. Moreover, a former
Member shall continue to pay periodic Debt Service Payments, as
calculated by the Agency and based upon such Member's overall
proportionate share of the aggregate contributions made during
the period that such Member has belonged to the Agency, until the
Bonds are fully paid, even though the former Member no longer is
a part of the Agency. Such amounts are in consideration of the
benefit of the joint Self- Insurance reserve fund which was
established for all Members by the issuance of the Bonds, and
reflects the former Member's irrevocable promise to repay its
share of the Aggregate Debt Service Amounts until the Bonds are
fully paid.
Upon the expulsion of a Member, the Agency shall make a
valuation of such expelled Member's interest in the reserve fund,
and determine such expelled Member's share (the "Expelled
Member's Share "), based upon such Member's average proportionate
share of the aggregate contributi.ons made during the period that
such Member has belonged to the Agency. The Expelled Member's
Share of the reserve fund shall then be separately accounted for
(including accounting for interest earned and other profits or
losses); provided, however, that the Expelled Member shall be
required to contribute further to such account to the extent that
the amount to the credit thereof at.any time is not sufficient to
provide the expelled Member's proportionate share of one year's
maximum annual debt service on the Bonds then outstanding.
Whenever a claim is asserted and determined to be
payable under the joint self- insurance provided by the Agency on
an incident arising, with respect to any of the Members that
occurred during the period that an expelled Member was part of
the Agency, the expelled Member shall be liable for that portion
of the claim equal to such Member's average proportionate share
of the aggregate payments made to the Agency during the period
which such Member belonged to the Agency. In the case of claims
covered on a "claims -made basis," such claim must have both
arisen and been reported during the subject period to qualify for
payment, as provided in the Contract and By -Laws.
The account with respect to an expelled Member shall
only be drawn upon (i) to meet any previously- incurred liability
as described above, (ii) to pay any delinquent Debt Service
Payments of such expelled Member or (iii) to pay any other
amounts due to the Agency or any other Member under this
Agreement or under the Contract and By -Laws.
Amounts shall remain on deposit in the account of an
expelled Member until all claims have been paid with respect to
the period 'during which such expelled Member was a part of the
Agency, or until the amounts in the reserve fund of the Agency
have been declared "surplus" by the Agency and returned to the
Members, at which point any balance in such account shall
likewise be returned to the expelled Member. If, after return of
such account moneys to an expelled Member, new claims result in a
judgment or settlement within the scope of coverage of the Agency
for the period it was a Member of the Agency or there are other
sums due from the Members for such period under the Contract and
By -Laws, the expelled Member shall be subject to a call for
supplementary payments for its share of such claim, calculated as
provided above.
ARTICLE VII
UNCONDITIONAL OBLIGATION
SECTION 7.1. Absolute and Irrevocable Conditions. All
terms and conditions contained herein are intended to be absolute
and irrevocable conditions hereof and are agreed to by the
parties. It is hereby intended that no change in the Act or
other law or regulation subsequent to the date hereof shall
affect any of the terms or provisions of this Agreement, and
neither the Members nor the Agency, without the unanimous consent
of all of them, shall take any actions under a change in the Act
or other law or regulation contrary to the terms and conditions
herein.
SECTION 7.2. Member's Obligation Unconditional. The
Members shall have no right to terminate, cancel or rescind this
Agreement, no right to withhold-from the Agency payments due or
to become due under this Agreement, no right to recover from the
Agency amounts previously paid under this Agreement unless paid
in error or contrary to the provisions of this Agreement or law,
no right of reduction or set -off against the amounts due or to
become due under this Agreement, to the Agency, and no lien on
any amounts in any fund established by the Agency for any reason
or on account of the existence or occurrence of any event,
condition or contingency, whether foreseen or unforeseen or
foreseeable or unforeseeable by the Members or the Agency or any
other person; it being the intent hereof that the Members shall
be absolutely and unconditionally obligated to make all payments
hereunder. The above sentence shall be included in the ordinance
of each Member approving this Agreement. An Issuer will issue
its Bonds in specific reliance on the limitations set forth in
this Section with respect to the rights of"the Members.
ARTICLE VIII
THIS AGREEMENT TO GOVERN; ASSIGNMENT
SECTION 8.1. This Acreement to Govern. The parties
hereto are entering into this Agreement to supplement and expand
the scope of the Contract and By -Laws. The proceeds of Bonds may
be used for any lawful purposes as provided in the Contract and
By -Laws, subject to the terms and provisions of the Subsequent
-10-
Documents under
the provisions
this Agreement
the Escrow. In the event of a conflict between
of this Agreement and of the Contract and By -Laws,
shall control.
SECTION 8.2. Assignment. This Agreement is made solely
among the parties hereto, and may not be assigned, other than to
(i) a Host Member or (ii) an institution serving as a trustee or
escrow or depository agent for the benefit of an issue of Bonds
issued by a Host Member pursuant to or payable from Debt Service
Payments made pursuant to this Agreement.
ARTICLE IX
MISCELLANEOUS
SECTION 9.1. Notices. All notices, certificates or
other communications hereunder shall be sufficiently given and
shall be deemed to have been received five business days after
deposit in the United States mail in certified form, postage
prepaid, to the Members, the Agency or the Host Member at the
addresses set forth in Exhibit A hereto. The Agency and the
Members, by notice given hereunder, may designate different
addresses to which subsequent notices, certificates or other
communications will be sent.
SECTION '9.2. Binding Effect. This Agreement shall
inure to the benefit of and shall be binding upon the Agency and
the Members and their respective successors and assigns.
SECTION 9.3. Severability. In the event any provision
of this Agreement shall be held invalid or unenforceable by a
court of competent jurisdiction, such holding shall not
invalidate or render unenforceable any other provision hereof.
SECTION 9.4. Further Assurances and Corrective
Instruments. The Agency and the Members agree that they will,
from time to time, execute, acknowledge and deliver, or cause to
be executed, acknowledged and delivered, such supplements hereto
and such further instruments as may reasonably be required for
carrying out the expressed intention of this Agreement.
SECTION 9.5. Execution in Counterparts. This Agreement
may be executed in any number of counterparts, each of which
shall be an original and all of which shall constitute but one
and the same instrument; provided that for purposes of perfecting
the pledge and assignment of certain rights under this Agreement
to the t.gency, the counterpart of.this Agreement delivered to the
Agency'shall be deemed the original.
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SECTION 9.6. Anolicable Law. This Agreement shall be
governed by and construed in accordance with the laws of the
State of Illinois.
SECTION 9.7. Term. If, on or before March 1, 1988,
this Agreement shall have been approved and executed by Members
having among them 75% or more of the following percentage
allocations:
Municipality Allocation ( %)
Arlington Heights
11.64
Chicago Ridge
2.24
Deerfield
3.56
DesPlaines
11.39
Elk Grove Village
7.64
Glenview
6.20
Hoffman Estates
6.60
Lincolnshire
1.34
Mount Prospect
7.76
Oak Lawn
9.23
Park Ridge
6.25
Skokie
10.52
Streamwood
4.18
Wheaton
6.98
Winnetka
4.46
then such agreement shall be in full force and effect. In the
event that the required number of Members do not approve and
execute this Agreement by March 1, 1988, this Agreement shall be
null and void. If this Agreement does become effective as
hereinabove provided, a majority vote of the Members who approved
and executed this Agreement by March 1, 1988 will be required to
extend the benefits of this Agreement to any other Members that
desire to execute this Agreement after March 1, 1988; provided,
however, that no additional Members may be added under this
provision after March 31, 1988.
The term of this Agreement shall extend to authorize,
permit and require the issuance of additional bonds whenever such
bonds are required to fund the obligations of the Agency. It is
acknowledged and made the essence of this agreement that the
claims made against the Members shall be payable by the Agency
that the scope of the Agency may be extended to include any claim
made within 10 years of their occurrence- so long as that
occurrence took place during the contractual term of the
Agency. The parties acknowledge that the amount of such claims
will not be known at the end of the 11th year term of the Agency
and that additional bonds may need to be issued under this
Agreement or supplementary payments required by the Contract and
-12-
By -Laws, even after the end of the 11th year term of the Agency
such that all claims within the scope and amount of the coverage
provided by the Agency can be adjudicated or settled.
IN WITNESS WHEREOF, the Agency has caused this
Agreement to be executed in its name by its duly authorized
officers; and the Initial Host Member and the Members have caused
this Agreement to be executed in their respective names by their
respective duly authorized officials, as of the date first above
written, and such Agreement shall be effective from the date of
execution shown below.
Attest: HIGH -LEVEL EXCESS LIABILITY
SECRETARY OF THE POOL, the Agency
HIGH -LEVEL EXCESS LIABILITY POOL
By
Attest:
VILLAGE CLERK OF THE VILLAGE OF
ELK GROVE VILLAGE
By
Attest:
VILLAGE CLERK OF THE VILLAGE OF
HOFFMAN ESTATES
By
Attest:
CITY CLERK OF THE CITY OF
DES PLAINES
By
By
Chairman
VILLAGE OF ELK GROVE VILLAGE,
Initial Host Member
By
President
VILLAGE OF HOFFMAN ESTATES,
Member
By.
President
CITY OF DES PLAINES,
Member
By
-13-
Mayor
Attest:
VILLAGE CLERK OF THE VILLAGE
OF GLENVIEW
By
Attest:
VILLAGE CLERK OF THE VILLAGE
OF ARLINGTON HEIGHTS
By
Attest:
VILLAGE CLERK OF THE VILLAGE
OF SKOKIE
By
Attest:
VILLAGE CLERK OF THE VILLAGE
OF STREAMWOOD
By
Attest.:
VILLAGE CLERK OF THE VILLAGE
OF WINNETKA
By
VILLAGE OF GLENVIEW,
Member
By .
President
VILLAGE OF ARLINGTON HEIGHTS,
Member
By
President
VILLAGE OF SKOKIE,
Member
By
President
VILLAGE OF STREAMWOOD,
Member
By
President
VILLAGE OF WINNETKA,
Member
By
President
-14-
Attest:
CITY CLERK OF THE CITY OF
PARK RIDGE
By
Attest:
VILLAGE CLERK OF THE VILLAGE
OF MOUNT PROSPECT
By
Attest:
VILLAGE CLERK OF THE VILLAGE
OF LINCOLNSHIRE
By
Attest:
VILLAGE CLERK OF THE VILLAGE
OF OAK LAWN
By
Attest: (Deputy)
VILLAGE CLERK OF THE VILLAGE
OF DEERFIELD
�� viii
CITY OF PARK RIDGE_,
Member
By
Mayor
VILLAGE OF MOUNT PROSPECT,
Member
By
President
VILLAGE OF LINCOLNSHIRE,
Member
By
President
VILLAGE OF OAK LAWN,
Member
By
President
VILLAGE OF DEERFIELD,
Member
By Ad Q'fAtO�
President
-15-
Attest:
CITY CLERK OF THE CITY OF
WHEATON
By
Attest:
VILLAGE CLERK OF THE VILLAGE
OF CHICAGO RIDGE
By
CITY OF WHEATON,
Member
By
Mayor
VILLAGE OF CHICAGO RIDGE,
Member
By
President
-16-
EXHIBIT A
NOTICE ADDRESSES
High -Level Excess Liability
Pool
c/o Elk Grove Village Hall
901 Wellington Avenue
Elk Grove Village,'IL 60007 -3499
Attn:
Village of Elk Grove Village,
Illinois
Elk Grove Village Hall
901 Wellington Avenue
Elk Grove Village, IL 60007 -3499
Attn:
Village of Hcffman Estates,
Illinois
Hoffman Estates, IL
Attention:
City of Des Plaines, Illinois
Des Plaines, IL
Attention:
Village of Glenview, Illinois
Glenview, IL
Attention:
Village of Arlington Heights,
Illinois .
Arlington Heights, IL
Attention:
Village of Skokie, Illinois
Skokie, IL
Attention:
Village of Streamwood, Illinois
Streamwood, IL
Attention:
Village of Winnetka, Illinois
Winnetka, IL
Attention:
City of Park Ridge, Illinois
Park Ridge, IL
Attention:
Village.of Mount Prospect,
Illinois
Mount Prospect, IL
Attention:
Village of Lincolnshire, Illinois
Lincolnshire, IL
Attention:
Village of Oak Lawn, Illinois
Oak Lawn, IL
Attention:
Village of Deerfield, Illinois
850 Waukegan Road
Deerfield, IL
Attention:
-17-
City of Wheaton, Illinois
Wheaton, IL
Attention:
Village of Chicago Ridge,
Illinois
Chicago Ridge, IL
Attention:
Ulm
STATE OF ILLINOIS )
COUNTIES OF LAKE AND COOK )
VILLAGE OF DEERFIELD )
SS.
The undersigned hereby certifies that she is the duly appointed Deputy Village
Clerk of the Village of Deerfield, Lake and Cook Counties, Illinois, and that
the attached is a true and accurate copy of
minutes of the February 1; 1988 Board meeting
as appears in the records and files of the office of the Village Clerk.
Dated this February 16, 1988
SHARON K. CROMIE
Deputy Village Clerk
AL _
1"
February 1, 1988
The regular meeting of the Board of Trustees of the Village of
Deerfield was called to order by the Clerk in the Council Chamber of
the Village Hall on Monday, February 1, 1988 at 8:00 P.M. The Clerk
called the roll and announced that the following
Present: Bernard Forrest, Mayor
James L. Marovitz
Cynthia J. Marty
Harriet E. Rosenthal
Edwin B. Seidman
Vernon E. Swanson
J. Robert York
F� E 1 1 M
and that a quorum was present and in attendance. Also present was
Village Manager Robert Franz.
Trustee Seidman moved, seconded by Trustee Marty, that the minutes of
the previous meeting be approved. Motion carried unanimously.
PRESENTATION Mayor Forrest presented a certificate of appre-
ciation to Thomas Whaley for his outstanding and
dedicated service to the Village of Deerfield. Mr. Whaley resigned as
chairman of the Village Center Development Commission. He has served on
various Deerfield commissions since 1973.
PROCLAMATION Trustee .Marty moved, seconded by Trustee
Rosenthal, that a Proclamation declaring Sunday,
February 14, 1988 as CARING FOR OTHERS DAY in Deerfield be accepted.
Motion carried unanimously.
POLICE DEPARTMENT Police Chief Richard Brandt appeared before the
OBJECTIVES Board to answer questions regarding the_
annual report he had submitted. It was noted
that response time to calls had not improved in the past year. Chief
Brandt explained that response time can be affected by heavy traffic
delaying police arrival. Increase in traffic accidents was attributed
to the heavy volume of traffic in Deerfield caused by tollway repairs.
Discussion of the amount of man hours spent on false alarms prompted the
Mayor to request the Police Department to make some recommendations for
reducing the number of false alarms. Suggestions for consideration were
heavier penalties and limiting the number of free responses to false
alarms. The Board also commented on the number of unpaid traffic
tickets. Chief Brandt advised that a collection agency is now reviewing
Deerfield's procedures and their recommendation on improving the ticket
collection rate will be presented at the next Board meeting.
RESUBDIVISION /FINAL Petitioner wishes to divide his lot into two
PLAT - SPECIAL USE lots. The new lot will front on an extension
232 BIRCHWOOD, TONDI of Park Lane which petitioner will dedicate.
Trustee Marty moved, seconded by Trustee Rosenthal, that the recommenda-
tion of the Plan Commission regarding request for approval of Final Plat
of Resubdivision - Special Use Planned Residential Development, 232
Birchwood, Tondi be approved and the Attorney directed to prepare the
necessary ordinance. Motion carried unanimously.
RESUBDIVISION, /FINAL ''Petitioner wishes to divide his lot into two
PLAT - SPECIAL USE lots. The new lot will front on an extension of
227 KENMORE, VISORY Park Lane which petitioner proposes to dedicate.
Trustee Seidman moved, seconded by Trustee Marovitz, that the recom-
mendation of the Plan Commission regarding request for approval of
Final Plat of Resubdivision - Special Use Planned Residential
Development, 227 Kenmore Avenue, Visoky be approved.. and.. the Attorney .._.. ......
directed to prepare the necessary ordinance. Motion carried....__.. _.
unanimously.
AMENDMENT /SPECIAL USE Petitioner wishes to renovate the existing gas
AMOCO - 700 WAUKEGAN station and mend the site plan to include a
canopy. The Board agreed that the Village
Center Development Commission and the Appearance Review Commission
should review the proposed plan.
Trustee Rosenthal moved, seconded by Trustee Marty, that the
recommendation of the Plan Commission regarding request for amendment to
Special Use - Amoco, 700 Waukegan Road be tabled until further review by
the VCDC. Motion carried unanimously.
SPECIAL USE - 570 LAKE Webster University wishes to lease a portion of
COOK ROAD /UNIVERSITY the existing I -1 Eastern PUD located at 570
Lake Cook Road to conduct evening classes.
This is not a Permitted Use nor Special Use in the I -1 District.
Petitioner is requesting an amendment of the text of the Zoning
Ordinance to include such a use and an amendment of their Special Use.
Trustee Marty moved, seconded by Trustee Seidman, that the recommenda-
tion of the Plan Commission regarding amendment of I -1 PUD /Text
Amendment re universities (Flodstrom Brickyards) be approved and the
Attorney directed to prepare the necessary text amendment and the
ordinance for Special Use specifying that classes may not begin until
6 P.M. Motion carried unanimously.
FINAL DEVELOPMENT Mike Malicki, representing petitioner,
PLAN - RESIDENCE INN displayed a sketch of the proposed Residence
MATAS CORPORATE 500 Inn sign and the areas where it would be
situated. The Board expressed concern over the
size of the sign and its location on Lake Cook Road. They suggested
petitioner bring more pertinent information on the location, setback,
site lines and size of the sign to the next meeting.
Trustee Seidman moved, seconded by Trustee Marovitz, that the
recommendation of the Plan Commission regarding Final Development Plan
of Residence Inn, Matas Corporate 500 be tabled until the next meeting.
Motion carried unanimously.
0 -88 -5 ORDINANCE The Village joined the high -Level Excess
INTERGOVERNMENTAL Liability Pool (HELP) which was formed to
AGREEMENT - (HELP) provide coverage for claims in excess of $1
million. The proposed Intergovernmental
Agreement restates the agreement the Village previously signed but
stronger due to increased capitalization of $5 million.
is
Trustee Seidman moved, seconded by Trustee Marty, that the rules be
waived to permit passage of the Ordinance authorizing the mayor to sign
an Intergovernmental Agreement providing for the payment of debt service
among the members of HELP on first reading. Motion carried unanimously.
Trustee Seidman moved, seconded by Trustee Marovitz, that the Ordinance
authorizing the Mayor to sign an Intergovernmental Agreement providing
for the payment of debt service among the members of HELP be adopted.
Motion carried by the following vote:
AYES: Marovitz, Marty, Rosenthal, Seidman, Swanson, York (6)
NAYS: None (0)
R -88 -2 RESOLUTION
FUNDING of . LAKE
COUNTY JOINT ACTION
SOLID WASTE PLANNING
AGENCY
Deerfield's allocation
The Lake County Joint Action Solid Waste
Planning Agency voted unanimously to continue
the current planning program with local
funding. State funding is expected to resume
in June. When it is reinstated, the Agency
will reimburse fully all municipal funds.
has been set at $10,542
Trustee Marty moved, seconded by Trustee Rosenthal, that the Mayor be
authorized to sign a Resolution appropriating an amount not to exceed_..
$10,542 for continued funding of the Lake County Joint Action Solid
Waste Planning Agency. Motion carried by the following vote:
AYES: Marovitz, Marty, Rosenthal, Seidman, Swanson, York (6)
NAYS: None (0)
ARCHITECTURAL SERVICES Trustee Marty moved, seconded by Trustee
'TTTT AGE HALL REMODELING Marovitz, that Legat Architects be retained for
v a..t1Jl
architectural services in connection with
remodeling the Village Hall in an amount not to.exceed:$4,000.00.
Motion carried by the following vote:
AYES: Marovitz, Marty, Rosenthal, Seidman, Swanson, York (6)
NAYS: None (0)
AWARD OF BID Based upon the poor maintenance record of the
POLICE SQUAD CARS Dodge cars and the substantial difference in
the value of used Chevrolets, Police Chief
Brandt recommended purchasing Chevrolets under the State bid and selling
the old fleet outright.
Trustee Marty moved, seconded by Trustee Rosenthal, that the bid for six
police patrol cars be awarded to Miles Chevrolet, Inc. in Decatur,
Illinois in an amount not to exceed $71,657.70 plus delivery charges and
to sell the present vehicles at best price. Motion carried by'the
following vote:
AYES: Marovitz, Marty, Rosenthal, Seidman, Swanson, York (6)
NAYS: None (0)
DISCUSSION: Trustee Seidman mentioned that the Village
will be looking at some form of recycling. The
Solid Waste Planning Agency has a preliminary recycling proposal which
has been given to the Village Manager. It could provide some ideas for
discussion with the scavenger service.
Trustee Rosenthal wished to commend Jean Spagnoli on the excellent
report that'she had submitted re: retail sq.'footage in the Village Cente
AMOCO SETTLEMENT Village Manager Franz reviewed a proposed
settlement of a law suit by Amoco Oil Company
regarding property on the northeast corner of Lake Cook and Waukegan
Roads. Among the conditions listed in the proposed settlement were a
revised site plan, further increase in the building and canopy setback;
additional landscape, improvement in site appearance and lighting plan,
no left turns in peak hours, installation of public telephone and rest
room inside the facility, restriction on outside display and storage of
merchandise, limitation on signage, and size restriction on the food
shop facility.
Trustee Marty moved, seconded by Trustee Marovitz, that the Village
accept the settlement and the attorney prepare the necessary ordinance.
Motion carried by the following vote:
AYES: Marovitz, Marty, Rosenthal, Swanson (4)
NAYS: Seidman (1)
ABSTAIN: York.(1)
DRAINAGE DISTRICT Village Manager Franz discussed the law suit
against the Drainage District. Discussions
with the District indicated they were agreeable to an election held
either March 19 or March 26 in the Village Hall from 9 A.M. to 3 P.M.
The Board chose March 19 as the election date. Village Manager Franz
f requested direction from the Board to prepare a settlement agreement to
take to court for an order to finalize the settlement. The Board
suggested that as part of the settlement, boundaries of the Drainage
District be specified. It should also include the fact that the Board
does not accept that the other election was done correctly.
Trustee Seidman moved, seconded by Trustee Rosenthal, that a settlement
agreement as discussed should be drawn. Motion carried unanimously.
There being no further business, upon motion of Trustee York, seconded,
by Trustee Rosenthal,' the meeting adjourned at 9:30 P.M.._....
Associated "
,J20 -90 9 x 12