O-91-28Q
ORDINANCE NO. 0 -91 -28
AN ORDINANCE AUTHORIZING THE ISSUANCE OF
$1,500,000 GENERAL OBLIGATION BONDS, SERIES 1991,
OF THE VILLAGE OF DEERFIELD, ILLINOIS
Published in pamphlet form this
2nd day of July , 1991,
by the President and Board of
Trustees of Deerfield.
ORDINANCE NO. 0 -91 -28
ORDINANCE AUTHORIZING THE ISSUANCE OF $1,500,000
GENERAL OBLIGATION BONDS, SERIES 1991, OF THE
` VILLAGE OF DEERFIELD, ILLINOIS
BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF
THE VILLAGE OF DEERFIELD, ILLINOIS, AS FOLLOWS:
Section 1. Authority and Purpose. This ordinance is
adopted pursuant to Section 6 of Article VII of the Illinois
Constitution of 1970 for the purpose of financing redevelopment
project costs (including the reimbursement of moneys previously
advanced by the Village) of the following redevelopment projects
included in the "Village of Deerfield Redevelopment Plan, Village
Center Project Area, October 198611, approved by Ordinance No. '
0- 86 -66, adopted by the President and Board of Trustees of the
Village on December 15, 1986: (1) the streetscape improvement
described as "Streetscape Phases III and IV" in the report of
Harland Bartholomew & Associates, Inc., and (2),the improvement of
Osterman Avenue, including street resurfacing, curb and gutter
replacement and related underground work. The foregoing improve-
ments or purposes are each hereby authorized to be made or under-
taken by the Village of Deerfield, Illinois.
Section 2. Authorization and Terms of Bonds. To meet
part of the estimated cost of the improvements or purposes de-
scribed in Section 1 of this ordinance and the costs of issuance
of the bonds herein authorized, there is hereby appropriated the
sum of $1,500,000. For the purpose of financing said appropria-
tion, general obligation bonds of the Village shall be issued and
sold in an aggregate principal amount of $1,500,000, and shall be
designated "General Obligation Bonds, Series 1991 ". Bonds shall
be issuable in the denominations of $5,000 or any integral mul-
tiple thereof and may bear such identifying numbers or letters as
shall be useful to facilitate the registration, transfer and ex-
change of bonds. Unless otherwise determined in the order to
authenticate the bonds, each bond delivered upon the original
issuance of the bonds shall be dated as of July 1, 1991. Each
bond thereafter issued upon any transfer or exchange of bonds
shall be dated so that no gain or loss of interest shall result
from such transfer or exchange. The bonds shall mature (without
option of prior redemption) on January 1 in each year shown in the
following table in the respective principal amount set forth
opposite each such year and the bonds maturing in each such year
shall bear interest at the respective rate per annum set forth
opposite such year:
Each bond shall bear interest from its date, computed on
the basis of a 360 day year consisting of twelve 30 day months and
payable in lawful money of the United States of America on January
1, 1992 and semiannually thereafter on each January 1 and July 1
at the rates per annum herein determined. The principal of the
bonds shall be payable in lawful money of the United States of
America upon presentation and surrender thereof at the principal
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Principal
Interest
Principal
Interest
Year
Amount
Rate
Year Amount
Rate
1993
$300,000
5.20 %
1996 $300,000
5.70 $
1994
300,000
5.40
1997 300,000
5.80
1995
300,000
5.60
Each bond shall bear interest from its date, computed on
the basis of a 360 day year consisting of twelve 30 day months and
payable in lawful money of the United States of America on January
1, 1992 and semiannually thereafter on each January 1 and July 1
at the rates per annum herein determined. The principal of the
bonds shall be payable in lawful money of the United States of
America upon presentation and surrender thereof at the principal
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corporate trust office of American National Bank and Trust Company
of Chicago, in the City of Chicago, Illinois, which is hereby
I. appointed as bond registrar and paying agent for the bonds.
Interest on the bonds shall be payable on each interest payment
date to the registered owners of record thereof appearing on the
registration books maintained by the Village for such purpose at
the principal corporate trust office of the bond registrar, as of
the close of business on the 15th day of the calendar month next
preceding the applicable interest payment date. Interest on the
bonds shall be paid by check or draft mailed to such registered
owners at their addresses appearing on the registration books.
Section 3. Sale and Delivery. The bonds are hereby
sold to Clayton Brown & Associates, Inc., as purchaser, at a price
of $1,498,140 and accrued interest from their date to the date of
delivery and payment therefor. The official statement prepared
with respect to the bonds is hereby approved.
The Village President, Village Clerk and other officials
of the Village are hereby authorized and directed to do and per-
form, or cause to be done or performed for or on behalf of the
Village each and every thing necessary for the issuance of the
bonds, including the proper execution and delivery of the bonds
and the official statement.
Section 4. Execution and Authentication. Each bond
shall be executed in the name of the Village by the manual or
authorized facsimile signature of its Village President and the
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corporate seal of the Village, or a facsimile thereof, shall be
thereunto affixed or otherwise reproduced thereon and attested by
the manual or authorized facsimile signature of its Village Clerk.
In case any officer whose signature, or a facsimile of
whose signature, shall appear on any bond shall cease to hold such
office before the issuance of the bond, such bond shall neverthe-
less be valid and sufficient for all purposes, the same as if the
person whose signature, or a facsimile thereof, appears on such
bond had not ceased to hold such office. Any bond may be signed,
sealed or attested on behalf of the Village by any person who, on
the date of such act, shall hold the proper office, notwithstand-
ing that at the date of such bond such person may not have held
such office. No recourse shall be had for the payment of any
bonds against any officer who executes the bonds.
Each bond shall bear thereon a certificate of authenti-
cation executed manually by the bond registrar. No bond shall be
entitled to any right or benefit under this ordinance or shall be
valid or obligatory of any purpose until such certificate of au-
thentication shall have been duly executed by the bond registrar.
Section S. Transfer, Exchange and Registry. The bonds
shall be negotiable, subject to'the provisions for registration of
transfer contained herein. Each bond shall be transferable only
upon the registration books maintained by the Village for that
purpose at the principal corporate trust office of the bond regis-
trar, by the registered owner thereof in person or by his attorney
duly authorized in writing, upon surrender thereof together with a
written instrument of transfer satisfactory to the bond registrar
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and duly executed by the registered owner or his duly authorized
attorney. Upon the surrender for transfer of any such.bond, the
Village shall execute and the bond registrar shall authenticate
and deliver a new bond or bonds registered in the name of the
transferee, of the same aggregate principal amount, maturity and
interest rate as the surrendered bond. Bonds, upon surrender
thereof at the principal corporate trust office of the bond regis-
trar, with a written instrument satisfactory to the bond regis-
trar, duly executed by the registered owner or his attorney duly
authorized in writing, may be exchanged for an equal aggregate
principal amount of bonds of the same maturity and interest rate
and of the denominations of $5,000 or any integral multiple there-
of.
For every such exchange or registration of transfer of
bonds, the Village or the bond registrar may make a charge suffi-
cient to reimburse it for any tax, fee or other governmental
charge required to be paid with respect to such exchange or trans-
fer, which sum or sums shall be paid by the person requesting such
exchange or transfer as a condition precedent to the exercise of
the privilege of making such exchange or transfer. No other
charge shall be made for the privilege of making such transfer or
exchange. The provisions of the Illinois Bond Replacement Act
shall govern the replacement of lost, destroyed or defaced bonds.
The Village and the bond registrar may deem and treat
the person in whose name any bond shall be registered upon the
registration books as the absolute owner of such bond, whether
such bond shall be overdue or not, for the purpose of receiving
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payment of, or on account of, the principal of or interest thereon
and for all other purposes whatsoever, and all such payments so
made to any such registered owner or upon his order shall be valid
and effectual to satisfy and discharge the liability upon such
bond to the extent of the sum or sums so paid, and neither the
Village nor the bond registrar shall be affected by any notice to
the contrary.
Section 6. Bond Registrar. The Village covenants that
it shall at all times retain a bond registrar with respect to the
bonds, that it will maintain at the designated office of such bond
registrar a place where bonds may be presented for payment and
registration of transfer or exchange and that it shall require
that the bond registrar maintain proper registration books and
perform the other duties and obligations imposed upon it by this
ordinance in a manner consistent with the standards, customs and
practices of the municipal securities business.
The bond registrar shall signify its acceptance of the
duties and obligations imposed upon it by this ordinance by exe-
cuting the certificate of authentication on any bond, and by such
execution the bond registrar shall be deemed to have certified to
the Village that it has all requisite power to accept, and has
accepted such duties and obligations not only with respect to the
bond so authenticated but with respect to all the bonds. The bond
registrar is the agent of the Village and shall not be liable in
connection with the performance of its duties except for its own
negligence or default. The bond registrar shall, however, be
responsible for any representation in its certificate of authenti-
cation on the bonds.
The Village may remove the bond registrar at any time.
In case at any time the bond registrar shall resign or shall be
removed or shall become incapable of acting, or shall be adjudged
a-bankrupt or insolvent, or if a receiver, liquidator or conserva-
tor of the bond registrar, or of its property, shall be appointed,
or if any public officer shall take charge or control of the bond
registrar or of its property or affairs, the Village covenants and
agrees that it will thereupon appoint a successor bond registrar.
The Village shall mail notice of any such appointment made by it
to each registered owner of bonds within twenty days after such
appointment. Any bond registrar appointed under the provisions of
this Section shall be a bank, trust company or national banking
association maintaining its principal corporate trust office in
the State of Illinois, the City of St. Louis, Missouri or the
Borough of Manhattan, City and State of New York.
Section 7. General Obligations. The full faith and
credit of the Village are hereby irrevocably pledged to the punc-
tual payment of the principal of and interest on the bonds. The
bonds shall be direct and general obligations of the Village, and
the Village shall be obligated to levy ad valorem taxes upon all
the taxable property in the Village for the payment of the bonds
and the interest thereon, without limitation as to rate or amount.
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Section S. Form of Bonds. The bonds shall be issued as
fully registered bonds and shall be in substantially the following
form, the blanks to be appropriately completed when the bonds are
printed:
INTEREST RATE
United States of America
State of Illinois
Counties of Lake and Cook
VILLAGE OF DEERFIELD
GENERAL OBLIGATION BOND,
SERIES 1991'
MATURITY DATE
DATED DATE
July 1, 1991
The VILLAGE OF DEERFIELD, a municipal corporation and a
home rule unit of the State of Illinois situate in the Counties of
Lake and Cook, acknowledges itself indebted and for value received
hereby promises to pay to
the
registered owner hereof, or registered assigns, the principal sum
of
Dollars on the maturity date
specified above, and to pay interest on such principal sum from
the date hereof at the interest rate per annum specified above,
computed on the basis of a 360 day year consisting of twelve 30
day months and payable in lawful money of the United States of
America on January 1, 1992 and semiannually thereafter on January
1 and July 1 in each year until the principal sum shall have been
paid, by check or draft mailed to the registered owner of record
hereof as of the 15th day of the calendar month next preceding
such interest payment date, at the address of such owner appearing
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on the registration books maintained by the Village for such
purpose at the principal corporate trust office of American
National Bank and Trust Company of Chicago, in the City of
Chicago, Illinois as bond registrar or its successor (the "Bond
Registrar "). This bond, as to principal when due, will be payable
in lawful money of the United States of America upon presentation
and surrender of this bond at the principal corporate trust office
of the Bond Registrar. The full faith and credit of the Village
are irrevocably pledged for the punctual payment of the principal
of and interest on this bond according to its terms.
This bond is one of a series of bonds issued in the ag-
gregate principal amount of $1,500,000, which are all of like
tenor except as to maturity and rate of interest and which are
authorized and issued under and pursuant to Section 6 of Article
VII of the Illinois Constitution of 1970 and under and in accor-
dance with an ordinance adopted by the President and Board of
Trustees of the Village on July 1, 1991 and entitled: "Ordinance
Authorizing the Issuance of $1,500,000 General Obligation Bonds,
Series 1991, of the Village of Deerfield, Illinois." This bond is
issued in accordance with the provisions of the Tax Increment
Allocation Redevelopment Act, as amended, for the purpose of
financing redevelopment project costs.
This bond is transferable only upon such registration
books by the registered owner hereof in person, or by his attorney
duly authorized in writing, upon surrender hereof at the principal
corporate trust office of the Bond Registrar together with a writ-
ten instrument of transfer satisfactory to the Bond Registrar duly
Ms
executed by the registered owner or by his duly authorized attor-
ney, and thereupon a new registered bond or bonds, in the autho-
rized denominations of $5,000 or any integral multiple thereof and
of the same aggregate principal amount, maturity and interest rate
as this bond shall be issued to the transferee in exchange there-
for. In like manner, this bond may be exchanged for an equal
aggregate principal amount of bonds of the same maturity and in-
terest rate and of any of such authorized denominations. The
Village or the Bond Registrar may make a charge sufficient to
reimburse it for any tax, fee or other governmental charge re-
quired to be paid with respect to the transfer or exchange of this
bond. No other charge shall be made for the privilege of making
such transfer or exchange. The Village and the Bond Registrar may
treat and consider the person in whose name this bond is regis-
tered as the absolute owner hereof for the purpose of receiving
payment of, or on account of, the principal and interest due here-
on and for all other purposes whatsoever.
This bond shall not be valid or become obligatory for
any purpose until the certificate of authentication hereon shall
have been duly executed by the Bond Registrar.
It is hereby certified, recited and declared that all
acts, conditions and things required to be done, exist and be per-
formed precedent to and in the issuance of this bond in order to
make it a legal, valid and binding obligation of the Village have
been done, exist and have been performed in regular and due time,
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form and manner as required by law, and that the series of bonds
of which this bond is one, together with all other indebtedness of
the Village is within every debt or other limit prescribed by law.
IN WITNESS WHEREOF, the Village of Deerfield has caused
this bond to be executed in its name and on its behalf by the
manual or facsimile signature of its Village President, and its
corporate seal, or a facsimile thereof, to be hereunto affixed or
otherwise reproduced hereon and attested by the manual or facsi-
mile signature of its Village Clerk.
Dated:
CERTIFICATE OF AUTHENTICATION
This bond is one of the General
Obligation Bonds, Series 1991,
described in the within mentioned
Ordinance.
AMERICAN NATIONAL BANK AND TRUST
COMPANY OF CHICAGO,
as Bond Registrar
By
Authorized Officer
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VILLAGE OF DEERFIELD
Village President
Attest:
Village Clerk
ASSIGNMENT
For value received the undersigned sells, assigns and
transfers unto
the within bond and hereby irrevocably constitutes and appoints
attorney to transfer the
said bond on the books kept for registration thereof, with full
power of substitution in the premises.
Dated
Signature Guarantee:
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Section 9. Levy and Extension of Taxes. For the
purpose of providing the money required to pay the interest on the
bonds when and as the same falls due and to pay and discharge the
principal thereof as the same shall mature, there is hereby levied
upon all the taxable property in the Village, in each year while
any of the bonds shall be outstanding, a direct annual tax suffi-
cient for that purpose in addition to all other taxes, as follows:
Tax Levy Year
1991
1992
1993
1994
1995
A Tax Sufficient to Produce
$ 424,650
367,500
351,300
334,500
317,400
Interest or principal coming due at any time when there
shall be insufficient funds on hand to pay the same shall be paid
promptly when due from current funds on hand in advance of the
collection of the taxes herein levied; and when said taxes shall
have been collected, reimbursement shall be made to the said funds
in the amounts thus advanced.
Interest on the bonds due January 1, 1992 will be paid
from that portion of the proceeds of sale of the bonds consti-
tuting accrued interest and from moneys on deposit in the Village
Center Special Tax Allocation Fund of the Village. An amount of
money equal to the interest on the bonds due January 1, 1992, less
the amount of accrued interest received by the Village upon the
issuance of the bonds, is hereby appropriated from the Village
Center Special Tax Allocation Fund for the purpose of paying the
interest on the bonds due January 1, 1992.
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As soon as this ordinance becomes effective, a copy
thereof certified by the Village Clerk, which certificate shall
recite that this ordinance has been duly adopted, shall be filed
with the County Clerk of Lake County, Illinois, and the County
Clerk of Cook County, Illinois, who are each hereby directed to
ascertain the rate per cent required to produce the aggregate tax
hereinbefore provided to be levied in the years 1991 to 1995,
inclusive, and to extend the same for collection on the tax books
in connection with other taxes levied in said years, in and by the
Village for general corporate purposes of the Village, and in said
years such annual tax shall be levied and collected in like manner
as taxes for general corporate purposes for said years are levied
and collected and, when collected, such taxes shall be used for
the purpose of paying the principal of and interest on the bonds
herein authorized as the same become due and payable.
Section 10'. Debt Service Fund. Moneys derived from
taxes herein levied are appropriated and set aside for the purpose
of paying principal of and interest on the bonds when and as the
same come due. All of such moneys, and all other moneys to be
used for the payment of the principal of and interest on the
bonds, shall be deposited in the 111991 Debt Service Fund ", which
is hereby established as a special fund of the Village and shall
be administered as a bona fide debt service fund under the
Internal Revenue Code of 1986. All accrued interest received upon
the issuance of the bonds shall be deposited in the 1991 Debt
Service Fund.
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Section 11. Bond Proceeds Account. All of the proceeds
of sale of the bonds (exclusive of accrued interest) shall be
deposited in the 111991 Bond Proceeds Account ", which is hereby
established as a special account of the Village within the Village
Center Special Tax Allocation Fund. Moneys in the 1991 Bond
Proceeds Account shall be used for the purposes specified in
Section 1 of this ordinance and for the payment of costs of issu-
ance of the bonds, but may hereafter be reappropriated and used
for other purposes. Before any such reappropriation shall be
made, there shall be filed with the Village Clerk an opinion of a
nationally recognized bond counsel to the effect that such reap -
propriation is permitted under Illinois law and will not adversely
affect the exclusion from gross income for federal income tax
purposes of interest on the bonds.
Section 12. Rebate Fund. The Village hereby estab-
lishes a special fund, designated as the 111991 Rebate Fund." In
the event that the Village shall invest moneys in the 1991 Bond
Proceeds Account or the 1991 Debt Service Fund in any investments
which generate income that must be rebated or paid to the United
States of America pursuant to Section 148(f) of the Internal
Revenue Code of 1986, such income shall be deposited in the 1991
Rebate Fund. Moneys in the 1991 Rebate Fund shall be applied to
pay such sums as are required to be paid to the United States of
America pursuant to Section 148(f) of the Internal Revenue Code of
1986 and are hereby appropriated and set aside for such purpose.
Moneys in the 1991 Rebate Fund may be reappropriated and used for
other purposes. No such reappropriation and use shall relieve the
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village of its obligation to make payments to the United States of
America as required by Section 148(f) of the Internal Revenue Code
of 1986.
Section 13. Investment Regulations. No investment
shall be made of any moneys in the 1991 Debt Service Fund, the
1991 Bond Proceeds Account or the 1991 Rebate Fund except in
accordance with the tax covenants set forth in Section 14 of this
ordinance. Except as required by Section 12 of this ordinance,
all income derived from such investments in respect of moneys or
securities in any Fund or Account shall be credited in each case
to the Fund or Account in which such moneys or securities are
held.
Any moneys in any Fund or Account that are subject to
investment yield restrictions may be invested in United States
Treasury Securities, State and Local Government Series, pursuant
to the regulations of the United States Treasury Department,
Bureau of Public Debt, or in any tax - exempt bond that is not an
"investment property" within the meaning of Section 148(b)(2) of
the Internal Revenue Code of 1986. The Village Treasurer and
agents designated by him are hereby authorized to submit, on
behalf of the Village, subscriptions for such United States
Treasury Securities and to request redemption of such United
States Treasury Securities.
Section 14. Tax Covenants. The Village shall not take,
or omit to take, any action lawful and within its power to take,
which action or omission would cause interest on any bond to be-
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come subject to federal income taxes in addition to federal income
taxes to which interest on such bond is subject on the.date of
original issuance thereof.
The Village shall not permit any of the proceeds of the
bonds, or any facilities financed with such proceeds, to be used
in any manner that would cause any bond to constitute a "private
activity bond" within the meaning of Section 141 of the Internal
Revenue Code of 1986.
The Village shall not permit any of the proceeds of the
bonds or other moneys to be invested in any manner that would
cause any bond to constitute an . "arbitrage bond" within the mean-
ing of Section 148 of the Internal Revenue Code of 1986 or a
"hedge bond" within the meaning of Section 149(g) of the Internal
Revenue Code of 1986.
The Village shall comply with the provisions of Section
148(f) of the Internal Revenue Code of 1986 relating to the rebate
of certain investment earnings at periodic intervals to the United
States of America; provided, however, that compliance with such
provisions shall not be required to the extent that there shall
have been filed with the Village Clerk an opinion of nationally
recognized bond counsel to the-effect that such compliance is not
necessary to preserve the exclusion from gross income for federal
income tax purposes of interest on the bonds.
Section 15. Bank Qualified Designation. The Village
hereby designates the bonds as "qualified tax - exempt obligations"
as defined in Section 265(b)(3)(B) of the Internal Revenue Code of
1986. The Village represents that the reasonably anticipated
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amount of tax - exempt obligations that are required to be taken
into account for the purpose of Section 265(b)(3)(C) of the Code
and will be issued by or on behalf of the Village and all subordi-
nate entities of the Village during 1991 does not exceed
$10,000,000. The Village covenants that it will not designate and
issue more than $10,000,000 aggregate principal amount of tax -
exempt obligations in 1991. For purposes of the two preceding
sentences, the term "tax- exempt obligations" includes "qualified
501(c)(3) bonds" (as defined in the Section 145 of the Internal
Revenue Code of 1986) but does not include other "private activity
bonds" (as defined in Section 141 of the Internal Revenue Code of
1986) .
Section 16. Tax Allocation Fund. The bonds are issued
for a purpose authorized by the Tax Increment Allocation Redevel-
opment Act (the "Redevelopment Act "). Moneys held in the Village
Center Special Tax Allocation Fund and the taxes (including Net
State Sales Tax Increment and Municipal Sales Tax Increment, each
as defined in the Redevelopment Act) and other moneys to be
deposited therein pursuant to the Redevelopment Act are hereby
pledged, to the extent permitted under the Redevelopment Act, for
the payment of Redevelopment Project Costs (as defined in the
Redevelopment Act) and as security for the payment of the prin-
cipal of and interest on the bonds authorized by this ordinance,
but nothing herein contained shall restrict the power of the
Village to pledge such moneys or taxes for the benefit and
security of additional bonds as authorized by the Redevelopment
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Act; to subordinate the pledge made by this ordinance or to alter
the use and distribution of moneys in the Village Center Special
Tax Allocation Fund.
Moneys held in the Village Center Special Tax Allocation
Fund, which are to be used for the payment of the principal of or
interest on the bonds authorized by this ordinance, may be depos-
ited in the 1991 Debt Service Fund, and upon such deposit such
moneys shall be used solely for the payment of such principal and
interest.
The pledge of Net State Sales Tax Increment shall be
limited to the payment of the principal of and interest on that
portion of the bonds, the proceeds of which were used for the
financing of- redevelopment projects located within the State Sales
Tax Boundary (as defined in the Redevelopment Act) of the
Village's Village Center Redevelopment Area. The Village shall
adopt accounting procedures with respect to the Village Center
Special Tax Allocation Fund for the purpose of maintaining records
sufficient for all purposes of the Redevelopment Act and
applicable regulations of the Illinois Department of Revenue.
section 17. Ordinance to Constitute a Contract. The
provisions of this ordinance shall constitute a contract between
the Village and the registered owners of the bonds. Any pledge
made in this ordinance and the provisions, covenants and agree-
ments herein set forth to be performed by or on behalf of the
Village shall be for the equal benefit, protection and security of
the owners of any and all of the bonds. All of the bonds, regard-
less of the time or times of their issuance, shall be of equal
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rank without preference, priority or distinction of any of the
bonds over any other thereof except as expressly provided in or
pursuant to this ordinance. This ordinance shall constitute full
authority for the issuance of the bonds and to the extent that the
provisions of this ordinance conflict with the provisions of any
other ordinance or resolution of the Village, the provisions of
this ordinance shall control. If any section, paragraph or'provi-
sion of this ordinance shall be held to be invalid or unenforce-
able for any reason, the invalidity or unenforceability of such
section, paragraph or provision shall not affect any of the re-
maining provisions of this ordinance.
Section 18. Publication. The Village Clerk is hereby
authorized and directed to publish this ordinance in pamphlet form
and to file copies thereof for public inspection in his office.
Section 19. Effective Date. This ordinance shall be-
come effective in the manner provided by law.
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follows:
Adopted this 1st day of July, 1991 by roll call vote as
Ayes: Ehlers, MaroVitz, Rosenthal, Seidman, Swanson (5)
Nays: None (0
Absent: Swartz (1)
A roved: July 1 , 1991
Village President
',Publishi�d i -n pamphlet form: July 2 1991
,
(SEAL)-
A�test: l'
11L
Vil7:ac�.e Clerk (Deputy)
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CERTIFICATE
I, Sharon K. Cromie, Deputy Village Clerk of the Village
of Deerfield, Illinois, hereby certify that the foregoing ordinance
entitled "Ordinance Authorizing the Issuance of $1,500,000 General
obligation Bonds, Series 1991, of the Village of Deerfield," is a
true copy of an original ordinance which 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
which was duly called and held at 8:00 p.m. on July 1, 1991 in the
Board Room at Village Hall, 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 July 1,
1991, and thereafter published in pamphlet form on July 2 , 1991
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 2nd day of July, 1991.
Deputy Village Clerk
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