R-85-19_.. ... _.
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STATE OF ILLINOIS )
COUNTIES. OF LAKE AND COOK ) SS
VILLAGE OF DEERFIELD )
The undersigned hereby certifies that she is the duly appointed
Village Clerk of the Village of Deerfield, Lake and Cook Counties, Illinois
and that the attached is a true and accurate copy of RESOLUTION NO. R -85 -19
in regargl to Deerfield's consent to the allocation to the County of Lake
the full "amount of its portion of the State Ceiling for calendar year 1985,
of industrial development revenue bonds.
passed by the President and Board of Trustees of the said Village at a regular
meeting thereof held on December 2; 1985 , and.now in full
force and effect, all as appears in the records and files of the office of the
Village Clerk. ,
Dated this December 27, 1985
Naomi S. Clampitt
.Village Clerk
SEAL
RESOLUTION NO. R -85 -19
WHEREAS, pursuant to Ordinance No. 81 -26 adopted by the Mayor
and Board of Trustees on April 6, 1981, and Section 103(b) of the
Internal Revenue Code of 1954, as amended (the "Code "), the Village
of Deerfield, a home rule unit of the State of Illinois (the
"Issuer ") located primarily in Lake County, Illinois (the "County ")
is authorized to issue industrial development revenue bonds for the
purpose of. financing in whole or in part the construction,
rebuilding, acquisition, improvement or extension of industrial
projects; and
WHEREAS, pursuant to the Industrial Building Revenue Bond Act,
Chapter 85, Section 871 et sec., Illinois Revised Statutes 1983, as
amended, and Sectin 103(b) of the Code, the County is authorized to
issue industrial develoment revenue bonds for such purposes; and,
WHEREAS, Section 103(n) of the Code currently limits the
aggregate principal amount of industrial development revenue bonds
which may be issued by all issuers in the State of Illinois in
calendar year 1985 to $1,717,839,300 (the "State Ceiling "); and
WHEREAS, pursuant to Section 103(n) of the Code the Issuer's
ortion of the 1985 State Ceiling is an amount currently estimated to
be $2,600,000; and
WHEREAS, the County has been allocated no portion of the State
Ceiling pursuant to the Illinois Private Activity Bond Allocation
Act, Chapter 17, Sectin 6851 et sect., Illinois Revised Statutes
1983, as amended (the "Act ") and Executive Order No. 5 (1985) (the
"Executive Order ") issued thereunder; and
WHEREAS, the Issuer has not issued any industrial development
revenue bonds during calendar year 1985; and
WHEREAS, the Issuer has determined not to issue any industrial
develoment revenue bonds during calendar year 1985; and
WHEREAS, it has been determined to be in the best interests of
the Issuer to facilitate the issuance of industrial development
revenue bonds for the purose of financing industrial and commercial
development in the County; and
WHEREAS, pursuant to the Act and the Executive Order the
corporate authorities of any home rule unit may reallocate to any
unit of local government all or any portion of its portion of the
State Ceiling;
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RESOLUTION NO. R -85 -19
WHEREAS, pursuant to Ordinance No. 81 -26 adopted by the Mayor
and Board of Trustees on April 6, 1981, and Section 103(b) of the
Internal Revenue Code of 1954, as amended (the "Code "), the Village
of Deerfield, a home rule unit of the State of Illinois (the
"Issuer ") located primarily in Lake County, Illinois (the "County ")
is authorized to issue industrial development revenue bonds for the
purpose of. financing in whole or in part the construction,
rebuilding, acquisition, improvement or extension of industrial
projects; and
WHEREAS, pursuant to the Industrial Building Revenue Bond Act,
Chapter 85, Section 871 et sec., Illinois Revised Statutes 1983, as
amended, and Sectin 103(b) of the Code, the County is authorized to
issue industrial develoment revenue bonds for such purposes; and,
WHEREAS, Section 103(n) of the Code currently limits the
aggregate principal amount of industrial development revenue bonds
which may be issued by all issuers in the State of Illinois in
calendar year 1985 to $1,717,839,300 (the "State Ceiling "); and
WHEREAS, pursuant to Section 103(n) of the Code the Issuer's
ortion of the 1985 State Ceiling is an amount currently estimated to
be $2,600,000; and
WHEREAS, the County has been allocated no portion of the State
Ceiling pursuant to the Illinois Private Activity Bond Allocation
Act, Chapter 17, Sectin 6851 et sect., Illinois Revised Statutes
1983, as amended (the "Act ") and Executive Order No. 5 (1985) (the
"Executive Order ") issued thereunder; and
WHEREAS, the Issuer has not issued any industrial development
revenue bonds during calendar year 1985; and
WHEREAS, the Issuer has determined not to issue any industrial
develoment revenue bonds during calendar year 1985; and
WHEREAS, it has been determined to be in the best interests of
the Issuer to facilitate the issuance of industrial development
revenue bonds for the purose of financing industrial and commercial
development in the County; and
WHEREAS, pursuant to the Act and the Executive Order the
corporate authorities of any home rule unit may reallocate to any
unit of local government all or any portion of its portion of the
State Ceiling;
r
NOW, THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE OF DEERFIELD, LAKE AND COOK COUNTIES,
ILLINOIS, AS FOLLOWS:
SECTION That the Issuer hereby irrevocably consents to the
ONE: allocation to the County of the full amount of its
portion of the State Ceiling for calendar year 1985.
SECTION That the Issuer shall not authorize or issue
TWO: industrial develoment revenue bonds during calendar
year 1985.
SECTION That the Village President of the Issuer is authorized
THREE: and directed to transmit a letter to the County
consenting to such allocation on behalf of the Issuer
as authorized by this Resolution.
SECTION That this Resolution shall be in full force and effect
FOUR: on December 2, 1985 in the manner provided by law.
AYES: MAROVITZ, MARTY, ROSENTHAL, SEIDMAN, SWANSON, YORK (6)
NAYS: NONE (0)
ABSENT: NONE (0)
PASSED this 2ND day of DECEMBER A.D., 1985.
APPROVED this 2ND day of DECEMBER A.D., 1985.
VILLAGE PRESIDENT
ATTEST:
1 1-1 ...
VILLAGE E• ,
MAYOR FORREST WITHHELD_HIS SIGNATURE._