R-11-07RESOLUTION NO. R_11 -07
RESOLUTION OF THE VILLAGE OF DEERFIELD, 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 DEERFIELD, ILLINOIS, 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 Deerfield, Illinois (the "Village ") has determined to
undertake the capital improvement projects described in Section 3 of this resolution and
to expend funds to pay the costs of such capital improvement projects.
Section 3. The capital improvement projects and their respective estimated
costs are as follows:
Project Estimated Cost
2011 Street Rehabilitation $1,000,000
Lake Cook Road Utility 950,000
Relocation
Carlisle /Carriageway Project 1,500,000
Central & Juniper Bridge 300,000
Construction
Deerbrook Lift Station 500,000
Library Remodeling 5,900,000
Section 4. The Village reasonably expects to be reimbursed for such
expenditures with the proceeds of bonds to be issued by the Village. The maximum
principal amount of debt expected to be issued for the reimbursement of such
expenditures is $9,900,000.
Section 5. This declaration of official intent is consistent with the budgetary
and financial circumstances of the Village.
Section 6. 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 7. This resolution shall be operative and effective upon its passage.
Adopted this 2nd day of May '2011
AYES: Benton, Jester, Oppenheim, Seiden, Struthers(5)
NAYS: None (0)
ABSENT: Farkas (1)
ABSTAIN: None (0)
APPROVED this 2nd day of May , 2011
(SEAL)
Attest:
Village CI rk
-2-
Mayor