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Home My WebLink About0440_001T epaTilvo UOqOw a 6 OuOk :SAPN UI990 UeA isiNsnpinw 1901OTa JAeliva JinqqjV :s9AV -*Tleo ljoi uoda *qTpne oq oaCcins a9qwqoq(j paqep qxodqa Tie-rc>upuTg aqq qd9oop 'L86T 'TE 6 w IVIDNVNIa 04 P9AOW 'siXsnejnW aaqsnal Aq pgpuooes isojola aeqsnal S77IS SAOUddV SSIDNIW SAOUddV lv• i M ,zPalligo UOTqOw a 0 -POTIJeD UOT40W OUON SsAeN 'W990 UeA ST%snejnW Isojola -ljntj-4jV #s9AV :TleD TTO n A 9 1.1 ea i uod *886T 19 Ajenupf PT9q saeqsnal go pipog pus joAPW aqq go 6uiqaew jeTn6ei aqq go seqnuiw aqq aAoidde o4 P9AOW 'AOTJea 991snil Aq papuooa; lanqqjV aaqsnal SZIDNIW SO 7VAOUcldV oinqqjV aaqsnil Aq UGA16 SRM UOTqPDOAUT 941 NOIJ;VDOANI 6jaqu9qqRt4 ajopoaqj aeqsnal :quesqV W09D UVA 96aoao 991snal STXsneinW euijoN 99qsnjj sOJOTa 09q aaqsnil AaTJra PTQJ9D aaqsnil jnqqjV x4dTP'd a9qsnjj asnvaX uAToiro joAPW QTTeD TTOJ uodn 4u9s9Jd IWO Ilou #W -d -4le J9PJO Oq 6UT-49OUl aqq asnejX joAeW ,OE:L P9TTvO USGUO 01 alvo 886T '6T Ajenuer IZ)ScISOUd INDOW SO SDVrlrlIA SHI SO SRSISfIUI SO GHVOS UNV HOLVW SHI aq,,,,-c)NIIZZW HVIODSH SHI SO SV, 'QNIW GUON :SAeN W990 UPA sTXsnpinW JSOIOTa JA9TJR3 'jnqqjV 0 -s9AV :TTeO TTOJ uodo 66C'8VI'T$ OOS T spuna 4UGwss9ssV TvToadS TtrLJOZ puna uoTsuad suawaila 89V"8z puna UOTSU9cl 90TTOd E09j8T puna 4Tsodaa moxDS2 9LZ'C puna qsnaL duiooxeTa LWOLZ spuna 90TAJ9S qqa(l 86T'LVT S saijaS puna UOTqonj4suoD A4TTTOP3 *M*d puna elsuoo quawdoTOAOPO'd UM04UMO(I 9691VTI S *ON Q9JV GDTAJOS TvloadS 0 EZ6jZT puna aTedad jo *Tda-d Jqu9U1,9AojduiI TPITdpo It 0 -j saTieS puna UOTqonjqsuoo AqTlTopa M a 0 0 OL86T oqsuoD qu9wdoT9A9p9U UM04UMOG SLZJV puna 4U9UI95PUPW XSTU L9Z-'E puna anu9A9%d W94SAS 6UI%Jgd 6 tr V " Z L. punj 96ejamaS I sNjomj9qpM 608' 6Spuna lu9w9JT49U TpdioiunW SlOuTTTI ZLTJS puna quejq -X:DOTS quaiudoT9A9(j AqTunwwoo 6VV"OT puna xQl Tana joqoW puna 6UTJPqS anu9A9U puna Ivaeueo I :sTTiq JO qSTT 5ulmOTTOJ OT44 9Aoiddp 04 P9AOUI $A9TJPa-99qsnjj, Aq papuooas JsOJOTa aeqsnal SrlrlIS SO IVAOUddV -POTIJeD UOT40W OUON SsAeN 'W990 UeA ST%snejnW Isojola -ljntj-4jV #s9AV :TleD TTO n A 9 1.1 ea i uod *886T 19 Ajenupf PT9q saeqsnal go pipog pus joAPW aqq go 6uiqaew jeTn6ei aqq go seqnuiw aqq aAoidde o4 P9AOW 'AOTJea 991snil Aq papuooa; lanqqjV aaqsnal SZIDNIW SO 7VAOUcldV oinqqjV aaqsnil Aq UGA16 SRM UOTqPDOAUT 941 NOIJ;VDOANI 6jaqu9qqRt4 ajopoaqj aeqsnal :quesqV W09D UVA 96aoao 991snal STXsneinW euijoN 99qsnjj sOJOTa 09q aaqsnil AaTJra PTQJ9D aaqsnil jnqqjV x4dTP'd a9qsnjj asnvaX uAToiro joAPW QTTeD TTOJ uodn 4u9s9Jd IWO Ilou #W -d -4le J9PJO Oq 6UT-49OUl aqq asnejX joAeW ,OE:L P9TTvO USGUO 01 alvo 886T '6T Ajenuer IZ)ScISOUd INDOW SO SDVrlrlIA SHI SO SRSISfIUI SO GHVOS UNV HOLVW SHI aq,,,,-c)NIIZZW HVIODSH SHI SO SV, 'QNIW /i WN` COMMUNICATIONS AND PETITIONS CITIZENS TO BE HEARD None. MAYOR'S REPORT LT.HAR.OLD B �R.R.A Mayor Krause presented a Resolution noting the death of Lt. Harold E, Barra, Lt. Barra passed away last weed from a heart attack. He was serving his 24th year on the Fire Department. In addition to serving on the Fire. Department, Lt. Barra was also the Director of the Mount Prospect Fire Cadet program for the past 11 years. RES.NO. 2-88 Trustee Murauskis, seconded by Trustee Van deem, moved for passage of Resolution No. 2-88 A RESOLUTION NOTING THE PASSING OF LIEUTENANT HAROLD E. BARRA Upon roll call: Ayes. Arthur, Farley, Floros, Murauskis, Van Geem, Krause Nays: None Motion carried. Mayor Krause presented a framed copy of the Resolution to family members Steve, Mike, Lorie and brother Don Barra. CPLD BUSINESS ZBA 69-z-87 & ZBA 69-Z-87 and 70-V-87, 747 South Meier Road ZBA 70-V-87 Ordinances were presented for second readings 747 S *MEIER RD that would grant a variation from the rear yard requirement and a modification from the Development Code to permit a front lob width on the cul de sac narrower than normally required, ORD.NO. 3885 Trustee Arthur, seconded by Trustee Farley, moved for passage of Ordinance No. 3885 AN ORDINANCE GRANTING A VARIATION FOR CERTAIN PROPERTY COMMONLY KNOWN AS 747 S, l EIER ROAD Upon rola. call: Ayes: Arthur, Farley, Floros, Murauskis, Van Geem Nags: None Motion carried. ORD.NO. 3886 Trustee Farley, seconded by 'trustee Arthur, moved for passage of Ordinance No. 3886 AN ORDINANCE MODIFYING SECTION OF CHAPTER 16 ENTITLED "DEVELOPMENT CGDE" OF THE VILLAGE CODE OF MOUNT PROSPECT Upon roll call: Ayes: Arthur, Farley, Floros, Murauskis, Van teem Nays. Nona Motion 8:arried. MEIER MEADOWS The Meier Meadows Plat of Subdivision, being the PLAT OF sub3ect of ZBA 69--Z--87 and ZBA 70-V-87, generally SUBDIVISION located at Meier Road and Lonnquist Blvd. was presented for approval. PageJanuary 19, 1988 3888 *ON*CIUO X007WSH COOT L8 -A -t8 V8Z RK.01MEGIMME141 S# ss HOUVqNS 000 L 0 L Ax- = K t %AL t Cy L-1 t:-- Cl -pallavo UOTqOw a I OUON :sAeN W990 UeA - 'siXsnPjnW 'sOJOTa JAOTJea JanqqjV *SOAV :TT,e;D TTO-1 uodfl SnNgAV XDOUWSH COOT SV NMONM AINOWWOD XIUSdOSd NIVIUSO UOa NOIIVIHVA V ONIINVUD SONVNIGUO NV 8888 -ON goupuipao go 95esspd JOJ P9AOUI 'sTNsnvjnW a9qsnjl Aq papuooes 'sOJOTa 9aqsnjl opailleo UoTqOw qUON a-SAPN W990 UPA 'STNsnvjnW 'SOJOTa 'A9TJva 'jnqqjV :s9AV :TTeD TTOJ uod a oeoupuTpio up go s6uippej omq buTjinbei 9Tnj aqq 9Aie Oq P9AOui 'sTXsnejnW aaqsnil Aq papuooas lsOJOTa aaqsni aqq qqim anuTquoo oq 9Tqv aq PTnom Aaqq jT ains qo 0 ajam Aaqq qoaCoid STqq JO 4SOO TleJ9AO 9q4 UO 6UTpueda Pup 008� ATOqeUlTxojdde si s9u'T T`P0T,J409T9 9q4 6ula4eOOT9 qqTm pe Isoo aqq qeqq paqpqs JqUOTqTqqd aq ATOAuT a -9POD 96elTT qqq qqTm 93UPPJODDe uT. s9uT.T jamod 31,J409TO 9qq 94eDOT9 Ueo JqUOTqTq9d aqq papiAoid qsanbei siqq 6uT-quej PqpUqwwo3qj sTeaddV go pjeog 6uTuoZ aqj. -9u',T buT,PTTn aqq puoAqq 4999 L Pup aul IT Aqj9dojd jeaj aqq wo-al. 4999 OT Tood punoj6 aAoqe up qTwied oq uoiqeijeA e quej PTnom qeqq buipeei qsjij jog paquasaid sem q0UeuTPjO U anueAV NOOTW9H COOT 'L8 -A -VS V9 *-4sT qojeW a aq TTTm 90ueuT,PIO sT.lq4 'bU,Tq99W qX9U JT9q4 qv sabueqo pasodoj 9qq MGTAGJ 04 A-4Tun-4joddo ajow auo 9NTT PTnom pjleo M9TAOU UbTS 9qJ 0qsT qoJeW uO PJeO9 96eTTTA Gq4 JO bul-499 4 JvTnbaj aqq oq panUT4UOD qq a94qeUl STq4 palsanbei esnea JOAPW 'PJVOS MaTA9-d u6iS aqq go saaquiew go qsenbai aqq -4 (suOT4PTn5O-d ubTS) a L aaqdpqo go suoTqoas snOTJeA PUGUI PTnom qeq4 6UTPPOJ PU009S Jog paquasaid SPM 93UeUTPJO U? 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Xj9TO PUP UbTS Oq JOAPW 9qq 9ZTJOqqne 0 04 P9AOW IsTNsnpinw aaqsnjl Aq papuoogs JsojoTa aaqsnil ZBA 85-A-87 & ZBA 85-A' 87 and 86-SU-871Walgreens (Mount Prospect Plaza) ZBA 86 -SU -87 ordinances were presentedifor first readings that wou �IALGREENS amend to that s6ction otithe Zo hing Ordinance (Chapter 14) (PLAZA) governing satellite dishes as well as a special use to permit 3 satellite dishes connected with the Walgreens retail store and the Intercom Facility located at the Plaza* ORD*NOo 3889 111ul STENOGRAPH CORP: CT -ASS 6b TAX r,Q r ,,,,i�EMPTION Trustee Floros, seconded by Trustee Farley, moved to waive the rule requiring two readings of an Ordinance* Upon roll call: Ayes: Arthur, Farley, Floros, Murauskis, Van Geem Nays: None Motion carried. Trustee Farley, seconded by Trustee Arthurr, moved for passage of Ordinance No. 3889 AN ORDINANCE TO AMEND CHAPTER 14 ENTITLED "ZONING" OF THE VILLAGE CODE OF MOUNT PROSPECT TO PROVIDE FOR CERTAIN CHANGES TO THE ZONING CODE Upon roll call -8 Ayes: Arthur, Farley, Floros, Murauskis, Van Geem Nays: None Motion carried. Trustee Arthur, seconded by Trustee Floros, moved to waive the rule requiring two readings of an Ordinance* Upon roll call: Ayes: Arthur, Farley, Floros, Murauskis, Van Geem Motion carried* Trustee Arthurr, seconded by Trustee Farley, moved for passage of Ordinance No. 3890 AN ORDINANCE GRANTING A SPECIAL USE FOR THE PROPERTY COMMONLY KNOWN AS MOUNT PROSPECT PLAZA Upon roll call: Ayes: Arthur, Farley., Floros, Murauskis, Van Geem Nays: None Motion carried* NEW BUSINESS A Resolution was presented that would endorse the application of Stenograph Corporation to apply for Cook County Class 6b Tax Exemptions,9 This request was presented to the Village Board at their Committee of the Whole meeting on January 12th at which time it was explained that this company is presented based in Skokie, Illinois, and would like to relocate within the Kensington Center for Business but would need the reduced taxes, as permitted under the Class 6b exemption offered by Cook County, in order to make the move financially. Members of the Village Board expressed their interest in supporting this request* Page 4 - January 19, 1988 *PaTJJeD UOT40W 9 a GUON :SAeN W990 UVA JsTxsnPinW lsojoTa lAeTzea JjnqqjV :saAV :TTeD TTOI uodo OU194SAS 4OT14STG AJeqTUeS SMOPPOW qoedsOJd aqq qd9ooe ATTPT80T.JJ0 04 �JPss9D9u squatunoop aqq eqnoaxe off. 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It is anticipated that bath recommendations will be presented to the Village Board February 2nd. 1988/89 BUDGET The Village Manager stated that the in --house budget process has taken place and the recommended budget for fiscal 1988/89 will be distributed to the Village Board this weekend for further . consideration* The regular budget hearings will be held beginning in February, following the Finance Commissions review and recommendations. It was also reported that the Food & Beverage tax receipts are running about as expected. ANY OTHER BUSINESS HISTORICAL Mayor Krause stated that inasmuch as a referendum MUSEUM: question of public policy relative to levering a FUNDS minimal amount for the purchase and maintenance of a permanent history museum will not appear on the ballot, it is necessary to _solicit financial support from the residents ,and businessmen of the Village. An information sheet and brochure are being prepared for distribution with the bi-monthly Village Newsletter and to local businesses. It was requested by the Mayor that the Board allocate $2,000 from the existing balance in the Board Representation portion of the budget In order to cover the costs of printing and distribution of this material. w Trustee Arthur, seconded by Trustee Farley, moved to authorize $2,000 from the Board Representation line item of the current budget to cover the cost of printing and distribution of an , information ,sheet and brochure pertaining to the proposed purchase and maintenance of a permanent history museum at 101 S. Maple Street. Upon rola. call: Ayes** Arthur, Farley, Floros, urausis, Van Ceem Nays: None motion carried& ADJOURN ADJOURNMENT Trustee Murauskis, seconded by Trustee Arthur, moved to adjourn the meeting. Upon roll call. Ares: Unanimous Motion carried The meeting was adjourned at 8:06 P.M. Carol A. Fields Village Clerk �. 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Some of the residents requested to make a one-time payment in lieu of a monthly surcharge. To arrive at an appropriate amount, I applied the residents percentage of the total cost and divided that amount by the number of residential users. To that amount, I added a 6% factor to compensate for the potential revenue that would be generated by the Excess Use Charge. * The result is a one-time payment of $1,070.00. Payments must be received by April 30, 1988 to be exempt from the surcharge. 6. The surcharge is in addition to the water rate and sewer maintenance rate. (Prospect Meadows residential water users have not been paying the Village's sewer maintenance rate. However, this rate will be added on to all water use after February 1, 1988.) All revenue realized by the surcharge will be applied to the actual costs of the District users on a monthly basis and will be eliminated when actual costs are amortized at 7.25% interest. 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The first phase was the new Busse Flowers building. It has been determined through meetings with developers and residents of the area that townhomes would be the best use for this vacant land. The proposal is for 9 buildings in a cluster type arrangement providing for 51 arbor home units. There will be 2 different units offered, some with 2 bedrooms and a den and a one car attached garage and 3 bedroom units with a 2 car attached garage. The floor area will range between 1,324 and 2,071 square feet, with the selling prices between $140,000 and $170,000. The internal roadway will be private and under the control of the homeowners association. In addition to the parking space or spaces in the garage, each unit will have the driveway as a parking area and in the event additional parking is required for guests, parking will be permitted on Evergreen, School and Elm Streets* The proposal includes a 6 foot high masonary fence along the rear lot line along Northwest Highway, , with an ornamental alcove every 50 feet. Mr. Hemphill stated that the landscaping to be planted will be the size as indicated on the artists rendering of the project. The tentative schedule for construction, following approval of the project, will be to begin this March with completed anticipated for May, 1990. The subject property presently has 3 different zonings, R-1, R-2 and a small portion being zoned B-3. Because the Village does not have a zoning category for townhomes, it is necessary to request R-3 (multi -family) zoning, as well as a special use in the nature of a Planned Unit Development and various variations from the Zoning Ordinance in order to build this project. Zoning Board members Basnik and Petrucelli expressed their concern that thedeveloper is not providing adequate parking spaces, especially spaces for guest.; and any overflow would interfer with the single family res idents. *t.--.-.qs9nb9j aqq qjoddns PTnom Aaqq 1pooqjoqqbiau aqq qoagge 40u PTPOm 409Jqs aqq go 5uiXjpd qeqq PGTJSTIPS ajam sjoqq6T9U 9ql JJ9A9M0q lbuTXjPdquaToi;gn . 0 s 9PTAojd 40u ZTTM qu9uid0T9A9P aqq qeqq sujaouoo jiaqq paqeadej sTeaddV go pipog 5uiuoZ aqq go sjaquieW 0 *OTJJPJ4 UeTjqsapad oq 9TqPTTPAP aq TITM P9JP 9q4 qvq4 P94vqs NJPd -JW *p9qPOeA aq oq u9ai5jaAs go uoTqjod qeqq qbnojqq OTqTssod aq TTT4s TTTm 0T,99Qa4 ueTjqsapad jT paXsp 'STnoq 'S LOZ 'qDuAq TITS qeaiqs Tooqos OS EZI iueqo-a lujal u99J5j9A2 -9 VOC 14J930H Tned :paquesaid se ;u9uid0T9A9p aqq JO J0APJ UT mods squapTsaj buTmoTTog aq, equawdOT9A9P JO adAq qeqq qTwjad oq japio uT SUOTqPTJPA bulquPJ6 Upqq JDqqPJ SuOTqPTnbaj Aq P9UJ9A05 aq PTnom S'quawoT94A9P ainqnj qeq4 os GOUPuTpio buTuoz aqq japun u0l,qp3TJTSSeTD asnoqumol P qJvjP oq gjvqs aqq Jog 9TqPSIAPP aq qq6Tw qT qeqq PqqPqs NTUSPS -jw a 4 -dTqspjeq jaqqoup S94P9JO aouvuTplo buTuoz aqq japun u0T,4v0l.JTsSPT3 asnoqumoq P 9Aeq qOU S90P 9bQTTTA @q4 4Pq4 qDeg aqq 'OSTV -dOT9A9p 04 4Tn0TJJTp 9j0J9J9qq pup adeqs Tvnsn uv sl Taojpd qoaCqns qq4 qeqq JqUoTqTqqd aqq Aq pa' sd-r' 4p4S SeM qT 'P9AI0AUT qsPjPq aqq 04 sv - squeulaTe uOuIu'00 994 90 T0J4U00 aXpq pTnom UOTqPTDOSSP qpqq qoalojd aqq JO UOTq9Tduioo uodn pup uoiqpToosse Sj9UM09U104 9 94P9JO 04 ST Tesodoid a Ll J, SqquOlu 8T go uinuiTUTUI P jog dTqsjaumo sjad0T9A9p aqq J9pun uTPw9j qsnui Aqjadoad aqq squawaiTnbei Clad aqq go qjvd sV opjooei go -40T V 0 uO 6uT,PTTnq upqq ajow oq anp paqs9nbaj sT qu9wd0T9A9Q 4Tun P9uuPTd Oql •u OTqPTJPA 0 4 jaqqoUv sajinbai qOTqM 15UTPTTnq aqq go qqbTaq aqq sp auips aqq aq I a 0 oq qqdap pjvA aqq S91Tnbaj buTuoz E --d `OsTV -Sbu',PTTnq go jaquinu aqq oq anp I%SS go uinUITXelU 9qq UPqq JaqqPJ JG5PJaA03 %09 P 0 svq quauidOTGA9p sTqq qpqq oq anp pup PGATOAUT soiqvd pup S9Tu00TPq aip ajaqq qpqq qopj aqq oq anp 46UTUOZ E -U japun 'ATTu'PJ-T4Tnw ueqq PuPT ajoui do @XPq sawoqumO4 4Pqq P9qP4s '5uT,uOZ Pup bul,uueTd JO J0q09JTQ JXJPd aAGqS 0 *SAPM9ATIP aqq UO PUP 95eleb aqq UT saopds aqq buipnTOUT Iseoeds 09T S9PTAojd Tesodoid aql -saoeds OCT ajinbaj PTnom quauidoT9AGP STqq 9POD aqq japun qpqq qno paquiod sem qI v go C abed 886T "TZ Aienuer 88-t 188-fis-S 188 -z -v viaz ZBA 4 -Z -88F 5 -SU -88t 6-V-88 January 21, 1988 Page4 of 4 Mr. Petrucelli, seconded by Mrs. Brothers, moved to- grant the R-3 zoning, as requested in ZBA 4-Z-88, Upon roll call: Ayes: Brettragerr Brothers, Lannon, O'Mayr Petrucelli, Basnik Nays: None Motion carried* Mrs. O'May, seconded by Mr. Lannon, moved to grant the Special Use in the nature of a Planned Unit Development, being the subject of ZBA 5 -SU -880 Upon roll call: Ayes: Brettragerr Brothers, Lannon, O'May, Petrucelli, Basnik Nays: None Motion carried* Mrs Brothers, seconded by Mrs. O!Mayr moved to grant the variations being the subject of ZBA 6-V-88* Upon roll call: Ayes: Brettrager, Brothers, Lannon, O'May, Petrucelli, Basnik Nays: None Motion carried* These recommendations will be forwarded to the Village Board for their consideration. Carol A. 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This property was the subject of complaints from 1980 - 1985 when DMS operated a mail order business. Due to the the volume of business, requiring 3 shifts and many employees, a parking problem existed causing disruption and inconvenience to the neighborhood. Following several years of problems caused by this business, the Village Board repealed the Ordinance permitting the reduceanumber of parking spaces and eventually the business moved and the building was put up for sale. The building has approximately 16,000 square feet, 5,300 of which is leased by Roy Thomas as a computer operation. The existing Lease with Mr. Thomas provides for his business to utilize 21 parking spaces. The Petitioner is requesting reinstatement of the variations, since the building cannot comply with the Village regulations governing the number of parking spaces for that size building. Mr. Diamant also stated that he cannot say what type of business would occupy the remaining 10,000 square feet since Mrs. Cupp has a 2 year lease on the building in Des Plaines so she would not be moving into the location until the term of the lease expires* It was noted that under the Village Code a warehouse use would require 16 parking spaces so the existing spaces would be sufficient without variations. However, the lack of loading would still make the property non -conforming. Mr. Diamant stated that Mrs", Cupp would comply with the regulations of the Village. It was also stated that she would commit to having a statement in any potential lease that the tenant must abide by Village regulations as to parking, etc. and if not the lease would be terminated. It was Mr. Diamant's contention that as it exists presently the building is unmarketable because it is non -conforming. The residents expressed the following concerns: What type of business would go into the bt.ilding? 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Page 2 January 21, 1988 a 24 0 clws s9jqvaoaoju9 SIT sea eav 40104M palveao asn aqj uo suoijBITmil pue p9AJOS9a aq Isnm pooch & -2oqq2iau aqq uo joedmi aql ealq1seag aq nem IT ueqq Isuaaouoo .. a 1p :iaqlo ano sseappe osle pue aouds 2ui>jaed qi7 ueq:l aaom Sup 0 9AV4 01 peau ou qlTm UOTjvjado go adAl elpos-mol e aqviluelsqns p1noo jueual pailTmmoo v gl -jupual caning v moaj quamiTmmoo v 3noqjjm 3sanbea pasodoad aqj laoddns jouuvo am 'Saemmns ul -,KllllqvTTP,&e sjT go 92palmou)l ou aAvq pup Aliadoid STqj 0 go s�ooTq go aldnoo v UTqjjm jol queoeA 9uo go ajeme Sluo aje am -9UO MIJS V ST aAvq Sem lueuel ainIng P 3pql S9T0U9l0Tj9p 2UTAaed AUP 9AlaS 01 :101 2UT)jjpd 9IOM9J V go not ado aqj • AI aadoad siql go malqoad :ls;9§2.iq aq:j X11VOTseq si :11 ;az)uis jaqjjn,j Sa91JVM 94VOTIdmoo pino.m seoeds go ssol Sup lasanoo go eseoeds ajom go ssoT v uvem p1nom spappuels ano laam of jol aqj 9AOjdmi of :Idm;9:13v Sue anq spappupIs joT 2ui>japd ano 39am you scop 11 -1no PTVj ST SP JV9pj IOU ST 101 2uiAaed aql '101 Sat :Iapd 2UTISTX9 aqj go uoTjjpuoo aqj qjTm, SUaOOu00 OAeq osle am -i-daoop 01 a9UMO STqj aOg UOTIIPUOD jjnoijgTp v aq neat jupue'l aanlng 8961 'TZ Zaenuer C 92Pa - :jTUSVq jTf) 0 -qquow lad SUOTTP5 000101 90 SS90X9 UI suOTTP6 0001T lad OL*O� Pup 95JPqD ATqquOw UTW 0 0 wnwi 0 . 0*6� :J949m a5eTTTA UTL1 buTsn pup a5PTTTA Gq4 4TM *V a 0 :5UTMOTTOJ 9144 sapnTOUT 96jpqoans smopPqW qoadsOld 9ql 't 'abPTTTA 9q4 apTsqno jqsn Aup jog qvqq 9Tqnop pup .Tun jad 0V' T$ oq .Tun j9d SZ*T$ W0.19 Paseajoui ueaq @APq siquioqsno J94em qou gito oqm siasn jam9S -96PTTTA aqq apTsqno siasn jog qunouip qpqq 9Tqnop pup 95PTTTA aq4 uTI44Tm siasn jog SuOTTP6 0001T led 0Z' 0$ oq 8T' 0$ UIOJJ P9SeOJOUT ale S94PI jqMqS OE *1949W J94eM 9q4 JO 9ZTS 9LIq uo paseq ale SqbJPqD qsqLJJ, -%OT AT9qPwTxoadd1e Aq paspajouT uaaq 9AeX4 S *0&1 P9JV 901AJ9S TPToadq go apTsqno ale oqm waqsAs JqqPm S195eTTTA aliq go sjasn 109 S96JeqD A4TTTqeTTVAP ATq4uOUI 9ql -Z sabvTTTA aqq apTsqno siesn jog qunowv, qeqq 91qnop pup 96eTTTA aqq uTqqTm sjasn jog SuOTIP5 l 000 ' T ad 0 OT*Z� 04 L6*T� wO.19' P9se9J0u-1 ale sa-4pa laqebi #1 a 0886T JT AeW 9ATqDaJJ9 S95Ueqo : HNO NOIJDSS :9DUeUTPJO aqq UT pgpnIDui sa6ueLlo aqq go Ajeuiwns e 5UT#MOTTO,4 ST *40TJ4sIcJ AjeqTUPs smopeow to qoadsoad sp umouX egip aqq JO SOTJppunoq 9q4 UTqqTM qjadoid jog 95jeqoans lamas P 4 P94eDOT sgi a qsl,Tqvqsg oq pup sage] lamas pup 194Pm 96eTITA 5UTqSTX9 PU91UP 04 9DUeUTPJO UP ST p9qopqqV 886T 16Z Ajpnuer EIIVCI qOUeUTPjO 94pu jaqpLA- : su 90UPUT3 go JOqO9JT(I Juosdar *3 pTAPQ ja6leuvW abpPTTTA 'UOXTQ uOqTna uqor :0J, wnGNV'8OW31N 3DIJJ0'd3INI PP4,1111 �w SIOU1111 (13adsOld junoW 171 . 6 Nw 4t SA, P -x'AI 4o eiBell!A ctoadsoic:1 :Iur January 29, 1988 Page 2 of 2 B. Within the Village and not using Village water: $15.00 monthly fee for residential users and $45-00 monthly fee for commercial users* C. Outside the Village and not using Village water; $30.00 monthly fee for residential users and $90-00 monthly -fee for commercial users with a maximum annual charge of $540.00 if water u,s,age is less than 360,000 gallons per year. SECTION TWO: Charges effective May 1, 1989. 1, Water rates are increasecifrom $2.10 to $2.28 per 1,000 gallons for users within the Village and double that amount for users outside the Village. 2. The monthly availability charges for users of the Village's water system who are outside of' Special Service Area No. 5 have been increased by approximately 10%. 3 41 sewer rates are increased from $0.20 to $0.22 per 1,000 gallons for users within the Village and double that amount for users outside the Village. Sewer users who are not water customers have been increased from $1.40 per unit to $1.55 per unit and ;double that amount for any users outside the Village. It should be pointed out that the residential users in the Prospect Meadows Sanitary District have been given the option of making a one-time payment of $1,070 in lieu of the proposed surcharge* 11 The time limit for exercising this option is April 30, 1988, and as a result, the Ordinance will need to be amended in May, 1988 to exclude any properties opting for the one-time payment. Additionally, the total cost of the project iss-estimated at this time and the Ordinance will need to be amended when the actual costs are known. I ar also attaching a copy of Article V of Chapter 22 of the Vil".-ge Code for information purposes. r ( � David C. Jepson Director of Finance DCJ/caf OV -O$ JoaJaqj uoTjjO6 lo pawnsuoo JGlsm JO SUOTT85 OOO'L sad :PaqSTunj ST @OTAJGS JGM9S qOTqM oq pawnsuoo jaqem jo junowe aqq uodn paseq GIBJ JaMaS bUTmOTTOJ aqq Aed TTeL4s 'sadTd JO SUTeW J@qBM PUB J@m@s GbBTTTA aqq qlTm UOTqOaUUOO qD@JTPUT JO q0GJTP B 6UTA8q @beTTTA Gql JO SqTWTT aqeaodjoo aqq @pTsqno siasn camas TTV -C -4Tun bUTTTGmP jad qquow sad (017-3) s4uaO X4JOJ JETTOP auO JO alBJ I8TJ e Xed TTBqs 'sadTd JO SUTEW J@qeM abeTTTA aqq qqTm qou pue sadTd JO SUTSW J@MGS @68TTTA Gqq qqTM UOTqDGUUOO qDGJTPUT JO jDaJTP 8 6UTAet4 abeTTTA aqj JO SqTWTT qqBjodjo3 @L41 UTL44TM siesn -jamas abeTTTA TTV -Z OZ -o$ JOaJBqq UOTqjod jo pawnsuoo jaqem jo SUOTTeb OOO'L J@d :PaqSTuanj ST 90TAJaS J9MaS qOTqM oq pawnsuoo jaqem jo qunows aqq uodn paseq laqej JaMaS bUTMOTTOJ aqq Aed TTeqs sadTd JO SUTeW JaqBM PUB JaMaS a68TTTA aqq qjTM UOTj0aUUO0 lOa-ITPUT JO 43aJTP 8 bUTABq '@beTTTA Gqj JO SqTWTT aqejodjoo aqq UTq4TM siesn jamas 968TTTA TTV OL 9488 60, :PBGJ 04 CbtoS*ZZ UOT409S JO j UOTqoasqnS bUTPUaWe AG (9) 00' 006 Ja4aw lie 00' 507 a@-4aw jig oo*ocz J948W 07 0009CL J94aw lic 00' 6L J@qqw liz 0508C aa4aw IIZA-L 00052 Japw IlL 5VCL Jaqqw 0717 00*6 $ J9-4aw 118/5 :SMOTTOJ se a-aqaw jaqem aqj 10 aZTS aqq uodn paseq abjeqo AITTTqeTTeAe ATqquOw TeUOTqTppe ue Aed TTBqs 9AT3 'ON eajV aDTAJGS TejoadS JO S8Tjepunoq aqq apTsqno PaqEOOT sarin abeTTTA TTV 03 OZ*i7$ JO@Jaqq UOTqJOd jo pawnsuoo SUOTTeb 0001L qoea JOj 9488 jalem :SaqeJ bUTmOTTOJ aqq Aed TTeL4s sadTd .10 SUTBW Ja4em 968TTTA qqTM UOTqOaUUOO qOaJTPUT JO 109JTP B 6UXABq a68TTTA aqj JO SITWTT aqejodaoo aqq apTs4no saasn abETTTA TTV -9 OL163 joajaqj uorqjod jo pawnsuoo Jalem 10 SUOTTe5 0001L qD89 JOj @488 jalem : sajej bUTmOTTOJ G41 Aed TTeqs sadTd jo SUTeW Ja4em @bETTTA q4Tm UOTj3aUUO0 q3aJTPUT JO 13aJTP e 6UTAe(4 'GbeTTTA 9q4 UTqqTM siasn GbeTTTA TTV -V : SMOTTOJ S8 P8GJ 04 Z*i705*ZZ UOTlb@S JO j PUB 'o 'V UOTqoasqnS bUTPUaWe Aq (V) :SmOTTOJ se papuawe Aqajaq ST 'STOUTTII lqoadsOJd junoW jo apoj a68TTTA aql JO ZZ jaqdeL43 jo ,saqed pue sJalaWia P@T4TIua A 9TOTIJV :3NO N01133S :SIONIIII 'AINnOJ A003 '133dSO8d INnOW JO 30VIIIA 3HI JO S331511a1 JO 08V09 (INV IN30IS38d 3HI A9 03NIVa8O 11 38 SIONIIII 'I33dSO8d INnOW JO 3003 39VIIIA 3HI JO ZZ 831dVH3 JO isS31V8 (INV S8313W,i (13111IN3 A 333I 18V GN3WV 01 33NVNIO80 NV 4ON 3JNVNI(180 4. All sewer users outside the corporate limits of the Village having a direct or indirect connection with the Village sewer mains or pipes, but not with Village water mains or pipes, shall pay a flat rate of two dollars eighty cents ($2.80) per month per dwelling unit, (C) By changing paragraph 5 of Subsection C of 22.504.3 to paragraph 10. (D) By adding paragraph 5 to Subsection C of 22.504.3 to read: 5. All Village sewer users within the corporate limits of the Village and within the limits of the district formerly known as Prospect Meadows Sanitary District as further listed in Section 22.510(A) having a direct or indirect connection with the Village sewer and water mains or pipes shall pay the following sewer surcharge based upon the amount of water consumed to which sewer service is furnished. Monthly fee of $9.00 and for each 1,000 gallons consumed or portion thereof in excess of 10,000 gallons per month $0.70 (E) By adding paragraph 6 to Subsection C of 22.504.3 to read: 6. All sewer users within the corporate limits of the Village and within the limits of the district formerly known as Prospect Meadows Sanitary District and as further listed in Section 22.510(B) having a direct or indirect connection with the Village sewer mains or pipes and not with the Village water mains or pipes, shall pay the following sewer surcharge: Monthly fee of $16.00 for residential property and $45.00 for commercial property (F) By adding paragraph 7 to Subsection C of 22.504.3 to read: 7. All sewer users outside the corporate limits of the Village and within the limits of the district formerly known as Prospect Meadows Sanitary District and as further listed in Section 22.510(C) having a direct or indirect connection with the Village sewer and water mains or pipes shall pay the following sewer surcharge: Monthly fee of $30.00 for residential property and $90.00 for commercial property, provided that the total annual sewer surcharge for any such commercial property shall not exceed $540.00 if total water used during any calendar year does not exceed 360,000 gallons, (G) By adding paragraph 8 to Subsection C of 25.504.3 to read: 8. The total of all sewer surcharge -evenue billed in accordance with paragraphs 6, 7, acid 8 of this Subsection C of 22.504.3 during any month shall be accounted for separately and shall be used to amortize the cost of certain sewer repairs totaling $275,000 at an annual interest rate of 7.250 until such time as the $275,000 plus interest is paid. (H) By adding paragraph 9 to Subsection C of 25.504.3 to read: 9. The sewer surcharge fees identified in paragraphs 7, 8, and 9 of this Subsection C of 22.504.3 shall terminate when the cost of certain repairs totaling $275,000 plus interest at 7.25/10 has been paid-, 4 m OPU JUTToqog OA 009 *8C *P8 >IUTToqog *M %t *LC OP8 MUTToqog 9M Z6V *9C *P8 >IUTToqoe eM qVt *�C epa >JUTToqog oM Vi7t *VC OP8 MUTToqog *M Ott *CC OP8 >IUTToqog *M 6CV OU OPU >IUTToqog eM qCt *LC *P8 >JUTToqog *M CCV *OC opd >IUTToqog OM ZCV *6Z *pa >IUTToqog OM 6ZV *8Z *PU JUTToqog OM Ht *LZ OP8 >IUTToqog *M SZt *qZ T8 >IUT.Toqog *A tZV *5Z *P8 JUTToqog eM LZj7 *VZ OP8 � UTToqoq *M OZt *CZ *P8 JUTToqog *M 6Lt *ZZ 0 PU JUTToqog *M 5 L *LZ *P8 >IUTToqog 9M CLV *OZ OPU >IUTToqog *M got *6L *pa >IUTToqog *M Lot *8L *P8 JUTToqog OM �OV 0 L L *P8 >IUTToqog *A tot *9L 'PU JUTToqog aM Lot o�L Owl UOTqTV *M 6Z9 *tL *Uj UOTqTV OM 8Z9 *CL *Uj UOTqTV *M �Z9 *ZL *Uj UOTqTV *M VZ9 *LL *Uj UOTqTV *M 29 *OL *Uj UOTqTV OM OZ9 *6 *Uj UOTqTV OM LL9 *9 *Uj UOTqTV *M 90 *L *Uj UOTqTV *M CL9 *9 -U-1 UOTqTV 'M ZL9- -S OUI UOTqTV *M 609 *V 'Uj UOTqTV OM 909 OC *Ul UOTqTV *M L09 *Z OUI UOTqTV OA 009 *L . :MOT@q P94STT @is � qdeibeied (J)C*to�OZZ UOT43aS UT p9TjTqUapT abjeqoans aqq oq qoaCqns IOTJqST() qoadsDJd SE umOul ATJ8wJOJ 40TJ STP aye.UT44TM AJ84TuBS SmOP8@W 4 PUB 8b8TTTA a44 JO S4TWTT aqRjodjoo aqq UT44Tm siasn j9m9s Gb8TTTA •V :peas 04 OL5-ZZ UOT43RS bUTPPe Aq (C) -anoOO TT84S AouanbUTTGP J@AaU@qM UOTqOaS STqq JO SUOISTAOid aqq GOJOJUG 01 aOUBUTJ JO JOqOaJTC) aqq jo Aqnp aqq aq TTeqs 41 -J@4em aqq uo buTuinq PUB JJO bUTqqnqs UT paianOUT SaSUaX@ JOJ (00.0S$) SJ8TTOP AqJTJ bUTpnTOUT 'PTad Uaaq aABq TT8qS SJ88JJB UT STTTq HE TTqun pawnsaa aq q0U TTBqs JJO qnqs uaaq seq qOTqM aOTAJaS JG48M -SaDTAJaS JJO qnqs j9qj aq J0Tjd sabjeqo quanbUTTaP @ql Aed oq IsAep (�) GATJ usq4 SSaT 4OU 'GWT4 JO PDTJad GTqeuoseaj a jawnswo Gq4 mOTTe jaqqjnJ TTEqs '@SJ@Ape JT iqOTqM JqOGJT(] GOUBUTJ aqq ajojaq sabjeqa pTedun qons oq qoadsai qqTM bUTJB@q e UTBqqo pue qsanbei oq AlTunqjoddo us pue ljojajaqq UDSe@J aL44 PUB 'SGDTAJGS qons jjo qnqs oq qU94UT JO @DT40U U@qqTJM ISABP (OL) U@4 4SBGT 48 UaATb aq TT84S jawnsuoo Oqq qBqq PGPTAoid liawnsuoo quanbUTTaP qons jo S@STWajd aqq wojj jjo qnqs aq AeW GDTAJGS J@48M aqq 'JOJ PaPTAoid quawaqeqs aqq jo aqep aqq wojj sAep AqXTS U8q4 adOw JOJ PTedun P8UT8W@J GABq 93,TAT@S J848M JOJ S;@bJe(4;0 JGAGU;9t4M *SaDTAJaS qons jcj S@bJ8q3 aqj 01 UOTqTPP8 UT anp aq TTeqs PUB oqajaqq pappe aq TTeqs sabjeqo qons jo qunOwe T840q 9q4 JO (%OL) quaoiad ua4 JO A4TBuad e PUB quanbUTTGP awoo@q TTeqS JOJ PGPTA0jd poTiad Asp (LZ) auo Aquamq Gq4 Ja4Je PTBdun STTTq TTV -sabjeqo qons sod luaweqeqs aqq jo alep aqq jaqje Asp qsjTj Aquamq aqq ajojaq JO uO @TqeAed pue anp aq TTBqs sabjeqo J@m8s PUB J@48m TTV -jjo qnqS GDTAJaS !AqTeu9d luawABd GqBl :PBGJ 04 L*90�GZZ bUTPUGWe Aq (1) 39. 601 W. Bobolink Rd. 40. 603 W. Bobolink Rd. 41. 604 W. Bobolink Rd. 42. 605 W. Bobolink Rd. 43. 607 W. Bobolink Rd. 44. 608 W. Bobolink Rd. 45. 609 W. Bobolink Rd. 46. 610 W. Bobolink Rd. 47. 612 W. Bobolink Rd. 48. 613 W. Bobolink Rd. 49. 616 W. Bobolink Rd. 50. 617 W. Bobolink Rd. 51. 620 W. Bobolink Rd. 52. 621 W. Bobolink Rd. 53. 624 W. Bobolink Rd. 54. 625 W. Bobolink Rd. 55. 628 W. Bobolink Rd. 56. 629 W. Bobolink Rd. 57. 600 W. Bunting Ln. 58. 601 W. Bunting Ln. 59. 604 W. Bunting Ln. 60. 605 W. Bunting Ln. 61. 608 W. Bunting Ln. 62. 612 W. Bunting Ln. 63. 613 W. Bunting Ln. 64. 616 W. Bunting Ln. 65. 617 W. Bunting Ln. 66. 620 W. Bunting Ln. 67. 621 W. Bunting Ln. 68. 624 W. Bunting Ln. 69. 625 W. Bunting Ln. 70. 628 W. Bunting Ln. 71. 629 W. Bunting Ln. 72. 400 W. Kensington Rd. 73. 404 W. Kensington Rd. 74. 408 W. Kensington Rd. 75. 412 W. Kensington Rd. 76. 416 W. Kensington Rd. 77. 420 W. Kensington Rd. 78. 424 W. Kensington Rd. 79. 428 W. Kensington Rd. 80. 600 W. Kensington Rd. 81. 604 W. Kensington Rd. 82. 608 W. Kensington Rd. 83. 612 W. Kensington Rd. 84. 616 W. Kensington Rd. 85. 620 W. Kensington Rd. 86. 624 W. Kensington Rd. 87. 628 W. Kensington Rd. 88. 400 W. Larkdale Ln. 89. 401 W. Larkdale Ln. 90. 404 W. Larkdale Ln. 91. 405 W. Larkdale Ln. 92. 407 W. Larkdale Ln. 93. 408 W. Larkdale Ln. 94. 411 W. Larkdale Ln. 95. 412 W. Larkdale Ln. 96. 415 W. Larkdale Ln. 97. 416 W. Larkdale Ln. 98. 419 W. Larkdale Ln. 99. 420 W. Larkdale Ln. 100. 422 W. Larkdale Ln. 101. 423 W. Larkdale Ln. 102. 424 W. Larkdale Ln. 103. 427 W. Larkdale Ln. 104. 428 W. Larkdale Ln. 105. 600 W. Larkdale Ln. 106. 601 W. Larkdale Ln. 107. 605 W. Larkdale Ln. 108. 608 W. Larkdade Ln. 109. 609 W. Larkdale Ln. TH Pue8 *M OOL *9LL TH PueH *M Off OSLL *P8 PueH *M M *VLL *'P8 Pued OM LOZ *CLL T8 PU88 *M 66L *ZLL ,*P8 PuBd OM CL *LLL op8 Pus *M L OOLL *P8 PuB8 OM CZ9 *69L OP8 PuB8 *M 60 *89L T8 PuB8 *M SO *L9L p8 pued Om LO 1199L *P8 PuB8 OM L09 *S9L PU88 Om S09 et% *'PH PUBH em C09 OC9L op8 pueU *M CSt *ZgL T8 PUBU *M S VV OOL *p8 pue8 *M LVV *09L joueW qoadsOJd sN OOOL *6SL joueW qoadsOJd &N tC6 *8SL joueW qoadsOJd -N OC6 "LSL jouaW qoedsOJd -N tZ6 -9SL sOueW qoadsDJd -N ZZ6 `SSL jousW padsoad *N 8L *tSL joueW qoadsOJd -N tL6 OM jouaW qoedsOJd -N OL6 *ZSL joueW qoadsOJd &N 906 *LSL *ul 9TOTaO OM 6Z9 *OSL *ul aTOTJO *M 9Z9 06VL *ul aTOT.dO *M SZ9 *BVL *Uj aTOTJO OM W9 OLei L *ul OTDTJO OM LZ9 *gtL *ul aTOTJO *M OZ9 *SVL *Uj aTOTJO *M LO OttL *ul aTOTJO *M 9L *CtL *Uj aTOTJO *M CL9 eZtL *Uj aTOTJO `M ZL9 *LVL *ul 9TOTIO *M 609 OM *ul aTOTJO 'M 809 *6CL *ul aTOTJO *M Sog *OCL 'Uj aTOTJO •M V09 OLCL *Uj aTOTJO *M 'Log *gCL *ul aTOTJO OM 009 *SCL *Uj OTOTIO *M BZV *VCL *Ul aTOTJO *M LZt *M *ul aTOTJO *M tZt *ZCL *ul GTOTao 'M CZt *LCL *ul GTOTao *M OZJ7 *OCL *ul aTOTJO *M 6 07 *6U 'UI aTOTJO *M gLt *BZL *Ul aTOTJO *M SO OLU Oul aTOTJO OA ZLt *gZL *ul aTOTJO *M 80t *SZL *ul aTOTJO *M Lot *tU :ul aTOTJO 'M Sot 'CZL u- aTOTJO OM Vo t *ZZL : ul aTOTJO -M Lot -LZL ul aTOTJO *M OOV *OZL *ul GTBP>IJBI *M 6Z9 *6LL *ul @TBP>IJBI *M 8Z9 *M *ul GTBP>IJB� *M SZ9 *LLI *ul @TBP>lJel *M tZ9 *9LL Oul aTBPIJBI *M LZ9 *5LL *u`! OTeP>IJBI *A OZ9 " 17 L L *ul @TEPIJEI *M LL9 *M * u-I @TBP>IJBI 'M 90 OUL *ul GT8P>1Jel 'M CL9 *LLL *ul @TeP>IJBI *M U9 *OLL B Village sewer users within the corporate limits of the Village and within the district formerly known as Prospect Meadows Sanitary District subject to the surcharge identified in Section 22.504.3(C) paragraph 6 are listed below: 1. 630 West Rand Road C. Village sewer users outside the corporate limits of the Village and within the district formerly known as Prospect Meadows Sanitary District subject to the surcharge identified in Section 22.504.3(C) paragraph 7 are listed below: 1. 305 East Rand Road Arlington Heights, IL 60004 d 2. That property located at the Northwest Corner of the intersection of Rand Road and Euclid Avenue. SECTION TWO: The water and sewer rates established by Section One of this 401 "1 Ordinance shall be effective for billings subsequent to April 30, 1988. SECTION THREE: Article V entitled "Meters and Rates" of Chapter 22 of the Village Code of Mount Prospect, Illinois, shall hereafter be amended as follows: (A) BY hereafter amending Subsection A, B, and C of Section 22.504.2 to read as follows: A. All Village users within the Village, having a direct or indirect connection with Village water mains or pipes shal,l-pay the following rates: Water Rate For each 1,000 gallons of water consumed or portion thereof $2.28 B. All Village users outside the corporate limits of the Village having a direct or indirect connection with Village water mains or pipes shall pay the following rates: Water Rate For each 1,000 gallons consumed or portion thereof $4.56 C. All Village users located outside the boundaries of Special Service Area No. Five shall pay an additional monthly availability charge based upon the size of the water meter as follows: 5/811 meter $ 10.00 3/411 meter 15.00 111 meter 27.50 1-1/211 meter 42.50 211 meter 87.00 311 meter 150.00 411 meter 250.00 meter 475.00 811 meter 990.00 (B) By hereafter amending Subsection C of Section 22.504.3 to read: C. Rate 1. All Village sewer users within the corporate limits of the Village, having a direct or indirect connection with the Village sewer and water mains or pipes shall pay the following sewer rate, based upon the amount of water consumed to which sewer service is furnished: Per 1,000 gallons of water consumed or portion thereof $0.22 0 M qu@PTS@Jd GbBTTTA MJGT3 abBTTTA : IS311V IN3S8V : SAVN : S3AV '886L jo ABP STqj 03AO8ddV PUB G3SSVd -m8T 4gTM @0uuPa0008 UT WJ0j 4GTqdwed UT UOTIBDTTqnd pus 'TBAoidde labassed sqT uodn qoajje PUB aojoj TTnj UT aq TTB'49 GOUBUTPJO STql y3AD N01133S *6B6L 'OC TTjdV oq quenbasqns sbuT.TTTq sod. 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SGTITinDes TedToTunW qdwax3-XBI JO 000'00 '6$ GJTnbou 04 qUGbB SIT SE -Oj U SUTqoqnH SqUTodde jaqqjnj abeTTTA aq PUB 886L V AGTJ3 AG>iOOt4OS ' 0 SGTJGS 'SPU09 UOTqBbTTqO T8Jau@0 40 000 4 Oos 6 6$ uBq4 @JOw IOU JOJ SJ@qTjmjapun SIT SB -03 V A@TJ3 1Ao>poqS 'UOSUTqDqnH SqUTodde Aqajaq qoadsOJd qunoW jo abeTTTA Gqi :3NO NOl1335 :SIONIIII 'AiNnoi Aooj '133dS08d INnow jo 30V IIIA 3HI JO S331sndi JO adVO9 (INV 80AVW 3H1 AB 03AIOS38 11 39 '3803383HI 'MON " panSST aq PTnoqs 958TTTA aqq JO SPUOO UOT486TTq0 TsJau@O 48qq PaUTWJGq;gp saq abeTTTA aqq, squaw -aAoidWT PUB GJTedai jamas pue qaajqs qons bUTOUBUTJ jo asodind aqq joj 'SV383HM PUB !wGqsAs James PUB sqa@Jqs S,968TTTA aqq oq apew aq PTnoqs SqU@W@AoidWT PUB SJTedaj UT84JGD qBqq PaUTWJaIGP S8q qoadsOdd qunoW jo abeTTTA 3HI 'SV3d3HM *SGNOO alVS 80J 13SNnoi ONOG SV SIAVZ V NlHjnw 'N311VA (INV 80SIAGV IVIJNVNIJ SV S31VIJOSSV (INV 3N38ON *A *8 aNV 886L S3183S GNOO NOlIV91100 �V83N30 S,133dS08d Anow AO 30V311A 3HI dOJ S831l8M8300 sv 003 V A3183 'A3AJOHS 'NOSNIHJinH 1NlOddV 01 NOi1n3OS38 V *ON NOlinlOS18 SECTION TWO: The Village of Mount Prospect hereby appoints R. V. Norene & Associates as its Financial Advisor for the General Obligation Bonds, Series 1988. SECTION THREE: The Village of Mount Prospect hereby appoints Katten, Muchin & Zavi,s as Bond Counsel for the General Obligation Bonds, Series 1988, SECTION FOUR: This Resolution shall be in full force and effect from and after its passage and approve in the manner provided by law, AYES: NAYS: PASSED and APPROVED day of 9 1988. Carolyn H. Krause, Mayor ATTEST: Carol A. Fields, Village Clerk bUT#AJT4u9PT goes apaq Aput pup aoupnssT aTaqq go a9pao uT spapmdn T mOJ; AT9AT4noasuoo pajaqmnu aq TTPT4s spuoq -;0a29q4 9TCTT4 -TnUt TPa594UT Aug 20 00019� ;0 SUOT49UTUIOU9p atJ4 UT aTqpnsST aq 0 41 0 0 8 TTvtls PUP 'n886T S9T-19S 1SPU09 UOT4PBTTqo Tva9U9011 P;94PUbTS;9P aq 0 Tlpqs go qunomv UT TpdTOUTad aqpbaabbp UP PIOS PUP 0 0 9 pansST aq TTvqs 9bvlTTA 9x14 ;0 spuoq UOT4VbTTqO Tsa9u9b 'UOT4VTad 6 a t 0 a -oadde PTPS BUTOUVUT; go asocland aqq aoa 4 a go urns aqq paqpTadoaddp Aqeaaq ST 9a9q4 'POZTaoqqnp UT9a9q spuoq aqq go 9OUVnSST 90 S4SOO 9144 PUP 9OUVUTPaO STq4 JO T UOT409S UT paqTaOs9P 0 0 0 a a sesodand ao Pa4PMT squama.&oadaT 9q4 JO 4SOD qsa aqq go 4apd 0 11 499M 01 'SPUOa ;0 SMZGI Puv U0Ts4vzTx0q4nV *Z UOTS409S OSTOUTTTI lqoadsozrd a 0 qunow go abRITTA aqq Aq uaXp4aepun ao epvm eq oq pazTaoq4np Aqeaeq 0 qopa eap sasodand as squameAoadMT bUT0b9a0; 9ql -AoTlod aouvansUT 0 -0 6 8 puoq TpdTDTUnM P Aq paa4upapnb aq TTPqs spuoq TpooT pup a4p4s * a qOnS UO 4S8a94UT PUP ;0 TpdTOUTad aqq go quamA-ed aqL - {,,punct 11 V 4 1 m0a0sau Oq4) Pung mOzOsO up UT P94Tsodap aq o4 (986T ;0 9POD 9nU9A9U TPUa94UI 9q4 90 COT UOT409S UT P9UTj9P SV) SPUOq TPOOT pup 94vqs go aspqoand aqq pup 9beTITA aqq UT SZ9M9S PUP S498a4S go 0 qU9M9A0adMT 9q4 bUTOUVUTJ go asodand aqq aoj OL6T ;0 UOTqnqTqsuoo 0 a I I STOUTTTJ OT44 ;0 IIA UOT 9TOT4ay JO 9 409S oq qupnsand pa4dopv 0 0 ST 90UPUTPao, sTql ossodand puv XqTzoq4ny vT uoT4oeS a 0 a 0 0 :smcririoa sv oNiarii lioadsoud iNnow do aDvqriiA alll do saaisaui do Gavoq aNv iNaaisaua alll Aq caNIVUUO ii aq SIONIUai 110adsoud INnow do aDvIrIIA alll JO 1886T SaIllaS 'SGN09 NOILVDIrIgo rjydaNa!) $ do aONVIISSI alll DNIZI*d0HIfIV aONVNIGHO *OR aoNvxiauo numbers or letters as shall be useful to facilitate the registra- tion, transfer and exchange of bonds. Unless otherwise determined in the order to authenticate the bonds, each bond shall be dated as of the interest payment date next preceding the date of issuance thereof, except that (a) if such date of issuance shall be prior to the first interest payment date, said bond shall be dated as of 19 (b) if such date of issuance shall be an interest payment date, said bond shall be dated as of such interest payment date, or (c) if interest due on said bond shall not have been paid in full, then notwithstanding any of the fore- going provisions, said bond shall be dated as of the date to which interest has been paid in full on said bond. The bonds shall mature on 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: Year Principa,l",.Amount Rate of Interest Each bond shall bear interest from its date, computed on the basis of a 360 day year consisting of twelve 30 day months an4j payable in lawful money of the United States of America on 19 and semiannually thereafter on each and at the rates per annum herein determiner. The principal of and premium, if any,, on the bonds shall be payable in lawful money of the United States of America upon presentation and :M MnTM9ad UOTqdui;apau POTa;Dcl UOT a Is 6 a, uz pau :POTaed 0 ,qons aqTsoddo qqao; qas lqunomp IRdTouTad qons go abvquaoaad P sv passeadxa OMnTmaad UOT4dmapea eTqvDTTddp aq4 IaTqv4 BUTOMOTTOJ 9q4 UT UMOT4S P'OTaed Au2 BUTanp P9U19apaa aq off. ST puoq 0 Bons j 'snTd pameapea aq o4 joaaaqq qunomp TvdTouTad aq4 o4 Tvnba 0 a 9OTTad UOqdM9p9a V 4P 94Vp 4 a 4U9MAVd 4S9a94UT AUP UO PUP 6-1 uo lA4Tanqvm 9TbuTs P UTq4Tm 40T Aq PUP A4Tan4Pm 90 a9PaO 9Sa9AUT UT 9OT40U uodn puv 0 a JP9PTAOad uT.ea9q sv 0 9beTIT11 9q4 go UOTqdo 9q4 4V A4Tan4VUt 04 aOTad UOTqdmapaa o4 qoeCqns 9q TTvqs 6T aa4gp acs UO buTan4vm gpuoq 9,41 UOT [SUOTSTAOad qduepaU AaoqppuvKl a 0 a sXooq uoTqva4sTbqa qxI4 Ol Is UO bUTavadde SaSS9appe aT9q4 qe Sa9UMO P9a9qSTb9a qOTIS Oq. P91TVUI qjeap ao Xoaqo Aq PTed aq TTeqs spuoq aq4 uo 4saaa4uj -94ep 4uauL-Ked 4S9a94UT aTqeoxlddR aq4 BuTpaoaad 4x9u tt4uOm aQPU9TeO aq4 go Aep 9q4 UO SS9UTSnq JO 9SOJO 9qq go SP jZea4STb9X PUOq aq4 JO 90TJia qsnaq 94eaodaOO TedTOUTad eqq 4P asodand eons 0 a a aOJ 9beTTTA aq4 Aq P9UTe4UTeM SXOOq UOTqea4STb92 9q4 UO bUTapadde 0 0 a 1 6 ;09a944 PaOO9a 0 SaaUMO P9a8qSTb9a 9qq 04 94VP 4U9UIAVd 4S9a94UT qova uo alqpApd aq TTPqs SPUOq 9q4 UO 4s9aa4UI -sPuoq aq4 aO; 4U9bP bUTAPd PUP aVaqSTb9a puoq see P94UToddp Aq9a9q ST qOTqM 'STOUTTTI 'PT9TgbUTadS go AqT3 9q4 UT 'PT9TjBUTadS JO XUVq 9UTaPpj a 0 A a a a 0 go aoT.;jo 4sna4 aqvaodaOO TvdTouTad 9T44 4P joaaaq4 aepuaaans In the event of the redemption of less than all the bonds of like maturity, the aggregate principal amount thereof to be redeemed shall be $5,000 or an integral multiple thereof and the bond registrar shall assign to each bond of such maturity a distinctive number for each $5,000 principal amount of such bond and shall select by lot from the numbers so assigned as many numbers as, at $5,000 for each number, shall equal the principal amount of such bonds to be redeemed. The bonds to be redeemed shall be the bonds to which were assigned numbers so selected; provided that only so much of the principal amount of each bond shall be redeemed as shall equal $5,000 for each number assigned to it and so selected. Notice of the redemption of bonds shall be mailed not less than 30 days nor more than 60 days prior to the date fixed for such redemption to the registered owners of bonds to be redeemed at their last addresses appearing on said registration books. The bonds or portions thereof specified in said notice shall become due and payable at the applicable redemption price on the redemption date therein designated, and if, on the redemption date, moneys for payment of the redemption price of all the bonds or portions thereof to be redeemed, together with interest to the redemption date, shall be available for such payment on said date, and if notice of redemption shall have been mailed as aforesaid (and notwithstanding any defect therein or the lack of actual receipt thereof by any registered owner) then from and after the redemption date interest on such bonds or portions thereof shall cease to accrue and become payable. If there shall be drawn for �4- ao TEnupux aqq Aq abeTTTA agq 90 auzVu aqq UT pagnoaxa aq TTegs puoq goes •uOT4EOTqu9g4nV puv uoT4noexa 'y uoTgoas -spuoq agq go aOTad asegoand jjnj eqq go quauuAed uodn qaaui9qv4S TeTOTJJO 9q4 PUP spuoq aqq JO Aa9ATTap pine uaTgnoexe a9doad aqq buTPnTouz 'spuoq aqq 90 aouenssz agq aoj A.xessaoau buTgq &2999 Pine gOea abeTTTA agq 90 J Tegaq uo ao aoj pamao jaed ao auop aq oq asneo ao ' uuo;aad PUP Op oq PagO9aTp pine P9ZTaoggne Agaaaq eap abeTTTA agq go sTPTOT3;o a9g4a pine :4aaTo abeTTTA 'quaptsaad abeTTTA aql • p9AOaddv Agaaaq ST spuoq a-qq oq goadsga 44TM pa,zedaacd quauzagegs TeTOT;3o 9qj - aojaaagq quamAvd pue Aa 9ATTaP go ageP aqq aq e4VP xTagq M02; gsaaaquT PanatOOe Pine $ uegq ssaT qou go aOTad a q�e ' ae►svgoacnd se ' • oo I AeTaa ' A9XOOgS ' uosuTgOgnH oq spuoq auq TTas oq qu9PTs9ad abeTTTA auq oq PagebaTap Agaaag ST AgTaOgqn)f •,Kae Tiea pue attar o £ uoT4oes puoq guns go uoTgaod a ao. ZIP' UOTgdmapea ao j ageubz sap pTnaO gOTgMuoTgdtapaa go OOT40U a 3o buTTTEagq buTpeoead gxau sAep 91 • POTaad bUTanp • • •AUV BbUVqOX9♦a99SUVa4• p92Tnbaa as .z9jsuVa4 aq P92Tnbaa aq qou TTegs aPa4sTb9a puoq aql • 909aauq OTdTq -- nut Tgabaquz Aue 20 000' S$ JO uaTgeutuxouaP aqq go Pine AgTzngeur 94TT 90 spuoq 'P9a9Pu9aans as Puaq aqq 90 aOueTeq P9nx99p9aun agq ao; l joaaag4 a eumo auq oq abavgo 4nOq4TM ' puoq eons go aapuea -ans aqq uodn 'a9ATTap Pine agPOTquaggne TTegs a VagsTb9a puoq agq pine agnoaxa TTvgs abVTTTA aqq 'Puaq 9 90 TTV uegq ssaT uOTgduzapa.z authorized facsimile signature of its Village President and the 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 authen- tication 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 authentication 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 registratf-Li-Jt books maintained by the Village for that purpose At the principal corporate trust office of the bond registrar, by the registered owner thereof in person or by his :M �L¢ agg uodn paaagszbaa aq TTvgs puoq Aua 9MVU asogM UT uosaad agg gPaag Pue UI99P APM aeagSTbaa puoq aqq pus abeTTTA aqs -spuoq paovjap ao paAoagsap 14SOT 90 guamaoETdaa aqg uxa,&ob TZpgs go -f guamaoQTdau puog sTOUTTTI aqq 90 SUOTSTAoad aqs •abusgoxa ao aagsuaag gons buTXeM Jo abaTTATad aqg aoj aPam aq TTsgs 9b2ago xagga ON •aagsuaag ao abuauoxa gons buTxeUI g0 abaTtAz d agg 90 OSToaaxa agg og guapaoaxd UOTgTpuoo E sa aajsueag ao abuegoxa gons buTgsarbaa uosaad aqg hq pTed aq TTvus SMns aO UEnS gOTgM 'aaj -suaag ao abuvgoxa gons og goadsax ggTM pzad aq og paaTnbaa abaego Te4u9u'ua9AOb zaggo a4 999 'x94 Lug aoi qT asxngmTaa 04 guaTOTjjns abaago a 94EM AeM aeagsTbaa puoq agg ao abaTTTA agg 'spuoq 90 aajsUgag 90 UOTgaagsTbaa aO abuEgoxa gons Aaana X03 •joaaagg aTdTgTnu TpxbaguT Aue ao 0001S$ 3o suoTgpuTmouap aqg 3o Pua agEa gsaaaguT pue Agzangam amps aqg 3o spuoq go gunoma TedTOUTad agpbaxbba Tvnba up aoj pabuagoxa aq Avm 'buTgTaM UT pa2Txoggna ATnp A9uao44P sTq ao aauMo PaaagsTbax agg Xq pagnoaxa ATnp '29agsTbaa puoq agg Og AaO4OVjST4PS guamnagsUT uag4TaM U ggTM 'aaagSTbax puoq agg J0 OOTJJO gsnUq 94eaodzoo ZedTOUTad agg 42 joaaagq aapuaaans uodn 'spuoq puoq paaapuaaans agg se agea gsaaaguz puggzzngv 'gunoma TvdTouTad agvbaabbv amps aqg go 'aaaa;supag auq go ampu aqg UT paaagsTbaa spuoq ao puoq Mau a xahTap pus agoTgu9ggnE TTeus aPagSTbaa puoq aqg pUP agnoaxa TTvgs abvTTTA agq 'PUoq gons Aug go aagsuEag jo; aapuaaans agg uodfl *Aauaogga pazTaoggnP ATnp szq ao JauMO paaagsTba aqg q pagnoaxa nP PuE zaagsTbaa puoq aqg 04 Aao43VjST4VS a9jSUVa4 90 guaMnagsuT uaggTaM e g4TM aaugab -04 joaaagg aapuaaans uodn 'buzgzaM uT pazTaoggnp ATnp Aauaoggp registration books as the absolute owner of such bond, whether such bond shall be overdue or not, for the purpose of receiving payment of, or on account of, the principal of, premium, if any, 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 executing the certificate of authentication on any bond, and by such execution the bond registrar shall be deemed to have certi- fied 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 -6- , .4un0mv ao 94va o4 sv uoT4v4TmTT 4noq4TM JU09a8q4 4S9a9qUT 9XI4 Puv spuoq aqq go 4uaw.Asd aqq aoj 9BETITA aqq UT A:gaadoad 9Tqexvq 9q4 TTe 0 uodn s9xP4 u'9aOTvA Pe AA9T 04 P;94VbT-Iqo aq TTvqs abeTTTA 9t[4 PUP '95PTTTA aqq JO SUOT4PbTlqo TRa9U9b PUP 4092TP aq TTPqS SPUOq 9ql* a 0 a -SPUOq 9q4 UO 4S9a94UT Pug JO TedTOUTad aqq. go 4usuiAed Tvn4ound aqq 04 P9bPOTd ATqvoOA9Z2T Aq9a9q 9av 9bQTTTA 9q4 30 4TP9aO Pug 'q4TvJ TTnj axIl *suoT4vbTjqO Tie OL UOT409S a a a *XZ071 m9X go 94v4s PUP A4TO JUP44vquPK go qbnolog aqq ao TanossTH IsTnorl 0. 0 a -4S 90 A4TO 9q4 'sT,OUTTTI JO 94v4S 9144 UT 90T;;O qsna4 94vaodzOO TpdTOUTad s4T 5UTUTPqUTVM UOT4VTOOSSV 0 0 9 a 4 1 41 01 a buT3[ueq TeUOTqeU aO Aupdmoo qsna4 JXueq e aq Tleqs uOT409S sTq4 JO SUOTSTAOad aq4 a9pun pa4uTodde aea4ST59a puoq Auy 04U9M4UTodde qOnS a94JV SAPP A4U9M4 UT44TM SPUOq JO a9UMO P9aaq9Tb9a qOeB 04 0 a 4T Aq 9PPM 4U9U14UTodde qons XUe JO 9DT40U TT TleqS # a 6 9beTTTA 9ql -aeaqSTb9a puoq aoss000ns v 4uTodde uodn9a9q4 TTTM 4T 4vq4 s9aabe Pug s4ueuBA00 9beTTTA OXC4 'SaTVlje ao A,4aadoad s -4T ;0 aO aPa4STb9a 0 0 puoq aqq go Toa4uoo 20 abavqO axv4 TTeqs aeoTjjo oTlqnd Aug jT ao 1peqUToddv aq TTvqs IA4aedoad sqT go ao lava4sTbaa puoq aqq go ao4 0 0 -vAa9suOO aO aO4PPTnbTT Ja9AT909a V JT aO 'qU9ATOSUT ao qdnaXuvq v 0 4 0 0 pabpnlpv aq lTvqs aO 'bUT40V JO 9TqPdPOUT amooeq TTvqs 20 P9AOUIaa 4. 8 0 aq TTPqs aO UbTs9a TTP'qs aVa4STb9a puoq aqq aMTq Aug 4V 9SPO U -OMT4 AU P 4V aVaqSTb9a puoq aqq 9AOUIOa AMM 9bvTTTA Oql -spuoq aqq uo uoTqpoT4 -uaqqnp JO 9qPOTJT4a9O SqT UT UOTqPqu9sajd9a Aug aoi 9TqTsuodsaa bq laaA9MOq 'TTQXIS aP24STb9a puoq eql '4Tnvgap ao 9OU9bTTb9u UMO Section 8. 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: United States of America State of Illinois County of Cook VILLAGE OF MOUNT PROSPECT GENERAL OBLIGATION BOND, SERIES 1988 INTEREST RATE MATURITY DATE The VILLAGE OF MOUNT PROSPECT,. a municipal corporation and a home rule unit of the State of Illinois situate in the County of 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 r 19_— and semiannually thereafter on and 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 day of the calendar month next preceding., such interest payment date, at the address of such owner appearing on the registration books maintained by the Village for such 10- -TT - 9q4 UT UMOqS POT19d Aug bUTanp pameapea aq o4 ST PuOq eons JT IsnTd p9maepea aq o4 joaaa'q4 4unomv TvdTDUTad aq4 o4 10 0 Tvnb9 aoTad UOT4dmapea P 4P la94j29aqq4 949P 4uamAed 4saaaquT Aup uo pup v 6T UO 'SlTan4pm OTbUTS R UTq4TA 40T Aq Pug A4Tan4eui go a9P2O OSa9AUT UT lP9PTAOad UT9a9q SV 9OT40U uodn pup ObPTTTA Oq4 a a, go uoTqdo Oq4 4P A4Tan4vm 04 aOTad UOT4dmapea o4 4oe[qns Sae a 6 0 0 6T a949V aO UO S9T bUTan4PM a9S qOnS go spuoq aql a 0 [SUOTSTAOad UOTqdmapa-d Aao4-epuex] 'STOUTTII 'qoadsoad qunox go 9bRTTTA 9t14 90 1886T S9Ta9S 'SPU09 UOTqPBTTqO TP29u9f) go eouvnssj Oq4 bUTZTaOq4ny BOUPUTPaO,, 0 0 0 :P9T4T4ua PUP 886T UO 9bvTTTA 9lq4 90 S994snal 90 PaV09 Pup 4u9PTs9aT at Aq pe4dope 90UPUTPaO UP q4TM 90UPPIOODV UT pup aapun pup OL6T JO UOTa4n4T4sUO3 STOUT STI' 944 90 IIA 81OT42Y go 9 UOT409S 04 qupnsand puv aepun panssT pup pazTaoq4nv eap qoTqm pup qsaaaquT go 0 0 ip a aqpa pup uoTqdmapea go uoT4do'A4Tan4Pa a4aqvp o4 sv qd9oxa ou94 9XTT 90 TTV 9av qOTOITM JO 4UnOUIP jPdTOUTad 94P59Xbbe 9q4 UT pansST spuoq go S9Ta9S P go 9UO ST PUOq STql 0 5 a 1 6 'SUL194 S4T 04 bUTPaODOR PUOq ST44 UO 4SOa94UT PUP 0 0 go TvdTDUTad sq4 go quamAvd Tvnqound aqq aro, pebpaTd ATqpooAaaaT 0 a 922 95PTTTA 9q4 90 4Tp9aO Pug lq4TRj TTnj stU -ZVZqSTb9U PUOq aq4 go aoTijo qsru4 aqpaoclxoo TpdTOUTad aq qP puoq STT44 JO a9pU9a a 0 9 a -InS PUP UOTqP4U9s9ad uodn POT19MV ;0 a a s94v4S P94Tufl 9q4 90 A9uOm Tn;mPT UT OTqpApd aq TTTM lanp, uaqm ',yup ;T 'UMTmaad pup TvdTOUTad 0'4 SR 'PUOq STILIJ 0(,,aQaqSTb9-d PUOq,, 9q4) aosse0ons SqT ao apa4 I a -ST59a puoq sp 'STOUTTTI 'PT9T;bUTadS go AqTO Oq4 UT 'PT8T;bUTadS 0 6 4 0 8 0 9 4 ;0 XUP9 9UTaPH go 90T;;O qsna4 aqpaodapo TvdTOUTad aq4 4v asodand following table, the applicable redemption premium, expressed as a percentage of such principal amount, set forth opposite such period: Redemption Period Redeation Premium Notice of the redemption of bonds will be mailed not less than 30 days nor more than 60 days prior to the date fixed for such re- demption to the registered owners of bonds to be redeemed at their last addresses appearing on such registration books. The bonds or portions thereof specified in said notice shall become due and payable at the applicable redemption price on the redemption date therein designated, and if, on the redemption date, moneys for payment of the redemption price of all the bonds or portions thereof to be redeemed, together with interest to the redemption date, shall be available for such payment on said date, and if notice of redemption shall have been mailed as aforesaid (and notwithstanding any defect therein or the lack of actual receipt thereof by any registered owner) then from and after the redemp- tion date interest on such bonds or portions thereof shall cease to accrue and -become payable. This bond'is transferable only upon such registration books by the registered owner hereof in parson, oi by his attorney duly authorized in writing, upon surrender hereof at the principal corporate trust office of the Bond Registrar together with a written instrument of transfer satisfactory to the Bond Registrar -12- -cl- JO S8Ta9S 9qq 4Vq4 pup lmvT Aq PeaTnbaa sv aeuuvui pup ulaoj 'alUT4 4 0 6 anp pup avInBea UT pauLiogaad uaaq 9APq pup 4STX9 lauop uaaq aApq eb 3( ;ab,el:T'FA 9XI4 go uo-r.4ebTI[qo bUTPUTq pup pTTPN "T 9T v T a le ul 0 a9paO UT puoq STq4 JO aouensST 6q4 UT PUP 04 4uapaoaad pauiaojaed aq pup 4STX9 lauop, aq o4 p9aTnbea SbUTq4 PUP SUOT4TPUOO 'S40e TTQ 4vq4 PaaPTOBP Pup P94109a 'P9T;T4aao Aqaaeq ST 41 4 0 a OaVaqSTb9H puoq 9q4 Aq paqnoaxe Alnp uaaq aApq TTeqs U09a9q UOT4VOT4u9xjqne 90 a4eOTJT4290 aq4 TT4un asodand Auv aO; AaO4RbT,Tqo amooeq ao PTTp`A aq 40u TTvqs puoq STql -osqvqm sasodand a8q4O TTe aO; Pup Uoeaelq anp qseaaquT pup JAuv ;T lmnTmead 'TvdTOUTad aq4 'go 4un000e uo ao 1;o quemAvd BUTAT909a 0 0 go asoclind aq4 ao; ;09a9q a9UMO 94nTOsqv 9114 SV P9a94STb9a ST puoq Slq4 aMPU aSOqM UT uosaad axI4 aapTsuoo PUP 4Q8a4 APM aPa4STb9U puoq 9q4 PUP ObeTTTA 941 -9bUPqOX9 aO aa SUPa4 qOnS bUTXVUl JO ab9TTATad aqq ao; 9PPUI aq TTRqs Ob-TREP a9q4O ON -puoq STq4 go abuPqoxa ao asisuva4 aq4 oq 4oadsaa tMm PTed aq 04 P92Tribaa 9b2Pq3 TP4U9MUa9AOb a9q4O aO Oaj 'XV4 AAV 209 4T asanqutTal 04 4U9TOTjjns 9baPtIO e OXVM XPM 29a4STb9H pu©g Oq4 20 9 a a 9bRTTTA 9ql -SUOT49UTUIOU9p P9ZTaOTq4nP Mons go Aup go pup 94pa 4saaa4uT pup I a 0 0 AqTan4vm amps aq4 go spuoq go 4unomv TpdTOUTad 94Pb9abbP Tenbe up .zoo pabuvqoxe aq Apm puoq STq4 0 la9uuvul 931TT uI -aOJ9aaq4 abuPqoxa ST pansST UT aaaagsuvaq aq4 o4 aq TTvqs puoq q4 SV 94Va 4Salaq I a a -UT Pup A4Tanqpm Iqunomv TpdTOUTad 94P59abbP ames atI4 go pup go 0 0 0 -aaaq4 9ldT4Tnm TV2b9qUT AUV 20 000'9t 90 SUOT4VUTUIOU9p p9ZT.Xoxl4np 4 a a 0 0 9XI4 UT 'SPUOq .10 PUOq P9a9qSTb9a Mau P uodnaaaq4 pup lA9uao4qP P9ZTaOq4ne ATnp STq Aq aO a9UMO P9a94STb9a aq4 Aq pe4noaxq ATnp a 8 0 bonds of which this bond i together with all other indebted- ness of the Village is within every debt or other limit prescribed IN WITNESS WHEREOF, the Village of Mount Prospect 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 facsimile signature of its Village Clerk. Dated: CERTIFICATE OF AUTHENTICATION This bond is one of the General Obligation Bonds, Series 1988, described in the within mentioned ordinance. MARINE BANK OF SPRINGFIELD, as Bond Registrar By Authorized Officer -14- Village President Attest: Village Clerk �ST- :994UVaVnD 92n4VUbTS osasTmead aqq uT uoTqn4Tqsqng jo aamod Tjnj u4TM lgoaaaq4 uoTqeaqsTbaa aoj 4daX miooq aq4 uo PuOq PTvs qq4 aggsupa4 04 AquaO44V s4uToddp puv s94nqT4suoo ATqpoOA9aaT Aqaaaq pue puoq UTq4Tm Oq4 o4un saazsupa4 PUV SUBTSSP 'STT9s P9UbTSa9pUn 9q4 p9AT909a a a a 9nTPA aOa INaWN.DIS Sid 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 4 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 sufficient for that purpose in addition to all other taxes, as W101MOT19M, Tax Lew Year A Tax Sufficient to Produce 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 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. 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 wi'.,.h the County Clerk of Cook County, Illinois, who is hereby directed to ascertain the rate per cent required to produce the aggregate tax hereinbefore provided to be levied in the years 1988 to 19_, inclusive, and to extend the same for collection on the I -16� O"m 4Tsodea moaosa 886T ;Dtl-4 90 =Oj TPUTJ 9'qjj -aTqvxTs9p -jo A.Ips 5 -S909U SP 9UTV=949P TTPqs 4u9PTs9ad 9bvTTTA 914-4 SP 4X94 UT s4u;9ul -4snCpv inns uTv4uoo Avm qnq 'Xa9TO OBETTTA 9q4 90 aOTJgO 9'q4 UT 9TT3 UO 4u9m98abV 4Tsodea moaosa 886T 9q4 JO MaOj Bq4 UT aq TTPT4s 4u9m99abV 4Tsodaa moaosa 8861 9qq go uiaoj JPUTJ 9ql *4Uame9abV 4Tsodea mozosa 886T 9q4 a9pun p9UTP4UTVUt puna moaosa 9q4 UT 0 5 . P94Tsodap aq TTPXIS pesvxloand os spuoq TVOOT PUP 94R4s eql 'AOTTod aoupansUT PuOq TPdTOTUnUl V Aq pea4upapnb ST goTM UO 4S9a9qUT PUP go TvdTouTad aq4 go quamAvd 8 6 0 0 0 9q4 spuoq TPOOT Pug 94v4s aaq4o aspqoand TTvqs 90UPUTa go aO4O9aTa 0 0 95RTTTA 9q4 U9q4 'V 9TnpaqoS PTPs P94ST UT I spuoq TvOOT PUP 94v4s UT 4 OT;Toads aqq aspqoand o4 95VITTA Bq4 go 4S9294UT TPTOUPUT 4S9q 0 0 1 g 9q4 UT 4OU ST 4T 4Pq4 OUTUL1949P TTVT4S ODUPUTa JO aO4O9aTG 9bPTTTA agq JI '4uamaaabv 4Tsodea moaosa 886T,;9tj4.04 V 9TnpaqoS uT 0 P94sT,T spuoq TPOOT Pup 94v4s atiq go asptloand aq4 aoj spuoq aq4 go aTPs go spaaooad aq4 go UOTqaod P ATddle 04 P9409ITP PUP P9ZTaOq4nP Aqaaaq ST 9OUVUTa 90 aOqO9aTG 9JBPTTTA 9XII -4uebv moaosa see 'PT9T;.6UTads ;0 XUPq 9UTaVX tMm 4u9uI99abv 4TSOd9a moa Osa 8861 9tT4 04uT. 294u9 TTvqs ObVTTTA 9ql 'puna mozosa *OT uox4oqS pup anp amooaq auks aq4 Se p9ZTaoqqne uTaaaq SPUOq 944 UO 4S9a9qUT Pug 90 TedTOUTad 9114 bUTAed go asodand aqq aoj AT9TOs P9sn 4 a 9 aq TTeqs saxpq Bons 'P94091TOD u9qm 'Pue P9409TTOO Pug P9T,A9T 9ae s299A PTvs a0j: sasodand a4eaodaOO Tea9uab aOJ s9xP4 see a9uuem 9XTT UT P9409TTOD PUP P9TAaT aq TT'ells xP4 Tpnuup qons saP9A PTPs UT Puz '9bPTTTA 9q4 go sasodand aqpaodaOO TPaeu9b aOJ 9BPTTTA 9q4 Aq pup UT UT P9TA9T UT s'3[ooq xpq 'saP9A PTPS S9XP4 a9T440 q4Tm UOT409UUOO Agreement shall be executed on behalf of the Village by the Village President, under the seal of the Village, affixed and attested by the Village Clerk. Section 11. Debt Service Fund. Moneys derived from taxes herein levied are appropriated and set aside for the sole 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 111988 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. Section 12, Bond Proceeds Fund. All of the proceeds of sale of the bonds (exclusive of amounts deposited in the Escrow Fund) shall be deposited in the 111988 Bond Proceeds Fund" which is hereby established as a special fund of the Village. Moneys in the 1988 Bond Proceeds Fund shall be used for the purposes specified in Section 1 of this ordinance and for the payment of costs of issuance 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 reappropriation will not adversely affect the exemption from federal income taxation of interest on the bonds. Section 13, Rebate Fund. The Village hereby estab- lishes a special fund, designated as the 111988 Rebate Fund." In M -2c aqq o4 qupnsand lS9Ta9S 4U9MUaaAOD TVDOU PUP aqVqS 'S9T4Tan39S 4 AansP9al S94v4S P94TUfl UT P94S9AUT 9q APUI SUOT40TaqS91 a 0 0 f PT91A 4U9M4SBAUT o4 qoa[qnS* a2P 4Vq4 PUnd AUP UT SA9UOM AU -f # 4 0 -PT9q 9aV S9T4TanOBS ao SA9UOM qOnS qOTqM UT PUnd aqq 04 9SP0 T4OP9 UT Pa4TP9a0 aq TTPqs puna Auv uT S9T4T2n09s aO sAauOm 0 a go 4oadsaa uT squamqsaAuT qons moa; pqATaqp qmo0UT TTe jq0UeUTpaO 41 1, a 6 9 STq4 ;0 CT UOT409S Aq P92Tribaa se qdaoxa 890UeUTPaO STqq ;0 ST UOT409S UT q4ao; 499 S4UeU9AOO Xe4 944 q4TM 9OUePaOOOe UT qdaoxe a puna 94eqea 8861 eq4 ao puna spa9ooad puoq 886T 9q4 'puna a0TA.19S qq9G 8 8 6 T 944 'pund moaosa 9q4 UT sA9uOm Aus go epvm aq TTeqs 4U9MqS9AUT ON 4U9m4G8,&uj *VT UOT409S a *986T 9:0 apoo anueAa-d Tvuaaquj qtjq go CJ) SVT uoT-4oes Kq palTrLbea SP VOTa9ury 90 S94P4S P94Tu11 aqq oq, squeuAed eXvm o4 uot4vbTTqo s4T 90 9bvTTTA a & 9T44 aA9T.T92 llvqs asn PUP UOT4VTadoaddvea qons ON -sesod.'I'nd a 0 a9q4O 209 P9Sn PUV P9qVTzdoaddP9a eq Apui puna 94Pq9j3 886T 9T44 UT SA9UOX -asodand qons aoj 9PTse 49s pue paqeTadoaddp Aqaaatl eap PUP 986T go apoo anu9A9-d Tvuaa4uI 9q4 90 (g)SVT UOT409S 0--j. -4UVnS -and voTaeury go S9494S P94TUfl 9q4 04 PTPd aq o4 p9aTribea 9-112 se sums qons dad o4 p9TTddp aq lTvqs pund eqpqaa 886T 9114 UT sA9uoK -puna aqvqaU 886T aqq UT Ispuoq 9q4 go Aa9AT19P PUP 90UQnSST 90 84PP 9q4 90 94EP AaPSa9ATUUP 9q4 a94jP SAVp OT UTq4Tm 'ATTPnuuv - P94Tsodep eq TTPqs 9UIOOUT qons 1986T go apoo anuaA9U TPua94uI 9q4 90 (J)8VT UOT409S o4 4uvnsand PDTaaurV go sa4P4S P94Tua 9q4 04 PTPd ao pe4vqaa aq 4snut 4pq4 eUI00UT 94Va9U9b qOTqM SqU9U14S9AUT AUP 90T UT punj Aa9S qqaa 886T aqq ao puna sPa900ad PU09 8861 9q4 0 6 'Puna MCaOSa 9q4 UT SA9UOM qS9AUT TTPqs 9BPTTTA aLT4 4Pq4 4u9Aa aq4 regulations of the United States Treasury Department, Bureau of Public Debt. The Finance Director and agents designated by him are hereby authorized to submit, on behalf of the Village, sub- scriptions for such United States Treasury securities and to request redemption of such United States Treasury Securities. Section IS. 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 become 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. 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 OMM arc 90 Ss9TPavb9a 'SPUOq 9q4 90 TTV -4u9uI99abV 4Tsodea moaosa 886T aqq aepun ao sPuOq Tv00T PUP 94v4s aqq o4 4oadsaa q4Tm S4qbTa AUV sPU0q aq4 go saeumo aq4 uodri aeguoo TTPqS P9UTV4UOO UT9a9q bUTqqOU 4Pq4 a9A9MOq 'P9PTA0ad !sPuOq 9q4 go TTv PUP 'Auv go saeumo aq4 90 A4TanO9s PUP UoT4oa4oad '4TJ9u9q Tvnba aq4 aoj aq TTvqs 9BVTTTA 0 9q4 90 3Tvq9q UO Zo Aq POULlogaed aq o4 T44aoj 499 UTBaOq S4UaUl -99abV PUP S4UPU9AOO 'SUOTSTAOad aq4 PUP 90UPUTPaO STtJ4 UT apeM ObP9Td AuV *sPuoq aq4 90 sa9umO P9a94sT,5Ba aq4 PUP 9bPTTTA 9q4 u99m49q 4OP24uoo v 94n4T4suOO Tlvqs 90UPUTPaO STq4 JO SUOTSTAOad qqj -qDvaju03 v 84n4TISUOD 04 gouruTpao OLT U4T40es 0(986T 90 apoo 9nUaA9U JPUa94Uj Bq4 90 TVT UOT409S UT P9UTjap SP) llspuoq A4TAT40P 94PATad a9q4O 9pnTOUT 0 il . 4ou scop 4nq (986T 90 9POO BnU9A9-d Tvua94uI 9q4 90 SVT UOT409S 9744 UT PaUTJ9P SP) 0 1 iiSPUOq (C) {O) T05 P9TJTTPnbil S;9lDnTDUT -ebTTqO -xv-4 " Sa3U94U9S bUTpaoazd g,SUOT4 4dmaxe a 0 u M184 OCR omq aq4 go sasodand aoa *886T UT SU0T4PbTTq0 4duiaxe-xv4 go 4unomv TpdTDUTad 94pbaabbp 000100010Tt ug�4 eaout anssT PUP 94PUbTS9p 4OU ITTm 4T 4PLI4 SqUPU9A03 9bvTTTA Oql -000'0001OTt Paa=9 4ou scop 886T bUTanp 9bPTTT,& 9q4 90 S9T4T4u9 94PUTpaoqns TTP PUP abtTTTA l a a a144 Aq Pans ST SU0T4QbTTq0 qdmaxe-xp4 go qunomv 0 9q TTTm 4Pq4 0 paqvdTOT4Ue ATqvuOsvBa aq4 4pq4 s4uasaadea abvTTTA 9111 -986T go apoo anuaAa-d TPUa9qUI aq4 go (8)(q)99Z uoTqoaS uT PaUTJ9P SP 1 0 0 ,,SUOT4PbTTqO 4dui9xa-xp4 P9TJTTpnbj, see SPUOq 9T44 Sa4PUbTS;9p Aqaaatl 0 A a 0 9bvTTTA 9q4 '986T go apoo anu9A9U TPul94UI 9q4 go (TT)(S)(C)(q)SqZ UOT409S off. 4upnsand -spuog pqT;TTvn6 Xuvg e9T u0Tq0qS -spuoq aq4 uo 4Saa94UT 90 SaXQ4 aMODUT TvaaPag mOag UOTqdmaxa aq4 atxasaad o4 Aapssaoau the time or times of their issuance, shall be of equal 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 provi- sions 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 provision of this ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph or provision shall not affect any of the remaining provisions of this ordinance. Section 18. Publication and Notice. The Village Clerk is hereby authorized and directed to publish this ordinance in pamphlet form and to file copies thereof for public inspection in her office. The Village Clerk is hereby authorized and directed to cause notice of adoption of this ordinance to be published in the "Mount Prospect Herald,," a newspaper of general circulation in the Village. Said notice shall be in substantially the following form: Notice is hereby given that on 1 1988, the President and Board of Trustees of the Village of Mount Prospect, Illinois adopted an ordinance entitled: "Ordinance Authorizing the Issuance of $ ' General Obligation Bonds, Series 1988, of the Village of Mount Prospect, Illinois," and that copies of said ordinance are on file and available for public inspection at the office of the Village Clerk of the Village of Mount Prospect. By /s/ Carol A. Fields Village Clerk" -22- =MC 4u9PTs9ad 96PTTTS. womxomro•r.4 Xa9TO 9b'eTTTA .OSA,ex :qsaqqv (rivas) SMOTT©; SP 940A TTVO TTO-1 req 886T ;© A7ep STq4 p9qdopy a -mpT Aq P9PTAOad aauuem eq4 9AT UT 409JJ9 euioo;aq a 0 IT'2qs 90UPUTPIO STql *94va GAT408;;a *6T'UO2409S PUP aPa4STb9a PUoq aq4 SP AqTopdpo S4T UT PT9TjbUTads go Xuvq auTaPX off. Puna mo,aosa 9'q4 UT SA9UoM qq* 4 aaAo, BEd 04 UOT40na4SUT TVT4TUT UP Tq�4T IM,-4UabV MoaOsa aq4 s9PTAOad Aqaaaq 0 0 9bvTTTA eql -9bPTTTA 9q4 moaj p9AT'909a SUOT4ona4SUT 0 . ua44Tam T44TM,- 90uPPao00P UT Puna MoaoSa aq4 UT spaaooad 9q4 ATddP TTPqs 4uabv moaosa qtjj : puna moa,losa 9T4-4 UT SPUOU -1p;:)orI PUP 94V4S atI4 M0aJ PaAT.19P (9STMa9q4O aO' 4S9a94UT qdmapaa lutnTmaad UOT 0 'TpdTOUTad aeq'4;aqm) tf spaaooad Auv 4TsOa9P TT,Ptls 4uabv moaosa aql *C - sPu0G TPOOrl PUP 94P4S aqq o4 qoedsaa T44TM AOT Tod aOUPanSUT puoq TpdTOTUnM e PUP SpUoS T'eOOU Pup 94P -4S aq-4 io esvqoand 9q'4 aoj apTnoa-d o4 4UaTOTJ;ns 4un0mv UP Puna moaosa aq4 uT 4Tsodep as 4uebV moa0sa eqq 00 �puog 0 4 886T SaTa9S 9q4 JO spaaooad aq4 moa; Apd TTvqs 9bvTTTA 9q4 'spuoq 886T seTaeS aq4 go 9oupnsST 9q4 q4TM AT4Uaaan0Uo0 Ilz -quabv moaosa aq4 aO 9bPTTTA aq4 Aq PT9q aO 90 spung aaq4o moag 4avdp pup 94vapdas '9bvTTTA 9q4 go 4TJauaq 9T44 aoj 4uabv moaosa aq4 go Apo4sno 9tJ4 UT PTIDT4 aq o4 (,,Puna mo-zosas, 9q*4) „886T 90 Puna moaosa 4oadsoad qunoN' 90 9bvTTTAs# 9q4 P94PUbTSOP Pun; MOaoSa TVToads P '4uabv moaosa 9q4 q4Tm P9qSTTqp4se PuE P94peao Aqaaaq STg9a9ql *T : smOTTO; sv aaaft 049a9q SOT4apd aq4 iq4aOJ 499 a94jQUT9a9q S4`UVU9A00 Tpn4nm 9q4 90 PUP bUT05;aOj 9q4 90 0 UOT4Pa9PTSUOO U� 'aUO 0 aauaHl MON -4u9bV m0a0sa 9q4 tMm sPuOS Tpool pup 94v4s aqq 4Tsodep 04,S9aTS9P 95PTTTA 9q4 'SVaU' pup !oqqaqq Pqq3vq4P V BTnpaqoS UTP9qTaOSap Pug q4aog 49S gap 0 (USPU02 TP00a pup aqie4S,l axj4) paspqoand aq o4 spuoq TV00T Pug 94v4s aq4 'SVauaHm PUP !(986T ;0 aPOO anuaAald TPuaaqUI aqq go COT UOT409S UT P9UT;9p SP) 10 0 a SPUOq TV00T Pug 94P4s 9svqoand o4 pasn 9q TTTm sPU09 886T sBT.29S 9q4 30 9TPs go spaaooad aqq go 4apd pup (,,spuog 886T SgTa9S,, gt14) 88,6'2 S9 -C -29S 'SPU09 UOT-4PbTTqO TP -19U90 go -4unouip T-edTOUT.id go aoupnsST 9q4 p9ZTaoTqqnv sPT4 9bvTTTA 0 a 41 9T44 (1190UPUTpao puoqu 9T44) STOUTTTI 'qoadsoad 4unoK go 9bvTTTA 6 a a 8q4 90 886T S9TaBS 'SPUOq UOT4PbTlqo 1paeueo go aoupnsSI ;q4 bUTZTaoqqn4 aoupu-rPaOii P9T4T4U9 PUP 886T UO 9bvTTTA alli go Sq,qqsnajL go Papos pup quepTsead 9bPTTTA 9144 Aq pe4dopp 90UPUTPaO up oq 4upnsand lsvauam a *STOUTTTI 'PT9TjbUTads go A4TO 9tiq UT 90TJJO 4snaq 94paodzoo vdTOUT2a S4'T bUTAPq 0 PUP * STOUTTTI JO 9 4 T 94P4S 9144 JO smPT 9T4q a9pun bUT4SX9 Pup P92TUEbaO 3JUPq P. 'illqUgfDV moaosa-, 9tl-4) PT;DTJbUTadS go XUP9 9UTaPK PUP STOUTTTI Jr 94P4S 9t14 90 4Tun 9Tna auloxl P PUP UOTqpaodaOO TpdTDTUnM P '(,,abpT 0 0 - TTAij 9q4) STOUTTTI lqoadsoad 4unoN go 9bPTTTA 9q4 u99m4eq pup Aq 1886T 'T Aapnaqed go sp P94pp maxaauov iisoaaa modosa 886T ixaxaauvv iisodaa mouosa 896T paying agent for the Series 1988 Bonds (or to any successor bond registrar and paying agent thereto) (the "Paying Agent"),, an amount sufficient to pay when due and payable the principal of the Series 1988 Bonds and to pay when due and payable the interest thereon to their respective dates of maturity in accordance with the debt service schedule set forth in Schedule B attached hereto. 0 4. In the event of the redemption prior to maturity of a State and Local Bond, the redemption proceeds received by the Escrow Agent shall be applied to pay the redemption price of a like principal amount of Series 1988 Bonds of the same maturity as the State and Local Bond so redeemed. 5. The State and Local Bonds and the proceeds derived therefrom may be withdrawn from the Escrow Fund by the Village at any time. The Village may at any time direct the Escrow Agent to sell or otherwise dispose of any State and Local Bond. 6. Any notice of redemption and any other notice or request received by the Escrow Agent and requiring or requesting the consent of the owner of any State and Local Bond shall be delivered to the Village. Nothing herein contained shall alter or limit the rights of the Village as the owner of the State and Local Bonds and it is expressly understood that the Village shall be the sole owner of the State and Local Bonds and all moneys held in the Escrow Fund. 7. In the event that the principal of and 'interest on any State and Local Bond shall not be paid when due, the Escrow Agent shall file written notice of such non-payment with the Vil- lage Director of Finance, the paying agent and the trustee (if any) with respect to such State and Local Bond and the bond insurer that issued a municipal bond insurance policy with respect to the payment of the principal of and interest on such State and Local Bond. 8. In consideration of all services rendered and to be rendered by the Escrow Agent under this Agreement, the Village will pay the Escrow Agent a fee of $ from the proceeds of the Series 1988 Bonds. 9. The Escrow Agent may consult with counsel con- cerning any of its duties under this Agreement, or in case the Escrow Agent shall become involved in litigation concerning this Agreement, then its reasonable costs, fees and expenses and the reasonable fees of its attorneys shall be paid by the Village. 10. The Escrow Agent, acting in good faith and in its sole discretion, may disregard any and all notices or instructions given by any person, firm or corporation, other than the Village, except (i) notices or instructions specifically provided for under this Agreement and (iii) orders or process of any court. If any property subject to this Agreement is at any time attached, gar- nished, or levied upon under any court order or in case the pay- ment, assignment, transfer, conveyance or delivery of any such -2- - quam -rLlqSUT amps aqq pup auo 4nq aq pup 94n4T4suOO TTPqs pup TPUTbT20 0 0 euo se sasodand TTP aoj papapbea aq ITVqS qOTqM 90 TTV ls4avd -a94unOO Tva9ABs UT pa4noaxa aq Avui quamaeabV ST gl -9T 'bUT4TaM UT aq TTvqs quqm99abV sTq4 go smaa4 aq4 tMm 90UPPaOOOP UT UaATb aq o4 paqqTuuad jo, paa�nbaa pupmap 0 0 0 ao 4u9suoo aoj 4senbea 'UOT4VzTaoxlqne 19OT40U AU-f -GT -quabv moaosa aq4 Pug 9bPTTTA 8q4 90 4u9suOO u944Tam 9q4 4nOq4Tm P9PU9mP ao P9a94TP 'p9XOA9a 'P9TP9d9a 99 you TTvqs 4T Pup 4uebV mOaDsa aq4 Pus abPTTTA 9q4 90 4Tjauaq aATSnIOX9 9qq aoj aPPM ST 4UaMa9abV STql 'VT • queulaaabv STq4 JO SUOTSTAOad bUTUTIeUt9.1 9114- 90 A-4TPTTPA 9q-4 409J I a 8 0 0 _112 QPM OU UT JTPtJS PUP P9UTV4UOO UTaaa'4 S4U9M99abV PUP S4UPU9AOO bUTUTPUlaZ aq4 UlOaj 9jq`aaA9S aq 04 pana4suoo pup Pam9aP aq TTPqs 4ugulaaabp ao qUPU9AOO qOnS 'MPT o4 Aapa4uoo aq 04 UOT40TPSTan[ qua4admoo go qanoo P Aq PaUT=94ap aq pTnoqs pamzoja.9d'aq*oqO4u9bV mono -sa aq4 as abRTTTA aq4 go bpd aq4 uo 4U.;alZa9abV STq4 UT PaPTAOad S4U9M9aabP ao SqUVU9AOO aqq JO 9aOM ao allO Aug JJ4 -ETO -abvTTTA aq4 04 paaaagsupaq eq TTvqs 4UOMaaabV STq4 90 UOT4PUTUUa4 0 0 uodn puna moaosq aq4 uT bUTUTPM9a sPuOS TPOOq Puv' aqvqs Pug SAquom AuV -puna moaosa 9q4 mOag umPaPq4Tm ao PTPd 9a2 sPuO9 TPOOq Pug ;9'4'e4S 9q4 abeTTTA aT44 Aq pau-c=aqap ;9'47eP -za-rTaP9 tjons uo .1a 1 0 0 0 z uo 94vuTuLla4 TTvqs 4U9M99abV STql 'ZT a '9UTnuab aq 0-4 S9AaTT9q q4Tvg POOb UT qOTqM 4uamnoop ao 94POTJT4aaO u944T'm 4T 'puvmap 'aOT40U Aup uodn bUTATaa UT pa4oeqoad ATnp aq OsTv TTvqs 4uabv moaosa aqi a 0 -qugmbpnC 4saq umo s4T JO aSTOa9Xa 9q4 UT Pup q4TPJ POOb UT Pa4 4 0 a 0 -4TmO ao ua�fP4 JT 4UaMa9abV STq4 a9pun p944Ttuo ao U9XV4 UOT40P Aug a 0 aoJ aTqVTT ATTpuosaad aq you TTvqs 4u9bV mOJDsa 9ql -TT '4T uodn bUTPUTq ST TasunoO TPb9T 84T Aq P9STAPV ST 4T qDTqM m aaaoap ao Iquabpnc '4Tam 'a9PaO eons AuP q4Tm'ATdmoo' pup uodn ATal APm 'UOT49aOSTP aTOs s4T uT '4UabV MOaOSa aq4 SqU9A9 qOnS go AUV UT PUP U9qq 'goaaaqq qaied Aup ao Aqaadoad qons bUT409JJP qanoo Aus Aq paaaqua ao appm aq TTPqs aaaDeP ao 4uambPnC. 119'Pao AAP aspo TO uT ao 'laplo 4anoo Aup Aq PaUCUa 10 PaAVqS aq TTPqs A4aadoad 0 8 a IN WITNESS WHEREOF, the parties hereto have each caused this 1988 Escrow Deposit Agreement to be executed.by their duly authorized officers as of the date first above written. VILLAGE OF MOUNT PROSPECT By Village President (SEAL) WPM Village Clerk MARINE BANK OF SPRINGFIELD (SEAL) Attest: -4- By: Trust Officer mm t 4sgaq4u= -,unouly 3o 94vu 1pdzouTad A4Tan4pw SM©TTOJ SV 4Sea94UTbUTavaq pine bUTan4PM ` PUP Z �ouo a94jv9a9g4 ATTenuuv-TMBS PUP 8 6 T T uo a e�Eds� � _"" It Zq�a9�uT 86T JT pa -.yep go spuog $ MR s . • e IA V as nU a O S r Date Principal Interest 'fatal LG/be 1/25/88 sivawq:)pive mDJ/fz)(] NOSORE "D CIIAVCI quaw aaj2v pue aoueuipjo paqDpllle aye. Idope aSPTI!A aye. IP41 uoijppuawwo3ai Aw sT II -IuawaajSv ilelUaWUJaAO2JQIUI pup az)u-euTpjo paqoplle aye, .dope siaqwaw uaalj!j aye. jo 14 ual Mal Ve uaqA% 100d d -19H at4l of paslealai aq 11!m PUP aAO.J!) >112 jo aSielHA ay Aq junoz):)ie Axoi:)sa up ui pTaq SUTaq AlluaiinD axe anssT puoq aqj jo spaaz)ojd Qq.L -0001t?g$ upqj aiow jou aq p1nom spuoq aye. UO ajhsodxa I-enuple wnwTx'ew S,aS'elT!A aye. 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TIA NHOE NgDVNVW 90V IIIA :OJL iN nGNVIAOW3W 3DIA-401d31NI f k"dom 0: If amqia 40 siouiIII lioadsold junoN o ej cl s oj ci u n J, 40 pule !awTq o4 awTq wojg papuawe aq Aem a5eiaAoo go adoos qDTqM JAc)ua5V aq4 go q6eaaAoo go adoos 9q4 UTq4Tm papnTOUT S9Tljpd aeq4o pur sjaqiu ' aw aqq 4SUTS6P aPPM SUOTSSTIUO PUP SJOaI9 JOJ SWTeTO JO A4jadoid .70 suosied 04 SaTjnlUT .10J SMTPTO A4TTTqPTT JO 5UTU9SSaT JO UOTquaAajd aq4 BUTNa9S go asodand 91q4 jog Toad eouejnsUT .JT9S C 4UTOP SP X3Uqf5v aq4) Tood AqTTTqPTJ SSaOXa TaA8 0 a (it U r' -t45Tlj alqq pa4pajo atileq (,,sjaqwaw,, ax4q) S9TdTOTunm 4TTR a STOU -SETTI go jaquinu s lsmPT aAoqe 9q4 o4 qupnsjnd IS" VaHaHM PUP !SaT4TunMUlT go 95upi v qaessp oq squ9mujaAo,6 p9jnSUT -jTas stAoTle PUP 9ou?jnsUT-3T9S :4UTOC :toj s4oeaquoo lPaA-T:lTnm SaZT.ioT4qn,e (,,qoV,, eq:4) sa�nqv:ts p9s*TA9-d STOUTTTI aq-4 .90 "LOT -6 q6nolq4 TOT -T suOT409S ISS ja4dptlo 140V A4Tunwmj 4JOl saaAOTdura TP4uawuJaAOD Pup Te4u9wUa9AOf) TPOOq 9q4 ISVaHaHM pup !Pajp alqejnSUT Paq?U5TS9p 9qJ UT SSOT 10 A4TTTq?TT 4SUTP6e 40PJqUOD aq4 36 i9qw9w AouaBe OTTqnd Aur jo JTas4T 'AT .TeT .:1.7 -ed JO ATT04m oq spunj sqT azTTTqn oq qoejquoo aiq:4 go jequiaui ADua5p DTTqnd qOP9 SaZTjoqqnp pup ejnsuT_jTas ATqUTO[ 04 S9TOU95e DTlqnd smoTTe lS6UTNV4japun 191140 6UOUIP lqDTqM '40eJ4UO:) T?qU9UIUJ9AO5J9-4UT up 99ZTjoq4ne 'UOT4nqT4suoD aqq JO OT UOT409S 'IIA aTDTqJV UTq4TM P9UT?qUOO SUOTSTAOid aqq go 9outj9qqjn; UT 140V UOT4?Jadoo:) T UaUlUlaAOBJ94 I go UOTqOaS lsvauam P4 U 9144 9VL a PUP !STOUTTTI JO 9qPqS atJ4 UT AOUa6e DTTqnd jaqqo AUP qqTM A14UTOC P9AO[Ua PUP PaST029Xa aq o4 ATTenpTATPUT ADUa5e OTTqnd Bons xg pasTojaxa aq APW q3TqM A4TlOq4nR JO Sa6qTTATid saamod io aamod Aup aSTOJ9X9 04 SaTouaft DTTqnd SaZTjoq:lnie ,-,4oV UOTqejad000 TPqu9wujaAo5aa4uJ,, aq4 PaT4T4U9 Js9qn4PqS P9STA9H STOUTTTI I 'B -9s 4a JTtPL UOT409S JLZT .79,4deti:) JSvauaHm PUP !aOUPUTPJO Aq 30 meT Aq paqTqTqojd fou .IaUUPIll AUP UT S9AJ9SUlalqq 6uoiiip aqPTOOSSP 9STMJaq:JO JO :J0Pj:lUOO go sqTun saz,[.7oqqne JO UOT-4nqT:4suoo 0:4 :4U9WUJ9AO5 TPOOT OL6T STOUTTTI c-)144 90 IIA aTOT-4JV JO OT UOT409S ISVaJJaHM (cmaH) riood &II'lisvi'l ssaoxa qaAa7-HDIH alll aO S233ElWHW alll HOJ aNfIJ SAIMSaH aDNVHflSNI -arias INIOf V HOd ONIGNOd SCIAO'dd 01 ClarISSI SCNOR alll aO SISOD GaLlVq9H CIMV 2DIAdaS IBM EHI dO allVHS alVNOIl -HOdOHd V JO INaWAVd alll IiOd DNIGIAOHd lNaWaaHDV UVINaW -NESA0911aINI NV aO NOILMDaXa DNIZIEOHIrIV aONVNIGEO NV 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"" f(the "Contract and By -Laws") and, a "Memorandum of Coverage,' bearing the retroactive date of April 11 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 specif led 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 th'e 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 peovided 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 MC 'aDUPUTPIO STqq go asodand pus 4U94UT aq4 jaqqanj o4 Aiv*ss9oau s4uauinaqSUT aq4o pup squaUlnoop T up eqnoexa o4 pa-43a;Tp PUP a Te laAT* Tap P P;9 ,,iodwa AqaaaT4 air :�ia,T:) [A4TZ)/95eTTTAI PU,!--[;,oxvw "-,/Sqq,4snlj Jo- PJPOE 9q4 JO IU9PTsaldl aql 4vql IIE Noiloas -Smpq-Aa pup qoplquoo aq4 go suoTsTAoid aqq Aq punoq aq ol 9aJ5e Pup UIaTJUOD PUS AjTqel Aqazaq A T 4.TedTOTunm STq4 JO S9T4TjoqqnV aqpiodloo aqq qPql z Noumg, OA4TTPdTDTunui STqq JO jPaS IPTOTJJO aqq qU9U'l9aJ6V PTRS 04 0 0 a 6 a XT J? 04 P940a3TP Pup PaZTjoq4ne Aqalaq ST NIaT:) , ; a 0 0 [A4TD/a5eTTTA] a94 Pup 'TRAOidde qons 90 a3u9PTA9 aATsnlouoo aqnqTqsuoo oq [joApW/s99qsnij go papoE aqq go quapTsead] aqq Aq quamnoop eons JO UOTqnoaxa aqq '[aoAew/s9ajsnaj go papoe 9q4 go quapTsaid] aq4 Aq PaAOaddp aq TTeqs SP UTazaq4 sabupqo qons ggTM quamea;rbv pTes laATT9P Pup aqnoaxa o4 P9409ITP PUP PaZTjoqqnp Aqajaq ST [JOAVW /Saaqsn.71 go pipog aqj _go quapTsaid] aq:4 pup "p9AOJdde Aqaiaq air BUT4aalU STqq 04 paqqTmqns iujog aqq ATTeTqup4sqns UT aOTAJaS qqaCl _go qU91UAea aT4:1 IOJ BUTPTAOICI '4Uataaa:IBV -[e:jUalUU.7aAO5.7aqUj aqq JO SUOTSTAoid pup swjaq ;wJoj aqq 4eql 11 T NoIlLoas, :SmOTTai Se 'SIONIqqI 12�lNnoo do allil do alll T-.E aaNivc*do ii aa 'a-dojauam 'Mom *quqlHaaJ6-j aqq JaATTap pup aqnoaxe 4T P14T:4TO SU9ZS!4T _40 S:4SaJ94UT qsaq aq:4 UT ST T qelqq PUTJ I4 0 0 :4 A4TjPdTOTunm sTqq JO SaTqTaoq4nV aqeaodaoD aqq IsvauaHm Pus !A4TTedTDTuniu STqq JO SaAT4oa[qo AOTIod DTlqnd pup AqdosotTqd aq4 114TM 9OU?PJOODP uT ale :4uai.uaa:zf)V atl:l Japun A4TTvdTC)Tunm ST114 uodn pasodWT SUOT4e5TTqo aq4 pup SPUOE aqq go juawAedai aqq qeqq puTj pup ququlaajf)v alq4 PaMaTAaJ BAPT4 SaT4T.7olq4nV aqPiodio:) aT44 svauaHm PUP !A4TTedT3Tuniu STqq JO SUaZT4TO 9q4 go 4Tjauaq 0 0 0 DTTqnd aq4 oq pup snoa5equeAp? pup aTqeuoseaz air aapunaaaq P ajTnbai aq oq s4unowe atI4 Jsaoup4stunolTO PUP S40PJ 5UTOBaIOJ 8q4 & a a JO MaTA UT JqPq4 UIITJUOD Aqaaaq Op Pup PaUTM3949P 930JO49J9q aA?q A4TTP`dTOTunui STq4 JO SBTqTaoq4nV 94piodioo aq4 lsvauam pup .Iab-e.7aAoC)---aoue:tnsUT-gTas qUTOr Jadoid Jog apTAOjd of eqnqTlluOD PTnoqs i9quiew qD?9 qOTqM SaA29Sal a aTqpuospai go qunowe aqq allTUI3949P 04 A4TTPdTOTunui STqj JO S9TlTjoq4nV aqPiodaoO atlq JOJ J944M P ST 4T lsvauam pup "WAqTque aoupinSUT-gTas 4uT.O1. p Aq PaZTTTqn aq Arm IIDTqM S9AJaSaJ 9TqPuosPaJ go UOTqP920 9q4 aZTjoqqnp 4oV aq4 90 LOT-6 PUP GOT-6 SUOTq3aS 'SVZ-daHM a 0 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 Servi,cer 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 al. I no right of reduction * or provisions of said Agreement or law, 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 fromandafter its passage and approval as provided by law. PASSED this day of 1988, AYES: NAYS: ABSENT: APPROVED this day of 1988. —[-President of the Board of Trustees/mayor] ATTEST: Village City Clerk SIomigqI 30 alVIS 9u4 30 ZTa = aDQIH ODVOIRZ) aO af)VrlrIIA CINV NOsVaHM aO XIIO ' ClaIJHaaG 3O aDVrlr IA ' NMVrl XVO 3O 3rJsdrl'IIA J aHIHSNgODNIq 30 3rJV71IA ' 1OadSOHd sNnOW 30 3DVrlrllA ' aDCIIH XlffVd 30 XSIO ' VXIaNNIM 30 3=DVgrIIA ' QOOMWVa'dlS 30 S'rJVgrIIA ' aIMOHS 30 aE)VrlrlIA ' SIHOIaH NOIDNIrIIEV 3O aDVrlrIIA ' MaIANarI0 aO aDVrlgIA ' SaNIVrld SSQ 30 XZIO ' SaIVLSS NVW330H 30 S!)VrIrllA ' aDVrlrllh aAOHD xrla 30 SOVggIA pup aagivaW 4SOH T2T4Tul alq4 SIONIgU laDVggIA BAUD XUa 30 aDV17IA "F�ua6� aq� rIOOd XML I rI I SVI rI S S3OXa gaAaq-HO IH aqq BUOMP 8862 'i 402eW JO SP p.a4PO aDIAHaS SSaQ 30 IMaWAVd aHl HOJ ON I Q IAOUd INaWa3UDV rIVINaWNHSA0023ami 0 11A 0.) a 0 0 DOWNY ARTICLE V REDEMPTION OR DEFEASANCEOOO*G*o*O*ooe*0000000coeoec*oasooeo 8 ARTICLE VI NEW MEMBERS; EXPULSION SECTION 6.1, ARTICLE I 8 SECTION 6.2. DEFINITIONS AND EXHIBITS 8 SECTION 1,1. Definitions and Rules Of Construction.S.,,.,, 3 SECTION 1.2. UNCONDITIONAL OBLIGATION 4 SECTION 7,1, ARTICLE II 10 INITIAL FUNDING OF JOINT SELF—INSURANCE FUND,90606660#049609 5 ARTICLE III OBLIGATIONS OF MEMBERS SECTION 3-1. Agreement to 5 SECTION 3.2. Bills and Due 6 SECTION 3.3* Calculation of 6 SECTION 3 A. Provision for 6 SECTION 3,5* Default 9hares,.• .6 SECTION 3.6. Disputed Payment; a *004 6 SECTION 3,7* Interest on Overdue Payments 7 ARTICLE IV ARTICLE V REDEMPTION OR DEFEASANCEOOO*G*o*O*ooe*0000000coeoec*oasooeo 8 ARTICLE VI NEW MEMBERS; EXPULSION SECTION 6.1, New 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 S9SS9JPPV BOT40M - V qTqTqxa Zit 0 0 & 0 a a 0 0 * 0 0 a 0 0 0 0 0 0 * 0 * 0 0 e 0 0 0 * a 0 a 0 0 0 0 Ul all ' L * 6 MOI IMS Z o900000seso* 9Tq?DT-EddV *9 " 6 NOUDZE; IT 0000000*00000000-*--sliedialuno:) UT UOTqnoexa '506 MOUDaS IT aAT409JJOD pUe seousinssv jaq4jnj 'V*6 NOIlOaS IT *E*6 NOUDaS IT 6UTPUTJH *Z*6 NOIlOaS IT *T*6 NOIIOZS SaOaNVqUSOSIW XI aloiluv IT*6000#00000*00*060800o*e00000s000*04U9MU6TSSV *Z'8 NOIlOaS OT 90996000000000960800ouaaA00 04 quawaaa5v ST41 *T*8 monoas INaWNDISSV !NHaAOD 01 mawaanv sim IIIA a7DIlHV M 1'k1 9 10:4 Zfteiellhl:4 Iil I'kl 141:4 Of FIA MAY-" 80 20:4 � 4:4 kN it MU Ztelva PJ *am WO) 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 PLAINESr VILLAGE OF GLENVIEWf VILLAGE OF ARLINGTON HEIGHTS, VILLAGE OF SKOKIEr VILLAGE OF STREAMWOODr VILLAGE OF WINNETKAF CITY OF PARK RIDGE, VILLAGE OF MOUNT PROSPECT, VILLAGE OF LINCOLNSHIRE, VILLAGE OF OAK LAWN, VILLAGE OF DEERFIELDr CITY OF'WHEATON AND VILLAGE OF CHICAGO RIDGE, each a municipality duly organized and existing under the Constitution and law's of the State of Illinois (each a "Member" and collectively, the "Members"); WI T N E S SETH:. 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 seg., 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 PrIency 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 2c 10 P9PTA0jd punj 9Aaasai aouleansuI-g-EaS qUTO1 aqq 30 6U-[PUTIg 9T4q 4Pq4 P9UTIUlaq9P iaqqjng pApq, sjaquiew aq:4 IS ValdaHM PUP !qU9WaaJ5V STqq go UOTqnoaxa aq4 p9ZTaoq4nv spq jaqivaW qova go Lpoq 5UTUlaAOB aqq SVallaHM PUP !;U9UJ9aJ5V STq; JO UOT;noaxe 9q4 p9ZTjoqqnp S?q 4OU95V aq; go S10409JTC go PIPOS aq; 'SVZIIaHM PUP O'UO9J9qq ;SalaqUT 9q; PUP SPUOS aqq go quaiu4pdaj JO qUaUl9JT;9J aq; JO aJ?qS 91PUOTijodoid s;T Aed 04 P9;R6TTqo aq TTvqs jaqtuaW qopa qDTqM UT J9UUeM'aq; TTPqap 9JOUI UT 9PTAOad o; ST ;U9UaaaJBV STq; go aSodina aqq 'SVa-daE[f4 PUP !s,sPUOEs, 9q4 SP 04 PallaJa3 4T9AT409TTOD UTBlaq 0 aje spuoq TST4TUT aq4 pup spuoq TRUOT jTPPR 9q4 ISVZHaHM 0 pup !punj aAjasaa 9oupjnsuj-jjaS 4UT01 aqq lOg . a 6UTpung .79q4.ing apTAoid 30 qSTU9Td9.7 o; spuoq TeUOT4Tpple ansST 4ieui 4-4Tqua .79q:jo amos io ls:laqwaW aqq go aiom .7o auo i4ouaBv a144 IPT44 9UIT4 04 allIT:4 WOJJ ;9-[qTssod ST 4T SVaHZHM pup !punj aAlaSaJ aoupjnsuj-3T9S JUTOC Bons JOg BUTpung TeT4TUT aq; apTAoad 'I a U T:4e�TTqO Tpiauaf) 04 (,,SPuOEI TPT4TUI,, aq4) L86T SaT-laS SPUOS 0 0 & 0 000,000ISt pansST s?q a5?TTTA aAOJf) XT3 'Sva'dZHM pup !zaqmaui 4SOq TPT4TUT SP la6PTTTA 9AOID Ntl .Kq pansST spuoq go spaeooad moij PaOUPUTJ ATTPT'4TUT punj aziiasal 0 0 0 a aouiejnsuj-j-[9S qUTO1 r Aq pallopq ;aq oq -Ismeq.Ag pup qopaquoz) 9q 0 IIIA 8TOT.4JPaTjToads 96ejaA0o go 4unowe aqq 9SPaIDUT 4 9-1 & UT 04 P9UTurf 94ap aA?q saaqmaW aqq pup Aoua5V aq4 ISVaHaHM pup !(,,95Pa9AoO go mnpupiomew,, aq4) 9UIT4 04 9WT4 UIOJJ P9PU91HR S? JL86T 'T TTdidgo aqPP aAT43PO2491 aqq BUTileaq ,,195,e.7aAo:) go urnpupiomaW,, P pup (,,smeq.As pup 40'el-WOOt, aq4) ,TOOd A4TTTq-eT rl 0 SSBOx,7 TaA9rl-45TH -- SMPrl-AS Pup 40PJ;U0D,i PaT4T4ua 4uawaaa6p UP 0:4 :4upns.7nd sa:jejado pup :iapun L86T JT TTjdV go SP p9qSTTqr4sa spm AouabV aqq ISVZHaHM PUP !aWTq 04 alUT4 MOIJ papuauis aq Am 95eaaAoo go adoos qOTqM lAOU95V aq4 go a6saaAoo go adoos aq4 UTq4Tm papnTOUT S9Tq:ipd ;raqqo pup s.7-aqivaW aq:4 :4S'UTp5e apew SUOTSSTUIO PUP SIOI19 30g SUITPTO so A4jadoid ao suosiad oq saTantUT Jog SUITPTO Aq -r T T,q P T IT JO BUTUaSS9'1 :10 UOTquaaaid 9q:j-bu-*pjaas o asodand aq4 .7og Tood 9oupjnsuj-jTaS qUTO1 P SV AOUa5V 9qqP9qe93O 9APq sa-aquiaW aqq IsmpT aAoqie aq*4 oq 4upnsand JSVa-daHM pup !saT4TunMMT go 96upi P qjassp oq squauiuzaAoB painsUT -.4Tas smOTT? Pup c-)c)uejnsul-.;TaS qUTOC aoj s4opaquoo ie9A-T4Tnw 0 0 0 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 101:40ok" 00 ZIPI", 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.." 'therein," "hereunder" and any similar imiilar termst-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. - arm 'S9SS9JPPV 9OT40N :v qTqTqxa 0 :4U9UI99JbV STqq JJO 4aed e appm apuaiagai Aq pup loq paqop4qe ST qTqTqxa SuTMO 9ql *'4TqTqxa OZOT moiloas *Aoua5v aqq Aq PaPTAoad aoupinSUT aqq JO a5RJ9AOO go adoos atp q4.7.oj 5UT:4:IaS "alUT4 6 a- 0 04 9MT4 MOIJ PapUaW? SP 'L86T IT ITadv go aqpp BAT40PO349J aqq 5u,raleaq wnpue.7ouiam aqq supam ,a6paaAoo jo wnpue.7omaw,, *Aoua5V aq4 Aq Pa43aTas A4-T:4ua 1aq4o Aup .7o .7aqmaW 4SOH P "ADUaBV 9q4 J.7aquiaW ISOH T.PT4TUI aqq 5uTpnTOuT JspuoE[ go , zanss'T Aup supaui ,aanssj,, -SPUOE JPT4TUI aq4 go '9nsST SP JSTOUTTTI 195PTITA aAO.7f) :ITa 90 95PTTTA 9q4 supaw ,:xaqwaW 490H TPT:jTUj,, a -aaquiaW 4SOH TPT4TUI 9tO JO 'TL86T S939S 'SPUOE a - UOT4P5TTqo TpaauaE) 000,000'St aq4 supaw ,SPUOS TPT4TUIll -quawaaa6v sTqj Japun ADUa5v aq4 go 6 ;Teqaq uo jo aoj ssaupaqqapUT anoUT aSTM39qqO ao spuoS anss 0 & a T 0-4 AouaBV aq4 Aq p9'40aTas jaqmaW Aup sueam ,.7aqmaW :jsojj,, •J09laq T*E UOT409S UT PaPTAOad 5UTUPaW 9qq atiieq TT?qs ,:IuamAeci 90TA19S qqaCli `L86T IT TT3dy go se AOUa5V aq4 BUTqSTTqpqsa JsaaquiaW aqq pup AouabV aq4 5uouir J8WT4 04 aWT4 WO:lj p9pUaMe sr ITOOd A4TTTqeTrj SSaOXq Tc-),&arl-lqE)TIJ -- smprl-AE pup qovjquoo aq4 since m ,smeri-As pup 4oe1-4uo:),, -spuos go eouensST 944 9ZTjoq4nP TTTm jaquiew qsoH 4 0 P qDTqM iapun aOURUTPIO puoq v supam.119 aPIO PUOEII 0 OUPUT -SPUOE IPUOTqTpPV go sanssi TTP PUP SPUOE T?TqTUI OT44 SUle9Ul ,SPUOE,, OJ09Jaq T -E UT UOT409S 6 . P9PTAoad 5UTUP9W 9q4 -ex;s ,s-4unow ao-rA;ias qqa(3 94ie69;i55,V,6 a 9APq TT -PUnj 9A29S92 a3UPlnSUj-JT9S qUTOC aqq IOJ bUTpunj 9 9 0 TPUOT4TPPP apTAoid JO qSTU9Td9j o4 'Aoua5v aq4 Aq Pa409Tas A4T4ua jaqqoup jo saaqmaW 4soH snoT. IPA JAoua5v aqq Aq spuos T?T4Tul.aq4 go eouensST aqq 04 quanbasqns p9nSST aq oq PaZTjoqqnp ssaupaqq9PUT JO saou9pTA9 19440 10 SaqOU ispuoq TeuOTqTPP? go SaT3as aloul Jo auo supaul ,sPuOS TPUOT4TPpVjj 04 00moo 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 Directors 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, SECTION 3.1. ASreement 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 -1--he 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- ' a4ndsTp UT 4unoure aqq pine 94ndsTp .xo; spuno35 aqq 'pagndsTp ale s95Jego 4eq4 houa5v aq4 04, UOTgE?DT;T�.ou uaggT.7M quaurked gons q TM apnTouT pup anp uagM quaurAsd Mons 4ue 3o 4unouze TTn; aqq 4ed ssaTag4aaA9u TT.egs aaquraw 9q4 ' quauzaaJ5V sTgj sapun s4uamAed 4ue ;o 4=pd thus so TTP agndsTp' 04 saJTsap laquraw a ;I ' squaua ed pagn sTQ *90C NoIloas gsaaaquT gons Aue buTpnTouT 'qunowe paq-Enp;ap gons ;o azegs aleuoT-4.iodoid s -4T zaquraw gosa o4 ,fed ITTM AouaBV a44 ' uoT:.o�as sTq'4 sapun Aoua5V aq:. o-4 -4ua=r ed p apew aneq szaquzaW aqq goTgM .zo; uoa.7aq-4 -4sa:xaJuT jo qunomie paglne;ap e. ;o Aouabv aqq o4 quamAed a smear saquzaW 6uT4Tne;ap aq4 uagM pine ;I ' aapunaiaq saquxaw aqq Aq anp 4unouze aq:t ;o suoTgP-EnoTeo s , Aoua5V ago apnTouT TTegs pupurap aql ' jo;ajaq:4 pueurap uaggTjm s , oua5� aq zap;e seep ( S ) aAT; aTgeAed pine anp aq TTPgs squnoury aaTnaaS ggaCl agp5a:z55V pa:tTnp;ap ;a aiegs s,.7agmaW V-uoTqzod s, iagwaW 5uT4Tne;ap aq�. zanoo o� AT94puoT4jodoid pagsn[pe ' 4uaurAed aoTnaS ggao quaoaa 4sus,raquaW ons suoT4.iodozd auzes aqq UT aq TTiegs a.zPgs goTgM 'Aoua5V aq' 04 4Tne;ap UT os qunowe aqq ;o aipgs a Aed o4 saajbe aagmaW goea 'sluaWASd aoTAJa' :4qaQ sqT ;o 4.jed true ;o Aoua5y ate: oq quamAed aqq uT 4-jne;ap TTsgs aagwaw 4ue jI « saiegS 4Tnsjac ' S' E Noilo'as ' s T seq AT9WTq a uo quaWAPd aoTAsaS ggacl s4T aNPw 04 aTgeTTene spun; aneq 04 sp os 'saXe-4 AAaT 'Aipssaoau azagM 'pus .7o; ga5pnq '9qe-rjdo.7dde oq seazbe Agajag jagwaw goes ' quaur ed zo; uoTsTnoid • V • E NOIlOaS ' sMeq-rig pine 4oe=4uoo aq4 ;o suriaq aq4 sapun Aoua5V aqq o4 s4uamAed sqT ;o uoTgiodoad aq4 se squnourV aDITniaS ggaQ agsb9a56V aqq ;o asegs 94puoTliodoid amps aqq Aed TTPpgs aaquraW V • iaquraw goea ;o quamAed aoTnjaS 4gaa aqq o 4unome aqq 94eTnoTeo TTens Aou95V aql #4unomv ;o uOT,4P nO e T T :) OEOE NoIsoSs .spuoq gons off. 5uTgPlal sa4ep 4uamAed �ua�a;;Tp A;Toads gear AouabV aq4 jpanssT ale spuog TeuoT4TppV 3I •spuoS aqq uo aoTn19s 4gap ;o quemAed jer; ' ST =agmanolq pus ST APW azo;aq xo uo ''spuag aljq ;o sianssl jo janssl aq4 oq szagw9w aqq Aq pTed s4unoury aoTnaaS ggaQ age5aj55V aq4 Aed TTegs Aou95V aqs •zeaA gons ;o T jaquranoN Pus T xeW aao;aq zo uo Aouabv aqq Aq panTaoaJ aq 4snui pus aTgeAsd pus anp aq TTegs goTgM ' suatupd Tenba oM gons ;ounouze 9q4 A;Toads TTpgs 9DT40u Tenuus gons '5uTpue4s4no aae spuoS 4egq lPaF goea ;o T TTadV ajo;aq jo uo ' JeaA u9nT5 a Jo; anp squamApd 90TAJ9S ggac s , sagwaW gons ;o 4unoure aq,q ;o iagwaw goes A;Tjou TTegs Koua5V aql •'a4eQ anQ pup sTTTS 'Z'E NOLLOas ' sm?q-trig pup 40?J4uOD ago ;0 XI 9TOT41V ;o (e) gdp.75e.red ;a aoue4uas 4s:IT; 9q4 off. 4uensznd Aoua5V aqq 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 fall 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. VIXN"COOPWVA .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, howeverr, 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 Membcr 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 proportioilate share of the additional Aggregate c M. ST Ja5uOT Ou jaquieW jamjoj aqq qbnoqq uaAa JpTed ATTnJ 9JR SPUOS aq4 TT4un 'ADU95'V 9q4 04 Pa ' BUOTaq spq jaqwaW qons jpqq poTiad aqq 6u-r.inp 9PPIU SUOT4nqTi:[uoo 9:4e5aj55,e eqq go, 9.iey4s aqieuoTqaodoad TTleJaAO S .7equiaW tons uodn pasT->q pup Aoua5V at; Aq pa4eTnOTPO SP 'S4UaUIAPd aDTA19S qqa(3 OTPOTiad A?d o-4- anUT4uOO TT?qs jaquiaw aauljog v ":IaAoajow -ainq.7ledep asqT JO 91UT:4 911-4 qp quenbUT-rap SPM 4T aOTA29S qOTqM JOJ S4UaUlASd -4qa a 10 C AUe 30; p94P5TTqo ATTnJ aq oq anuT4uOO TTP4s jaqwaW naming aq4 ismeq.Ae 'pup 40eaquoD aq4 go AX 9TDTqZV 0; qurnsind Aoua5V aqq wO2J PaTTadxa S T .7 aquaaW ie j I - s.7 a quiaW 0 JO UOTST Z' 9 NOILloas *Aoua5v aq; Aq aqpTjdoidde aq oq pauTmjaqap qunome up UT lAOuq5v aq4 o*; inns TVUOTqTppe up Apd oq Aoua5v aq; Aq p9JTnbea aq Aem spuoS go 9nSST qDP9 go aouensST TeT4TUT JO a4ep aq4 MOIJ 0 spuos aq:1 uo squnomV aDTAaaS :4qaCl aqeBaj55V aq4 o:t p94nqTJ4UO3 :tou seTq oqm iaqmaw mau qons Auv -smeq-As pup qOejquoD aqq 90 (TTT)( T4 )A 9TOT4.7V pup III aT3T-.4-7V 04 4wensind Aoua5v aq:t o4 PaqqTMpe aq Alem .79qwaW mau V osjaqwaW maN -T-9 NOI102S NOISqndXa !sHaswaw MaN IA aqDIIEV -AT6UTPJOOOP eqeqe TTeqs SqU9UIAPd aOTA19S qqa(3 JeTn5aa s.7equiaW lqons pup Jaoupspajap .70 UOTqduaapa.7 lions 4STTdw000p oq papaau spun] aqq JO alPqS 94eUOTqaodojd sqT qSTUjnj uoanaaaqq TTPLIS jaqwaw qoea LIOTT4M UT .7aUUeUl aqq apTA6.id 71Tetjs Aoua5v aqq uqqq 'Aoua5v aq4 jo s lod4oalTO JO PIPOS 9q4 go UOT43? uodn 9P?UI PPaqSUT ST aDUeSP9j9p JO UOTqdwapea aqq jj -papuaqxa aq 40u TTeqs S4Ua�aAPd 90TA29S qqaa. qons go maaq aq4 pup 6UTpu?4sqnO TTT4S 9JaM SPUOa 9q4 JT SP anUT4uOO TTPqs T*E UOTqOaS lapun SqU9MA?d aDTA19S 4qaa sjaqwaW aqq uaq4 Jj9nssI jossaoons P .10 JspuoS -40 ansST Up JO janssj aqq Aq AT9TOS paqSTUang 91P aDUeSP9;9p 30 UOTqdwapea qons apTAoad oq spunj aqq jI 01 spuola eons 04 5UT4PI93 s6u�paaooad aqq UT q420j qas sinaaq aq4 uodn pup S9UlTq 9qq 4p spuoS go ansST up aseagap ao waapea oq 5UT409T9 MOIJ 6 It f aanssI up io Aoua5v aqq quaAaad TTPqs UTa-2911 6UTlq:40tq �* W5 T Ic to tcr, I A allDIIEV *SPUOff BUTPU?4s4no jo qunouip 195JPT 9q4 04 qoadsai g4TM aTqeAvd squnourV aoTAiaS 4qaa 94e5al56V PaSealOUT 9744 JO 4'uamAed aq-4 jog apTAoid oq pa4sn1pp 0 aq TTTm squamAPd aDIOA19S 4q9C TenpTATPUT sjaqivaW qons Jos op o4 5UTS00140 fou siaquiaW jod -9UIT4 qlet;; 4 P9UTWJaqap aq oq poq4aui p Aq JsPuOS TPUOT4TPPV qons uioij BUTqTnsai squnourV aOTA19S 4qaa 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 contributions 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 isnot 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 Memb4rs, 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 theperiodit was a Member of the Agency or there are other Mac quanbasqnS aT4:4 go SUOTSTtioad pup sm.79:4 aq4 o4 :4oaCqns ismerl-Ag PUP 40PJ4UOD 9q4 UT Pap�AOjd sr sasodand -rn;'mrT Aug I 6 ao; pasn, aq ARW spuos go spaaoojd aql *sm?q-Aa PUP lOej4U0D aqq go adoos aq:4 pupdxa pup quaivaTddns o4 4UaUI99J6V STqq 04,,TJ,7f)UTj=14Ua, a 04azat4 S9TqjPd jqql -UlaAO,!) 0:1 ZUaWaaS'TT41, *T 8 NOI103'S INaWNDISSid !NHaAOD 01 mawaauov siHi IIIA aqDIltr� -saaquiaW aqq JO S-4tl ' 5TI age.0:4 4oadsaj t14TM UOT139S STT44 LIT t44JOJ -49S SUOT:4?qTUIT-[ 9t44 UO 93UPT'[a.7 OTJToads UT SPUOq ;JT ansST anss '4UaWaaJ5V STtJq 6UTAojddP aaqwaW qopq go TTTM J I uv a 0 - aDUVUTPIO 9144 UT papnTOUT aq TTPqs BOua4uas aAoqe aql *iapunaaaq squeuiAvd TTR al'IPM 04 pa4P5TTqo ATTPUOT4Tpuooun PUP AT94nTosqp aq T Pqs,, saaquiaw aqq qpLlq .7atl JU luosiad jaqqo T Joe aJUT 9144 5UTaq 4T 0 Aup jo Aoua5v aq4 ao saaqmaW aqq Aq 0 9Tqea9sa`jojun .70 aTqeaasa.7og ao uaasaaogun ao uaasajoj jaqqaqm JADU95UTqUOO JO UOT4TPUOO lquaAa Aue go aouaian000 20 aOU94STX9 aqq go jun000p uo jo uOsPaj Aue jog Aoua5v aq4 Aq paqSTlqeqsa punj AUR UT squnomp Aue UO U9TT Ou PUP 'AOu95V 9LI4 0:4 -4 ' U9UI9925V STqq a9pun anp awooaq oq ao anp squnowie age.4SUTiebe ggO-4aS 30 UoTqonpaa JO 4q5TI OU JMeT 10 JU9UIaaa5V ST44 JO SUOTSTAoid aqq oq XjPlqUoO Jo Jol.*7a UT pTpd ss9Tun 4UaWa9J5V STqq 39pun PTed ATSnOTAajd squnomp Aoue6v a aq4 UJOIJ 19AOOBI 0:1 '4tJfDTJ OU "4U9UI98Jf)V STtlq japun anp amooeq oq ao anp squamApd Aoua5V 6t;q uioag PTOqqqTM 04 4q5TJ OU 'qU9W9al5V STq4 PUTOS93 20 JaDUPO J9:4?UTUI..Ia:l, 04, t15TI Ou aAPq TTPqs saaqmaw 9111 • TPUOT4TPUODUfl U *r,-,4*eb,TTqo s,:taqmaW • Z' L NOIlDaS 'UTBlaq SUO T4TPuOD Pup SmJ94 9q4 04 AJel4UOO UOT4?Tn5ea .1 a qq. 0 .70 0 .70 mPT 40V aqq UT 95UP40 P 39PUn SUOT40P AUe 9XR4 TTPqS 0 0 Jma44 90 TTP 90 quesuoo SnOMTurun aqq 4noqqTm 14oua6v aq4 iou saaqmaW aq-4 PUP -4UaM99a I �5V STL;q JO SUOTSTwad ao sm:xa:4 aq4, Jaq4T9U go Aue 4oa.;ge TT?Lls 90a.19t;, 94PP 9TJ4 0-4 4uanbasqns UOT4?Tn6aa: ao, mpT aaqqo 9 .70 :JDV aq-4 UT a5ustlo ou 4Pq4 P9pU9:IUT Aq9.7axq sT qJ 6saTqjed 9q4 Aq oq paea5p ave pup joaaaxl su'O'T4TPuOD 9TqeooAaaaT pup 94nTosqp aq of p9PUaqUT 9JS UTalaq P9ULeqUOD SUOTqTpuoo pup SM.7aq TTV 'SUOT4TPUOD alqeooAaaji pup aqnTosqv -T*L NOIlOaS NOIIVDIqeo avNOILIGNODIM IIA 270IIEV '9Aoqp P9pTAOjd sp pa4pTnOTPO lu'T,PTO Bons JO aJPqS S4T joj squauiAed AJP4u9maTddns jo; -1-reo s oq qc)alqns aq -IT-etls iaqwaW P9TTadxa aq4 Ismerl-As pup 40pa4uoo aqq iapun POTied eons jog saaquiaW aqq woj; anp sums Documents under the Escrow. In the event of a confl-ict between the provisions of this Agreement and bf the Contract and By -Laws, this Agreement 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 Most Member pursuant to or payable from Debt Service Payments made pursuant to this Agreement. a Ir SECTION 9.1. Notices., All notices,, certificates or other communications hereunde-r 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 addre-sses 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, Severabilit 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 9A., Further Assurances and Corrective Instruments. The Agency an the Members agree that they will, from time to time, execute, acknowledge and deliverr, 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. ani in Counter arts. This Agreement may be executed in any number of counterpartsr 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 Agency, the counterpart of this Agreement delivered to the Agency shall be deemed the original. -11- puP goEjquoD aqq Aq pajTnbaj squamApd hze4u9waTddns jo quamaaj5V ST114 zapun panssT aq oq paeu Arm spuoq TpuoT4Tppe 4eg4 pine houabv aqq go mlaq leaA 44TT aq4 go pug aqq :4e umouN aq 4ou TTTm sutTeTo Bons go 4unome aqq 4eg4 aSpaTmouNoe saT;jed aqs, • Aoua5v B144 90 wsaq Ten4oeJ4uoq ago 6uTjnp aoeTd Nook aouazzn000 4eg4 se 5uoT os aoualxn000 JTagq ;o sJeaA QT uTggTM spew WTeTo AUR apnTouT 0:4 p9pua4xa aq Arm AOU9 V aqq go adoos aqq 4?qq Aou95V aqq Aq aTgeAed aq TTegs s.zagmaW ago gsuTle6e apeuz suzTeTo aq4 :teq4 quamaaa5e sTgq ;o aauassa 9q:4 apeur pule P96paTMouNop ST 41 • r�oua6V 9q4 3o suaT4P5TTgo aqq punj 04 pazTnbaj air spuoq gons janauagm spuoq TeuoT�Tppe go aouenssT aqq 8JTnbaz pine 4TmJad 'azTjoggne oq pua4xa TTegs qu9w9925V sTgj 3o wza4 aqz •886T 'TE uoJe'W J94JF uOTSTnozd sTgq japun pappe aq Arm szaquiaW TeuoTgTppe ou gega q ljnamoq �papTnaid :886T 'T gojeW jagje quawaaa5v sTgq 94noaxa 04 9JTsap gleg4 sjagwaW jaggo AAP 04 qu9usaaJ5V sTg4 go s4T jauaq aqq pua4xa off. p9J Tnbai aq TTTM 886T 'T gozeW Aq 4uaWa9JbV sTgq pa4noaxe pue panozdde oqM sjagmaW aqq jQ ajon h4Tjo[em a "papTnoad anogeuT92aq SP anT409j;9 awooaq saop qu9uraa=5V sTg4 3I •pTOn pule TTnu aq TTegs quawaaz5V sTg4 '886T '"� gojeW Aq quawaai5V sTg4 agnoaxe pue anoadde -4ou op sxagwaW go .ragmnu pa.7Tnba.z aq4 -4eg4 quana auq UI * 409JJa pue aOIOJ TTn3 UT aq TTpgs 4uamaaa5p Bons uagq 9V • V el�{gauuTM 86°9 u04e9gM 8T•V poomwealls ZS • QT aTMONS 5Z119 96pTd Mara EZ•6, UmPq Neo 9L°L 4oadsoad qunoW VE • T aJTLjsuTOouTrI 09.9 sa4v4sa uewJJog QZ119 MaTnuaTo 1179•L 95?TTTA anozo NTa 6E•TT sauTeTdsaQ 95°E PTaTJ299Q vz • Z a6PT-d OSeoTgo V91111 sag6T911 U045UTTJV UOT4POOTTV A4TTPdTOTunW :suoT4p00ZTp a5squaoiad 5UTMOTTO; a94 30 azouz zo 5L tu9g4 6uouze 5UTneq ssagwaW hq pa4noaxa pue panozdde uaaq aneg TTpgs qu9uzaaz6V sTgq `886T 'T goxeW aaojaq ao uo ';I •wzal 'L•6 NOIlDaS 'sTouTTTI 90 84p4S 9q:4 90 SmeT age ggTm aousps000e uT panagsuoo pup 4q pau.79no6 aq TTegs 4u9uta9z5V sTgs •m?rl 9NEOT .TddV 9' 6 oIs aS 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 VILLAGEr Initial Host Member By President VILLAGE OF HOFFMAN ESTATES, Member By President CITY OF DES PLAINESt .- By Mayor -13- mrac U_a�p T saga .iaqivaW jvxiamNim do aovqqIA As jaqmaW do aDVqqIA :4UaPTS9J.d AS i a qmaW aimoxs do aDVqUIA 4U9PTS92d Ala .79qwaW JSIHDIaH NOIDMIqEV JO ZOVIIIA 4uapTsaad .79qwaW 'MaIANaUD JO aDVqqIA vsIaNNIM do aDVUqIA aHl do XHa7D aDVqqIA :4sa4qv coomwva,Hls Jo aovqqiA aHl do xHaqD aovqqiA —Aa aimoms do aDvqqIA alll do NuaqO aDvqqiA :4sa4;v SIHOIaH NOIDNIUHV do aDVqqIA alll do XHa7D aDVU7IA :4sa4qv Se MaIAMaM do aDVU7IA alll JO XHaqD aDV7qIA ,qsc 144V Attest: CITY CLERK OF THE CITY OF PARK RIDGE 0 Attest: VILLAGE CLERK OF THE VILLAGE OF MOUNT PROSPECT Attest: VILLAGE CLERK OF THE VILLAGE OF LINCOLNSHIRE By Attest: VILLAGE CLERK OF THE VILLAGE OF OAK LAWN M Attest: ,VILLAGE CLERK OF THE VILLAGE OF DEERFIELD CITY OF PARK RIDGEe 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 DEERFIELDy Member By By President -9T- quapTsaaa aDcIH OOVOIHO 3O x agmaW a JVg7Ill. alll 3O XHaUD aDV I'I Ill `aOQIE ODVOIHO JO aDV7gIA sa id :1 aAPW NOsvaHm jagmaW 3O 7xlIO alll JO X? aqO 7SID NOIVaHm aO AlIO : q S944V 1*44"03 • Q [sip 0 C012-2 FADI -01 A 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 Villager Illinois Elk Grove Village Hall 901 Wellington Avenue Elk Grove Villager IL 60007-3499 Attn: Village of Hoffman 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 Streamwoodf IL Attention: Village of Winnetkar 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, ncolnshire, IL Attention: Village of Oak Lawn, Illinois Oak Lawn, IL Attention: Village of Deerfield, Illinois Deerfield, IL Attention: -17- MAC :UOT4U94jV rjj 96RITH &5po S-rou-r-[Tj "96r)TW ObeDTqo JO 95PTTTA -oUOT4Ua4qV qj , uoqeaqm STOUTTTI luO4vaqM 90 A4TO W/o qo@Cojd sTqq sod SqUaWaAOjdwl GqBATdd aqq @AOjddV PUB SqUaWaAOadwl DTlqnd aql qdaooV pjaoG @belITA Gq4 PUaWWO3@J Aqajaq aM •Pa46DTPUT SIEAOadde jje4s ggTM wjo,4 aoue-4cjqz)Oe paeoU @belITA aq4 ST PaL4z)e4qv -jjeqs abelITA aq4 Aq PaAOjdde PUB p@q@ldwoo uaaq aA8q PeO8 PUB8 e] LOQ qe qo@Coad jaquaj @DTAJ@S V aoueuaquTeW oqnV aqq aoj pajTnbai SqU@WaAOjdWT @qj peod PUB8 *1 LOL daqU@j a3TAJ9S )2 @DUBUaqUTeW oqnV :incens 8861 I5Z AaenueC :31V(l j@@uTbu3 abelIT-A :WO8j jabeueW abalITA 'UOXTQ uoqlnj uqoC :01 ................. jj� �� Pourill =now . ............... . . . . . 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