HomeMy WebLinkAboutRes 27-95 08/01/1995/caf
7/26/95
RESOLUTION NO. 27-95
A RESOLUTION APPROVING A PROJECT TO BE FINANCED BY THE
ILLINOIS DEVELOPMENT FINANCE AUTHORITY AND RELATED MATTERS
WHEREAS, the Village of Mount Prospect is a municipality duly organized and validly
existing under the laws of the State of Illinois; and
WHEREAS, the Village Clerk of the Village of Mount Prospect received written notice
on July 18, 1995, that the Illinois Development Finance Authority, a political
subdivision and a body politic and corporate intends to finance certain facilities
described therein for the benefit of, and to the owned and operated by, Little City
Foundation, an Illinois not-for-profit corporation (hereinafter known as "Project") within
the corporate boundaries of the Village of Mount Prospect with a portion of the
proceeds of its Special Facility Revenue Bonds, Series 1994 (Little City Foundation
Project) issued in the aggregate principal amount of $7,500.000 (hereinafter referred
to as "Bonds") and that the Village of Mount Prospect has forty-five days to object to
or approve the Project; and
WHEREAS, it is considered to be necessary and desirable by the governing body of
the Village of Mount Prospect to approve the Project.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF
TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS:
SECTION ONE: The Village of Mount Prospect hereby approves the Project and the
financing of the Project with a portion of the proceeds of the Bonds.
SECTION TWO: The Village of Mount Prospect hereby waives any right it may have
to disapprove the Project and the financing thereof with a portion of the proceeds of
the Bonds within forty-five (45) days of the mailing of the written notice referred to in
the preamble to this Resolution.
SECTION THREE: The Village of Mount Prospect, the Village Clerk and the other
officers, officials, agents and employees of the Village of Mount Prospect are hereby
authorized, empowered and directed to do all such acts and things and to execute all
such documents and certificates as may be necessary to carry out and comply with
the provisions of and to further the purposes and intent of this Resolution, including
the Preamble hereto.
SECTION FOUR: All acts of the officers, officials, agents and employees of the
Village of Mount Prospect which are in conformity with the purposes and intent of this
Resolution be, and the same are hereby, in all respects, approved, ratified and
confirmed.
SECTION FIVE: The provisions of this Resolution are hereby declared to be
separable and if any section, phrase or provision of this Resolution shall for any
reason be declared to be invalid, such declaration shall not affect the validity of the
remainder of the sections, phrases and provisions of this Resolution.
SECTION SIX: This waiver of the right to object to the Project supersedes any Village
ittle City
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of Mount Prospect regulations which may be in conflict with such a waiver. However,
this is not a waiver of any Village of Mount Prospect Zoning or Building Code
regulations.
SECTION SEVEN: This Resolution shall be in full force and effect from and after its
passage and approval in the manner provided by law.
AYES: Clowes, Corcoran, Hoefert, Skowron, Wilks
NAYS: Hendricks
ABSENT: None
PASSED and APPROVED this 1st day of August , 1995.
ATTEST: Village Presid~'"-~er~ld L. Farle~nYt I ,~
Carol A. Fields
Village Clerk