HomeMy WebLinkAboutRes 25-03 04/15/2003 ESOLUTION NO, 25-03
A RESOLUTION AUTHORIZING PAYMENT TO THE
MOUNT PROSPECT PUBLIC LIBRARY UNDER THE TERMS OF THE
GROUND LEASE
WHEREAS, on November 6, 2002, the Village of Mount Prospect ("Village") and the Mount
Prospect PubIic Library ("Library") entered into a Ground Lease Agreement ("Lease") providing,
among other things, for the Village to lease certain property ("Property") from the Library; and
WHEREAS, the Village has caused its attorney and staff to review the terms of the Lease and
the current status of the Property and its usage; and
WHEREAS, the attorney and staff have reported that both the Village and the Library are in
substantial compliance with all material terms of the Lease; and
WHEREAS, the President and Board of Trustees have determined that it is in the best interests
of the Village and its residents to assure that there is continued compliance with the Lease.
NOW, THEREFORE BE IT RESOLVED BY THE MAYOR AND BOARD OF TRUSTEES OF
THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS:
SECTION ONE: That the parties are in substantial compliance with all material terms of the
Lease.
SECTION 'TWO: That the Mayor and Board of Trustees authorize the Village Finance
Director to pay the Library such sums as are due pursuant to the Lease.
SECTION THREE: That this Resolution shall be in full force and effect from and after its
passage in the manner provided by law.
AYES: Corcoran, Hoefert, Lohrstorfer, Skowron, Wilks, Zadel
NAYS: None
Passed and approved this 15tbday of April 2003.
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ATTEST:
Velma ~. L~owe
Village Clerk
Mayor