S-541 - 07/24/1984 - WATER - Ordinances ORDINANCE NO. S- 541
AN ORDINANCE AUTHORIZING THE EXECUTION OF AN
AMENDMENT TO THE WATER DEVELOPMENT COST CONTRACT
t WHEREAS, the Village of Oak Brook and the DuPage Water Commission entered
into a Water Development Cost Contract dated March 1, 1983; and
WHEREAS, the parties desire to cancel that Contract; and
WHEREAS, an amendment to the Water Development Cost Contract has been
prepared which amendment will cancel that document,
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE
VILLAGE OF OAK BROOK, DU PAGE AND COOK COUNTIES, ILLINOIS as follows:
Section 1: That the preamble hereinabove set forth be adopted as though
fully set forth herein.
Section 2: That the Village President and Village Clerk are hereby
authorized to execute an Amendment to the Water Development Cost Contract in
substantially the form attached hereto, labelled Exhibit "A" and hereby made a
part hereof. The corporate authorities are informed that the DuPage Water
Commission is currently considering authorizing its officials to execute such a
contractual amendment.
Section 3: That "An Ordinance Declaring The Intent Of The Municipality To
Obligate Itself For A Proportional Share Of The Development Costs Of A Project
Proposed By The DuPage Water Commission" passed by the corporate authorities of
the. Village of Oak Brook on February 22, 1983, is hereby repealed.
Section 4: That this ordinance shall be in full force and effect from and
after its passage and approval as provided by law.
Passed this 28th day of July , 1984.
Ayes: Trustees Maher, Rush, Watson and President Cerne
Nays: Trustee Philip
Absent: Trustees Imrie and Listecki
Approved this 28th day of July , 1984.
i
Vil age resi ent
ATTEST:
Villag, Clerk
Approved as to Form:
Village Attorney
Published
Date Paper
Not Published XX
r
AN AtMMIENT TO THE WATER DEVELOPMENT COST CONTRACT
WHEREAS, the DuPage Water Commission and some of its member municipalities
C` have entered into a Contract dated as of March 1, 1983, and known as "The Water
Development Cost Contract"; and
WHEREAS, that Contract authorized the Commission to issue interim Water
Development Notes and obligates the members of the Commission to make contributions
to the Commission to pay sums sufficient to retire such Notes; and
WHEREAS, the Commission and some or all of its contracting members have
determined that it is no longer feasible or desirable to issue such interim water
development Notes; and
WHEREAS, Section 22 of the Water Development Cost Contract does not limit the
power of the contracting parties to amend that Contract prior to the initial
issuance of Notes;
NOW, THEREFORE, in consideration of the mutual covenants herein contained and
the mutual desire of the parties to cancel the Water Development Cost Contract, it
is agreed, as follows:
Section 1: The Water Development Cost Contract entered into between the
DuPage Water Commission and this municipality dated as of March 1, 1983, is hereby
cancelled and terminated.
Section 2: Upon the cancellation and termination of this Agreeenent, neither
the Water Commission nor any of the municipalities which became signatories to the
Water Development Cost Contract shall have any obligation under such Contract. In
particular, the Water Commission does hereby relinquish any rights which it may
i` have had under the Water Development Cost Contract to require the Village of Oak
Brook to pay to the Commission sums for the payment of principal of or interst on
the Notes and does hereby waive and relinquish any right to issue such Notes as a
result of the Water Development Cost Contract.
Exhibit "A" Page 1 of 2
Section 3: This Contract may be executed in several counterparts, each of
which shall be deemed to be an original, and all of which shall constitute but one
and the same instrument. Any such counterpart may be signed by one or more of the
parties hereto.
IN WITNESS WHEREOF, the parties hereto have caused their respective names to
be subscribed hereto and their corporate seal to be hereto affixed and attested by
their duly authorized officers, all on the date set opposite their respective
corporate name.
DU PAGE WATER COMMISSION
BY:
TITLE:
DATED: 1984
ATTEST:
BY:
TITLE:
VILLAGE OF OAK BROOK, DU PAGE AND COOK
COUNTIES, ILLINOIS, a municipal corpora-
tion
Village President-yam;
DATED: 1984
ATTEST
Village Clerk
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Exhibit "A" Page 2 of 2