R-134 - 02/27/1973 - OAK BROOK UTILITY - ResolutionsOAK Sit"
tMl.iTy C
MINUTES 08 A _gg P�ETIH4 Bomb
OF THE PRZSn
TRUSTEES OF THE VILIJIQE OF OF R�V�hl�
OAK BROOS, DU PADS COUNTY, To 0444cm4
ILLINOIS, HELD AT THE OAS 6314
DAY 6F' srrzmtttetty , 1
a a s
The President called the meeting to order and directed
the Village Clerk to call the roll.
Upon the roll being called, ys=a? F_ Dean , the
President, answered present, and the following Trustees answered
present: JJohn W Raanhepy aeeraflgngrene,Free, MByaa�
C Orge. B Howell Edward K Q,n+.i en anfl .Tnaenh N_ �+ah __
The following were absent: Nnna
Trustee Snhn W_ Raarhan presented and the Vil-
lage Clerk read in full a resolution entitled:
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RESOLUTION confirming sale, di-
recc3'iFe officials of the Vil-
lage of Oak Brook, DuPage County,
Illinois, to execute $3,300,000
Waterworks Revenue Bonds, Series
1973, of said Village, designating
the paying agent therefor, and
directing the Treasurer of said
Village, upon execution of the
bonds by the officials of said
Village, to deliver the same to
the purchaser thereof bearing in-
terest at the rates provided for
by this resolution.
e • w
WHEREAS, the Village of Oak Brook, DuPage County,
Illinois, is authorized to issue $3,300,000 Waterworks Revenue
Bonds, Series 1973, of said Village, in accordance with the pro-
visions of Ordinance Number S -268 entitled:
"AN ORDINANCE authorizing and providing for the
issue o , 00,000 Waterworks Revenue Bonds,
Series 1973, of the Village of Oak Brook, DuPage
County, Illinois, for the purpose of defraying
the cost of purchasing a waterworks system and
ccnatructing improvements and extensions to said
system, prescribing all the details of said bonds,
and providing for the collection, segregation and
distribution of the revenues of the waterworks
system of said Village for the purpose of paying
the cost of the operation and maintenance thereof,
providing an adequate depreciation fund therefor
and paying the principal and interest of said
waterworks revenue bonds."
adopted by the President and Board of Trustees of said Village
on November 14, 1972; and
WHEREAS, said bonds have been advertised for sale and
the bid of
has been and is hereby determined to be the highest and best bid
for said bonds, such bid being for all of said bonds at a total
price of $3.234.165.00, plus accrued interest to the date of de-
livery, and said purchaser has agreed to accept delivery of said
bonds bearing a lesser rate of interest than six per cent (6%)
per annum as provided in and by said ordinance, thus effecting a
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savings in interest cost to the Village, and in and by Section
13 of said ordinance the President and Board of Trustees of said
Village have agreed to direct the execution of said bonds bearing
said lesser rates of interest, and designating the paying agent
therefor pursuant to the provisions of the notice of sale; and
WHEREAS, %Ne% ;�;RST e.,,.n...reiac Sojed,
C'H /casg„ Ttci vo.s , has been designated as paying
agent for said bonds:
NOW, TNRREFORE, Be It and It Is Hereby Resolved by the
President and Board of Trustees of the Village of Oak Brook,
DuPage County, Illinois, as follows:
Section 1. That the $3,300.,000 Waterworks Revenue
Bonde, Series 1973, of the Village of Oak Brook, Dupage County,
Illinois, authorized to be issued by Ordinance Number S -268
entitled:
"AN ORDINANCE authorising and providing for the
issue o ,3OO,OGO Waterworks Revenue Bonds,
Series 1973, of the Village of Oak Brook, DuPage
County, Illinois, for the purpose of defraying
the cost of purchasing a waterworks system and
constructing ia�rovementa and extensions to said
system, prescribing all the details of said bonds,
and providing for the collection segregation and
distribution of the revenues of the waterworks
system of said Village for the purpose of paying
the cost of the operation and maintenance thereof,
providing an adequate depreciation fund therefor
and paying the principal and interest of said
waterworks revenue bonds.'
adopted by the President and Board of Trustees of said Village on
November 1$, 1972, be executed by the officials of said Village
in the manner and form as provided for in and by said ordinance,
said bonds being dated February 1, 1973, of the denomination of
$52000 each, numbered from I to 660, inclusive, and maturing on
May 1 of the years, in the amounts and bearing interest as fol-
lows:
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1
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Section 2. That %NE F'FNS T Ca'" M.--Kc"'Ws YA-
SN rc axa- -T14 role is be and is hereby designated as paying
agent for said bonds.
Section ,a. That the officials of said Village be and
are hereby ordered and directed to have the bonds printed for
delivery to said purchaser, and to execute said bonds bearing the
rates of interest specified herein. Upon execution thereof,
bonds shall be deposited with the Treasurer and be by him de-
livered to the purchaser thereof, namely,
, upon receipt of the
purchase price therefor, being the sum of $3.234.165.00 and
accrued interest to the date of delivery, in accordance with the
terms of the contract beretofore entered into by and between the
purchaser and the Village, said purchase price being such that
the interest cost to the Village of the proceeds of sale of said
bonds floes not exceed six per cent annually computed to maturity
according to the standard table of bond values.
Section 4. That this resolution shall be in full
and effect immediately upon its passage and approval.
AYES: 7
NAYS1 0
ABSENT: 0
APPROV&Ds
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Rate of
Rate of
Year
Amount
Interest
Year
Amount
Interest
1976
$ 50,000
6.00°%
1987
$150,000
5.00%
1977
75,000
6.00%
19%
175,000
5.00°%
1978
100,000
6.00%
3.989
175000
5.10%
1979
100,000
6.00%
1990
200,000
5.10%
1980
100,000
6.00%
1991
2002000
5.20°%
1981
125,000
6.00°%
1992
200,000
5.20%
1982
125000
5.10%
1993
225,000
5.207.
5.20%
1983
125000
5.20%
1994
225,000
1984
125,000
5.20%
1995
250,000
4.00%
199
150,000
5.10%
1996
275,000
4.00'%
1900
150,000
5.00%
Section 2. That %NE F'FNS T Ca'" M.--Kc"'Ws YA-
SN rc axa- -T14 role is be and is hereby designated as paying
agent for said bonds.
Section ,a. That the officials of said Village be and
are hereby ordered and directed to have the bonds printed for
delivery to said purchaser, and to execute said bonds bearing the
rates of interest specified herein. Upon execution thereof,
bonds shall be deposited with the Treasurer and be by him de-
livered to the purchaser thereof, namely,
, upon receipt of the
purchase price therefor, being the sum of $3.234.165.00 and
accrued interest to the date of delivery, in accordance with the
terms of the contract beretofore entered into by and between the
purchaser and the Village, said purchase price being such that
the interest cost to the Village of the proceeds of sale of said
bonds floes not exceed six per cent annually computed to maturity
according to the standard table of bond values.
Section 4. That this resolution shall be in full
and effect immediately upon its passage and approval.
AYES: 7
NAYS1 0
ABSENT: 0
APPROV&Ds
...........
..:
` /,. W
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Trustee John W. Boarhen moved and Trustee
Genre B. Howell seconded the motion that said resolution
as presented and read by the Village Clerk be adopted.
After a full and complete discussion thereof, the
President directed that the roll be called for a vote upon the
motion to adopt the resolution as read.
Upon the roll being called, the following Trustees
voted "AYE ": John W. Beechen_ [Sense Con¢reve. Fred Haves.
Ceoroe n Howell Edward K Qtprien gad oseoh H Rush
and the following Trustees voted "NAY": none
Whereupon the President declared the motion carried
the resolution adopted, ant henceforth did approve and sign the
same in open meeting, and did direct the Clerk to record the sam
in full in the records of the President and Board of Trustees of
the Village of Oak Brook, AuPage County, Illinois.
dtJtiut.t,sc.t.�
age Me=
R -134
STATE OF ILLINOIS )
3 COUNTY OF DU PAGE SS
I, Lorraine E. Fricek , Village Clerk of the Village
of Oak Brook, in the County and State aforesaid, do hereby certif,
that I am the duly qualified and acting Village Mark of said
Village, and as such official I do further certify that I have
the care and custody of all official journals and records of the
President and Board of Trustees of said Village, and that the
�) foregoing resolution attached hereto, together with the minutes
of the meeting of the President and Board of Trustees showing the
adoption of said resolution at a I•&IA ar meeting held on
the .27th day of Feb ,,, 1973, is a true, correct and com-
pared copy of tha original thereof now On file in my office con-
firming sale of $3,300,000 Waterworks Revenue Bonds, Series 1973,
of said Village.
IN WITNESS W88RSOP, I have hereunto affLred my hand and
the corporate seal of the Village of Oak Brook, DuPage County,
Illinois, this 271-.h day of X$&n.a,W . 1973.
(SEAL)
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