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R-331 - 07/13/1982 - BOND - Resolutions Supporting Documents V. OLD BUSINESS "1a t resunimminiummemmmin...........................................,_________- 6 • „ . . A McDONALD'S CORPORATION OFFICE CAMPUS - (2909 Janie Boulevard) 1. McDonald's Corporation requested the Illinois Industrial Development Authority to issue bonds in the amount not to exceed $1,000,000 for development of the facilities currently under construction. The Village was notified pursuant to statutory requirement and has 45 days from receipt of notice to respond. Discussion followed on this tax exempt financing vehicle being utilized by a major corporation as not being consistent with the intent of the legislation. f 2./ RESOLUTION NO. R-331: A RESOLUTION OBJECTING TO AND DISAPPROVING THE lam✓ ISSUANCE OF INDUSTRIAL REVENUE BONDS ON BEHALF OF MCDONALD'S CORPORATION BY THE ILLINOIS INDUSTRIAL DEVELOPMENT AUTHORITY Trustee Rush moved - seconded by Trustee Congreve ... • To adopt Resolution No. R-331 as read by Title. Roll call vote: Ayes: Trustees Congreve, Imrie, Listecki, Philip, Rush, Watson and President Cerne. Nays: None So ordered. B. SEAL AND CHIP ROAD SURFACING (Hunt Club Lane, Washington Street., Wood Road, • Coolidge Street, and 35th Street from St. Paschal Drive West approximately 170Q feet): • Two bids were received on July 8, 1982. Tr=ustee Con reve moved - seconded by Trustee Philip ... • To award the contract to the lowest qualified bidder, Lens Oil Service, Inc. in the amount of $15,532.50 plus the unit cost of $7.50 per ton for additional '' gravel installed as determined to be necessary after 35th Street is scarified. Roll call vote: Ayes: Trustee Congreve, Imrie, Listecki, Philip, Rush, Watson -and President Cerne. Nays: None So ordered. C. TRINITY LAKES UNIT I - LETTER OF CREDIT ' I Installation and construction of improvements required by the Subdivision Improvement Agreement cannot be completed. by Swissco, Inc, by the deadline 'date of July 30, 1982. The developer further requested a waiver on the re= • quirement to rip-rap the shore of the west or upper lake. . Trustee Congreve moved - seconded by Trustee Philip ... . To extend the deadline of the Trinity Lakes Unit I Subdivision Improvement Agreement to November 1, 1982,•retaining the full Letter of Credit, and require the lake to be rip-rapped. Roll call vote: Ayes: Trustee Congreve, Imrie, Listecki, Philip, Rush, Watson and President Cerne. . Nays: None So.ordered. D. WILLIAM DUFF REPUBLIC NATIONAL BANK - LOT AREA, SIDE AND REAR YARD VARIATIONS - . (3520 and 3600 Spring Road). . • Tabled from the Regular Meeting of Hay 11, 1982. At the request of the petitioner, the variation request was withdrawn as not being necessary after additional property was acquired. • • VILLAGE OF OAK BROOK MINUTES -4- July 13, 1982 ..,... . • 4 �}�&w 4 r VILLAGE OF OAK BROOK :I 1200 OAK BROOK ROAD A© :. OAK BROOK, ILLINOIS . - • , 654-2220 I .: . .: July 14, 1982 .. ;.. : Illinois Industrial Development Authority • P.O. Box 397 • - I` . • •;Marion, ' Illinois 62959 - :Attention: Mr. Lee'Rey Brandon . General imager , . . : - .•Dear Mx. Brandon:: . : . • . The Village of Oak Brook carefully the considered the material contained in your i, letter of June 1982 dealing with the issuance of Industrial Revenue Bonds • on,behelf: of McDonald's Corporation by. the Illinois industrial.Development . ,' `Authority. : -.. At the Board meeting of .Tuesday, July 13, 1982 the Village Board approved unanim- ously Resolution No. R,-331. a Resolution objecting to and dispproving the issuance , of Industrial Revenue Bonds on behalf of the McDonald's Corporation by the i', Illinois Industrial Development Authority. Attached is a .certified.copy of . that Resolution. •If we can be of any further assistance in this matter please feel free to con- _ =tact this office. . . iaer 1 _ - . _ 1 ,;,toy s Q I • 1? _ th G. Carat. - Village Manager KGC/cak 'Attch. • cc: Mr. Paul Olsen, Corporate Attorney/P'.nance Department - McDonald's Corporation r • w