HomeMy WebLinkAbout08-30-1983 Council Meeting Minutes 433
A Special meeting of the Canton City Council was held on August
30th , 1983 in Council Chambers .
PLEDGE OF ALLEGIANCE OPENED THE MEETING FOLLOWED BY THE INVOCA-
TION GIVEN BY MAYOR DONALD E . EDWARDS .
Mayor Edwards asked for roll call at 6 : 00 p .m. Present : Alder-
men Kovachevich , Hammond , Sarff , Workman , Carl , May , Horr . Absent :
Alderman Savi11 .
PURPOSE OF THE MEETING :
a ) to consider and take final action on a "Resolution
Committing the City of Canton in its application to
the State of Illinois for a Community Development
Assistance Program Grant ; " and ,
b) to consider and take final action on a "Resolution
Committing the City of Canton in the issuance of
Industrial Revenue Bonds for the purchaser of the
International Harvester Company Canton facility.
RESOLUTION - COMMITTING THE CITY OF CANTON IN ITS APPLICATION TO
(29 THE STATE OF ILLINOIS FOR A COMMUNITY DEVELOPMENT ASSISTANCE PRO- ,
Q GRAM GRANT. First reading , read by title. Dave Dorgan Community
Q Development Director reported that we are putting in an application
to the state . Alderman Sarff asked Dave that in the event no buyer
comes to terms with I . H . C . what happens to the $400 ,000 . 00 and how
]long do we . have to use it? Dave commented that he would assume that
if I .;H . C . doesn ' t have a buyer in 2 weeks we would probably lose it .
Motion by Alderman Sarff, second by Alderman May the resolution be
adopted . Roll call . AYES : Aldermen Horr , May , Carl , !Alorkman ,
Sarff, Hammond , Kovachevich . NAYS: None . Motion carried .. 7 .ayes
0 nays 1 absent . Resolution being # 997.x .
RESOLUTION - COMMITTING THE CITY OF CANTON IN THE ISSUANCE OF
INDUSTRIAL REVENUE BONDS FOR THE PURCHASER OF THE INTERNATIONAL
HARVESTER COMPANY ' S CANTON , ILLINOIS , PLANT . First reading read
by title . Jim Malmgren City Attorney brought attention to parag-
raph 4 . . . your conditionaly binding yourself to use your power
to issue Industrial Revenue Bonds pursuant to the Illinois " Ind-
ustrial Project Revenue Bond Act ' to assist any qualified purchaser
of the I . H . C . plant . Any purchaser , in order to receive such assist-
ance must qualify to receive such assistance under applicable law.
This is not a blank check . Any buyer would still have to supply
the city with a letter of intent . The liability would be the same
as the Kroger Bonding .
Motion by Alderman Kovachevich , second by Alderman May the resolu-
tion be adopted . Roll call . AYES : Aldermen Kovachevich , Hammond ,
Sarff , Workman , Carl , May , Horr. NAYS : None . Motion carried .
7 ayes 0 nays 1 absent . Resolution being #998 .
ADJOURMENT : Motion by Alderman Carl , second by Alderman Hammond to
adjourn . Voice vote motion carried , Council adjourned at 6 : 12 p .m.
CITI CLERK
APPROVED. IJL
MAYOR