HomeMy WebLinkAboutResolution #1106RESOLUTION NO. 1106
A RESOLUTION APPROVING AN AGREEMENT BETWEEN THE CITY OF CANTON AND
HAZEL WHEELER, INDIVIDUALLY AND AS EXECUTOR OF THE ESTATE OF 5TUART
WHEELER, DECEASED AND DIRECTING THE MAYOR AND CITY CLERK TO EXECUTE
AND DELIVER SAID AGREEMENT.
WHEREAS, the Canton City Council has determined that it is
necessary and in the best interest of the City of Canton to enter
into an agreement with Hazel Wheeler, individually and as Executor of
the Estate of Stuart Wheeler, Deceased hereto attached and herein
incorporated as Exhibit "A".
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF CANTON, Fulton County, Illinois, as follows:
1. That the agreement hereto attached as Exhibit "A" between the
City of Canton and Hazel Wheeler, individually and as Executor of
the Estate of Stuart Wheeler, Deceased is hereby approved.
2. That the Mayor and City Clerk are hereby authorized and
directed to execute and deliver said agreement on behalf of the City
of Canton.
3. That this Resolution shall be in full force and effect immed-
iately upon its passage by the City Council of the City of Canton,
Fulton County, Illinois, and approved by the Mayor thereof.
PASSED by the City Council of the City of Canton, Fulton County,
Illinois at a regular meeting this 20th day of August ~
1985 upon a roll call vote as follows:
AYES: Aldermen Chapman, May, Workman, Sarff, Falcone, Zilly,
Kovachevich.
NAYS: None.
ABSENT: Alderman Bohler.
APPROVED:
;~ ~s~.s~,~l
Donald E. Edwards, Mayor
ATTEST:
Na Whi es, City Clerk
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sal.. bonds shall ba b,ro~~}-:_ curr~-~t by the ~~i~'i a:-;d, _.. _.:e e~.._..~
said funds on hand from all such ad valorem tax sources shall be
insufficient to bring said bonds current, CITY shall ~.~ay to Y.AZEL
any arrearage in a reasonable timely manner.
4. HAZEL shall cooperate with CITY in the presecution of
the causes of action assigned hereunder provided that CITY shall
reimburse HAZEL for the reasonable expenses incurred by virtue
thereof.
5. CI1~Y shall contin~_~e to extend levies necessary to ~:ay
said Special Service Area 3 bonds over the time
t}-1e bond and said levies shall be extended in a
order teat Hazel be paid according to the ter;r;s
of said bonds over t,,e period of time called fo
ad valorem tuxes so collected, and not fi-om any
fund or source.
6. In the event that Special Service Area
called for by
t-melt' manner in
a;,d conditions
r tI;erein from the
other munici :gal
3, which is the
sub~~ct r~,:~tte.r of Count I of the CITY's declaratory judgm~_nt
action, should ever be declared an invalid Special Service Area,
or, in the event an appeal sha_11 be taken from any adverse
drter.,~,.Ir;ation cc;;~.~_rnir,g the validity of the bonds issued pt~rsn,:nt
to the establishr~~ent of Special Service Area 3, then and in that
event, CITY shall hove the right to re~uest from HAZEL that she
re-purchase the c~uuscs of ~ct~on ~_~:=._~~,;ed her~_under for the cash
amount paid in r aracraph 2 r~~.r eof and HAZEL shall repurchase such
causes of action. In the evf_nt of said repurchase by HAZEL, HAZEL
shall have the full fr~~~~~~o,ri and authority to prosecute all causes
of action to the same extent and with the same authority as
though disagree;7ent was nc.~ver entered i nto.
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piled in sdic declaratory jug::rent action by :?=Z~;L, s'r;all rJG be
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