HomeMy WebLinkAboutResolution #3897RESOLUTION NO. 3 8 9 7
A RESOLUTION EXPRESSING OFFICIAL INTENT REGARDING CERTAIN
CAPITAL EXPENDITURES TO BE REIMBURSED FROM PROCEEDS OF AN
OBLIGATION.
WHEREAS, the City of Canton, Fulton County, Illiknois (the "City") has developed a list of
capital projects (the "Projects") described in Exhibit A hereto; and
WHEREAS, all or a portion of the expenditures relating to such projects (the "Expenditures")
(i) have been paid within the sixty days prior to the passage of this Resolution or (ii) will be paid
on or after the passage of this Resolution; and
WHEREAS, the City reasonably expects to reimburse itself or pay for the Expenditures with the
proceeds of one or obligations;
NOW, THEREFORE, be it and it is hereby resolved by the City Council of the City of Canton
as follows:
Section 1. The City reasonably expects to reimburse or pay the Expenditures with
proceeds of one or more obligations.
Section 2. The maximum principal amount of the obligations expected to be issued for
the Projects is $7,000,000.00
Section 3. The City may retain any of the following consultants with respect to certain
TIF projects and bond issues secured by revenues of said TIF: Ice Miller LLP, or
Chapman & Cutler LLP as bond counsel; Ruan Securities, a Division of D.A. Davidson,
as underwriter; Thomas N. Jacob & Associates, Ltd., Attorneys at Law as TIF attorneys;
and The Economic Development Group, Ltd. as TIF Consultant.
Section 4. All actions of the officers, agents and employees of the City that are in
conformity with the purposes and intent of this Resolution, whether taken before of after
the adoption hereof are hereby ratified, confirmed and adopted.
Section 5. This Resolution shall be in full force and effect immediately upon its
adoption.
AYES: Roll call was not taken.
NAYS:
ABSENT: None .
Adopted June 23, 2009
Attest: / 6 ~ ~~
Nancy Whit ,City Clerk
The vote was by voice vote, and
was unanimous.
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Kevin R. Meade, Mayor
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