Resolution 2003-14 1
RESOLUTION NO. 2003 - �A _
RESOLUTION DECLARING OFFICIAL INTENT
OF THE UNITED CITY OF YORKVILLE
KENDALL COUNTY, ILLINOIS
Ssfl a003-Xoo
WHEREAS, the United City of Yorkville, Kendall County, Illinois (the "City")
wishes to design, acquire, construct and install special services within the City's Special Service
Area Number 2003-100 (The Highlands) (the "Special Service Area") and the City wishes to
issue its special tax bonds to finance said special services; and
WHEREAS, the City hereby finds and determines that the financing of the special
services described below by the City will serve the public purposes of the Special Service Area.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the United City
of Yorkville, Kendall County, Illinois as follows:
1. The City intends to issue obligations (the "Bonds") for the purpose of
financing the design, acquisition, construction and installation of special services consisting of
engineering, soil testing and appurtenant work, mass grading and demolition, storm water
management facilities, storm drainage systems and storm sewers, site clearing and tree removal,
public water facilities, sanitary sewer facilities, erosion control measures, roads, streets, curbs,
gutters, street lighting, traffic controls, sidewalks, equestrian paths and related street
improvements, and equipment and materials necessary for the maintenance thereof, landscaping,
wetland mitigation and tree installation, costs for land and easement acquisitions relating to any
of the foregoing improvements, required tap-on and related fees for water or sanitary sewer
services and other eligible costs (the "Highlands Project"). The total amount which the City
intends to borrow through the issuance of the Bonds for the Project will not exceed $28,000,000.
The Bonds if issued shall constitute limited obligations of the City, payable from a special tax to
be levied on all taxable real property within the Special Service Area. The Bonds shall not
constitute the general obligations of the city and neither the full faith and credit nor the unlimited
taxing power of the City shall be pledged as security for payment of the Bonds.
2. Certain costs will be incurred by the City in connection with the Project
prior to the issuance of the Bonds. The City reasonably expects to reimburse such costs with
proceeds of the Bonds.
3. This Resolution constitutes a declaration of official intent under Treasury
Regulation Section 1.150-2.
4. This Resolution shall be in full force and effect from and after its passage,
approval and publication in pamphlet form, as provided by law.
PAUL JAMES MARTY MUNNS
RICHARD STICKA MIKE ANDERSON „ _
VALERIE BURD ROSE SPEARS _
LARRY KOT JOSEPH BESCO
PASSED AND APPROVED this day o , 2003.
Mayor
ATTEST:
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[SEAL]
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