Resolution 1996-27 Q
RESOLUTION NO.
A RESOLUTION RELATING TO F. E. WHEATON AND CO. INC.
WHEREAS, The United City of the Village of Yorkville, Illinois
(the "Issuer" ) issued its $4, 000, 000 Variable Rate Demand
Industrial Development Revenue Bonds (F. E. Wheaton and Co. , Inc.
Project) , Series 1996 (the "Bonds") on April 26, 1996; and
WHEREAS, the Issuer received $1, 702, 411 .47 of volume cap
allocation from the State of Illinois which was applied to the
Bonds; and
WHEREAS, the Issuer received $2, 714, 900 of volume cap
allocation from the City of Wheaton and the Issuer applied
$2, 297, 588 . 53 thereof to the Bonds; and
WHEREAS, the amount of $417, 311 .47 of the City of Wheaton' s
volume cap allocation was not used in regard to the Bonds; and
WHEREAS, the Issuer hereby rejects the amount of $417, 311 .47
of the City of Wheaton' s volume cap allocation and returns the same
to the City of Wheaton.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
UNITED CITY OF THE VILLAGE OF YORKVILLE, KENDALL COUNTY, ILLINOIS,
AS FOLLOWS:
Section 1 . That the Issuer hereby rejects the amount of
$417, 311 .47 of the City of Wheaton' s 1996 volume cap allocation and
returns the same to the City of Wheaton.
Section 2 . That this Resolution should be in full force and
effect upon its passage and approval .
PASSED this ay of 1996 .
AYES : 7
NAYS :
ABSENT:
APPROVED this day of V 1996 .
Mayor
ATTEST:
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