Ordinance 2003-61 ORDINANCE NO. &_00`6•b
ORDINANCE PLEDGING CERTAIN REVENUES TO OR ON BEHALF OF
THE ILLINOIS RURAL BOND BANK TO PAY CERTAIN LOCAL
GOVERNMENT SECURITIES.
WHEREAS, the United City of Yorkville, Kendall County, Illinois, a governmental unit
duly organized and validly existing under the Constitution and the laws of the State of Illinois
(the "Unit"), is issuing its bonds, notes or other evidences of indebtedness in the aggregate
principal amount of $2,035,000 and designated Debt Certificates, Series 2003A (the
"Securities") for lawful public purposes under any provision of the Constitution or the laws of
the State of Illinois, all pursuant to an ordinance duly adopted by the City Council of the Unit
(the "Governing Body") on August 26, 2003, as from time to time supplemented and amended;
and
WHEREAS the Unit intends to sell the Securities to the Illinois Rural Bond Bank, a p ublic
body corporate and politic and an instrumentality of the State of Illinois duly organized and
validly existing under the laws of the State of Illinois (the "Issuer"), in connection with its Rural
Bond Bank Program (the "Program"), pursuant to 30 Illinois Compiled Statutes 2002, 36011-1
et seq., as supplemented and amended (the "Act"); and
WHEREAS, the Unit is currently entitled to receive certain funds in certain amounts from
the Department of Revenue, the Department of Transportation, the State Treasurer or the State
Comptroller of the State of Illinois (the "State Distributor"), pursuant to Sections 8-11-1, 8-11-5
or 8-11-6 of the "Illinois Municipal Code," Section 2 or Section 12 of "An Act in relation to
State revenue sharing with local governmental entities," Section 6z-17 or Section 6z-18 of "An
Act in relation to State Finance" or such other authority as shall be applicable and any successor
statute to any of the above, which funds may from time to time be in the custody of the State
Distributor and which funds may be available in different amounts or which funds may hereafter
from time to time be unavailable (the "Intercept Revenues"); and
1 WHEREAS, pursuant to the Act, the Unit has the power and authority to pledge the
Intercept Revenues to the Issuer or any entity acting on behalf of the Issuer, including without
limitation U.S. Bank, National Association, as Trustee (the "Trustee"), to the extent that such
Intercept Revenues are necessary to provide revenues to pay the principal of, premium, if any,
and interest on, and other fees related to, the Securities, and to direct the Comptroller of the State
of Illinois to cause orders to be drawn and to direct the Treasurer of the State of Illinois to make
payment thereof in accordance with the terms and provisions of this Ordinance;
Now, THEREFORE, Be It Ordained by the City Council of the United City of Yorkville,
Kendall County, Illinois, as follows:
Section 1. The Unit hereby pledges the Intercept Revenues to the Trustee on behalf of
the Issuer to provide revenues to secure the payment of the principal of, premium, if any, and
interest on, and other fees related to, the Securities, and this Ordinance shall constitute a
direction to the Comptroller of the State of Illinois and the Treasurer of the State of Illinois to
1539816.01.10
2110781/KK/8/21/03
pay to, or on behalf of, the Trustee on behalf of the Issuer from the State Distributor any
available Intercept Revenues which are due or payable to the Unit in an amount sufficient to pay
the principal of, premium, if any, and interest on, and other fees related to, the Securities which
are due and unpaid and in default, and this Ordinance shall constitute a further direction to the
State Comptroller to cause orders to be drawn and to the State Treasurer to make payment
thereof, as set forth in Exhibit A attached to and made a part of this Ordinance.
Section 2. The Unit hereby covenants and agrees that it has not pledged, encumbered
or otherwise granted a lien, security interest or charge on the Intercept Revenues prior to the
pledge granted by this Ordinance, and will not, without the prior written consent of the Issuer,
pledge, encumber or otherwise grant a lien, security interest or charge on the Intercept Revenues
prior to or on a parity with the pledge granted by this Ordinance.
Section 3. The Unit hereby covenants and agrees that, to the extent permitted by law, it
will not reduce the current rate of any tax which provides a source of Intercept Revenues or grant
exemptions from such tax (other than current exemptions), without the prior written consent of
the Issuer(unless the Unit is required to reduce such rates or grant such exemptions by law).
Section 4 The P rovisions of this Ordinance shall constitute a contract between the
Unit and the Issuer, and after the issuance of the Securities, no modification, alteration,
amendment, supplement, repeal or revocation of the provisions of this Ordinance shall be made
in any manner, except with the prior written consent of the Issuer, until such time as the principal
of, premium, if any, and interest on the Securities shall have been paid in full.
Section 5. The Unit hereby acknowledges that the Issuer has the right to assign and
pledge its right, title and interest in and to this Ordinance to the Trustee, and will assign and
pledge its right, title and interest in and to this Ordinance to the Trustee.
Section 6. The Mayor of the Unit and the City Clerk of the Unit are hereby authorized
to file this Ordinance with the State Treasurer, the State Comptroller and the Department of
Revenue, the Department of Transportation or the State Superintendent of Education, as the case
may be, pursuant to Section 3-25 of the Act. The Mayor of the Unit, the City Clerk of the Unit,
and all other officers, employees and agents of the Unit are hereby further authorized,
empowered and directed to execute and deliver any and all such documents and to do any and all
such things as may be necessary to carry out and comply with and further the purposes and intent
of this Ordinance, including the preambles to this Ordinance.
Section 7. The provisions of this Ordinance are hereby declared to be separable, and if
any section, phrase or provision hereof shall, for any reason, be declared to be invalid, such
declaration shall not affect the validity of the remainder of the sections, phrases or provisions of
this Ordinance.
Section 8. All ordinances, resolutions and orders, or parts thereof, in conflict with the
provisions hereof are, to the extent of such conflict, hereby superseded.
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Section 9. This Ordinance shall be in force and effect upon its passage and approval,
as provided by law.
ADOPTED by the Governing Body on the 26th day of August, 2003, pursuant to a roll call
vote as follows:
PAUL JAMES MARTY MUNNS
RICHARD STICKA WANDA OHARE
VALERIE BURD ROSE SPEARS
LARRY KOT JOSEPH BESCO
APPROVED by me, as Mayor of the United City f Yorkville, Kendall County, Illinois the
Y Y
26th day of August, 2003.
MAYOR
PASSED by the Governing Body of the United City of Yorkville, Kendall County, Illinois,
the 26th day of August 2003.
Att
CITY&ERK
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ExxiBIT A
Treasurer of the State of Illinois
Room 219
State House
Springfield, Illinois 62706
Comptroller of the State of Illinois
Room 201
State House
Springfield, Illinois 62706
Ladies and Gentlemen:
The undersigned is hereby y making demand upon you for the payment of certain available
funds which are or may hereafter be in the custody of the Treasurer, the Comptroller, the
Department of Revenue or the Department of Transportation of the State of Illinois, as the case
may be, and which are due and payable to the United City of Yorkville, Kendall County, Illinois
(the "Unit"), pursuant to the provisions of the Rural Bond Bank Act (30 ILCS 360/1-1 et seq., as
supplemented and amended, the "Act"), Section 13 of the Local Government Debt Reform Act
and an Ordinance duly adopted by the City Council of the Unit, attached hereto as Exhibit I (the
"Intercept Proceedings"). In connection with such demand, the undersigned hereby certifies as
follows:
1. That the undersigned is authorized to make this demand.
2. That the Illinois Rural Bond Bank, a public body corporate and politic and an
instrumentality of the State of Illinois duly organized and validly existing under the laws of the
State of Illinois (the "Issuer"), or its nominee, , as
Trustee (the "Trustee"), is the owner of the Debt Certificates, Series 2003A, of the Unit,
originally issued in the aggregate principal amount of $2,035,000 (the "Securities"), which
Securities were purchased by the Issuer pursuant to its powers and authority under the Act.
3. That the Securities are now outstanding in the aggregate principal amount of
4. That the Unit is entitled to receive certain funds in the custody of the Treasurer, the
Comptroller, the Department of Revenue or the Department of Transportation of the State of
Illinois, as the case may be, to the extent that such funds are from time to time available to the
Unit, pursuant to Sections 8-11-1, 8-11-5 or 8-11-6 of the "Illinois Municipal Code," Section 2
or Section 12 of"An Act in relation to State revenue sharing with local governmental entities,"
or Section 6z-17 or Section 6z-18 of "An Act in relation to State finance" (the "Intercept
Revenues").
5. That the Unit has pledged the Intercept Revenues to the Trustee on behalf of the
Issuer,pursuant to the Intercept Proceedings, to secure the payment of the principal of,premium,
if any, and interest on, and other fees related to, the Securities to the extent that any Intercept
Revenues are available to the Unit.
6. That the Unit is in default in the payment of the principal of, premium, if any,
interest, and/or other fees now due and unpaid on the Securities in the following amounts:
(a) Principal $
(b) Premium $
(c) Interest $
(d) Other Fees $
In accordance with Section 3-25 of the Act, you are hereby requested to do the following:
(i) Withhold the payment of the Intercept Revenues which may be available,
due or payable to the Unit until the amount of such principal of, premium, if any, and/or
interest on, or other fees related to, the Securities so due and unpaid has been paid to the
Trustee on behalf of the Issuer, as certified by the undersigned to you in writing, or you
have been advised by the undersigned in writing that arrangements satisfactory to the
undersigned have been made for such payment.
(ii) Within ten (10) days of the date hereof and from time to time thereafter,
you shall pay over a period of time to the Trustee on behalf of the Issuer such Intercept
Revenues as are legally available for the payment of such principal of, premium, if any,
and/or interest on the Securities so due and unpaid until such principal, premium, if any,
interest and/or other fees are paid, as certified by the undersigned to you in writing,
unless the undersigned otherwise advises you.
Respectfully submitted,
as Trustee
By
Its
cc: [Name of Recording Officer of the Unit]
[Name and Address of the Unit]
[Department of Revenue]
[Department of Transportation]
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EXTRACT of MINUTES of the regular public meeting of the City
Council of the United City of Yorkville, Kendall County, Illinois,
held at the Beecher Community Center, located at 908 Game Farm
Road, in said City, at 7:00 p.m., on the 26th day of August 2003.
The Mayor called the meeting o order and directed the City y Clerk to call the roll.
Upon the roll being called, the Mayor, .o�Idnn and
the following Aldermen answered present at said location:
The following were absent:
The City Council then discussed the proposed financing of sewer improvements.
Thereupon, Alderman� presented, and there was placed before each
Alderman in full the following ordinance:
ORDINANCE PLEDGING CERTAIN REVENUES TO OR ON BEHALF OF
THE ILLINOIS RURAL BOND BANK TO PAY CERTAIN LOCAL
GOVERNMENT SECURITIES.
(the "Pledge Ordinance").
Alderman moved and Alderman seconded the motion that the
Pledge Ordinance as presented be adopted.
A City Council discussion of the matter followed. During the City Council discussion,
City gave a public recital of the nature of the matter,
which included a complete reading of the title of the Pledge Ordinance.
The Mayor directed that the roll be called for a vote upon the motion to adopt the Pledge
Ordinance.
Upon the roll being called, the following Aldermen voted AYE:
an ,
d the following Aldermen voted NAY:
WHEREUPON the Mayor declared the motion carried and the Pledge Ordinance adopted
and did direct the City Clerk to record the same in full in the records of the City Council of the
United City of Yorkville, Kendall County, Illinois.
Other business was duly transacted at said meeting.
Upon motion duly made and carried, the meeting adjourned.
City rk
STATE OF ILLINOIS )
) SS
COUNTY OF KENDALL )
CERTIFICATION OF MINUTES AND ORDINANCE
I, the undersigned, do hereby certify that I am the duly qualified and acting City Clerk of
the United City of Yorkville, Kendall County, Illinois (the "City"), and as such official I am the
keeper of the official journal of proceedings, books, records, minutes, and files of the City and of
the City Council (the "Corporate Authorities") thereof.
I do further certify that the foregoing is a full, true, and complete transcript of that portion
of the minutes of the meeting (the "Meeting") of the Corporate Authorities held on the 26th day
of August, 2003 insofar as the same relates to the adoption of an ordinance, numbered
G>00-t-,b , and entitled:
ORDINANCE PLEDGING CERTAIN REVENUES TO OR ON BEHALF OF
THE ILLINOIS RURAL BOND BANK TO PAY CERTAIN LOCAL
GOVERNMENT SECURITIES.
(the "Ordinance") a true, correct, and complete copy of which Ordinance as adopted at the
Meeting appears in the foregoing transcript of the minutes of the meeting.
I do further certify that the deliberations of the Corporate Authorities on the adoption of
the Ordinance were taken openly; that the vote on the adoption of the Ordinance was taken
openly; that the Meeting was held at a specified time and place convenient to the public; that
notice of the Meeting was duly given to all newspapers, radio or television stations, and other
news media requesting such notice; that an agenda for the Meeting was posted at the location
where the Meeting as held and at the r'
g principal office of the Corporate Authorities at least 48
hours in advance of the holding of the Meeting; that said agenda contained a separate specific
item concerning the adoption of said ordinance; a true, correct and complete copy of said agenda
as so posted being attached to this Certificate as Exhibit A; and that the Meetin g was called and
held in strict compliance with the provisions of the Open Meetings Act of the State of Illinois, as
amended, and the Illinois Municipal Code, as amended, and that the Corporate Authorities have
complied with all of the provisions of said Act and said Code and with all of the procedural rules
of the Corporate Authorities in the adoption of the Ordinance.
IN WITNESS WHEREOF I hereunto affix my official signature and the seal of the City this
26th day of August, 2003.
City lerk
[SEAL]
[Attach Exhibit A]
United City of Yorkville
EST ie County Seat of Kendall County
800 Game Farm Road
.� N Yorkville,Illinois 60560
. AGENDA
O -„ O Phone:630-553-4350
': QZ Fax:630-553-7575 CITY COUNCH.MEETING
BEECHER COMMUNITY BUILDING, AUSTIN ROOM
7:00 PM
Tuesday,August 26, 2003
Call to Order: 7:00 p.m.
Pledge of Allegiance:
Roll Call by Clerk: WARD I WARD II WARD III WARD IV
Rich Sticka Valerie Burd Marty Munns Joe Besco
Paul James Larry Kot Wanda Ohare Rose Ann Spears
Establishment of Quorum:
Introduction of Guests:
Amendments to Agenda:
ommittee Meeting Dates:
Public Works Committee Meeting: Ad-hoc: Technology Committee
7:00 p.m., Monday, September 22, 2003 6:30 p.m., Wednesday, September 2, 2003
City Hall Conference Room City Hall Conference Room
Economic Development Committee:
7:00 p.m.,Monday, September 15, 2003
City Hall Conference Room
Administration Committee Meeting: Ad-hoc: Tourism Committee
6:30 p.m., Thursday, September 11, 2003 6:30 p.m., Wednesday, August 27, 2003
City Hall Conference Room City Hall Conference Room
Public Safety Committee Meeting:
6:30 p.m., Thursday, September 25, 2003
City Hall Conference Room
Presentation to Robert Hill
Public Hearings: None
Citizen Comments:
esentations: 1. NIU Draft IMAP Report
City Council Meeting Agenda
August 26, 2003
Page 2
Consent Agenda:
1. Snowbird Policy
2. YBSD Intergovernmental Agreement-authorize Mayor and City Clerk to execute
3. Recording Secretaries/Minutetakers-increase meeting and transcription pay
4. Office Furniture Results of Bid Opening-award contract to Rakow's Furnishings for Home&Office in an
amount not to exceed$55,163.11
5. Grande Reserve SSA-Resolution of Intent -authorize Mayor and City Clerk to execute in a total amount to
be borrowed through the issuance of the Bonds for the Project not to exceed$60,000,000
Plan Commission/Zoning Board of Appeals:
Minutes for Approval (Corrections and Additions):
Minutes of City Council— None
Minutes of Committee of the Whole— February 4, 2003 and Public Hearing March 4, 2003
' _ill payments for approval from the current Bill List Corrections and Additions):
s).
Checks total these amounts:
$1,043,338.15 (vendor)
' $ 125,018.86 (payroll period ending 8/13/03)
$1,168,357.01 (total)
iReports:
' Mayor's Report:
1. Proclamation for National Library Card Sign-up Month
Attorney's Report:
City Clerk's Report:
Ci y Treasurer's Report:
■
City Council Meeting Agenda
August 26, 2003
Reports(con't): Page 3
City Administrator's Report:
Finance Director's Report:
' Director of Public Works Report:
Chief of Police Report,:
Executive Director of Parks&Recreation Report:
Community&Liaison Report:
Committee Reports:
Public Works Committee Report:
1. Ordinance Approving Sale of Municipal Property Y-Little Rock Township
^onomic Develonment Committee Report:
1. Ordinance Granting Special Use for 9818 Route 71 (Greene)
Public Safety Committee Report:
' 1. No Report.
Administration Committee Report:
1. Request to Hire Engineering Assistant
2. Radium Complia.nce(Water Project Alternate Revenue Bond
3. Bruell Street Pump Station Bond Bank Ordinance
Additional Business:
Adjournment:
i
City Council Meeting Agenda
August 26, 2003
Page 4
COMMITTEES, MEMBERS AND RESPONSIBILITIES FIY 2003 —2004
UBLIC WORKS
Committee Departments Liaisons
Chairman: Alderman Besco Water and Sewer Park Board
Vice-Chair: Alderman Munns Streets and Alleys YBSD
Committee: Alderman Sticka Sanitation and Waste
Committee: Alderman Kot
CONOMIC DEVELOPMEN
Committee Departments Liaisons
Chairman: Alderman Sticka Planning&Building&Zoning Chamber of Commerce
Vice Chair: Alderwoman Burd Business&Economic Dev. Kendall County Econ. Dev.
Committee: Alderwoman Ohare Plan Commission
Committee: Alderman Besco Bristol Plan Commission
Yorkville Econ. Dev. Corp.
Aurora Area Convention&
Tourism Council
Downtown Re-development
�LIC SAFET
Committee Departments Liaisons
Chairman: Alderman Kot Police Human Resource Comm.
Vice Chair: Alderwoman Ohare Schools School District
Committee: Alderwoman Spears Public Relations KenCom
Committee: Alderman James
ADMINISTRATIO_
Committee Departments Liaisons
Chairman: Alderwoman Spears Finance Metra
Vice Chair: Alderman James Public Properties Library
Committee: Alderwoman Burd Personnel Cable Consortium
Committee: Alderman Munns
I�R-HOC: TECHNOLOG-11
Committee
Chairman: Alderman Munns
Vice Chair: Alderman Kot
Committee: Alderman Sticka
mmittee: Alderwoman Ohare
i
City Council Meeting Agenda
August 26, 2003
Page 5
COMMITTEES, MEMBERS AND RESPONSIBILITIES F/Y 2003 —2004 (con't)
H 1C.,
TOiTRIS
Committee
Chairman: Alderwoman Burd
Vice Chair: Alderwoman Spears
Committee: Alderman James
Committee: Alderman Besco
INSTALLMENT PURCHASE AGREEMENT for the purchase of real or
personal property, or both, for the purpose of sewer improvements
within the City, dated the 1st day of September, 2003, in and for
the United City of Yorkville, Kendall County, Illinois.
THIS INSTALLMENT PURCHASE AGREEMENT (this "Agreement") made as of the 1 st day of
September, 2003 by and between the Treasurer of the City, as Nominee-Seller (the "Seller")
and the United City of Yorkville, Kendall, Illinois, a municipality and unit of local government
of the State of Illinois (the "City"):
' WITNESSETH
A. The City Council (the "Corporate Authorities") of the City has determined to
acquire real or personal property, or both, for sewer improvements within the City (the
"Project"), all as previously approved by the Corporate Authorities and on file with the City
Clerk (the "Clerk").
B. Pursuant to the provisions of the Illinois Municipal Code (the "Municipal Code");
the Local Government Debt Reform Act of the State of Illinois (the "Debt Reform Act"), and, in
particular, the provisions of Section 17 of the Debt Reform Act the "Installment ent Purchase
Provisions of the Debt Reform Act"); and all other Omnibus Bond Acts of the State of Illinois; in
each case, as supplemented and amended (collectively "Applicable Law"); the City has the
power to purchase real or personal property through agreements that provide that the
consideration for the purchase may be paid through installments made at stated intervals for a
period of no more than 20 years and has the power to issue certificates evidencing indebtedness
incurred under such agreements.
C. On the 26th day of August, 2003, the Corporate Authorities, pursuant to Applicable
Law and the need to provide for the Project, adopted an ordinance (the "Ordinance"), numbered
2003-62 , authorizing the borrowing of money for the Project, the execution and delivery of
I-1
this Agreement to finance same, and the issuance of certificates evidencing the indebtedness so
incurred.
D. The Ordinance is
1 (a) incorporated herein by reference; and
(b) made a part hereof as if set out at this place in full;
and each of the terms as defined in the Ordinance is also incorporated by reference for use in this
' Agreement.
E. The Seller, as nominee as expressly permitted by the Installment Purchase
Provisions of the Debt Reform Act, has agreed to acquire the Project on the terms as hereinafter
' provided.
Now, THEREFORE, in consideration of the mutual covenants and agreements hereinafter
contained and other valuable consideration, it is mutually agreed between the Seller and the City
as follows:
1. MAKE AND ACQUIRE PROJECT
The Seller agrees to make, construct and acquire the Project upon real estate owned or to
' be owned by or upon which valid easements have been obtained in favor of the City.
2. CONVEYANCE
The Seller agrees to convey each part of the Project to the City and to perform all
' necessary work and convey all necessary equipment; and the City agrees to purchase the Project
from the Seller and pay for the Project the purchase price of not to exceed $2,035,000; plus the
amount of investment earnings which are earned on the amount deposited with the Treasurer
from the sale of the Certificates and in no event shall the total aggregate principal purchase price
to be paid pursuant to this Agreement exceed the sum of $2,035,000, plus the amount of
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investment earnings which are earned on the amount deposited eposited with the Treasurer from the sale
of the Certificates.
' 3. PAYMENTS
The payment of the entire sum of$2,035,000 of said purchase price shall:
(a) be payable in installments due on the dates and in the amounts;
(b) bear interest at the rates percent per annum which interest shall also be
payable on the dates and in the amounts;
(c) be payable at the place or places of payment, in the medium of payment, and
upon such other terms;
all as provided for payment of the Certificates in the Ordinance.
4. ASSIGNMENT
Rights to payment of the Seller as provided in this Agreement are assigned as a matter of
tlaw, under the Installment Purchase Provisions of the Debt Reform Act, to the owners of the
' Certificates. This Agreement and any right, title, or interest herein, shall not be further
assignable. The Certificates, evidencing the indebtedness incurred hereby, are assignable
' (registrable) as provided in the Ordinance.
5. TAX COVENANTS
The covenants relating to the Tax-exempt status of the Certificates, as set forth in the
' Ordinance, insofar as may be applicable, apply to the work to be performed and the payments
made under this Agreement.
6. TITLE.
' (a) Vesting of Title. Title in and to any part of the Project, upon delivery or as made,
during all stages of the making or acquisition thereof, shall and does vest immediately in the
City.
I-3
(b) Damage, Destruction, and Condemnation. If, during the term of this Agreement,
g ,
(i) all or any part of the Project shall be destroyed, in whole or in part, or damaged by fire or
other casualty or event; or(ii) title to, or the temporary or permanent use of, all or any part of the
Project shall be taken under the exercise of the power of eminent domain by any governmental
' body or by any person, firm, or corporation acting under governmental authority; or (iii) a
material defect in construction of all or any part of the Project shall become apparent; or (iv) title
to or the use of all or any part of the Project shall be lost by reason of a defect in title; then the
City shall continue to make payments as promised herein and in the Certificates and to take such
action as it shall deem necessary or appropriate to repair and replace the Project.
7. LAWFUL CORPORATE OBLIGATION
The City hereby represents, warrants and agrees that the obligation to make the payments
' due hereunder shall be a lawful direct general obligation of the City payable from the corporate
funds of the City and such other sources of payment as are otherwise lawfully available. The
City represents and warrants that the total amount due the Seller hereunder, together with all
other indebtedness of the City, is within all statutory and constitutional debt limitations. The
City agrees to appropriate funds of the City annually and in a timely manner so as to provide for
' the making of all payments when due under the terms of this Agreement.
S. GENERAL COVENANT AND RECITAL
It is hereby certified and recited by the Seller and the City, respectively, that as to each,
' respectively, for itself, all conditions, acts, and things required by law to exist or to be done
precedent to and in the execution of this Agreement did exist, have happened, been done and
performed in regular and due form and time as required by law.
' 9. 110 SEPARATE TAX
THE SELLER AND THE CITY RECOGNIZE THAT THERE IS NO STATUTORY AUTHORITY
FOR THE LEVY OF A SEPARATE TAX IN ADDITION TO OTHER TAXES OF THE CITY OR THE LEVY
1-4
r
OF A SPECIAL TAX UNLIMITED AS TO RATE OR AMOUNT TO PAY ANY OF THE
AMOUNTS DUE
' HEREUNDER.
10. DEFAULT
In the event of a default in payment hereunder by the City, the Seller or any
' Certificateholder may pursue any available remedy by suit at law or equity to enforce the
payment of all amounts due or to become due under this Agreement, including, without
rlimitation, an action for specific performance.
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1
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IN WITNESS WHEREOF, the Seller has caused this Installment Purchase Agreement to be
executed and attested, and his or her signature to be attested by the Clerk, and the City has
caused this Installment Purchase Agreement to be executed by its Mayor, and also attested by the
Clerk, and the official seal of the City to be hereunto affixed, all as of the day and year first
' above written.
SELLER: Signature: A.
[Here type name]: am PL)w e'
' as Nominee-Seller and the Treasurer
ATTEST:
City rk
[SEAL]
UNITED CITY OF YORKVILLE KENDALL
COUNTY, ILLINOIS
1
Mayor
ATTEST:
V �
' City Cl k
[SEAL]
I-6
STATE OF ILLINOIS )
SS
COUNTY OF KENDALL )
CERTIFICATE OF INSTALLMENT PURCHASE AGREEMENT FILING
I, the undersigned, do hereby certify that I am the duly qualified and acting City Clerk of
' the United City of Yorkville, Kendall County, Illinois (the "City"), and as such officer I do
' hereby certify that on the a6 day of , 2003 there was filed in my office a
properly certified copy of that certain document, executed by the Mayor of the City, attested by
me in my capacity as City Clerk, and further executed, as Nominee-Seller, by the City Treasurer
of the City, also attested by me, dated the 1st day of September 2003, and entitled
"INSTALLMENT PURCHASE AGREEMENT for the urcha
p se of real or personal property, or both, for
' the purpose of sewer improvements within the City, dated the 1st day of September, 2003, in and
for the United City of Yorkville, Kendall County, Illinois"; and supporting the issuance of
certain Debt Certificates, Series 2003A, of the City; that attached hereto is a true and complete
copy of said Agreement as so filed; and that the same has been deposited in the official files and
records of my office.
' IN WITNESS WHEREOF, I have hereunto affixed my official signature and the seal of the
United City of Yorkville, Kendall County, Illinois, at the United City of Yorkville, Illinois, this
lay of , 2003.
City rk
[SEAL]
F-1
1
LOCAL GOVERNMENTAL SECURITIES PURCHASE AGREEMENT
August 26, 2003
City of Yorkville
800 Game Farm Road
Yorkville, Illinois 60560
Ladies and Gentlemen:
This Local Governmental Securities Purchase Agreement (the "Agreement") is being
entered into by the Illinois Rural Bond Bank, a public body corporate and politic and an
instrumentality of the State of Illinois duly organized and validly existing under the laws of the
State of Illinois (the "Issuer"), and the City of Yorkville, a governmental unit duly organized and
validly existing under the Constitution and the laws of the State of Illinois (the "Unit"), in
connection with the rural bond bank program of the Issuer(the "Program"),pursuant to 30
Illinois Compiled Statutes 1998, 36011-1 et seq., as supplemented and amended(the "Act").
Under the Program, the Issuer intends to issue its revenue bonds (the "Issuer Bonds"), and to use
the proceeds of the Issuer Bonds to purchase "local governmental securities," as defined in the
Act, including without limitation the Securities referred to in Section 1 hereof, from
"governmental units," as defined in the Act, including without limitation the Unit. The Issuer
Bonds will be issued pursuant to a Trust Indenture dated as of December 1, 1990, from the Issuer
to The First National Bank of Springfield(succeeded in trust by U.S. Bank,National
Association) as Trustee (the "Trustee"), as from time to time supplemented and amended and as
supplemented and amended by the Twenty-Ninth Supplemental_Trust Indenture dated as of
September 1, 2003, from the Issuer to the Trustee (the "Indenture").
Section 1. Purchase and Sale of the Securities. In reliance upon the representations,
warranties and agreements herein contained,but subject to the terms and conditions herein set
forth, the Issuer agrees to purchase from the Unit, and the Unit agrees to sell to the Issuer, at a
purchase price equal to 98.4% of the principal amount thereof,plus accrued interest, if any,
$2,035,000 aggregate principal amount of Debt Certificates Series 2003 (the "Securities"), in
substantially the same form as Exhibit A attached hereto and made apart hereof, subject to
appropriate insertions and omissions, and maturing in the amounts on the dates, as set forth in
Exhibit B attached to and made a part of this Agreement, and bearing interest at a rate not to
exceed eight and three fourths percent(8 3/4%)per annum for each maturity,payable on
' February 1, 2004, and on each February 1 and August 1 thereafter.
j
Section 2. Representations, Warranties and Covenants of the Unit. The Unit represents,
warrants, and covenants that:
(a) The Unit is (i) a county, other than a county having a population in excess of
3,000,000 (a"Rural County"), (ii) a city,village, incorporated town or township having a
population less than 25,000, and is not a city, village or incorporated town which is a
home-rule unit of government in a county contiguous with a county having a population
in excess of 3,000,000, (iii) a school district, community college district or a special
district located in a Rural County, or(iv) a municipal corporation,public corporation, any
other local governmental body or any other local public entity as defined in the Local
Governmental and Governmental Employees Tort Immunity Act.
(b) The Unit is a Rural County or located entirely within one or more Rural
I Counties, or has a majority of the territory within its corporate boundaries and has ninety
percent(90%) of its population located within one or more Rural Counties.
(c) The Securities will constitute bonds, notes or other evidences of indebtedness
issued for lawful public purposes under any provision of the Constitution or the laws of
the State of Illinois. The Securities will be payable from the source or sources therein
' described. -
(d) The Securities will be issued pursuant to and in accordance with the Local
Government Debt Reform Act of the State of Illinois as amended, 30 ILCS, 35011-1 et
seq. (the "Enabling Legislation"), and the provisions of an ordinance duly adopted by the
governing body of the Unit on August 26, 2003 (the "Authorizing Proceedings"), and
when delivered to and paid for by the Issuer will have been duly authorized, executed,
issued and delivered, and will constitute legal, valid and binding obligations of the Unit,
enforceable in accordance with their terms. The Unit has adopted, or will prior to the
issuance of the Securities adopt, all necessary resolutions and ordinances, and has taken,
or will prior to the issuance of the Securities take, all necessary actions required by law to
enable it to enter into this Agreement and to issue the Securities.
i (e) The governing body of the Unit will, prior to the delivery of the Securities,
duly adopt an ordinance,pledging to the Trustee on behalf of the Issuer certain funds to
be received from the Department of Revenue, the Department of Transportation or the
State Superintendent of Education or in the custody of the Treasurer, the Comptroller, the
Department of Revenue,the Department of Transportation or the State Superintendent of
Education of the State of Illinois, as the case may be, as permitted by Section 3-25 of the
' Act and Section 13 of the Local Government Debt Reform Act, for the purpose of
securing the payment of the principal of, premium, if any, and interest on the Securities;
' and said ordinance(the "Intercept Proceedings")will be delivered to the Issuer or its
designee on the Closing Date.
2
(f) The adoption of the Authorizing Proceedings and the Intercept Proceedings
(collectively, the "Proceedings"), the execution and delivery of this Agreement and the
issuance, sale and delivery of the Securities, and compliance with the provisions hereof
and thereof, do not and will not conflict with or result in a violation of the Constitution or
other laws of the State of Illinois, or the ordinances or the resolutions of the Unit,
including any restrictions or conditions on the debt-issuing power of the Unit, and do not
and will not conflict with or result in a violation of, or a breach of, or constitute a default
under, any law or administrative regulation or any of the terms, conditions or provisions
of any judgment, decree, loan agreement, note, ordinance,resolution, indenture,
mortgage, deed of trust or other agreement or instrument to which the Unit is a parry or
by which it or any of its property is bound.
(g) Any certificate signed by the chief executive officer or the recording officer of
the Unit and delivered to the Issuer in connection with the issuance, sale and delivery of
the Securities shall be deemed a representation and warranty by the Unit to the Issuer as
to the truth of those statements made by the Unit therein.
Section 3. Delivery of the Securities. Payment of the purchase price for the Securities as
set forth in Section 1 hereof shall be made in immediately available funds drawn to the order of
�j the Unit at 10:00 a.m., Chicago time, within forty-five(45) days of the date hereof, upon ten(10)
business days'notice from the Issuer, at the offices of Chapman and Cutler LLP, or at such other
time or place as the Issuer and the Unit determine, such time of payment and delivery being
herein referred to as the "Closing Date." Such payment of the purchase price on the Closing
Date shall be against delivery to the Issuer or its designee of the Securities duly executed and
delivery to the Issuer of other instruments, documents, certificates, proceedings and opinions
customarily delivered to purchasers of obligations similar to the Securities, including without
limitation an unqualified approving opinion of bond counsel in connection with the issuance of
the Securities, a certification and guaranty as to signatures and a certification as to the absence of
litigation, all in form and substance satisfactory to the Issuer and Bond Counsel in connection
with the issuance of the Issuet Bonds. THE ISSUER SHALL BE UNDER NO OBLIGATION
TO PURCHASE THE SECURITIES IF THE ISSUER BONDS ARE NOT SOLD, ISSUED
AND DELIVERED TO THE PURCHASERS THEREOF. The Securities so to be delivered will
be fully registered Securities registered in the name of the Issuer or its nominee, in typewritten
form, and in denominations of$5,000 or any integral multiple thereof as the Issuer may request
not later than seven business (7) days prior to the Closing Date. Should the Issuer fail to make
such request, the Securities shall be delivered in such denomination so as to provide one
typewritten Security per maturity of the Securities,registered in the name of the Issuer or its
nominee. The Securities will be made available for inspection and checking by the Issuer or its
designee at the place where delivery is to be made, or at such other place as the Issuer and the
Unit may determine,by 12:00 noon on the fifth business day preceding the Closing Date.
3
i
Section 4. Covenants of the Unit. The Unit hereby covenants and agrees that:
(a) Upon each payment of the principal of and interest on the Securities, the Unit
will advise the Issuer in writing that such payment has been made, and will also advise
the Issuer and the Trustee, in writing, whether or not it reasonably believes that it will
have available sufficient moneys to make the next two payments of interest and the next
regularly scheduled principal payment on the Securities. If at any time the Unit
reasonably believes that it will not have sufficient moneys available to make any
regularly scheduled payment of principal of or interest on the Securities, the Unit hereby
covenants and agrees to immediately advise the Issuer and the Trustee, in writing, of such
event and the reasons giving rise to such situation.
(b) The Unit will Punish to the Issuer such information, execute such instruments
and take such other action as the Issuer may reasonably request in order to qualify the
Securities for purchase by the Issuer pursuant to the Program and the Act.
(c) The Unit will furnish the audited annual financial statements of the Unit to the
Issuer and the Trustee as soon as practicably possible,but not later than one hundred
eighty(180) days, after the end of each fiscal year of the Unit, will furnish items
requested by the rating agencies to the Issuer and the Trustee as soon as practically
possible, not later than 180 days, after the end of each fiscal year of the Unit or such later
date as shall be reasonably acceptable to the Issuer, and will furnish such other
information to the Issuer and the Trustee as the Issuer or the Trustee may reasonably
request from time to time.
(d) The Unit will not take any action, or permit any action to be taken, or omit to
�j take any action, or permit the omission of any action, which would cause the interest on
the Securities to be subject to inclusion in the gross income of any owner thereof
(assuming that the Issuer or its designee were not such owner) for Federal income tax
purposes. More specifically, the Unit hereby covenants and agrees, as follows:
(i) The Unit will not take any action, or permit any action to be taken, or
omit to take any action, or permit the omission of any action, which would cause
the Securities to become "private activity bonds," within the meaning of Section
141 of the Internal Revenue Code of 1986, as amended(the "Code").
(ii) The Unit (A)will not take any action, or permit any action to be taken,
or omit to take any action, or permit the omission of any action, which would
cause the Securities to become "arbitrage bonds," within the meaning of Section
148 of the Code and any regulations promulgated or proposed thereunder, (B)
will make any necessary "yield reduction payments" to comply with said covenant
and with Section 148 of the Code and such regulations(which yield reduction
payments shall constitute fees relating to the Securities hereunder and subject to
the Intercept Proceeding), and (C)will co-operate with the Issuer in any
reasonable manner which the Issuer may request to ensure compliance with
Section 148 of the Code and such regulations.
4
(iii) To the extent that the Unit is required to comply with the rebate
requirements of Section 148 of the Internal Revenue Code of 1986, as amended
(the "Code"), and the regulations promulgated and proposed thereunder, and does
not qualify for an exemption thereunder, the Unit hereby covenants and agrees to
(A) comply with all requirements of Section 148 of the Code and such
regulations, including without limitation the payments of all required amounts to
the United States (which required rebate payments shall constitute fees relating to
the Securities hereunder and subject to the Intercept Proceeding), (B) provide the
Issuer and the Trustee with all records relating to all proceeds (as defined and
used in Section 148 of the Code)within (30) days after each interest payment date
on the Securities, and (C)to co-operate with the Issuer in any reasonable manner
which the Issuer may request to ensure compliance with Section 148 of the Code
and such regulations.
(iv) In the event that the Unit advance refunds the Securities (i.e.,refunds
the Securities and the payment of all principal of,premium, if any, and interest on
the Securities will not be made within ninety(90) days of such refunding), the
Unit will give written notice of such advance refunding to the Issuer and the
Trustee on the date that the Unit issues the refunding obligations.
(v) The Unit hereby covenants that it will not take any action, omit to take
any action or permit the taking or omission of any action within its control
(including, without limitation, making or permitting any sue of the proceeds of the
Issuers Bonds and the Securities) if taking, permitting or omitting to take such
action would cause any of the Issuers Bonds or the Securities to be an arbitrage
bond or a private activity bond that is not a qualified bond within the meaning of
the code or would otherwise cause the interest on the Issuers Bonds to be included
in the gross income of the recipients thereof for Federal income tax purposes. The
Unit acknowledges that, in the event of an examination by the Internal Revenue
Service of the exemption from Federal income taxation for interest paid on the
Issuers Bonds or the Securities,under present rules, the Issuer is treated as the
"taxpayer"in such examination. The Unit agrees that, in the event of an
examination by the Internal Revenue Service, it will cooperate in connection with
such an examination, and will pay the costs of such an examination to the extent
that the Issuer determines in its sole discretion that such an examination has
resulted directory or indirectly.
(e) The Unit will furnish to the Issuer and the underwriters of the Issuers Bonds
such information, execute such instruments and take such other actions as the Issuer or
such underwriter may reasonably request to qualify the Issuers Bonds or the Securities for
offer and sale under the securities laws and regulations of the United States of America
1 and the states thereof. If at any time within one hundred eighty(180) days after the
issuance of the Securities as a result of any event any information so provided to the
Issuer or such underwriter contains any untrue statement of a material fact or omits to
state any material fact necessary to make the statements made therein, in the light of the
circumstances under which they were made, not misleading, the Unit will immediately
notify the Issuer and such underwriter of such change, and will cooperate with the Issuer
5
in the prompt preparation of a supplement or amendment to any offering documents
relating to the Issuer Bonds, the cost of which the Unit hereby agrees to pay.
ISection S. Certain Costs and Expenses.
(a) Payment of Costs of Issuing the Securities. The Issuer shall be under no
obligation to pay, and the Unit shall pay, all expenses incidental to the performance of the
obligations of the Unit hereunder, including but not limited to: (i) the cost of the
preparation and the publication of the Proceedings and the cost of the completion of the
application to the Issuer(including any amendments or supplements thereto); (ii)the cost
of the preparation and delivery to the Issuer of the Securities; (iii) the fees and
disbursements of bond counsel in connection with the issuance of the Securities, the
accountants, engineers and advisers of the Unit, and any other experts or consultants
retained by the Unit in connection with the issuance and sale of the Securities; and (iv)
any other expenses incurred in connection with the issuance, sale and delivery of the
Securities. The Unit may finance any and all such expenses from the proceeds of the
Securities to the extent permitted by law.
(b) Payment of the Costs of Issuing the Issuer Bonds. The Issuer shall pay, and the
Unit shall be under no obligation to pay,the costs of issuing the Issuer Bonds, including
without limitation: (i)the cost of the preparation of this Agreement; (ii)the cost of the
issuance, sale and delivery of the Issuer Bonds and the preparation of the proceedings and
instruments pursuant to which the Issuer Bonds are to be issued; (iii)the underwriting fee
of the underwriter of the Issuer Bonds; (iv)the fees and disbursements of counsel to the
underwriters of the Issuer Bonds and Bond Counsel in connection with the issuance of
the Issuer Bonds; (v)rating agency fees with respect to the Issuer Bonds and the
acceptance and initial fees of the Trustee; and (vi) any other expenses incurred in
connection with the issuance, sale and delivery of the Issuer Bonds.
1 yin
(c) Pa ent of Annual Fee to the Issuer. The Unit shall pay to the Issuer a fee of
two one-hundredths of one percent of the original aggregate principal amount of the
Securities on February 1, of each year, commencing on February 1, 2004,until paid.
(d) Pam ent of Fees after the Closing Date. From time to time after the Closing
Date,upon receipt of a statement,the Unit shall pay a pro rata share of the fees and
expenses of the Trustee. To determine the pro rata share of such fees and expenses to be
paid by the Unit hereunder,there shall first be determined the amount of such fees and
expenses multiplied by a fraction, the numerator of which is the aggregate principal
amount of the Securities and the denominator of which is the aggregate outstanding
principal amount of all "local governmental securities" purchased with bonds of the
Issuer issued under the Indenture. If said fractional share with respect to the Unit is $100
or less, the Unit shall pay $100 to pay the fees and expenses of the Trustee. If said
fractional share with respect to the Unit is greater than $100,the pro rata share of such
fees and expenses to be paid by the Unit hereunder shall be the amount of such fees and
expenses after deducting the fees paid by any units paying $100 multiplied by a fraction,
the numerator of which is the aggregate principal amount of the Securities and the
denominator of which is the aggregate principal amount of all "local governmental
6
securities" purchased with bonds of the Issuer issued under the Indenture less the
aggregate principal amount of all such Securities with respect to which $100 fees have
been paid.
(e) Payments Pursuant to Section 4(d). The Unit shall make all required payments
pursuant to Section 4(d)hereof when due.
Section 6. Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of Illinois, including,without limitation, those laws
applicable to contracts made and to be performed in the State of Illinois.
Section 7. Successors. This Agreement will inure to the benefit of and be binding upon
the parties hereto and their respective successors, officers and controlling persons, and no other
person will have any right or obligation hereunder. The Unit hereby acknowledges that the
Issuer has the right to, and has under the Indenture, assigned and pledged all of its right,title and
interest in and to this Agreement(except the right of the Issuer to receive certain fees and
expenses).
t
Section 8. Counterparts. This Agreement may be executed in several counterparts, each
of which shall be an original and all of which shall constitute but one and the same instrument.
Section 9. Notices. All communications hereunder will be in writing, and if sent to the
Issuer will be mailed, delivered or telegraphed and confirmed to the Authority at 427 East
Monroe, Suite 202, Springfield, Illinois 62701, Attention: Executive Director, or if sent to the
Unit will be mailed, delivered or telegraphed and confirmed to the address set forth above,
Attention: Traci Pleckham, or at such other address as one party shall designate to the other.
Section 10. Severability. If any provision of this Agreement shall be held or deemed to
be or shall, in fact,be illegal, inoperative or unenforceable,the same shall not affect any other
provision or provisions herein contained or render the same invalid, inoperative or unenforceable
to any extent whatsoever.
Section 11. Effective Date, Term. This Agreement shall become effective upon the
execution of the acceptance hereof by the chief executive officer of the Unit, shall be valid and
enforceable as of the time of such acceptance, and shall continue in full force and effect until the
payment in full of the principal of, premium, if any, and interest on the Securities and all other
sums due and owing by the Unit under this Agreement.
7
ILLINOIS RURAL BOND BANK
BY —Z*txecutive Director
Accepted:
City of Yorkville
KENDALL COUNTY, ILLINOIS
By /
Its District
R
1
1
e
i
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1
M
1
1
1
1
1
1
1
EXHIBIT A
FORM OF SECURITY
1
9
EXHIBIT B
Preliminary, subject to change at the time of bond sale:
February 1 Principal
of the Year Amount
2/1/2004 $120,000
2/1/2005 $ 75,000
2/1/2006 $ 75,000
2/1/2007 $ 75,000
2/1/2008 $ 80,000
2/1/2009 $ 80,000
2/1/2010 $ 80,000
2/1/2011 $ 85,000
2/1/2012 $ 90,000
2/1/2013 $ 90,000
2/1/2014 $ 95,000
2/l/2015 $100,000
2/1/2016 $105,000
2/l/2017 $110,000
2/1/2018 $115,000
2/l/2019 $120,000
2/1/2020 $125,000
2/1/2021 $130,000
2/l/2022 $140,000
2/l/2023 $145,000
10
° ILLINOIS RURAL BOND BANK
' 427 East Monroe, Suite 202 • Springfield, Illinois 62701
Tel: 217.524.2663 • Fax: 217.524.0477 • E-mail: irbb@cros.state.it.us
f Website: www.irbb.org
Rod R.Blagojevich
Governor
Chairman September 10, 2003
Pat Quinn
Lieutenant Governor
Vice Chairman
Judy Boar Topinka Ms. Traci Pleckham
Treasurer City of Yorkville
Eric Watson 800 Game Farm Road
Executive Director Yorkville, Illinois 60560
RE: NOTICE OF BOND INTEREST RATES
Dear Ms. Pleckham:
The Illinois Rural Bond Bank has now completed its Series 2003-B bond pricing
and is pleased to report the following schedule of interest rates:
Year Rate
2005 1.60%
2006 2.05%
2007 2.50%
2008 2.90%
2009 3.25%
2010 3.60%
2011 3.90%
2012 4.10%
2013 4.20%
2014 4.40%
2015 4.55%
2016 4.65%
2017 4.75%
2018 5.05%
2019 5.05%
2020 5.05%
2021 5.10%
2022 5.10%
2023 5.20%
page-2-
This schedule should be included as part of a Confirming Ordinance, to be adopted
prior to September 16, 2003. A transcript of proceedings must be delivered to Mr.
Charles Jarik of Chapman and Cutler by Septembre 19, 2003 by your bond
counsel.
The Bond Bank will complete the closing osmg of the Serves 2003-B bond issue on
September 24, 2003 and your funds will be wire transferred to your account that
morning.
Please contact our office if you have any questions.
Sincerely,
G. Eric Watson
Executive Director
cc: Dan Kramer
Rose Gallagher
STATE OF ILLINOIS )
SS
COUNTY OF KENDALL )
CERTIFICATE ORDER
TO: THE CITY COUNCIL OF THE UNITED CITY OF YORKVILLE,
KENDALL COUNTY,ILLINOIS(THE "CITY"):
We are pleased to advise you as follows:
A. Sale. We are executing this Certificate Order pursuant to the authority contained in
an ordinance adopted on August 26, 2003, by the City Council of the City (the "Certificate
Ordinance") (terms used herein shall have the meanings given to them in the Certificate
Ordinance unless otherwise defined herein), and being entitled:
AN ORDINANCE of the United City of Yorkville, Kendall County,
Illinois, authorizing and providing for an Installment Purchase
Agreement for the purpose of paying the cost of acquiring and
installing sewer improvements within the City (Bruell Street Sewer
Project), and authorizing and providing for the issue of$2,035,000
Debt Certificates, Series 2003A, evidencing the rights to payment
under such Agreement, prescribing the details of the Agreement
and Certificates, and providing for the security for and means of
payment under the Agreement of the Certificates.
A contract for the purchase of the Certificates to the amount of$2,035,000 has been awarded by
us, as the Designated Officers under the Certificate Ordinance, to the Illinois Rural Bond Bank,
Springfield, Illinois (the "Purchaser"), at a price of$2,002,440, plus accrued interest to the date
of delivery of the Certificates. This Certificate Order shall be entered into the records of the City
and made available to the City Council at the next regularly scheduled meeting thereof.
1550010.01.07
2110781•KK•9/5/03
B. Terms. The terms of the Certificates are fair and reasonable in view of current
rconditions in the certificate market. The Certificates shall be dated September 1, 2003 and shall
be due serially on February 1 of the years, in the amounts and bearing interest as follows:
YEAR OF MATURITY PRINCIPAL AMOUNT RATE OF INTEREST
2005 $80,000 1.60%
2006 80,000 2.05%
2007 80,000 2.50%
2008 80,000 2.90%
2009 85,000 3.25%
2010 85,000 3.60%
2011 90,000 3.90%
2012 95,000 4.10%
2013 100,000 4.20%
2014 100,000 4.40%
2015 105,000 4.55%
2016 110,000 4.65%
2017 115,000 4.75%
2018 120,000 5.05%
2019 130,000 5.05%
2020 135,000 5.05%
2021 140,000 5.10%
2022 150,000 5.10%
2023 155,000 5.20%
We hereby expressly find and determine that no Certificate bears interest at a rate in excess of
eight and seventy-five hundredths percent (8.75%) per annum as required under the Certificate
Ordinance.
Interest on the Certificates shall be payable on February 1 and August 1 commencing
February 1, 2004, principal on the Certificates shall be payable on February 1 commencing
February 1, 2005, and shall be paid as set forth in the Certificate Ordinance, except that, during
any period that the Purchaser, or U.S. Bank National Association, St. Louis, Missouri (the
"Pain Agent"),
y g as trustee for the Purchaser, is the registered owner of all or any part of the
Certificates outstanding, immediately available funds for each of the principal of, premium, if
any, and interest on the Certificates shall be available at the principal corporate trust office of the
-2-
Paying Agent not later than five (5) days prior to each such principal, premium, if any, and
interest payment date.
C. Redemption. The Certificates due February 1, 2014, and thereafter are subject to
redemption prior to maturity at the option of the City, from any available funds, in whole or in
part on any interest payment date on or after February 1, 2013 at the redemption price of par plus
accrued interest to the redemption date.
D. No Conflicts. Please be further advised that we hereby affirm that no person
holding any office of the City either by election or appointment, is in any manner financially
interested, either directly in his or her own name or indirectly in the name of any other person,
associate, trust or corporation, in the certificate purchase contract with the Purchaser.
IN WITNESS WHEREOF, we have hereunto affixed our official signatures and the
corporate seal of the City this 4th day of September, 2003.
Mayor
YQ
le
City Treasurer
[SEAL]
-3-
ACKNOWLEDGMENT OF FILING
Filed in the office of the City Clerk of the City of Yorkville, Kendall County, Illinois this
' 4th day of September, 2003.
le
-4-
STATE OF ILLINOIS )
SS
COUNTY OF KENDALL )
AVAILABILITY OF CERTIFICATE ORDER
I, the undersigned, do hereby certify that I am the duly qualified and acting City Clerk of
the United City of Yorkville, Kendall County, Illinois (the "City"), and as such official I am the
keeper of the official journal
p � of proceedings, books, records, minutes and files of the City
Council of the City thereof(the "City Council").
I do further certify that I made or will make available to all members of the City Council
a Certificate Order, as such term is defined in an ordinance entitled:
AN ORDINANCE of the United City of Yorkville, Kendall County,
Illinois, authorizing and providing for an Installment Purchase
Agreement for the purpose of paying the cost of acquiring and
installing sewer improvements within the City (Bruell Street Sewer
Project), and authorizing and providing for the issue of$2,035,000
Debt Certificates, Series 2003A, evidencing the rights to payment
under such Agreement, prescribing the details of the Agreement
and Certificates, and providing for the security for and means of
payment under the Agreement of the Certificates.
at the public meeting of the City Council held on the C-)_L day o , 2003, being the
first regularly scheduled meeting of the City Council following the execution of the Certificate
Order. I do further certify that the Certificate Order is responsive to such ordinance and that a
true, correct and complete copy of the Certificate Order as provided at said meeting is attached
hereto.
IN WITNESS WHEREOF I hereunto affix my official signature and the seal of the City this
4th day of September, 2003.
[SEAL]
' yC
STATE OF ILLINOIS )
SS
COUNTY OF KENDALL )
ORGANIZATION CERTIFICATE
We, the undersigned, do hereby certify that we are the duly qualified and acting Mayor
and City Clerk, respectively, of the United City of Yorkville, Kendall County, Illinois (the
' "City"), and as such officials we do further certify as follows:
1. That the City was organized and incorporated as a City under the laws of the State
of Illinois in the year 1957, has continuously since its incorporation operated
under the general laws of the State of Illinois as a City governed by a City
Council, has never changed its form of government, is now operating under the
provisions of the Illinois Municipal Code, as amended (65 ILCS 5/1-1-1 et seq.)
(the "Code"), and is not now operating under the provisions of any special act or
charter.
2. That the City has not adopted and is not now operating under the provisions of
Article 4 of the Code, said article providing for "The Commission Form of
Municipal Government"; has not adopted and is not now operating under the
provisions of Article 5 of the Code, said article providing for "The Managerial
4
Form of Municipal Government"; has not adopted and is not now operating under
the provisions of Articles 6, 14 and 18 of the Election Code of the State of
Illinois, as amended (10 ILCS 5/6, 5/14 and 5/18), said articles being known as
"The City Election Law"; and has not elected by referendum to become a home
rule unit under the provisions of the 1970 Constitution of the State of Illinois.
3. That the present duly qualified and acting officials of the City are as follows:
Arthur F. Prochaska, Jr., Mayor
Paul James, Alderman
Richard Sticka, Alderman
Valerie Burd, Alderman
Larry Kot, Alderman
Marty Munns, Alderman
' Wanda Ohare, Alderman
Rose Spears, Alderman
Joe Besco, Alderman
Jacquelyn Milschewski, City Clerk
William Powell, City Treasurer
and that said members of the City Council of the City (the "Council") have been
the duly qualified and acting Council since April 1, 2003, and provided there are
no vacancies created by resignation or otherwise, will constitute the Council until
1550012.01.09
2110781 •RG•9/5/03
the election for members of the Council to be held in April, 2005, is canvassed
and a new Council duly constituted.
4. That the changes in the boundaries of the City since July 9, 2003 were as follows:
(Attach copy of the orders and ordinances providing for all such changes. If no
changes have occurred, please so indicate with the word"none".)
5. That Kendall County is the only county within which the City is wholly located,
and that said county has not adopted and is not now operating under the
provisions of Article 6A of the Election Code of the State of Illinois, as amended
(10 ILCS 5/6A), said article providing for a county board of election
commissioners.
6. That the Kendall County Record is a newspaper with a general circulation within
the City.
7. That all of the news media that have filed a request for notice of the meetings of
the Council pursuant to the Open Meetings Act of the State of Illinois, as
amended (5 ILCS 120/1 et seq.), are as follows: The Beacon News, Kendall
1 County Record and WS24.
8. That the regular meetings of the Council are held on the second and fourth
Tuesday of each month at 7:00 o'clock P.M., at the Council Chambers at City
Hall, 800 Game Farm Road, Yorkville, within the City. However, during the
renovation of the City Hall which is anticipated to take place from June, 2003 to
October, 2003, meetings will take place at the Beecher Community Center, 908
Game Farm Road, within the City. That the Council has given public notice of
said schedule of regular meetings stating the regular dates, times and places of
said meetings at the beginning of each calendar or fiscal year by posting a copy of
said public notice at the principal office of the Council and by supplying copies of
said public notice to all of the newspapers, radio or television stations and other
news media that have filed a request for such notice, and that the Council has
made said schedule available to the public. That the Council has also provided
notice of the temporary location by posting a copy of said public notice at the
principal office of the Council and by supplying copies of said public notice to all
of the newspapers, radio or television stations and other news media that have
filed a request for such notice, and that the Council has made said schedule
available to the public.
9. That the City has an official population of 6,189, and that there are approximately
4,777 legal voters in the City.
10. That no petition has been filed or is now pending praying for the disconnection of
any territory from the present corporate limits of the City.
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11. That there is no litigation or controversy pending or threatened and there are no
tax objections pending or threatened questioning or affecting in any manner
whatsoever the corporate existence of the City, the boundaries thereof, the right of
the City to levy taxes for municipal purposes or the title of any of its present
officials to their respective offices.
IN WITNESS WHEREOF, we hereunto affix our official signatures and the seal of the City,
this 4th day of September, 2003.
Mayor
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rSTATE OF ILLINOIS )
) SS
COUNTY OF KENDALL )
INDEBTEDNESS CERTIFICATE
We, the undersigned, do hereby certify that we are the duly qualified and acting City
Clerk and City Treasurer, respectively of the United City of Yorkville, Kendall County, Illinois
(the "City"), and as such officials we do further certify that the total aggregate indebtedness of
the City, of every kind and nature and howsoever evidenced or incurred, excluding the proposed
Debt Certificates, Series 2003A, does not exceed the total sum of $ 11,090,025 which said
indebtedness is itemized as follows:
Bonds issued by the City (not including alternate bonds,
funding bonds, revenue bonds, special service area bonds,
tax increment allocation bonds and bonds issued pursuant
to Sections 84-1(13) or 8-5-16 of the Illinois Municipal
Code, as amended (the "Code"))...........................................................$
' Alternate bonds issued pursuant to Section 15 of the Local
Government Debt Reform Act of the State of Illinois, as
amended...................................................................................................$ 000--
Funding bonds issued pursuant to Sections 8-1-4 and 8-5-2
ofthe Code...............................................................................................$
Special service area bonds issued pursuant to the Special
Service Area Tax Law of the State of Illinois, as amended.....................$ a 3 Q v—
Tax increment allocation bonds issued pursuant to
Section 11-74.4-7 of the Code..................................................................$
"Compliance schedule or order bonds" issued ed pursuant to
Section 8-4-1(13) of the Code.................................................................$
Bonds issued pursuant to Section 8-5-16 of the Code.............................$
' Contracts (including all payments on installment purchase
contracts and public utility contracts)......................................................$ �� a
Indebtedness resulting from annexations of territory..............................$
Judgments................................................................................................$
Leases (including all payments on with public building
' commission leases)..................................................................................$
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Miscellaneous floating indebtedness.......................................................$
Special Assessments levied against City property...................................$
Unpaid public benefit judgments.............................................................$
Other forms of debt (not including warrants issued in
anticipation of the collection of taxes levied)..........................................$
all of which appears from the books and records in our official respective care and custody.
IN WITNESS WHEREOF, we hereunto affix our official signatures and the seal of the City,
this 4th day of September, 2003.
aw
er City Treasurer
(SEAL)
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STATE OF ILLINOIS )
SS
COUNTY OF KENDALL )
' 2002 VALUATION CERTIFICATE
I, the undersigned, do hereby certify that I am the duly qualified and acting County Clerk
of The County of Kendall, Illinois (the "County"), and as such official I do further certify that
the equalized assessed value of all taxable real property located in the County included within
the boundaries of the United City of Yorkville, Kendall County, Illinois, as of the date of this
certificate, is the sum of$ OS 4, as last equalized or assessed by the Department of
Revenue of the State of Illinois, for State and County taxes for the year 2002, all as appears from
the books of assessment of the County now in my possession.
1 IN WITNESS WHEREOF,I hereunto affix my official signature and the seal of the County,
this day of September, 2003.
/J
County Clerk of The County of Kendall Illinois
(SEAL)
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CONTINUING DISCLOSURE UNDERTAKING
FOR THE PURPOSE OF PROVIDING
' CONTINUING DISCLOSURE INFORMATION
UNDER SECTION (b)(5) OF RULE 15c2-12
' This Continuing Disclosure Undertaking (this "Agreement") is executed and delivered by
the United City of Yorkville, Kendall County, Illinois (the "City"), in connection with the
issuance of$2,035,000 Debt Certificates, Series 2003A (the "Certificates"). The Certificates are
' being issued pursuant to an ordinance passed by the City Council of the City on August 26, 2003
(the "Ordinance").
' In consideration of the issuance of the Certificates by the City and the purchase of such
Certificates by the beneficial owners thereof, the City covenants and agrees as follows:
1. PURPOSE OF THIS AGREEMENT. This Agreement is executed and delivered by the City
as of the date set forth below, for the benefit of the beneficial owners of the Certificates and in
order to assist the Participating Underwriters in complying with the requirements of the Rule (as
defined below). The City represents that it will be the only obligated person with respect to the
Certificates at the time the Certificates are delivered to the Participating Underwriters and that no
other person is expected to become so committed at any time after issuance of the Certificates.
' 2. DEFINITIONS. The terms set forth below
shall have the following meanings in this
Agreement, unless the context clearly otherwise requires.
Annual Financial Information is defined in the
Official Statement.
Annual Financial Information Disclosure means the dissemination of disclosure
concerning Annual Financial Information and the dissemination of the Audited Financial
Statements as set forth in Section 4.
' Audited Financial Statements means the audited financial statements of the City prepared
pursuant to the standards and as described in Exhibit I.
Commission means the Securities and Exchange Commission.
' Dissemination Agent means any agent designated as such in writing by the City and
which has filed with the City a written acceptance of such designation, and such agent's
successors and assigns.
Exchange Act means the Securities Exchange Act of 1934, as amended.
' Material Event means the occurrence of any of the Events with respect to the Certificates
set forth in Exhibit II that is material, as materiality is interpreted under the Exchange Act.
Material Events Disclosure means dissemination of a notice of a Material Event as set
forth in Section 5.
1543391.01.07
2110781-RG-9/5/03
MSRB means the Municipal Securities Rulemaking Board.
' NRMSIRs means, as of any date, all Nationally Recognized Municipal Securities
Information Repositories then recognized by the Commission for purposes of the Rule. As of the
date of this Agreement, the NRMSIRs are:
Bloomberg Municipal Repository
100 Business Park Drive
' Skillman,NJ 08558
Phone: (609) 279-3225
Fax: (609) 279-5962
http://www.bloomberg.com/markets/muni_contactinfo.html
E-Mail: Munis@Bloomberg.com
' DPC Data Inc.
One Executive Drive
Fort Lee, NJ 07024
Phone: (201) 346-0701
Fax: (201) 947-0107
http://www.dpcdata.com
' E-Mail: nrmsir(Cdpcdata.com
FT Interactive Data
' Attn: NRMSIR
100 Williams Street
New York, NY 10038
Phone: (212) 771-6999
Fax: (212) 771-7390 (Secondary Market Information)
' (212) 771-7391 (Primary Market Information)
http://www.interactivedata.com
E-Mail: NRMSIR@FTID.com
' Standard & Poor's J. J. Kenny Repository
55 Water Street
' 45th Floor
New York, NY 10041
Phone: (212)438-4595
Fax: (212) 438-3975
www.jjkenny.com/jjkenny/Pser_descrip_data_rep.html
E-Mail: nrmsir_repositoryC sandp.com
' The names and addresses of all current NRMSIRs should be verified each time
information is delivered to the NRMSIRs pursuant to this Agreement.
Official Statement means the Final Official Statement, dated September 18 2
relating to the Certificates. P 003, and
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Participating Underwriter means each broker, dealer or municipal securities dealer
acting as an underwriter in the primary offering of the Certificates.
Rule means Rule 15c2-12 adopted by the Commission under the Exchange Act, as the
same may be amended from time to time.
SID means the public or private repository designated by the State as the state
information depository and recognized as such by the Commission for purposes of the Rule. As
' of the date of this Agreement there is no SID.
State means the State of Illinois.
Undertaking means the obligations of the City pursuant to Sections 4 and 5.
' 3. CUSIP NUMBERS. The Certificates are not assigned CUSIP Numbers.
4. ANNUAL FINANCIAL INFORMATION DISCLOSURE. Subject to Section 9 of this
Agreement, the City hereby covenants that it will disseminate its Annual Financial Information
and its Audited Financial Statements (in the form and by the dates set forth in Exhibit I) to each
NRMSIR and to the SID, if any. The City is required to deliver such information in such manner
' and by such time so that such entities receive the information by the dates specified.
If any part of the Annual Financial Information can no longer be generated because the
operations to which it is related have been materially changed or discontinued, the City will
disseminate a statement to such effect as part of its Annual Financial Information for the year in
which such event first occurs.
If any amendment is made to this Agreement,
the Annual Financial Information for the
year in which such amendment is made (or in any notice or supplement provided to each
NRMSIR and the SID, if any) shall contain a narrative description of the reasons for such
amendment and its impact on the type of information being provided.
' 5. MATERIAL EVENTS DISCLOSURE. Subject to Section 9 of this Agreement, the City
hereby covenants that it will disseminate in a timely manner Material Events Disclosure to each
NRMSIR or to the MSRB and to the SID, if any. Notwithstanding the foregoing, notice of
' optional or unscheduled redemption of any Certificates or defeasance of any Certificates need
not be given under this Agreement any earlier than the notice (if any) of such redemption or
defeasance is given to the Certificateholders pursuant to the Ordinance.
6. DUTY TO UPDATE NRMSIRs/SID. The City shall determine, in the manner it deems
' appropriate, the names and addresses of the then existing NRMSIRs and SID each time it is
required to file information with such entities.
' 7. CONSEQUENCES OF FAILURE OF THE CITY TO PROVIDE INFORMATION. The City shall
give notice in a timely manner to each NRMSIR or to the MSRB and to the SID, if any, of any
failure to provide Annual Financial Information Disclosure when the same is due hereunder.
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' In the event of a failure of the City to comply with any provision of this Agreement, the
beneficial owner of any Certificate may seek mandamus or specific performance by court order,
to cause the City to comply with its obligations under this Agreement. A default under this
Agreement shall not be deemed a default under the Ordinance, and the sole remedy under this
Agreement in the event of any failure of the City to comply with this Agreement shall be an
action to compel performance.
8. AMENDMENTS; WAIVER. Notwithstanding any other provision of this Agreement, the
' City by Ordinance authorizing such amendment or waiver, may amend this Agreement, and any
provision of this Agreement may be waived, if.
(a) The amendment or waiver is made in connection with a change in
circumstances that arises from a change in legal requirements, change in law, or change
in the identity, nature, or status of the City, or type of business conducted;
t (b) This Agreement, as amended or the
provision, as waived, would have
complied with the requirements of the Rule at the time of the primary offering, after
' taking into account any amendments or interpretations of the Rule, as well as any change
in circumstances; and
' (c) The amendment or waiver does not materially impair the interests of the
beneficial owners of the Certificates, as determined by parties unaffiliated with the City
(such as Bond Counsel).
9. TERMINATION OF UNDERTAKING. The Undertaking of the City shall be terminated
hereunder if the City shall no longer have any legal liability for any obligation on or relating to
repayment of the Certificates under the Ordinance. The City shall give notice in a timely in
if this Section is applicable to each NRMSIR or to the MSRB and to the SID, if any.
' 10. DISSEMINATION AGENT. The City may, from time to time, appoint or engage a
Dissemination Agent to assist it in carrying out its obligations under this Agreement, and may
discharge any such Dissemination Agent, with or without appointing a successor Dissemination
Agent.
'
II. ADDITIONAL INFORMATION. Nothing in this Agreement shall be deemed to prevent
the City from disseminating any other information, using the means of dissemination set forth in
this Agreement or any other means of communication, or including any other information in any
' Annual Financial Information Disclosure or notice of occurrence of a Material Event, in addition
to that which is required by this Agreement. If the City chooses to include any information from
any document or notice of occurrence of a Material Event in addition to that which is specifically
required by this Agreement, the City shall have no obligation under this Agreement to update
such information or include it in any future disclosure or notice of occurrence of a Material
Event.
' 12. BENEFICIARIES. This Agreement has been executed in order to
Participating Underwriters in complying with the Rule; however, this Agreements shall inure
nure
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EXHIBIT I
ANNUAL FINANCIAL INFORMATION AND TIMING AND AUDITED
FINANCIAL STATEMENTS
All or a portion of the Annual Financial Information and the Audited Financial
Statements as set forth below may be included by reference to other documents which have been
submitted to each NRMSIR and to the SID, if any, or filed with the Commission. If the
information included by reference is contained in a Final Official Statement, the Final Official
Statement must be available from the MSRB; the Final Official Statement need not be available
from each NRMSIR, the SID or the Commission. The City shall clearly identify each such item
of information included by reference.
Annual Financial Information exclusive of Audited Financial Statements will be provided
to each NRMSIR and to the SID, if any, by 210 days after the last day of the City's fiscal year.
Audited Financial Statements as described below should be filed at the same time as the Annual
Financial Information. If Audited Financial Statements are not available when the Annual
Financial Information is filed, unaudited financial statements shall be included.
Audited Financial Statements will be prepared in accordance with the accounting
principles described in the Official Statement. Audited Financial Statements will be provided to
each NRMSIR and to the SID, if any, within 30 days after availability to the City.
If any change is made to the Annual Financial Information as permitted by Section 4 of
the Agreement, the City will disseminate a notice of such change as required by Section 4.
EXHIBIT I
solely to the benefit of the City, the Dissemination Agent, if any, and the beneficial owners of the
Certificates, and shall create no rights in any other person or entity.
i13. RECORDKEEPING. The City shall maintain records of all Annual Financial
Information Disclosure and Material Events Disclosure, including the content of such disclosure
the names of the entities with whom such disclosure was filed and the date of filing such
disclosure.
14. ASSIGNMENT. The City shall not transfer its obligations under the Ordinance unless
the transferee agrees to assume all obligations of the City under this Agreement or to execute an
Undertaking under the Rule.
15. GOVERNING LAW. This Agreement shall be overned b
g y the laws of the State.
tUNITED CITY OF YORKVILLE, KENDALL COUNTY,
ILLINOIS
B
'
Date: September 24, 2003
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EXHIBIT II
EVENTS WITH RESPECT TO THE CERTIFICATES
FOR WHICH MATERIAL EVENTS DISCLOSURE IS REQUIRED
1. Principal and interest payment delinquencies
2. Non-payment related defaults
3. Unscheduled draws on debt service reserves reflecting financial difficulties
4. Unscheduled draws on credit enhancements reflecting financial difficulties
5. Substitution of credit or liquidity providers, or their failure to perform
6. Adverse tax opinions or events affecting the tax-exempt status of the security
' 7. Modifications to the rights of security holders
8. Certificate calls
9. Defeasances
' 10. Release, substitution or sale of property securing repayment of the securities
11. Rating changes
EXHIBrr I1
STATE OF ILLINOIS )
SS
COUNTY OF KENDALL )
INCUMBENCY,NON-LITIGATION,NON-ARBITRAGE,
COMFORT AND SIGNATURE IDENTIFICATION CERTIFICATE
We, the undersigned, being authorized and directed to sign the certificates hereinafter
described, do hereby certify that we are now and were at the time of signing said certificates the
duly qualified and acting officials of the United City of Yorkville, Kendall County, Illinois (the
"City"), as indicated by the titles appended to our respective signatures, and that as such officials
we have executed $2,035,000 Debt Certificates, Series 2003A, of the City (the "Certificates"),
dated September 1, 2003, fully registered and without coupons, due serially on February 1 of the
years and in the amounts and bearing interest as follows:
YEAR OF MATURITY PRINCIPAL AMOUNT RATE OF INTEREST
2005 $ 80,000 1.60%
2006 80,000 2.05%
2007 80,000 2.50%
2008 80,000 2.90%
2009 85,000 3.25%
2010 85,000 3.60%
2011 90,000 3.90%
2012 95,000 4.10%
2013 100,000 4.20%
2014 100,000 4.40%
2015 105,000 4.55%
2016 110,000 4.65%
2017 115,000 4.75%
2018 120,000 5.05%
2019 130,000 5.05%
2020 135,000 5.05%
2021 140,000 5.10%
2022 150,000 5.10%
2023 155,000 5.20%
the Certificates due on or after February 1, 2014, being subject to redemption prior to maturity at
the option of the City as a whole or in part in any order of their maturity as determined by the
City (less than all of the Certificates of a single maturity to be selected by the Certificate
' Registrar), on February 1, 2013, or on any interest payment date thereafter, at the redemption
price of par plus accrued interest to the redemption date, by signing the Certificates in the
manner and capacity indicated by our respective signatures and titles appended hereto and that
the seal of the City has been affixed to or printed on the Certificates.
We do further certify that there is no litigation or controversy pending or threatened
questioning or affecting in any manner whatsoever the corporate existence of the City, the
boundaries thereof, the right of the City to levy taxes for municipal purposes, the title of any of
its present officials to their respective offices, the proceedings incident to the issue or sale of the
Certificates or the issue, sale or validity of the Certificates, and that none of the proceedings
providing for the issue or sale of the Certificates have been revoked or rescinded.
We do further certify that all of the certifications, conclusions, expectations,
representations and statements made and set forth by the City Council of the City in Section 14
of the ordinance adopted on the 26th day of August, 2003, authorizing the Certificates (the
"Ordinance") are still reasonable and true; that the foregoing certification is based in part upon
the amounts set forth in said Ordinance having actually been received and paid into the various
funds and accounts of the City as set forth in the Ordinance; that the undersigned have reviewed
the facts, estimates and circumstances in existence on the date hereof and such facts, estimates
and circumstances, together with the expectations of the City as to future events, are set forth in
summary form in said section; that said facts and estimates are true and are not incomplete in any
material respect; and that such expectations are reasonable and there are no other facts, estimates
or circumstances that would materially change such expectations.
We do further certify that to the best of our knowledge and belief all Official Statements,
' Notices of Sale and other documents, information or materials, together with any supplements
thereto, distributed and all representations made by the City and by its officials in any manner
whatsoever in connection with the sale of the Certificates were at all times and are now true and
correct in all material respects and did not at any time and do not now contain any untrue
statement of a material fact or omit to state a material fact necessary to make the statements
made therein, in light of the circumstances under which they were made, not misleading; that the
City has duly performed all of its obligations under the Ordinance to be performed on or prior to
the date hereof; and that all representations and warranties of the City contained in all contracts
entered into by the City providing for the sale of the Certificates are true and correct on and as of
the date hereof as if made at the date hereof and the City has complied with all of the agreements
and satisfied all the conditions on its part to be performed or satisfied prior to the date hereof.
We do further certify that the Village is in compliance with each and every undertaking
previously entered into by it pursuant to Rule 15c2-12 adopted by the Securities and Exchange
Commission under the Securities Exchange Act of 1934.
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IN WITNESS WHEREOF, we hereunto affix our official signatures and the seal of the City,
this 24th day of September, 2003.
SIGNATURES OFFICIAL TITLES
Mayor
City Clerk
City Treasurer
(SEAL)
I do hereby certify that I am a _— l! . [Title] of
State of Illinois, and that I am personally
acquainted with the officials whose signatures appear above and that I know that they are now
and were at the time of signing the Certificates the duly qualified and acting officials of the City,
as indicated by the titles appended to their respective signatures, and I do hereby identify said
signatures, together with those on the Certificates, as being in all respects true and genuine.
DATED as of the date shown hereinabove.
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TREASURER'S RECEIPT
I, the undersigned, do hereby certify that I am the duly qualified and acting City
Treasurer of the United City of Yorkville, Kendall County, Illinois (the "City"), and as such
official I do further certify that $2,035,000 Debt Certificates, Series 2003A, of the City (the
"Certificates"), dated September 1, 2003, fully registered and without coupons, have been
delivered to the purchaser thereof, namely, the Illinois Rural Bond Bank, that the Certificates
have been paid for in full by said purchaser in accordance with the terms of sale and at a price of
not less than $2,002,440, plus accrued interest to the date of delivery, and that the Certificates
1 have been sold at such price and bear interest at such rates that neither the true interest cost
(yield) nor the net interest rate received by the City upon such sale exceed 5.20%.
I do further certify that the total aggregate indebtedness of the City, howsoever evidenced
and howsoever incurred, including the Certificates but not including (alternate or double-
barrelled) bonds issued pursuant to Section 15 of the Local Government Debt Reform Act of the
State of Illinois, as amended ("Alternate Bonds"), does not exceed the sum of$ 11 ,o90,
I do further certify that no taxes, other than a designated revenue source, have ever been
extended to pay Alternate Bonds.
I do further certify that the officials whose signatures appear upon the Certificates were in
occupancy and possession of their respective offices at the time of signing and delivery of the
Certificates.
I do further certify that simultaneously with and as a part of the same transaction as the
delivery and issue of the Certificates, I applied the proceeds of sale of the Certificates as follows:
(a) In the Project Fund of the City..................................... $ 1,994,940.00
(b) To paying ex in the of issuing the Certificates...... $ 40,060.00
expenses g
(c) In the Debt Certificates, Series 2003A, Certificate
Fund of the District....................................................... $ 5,540.13
i
IN WITNESS WHEREOF, I hereunto affix my official signature, this 24th day of
September, 2003.
City Treasurer
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iSTATE OF ILLINOIS )
SS
COUNTY OF KENDALL )
SIGNATURE CERTIFICATE
I, the undersigned, do hereby certify under oath that I am duly qualified and acting Mayor
of the United City of Yorkville, Kendall County, Illinois, and as such official I do further certify
under oath as follows:
1. That I am an Authorized Official within the meaning of the provisions of
Section 1(c) of the Uniform Facsimile Signature of Public Officials Act, as amended.
2. That my signature is required or permitted on a public security or instrument
of payment as defined in said Act.
3. That I am filing my signature with the Secretary of State of the State of
Illinois, certified under oath, so as to permit the use of a facsimile thereof upon a public
security or instrument of payment requiring or permitting my signature as provided in
said Act.
THEREFORE, hereby certify under oath, that the following is
my manual signature:
n
Mayor
Subscribed and-sworn to before
me this day of September, 2003.
"OFFICIAL SEAL'
L"
j ` $ Elizazabetheth A.D'Anna =
1 tttZ Notary Public.State of Illinois $
My Commission Expires 10-30-2006
Notary Public
1 F L
My commission expires: L INDEX DEPARTMENT
[NOTARY SEAL] SEP 1 9 2003
IN THE OFFICE OF
SECRETARY OF STATE
i
STATE OF ILLINOIS )
SS
' COUNTY OF KENDALL )
' SIGNATURE CERTIFICATE
I, the undersigned, do hereby certify under oath that I am duly qualified and acting City
Clerk of the United City of Yorkville, Kendall County, Illinois, and as such official I do further
certify under oath as follows:
1. That I am an Authorized Official within the meaning of the provisions of
Section 1(c) of the Uniform Facsimile Signature of Public Officials Act, as amended.
2. That my signature is required or permitted on a public security or instrument
of payment as defined in said Act. -
3. That I am filing my signature with the Secretary of State of the State of
Illinois, certified under oath, so as to permit the use of a facsimile thereof upon a public
security or instrument of payment requiring or permitting my signature as provided in
said Act.
THEREFORE, hereby certify under oath, that the following is
my manual signature:
CNY Clerk
Subscribed and sworn to before
me this L2��day of September, 2003.
of ' Public INDEX
� DEPARTMENT
My commission expires: ��' •�L Locr SEP 1 9 2003
IN THE OFFICE OF
[NOTARY SEAL] ._..-�)F�;ICIAL sw� a"
Elizabeth A.D'Annu SECRET ARY OF STATE
Votary Ymbfic.i:a,e of Illinois S
Information Return for Tax-Exempt Governmental Obligations
orm 8038-G P 9
► Under Internal Revenue Code section 149(e) OMB No.1545-0720
' (Rev. November 2000) ► See separate Instructions.
Department of the Treasury Caution: If the issue rice is under$100,000, use Form 8038-GC.
Internal Revenue Service P
• Reporting Authority If Amended Return, check here ► ❑
1 Issuer's name 2 Issuer's employer identification number
United City of Yorkville,Kendall County,Illinois 36 6006169
3 Number and street(or P.O. box if mail is not delivered to street address) Room/suite 4 Report number
800 Game Farm Road 3 2003-2
' 5 City,town, or post office, state, and ZIP code 6 Date of issue
Yorkville,Illinois 60560 9-24-2003
7 Name of issue 8 CUSIP number
Debt Certificates,Series 2003A N/A
9 Name and title of officer or legal representative whom the IRS may call for more information 10 Telephone number of officer or legal representative
Traci Pleckham,Finance Director ( 630 )553-4352
MM Type of Issue (check applicable box(es) and enter the issue rice) See instructions and attach schedule
' 11 ❑ Education . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
12 ❑ Health and hospital . . . . . . . . . . . . . . . . . . . . . . . 12
13 ❑ Transportation . . . . . . . . . . . . . . . . . . . . . . . . . 13
+� 14 ❑ Public safety. . . . . . . . . . . . . 14
)
15 ❑ Environment(including sewage bonds 15
16 El Housing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
17 ❑ Utilities . . . . . . . . . . . 17
18 2 Other. Describe p. sewer improvements 1g 2,035,000
19 If obligations are TANS or RANs, check box ► ❑ If obligations are BANs, check box ► ❑
20 If obligations are in the form of a lease or installment sale, check box ► ❑
• Descri tion of Obligations. Complete for the entire issue for which this form is beinq filed.
(a)Final maturity date (b)Issue price (c)Stated redemption (d)Weighted (e)Yield
price at maturity average maturity
21 2-1-2023 $ 2,035,000 $ 2,035,000 11.562 years 4.6582
M. Uses of Proceeds of Bond Issue (including underwriters' discount
22 Proceeds used for accrued interest 22 5,540.13
23 Issue price of entire issue (enter amount from line 21, column(b)) . . . . . 23 2,035,000
24 Proceeds used for bond issuance costs(including underwriters' discount) . 24 42 560
25 Proceeds used for credit enhancement . . . . . . . . . . . 25 -0-
26 Proceeds allocated to reasonably required reserve or replacement fund . . 26 -0-
27 Proceeds used to currently refund prior issues . . . . . . . . . 27 -0-
28 Proceeds used to advance refund prior issues . . . . . . 28 -0-
29 Total (add lines 24 through 28) . . 29 42,560
30 Nonrefundin proceeds of the issue subtract line 29 from line 23 and enter amount here . . 30 1,992,440
• Descri tion of Refunded Bonds (Complete this part only for refunding bonds.
31 Enter the remaining weighted average maturity of the bonds to be currently refunded . . . ► years
32 Enter the remaining weighted average maturity of the bonds to be advance refunded . . . ► years
33 Enter the last date on which the refunded bonds will be called . . . . . . . . . . . ►
34 Enter the date(s) the refunded bonds were issued lo-
FIRM Miscellaneous
35 Enter the amount of the state volume cap allocated to the issue under section 141(b)(5) 35
36a Enter the amount of gross proceeds invested or to be invested in a guaranteed investment contract(see instructions) 36a
b Enter the final maturity date of the guaranteed investment contract ► WE
37 Pooled financings: a Proceeds of this issue that are to be used to make loans to other governmental units 37a
b If this issue is a loan made from the proceeds of another tax-exempt issue, check box ► 41 and enter the name of the
' issuer ► Illinnifi Rural Ronri RAnk and the date of the issue ► 9-24-03
38 If the issuer has designated the issue under section 265(b)(3)(B)(i)(111) (small issuer exception), check box o. El 39 If the issuer has elected to pay a penalty in lieu of arbitrage rebate, check box . . . . . . . . . . , . ► ❑
40 If the issuer has identified a hedge, check box ► ❑
. . . . . . . . . . . . . . . . . . . . . . .
Under penalties of perjury,I declare that I have examined this return and accompanying schedules and statements,and to the best of my knowledge
Sign
and belief,they are true,correct,and complplete.
l� ►._ /cwc
e
Jere ' 9-24-2003 ' William Powell,Treasurer
Signature of issuer's authorized representative Date Type or print name and title
For Paperwork Reduction Act Notice, see page 2 of the Instructions. cat. No.63773s Form 8038-G (Rev. 11-2000)
1539850
:Z) oo United City of Yorkville
1836
EST. County Seat of Kendall County
, �
' 800 Game Farm Road
CO) Yorkville, Illinois 60560
Phone:630-553-4350 l
�X Fax:630-553-7575
v
Ibeo� ural Bond Bank September 24, 2003
ast Monroe
Springfield, Illinois 62701
A.G. Edwards & Sons Inc
One North Jefferson
' St. Louis, Missouri 63103
Chapman and Cutler LLP
111 West Monroe Street
Chicago, Illinois 60603
Re: United City of Yorkville, Kendall County,Illinois
$2,035,000 Debt Certificates Series 2063A
Ladies and Gentlemen:
I am advised that you, as bond counsel have been requested to approve the validity of
$2,035,000 Debt Certificates, Series 2003A (the "Certificates"), to be issued by the United City
' of Yorkville, Kendall County, Illinois (the "City"). The Certificates are being issued p ursuant to
Ordinance No _, duly adopted by the City Council of the City (the "Corporate Authorities")
on the 26th day of August, 2003 (the "Certificate Ordinance"), and will be general obligation
' debt certificates payable from lawfully available and appropriated funds of the City.
' The proceeds of the Certificates will be used to finance certain sewer improvements in
and for the City.
' It is my opinion that the Certificate Ordinance is in full force and effect, has not been
revoked, rescinded or amended and was adopted in compliance with the applicable provisions of'
the Illinois Municipal Code, as amended, the Open Meetings Act of the State of Illinois, as
amended, the Local Government Debt Reform Act of the State of Illinois, as amended, the
ordinances and resolptions of the City and the rules, regulations and proceedings of the
Corporate Authorities.
' The City has no procedural ordinance, resolution, rule, bylaw, custom or standing order,
whether incorporated into the City Code or otherwise, which alters or amends the provisions of
' the Illinois Municipal Code, as amended, insofar as such pertain to any of the following: (a) the
' calling and holding of special meetings of the Corporate'Authorities; (b) the introduction and
adoption of ordinances or resolutions; or(c) the issuance of debt of the City of the type as are the
Certificates.
' To the best of my knowledge and belief there is no litigation or controversy pending or
threatened questioning or affecting the Certificate Ordinance, the Certificates, the Project, the
power of the City to construct the Project, to issue the Certificates, the proceedings incident to
the Certificates or the construction of the Project, or the is e;,sale or validity of the Certificates.
f
' Attorney for the t-i=is ity of Yorkville,
Kendall County, _
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CERTIFICATE OF CERTIFICATE REGISTRAR
' We, the undersigned, do hereby certify that we are officers of U.S. Bank National
Association, St. Louis, Missouri (the "Certificate Registrar"), and as such officers we do further
certify as follows:
1. That the Certificate Registrar has been appointed certificate registrar for$2,035,000
' Debt Certificates, Series 2003A, dated September 1, 2003 (the "Certificates"), of the United
City of Yorkville, Illinois (the "City"), pursuant to an ordinance adopted by the City Council of
the City on the 26th day of August, 2003 (the "Certificate Ordinance").
2. That the Certificate Registrar has heretofore and does hereby accept the duties as
bond registrar so imposed by the Certificate Ordinance.
' 3. That pursuant to proper authorization and direction from the City dated as of the
date hereof, the Certificate Registrar has authenticated and delivered Certificates in the amount
of$2,035,000 to the purchaser thereof, namely, the Illinois Rural Bond Bank.
4. That each of the persons named below is an authorized agent of the Certificate
Registrar; one or more of such persons, in accordance with the provisions of the Certificate
Ordinance, are duly authorized and empowered to authenticate and did authenticate on the date
N hereof the Certificates issued under the Certificate Ordinance; and the signature appearing after
the name of each such person as follows is a true and correct specimen of each such person's
genuine signature:
' NAME OFFICE SIGNATURE
.BRIAN. J. KABBES Vice President
5. That the Certificate Registrar has full power and authority under the applicable laws
of the United States of America and the States of Illinois and Missouri to act as bond registrar for
the Certificates in the manner contemplated by the Certificate Ordinance; it has taken all
necessary corporate action by its properly authorized officers, employees or agents to accept said
' offices and duties; and the undersigned are duly qualified and acting officers of the Certificate
Registrar as indicated by the titles set under their names and are authorized by the Certificate
Registrar to execute and attest this Certificate.
6. That the Certificate Registrar acknowledges receipt of a certified copy of the
Certificate Ordinance.
IN WITNESS WHEREOF, we hereunto affix our signatures and the seal of the Certificate
Registrar, this 24th day of September, 2003.
' U.S. BANK NATIONAL ASSOCIATION
ST. LOUIS, MISSOURI
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' Its
Attest:,
It 7': LIL« �
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(SEAL OF CERTIFICATE REGISTRAR) SG
No
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REGISTERED
No. I REGISTERED
UNITED,SPATES OF AMERICA $80,000
STATE OF ILLINOIS
COUNTY OF KENDALL
UNITED CITY OF YORKVILLE
DEBT CERTIFICATE,SERIES 2003A
' See Reverse Side for
Additional Provisions.
Interest Maturity
Rate: 1.60% Dated Date: February 1,2005 Date: September 1,2003
REGISTERED OWNER: U.S.BANK NATIONAL ASSOCIATION,AS TRUSTEE FOR THE ILLINOIS RURAL BOND BANK
PRINCIPAL AMOUNT: EIGHTY THOUSAND DOLLARS
' KNOW ALL PERSONS BY THESE PRESENTS that the United City of Yorkville,Kendall County,Illinois,a municipality and political subdivision of the
State of Illinois(the "City"),hereby acknowledges itself to owe and for value received promises to pay from the source and as hereinafter provided to the
Registered Owner identified above,or registered assigns,on the Maturity Date identified above,the Principal Amount identified above and to pay interest
(computed on the basis of a 360-day year of twelve 30-day months)on such Principal Amount from the later of the Dated Date of this Certificate identified
' above or from the most recent interest payment date to which interest has been p!1AAduly provided for,at the Interest Rate per annum identified above,
such interest to be payable on February 1 and August I of each year,commen ' ary 1,2004,until said Principal Amount is paid or duly provided
for. The principal of this Certificate is payable in lawful money of the Un' merica upon presentation hereof at the office maintained for such
purpose of U.S.Bank National Association,St.Louis,Missouri,as a d registrar(the "Certificate Registrar"). Payment of interest shall be
made to the Registered Owner hereof as shown on the registration Pity maintained by the Certificate Registrar at the close of business on the
applicable Record Date(the"Record Date"), The Record Da 15th day preceding any regular interest payment date and the 15th day preceding
any interest payment date occasioned re the redemption lawful n other than an interest payment date. Interest shall be paid by check or draft of the
Certificate Registrar,payable upon presentation in lawful m the United States of America,mailed to the address of such Registered Owner as it
appears on such registration books or at such other address furnished in writing by such Registered Owner to the Certificate Registrar.
Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, and such further provisions shall for all
purposes have the same effect as if set forth at this place.
It is hereby certified and recited that all conditions,acts,and things required by the Constitution and Laws of the State of Illinois to exist or to be
done precedent to and in the issuance of this Certificate,including Applicable Law as defined herein,have existed and have been properly done,happened,
and been performed in regular and due form and time as required by law;that the obligation to make payments due hereon are a lawful direct general
obligation of the City payable from the corporate funds of the City and such other sources of payment as are otherwise lawfully available;that the total
amount due under the Agreement,represented by the Certificates,together with all other indebtedness of the City,is within all statutory and constitutional
debt limitations;and that the City shall appropriate funds annually and in a timely manner so as to provide for the making of all payments hereon when due.
THE OWNER OF THIS CERTIFICATE ACKNOWLEDGES THAT THERE IS NO STATUTORY AUTHORITY FOR THE LEVY OF A SEPARATE TAX IN ADDITION TO OTHER TAXES OF THE
CITY OR THE LEVY OF A SPECIAL TAX UNLIMITED AS TO RATE OR AMOUNT TO PAY ANY OF THE AMOUNTS DUE HEREUNDER,
This Certificate shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been signed by the
Certificate Registrar.
IN WITNESS WHEREOF,the United City of Yorkville,Kendall County,Illinois,by its City Council,has caused this Certificate to be signed by the
manual or duly authorized facsimile signature of the Mayor on behalf of the City and the City Clerk and its corporate seal or a facsimile thereof to be
impressed or reproduced hereon,all as appearing hereon and as of the Dated Date%ti
fi ed above.
Mayor,United City kofYordk-v ille
' ATTEST: v Kendall County,Illinois
c4,
City Clerk,United City of Yorkville
Kendall County,Illinois a a7i 1It r i'
F
' [SEAL]
Date of Authentication: ,20_
CERTIFICATE Certificate Registrar and Paying Agent:
OF U.S.Bank National Association,
AUTHENTICATION St.Louis,Missouri
This Certificate is one of the Certificates described in the
within-mentioned Ordinance and is one of the Debt Certificates,
' Series 2003A,having a Dated Date of September 1, 2003, of the
United City of Yorkville,Kendall County,Illinois.
U.S.BANK NATIONAL ASSOCIATION,
as Certificate Registrar
,y
Authorized Officer
This Certificate is one of a series(the "Certificates")in the aggregate principal amount of$2,035,000 issued by the City for the purpose of
providing funds to pay part of the cost of the Project and Related Expenses,all as described and defined in the ordinance authorizing the Certificates(the
"Ordinance"),pursuant to and in all respects in compliance with the applicable provisions of the Illinois Municipal Code,as supplemented and amended,
and in particular as supplemented by the Local Government Debt Reform Act of the State of Illinois,as amended,and the other Omnibus Bond Acts of the
State of Illinois("Applicable Law'),and with the Ordinance,which has been duly passed by the City Council of the City on the 26th day of August,2003,
' and approved by the Mayor,in all respects as by law required. The Certificates issued by the City in connection with the Project have been issued in
evidence of the indebtedness incurred pursuant to a certain Installment Purchase Agreement(the"Agreement"),dated as of the 1st day of September,2003,
entered into by and between the City and its City Treasurer,as Seller-Nominee,to which reference is hereby expressly made for further definitions and terms
and to all the provisions of which the holder by the acceptance of this certificate assents.
This Certificate is subject to provisions relating to registration,transfer,and exchange;and such other terms and provisions relating to security
and payment as are set forth in the Ordinance;to which reference is hereby expressly made;and to all the terms of which the registered owner hereof is
hereby notified and shall be subject.
The Certificates due February 1,2014,and thereafter are subject to redemption ppior to maturity at the option of the City,from any available
funds,in whole or in part on any interest payment date on or after February 1,2013,and' art,in inverse order of maturity,and if less than an entire
' maturity,in integral multiples of$5,000,selected by lot by the Certificate Registrar*asl provided,at the redemption price of the principal amount
being redeemed plus accrued interest to the date fixed for redemption.Unless waived by the Registered Owner of Certificates to be redee Memed f any such redemption shall be given by the Certificate Registrar
on behalf of the City by mailing the redemption notice by registered or ce of less than 45 days and not more than 60 days prior to the date fixed
for redemption to each Registered Owner of the Certificate or Certifi at the address shown on the Certificate Register or at such other
' address as is furnished in writing by such Registered Owner to the egistrar. Neither the failure to mail such redemption notice,nor any defect in
any notice so mailed,to any particular Registered Owner of a Certifi all affect the sufficiency of such notice with respect to other Registered Owners.
Notice having been properly given,failure of a Registered Owner of a ertificate to receive such notice shall not be deemed to invalidate,limit or delay the
effect of the notice or redemption action described in the notice. Such notice may be waived in writing by a Registered Owner of a Certificate entitled to
receive such notice,either before or after the event,and such waiver shall be the equivalent of such notice. Notice of redemption having been given as
aforesaid,the Certificates or portions of Certificates so to be redeemed shall,on the redemption date,become due and payable at the redemption price
therein specified, and from and after such date(unless the City shall default in the payment of the redemption price) such Certificates or portions of
Certificates shall cease to bear interest. Upon surrender of such Certificates for redemption in accordance with said notice,such Certificates shall be paid by
the Certificate Registrar at the redemption price. The procedure for the payment of interest due as part of the redemption price shall be as herein provided
' for payment of interest otherwise due. Upon surrender for any partial redemption of any Certificate,there shall be prepared for the Registered Owner a new
Certificate or Certificates of like tenor,of authorized denominations,of the same maturity,and bearing the same rate of interest in the amount of the unpaid
principal.
The City and the Certificate Registrar may deem and treat the Registered Owner hereof as the absolute owner hereof for the purpose of receiving
payment of or on account of principal hereof and interest due hereon and for all other purposes,and neither the City nor the Certificate Registrar shall be
' affected by any notice to the contrary.
ASSIGNMENT
FOR VALUE RECEIVED,the undersigned sells,assigns and transfers unto
[Here insert identifying number such as
TID,SSN,or other]
(Name and Address of Assignee)
the within Certificate and does hereby irrevocably constitute and appoint
as attorney to transfer the said Certificate on the books kept for registration thereof with full power of substitution in the premises.
Dated:
Signature guaranteed:
NOTICE: The signature to this assignment must correspond with the name of the Registered Owner as it appears upon the face of the within Certificate in
every particular,without alteration or enlargement or any change whatever.
t
STATE OF ILLINOIS )
SS
COUNTY OF KENDALL )
CERTIFICATE ORDER
TO: THE CITY COUNCIL OF THE UNITED CITY OF YORKVILLE,
KENDALL COUNTY, ILLINOIS(THE "CITY"):
We are pleased to advise you as follows:
A. Sale. We are executing this Certificate Order pursuant to the authority contained in
an ordinance adopted on August 26, 2003, by the City Council of the City (the "Certificate
Ordinance") (terms used herein shall have the meanings given to them in the Certificate
Ordinance unless otherwise defined herein), and being entitled:
AN ORDINANCE of the United City of Yorkville, Kendall County,
Illinois, authorizing and providing for an Installment Purchase
Agreement for the purpose of paying the cost of acquiring and
installing sewer improvements within the City (Bruell Street Sewer
Project), and authorizing and providing for the issue of$2,035,000
Debt Certificates, Series 2003A, evidencing the rights to payment
under such Agreement, prescribing the details of the Agreement
and Certificates, and providing for the security for and means of
payment under the Agreement of the Certificates.
A contract for the purchase of the Certificates to the amount of$2,035,000 has been awarded by
us, as the Designated Officers under the Certificate Ordinance, to the Illinois Rural Bond Bank,
Springfield, Illinois (the "Purchaser"), at a price of$2,002,440, plus accrued interest to the date
of delivery of the Certificates. This Certificate Order shall be entered into the records of the City
and made available to the City Council at the next regularly scheduled meeting thereof.
1550010.01.07
2110781•KK•9/5/03
B. Terms. The
terms of the Certificates are fair and reasonable in view of current
conditions in the certificate market. The Certificates shall be dated September 1, 2003 and shall
be due serially on February 1 of the years, in the amounts and bearing interest as follows:
YEAR OF MATURITY PRINCIPAL AMOUNT RATE OF INTEREST
2005 $80,000 1.60%
2006 80,000 2.05%
2007 80,000 2.50%
2008 80,000 2.90%
2009 85,000 3.25%
2010 85,000 3.60%
2011 90,000 3.90%
2012 95,000 4.10%
2013 100,000 4.20%
2014 100,000 4.40%
2015 105,000 4.55%
2016 110,000 4.65%
2017 115,000 4.75%
2018 120,000 5.05%
2019 130,000 5.05%
2020 135,000 5.05%
2021 140,000 5.10%
2022 150,000 5.10%
2023 155,000 5.20%
We hereby expressly find and determine that no Certificate bears interest at a rate in excess of
eight and seventy-five hundredths percent (8.75%) per annum as required under the Certificate
Ordinance.
Interest on the Certificates shall be payable on February 1 and August 1 commencing
February 1, 2004, principal on the Certificates shall be payable on February 1 commencing
February 1, 2005, and shall be paid as set forth in the Certificate Ordinance, except that, during
any period that the Purchaser, or U.S. Bank National Association, St. Louis, Missouri (the
"Paying Agent"), as trustee for the Purchaser, is the registered owner of all or any part of the
Certificates outstanding, immediately available funds for each of the principal of, premium, if
any, and interest on the Certificates shall be available at the principal corporate trust office of the
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Paying Agent not later than five (5) days prior to each such principal, premium, if any, and
interest payment date.
C. Redemption. The Certificates due February 1, 2014, and thereafter are subject to
redemption prior to maturity at the option of the City, from any available funds, in whole or in
part on any interest payment date on or after February 1, 2013 at the redemption price of par plus
accrued interest to the redemption date.
D. No Conflicts. Please be further advised that we hereby affirm that no person
holding any office of the City either by election or appointment, is in any manner financially
interested, either directly in his or her own name or indirectly in the name of any other person,
associate, trust or corporation, in the certificate purchase contract with the Purchaser.
IN WITNESS WHEREOF, we have hereunto affixed our official signatures and the
corporate seal of the City this 4th day of September, 2003.
Mayor
�' le
City Treasurer
[SEAL]
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ACKNOWLEDGMENT OF FILING
Filed in the office of the City Clerk of the City of Yorkville, Kendall County, Illinois this
4th day of September, 2003.
le
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STATE OF ILLINOIS )
SS
COUNTY OF KENDALL )
AVAILABILITY OF CERTIFICATE ORDER
I, the undersigned, do hereby certify that I am the duly qualified and acting City Clerk of
the United City of Yorkville, Kendall County, Illinois (the "City"), and as such official I am the
keeper of the official journal of proceedings, books, records, minutes and files of the City
Council of the City thereof(the "City Council").
I do further certify that I made or will make available to all members of the City Council
a Certificate Order, as such term is defined in an ordinance entitled:
AN ORDINANCE of the United City of Yorkville, Kendall County,
Illinois, authorizing and providing for an Installment Purchase
Agreement for the purpose of paying the cost of acquiring and
Linstalling sewer improvements within the City (Bruell Street Sewer
Project), and authorizing and providing for the issue of$2,035,000
Debt Certificates, Series 2003A, evidencing the rights to payment
10 under such Agreement, prescribing the details of the Agreement
and Certificates, and providing for the security for and means of
payment under the Agreement of the Certificates.
at the public meeting of the City Council held on the c')-L_ day o , 2003, being the
first regularly scheduled meeting of the City Council following the execution of the Certificate
Order. I do further certify that the Certificate Order is responsive to such ordinance and that a
true, correct and complete copy of the Certificate Order as provided at said meeting is attached
hereto.
IN WITNESS WHEREOF I hereunto affix my official signature and the seal of the City this
4th day of September, 2003.
[SEAL]
yC
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