Resolution 2014-15 RESOLUTION NO. 2014-L✓_"
A RESOLUTION OF THE UNITED CITY OF YORKVILLE, KENDALL COUNTY,
ILLINOIS AUTHORIZING THE TRANSFER OF THE PROCEEDS OF THE
$4,850,000 GENERAL OBLIGATION (ALTERNATE REVENUE SOURCE) BONDS,
SERIES 2014A TO A NEW ESCROW ACCOUNT WITH THE
ILLINOIS METROPOLITAN FUND
WHEREAS, the United City of Yorkville, Kendall County, Illinois (the "City") is a non-
home rule municipality pursuant to the Illinois Constitution of 1970 and the laws of this state;
and
WHEREAS, the City shall receive certain bond proceeds from the issuance of
$4,850,000 General Obligation (Alternate Revenue Source) Bonds Series 2014A (the "Bonds")
to be used to finance certain roadway improvements after payment of the costs of issuance of the
Bonds, which funds should not be comingled with other City funds but placed into a separate
escrow account; and
WHEREAS, the City Administrator has requested that said proceeds from the Bonds
after payment of the costs of issuance be transferred to a new escrow account with the Illinois
Metropolitan Fund to prevent any comingling with other City funds.
NOW THEREFORE BE IT RESOLVED, by the Mayor and City Council of the
United City of Yorkville, Kendall County, Illinois, as follows:
Section 1: That the City'Administrator is hereby authorized to transfer the proceeds from
the issuance of the Bonds after payment of the costs of issuance for the Bonds to a new escrow
account with the Illinois Metropolitan Fund.
Section 2: That the authorized signatories for the above escrow account shall be the
Mayor, City Treasurer, City Administrator and Finance Director and that two (2) signatories
shall be required to approve and sign each check for withdrawal from the escrow account.
Section 3: This Resolution shall be in full force and effect upon its passage and approval
as provided by law.
Passed by th City Council of the United City of Yorkville, Kendall County, Illinois this
day of , A.D. 2014.
CITY`CLERK
Resolution No. 2014-15
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CARLO COLOSIMO KEN KOCH
JACKIE MILSCHEWSKI LARRY KOT
CHRIS FUNKHOUSER JOEL FRIEDERS
ROSE ANN SPEARS DIANE TEELING ---�
Approved by me, as Mayor of the United City of Yorkville, Kendall County, Illinois, this
Iq day of 3ULy , A.D. 2014.
MAY R
Resolution No. 201445
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