Resolution 2023-10EXTRACT OF MINUTES of a regular public meeting of the City
Council of the United City of Yorkville, Kendall County, Illinois, held
in the City Hall, 800 Game Farm Road, Yorkville, Illinois, at 7:00
o'clock P.M., on the 25th day of April, 2023.
The Mayor called the meeting to order and directed the City Clerk to call the roll.
Upon the roll being called, John Purcell, the Mayor, and the following Aldermen were
physically present at said location:
Koch, Transier, Plocher, Soling, Funkhouser, Marek, Tarulis, Corneils
The following Aldermen were allowed by a majority of the Aldermen of the City Council
in accordance with and to the extent allowed by the laws of the State of Illinois and the rules
adopted by the City Council to attend the meeting by video or audio conference: Not Applicable.
No Alderman was not permitted to attend the meeting by video or audio conference.
The following Aldermen were absent and did not participate in the meeting in any manner
or to any extent whatsoever: None.
The Mayor announced that the City has developed a list of capital projects for which it
reasonably expects to reimburse itself for the expenditures related thereto with the proceeds of its
water revenue and/or general obligation alternate revenue bonds and that the City Council would
consider the adoption of a resolution expressing its official intent to reimburse such expenditures
with the issuance of its water revenue and/or general obligation alternate revenue bonds.
Whereupon Mayor Purcell presented and read by title a resolution as follows, a copy of
which was provided to each Alderman prior to said meeting and to everyone in attendance at said
meeting who requested a copy:
Resolution 2023-10
A RESOLUTION expressing official intent regarding certain capital
expenditures to be reimbursed from proceeds of water revenue
and/or general obligation alternate revenue bonds to be issued by the
United City of Yorkville, Kendall County, Illinois.
WHEREAS, the United City of Yorkville, Kendall County, Illinois (the "City "), is a duly
organized and existing municipality incorporated and existing under the provisions of the laws of
the State of Illinois, and is now operating under the provisions of Illinois Municipal Code, as
amended, and all laws amendatory thereof and supplementary thereto, including without limitation
the Local Government Debt Reform Act of the State of Illinois, as amended; and
WHEREAS, the City Council of the City (the "City Council') has developed a list of
capital projects with respect to the enhancement of its water delivery system (the "Project"); and
WHEREAS, all or a portion of the expenditures relating to the Project (the
"Expenditures") (i) have been paid within the sixty (60) days prior to the passage of this
Resolution, or (ii) will be paid on or after the passage of this Resolution; and
WHEREAS, the City reasonably expects to reimburse itself for the Expenditures with the
proceeds of its water revenue and/or general obligation alternate revenue bonds.
NOW, THEREFORE, Be It and It Is Hereby Resolved by the City Council of the United
City of Yorkville, Kendall County, Illinois, as follows:
Section 1. Incorporation of Preambles. The City Council hereby finds that all of the
recitals contained in the preambles to this Resolution are full, true and correct and does incorporate
them into this Resolution by this reference.
Section 2. Intent to Reimburse. The City reasonably expects to reimburse the
Expenditures with the proceeds of an obligation in the form of its water revenue and/or general
obligation alternate revenue bonds (in any event, the "Bonds"). All original Expenditures to be
reimbursed will be capital expenditures (as defined in Treas. Reg. Sec. 1.150-1(b)) and other
amounts permitted to be reimbursed pursuant to Treas. Reg. Sec. 1.150-2(d)(3) and (f). The
description of the type and use of the property for which the original Expenditures to be fully or
partially reimbursed is to be paid are the costs relating to the Project as defined in the recitals to
this Resolution.
Section 3. Maximum Amount. The maximum aggregate principal amount of the
Bonds expected to be issued to reimburse the costs of the Project paid prior to their issuance and
to complete the Project is $10,000,000, not including the costs of issuance of the Bonds.
Section 4. Ratification. All actions of the officers, agents and employees of the City
that are in conformity with the purposes and intent of this Resolution, whether taken before or after
the adoption thereof, are hereby ratified, confirmed and approved.
Section 5. Authorization. This Resolution is made pursuant to Treasury Regulations
Section 1.150-2. The City intends this Resolution to satisfy the requirements of the Internal
Revenue Code of 1986, as amended and the regulations promulgated thereunder, and specifically
Treasury Regulation Section 1.150-2(d), regarding the declaration by the City of its official intent
to issue its Bonds for the purpose of reimbursing original expenditures (as that term is defined in
Treasury Regulation Section 1.150-2(c)) incurred with respect to the Project within 60 days
preceding the adoption of this Resolution.
Section 6. Severability. If any section, paragraph, clause or provision of this Resolution
shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of
such section, paragraph, clause or provision shall not affect any of the remaining provisions of this
Resolution.
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Section 7. Repeal. All resolutions and parts of resolutions in conflict herewith be and
the same are hereby repealed and that this Resolution be in full force and effect forthwith upon its
adoption.
Adopted April 25, 2023.
Alderman Tarulis moved and Alderman Tansier seconded the motion that said resolution
as presented and read by title be adopted.
After a full and complete discussion thereof, the Mayor directed the City Clerk to call the
roll for a vote upon the motion to adopt said resolution.
Upon the roll being called, the following Aldermen voted AYE: Transier, Soling, Marek,
Corneils, Koch, Plocher, Funkhouser, and Tarulis.
The following Aldermen voted NAY: None.
Whereupon the Mayor declared the motion carried and said resolution adopted, and in open
meeting approved and signed said resolution and directed 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, which
was done.
Other business not pertinent to the adoption of said resolution was duly transacted at said
meeting.
Upon motion duly made, seconded and carried, the meeting was adjourned.
I
City Clerk
STATE OF ILLINOIS )
) SS
COUNTY OF COOK )
CERTIFICATION OF MINUTES AND RESOLUTION
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 that as such official I am
the keeper of the records and files of the City and of the City Council thereof (the "City Council').
I do further certify that the foregoing constitutes a full, true and complete transcript of the
minutes of the meeting of the City Council held on the 251h day of April, 2023, insofar as same
relates to the adoption of a resolution entitled:
A RESOLUTION expressing official intent regarding certain capital
expenditures to be reimbursed from proceeds of water revenue
and/or general obligation alternate revenue bonds to be issued by the
United City of Yorkville, Kendall County, Illinois.
a true, correct and complete copy of which said resolution as adopted at said meeting appears in
the foregoing transcript of the minutes of said meeting.
1 do further certify that the deliberations of the City Council on the adoption of said
resolution were conducted openly, that the vote on the adoption of said resolution was taken
openly, that said meeting was held at a specified time and place convenient to the public, that
notice of said meeting was duly given to all of the news media requesting such notice, that an
agenda for said meeting was posted at the location where said meeting was held and at the principal
office of the City Council at least 96 hours in advance of the holding of said meeting and on a day
that was not a Saturday, Sunday or legal holiday in the State of Illinois, that a true, correct and
complete copy of said agenda as so posted is attached hereto as Exhibit A, that said meeting 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 City Council has
complied with all of the provisions of said Acts and with all of the procedural rules of the City
Council in the conduct of said meeting and in the adoption of said resolution.
IN WITNESS WHEREOF, I hereunto affix my official signature, this 251h day of April, 2023.
City Cler