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Resolution 2024-16 UNITED CITY OF YORKVILLE KENDALL COUNTY, ILLINOIS RESOLUTION NO. 2024-16 A RESOLUTION expressing official intent regarding certain capital expenditure 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 Adopted by the City Council on the 26"' day of March, 2024 EXTRACT 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, 651 Prairie Pointe Drive, Yorkville, Illinois, at 7:00 o'clock P.M., on the 261h day of March, 2024. 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, and 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: None. 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: 51947501.1 Resolution No. 2024-16 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 "System"), including, without limitation, replacing existing water mains, modifying the existing raw water main and water treatment plant and other capital improvements relating to the System, and for the construction of a new water supply line and connection to the DuPage Water Commission for a new source of water(collectively, 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 $25,000,000, 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. 2 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. 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 March 26, 2024. Mayor City Clerk 3 Alderman Funkhouser moved and Alderman Corneils 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: Tarulis, Transier, Soling, Marek, Corneils, Koch, Plocher, and Funkhouser. 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. �Z," &Mzom; City Clerk STATE OF ILLINOIS ) ) SS COUNTY OF KENDALL ) 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 26r" day of March, 2024, 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. I 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 261h day of March, 2024. City Clerk