Resolution 2011-19 Resolution No. 2011-4
A RESOLUTION AUTHORIZING THE TRANSFER OF ESCROW FUNDS OF
THE SPECIAL SERVICE AREA PAYMENT FOR 164-B BERTRAM DRIVE,
THE RAINTREE PARK IMPROVEMENTS AND THE YORKVILLE BUSINESS
CENTER WATERMAIN IMPROVEMENTS TO A NEW ESCROW ACCOUNT
WITH THE ILLINOIS METROPOLITAN FUND
Whereas, the City of Yorkville received certain prepayments of funds that are
required not to be commingled with City funds but to be placed into a separate escrow
account; and,
Whereas, the City Council approved Resolution No. 2009-43 on October 13,
2009 that created an escrow account for the prepaid special service area funds for 164-B
Bertram Drive; and,
Whereas, the City Council approved Resolution No. 2010-1 on January 12, 2010
that created an escrow account for the prepayment of funds for the future Raintree Park
Improvements; and,
Whereas, the City Council approved Resolution No. 2010-17 on July 27, 2010
that created an escrow account for the prepayment of funds for the future installation of a
watermain for the Yorkville Business Center; and,
Whereas, the City Administrator has requested that the above escrow accounts be
transferred to a new escrow account with the Illinois Metropolitan Fund.
NOW, THEREFORE, BE IT RESOLVED, by the 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 funds
from existing bank escrow accounts for the prepayments of special service area funds for
164-B Bertram Drive, the Raintree Park Improvement funds and the watermain
installation funds for the Yorkville Business Center into a new single 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. That Resolution No. 2009-43, Resolution No. 2010-01 and Resolution
No. 2010-17 be and are hereby repealed.
Section 4. This Resolution shall be in full force and effect upon its passage and
approval as provided by law.
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Passed by the City Council of the Unite City of Yorkville, Kendall County,
Illinois this day of , A.D. 1 1.
CITY CLERK
MARTY MUNNS DIANE TEELING
�l
GEORGE GILSON JR. CARLO COLOSIMO
JACKIE MILSCHEWSKI Y ROSE ANN SPEARS
CHRIS FUNKHOUSER LARRY KOT y
Approved by me, as Mayor of the United City of Yorkville, Kendall County,
Illinois, this day of ALk 2011.
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