Ordinance 2008-125 STATE OF ILLINOIS
COUNTY OF KENDALL
FILED -
DEC 2 3 1006
COUNTY. ENDALL CLERK
�(ENDALL f:OUNTIf
ORDINANCE NUMBER C9 009- 06
AN ORDINANCE authorizing and providing for the issue of
$2,020,000 General Obligation Refunding Bonds (Alternate
Revenue Source), Series 2008, of the United City of Yorkville,
Kendall County, Illinois, for the purpose of refunding a portion of
the City's General Obligation Bonds (Alternate Revenue Source),
Series 2005D, prescribing all the details of said bonds, and
providing for the collection and segregation of revenues sufficient
to pay such bonds.
Adopted by the City Council of said City
on the 22nd day of December, 2008.
TABLE OF CONTENTS
SECTION HEADING PAGE
Preambles..................................................................................................... ..............................1
Section 1. Definitions ...................
Section 2. Incorporation of Preambles; Acceptance of Report .............................9
Section 3. Determination to Issue Bonds ............................... ..............................9
Section 4. Determination of Useful Life ................................ ..............................9
Section 5. Bond Details ......................................................... ..............................9
Section 6. Registration of Bonds; Persons Treated -as Owners ...........................11
Section7. Redemption ............:............................................ .............................13
Section 8. Redemption Procedure ......................................... .............................14
Section 9. Form of Bond ...................................................... .............................16
Section 10. Treatment of Bonds as Debt ................................. .............................27
Section 11. Creation of Rob Roy Creek Revenue Fund .......... .............................27
Section 12. Flow of Funds ...................................................... .............................28
Section 13. Account Excesses ................................................ .............................30
Section 14. Sale of Bonds ...................................................... .............................30
Section 15. Pledged Taxes; Tax Levy ..................................... .............................31
Section 16. Filing with County Clerk ..................................... .............................32
Section 17. Abatement of Pledged Taxes 33
Section 18. Pledged Revenues; General Covenants ................ .............................33
Section 19. Additional Bonds and Subordinate Bonds ............ .............................36
Section 20. Bonds No Longer Outstanding ............................. .............................36
Section 21. Provisions a Contract ........................................... .............................36
Section 22. Use of Proceeds ................................................... .............................37
Section 23. Call of the Refunded Bonds ................................. .............................37
Section 24. General Tax Covenants ........................................ .............................38
Section 25. Registered Form .................................................. .............................38
Section 26. Bank Qualification ............................................... .............................39
Section 27. Pertaining to the Bond Registrar .......................... .............................39
Section 28. Defeasance .......................................................... .............................41
Section 29. Superseder and Effective Date ............................. .............................41
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ORDINANCE No.
AN ORDINANCE authorizing and providing for the issue of
$2,020,000 General Obligation Refunding Bonds (Alternate
Revenue Source), Series 2008, of the United City of Yorkville,
Kendall County, Illinois, for the purpose of refunding a portion of
the City's General Obligation Bonds (Alternate Revenue Source),
Series 2005D, prescribing all the details of said bonds, and
providing for the collection and segregation of revenues sufficient
to pay such bonds.
WHEREAS, the United City of Yorkville, Kendall County, Illinois (the "City "), is a duly
organized and existing municipality created under the provisions of the laws of the State of
Illinois, is now operating under the provisions of the Illinois Municipal Code, as supplemented
and amended (the "Municipal Code "), and has owned and operated a combined waterworks and
sewerage system (the "System ") in accordance with the provisions of Division 139 of Article 1 l
of the Municipal Code; and
WHEREAS, the City Council of the City (the "Corporate Authorities ") has determined
that it is advisable, necessary and in the best interests of the City to refund the sinking fund
payments due on December 30, 2009 and December 30, 2010, of the City's outstanding General
Obligation Bonds (Alternate Revenue Source), Series 2005D (the "Refunded Bonds "); and
WHEREAS, the Refunded Bonds are presently outstanding and unpaid and are binding and
subsisting legal obligations of the City; and
WHEREAS, the cost of refunding the Refunded Bonds (the "Refunding ") including legal,
financial, bond discount, placement fee, printing and publication costs and other expenses is an
amount not to exceed $2,020,000 and there are insufficient funds on hand and lawfully available
to pay such costs; and
WHEREAS, pursuant to and in accordance with the provisions of the Municipal Code, the
City is authorized to issue (without either a front -door or back -door referendum) its waterworks
I
and sewerage revenue bonds for the purpose of providing funds to pay the costs of the Refunding
(the "Revenue Bonds "); and
WHEREAS, as provided in Section 15 of the Local Government Debt Reform Act of the
State of Illinois, as supplemented and amended (the "Act "), whenever revenue bonds have been
authorized to be issued pursuant to the Municipal Code, the City may issue its general obligation
bonds in lieu of such revenue bonds as authorized, and such general obligation bonds may be
referred to as "alternate bonds "; and
WHEREAS, for the purpose of providing funds to pay the costs of the Refunding and in
accordance with the provisions of the Act, the Corporate Authorities, on the 10th day of
November, 2008, adopted Ordinance No. 2008-98 (the "Authorizing Ordinance "), authorizing
the issuance of General Obligation Bonds (Alternate Revenue Source) (the "Alternate Bonds "),
as provided in the Act, in an aggregate principal amount not to exceed $2,500,000; and
WHEREAS, on the 20th day of November, 2008, the Authorizing Ordinance, together with
a separate notice in statutory form, was published in the Kendall County Record, the same being
a newspaper of general circulation in the City, and an affidavit evidencing the publication of the
Authorizing Ordinance and said notice have heretofore been presented to the Corporate
Authorities and made a part of the permanent records of the City; and
WHEREAS, more than thirty (30) days have expired since the date of publication of the
Authorizing Ordinance and said notice, and no petitions with the requisite number of valid
signatures thereon have been filed with the City Clerk requesting that the question of the
issuance of the Alternate Bonds be submitted to referendum; and
WHEREAS, the Refunding constitutes a lawful corporate purpose within the meaning of
the Act; and
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WHEREAS, the Corporate Authorities are now authorized to issue the Revenue Bonds to
the amount of $2,500,000, or, in lieu thereof, the Alternate Bonds to the amount of $2,500,000 in
accordance with the provisions of the Act, and the Corporate Authorities hereby determine that it
is necessary and desirable that there be issued at this time not to exceed $2,020,000 of the
Alternate Bonds so authorized; and
WHEREAS, the Alternate Bonds to be issued will be payable from the Pledged Revenues
and the Pledged Taxes, both as hereinafter defined; and
WHEREAS, pursuant to Section 19 of Ordinance Number 2004 -10 (the "2004B
Ordinance ") of the City pursuant to which $3,500,000 of General Obligation Bonds (Alternate
Revenue Source) Series 2004B, were issued and pursuant to Section 19 of Ordinance
Number 2005 -88 of the City pursuant to which the Refunded Bonds were issued (such
ordinance, namely, the "2005D Ordinance," together with the 2004B Ordinance, hereinafter
referred to as the "Prior Ordinances "), the City reserved the right to issue bonds payable from
Revenues (as defined in the Prior Ordinances) which bonds would have a lien on the Revenues
prior to the lien on the Revenues securing Outstanding Bonds (as defined in the Prior
Ordinances), provided that upon the issuance of such bonds, the City shall demonstrate, in the
manner provided in the Act, that all Outstanding Bonds could then be issued as if not previously
issued, that is the requirement of the Act for the issuance of alternate bonds payable from the
Revenues shall have been met on such date for the issuance of all Outstanding Bonds; and
WHEREAS, pursuant to the Act and the Prior Ordinances the Corporate Authorities must
determine that the Revenues (as defined in the Prior Ordinances) will be sufficient to provide or
pay in each year to final maturity of the Alternate Bonds and all Outstanding Bonds (as defined
in the Prior Ordinances) all of the following: (1) Operation and Maintenance Expenses (as
defined in the Prior Ordinances), but not including depreciation, (2) debt service on all
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outstanding revenue bonds payable from the Revenues as defined in the Prior Ordinances, (3) all
amounts required to meet any fund or account requirements with respect to such outstanding
revenue bonds, (4) other contractual or tort liability obligations, if any, payable from the
Revenues, and (5) in each year, an amount not less than 1.25 times debt service of the Alternate
Bonds proposed to be issued, and all Outstanding Bonds (as defined in the Prior Ordinances);
and
WHEREAS, such determination of the sufficiency of the Revenues is supported by
reference to the report dated the date hereof (the "Report "), of Speer Financial, Inc., Chicago,
Illinois ( "Speer "), which Report has been presented to and accepted by the Corporate
Authorities and is now on file with the City Clerk; and
WHEREAS, the Corporate Authorities must further determine that the Pledged Revenues
(as hereinafter defined) will be sufficient to provide or pay in each year to final maturity of the
Alternate Bonds all of the following: (1) Operation and Maintenance Expenses, if any to be paid
from Revenues, but not including depreciation, (2) debt service on all outstanding revenue bonds
payable from the Pledged Revenues (as hereinafter defined), (3) all amounts required to meet
any fund or account requirements with respect to such outstanding revenue bonds, (4) other
contractual or tort liability obligations, if any, payable from Pledged Revenues, and (5) in each
year an amount not less than 1.25 times debt service of the Alternate Bonds proposed to be
issued and all Outstanding Bonds payable from the Pledged Revenues; and
WHEREAS, such determination of the sufficiency of the Pledged Revenues is supported
by the Report; and
WHEREAS, the Property Tax Extension Limitation Law of the State of Illinois, as
amended by Public Act 89 -385 (the "Tax Limitation Law "), imposes certain limitations on the
"aggregate extension" of certain property taxes levied by the City, but provides that the
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definition of "aggregate extension" contained in Section 18 -185 of the Tax Limitation Law does
not include "extensions ... payments of principal and interest on bonds issued under Section 15
of the Local Government Debt Reform Act;" and
WHEREAS, the County Clerk of Kendall County, Illinois (the "County Clerk "), is
therefore authorized to extend and collect said direct annual ad valorem tax so levied for the
payment of the Alternate Bonds for the Refunding without limitation as to rate or amount;
Now, THEREFORE, BE IT ORDAINED by the City Council of the United City of Yorkville,
Kendall County, Illinois, as follows:
Section 1. Definitions. The following words and terms used in this Ordinance shall
have the following meanings unless the context or use clearly indicates another or different
meaning is intended:
"Act" means the Local Government Debt Reform Act of the State of Illinois, as
supplemented and amended.
"Additional Bonds" means any alternate bonds issued in the future in accordance with
the provisions of the Act on a parity with and sharing ratably and equally in the Pledged
Revenues with the Bonds.
"Bond" or "Bonds" means one or more, as applicable, of the General Obligation
Refunding Bonds (Alternate Revenue Source), Series 2008, authorized to be issued by this
Ordinance.
"Bond Fund" means the Rob Roy Creek Alternate Bond Fund (2008) established
hereunder and further described by Section 16 of this Ordinance.
"Bond Register" means the books of the City kept by the Bond Registrar to evidence the
registration and transfer of the Bonds.
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"Bond Registrar" means The Bank of New York Mellon Trust Company, National
Association, Chicago, Illinois, or any successor thereto or designated hereunder, in its capacity
as bond registrar hereunder.
"City" means the United City of Yorkville, Kendall County, Illinois.
"City Clerk" means the City Clerk of the City.
"Code" means the Internal Revenue Code of 1986, as amended.
"Corporate Authorities" means the City Council of the City.
"Expense Fund" means the fund established hereunder and further described by
Section 22 of this Ordinance.
"Fiscal Year" means a twelve -month period beginning May 1 of the calendar year and
ending on the next succeeding April 30.
"Future Bond Ordinances" has the meaning set forth in the Prior Ordinances.
"Infrastructure Participation Fees" means the "infrastructure participation fees" to be
collected by YBSD in accordance with the Intergovernmental Agreement and Section 1,
Paragraph 5 of the YBSD Sewer Use Ordinance.
"Intergovernmental Agreement" means that certain Agreement between YBSD and the
City, dated June 14, 2004, in which the City and YBSD agreed that YBSD would contract with
the City to design and construct the Rob Roy Creek Interceptor and fund its construction, and
YBSD would own and maintain such Interceptor.
"Mayor" means the Mayor of the City.
"Municipal Code" means the Illinois Municipal Code, as supplemented and amended.
"Ordinance" means this ordinance as originally adopted and as the same may from time
to time be amended or supplemented.
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"Outstanding Bonds" means Bonds and Additional Bonds which are outstanding and
unpaid; provided, however, such term shall not include Bonds or Additional Bonds (i) which
have matured and for which moneys are on deposit with proper paying agents, or are otherwise
properly available, sufficient to pay all principal and interest thereof, or (ii) the provision for
payment of which has been made by the City by the deposit in an irrevocable trust or escrow of
funds or direct, full faith and credit obligations of the United States of America or obligations
guaranteed by the United States Government, the principal and interest of which will be
sufficient to pay at maturity or as called for redemption all the principal of and interest and
applicable premium on such Bonds or Additional Bonds.
"Paying Agent" means The Bank of New York Mellon Trust Company, National
Association, Chicago, Illinois, or any successor thereto or designated hereunder, in its capacity
as paying agent hereunder.
"Pledged Moneys" means, collectively, Pledged Revenues and Pledged Taxes as both are
defined herein.
"Pledged Revenues" means (i) those Revenues on deposit in the Rob Roy Creek
Alternate Bond and Interest Account of the Revenue Fund, and (ii) such other funds of the City
as may be necessary and on hand from time to time and lawfully available for such purpose.
"Pledged Taxes" means the ad valorem taxes levied against all of the taxable property in
the City without limitation as to rate or amount, pledged hereunder by the City as security for the
Bonds.
"Prior Ordinances" has the meaning set forth in the preambles.
"Revenue Fund" means the Rob Roy Creek Revenue Fund created and established by the
2005D Ordinance and continued pursuant to Section 1 I of this Ordinance.
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"Revenues" means (i) the Sewer Connection Fees derived from all property located south
of Galena Road plus the property known as Bristol Bay which is located north of Galena Road
and east of Route 47 (the "Bristol Bay Property ") all within the City and which will connect to
the Rob Roy Creek Interceptor, and (ii) the Infrastructure Participation Fees paid to the YBSD
and further distributed to the City pursuant to the Intergovernmental Agreement for properties
located south of Galena Road plus the Bristol Bay Property all within the City, which will
connect to the Rob Roy Creek Interceptor.
"Rob Roy Creek Alternate Bond and Interest Account" means the Rob Roy Creek
Alternate Bond and Interest Account established under the 2005D Ordinance and further
described by Section 12 of this Ordinance.
"Sewer Connection Fees" means the sewer connection fees imposed by the City on
property connecting to the City's sewer and water system as authorized by Ordinance
Number 96 -11 of the City, adopted by the Corporate Authorities on September 12, 1996, as such
fees may be adjusted from time to time.
"Surplus Account" means the Rob Roy Creek Surplus Account created and established
under the 2005D Ordinance and further described by Section 12 of this Ordinance.
"Tar Agreement" means the Tax Certificate and Agreement of the City dated the date of
issuance of the Bonds.
"Treasurer" means the Treasurer of the City.
"2004B Ordinance" has the meaning set forth in the preambles.
"2005D Ordinance" has the meaning set forth in the preambles.
" Waterwork and Sewerage Fund" or "Fund" means the Waterworks and Sewerage Fund
of the City created and established by the Prior Ordinances.
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"YBSD" means the Yorkville - Bristol Sanitary District, a municipal corporation organized
and existing under the laws of the State of Illinois and its successors and assigns.
"YBSD Sewer Use Ordinance" means the sewer use ordinance of YBSD adopted by the
President and Board of Trustees of YBSD on the day of ,
Section 2. Incorporation of Preambles; Acceptance of Report. The Corporate
Authorities hereby find that all of the recitals contained in the preambles to this Ordinance are
full, true and correct and do incorporate them into this Ordinance by this reference. The Report
is hereby accepted and approved by the Corporate Authorities, and it is hereby found and
determined that Speer is a feasibility analyst having a national reputation for expertise in such
matters as the Report.
Section 3. Determination to Issue Bonds. It is necessary and in the best interests of the
City to undertake the Refunding for the public health, safety and welfare, in accordance with the
estimate of costs, as described, and in accordance with the provisions of the Municipal Code and
the Act.
Section 4. Determination of Useful Life. The Corporate Authorities do hereby
determine the period of usefulness of the System to be not less than 25 years from the date
hereof.
Section. 5. Bond Details. For the purpose of paying the cost of the Refunding, there
shall be issued and sold the Bonds in the aggregate principal amount of $2,020,000. The Bonds
shall each be designated "General Obligation Refunding Bond (Alternate Revenue Source),
Series 2008 ", shall be dated the date of issuance thereof, shall also bear the date of
authentication, shall be in fully registered form, shall be in denominations of $5,000 each or
authorized integral multiples thereof (but no single Bond shall represent installments of principal
maturing on more than one date), shall be numbered I and upward, and shall become due and
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payable as a term bond on December 30, 2017 in the amount of $2,020,000 and bearing interest
at the rate per annum of 5.45 percent.
The Bonds shall bear interest from their date or from the most recent interest payment
date to which interest has been paid or duly provided for, until the principal amount of the Bonds
is paid, such interest (computed upon the basis of a 360 -day year of twelve 30 -day months) being
payable on the June 30 and December 30 of each year, commencing on June 30, 2009. Principal
(and premium, if any) upon redemption and interest on each Bond shall be paid by check or draft
of the Paying Agent, in lawful money of the United States of America, to the person in whose
name such Bond is registered (the "Registered Owner ") at the close of business on the 15th day
of the month of the interest payment date or 15 days preceding any redemption date of Bonds on
other than the 30th day of the month (the "Record Date "); provided that payment of interest on
any Bond shall be made to the Registered Owner of $1,000,000 or more in aggregate principal
amount of Bonds as of the close of business of the Paying Agent on the Record Date by wire
transfer to such Registered Owner on such interest payment date upon written notice from such
Registered Owner containing the wire transfer address within the United States of America to
which the Registered Owner wishes to have such wire directed which notice is received not later
than the Business Day preceding such Record Date. The principal of the Bonds payable at
maturity shall be payable in lawful money of the United States of America upon presentation
thereof at the principal corporate trust office of the Paying Agent in Chicago, Illinois, or at a
successor Paying Agent address.
The Bonds shall be signed by the manual or facsimile signature of the Mayor, and shall
be attested by the manual or facsimile signature of the City Clerk, and the corporate seal of the
City shall be affixed thereto or printed thereon, and in case any officer whose signature shall
appear on any Bond shall cease to be such officer before the delivery of such Bond, such
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signature shall nevertheless be valid and sufficient for all purposes, the same as if such officer
had remained in office until delivery.
All Bonds shall have thereon a certificate of authentication substantially in the form
hereinafter set forth duly executed by the Bond Registrar as authenticating agent of the City for
this issue and showing the date of authentication. No Bond shall be valid or obligatory for any
purpose or be entitled to any security or benefit under this Ordinance unless and until such
certificate of authentication shall have been duly executed by the Bond Registrar by manual
signature, and such certificate of authentication upon any such Bond shall be conclusive
evidence that such Bond has been authenticated and delivered under this Ordinance. The
certificate of authentication on any Bond shall be deemed to have been executed by the Bond
Registrar if signed by an authorized officer of the Bond Registrar, but it shall not be necessary
that the same officer sign the certificate of authentication on all of the Bonds issued hereunder.
Section 6. Registration of Bonds; Persons Treated as Owners. The City shall cause
books for the registration and for the transfer of the Bonds as provided in this Ordinance to be
kept at the principal corporate trust office of the Bond Registrar, which is hereby constituted and
appointed the registrar of the City for this issue. The City is authorized to prepare, and the Bond
Registrar shall keep custody of, multiple Bond blanks executed by the City for use in the transfer
and exchange of Bonds.
Upon surrender for transfer of any Bond at the principal corporate trust office of the
Bond Registrar, duly endorsed by, or accompanied by a written instrument or instruments of
transfer in form satisfactory to the Bond Registrar and duly executed by the registered owner or
his attorney duly authorized in writing, the City shall execute and the Bond Registrar shall
authenticate, date and deliver in the name of the transferee or transferees a new fully registered
Bond or Bonds of the same maturity of authorized denominations, for a like aggregate principal
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amount. Any fully registered Bond or Bonds may be exchanged at said office of the Bond
Registrar for a like aggregate principal amount of Bond or Bonds of the same maturity of other
authorized denominations. The execution by the City of any fully registered Bond shall
constitute full and due authorization of such Bond and the Bond Registrar shall thereby be
authorized to authenticate, date and deliver such Bond; provided, however, the principal amount
of outstanding Bonds of each maturity authenticated by the Bond Registrar shall not exceed the
authorized principal amount of Bonds for such maturity less previous retirements.
The Bond Registrar shall not be required to transfer or exchange any Bond during the
period from the close of business on the 15th day of the calendar month of an interest payment
date on the Bonds or during the period of 15 days preceding the giving of notice of redemption
of Bonds or to transfer or exchange any Bond all or a portion of which has been called for
redemption.
The person in whose name any Bond shall be registered shall be deemed and regarded as
the absolute owner thereof for all purposes, and payment of the principal of or interest on any
Bond shall be made only to or upon the order of the registered owner thereof or his legal
representative. All such payments shall be valid and effectual to satisfy and discharge the
liability upon such Bond to the extent of the sum or sums so paid.
No service charge shall be made for any transfer or exchange of Bonds, but the City or
the Bond Registrar may require payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection with any transfer or exchange of Bonds
except in the case of the issuance of a Bond or Bonds for the unredeemed portion of a Bond
surrendered for redemption.
Notwithstanding any other provision of this Ordinance, it shall be a condition to any
transfer or exchange of Bonds that a new investor's letter in form and substance satisfactory to
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the City be issued by any subsequent purchaser or transferee of the Bonds substantially in the
form of the investor's letter delivered to the City at the time of issuance of the Bonds.
Section 7. Redemption. (a) Optional Redemption.. The Bonds shall be subject to
redemption prior to maturity at the option of the City, in whole or in part, and if in part in
minimum denominations of $500,000 and increments of $1,000 in excess thereof, on any interest
payment date at a redemption price (expressed as a percentage of the principal amount of the
Bonds to be redeemed) as set forth below, plus accrued and unpaid interest to the date of
redemption.
REDEMPTION DATES REDEMPTION PRICES
June 30, 2009 through December 29, 2013 102%
December 30, 2013 through December 30, 2014 101%
December 30, 2014 and thereafter 100%
Any optional redemption of the Bonds in part shall be applied to reduce the amount of
Bonds required to be redeemed by mandatory sinking fund redemption as described below in
inverse order of sinking fund requirement or pro rata among all sinking fund requirements, as
elected by the City.
(b) Mandatory Sinking Fund Redemption. The Bonds shall be subject to mandatory
sinking fund redemption and payment at maturity, in accordance with the provisions set forth
below, at a redemption price of 100% of the principal amount to be redeemed plus accrued
interest, without premium, on December 30 of the year and in the amount set forth below:
YEAR PRINCIPAL AMOUNT
2016 $985,000
The principal amounts of Bonds to be mandatorily redeemed, if any, in each year may be
reduced through the earlier optional redemption thereof, with any partial optional redemptions of
such Bonds credited against future mandatory redemption requirements in such order of the
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mandatory redemption dates as the City may determine. In addition, on or prior to the 60th day
preceding any mandatory redemption date, the Bond Registrar may, and if directed by the
Corporate Authorities shall, purchase Bonds required to be retired on such mandatory
redemption date. Any such Bonds so purchased shall be cancelled and the principal amount
thereof shall be credited against the mandatory redemption required on such next mandatory
redemption date.
Section 8. Redemption Procedure. The City shall, at least 45 days prior to the
redemption date (unless a shorter time period shall be satisfactory to the Bond Registrar), notify
the Bond Registrar of such redemption date and of the maturities and principal amounts of Bonds
to be redeemed. For purposes of any redemption of less than all of the Bonds of a single
maturity, the particular Bonds or portions of Bonds to be redeemed shall be selected by lot not
more than 60 days prior to the redemption date by the Bond Registrar for the Bonds of such
maturity by such method of lottery as the Bond Registrar shall deem fair and appropriate;
provided, however, that such lottery shall provide for the selection for redemption of Bonds or
portions thereof so that any $5,000 Bond or $5,000 portion of a Bond shall be as likely to be
called for redemption as any other such $5,000 Bond or $5,000 portion.
The Bond Registrar shall promptly notify the City in writing of the Bonds or portions of
Bonds selected for redemption and, in the case of any Bond selected for partial redemption, the
principal amount thereof to be redeemed.
Unless waived by the registered owner of Bonds to be redeemed, official notice of any
such redemption shall be given by the Bond Registrar on behalf of the City by mailing the
redemption notice by first class mail not less than 30 days and not more than 60 days prior to the
date fixed for redemption to each registered owner of the Bond or Bonds to be redeemed at the
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address shown on the Bond Register or at such other address as is furnished in writing by such
registered owner to the Bond Registrar.
All official notices of redemption shall include the full name of the Bonds and at least the
information as follows:
(a) the redemption date;
(b) the redemption price;
(c) if less than all of the outstanding Bonds of a particular maturity are to be
redeemed, the identification (and, in the case of partial redemption of Bonds within such
maturity, the respective principal amounts) of the Bonds to be redeemed; and
(d) a statement that on the redemption date the redemption price will become
due and payable upon each such Bond or portion thereof called for redemption and that
interest thereon shall cease to accrue from and after said date.
Prior to any redemption date, the City shall deposit with the Paying Agent an amount of
money sufficient to pay the redemption price of all the Bonds or portions of Bonds which are to
be redeemed on that date.
Official notice of redemption having been given as aforesaid, the Bonds or portions of
Bonds 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 Bonds or portions of Bonds shall cease to bear
interest. Neither the failure to mail such redemption notice, nor any defect in any notice so
mailed, to any particular registered owner of a Bond, shall affect the sufficiency of such notice
with respect to other registered owners. Notice having been properly given, failure of a
registered owner of a Bond 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
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waived in writing by a registered owner of a Bond entitled to receive such notice, either before or
after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by
registered owners shall be filed with the Bond Registrar, but such filing shall not be a condition
precedent to the validity of any action taken in reliance upon such waiver.
Bonds to be redeemed shall be paid by the Paying Agent at the redemption price. The
procedure for the payment of interest and principal due as part of the redemption price shall be as
provided in Section 5 for payment of principal at redemption and interest otherwise due.
The Paying Agent shall maintain a schedule of all payments of principal and premium on
the Bonds and shall make a notation in such schedule upon each payment of principal and
premium of the Bonds, whether at maturity or upon optional or mandatory redemption. In the
event of any discrepancy between the principal amount of the Bonds as set forth in the Bond and
as set forth in such schedule, the schedule shall be conclusive, absent manifest error.
If any Bond or portion of a Bond called for redemption shall not be so paid, the principal
shall, until paid or duly provided for, bear interest from the redemption date at the rate borne by
the Bond or portion of Bond so called for redemption.
So long as the hereinafter defined Purchaser is the registered owner of all the
Bonds, the Bond Registrar need not give notice of mandatory redemption and the Paying
Agent shall make scheduled sinking fund payments without presentment of the Bonds by
the Purchaser.
Section 9. Form of Bond. The Bonds shall be prepared in substantially the following
form; provided, however, that if the text of any Bond is to be printed in its entirety on the front
side of any Bond, then paragraph [2] and the legend, "See Reverse Side for Additional
Provisions," shall be omitted and paragraphs [6] through [16] shall be inserted immediately after
paragraph [1]:
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Form of Bond — Front Sidel
REGISTERED REGISTERED
NUMBER ONE $2,020,000
UNITED STATES OF AMERICA
STATE OF ILLINOIS
COUNTY OF KENDALL
UNITED CITY OF YORKVILLE
GENERAL OBLIGATION REFUNDING BOND
(ALTERNATIVE REVENUE SOURCE)
SERIES 2008
See Reverse Side for
Additional Provisions
Interest Maturity Dated
Rate: 5.45% Date: December 30, 2017 Date: December 23, 2008
Registered Owner: CAPITAL ONE PUBLIC FUNDING, LLC
Principal Amount: TWO MILLION TWENTY THOUSAND DOLLARS
[1] KNOW ALL PERSONS BY THESE PRESENTS, that the United City of Yorkville,
Kendall County, Illinois (the "City "), hereby acknowledges itself to owe and for value received
promises to pay to the Registered Owner identified above, or registered assigns as hereinafter
provided, 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 date of this Bond or from the most recent interest payment date to
which interest has been paid or duly provided for at the Interest Rate per annum set forth above
on June 30 and December 30 of each year, commencing June 30, 2009, until said Principal
Amount is paid. The principal of this Bond at maturity is payable in lawful money of the United
States of America at the principal corporate trust office of The Bank of New York Mellon Trust
Company, National Association, Chicago, Illinois, as paying agent (the "Paying Agent ").
Payment of the installments of interest and principal and premium, if any, upon redemption of
the Bonds shall be made to the Registered Owner hereof as shown on the registration books of
the City maintained by The Bank of New York Mellon Trust Company, National Association,
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Chicago, Illinois, as bond registrar (the "Bond Registrar "), at the close of business on the
15th day of the month of each interest payment date or 15 days preceding any redemption date of
Bonds (the "Record Date ") and shall be paid by check or draft of the Paying Agent, payable in
lawful money of 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 Bond Registrar); provided that payment of interest on any Bond shall be
made to the Registered Owner of $1,000,000 or more in aggregate principal amount of Bonds as
of the close of business of the Paying Agent on the Record Date by wire transfer to such
Registered Owner on such interest payment date upon written notice from such Registered
Owner containing the wire transfer address within the United States of America to which the
Registered Owner wishes to have such wire directed which notice is received not later than the
Business Day preceding such Record Date.
(2] Reference is hereby made to the further provisions of this Bond 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.
131 It is hereby certified and recited that all acts, conditions and things required to be
done precedent to and in the issuance of this Bond have been done and have happened and have
been performed in regular and due form of law; that the indebtedness of the City, including the
issue of Bonds of which this is one, does not exceed any limitation imposed by law; that
provision has been made for the collection of the Pledged Revenues, the levy and collection of
the Pledged Taxes and the segregation of the Pledged Moneys to pay the interest hereon as it
falls due and also to pay and discharge the principal hereof at maturity; and that the City hereby
covenants and agrees that it will properly account for the Pledged Moneys and will comply with
all the covenants of and maintain the funds and accounts as provided by the Bond Ordinance.
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[41 This Bond shall not be valid or become obligatory for any purpose until the
certificate of authentication hereon shall have been signed by the Bond Registrar.
[5 J IN WITNESS WHEREOF, said United City of Yorkville, Kendall County, Illinois, by
its City Council, has caused this Bond to be signed by the manual or duly authorized facsimile
signature of its Mayor and attested by the manual or duly authorized facsimile signature of its
City Clerk, and its corporate seal to be affixed hereto or printed hereon, all as of the Dated Date
identified above.
Mayor
[SEAL
ATTEST:
City Clerk
Date of Authentication:
CERTIFICATE Bond Registrar and Paying Agent:
OF The Bank of New York Mellon Trust Company
AUTHENTICATION National Association,
Chicago, Illinois
This Bond is one of the Bonds described in
the within - mentioned Ordinance and is one of
the General Obligation Refunding Bonds
(Alternate Revenue Source), Series 2008, of
the United City of Yorkville, Kendall County,
Illinois.
THE BANK OF NEW YORK MELLON TRUST
COMPANY, NATIONAL ASSOCIATION,
as Bond Registrar
By
Authorized Officer
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[Form of Bond — Reverse Side]
UNITED CITY OF YORKVILLE
KENDALL COUNTY, ILLINOIS
GENERAL OBLIGATION REFUNDING BOND
(ALTERNATE REVENUE SOURCE)
SERIES 2008
161 This bond and the bonds of the series of which it forms a part ( "Bond" and
"Bonds" respectively) are part of an issue of Two Million Twenty Thousand Dollars
($2,020,000) of like date and tenor. The Bonds are issued pursuant to the Local Government
Debt Reform Act (the "Act ") and Division 139 of Article 11 of the Illinois Municipal Code (the
"Municipal Code ") and provisions of the Intergovernmental Corporation Act, 5ILCS 220/1
et seq., all as supplemented and amended, for the purpose of financing the costs of refunding a
portion of the City's General Obligation Bonds (Alternate Revenue Source), Series 2005D
(the "2005D Bonds "). The Bonds are issued pursuant to an authorizing ordinance passed by the
City Council of the City (the "Corporate Authorities ") on the 10th day of November, 2008, and
by a bond ordinance passed by the Corporate Authorities on the 22nd day of December, 2008
(the "Bond Ordinance "), to which reference is hereby expressly made for further definitions and
terms and to all the provisions of which the Registered Owner by the acceptance of this Bond
assents.
171 Under the Municipal Code and the Bond Ordinance, the Revenues, as defined in the
Bond Ordinance shall be deposited into the Rob Roy Creek Revenue Fund of the City which
shall be used only and has been. pledged for paying the principal of and interest on all bonds of
the City that are payable by their terms from such Revenues and in making all payments required
to maintain the accounts established under the Bond Ordinance. The City may issue future
waterworks and sewerage revenue bonds, which bonds may be issued on a parity with the Bonds,
pursuant to the terms of the Bond Ordinance.
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181 The Bonds are payable from (a)(i) Revenues deposited to the credit of the Rob Roy
Creek Alternate Bond and Interest Account within the Rob Roy Creek Revenue Fund (the
"Pledged Revenues "), and (ii) such other funds of the City as may be necessary and on hand
from time to time and lawfully available for such purpose and (b) ad valorem taxes levied
against all of the taxable property in the City without limitation as to rate or amount (the
"Pledged Taxes ") (the Pledged Revenues and the Pledged Taxes being collectively called the
"Pledged Moneys "), all in accordance with the provisions of the Act and the Municipal Code.
For the prompt payment of this Bond, both principal and interest at maturity, the full faith, credit
and resources of the City are hereby irrevocably pledged.
"Revenues" to be deposited into the Rob Roy Creek Revenue Fund consist of (i) the
Sewer Connection Fees derived from all property located south of Galena Road plus the Bristol
Bay Property (as defined in the Bond Ordinance) all within the City and which will connect to
the Rob Roy Creek Interceptor, and (ii) the Infrastructure Participation Fees paid to the
Yorkville - Bristol Sanitary District and further distributed to the City pursuant to the
Intergovernmental Agreement for properties located south of Galena Road plus the Bristol Bay
Property all within the City, which will connect to the Rob Roy Creek Interceptor.
191 Under the Act and the Bond Ordinance, the Pledged Revenues shall be deposited
into and segregated in the Rob Roy Creek Alternate Bond and Interest Account of the Rob Roy
Creek Revenue Fund, and the Pledged Taxes shall be deposited into and segregated in the Rob
Roy Creek Alternate Bond Fund (2008), as set forth in the Bond Ordinance. Moneys on deposit
in said Account and said Fund shall be used first and are pledged for paying the principal of and
interest on the Bonds and then for any further purposes as provided by the terms of the Bond
Ordinance.
1 101 This Bond does not constitute an indebtedness of the City within the meaning of any
constitutional or statutory provision or limitation, unless the Pledged Taxes shall have been
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extended pursuant to the general obligation, full faith and credit promise supporting the Bonds,
in which case the amount of the Bonds then outstanding shall be included in the computation of
indebtedness of the City for purposes of all statutory provisions or limitations until such time as
an audit of the City shows that the Bonds have been paid from the Pledged Revenues for a
complete Fiscal Year.
11 ] The outstanding Bonds, along with the 2005D Bonds not being refunded by the
Bonds, are co -equal as to the lien on the Pledged Revenues for their payment and share ratably,
without any preference, priority, or distinction, the one over the other, as to the source of or
method of payment from the Pledged Revenues.
1 121 This Bond is transferable by the Registered Owner hereof in person or by his
attorney duly authorized in writing at the principal corporate trust office of the Bond Registrar in
Chicago, Illinois, but only in the manner, subject to the limitations and upon payment of the
charges provided in the Bond Ordinance, and upon surrender and cancellation of this Bond.
Upon such transfer a new Bond or Bonds of authorized denominations of the same maturity and
for the same aggregate principal amount will be issued to the transferee in exchange therefor.
Notwithstanding any other provision herein, it shall be a condition to any transfer or exchange of
Bonds that a new investor's letter in form and substance satisfactory to the City be issued by any
subsequent purchaser or transferee of the Bonds and substantially in the form of the investor's
letter delivered to the City at the time of issuance of the Bonds.
1 13 1 The Bonds are issued in fully registered form in the denominations set forth in the
Bond Ordinance or authorized integral multiples thereof. This Bond may be exchanged at the
principal corporate trust office of the Bond Registrar for a like aggregate principal amount of.
Bonds of the same maturity of other authorized denominations, upon the terms set forth in the
Bond Ordinance. The Bond Registrar shall not be required to transfer or exchange any Bond
during the period beginning at the close of business on the 15th day of the month of any interest
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payment date on such Bond or during the period of 15 days preceding the giving of notice of
redemption of Bonds or to transfer or exchange any Bond all or a portion of which has been
called for redemption.
1141 The Bonds are subject to redemption prior to maturity at the option of the City, in
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whole or in part, and if in part in minimum denominations of $500,000 and increments of $1,000
in excess thereof, on any interest payment date at a redemption price (expressed as a percentage
of the principal amount of the Bonds to be redeemed) as set forth below, plus accrued and unpaid
interest to the date of redemption.
REDEMPTION DATES REDEMPTION PRICES
June 30, 2009 through December 29, 2013 102%
December 30, 2013 through December 30, 2014 101%
December 30, 2014 and thereafter 100%
Any optional redemption of the Bonds in part shall be applied to reduce the amount of
Bonds required to be redeemed by mandatory sinking fund redemption as described below in
inverse order of sinking fund requirement or pro rata among all sinking fund requirements, as
elected by the City.
The Bonds are also subject to mandatory sinking fund redemption and payment at
maturity at a redemption price of 100% of the principal amount to be redeemed plus accrued
interest, without premium, on December 30 of the year and in the amount set forth below:
YEAR PRINCIPAL AMOUNT
2016 $985,000
The City covenants in the Bond Ordinance that it will redeem the Bonds pursuant to the
mandatory sinking fund requirements for the Bonds as provided in the Bond Ordinance. The
Paying Agent shall maintain a schedule of all payments of principal of and premium on the
Bonds and shall make a notation in such schedule upon each payment of principal and premium
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of the Bonds whether at maturity or upon optional or mandatory redemption. The initial
payment schedule for the Bonds, which includes the amount of interest payable on the Bonds on
each interest payment date and the mandatory sinking fund requirements described above, is
attached hereto as Schedule I. Upon any optional redemption of the Bonds, the Paying Agent
shall mail to the registered owner of the Bonds and the City a revised payment schedule
reflecting the reduction in payments owed on the Bonds after giving effect to such redemption.
In the event of any discrepancy between the principal amount of the Bonds as set forth in this
Bond and as set forth in such schedule, the schedule shall be conclusive, absent manifest error.
151 Notice of any such redemption shall be given by the Bond Registrar on behalf of the
City as provided in the Bond Ordinance.
[161 The City, the Paying Agent and the Bond 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, the Paying Agent nor the Bond Registrar shall be affected by any notice to the contrary.
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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 Bond and does hereby irrevocably constitute and appoint
as attorney to transfer the said Bond on the books kept for registration thereof with full power of
substitution in the premises,
Dated:
Signature guaranteed:
NOTICE: The signature to this transfer and assignment must correspond with the name of the
Registered Owner as it appears upon the face of the within Bond in every particular,
without alteration or enlargement or any change whatever.
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Schedule I
Debt Service Schedule
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Section 10. Treatment of Bonds as Debt. The Bonds shall be payable from the Pledged
Moneys and shall not constitute an indebtedness of the City within the meaning of any
constitutional or statutory limitation, unless the Pledged Taxes shall have been extended pursuant
to the general obligation, full faith and credit promise supporting the Bonds, as set forth in
Section 15 hereof, in which case the amount of the Bonds then Outstanding shall be included in
the computation of indebtedness of the City for purposes of all statutory provisions or limitations
until such time as an audit of the City shows that the Bonds have been paid from the Pledged
Revenues for a complete Fiscal Year, in accordance with the Act.
Section 11. Creation of Rob Roy Creek Revenue Fund. All of the Revenues shall be set
aside as collected and be deposited in a separate fund and in an account in a bank to be
designated by the Corporate Authorities, which fund was created by the 2005D Ordinance and is
hereby continued and is designated as the "Rob Roy Creek Revenue Fund" (the "Revenue
Fund ") of the City, which shall constitute a trust fund for the sole purpose of carrying out the
covenants, terms, and conditions of the 2005D Ordinance and this Ordinance, and shall be used
only as provided herein for paying the principal of and interest on all bonds of the City which by
their terms are payable from the Revenues, and providing for the establishment of and
expenditure from the respective accounts as hereinafter described. The Revenue Fund is an
additional account or fund created pursuant to a Future Bond Ordinance (as defined in the Prior
Ordinances) which is senior to and has priority of payment over the Depreciation Account and
Surplus Account (each as defined in the Prior Ordinances) with respect to any Revenues as
defined herein. The Revenues described in clause (i) of the definition of Revenues shall first be
deposited in the Waterworks and Sewerage Fund created pursuant to the Prior Ordinances and
after any requirement to fund the Operation and Maintenance Account as defined in, and created
pursuant to, the Prior Ordinances, shall immediately thereafter, and prior to transfer to any other
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accounts created pursuant to the Prior Ordinances, be transferred to the Revenue Fund. The
Revenues described in clause (ii) of such definition shall be immediately deposited upon receipt
by the City into the Revenue Fund.
Section 12. Flow of Funds. There was created in the 2005D Ordinance and continued
hereunder two separate accounts in the Revenue Fund to be known as the Rob Roy Creek
Alternate Bond and Interest Account and the Rob Roy Creek Surplus Account, and to which
there shall be credited on or before the first day of each month by the financial officer of the
City, without any further official action or direction, in the order in which said accounts are
hereinafter mentioned, all moneys held in the Revenue Fund, in accordance with the following
provisions:
(a) Rob Roy Creek Alternate Bond and Interest Account. All moneys in the
Revenue Fund shall be credited first to a separate and segregated account created in the
2005D Ordinance, continued hereunder and designated the "Rob Roy Creek Alternate
Bond and Interest Account" of the Rob Roy Creek Revenue Fund (the "Rob Roy Creek
Alternate Bond and Interest Account "), as follows. There shall be paid into the Rob Roy
Creek Alternate Bond and Interest Account in each month the amount of the interest
becoming due on the next succeeding interest payment date on all Outstanding Bonds and
the amount of the principal becoming due on the next succeeding principal maturity date
or mandatory sinking fund redemption date of all Outstanding Bonds until there shall
have been accumulated in the Rob Roy Creek Alternate Bond and Interest Account on or
before the month preceding such payment date of interest or principal, an amount
sufficient to pay such principal or interest, or both, of all Outstanding Bonds on such next
succeeding payment date. All moneys in said Account shall be used only for the purpose
of paying interest on and principal of Bonds and Additional Bonds.
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(b) Rob Roy Creek Surplus Account. Any funds remaining in the Rob Roy
Creek Revenue Fund after making the aforesaid deposits to the credit of the Rob Roy
Creek Alternate Bond and Interest Account, shall be transferred to a separate and
segregated account created and designated in the 2005D Ordinance and continued
hereunder as the "Rob Roy Creek Surplus Account" of the Rob Roy Creek Revenue Fund
(the "Surplus Account "). Amounts in the Surplus Account shall be used, first, to make
up any subsequent deficiencies in the Rob Roy Creek Alternate Bond and Interest
Account; and then, for the remainder of all surplus Revenues, at the discretion of the
Corporate Authorities, for one or more of the following purposes without any priority
among them:
I . For the purpose of calling and redeeming Outstanding Bonds payable
from the Revenues which are callable at the time; or
2. For the purpose of purchasing Outstanding Bonds payable from the
Revenues.
(c) After there has been accumulated in the Surplus Account an amount equal to
100% of the principal of and interest to accrue on the Bonds, any remaining Revenue,
may be released at the discretion of the Corporate Authorities for one or more of the
following purposes without any priority among them:
I. For the purpose of constructing or acquiring repairs, replacements,
improvements or extensions to the System; or
2. For making transfers to the Revenue Fund generally to be applied and
treated as Revenues when transferred; or
3. For the purpose of calling and redeeming Outstanding Bonds payable
from the Revenues which are callable at the time; or
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4. For the purpose of purchasing Outstanding Bonds payable from the
Revenues; or
5. For the purpose of paying principal of and interest on any subordinate
bonds or obligations issued for the purpose of acquiring or constructing repairs,
replacements, improvements or extensions to the System; or
6. For any purpose .enumerated in (i) any ordinance authorizing
subordinate bonds or (ii) the Prior Ordinances; or
7. For any other lawful purpose.
(d) Money to the credit of the Revenue Fund may be invested pursuant to any
authorization granted to municipal corporations by Illinois statute or court decision.
Amounts on deposit in the Surplus Account shall be subject to the yield restriction
provisions set forth in the Tax Agreement.
Section 13. Account Excesses. Any amounts to the credit of the accounts created by
this Ordinance in excess of the then current requirements therefor may be transferred at any time
by the Corporate Authorities to such other account or accounts of the Revenue Fund as it may in
its sole discretion designate.
Section 14. Sale of Bonds. The Bonds hereby authorized shall be executed as in this
Ordinance provided as soon after the passage hereof as may be, and thereupon be deposited with
the City Treasurer, and be by said Treasurer delivered to Capital One Public Funding, LLC,
Melville, New York, the purchaser thereof (the "Purchaser "), upon receipt of the purchase price
therefor, the same being $2,077,933.60; the contract for the sale of the Bonds heretofore entered
into (the "Purchase Contract ") is in all respects ratified, approved and confirmed, it being
hereby found and determined that the Bonds 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 upon such
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sale exceed the maximum rate otherwise authorized by Illinois law and that the Purchase
Contract is in the best interests of the City and that no person holding any office of the City,
either by election or appointment, is in any manner financially interested directly in his own
name or indirectly in the name of any other person, association, trust or corporation, in the
Purchase Contract.
The officers of the City are hereby authorized to take any action as may be required on
the part of the City to consummate the transactions contemplated by this Ordinance and the
Bonds.
Section IS. Pledged Taxes; Tax Levy. For the purpose of providing additional funds to
pay the principal of and interest on the Bonds, and as provided in Section 15 of the Act, there is
hereby levied upon all of the taxable property within the City, in the years for which any of the
Bonds are Outstanding, a direct annual tax in amounts sufficient for that purpose, and there shall
be levied upon all of the taxable property in the City the following direct annual taxes (the
"Pledged Taxes "):
FOR THE YEAR A TAX SUFFICIENT TO PRODUCE THE SUM OF:
2008 $ 112,230.64 for interest up to and including December 30,
2009
2009 $ 110,090.00 for interest
2010 $ 110,090.00 for interest
2011 $ 110,090.00 for interest
2012 $ 110,090.00 for interest
2013 $ 110,090.00 for interest
2014 $ 110,090.00 for interest
2015 $ 1,095,090.00 for principal and interest
2016 $ 1,091,407.50 for principal and interest
Interest or principal coming due at any time when there are insufficient funds on hand
from the Pledged Moneys to pay the same shall be paid promptly when due from current funds
on hand in advance of the collection of the Pledged Moneys herein pledged and levied; and when
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the Pledged Moneys shall have been collected, reimbursement shall be made to said funds in the
amount so advanced.
The City covenants and agrees with the purchasers and the owners of the Bonds that so
long as any of the Bonds remain outstanding, the City will take no action or fail to take any
action which in any way would adversely affect the ability of the City to collect the Pledged
Revenues or to levy and collect the Pledged Taxes. The City and its officers will comply with all
present and future applicable laws in order to assure that the Pledged Revenues will be available
and that the Pledged Taxes will be levied, extended and collected as provided herein and
deposited in the Bond Fund.
Section 16. Filing with County Clerk. After this Ordinance becomes effective, a copy
hereof, certified by the City Clerk, shall be filed with the County Clerk. The County Clerk shall
in and for each of the years required ascertain the rate percent required to produce the aggregate
Pledged Taxes provided to be levied in each of said years; and the County Clerk shall extend the
same for collection on the tax books in connection with other taxes levied in said years in and by
the City for general corporate purposes of the City; and the County Clerk, or other appropriate
officer or designee, shall remit the Pledged Taxes for deposit to the credit of a special fund to be
designated the "Rob Roy Creek Alternate Bond Fund (2008)" (the "Bond Fund"), and in said
years the Pledged Taxes shall be levied and collected by and for and on behalf of the City in like
manner as taxes for general municipal purposes of the City for said years are levied and
collected, and in addition to and in excess of all other taxes. The Pledged Taxes are hereby
irrevocably pledged to and shall be used only for the purpose of paying principal of and interest
on the Bonds. It is hereby expressly provided that in the event there shall be moneys both to the
credit of the Rob Roy Creek Alternate Bond and Interest Account and the Bond Fund, the Bond
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Fund shall be fully depleted before moneys to the credit of the Rob Roy Creek Alternate Bond
and Interest Account shall be used to pay principal of and interest on the Bonds.
Section 17. Abatement of Pledged Taxes. Whenever the Pledged Revenues shall have
been determined by the Corporate Authorities to provide in any calendar year an amount not less
than 1.00 times debt service of all Outstanding Bonds in the next succeeding Bond Year (June 30
and December 30), the Treasurer or Finance Director shall, prior to the time the Pledged Taxes
levied in such calendar year are extended, direct the abatement of the Pledged Taxes for such
Bond Year, and proper notification of such abatement shall be filed with the County Clerk in a
timely manner to effect such abatement.
The City covenants and agrees that it will not direct the County Clerk to abate any other
taxes levied for general corporate purposes in a calendar year until sufficient Pledged Revenues
have been deposited in the Rob Roy Creek Alternate Bond and Interest Account and the
abatement of the Pledged Taxes for such calendar year has been filed with the County Clerk.
Section 18. Pledged Revenues; General Covenants. The City covenants and agrees
with the registered owners of the Bonds that, so long as any Bonds remain Outstanding:
A. The City hereby pledges the Pledged Revenues to the payment of the Bonds,
and the Corporate Authorities covenant and agree to provide for, collect and apply the
Pledged Revenues to the payment of the Bonds and the provision of not less than an
additional .25 times debt service, all in accordance with Section 15 of the Act. The
determination of the sufficiency of the Pledged Revenues pursuant to this subsection (A)
shall be supported by reference to the annual audit of the City and acceptance of said
Audit by the Corporate Authorities shall be conclusive evidence that the conditions of
Section 15 of the Act have been met.
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B. The City will punctually pay oi cause to be paid from the Rob Roy Creek
Alternate Bond and Interest Account and from the Bond Fund the principal of and the
interest on the Bonds in strict conformity with the terms of the Bonds and this Ordinance,
and it will faithfully observe and perform all of the conditions, covenants and
requirements thereof and hereof.
C. The City will pay and discharge, or cause to be paid and discharged, from
the Rob Roy Creek Alternate Bond and Interest Account and the Bond Fund any and all
lawful claims which, if unpaid, might become a lien or charge upon the Pledged Moneys,
or any part thereof, or upon any funds in the hands of the Paying Agent, or which might
impair the security of the Bonds. Nothing herein contained shall require the City to make
any such payment so long as the City in good faith shall contest the validity of said
claims.
D. The City will keep, or cause to be kept, proper books of record and
accounts, separate from all other records and accounts of the City, in which complete and
correct entries shall be made of all transactions relating to the Pledged Moneys, the Rob
Roy Creek Alternate Bond and Interest Account and the Bond Fund. Such books of
record and accounts shall at all times during business hours be subject to the inspection of
the registered owners of not less than ten per cent (10%) of the principal amount of the
Outstanding Bonds or their representatives authorized in writing.
E. The City will preserve and protect the security of the Bonds and the rights of
the registered owners of the Bonds, and will warrant and defend their rights against all
claims and demands of all persons. From and after the sale and delivery of any of the
Bonds by the City, the Bonds shall be incontestable by the City.
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F. The City will adopt, make, execute and deliver any and all such further
ordinances, resolutions, instruments and assurances as may be reasonably necessary or
proper to carry out the intention of, or to facilitate the performance of, this Ordinance,
and for the better assuring and confirming unto the registered owners of the Bonds of the
rights and benefits provided in this Ordinance.
G. As long as any Bonds are Outstanding, the City will continue to deposit the
Revenues to the Revenue Fund and the Pledged Revenues to the Rob Roy Creek
Alternate Bond and Interest Account and, if applicable, the Pledged Taxes to the Bond
Fund. The City covenants and agrees with the purchasers of the Bonds and with the
registered owners thereof that so long as any Bonds remain Outstanding, the City will
take no action or fail to take any action which in any way would adversely affect the
ability of the City to collect the Pledged Taxes and to collect and to segregate the Pledged
Moneys. The City and its officers will comply with all present and future applicable laws
in order to assure that the Pledged Taxes can be extended and that the Pledged Revenues
and the Pledged Taxes may be collected and deposited to the Rob Roy Creek Alternate
Bond and Interest Account and the Bond Fund, respectively, as provided herein.
H. Once issued, the Bonds shall be and forever remain until paid or defeased
the general obligation of the City, for the payment of which its full faith and credit are
pledged, and shall be payable, in addition to the Pledged Revenues, from the levy of the
Pledged Taxes as provided in the Act.
I. The City will establish and maintain at all times Sewer Connection Fees,
and shall enforce the obligations of the YBSD to pay to the City the Infrastructure
Participation Fees required to be paid pursuant to the Intergovernmental Agreement and
will provide for the collection thereof and the segregation and application of the
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Revenues in the manner provided by this Ordinance, sufficient at all times to pay the
principal of and interest on all bonds of the City which by their terms are payable from
the Revenues, and to provide for the creation and maintenance and funding of the
respective accounts as provided in Section 12 of this Ordinance.
Section 19. Additional Bonds and Subordinate Bonds. The City reserves the right to
issue Additional Bonds from time to time payable from the Pledged Revenues, and any such
Additional Bonds shall share ratably and equally in the Pledged Revenues with the Bonds;
provided, however, that no Additional Bonds shall be issued except in accordance with the
provisions of the Act as the Act is written at this time and demonstrating that the coverage
required under the Act for the issuance of alternate bonds payable from the Revenues shall have
been met for all Outstanding Bonds.
The City also reserves the right to issue revenue bonds from time to time payable from
the Revenues that are subordinate to the Bonds or Additional Bonds and are payable from the
money remaining in the Rob Roy Creek Surplus Account after making required deposits into the
Rob Roy Creek Alternate Bond and Interest Account, and after setting aside the amounts
required pursuant to Section 12(c) of this Ordinance.
Section 20. Bonds No Longer Outstanding. Bonds which are no longer Outstanding
Bonds as defined in this Ordinance shall cease to have any lien on or right to receive or be paid
from Pledged Revenues or Pledged Taxes and shall no longer have the benefits of any covenant
for the registered owners of Outstanding Bonds as set forth herein as such relates to lien and
security of the Bonds in the Pledged Revenues or Pledged Taxes.
Section 21. Provisions a Contract. The provisions of this Ordinance shall constitute a
contract between the City and the owners of the Outstanding Bonds and no changes, additions, or
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alterations of any kind shall be made hereto, except as herein provided, so long as there are any
Outstanding Bonds.
Section 22. Use of Proceeds. The proceeds derived from the sale of the Bonds shall be
used as follows:
A. The City shall allocate from the Bond proceeds the sum necessary for
expenses incurred in the issuance of the Bonds which shall be deposited into an "Expense
Fund" to be maintained by the Treasurer and disbursed for such issuance expenses from
time to time in accordance with usual City procedures for the disbursement of funds,
which disbursements are hereby expressly authorized. Moneys not disbursed from the
Expense Fund within 6 months shall be transferred by the City for deposit into the Rob
Roy Creek Alternate Bond and Interest Account, and any deficiencies in the Expense
Fund shall be paid by disbursement from the Rob Roy Creek Alternate Bond and Interest
Account.
B. Next, the sum of principal proceeds of the Bonds as is necessary, together
with such money in the Rob Roy Creek Surplus Account as may be advisable for the
purpose, shall be used to provide for the Refunding, by paying said amount to the paying
agent for the Refunded Bonds.
Section 23. Call of the Refunded Bonds. In accordance with the redemption provisions
of the 2005D Ordinance, the City by the Corporate Authorities does hereby make provision for
the payment of and does hereby call (subject only to the delivery of the Bonds) the Refunded
Bonds for redemption and payment prior to maturity on December 23, 2008, at the redemption
price equal to 101% of the principal amount of the Refunded Bonds, plus accrued interest to the
date of redemption.
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Section 24. General Tax Covenants. The City 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 use of the proceeds of the Bonds) if
taking, permitting, or omitting to take such action would cause any of the Bonds to be an
arbitrage bond or a private activity bond within the meaning of the Code or would otherwise
cause the interest on the Bonds to be included in the gross income of the recipients thereof for
federal income tax purposes. The City 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
Bonds, under present rules, the City is treated as the "taxpayer" in such examination and agrees
that it will respond in a commercially reasonable manner to any inquiries from the Internal
Revenue Service in connection with such an examination. In furtherance of the foregoing
provisions, but without limiting their generality, the City agrees: (a) through its officers, to make
such further specific covenants, representations as shall be truthful, and assurances as may be
necessary or advisable; (b) to comply with all representations, covenants, and assurances
contained in Bonds or agreements as may be prepared by counsel approving the Bonds; (c) to
consult with such counsel and to comply with such advice as may be given; (d) to file such
forms, statements, and supporting documents as may be required and in a timely manner; and
(e) if deemed necessary or advisable by its officers, to employ and pay fiscal agents, financial
advisors, attorneys, and other persons to assist the City in such compliance.
Section 25. Registered Form. The City recognizes that Section 149 of the Code
requires the Bonds to be issued and to remain in fully registered form in order for the interest
thereon to be and remain Tax - Exempt. In this connection, the City agrees that it will not take
any action to permit the Bonds to be issued in, or converted into, bearer or coupon form.
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Section 26. Bank Qualification. The City recognizes the provisions of
Section 265(b)(3) of the Code which provide that a "qualified tax - exempt obligation" as therein
defined may be treated by certain financial institutions as if it were acquired on August 7, 1986,
as amended, for certain purposes. The City hereby designates the Bonds as a "qualified tax -
exempt obligation" for the purposes and within the meaning of Section 265(b)(3) of the Code.
Section 27. Pertaining to the Bond Registrar. If requested by the Bond Registrar, any
officer of the City is authorized to execute a standard form of agreement between the City and
the Bond Registrar with respect to the obligations and duties of the Bond Registrar under this
Ordinance. In addition to the terms of such agreement and subject to modification thereby, the
Bond Registrar by acceptance of duties under this Ordinance agrees (a) to act as registrar, paying
agent, authenticating agent, and transfer agent as provided herein; (b) to maintain a list of
Bondholders as set forth herein and to furnish such list to the City upon request, but otherwise to
keep such list confidential to the extent permitted by law; (c) to cancel and /or destroy Bonds
which have been paid at maturity or submitted for exchange or transfer; (d) to furnish the City at
least annually a certificate with respect to Bonds cancelled and /or destroyed; and (e) to furnish
the City at least annually an audit confirmation of Bonds paid, Bonds outstanding and payments
made with respect to interest on the Bonds. The City covenants with respect to the Bond
Registrar, and the Bond Registrar further covenants and agrees as follows:
A. The City shall at all times retain a Bond Registrar with respect to the Bonds;
it will maintain at the designated office(s) of such Bond Registrar a place or places where
Bonds may be presented for payment, registration, transfer, or exchange; and it will
require that the Bond Registrar properly maintain the Bond Register and perform the
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other duties and obligations imposed upon it by this Ordinance in a manner consistent
with the standards, customs, and practices of the municipal securities industry.
B. The Bond Registrar shall signify its acceptance of the duties and obligations
imposed upon it by this Ordinance by executing the certificate of authentication on any
Bond, and by such execution the Bond Registrar shall be deemed to have certified to the
City that it has all requisite power to accept and has accepted such duties and obligations
not only with respect to the Bond so authenticated but with respect to all the Bonds. Any
Bond Registrar shall be the agent of the City and shall not be liable in connection with
the performance of its duties except for its own negligence or willful wrongdoing. Any
Bond Registrar shall, however, be responsible for any representation in its certificate of
authentication on Bonds.
C. The City may remove the Bond Registrar at any time. In case at any time
the Bond Registrar shall resign, shall be removed, shall become incapable of acting, or
shall be adjudicated a bankrupt or insolvent, or if a receiver, liquidator, or conservator of
the Bond Registrar or of the property thereof shall be appointed, or if any public officer
shall take charge or control of the Bond Registrar or of the property or affairs thereof, the
City covenants and agrees that it will thereupon appoint a successor Bond Registrar. The
City shall give notice of any such appointment made by it to each registered owner of any
Bond within twenty days after such appointment in the same manner. Any Bond
Registrar appointed under the provisions of this Section shall be a bank, trust company,
or national banking association maintaining its principal corporate trust office in Illinois
and having capital and surplus and undivided profits in excess of $100,000,000. The City
Clerk is hereby directed to file a certified copy of this Ordinance with the Bond Registrar.
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Section 28. Defeasance. Any Bond or Bonds which (a) are paid and cancelled,
(b) which have matured and for which sufficient sums have been deposited with the Bond
Registrar to pay all principal and interest due thereon, or (c) for which sufficient United States of
America dollars and direct United States Treasury obligations have been deposited with the
Bond Registrar or similar institution to pay, taking into account investment earnings on such
obligations, all principal of and interest on (and redemption premium, if any, on) such Bond or
Bonds when due at maturity or as called for redemption, if applicable, pursuant to an irrevocable
escrow or trust agreement, shall cease to have any lien on or right to receive or be paid from the
bond moneys hereunder and shall no longer have the benefits of any covenant for the registered
owners of outstanding Bonds as set forth herein as such relates to lien and security of the
outstanding Bonds. All covenants relative to the tax - exempt status of the Bonds; and payment,
registration, transfer, and exchange; are expressly continued for all Bonds whether outstanding
Bonds or not.
Section 29. Superseder and Effective Date. All ordinances, resolutions, and orders, or
parts thereof, in conflict herewith, are to the extent of such conflict hereby superseded; and this
Ordinance shall be in full force and effect upon its passage and approval as provided by law.
-41-
ADOPTED by the Corporate Authorities on the 22nd day of December, 2008, pursuant to
a roll call vote as follows:
WALLY WERDERICH MARTY MUNNS
BOB ALLEN ROBYN SUTCLIFF
GARY GOLINSKI ROSE SPEARS
ARDEN JOSEPH PLOCHER JOSEPH BESCO
APPROVED by me, as Mayor of the United City of Yorkville, Kendall County, Illinois,
the 22nd day of December, 2008.
Mayor
PASSED by the City Council of the United City of Yorkville, Kendall County, Illinois, the
22nd day of December, 2008.
Atte '
"ffMtyv Cler
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MINUTES of a regular public meeting of the City Council of the
United City of Yorkville, Kendall County, Illinois, held in the City
Council Chambers of the City Building, located at 800 Game Farm
Road, in said City at 7:00 o'clock P.M., on the 22nd day of
December, 2008.
The Mayor called the meeting to order and directed the City Clerk to call the roll. Upon
roll call, the following answered present: Valerie Burd, the Mayor, and the following Aldermen
at said location answered present:
The following Aldermen were allowed by a majority of the members of the City Council
in accordance with and to the extent allowed by rules adopted by the City Council to attend the
meeting by video or audio conference:
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: C 4 0LINr--
The Mayor announced that the City Council would next consider the adoption of an
ordinance entitled:
AN ORDINANCE authorizing and providing for the issue of
$2,020,000 General Obligation Refunding Bonds (Alternate
Revenue Source), Series 2008, of the United City of Yorkville,
Kendall County, Illinois, for the purpose of refunding a portion of
the City's General Obligation Bonds (Alternate Revenue Source),
Series 2005D, prescribing all the details of said bonds, and
providing for the collection and segregation of revenues sufficient
to pay such bonds.
2525680.01.07.doc
2164010 KK 12/18/08
Alderman moved that the ordinance as presented and read by
title by the Clerk be adopted. Alderman �� ��� _ seconded the motion.
A City Council discussion of the matter followed. 1 CVM ( Ca nna gave a
public recital of the nature of the matter, which included statements (1) that the ordinance
provides for the issuance of alternate bonds for the purpose of paying the costs of refunding a
portion of the City's General Obligation Bonds (Alternate Revenue Source), Series 2005D,
(2) that the bonds are issuable without referendum pursuant to the Local Government Debt
Reform Act, as amended, (3) that the ordinance provides for the bonds to be paid by certain
sanitary sewer connection fees, Infrastructure Participation Fees to be paid to the City by the
Yorkville Bristol Sanitary District and other available revenues, but there is also a back -up levy
of property taxes to pay the bonds, and (4) that the ordinance provides many details for the
bonds, including tax - exempt status covenants, provision for terms and form of the bonds, and
appropriations.
After the full and complete discussion thereof, the Mayor directed that the roll be called
for a vote upon the motion to adopt the ordinance as read by title.
Upon the roll being called, the following Aldermen voted
AYE:
uk
NAY:
ABSENT:
0
ABSTAIN:
Whereupon the Mayor declared the motion carried and the ordinance adopted, and
henceforth did sign the same in open meeting and did direct the City Clerk to record the same in
fall in the records of the City Council of the City.
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i
Other business not pertinent to the adoption of said ordinance was duly transacted at said
meeting.
Upon motion duly made and seconded, the meeting was adjourned.
Cit Clerk
-3-
STATE OF ILLINOIS )
SS
COUNTY OF KENDALL )
CERTIFICATION OF ORDINANCE AND MINUTES
1, 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 am the
keeper of the books, records, files, and journal of proceedings of the City and of the City Council
(the "Corporate Authorities ") thereof.
I do further certify that the foregoing constitutes a full, true and complete transcript of the
minutes of the legally convened regular meeting of the Corporate Authorities held on the
22nd day of December, 2008, insofar as same relates to the adoption of an ordinance numbered
and entitled:
ORDINANCE NUMBER dQ0 - JdS
AN ORDINANCE authorizing and providing for the issue of
$2,020,000 General Obligation Refunding Bonds (Alternate
Revenue Source), Series 2008, of the United City of Yorkville,
Kendall County, Illinois, for the purpose of refunding a portion of
the City's General Obligation Bonds (Alternate Revenue Source),
Series 2005D, prescribing all the details of said bonds, and
providing for the collection and segregation of revenues sufficient
to pay such bonds.
a true, correct and complete copy of which said ordinance 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 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 said Meeting was duly given to all newspapers, radio or television stations, and other
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 Corporate Authorities by at least
I
�
5:00 p.m. on Friday, December 19, 2008; a true, correct and complete copy of the agenda is
attached hereto as Exhibit A; that the 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 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
22nd day of December, 2008.
City rk
(SEAL)
[Attach Agenda hereto as Exhibit A]
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i
0-0 Cop
, o United City of Yorkville
z�
' 800 Game Farm Road
EST. 1 less Yorkville, Illinois 60560
Telephone: 630 -553 -4350
Fax: 630 -553 -7575
<CE
AGENDA
CITY COUNCIL MEETING
CITY COUNCIL CHAMBERS
7:00 p.m.
Tuesday, Dece mber 22, 2 008
Call to Order:
Pledge of Allegiance:
Roll Call by Clerk: WARD I WARD II WARD III WARD IV
Wally Werderich Gary Golinski Marty Munns Joe Besco
Bob Allen Arden Joe Plocher Robyn Sutcliff Rose Ann Spears
,stablishment of Quorum:
Introduction of Guests:
Amendments to Agenda:
Committee Meeting Dates:
Public Works Committee Meeting
6:00 p.m., January 20, 2009
City Hall Conference Room
Economic Development Committee
7:00 p.m., January 6, 2009
City Hall Conference Room
Administration Committee Meeting
6:30 p.m., January 8, 2009
City Hall Conference Room
Public Safety Committee Meeting
6:00 p.m., January 22, 2008
City Hall Conference Room
Presentations:
1. Presentation of Certificate of Appreciation to the Sperling Foundation
City Council Meeting Agenda
December 22, 2008
Page 2
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- - - - - -- - - - - - --
Public Hearings: None
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Citizen Comments:
Consent Agenda:
1. PW 2008 -151 Nicor Facility (259 Commercial Drive)
a. Plat of Dedication and Easement Grant - authorize Mayor and City Clerk to execute
b. Grant of Easement - authorize Mayor and City Clerk to execute,
2. PW 2008 -152 Hampton Inn
a. Plat of Easement for Lot 2 of Menards Commercial Commons Third Addition - authorize Mayor
and City Clerk to execute
b. Plat of Easement for Lot 2 of Menards Commercial Commons Sixth Addition - authorize Mayor
and City Clerk to execute
3. PW 2008 -153 Windrose Medical Property— Grant of Permanent Sidewalk Easement Agreement -
authorize Mayor and City Clerk to execute
4. PW 2008 -154 Kendall Marketplace (IDOT Highway Permit #3 — 10399 -07) —Bond Reduction #1 -
authorize reduction in an amount not to exceed $4,046,490.89, subject to written concurrence from
IDOT and also subject to completion of the Route 34 punchlist
5. PW 2008 -155 Kendall Marketplace — Earthwork LOC Expiration - authorize City Clerk to call letter of
credit if it is not renewed prior to March 6, 2009
6. PW 2008 -156 Fox Hill Unit 7 — Letter of Credit Reduction #4 - authorize reduction in an amount not to
exceed $11,624,08, subject to verification that the developer has no outstanding debt owed to city
7. PW 2008 -157 Provena- Dreyer Medical Facility —Final Acceptance —accept public improvements for
watermain and sanitary sewer, subject to receipt of bill of sale, establishment of a one-year warranty
bond for the watermain and sanitary sewer, and keeping the existing letter of credit guaranteeing
completion of pond re- landscaping in place in the amount of $61,366. 01
8. PW 2008 -158 Water Department Report for September 2008
9. PW 2008 -159 Water Department Report for October 2008
10. PS 2008 -50 Police Reports for October 2008
11. PS 2008 -51 Request for Purchase of Two Squad Cars - approve purchase as presented
12. PS 2008 -53 Ordinance Amending the Code of Ordinances Regarding BASSET Training - authorize
Mayor and City Clerk to execute
13. PS 2008 -56 Ordinance Approving a Fine Schedule for the Pre - Payment of Certain Citations Pending
Under Administrative Adjudication - authorize Mayor and City Clerk to execute
Plan Commission / Zoning Board of Appeals:
1. ZBA 2008 -05 Ordinance Approving a Variance for Merlin Corporation at 102 Beaver Street, Yorkville
City Council Meeting Agenda
December 22, 2008
Page 3
Minutes for Approval (Corrections and Additions):
Minutes of City Council — None
Bill payments for approval from the current Bill List (Corrections and Additions):
Checks total these amounts:
$ 1,088,431.50 (vendors)
$ 279,824.27 (payroll period ending 12/6/08)
$ 1,368,255.77 (total)
Reports:
Mayor's Report
1. CC 2008 -90 Ordinance Authorizing and Providing for the Issue of $2,020,000 General Obligation
Refunding Bonds (Alternate Revenue Source), Series 2008, of the United City of Yorkville,
Kendall County, Illinois, for the Purpose of Refunding a Portion of the City's General Obligation
Bonds (Alternate Revenue Source), Series 2005D, Prescribing All the Details of Said Bonds, and
Providing for the Collection and Segregation of Revenues Sufficient to Pay Such Bonds (Rob
Roy Creek Interceptor)
2. CC 2008 -118 Boundary Agreements Discussion
City Council Report
1. CC 2008 -119 Anti - Nepotism Policy
2. CC 2008 -120 Employee Grievances
City Attorney's Report
City Clerk's Report
City Treasurer's Report
City Administrator's Report
Finance Director's Report
Director of Public Works Report
Chief of Police Report
Director of Parks & Recreation Report
Community Development Director Report
Community Relations Officer
Community & Liaison Report
City Council Meeting Agenda
December 22, 2008
Page 4
4;ommittee Reports:
Public Works Committee Report
1. PW 2008 -147 Game Farm Road /Somonauk Street - Additional Phase 2 Engineering
a. MFT Appropriation Resolution
b. Engineering Services Agreement Addendum No. 1
Economic Development Committee Report
1. No Report.
Public Safety Committee Report
1. PS 2008 -52 Ordinance Amending Code of Ordinances Regarding Hours of Package Liquor Sales
2. PS 2008 -54 Ordinance Amending Code of Ordinances Regarding Dogs Running at Large
3. PS 2008 -46 Code Amendment Ordinances
a. Ordinance Amending the Code of Ordinances Regarding Advertising on Signs and Buildings
b. Ordinance Amending the Code of Ordinances Regarding Fireworks
c. Ordinance Amending the Code of Ordinances Regarding Possession of Paint or Marker with Intent
to Deface
d. Ordinance Amending the Code of Ordinances Regarding Removal of Graffiti
e. Ordinance Amending the Code of Ordinances Regarding Cannabis
f. Ordinance Amending the Code of Ordinances Regarding Retail Theft (Shoplifting)
g. Ordinance Amending the Code of Ordinances Regarding Disorderly Conduct
h. Ordinance Amending the Code of Ordinances Regarding Trespassing on Property
Administration Committee Report
1. No Report.
Additional Business:
Executive Session:
Adjournment:
COMMITTEES, MEMBERS AND RESPONSIBILITIES
----------------------------------------
IPUBLIC WORKS
Committee Departments Liaisons
- hairman: Alderman Besco Water and Sewer Park Board
Vice- Chairman: Alderman Plocher Streets and Alleys YBSD
Committee: Alderwoman Sutcliff Sanitation and Waste
Committee: Alderman Allen
City Council Meeting Agenda
December 22, 2008
Page 5
COMMITTEES, MEMBERS AND RESPONSIBILITIES (con't)
r -------------------------------------------------------------------- I
[ECONOMIC DEVELOPMENT,'
---------------------------------------------------------------------------------------------------------------------------------------
Committee Departments Liaisons
Chairman: Alderman Golinski Planning & Building & Zoning Chamber of Commerce
Vice - Chairman: Alderman Allen Business & Economic Dev. Kendall County Econ. Dev.
Committee: Alderman Munns Plan Commission
Committee: Alderman Besco Bristol Plan Commission
Yorkville Econ. Dev. Corp.
Aurora Area Convention &
Tourism Council
Downtown Re-development
r--------------------------------------- i
]PUBLIK-SAFElyl ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Committee Departments Liaisons
Chairman: Alderwoman Spears Police Human Resource Comm.
Vice-Chairman: Alderwoman Sutcliff Schools School District
.ommittee: Alderman Werderich Public Relations KenCom
Committee: Alderman Plocher
WD M --- I --- N --- 1 --- T ---- R --- A ---- T_ - 1 --- 0 ---- N_ - 1
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Committee Departments Liaisons
Chairman: Alderman Munns Finance Metra
Vice-Chairman: Alderman Werderich Public Properties Library
Committee: Alderwoman Spears Personnel Cable Consortium
Committee: Alderman Golinski
HATE OF ILLINOIS
COUNTY OF KENDALL
STATE OF ILLINOIS ) - FILED
SS DEC 2 3 2008
COUNTY OF KENDALL ) COUNTY am
AJ�1CcL(:o _ KENDALL COUNTY
FILING CERTIFICATE
1, the undersigned, do hereby certify that I am the duly qualified and acting County Clerk
of Kendall County, Illinois, and as such official I do further certify that on the 23rd day of
December, 2008, there was filed in my office a duly certified copy of Ordinance No. 4008.
entitled:
AN ORDINANCE authorizing and providing for the issue of
$2,020,000 General Obligation Refunding Bonds (Alternate
Revenue Source), Series 2008, of the United City of Yorkville,
Kendall County, Illinois, for the purpose of refunding a portion of
the City's General Obligation Bonds (Alternate Revenue Source),
Series 2005D, prescribing all the details of said bonds, and
providing for the collection and segregation of revenues sufficient
to pay such bonds.
duly adopted by the City Council of the United City of Yorkville, Kendall County, Illinois, on
the 22nd day of December, 2008, and that the same has been deposited in the official files and
records of my office.
IN WITNESS WHEREOF I hereunto affix my official signature and the seal of said County,
this 23rd day of December, 2008.
County Clerk
Kendall County, Illinois
I SEALI