HomeMy Public PortalAboutResolution 1560RESOLUTION NO. 1560
RESOLUTION AUTHORIZING THE RETENTION OF
PROFESSIONAL CONSULTANTS TO PREPARE A VALUATION
OF THE AMERICAN LAKE WATER COMPANY PIPELINE.
WHEREAS, the Villages of Bolingbraok, Plainfield, Homer Glen and Woodridge
(the "Villages") receive Lake Michigan water through a pipeline that is owned and operated by
American Lake Water Company (the "Pipeline"); and
WHEREAS, the Villages have previously authorized that a preliminary study of the fair
market value of the Pipeline be performed by the firms of Postl-Yore and Crowe Chizek (the
"Professional Consultants") and Tressler, Soderstrom, Maloney &Priess, LLP (legal counsel);
and
WHEREAS, based upon the results of the preliminary study, the Villages have mutually
agreed to proceed with a more detailed valuation of the Pipeline in order to patentially formulate
the basis for a good faith offer to acquire the Pipeline, should the Villages ultimately determine
that acquisition is in their best interests;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE
VILLAGE OF PLAINFIELD, WILL/KENDALL COUNTY, ILLINOIS, AS FOLLOWS:
The Village hereby accepts the proposal provided by Postl-Yore, Crowe Chizek, and.
Tressler, Soderstrom, Maloney &Priess, LLP to provide professional consultant services at a
total cost to the Village of Plainfield not to exceed $12,000.
PASSED this 2"d day of June, 2008
_... ,
VILLAGE CLERK
APPROVED THIS 3rd day of June, 2008
VILLACxE. CLERK-