HomeMy Public PortalAboutResolution 1516RESOLUTION NO. /s~~
RESOLUTION OF THE VILLAGE OF PLAINFIELD, ILLINOIS DECLARING
ITS OFFICIAL INTENT TO REIMBURSE CERTAIN CAPITAL
EXPENDITURES FROM THE PROCEEDS OF FUTURE DEBT ISSUES
BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE
VILLAGE OF PLAINFIELD, ILLINOIS, AS FOLLOWS:
Section 1. The purpose of this resolution, is to satisfy the "Official Intent
Requirement" of Treasury Regulations Section 1.150-2.
Section ~. The Village of Plainfield, Illinois (the "Village") has determined (i) to
undertake the acquisition of approximately 58 acres of land and other expenditures
related to the transportation center to be located east of Wood Farm Road and Van
Dyke Road, south of 143rd Street, west of the Eligin, Joliet and Eastern Railway right of
way, and north and south of the Village's wastewater treatment plant access road,
which property is commonly known as 14801 South Wood Farm Road and (ii) to expend
funds to pay costs of such capital improvement.
Section 3. The Village reasonably expects to be reimbursed for such
expenditures with proceeds of its debt. The maximum principal amount of debt
expected to be issued for the reimbursement of such expenditures is $7,500,000.
Section 4. This declaration of official intent is consistent with the budgetary
and financial circumstances of the Village.
Section 5. A copy of this resolution shall be filed immediately in the office of
the Village Clerk and shall be made available for public inspection in the manner
required by law.
Section 6. This resolution shall be operative and effective upon its passage.
Adopted this 18t" day of December, 2Q06.
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