HomeMy Public PortalAboutResolution 1225RESOLUTION NO. 1225
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 2. The Village of Plainfield, Illinois (the "Village" has determined to
undertake the construction of a water tower to be located at 119th Street and Van Dyke
Road in the Village and 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 $1,300,000.
Section 4. This declaration of official intent is consistent with the budgetary
and financial circunnstances of the Village.
Section 5. A copy of this resolution shall be filed immediately in the office of
the Village Clerk and shall be make available for public inspection in the manner
required by law.
Section 6. This resolution shall be operative and effective upon its passage.
Adopted this I st day of March, 1999.
ichar ock,
Village President
(SEMI; )
_- Attest:
._ Village Clerk _ if
~/