HomeMy Public PortalAbout12.19.88 VB Special Mtg Minutes•
PLAINFIELD VILLAGE BOARD OF TRUSTEES
SPECIAL MEETING
DATE: DECEMBER 8, 1988
AT: VILLAGE HALL
MEMBERS OF BOARD PRESENT: MAYOR LATTA, J. DEMENT, K. CALLANAN,
D, GULLICKSEN, L. KELLY, D. LEWIN.
J. BOOTZ WAS ABSENT.
OTHERS PRESENT: M. PUSINELLI - ADMINISTRATOR
V. KRNAC - VILLAGE CLERK
P. WALDOCK - PLANNER
Mayor Latta opened the meeting at 7:05 p.m.
Roll call was taken, J. Bootz was absent.
Mayor Latta stated the purpose of this Special Meeting is the
acceptance of bid and issuance of the $2,325,000 General
Obligation Bonds, Series 1988 and she introduced Mr. Ronald
Norene, president of R.V. Norene & Associates, Inc.
Mr. Norene stated bids were received at the Northern Trust Co.
today and in attendance were Lewis Greenbaum from Katten, Muchin
& Zavis, Bond Councel and himself. Approximately 1200 copies
of the referendum and official statement were mailed out over
the United States. We were assigned an "A" rating by Moody's
Investors Service and as had been put into the budget, we have
obtained Municipal Bond Insurance. We received six (6) bids.
Our best bid was an interest rate of 7.2754 from The First
National Bank of Chicago. The bottom line, the Village did very
well in the Market Place, we received six (6) bids, the single
"A" rating and the level of interest rate.
D. Gullicksen moved to adopt Ordinance No. 1189 An Ordinance
Authorizing The Issuance Of $2,325,000 General Obligation Bonds,
Series 1988, Of The Village Of Plainfield, Illinois. Seconded
by K. Callanan. Vote by roll call. Dement, yes; Callanan, yes;
Gullicksen, yes; Kelly, yes; Lewin, yes. 5 yes, 0 no. Motion
carried.
It was the consensus of the Board to cancel the Workshop scheduled
for Monday, December 12, 1988 at 7:00 p.m.
L. Kelly moved to adjourn. Seconded by D. Gullicksen. Voice
vote. 5 yes, 0 no. Motion carried.
. 7 16 p m
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Vera Krn c~ Village Clerk