HomeMy Public PortalAbout11-01-1999 Public HearingPLAINFIELD VILLAGE BOARD OF TRUSTEES
PUBLIC HEARING
DATE:
NOVEMBER 1, 1999
AT: VILLAGE HALL
BOARD PRESENT:
R. ROCK, R. SMOLICH, S. CALABRESE, M. COLLINS
J. CHERRY, K. O'CONNELL. TRUSTEE RATHBUN
WAS ABSENT.
OTHERS PRESENT:
M. EITING - LIEUTENANT
H. HAMILTON - ENGINEER
B. KUJATH - DEPUTY CLERK
C. MINICK - FINANCE DIRECTOR
J. DURBIN - COMMUNITY DEVELOPMENT
J. HARVEY - ATTORNEY
A. PERSONS - PUBLIC WORKS
D. CARROLL - PLANNER
At 7:10 p.m. President Rock opened the Public Heating on the Illinois Health
Corporation regarding proposed Revenue Bonds.
J. Harvey, attorney briefed the Board. The Village was approached to possibly issue
Industrial Revenue Bonds to finance the purchase, expansion, and improvements of some
other capital items for the Lakewood Facility on Eastern Avenue, Plainfield in the
amount of $5,800,000.00. Subsequently, the Village of Lemont agreed to issue bonds in
the amount of $67,380,000.00, and apparently the borrower approached Lemont to issue
all the bonds to save issuance costs of borrowing and therefore isn't looking for the
Village to issue these Industrial Revenue Bonds. They are going to ask that Lemont issue
bonds not only for facilities in the Village of Lemont, but also the facility in Plainfield
and approximately 6 other locations in Illinois. A subsidiary is also looking to acquire 5
nursing homes in the State of Wisconsin. So the reason Plainfield is holding this hearing
is because the Lakewood Center is in the Village of Plainfield. We are not being sought
to issue bonds any longer, but merely to hold a Public Hearing, hear comments, make a
record, close the hearing, and just demonstrate proof that we held a hearing.
There was no public comment and no representatives from Ice, Miller, Donadio & Ryan
in the audience, and no questions were asked on the part of the Board.
Calabrese moved to close the Public Hearing and return to the regular meeting.
Seconded by Cherry. Vote by roll call. Calabrese, yes; Cherry, yes; Collins, yes;
O'Connell, yes; Smolich, yes. 5 yes, 0 no, 1 absent. Motion carried.
The Public Hearing was closed at 7:22 p. m.