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Home My WebLink About93-265 Resolution No. 93-265 RESOLUTION CONCURRING IN THE ISSUANCE OF INDUSTRIAL REVENUE BONDS BY THE ILLINOIS DEVELOPMENT FINANCE AUTHORITY ON BEHALF OF OLIVE CAN COMPANY IN AN AMOUNT NOT TO EXCEED $5,268, 000 WHEREAS, the Illinois Development Finance Authority has heretofore approved an application to issue industrial revenue bonds on behalf of Olive Can Company in an amount not to exceed $5,268, 000; and WHEREAS, Olive Can Company will use the proceeds of the bond issue to finance the purchase of land, the construction of a manufacturing facility, and the equipping thereof, at the Fox Bluff Industrial Park on McLean Boulevard, Elgin, Illinois; and WHEREAS, pursuant to Section 6 . 1 of the Illinois Development Finance Authority Act notice has been submitted to the corporate authorities of the City of Elgin; and WHEREAS, it is in the best interest of the City of Elgin to approve the issuance of revenue bonds as proposed. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS, that it hereby approves the issuance by the Illinois Development Finance Authority of industrial revenue bonds on behalf of Olive Can Company in an amount not to exceed $5 ,268, 000 for the purpose of financing the purchase of land, the construction of a manufacturing facility, and the equipping thereof, at the Fox Bluff Industrial Park on McLean Boulevard, Elgin, Illinois . BE IT FURTHER RESOLVED that the City Clerk be and is hereby authorized and directed to cause a certified copy of this resolution to be mailed by certified or registered mail to the Illinois Development Finance Authority. s/ George VanDeVoorde George VanDeVoorde, Mayor Presented: October 13, 1993 Adopted: October 13, 1993 Vote: Yeas 7 Nays 0 Attest: s/ Dolonna Mecum Dolonna Mecum, City Clerk TELEPHONE 708/931-6100 lt!ilhlcopy FAX 708/931-5610 FOR HEARING IMPAIRED El?), TDD 708/931-5616 '� CITY OF ELGIN 150 DEXTER COURT ELGIN, ILLINOIS 60120-5555 ,y Git �p°#4,10 Direct Line ( 708) 931-5660 October 20, 1993 Illinois Development Finance Authority Attention: Legal Department Two North LaSalle Street, Suite 980 Chicago, IL 60602 Re: Olive Can Company #1485-IRB Ladies and Gentlemen: At its meeting on October 13, 1993, the Elgin City Council adopted a resolution concurring in the issuance of Industrial Revenue Bonds by the Illinois Development Finance Authority on behalf of Olive Can Company in an amount not to exceed $5,268, 000 . Said bond proceeds will be used to finance the purchase of land, the construction of a manufacturing facility, and the equipping thereof, located in the Fox Bluff Industrial Park on McLean Boulevard in Elgin, Illinois . A certified copy of the aforesaid resolution is enclosed. Very truly yours, Dolonna "Loni" Mecum City Clerk dkm Enclosure Certified Mail (i) Printed on recycled paper State of Illinois) County of Kane ) ss . City of Elgin CERTIFICATE OF CITY CLERK I , Dolonna Mecum, DO HEREBY CERTIFY that I am the City Clerk of the City of Elgin, in the Counties of Kane and Cook in the state of Illinois, and that as such City Clerk I am the keeper and custodian of the files and records of said City of Elgin and the seal thereof . I DO FURTHER CERTIFY that the attached is a full, true, and correct copy of Resolution No. 93-265 entitled "A Resolution Concurring in the Issuance of Industrial Revenue Bonds by the Illinois Development Finance Authority on Behalf of Olive Can Company in an Amount Not to Exceed $5,268, 000" , adopted by the Elgin City Council at its meeting held on October 13 , 1993, the original of which is entrusted to my care for safe keeping. In Witness Whereof, I have hereunto set my hand and affixed the corporate seal of the City of Elgin at the said City in the County and State aforesaid this October 14 , 1993 . P' ?:074.44Z City Cler �u� (SEAL) Resolution No. 93-265 RESOLUTION CONCURRING IN THE ISSUANCE OF INDUSTRIAL REVENUE BONDS BY THE ILLINOIS DEVELOPMENT FINANCE AUTHORITY ON BEHALF OF OLIVE CAN COMPANY IN AN AMOUNT NOT TO EXCEED $5,268, 000 WHEREAS, the Illinois Development Finance Authority has heretofore approved an application to issue industrial revenue bonds on behalf of Olive Can Company in an amount not to exceed $5,268, 000; and WHEREAS, Olive Can Company will use the proceeds of the bond issue to finance the purchase of land, the construction of a manufacturing facility, and the equipping thereof, at the Fox Bluff Industrial Park on McLean Boulevard, Elgin, Illinois; and WHEREAS, pursuant to Section 6 . 1 of the Illinois Development Finance Authority Act notice has been submitted to the corporate authorities of the City of Elgin; and WHEREAS, it is in the best interest of the City of Elgin to approve the issuance of revenue bonds as proposed. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS, that it hereby approves the issuance by the Illinois Development Finance Authority of industrial revenue bonds on behalf of Olive Can Company in an amount not to exceed $5, 268, 000 for the purpose of financing the purchase of land, the construction of a manufacturing facility, and the equipping thereof, at the Fox Bluff Industrial Park on McLean Boulevard, Elgin, Illinois . BE IT FURTHER RESOLVED that the City Clerk be and is hereby authorized and directed to cause a certified copy of this resolution to be mailed by certified or registered mail to the Illinois Development Finance Authority. s/ George VanDeVoorde George VanDeVoorde, Mayor Presented: October 13, 1993 Adopted: October 13, 1993 Vote: Yeas 7 Nays 0 Attest: s/ Dolonna Mecum Dolonna Mecum, City Clerk SPEED MESSAGE FROM TO crcie—WL /40c A-1. I/2W SUBJECT ---t 6/ DATE `1 / / 3 At<X (4-(-411-(/ 6a46;;(/ 2g 471, (c, •‹. I • 4: , /1. (71a _ y ot_kel Ace _4,47 9 z <./.A. 2,0 �•-'j,"1. C W r G P_. / / 7 7 2 SIGNED WilsonJones•carc,«,kass•Mno[IN usi na-900 Dupl¢a1e DUPLICATE ILLINOIS DEVELOPMENT FINANCE AUTHORITY September 20, 1993 Via Certified Mail Ms. Dolonna Mecum City Clerk City of Elgin 150 Dexter Court Elgin, Illinois 60120-5557 Re: Olive Can Company #1485-IRB Dear Ms. Mecum: At a regular meeting of the Illinois Development Finance Authority held in Chicago, Illinois, on September 15, 1993, the members of the Illinois Development Finance Authority approved an application to issue Tax-Exempt Industrial Revenue Bonds on behalf of Olive Can Company. The amount of such bonds to be issued on behalf of the applicant is now estimated at an amount not to exceed $5,268,000. The proceeds of the bond issue will be used to finance the purchase of land, the construction of a manufacturing facility, and the equipping thereof, located in the Fox Bluff Industrial Park on McLean Blvd., Elgin, Illinois. Following is the pertinent provision of Section 6.1 of the Illinois Development Finance Authority Act, Illinois Revised Statutes 1989, ch. 48, par. 850.01 et seq, which Ch'cagoO"'«: describes one of the conditions that must be met before bonds (the statutory definition 2 Smite 980LaSalleorth of which includes other indebtedness) may be issued by the Authority: Chicago.Illinois 60602-9897 312/793-5586 The Authority shall not issue any bonds relating to the financing of an Downstate Whew industrial project located within the planning and subdivision control 400 East DeYoung jurisdiction of any municipality unless: (1) notice, including a description M��onluno7s62959-0397 39 of the proposed project and the financing therefor, is submitted to the 618/997-6318 corporate authorities of such municipality; and (2) such corporate authorities, within 45 days after mailing of the notice, have failed to notify s,,.►sgl►.E�o tlk.: the Authority that the municipality has adopted a resolution disapproving 300 West Suite 202 the industrial project or have notified the Authority that the municipality has Spnngheld.IL 62 704-190 7 adopted a resolution approving the industrial project. 217/524-1567 or 217/524-5413 Chicago Fax 312/793-6347 Springfield Fax 217/744-0551 TDD# 1-800-526-0844 Voice# 1-800-526-0857 Ms. Dolonna Mecum City Clerk Page 2 Please be advised that the corporate authorities of Elgin, Illinois, have 45 days after the mailing date of this letter to adopt either of the aforesaid resolutions. If the Authority has not been notified of the adoption of any such resolution within 45 days, it will assume that the corporate authorities have no objections to this project. Please send notification of the adoption of an approving or disapproving resolution, and a certified copy of the pertinent resolution by registered or certified mail to: ILLINOIS DEVELOPMENT FINANCE AUTHORITY Two North LaSalle Street Suite 980 Chicago, IL 60602 Attn: Legal Department If you have any questions concerning this matter, please contact Stephen F. Welcome of our office at (312) 793-5586. Sincerely, ILLINOIS DEVELOPMENT FINANCE AUTHORITY By: Philip L Howe Acting cutive Director PH/js (45day-sep-3) cc: Client Bond Counsel Issuer's Counsel IDFA File # 1485-IRB Certified Receipt Number: P 914-405-073