92-297 RESOLUTION
AUTHORIZING ACCEPTANCE OF TENDER OFFER FOR CITY SHARES
IN SIG HOLDINGS, INC.
WHEREAS, the City of Elgin has received certain shares of
preferred stock in Sig Holdings, Inc. as a result of the
conversion of a mutual insurance company, of which the City of
Elgin was a policy holder, to the stock company; and
WHEREAS, Sig Holdings, Inc. has offered to purchase said
shares, for which there is no established trading market; and
WHEREAS, the sale of said shares is in the city' s best
interest.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF ELGIN, ILLINOIS, that James Bolerjack, Jr. be and is
hereby authorized to accept the offer of Sig Holdings, Inc.
dated November 12, 1992, and to execute such documents as may
be necessary and appropriate for such purposes .
s/ George VanDeVoorde
George VanDeVoorde, Mayor
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Presented: December 2, 1992
Adopted: December 2, 1992
Vote: Yeas 7 Nays 0
Recorded:
Attest:
s/ Dolonna Mecum
Dolonna Mecum, City Clerk
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