Title
Joint resolution expressing official intent regarding certain capital expenditures to be reimbursed from proceeds of a bond obligation.
Staff Summary
· 2013 Bond Reimbursement Resolution.
· This reimbursement ordinance is for $52 million covering road improvements at various locations throughout the County.
· The County is undertaking road improvements at various locations throughout the County, and currently has sufficient funds from existing sources to begin construction.
· By passing this resolution, the County has the authority to begin the construction with existing funds, and later to issue bonds that will provide the additional revenue required to reimburse existing funds used and complete the projects.
Body
RESOLUTION NUMBER ___________
RESOLUTION OF NOVEMBER, 2012, of The County of Lake, Illinois, expressing official intent regarding certain capital expenditures to be reimbursed from proceeds of an obligation.
Whereas, The County of Lake, Illinois (the “County”), by its County Board, has determined it to be necessary or advisable for the public health, safety, welfare, and convenience to undertake the projects or purposes described as follows:
road improvements at various locations throughout the County including, but not limited to, the intersection of Rollins Road (County Highway 31) with IL Route 83 as well as grade separation of Rollins Road and the rail line of CN Railroad at such intersection, the intersection of Fairfield Road (County Highway 49) with IL Route 176 and Washington Street (County Highway 45) from Hainesville Road to Lake Street; and which work may include, but not be limited to, site improvements including demolition and remediation, rehabilitation, and public infrastructure improvements such as roadway improvements, grade separations (rail to road or pedestrian to road or other), bridges, intersections, sidewalks, curb and gutter, traffic signalization, landscaping, drainage and storm sewer improvements, pumping statio...
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