Lake County Illinois - File #: 11-0394

• File #: 11-0394
• Version: 1
• Name: Lake County General Obligation Bonds, Series 2011A: Bond Ordinance
• Type: ordinance
• Status: Passed
• File created: 4/25/2011
• In control: Public Works and Transportation Committee
• Final action: 5/10/2011
• Title: Ordinance authorizing and providing for the issuance of $20,000,000 General Obligation Bonds, Sales Tax Alternate Revenue Source, Series 2011A, of Lake County, Illinois, prescribing all the details of said bonds and providing for the imposition of taxes to pay the same, and for the collection, segregation and distribution of certain sales taxes received by the County.

Date	Ver.	Action By	Action	Result
5/10/2011	1	Lake County Board	adopted	Pass
5/4/2011	1	Financial & Administrative Committee	recommended for adoption to the consent agenda	Pass
5/4/2011	1	Public Works and Transportation Committee	approved and referred on to the Financial and Administrative Committee	Pass

Title

Ordinance authorizing and providing for the issuance of $20,000,000 General Obligation Bonds, Sales Tax Alternate Revenue Source, Series 2011A, of Lake County, Illinois, prescribing all the details of said bonds and providing for the imposition of taxes to pay the same, and for the collection, segregation and distribution of certain sales taxes received by the County.

Staff Summary

·      Lake County General Obligation Bonds, Series 2011A: Bond Ordinance

·      Lake County is issuing $20 million in general obligation bonds to provide road improvements to public roads within the County.

·      This ordinance prescribes all the details of said bonds and authorizes the issuance of $20 million, Series 2011A Bonds.

·      The bond sale occurred on May 9 at which time designated officials are authorized to approve the sale.  A report will be presented to the County Board at the May 10 board meeting summarizing the bond sale results.