Title
An Ordinance authorizing and providing for the issuance of $35,360,000 General Obligation Bonds (Sales Tax Alternate Revenue Source), Series 2008A, of The County of Lake, Illinois, for the purpose of providing new County buildings, 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
· The County Board has approved the sale of these bonds for the purpose of building the permitting, health and court facilities.
· The bonds will be sold on August 11, 2008
· This action is needed to issue the bonds and obligate the County to repay the bonds with all the terms set forth in the ordinance.
Body
August 12, 2008
Agenda Item _____
Ordinance Number ________
An Ordinance authorizing and providing for the issuance of $35,360,000 General Obligation Bonds (Sales Tax Alternate Revenue Source), Series 2008A, of The County of Lake, Illinois, for the purpose of providing new County buildings, 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.
Table of Contents
Section Heading Page
Preambles|910|Section 1. Definitions|910|Section 2. Incorporation of Preambles|910|Section 3. Determination to Issue Bonds|910|Section 4. Bond Details|910|Section 5. Execution; Authentication 10
Section 6. Book Entry Provisions 11
Section 7. Optional Redemption 13
Section 8. Term Bonds; Mandatory Redemption and Covenants; Effect of Purchase or Optional Redemption of Term Bonds 13
Section 9. Redemption Procedures 14
Section 10. Registration of Bonds; Persons Treated as Owners 19
Section 11. Form of Bonds 20
Section 12. Sale of Bonds 26
Section 13. Treatment of Bonds as Debt 26
Section 14. 2008 Alternate Bond Fund 27
Section 15. Use of Bond Proceeds; Project Fund 29
S...
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