Title
Resolution approving Recovery Zone bond allocations to various cities, towns and villages within Lake County, and authorizing the Board Chairman to execute related intergovernmental agreements governing the use of allocation.
staff summary
• On February 9, 2010, the County Board approved a program for distributing recovery zone bond allocations to cities, towns and villages within Lake County.
• On Friday, March 5, 2010, a lottery will be held to determine allocations.
• The results of this lottery will come to the full board for final approval.
• It is also necessary to authorize the execution of intergovernmental agreements to govern the allocation of these funds.
body
WHEREAS, the County Board approved a program for distributing recovery zone bond allocations to cities, villages and towns within Lake County; and
WHEREAS, a lottery was held on Friday, March 5, 2010 to determine the allocations; and the results of the lottery are hereby attached; and
WHEREAS, the County Board approved that these allocations would come directly to the County Board for approval; and
WHEREAS, it is now necessary to authorize the Board Chairman to execute the intergovernmental agreements related to these allocations.
NOW, THEREFORE, BE IT RESOLVED, by this County Board of Lake County, Illinois, that the recipients of the allocations as determined by lottery on March 5th are attached and are hereby approved by the County Board and the Board Chairman is authorized to execute the intergovernmental agreements substantially in the form attached.
DATED, at Waukegan, Lake County, Illinois, on this 16th day of March, A.D., 2010.