Lake County Illinois - File #: 13-1053

• File #: 13-1053
• Version: 1
• Name: Lake County General Obligation Bonds, Series 2013: Bond Ordinance
• Type: ordinance
• Status: Regular Agenda
• File created: 9/24/2013
• In control: Public Works and Transportation Committee
• Final action: 10/8/2013
• Title: Ordinance authorizing and providing for the issuance of $30,000,000 General Obligation Bonds, Sales Tax Alternate Revenue Source, Series 2013, 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
10/8/2013	1	Lake County Board	adopted	Pass
10/2/2013	1	Financial & Administrative Committee	recommended for adoption to the regular agenda	Pass
10/2/2013	1	Public Works and Transportation Committee	recommended for adoption to the consent agenda	Pass

Title

Ordinance authorizing and providing for the issuance of $30,000,000 General Obligation Bonds, Sales Tax Alternate Revenue Source, Series 2013, 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 2013: Bond Ordinance.

·      Lake County is issuing $30,000,000 in general obligation bonds to provide road improvements to public roads within the County.

·      This ordinance establishes the terms, provisions and limitations of the bond sale and authorizes the issuance of $30,000,000, Series 2013 Bonds.

·      The bond sale is scheduled to occur on November 6, 2013, at which time designated officials are authorized to approve the sale.  A report will be presented to the County Board at the November 12, 2013 board meeting summarizing the bond sale results.