Lake County Illinois - File #: 15-0354

• File #: 15-0354
• Version: 1
• Name: Ordinance authorizing Series 2015 Bonds
• Type: ordinance
• Status: Passed
• File created: 3/31/2015
• In control: Law & Judicial Committee
• Final action: 4/14/2015
• Title: Ordinance providing for the issuance of not to exceed $90,000,000 General Obligation Bonds (Sales Tax Alternate Revenue Source) for the financing of certain capital improvement projects, prescribing details of said bonds, providing for the imposition of taxes to pay the same, providing for the collection, segregation and distribution of certain sales taxes, and authorizing the sale of said bonds to the purchaser thereof.

Date	Ver.	Action By	Action	Result
4/14/2015	1	Lake County Board	adopted	Pass
4/8/2015	1	Financial & Administrative Committee	recommended for adoption to the regular agenda	Pass
4/7/2015	1	Law & Judicial Committee	recommended for adoption to the consent agenda	Pass

Title

Ordinance providing for the issuance of not to exceed $90,000,000 General Obligation Bonds (Sales Tax Alternate Revenue Source) for the financing of certain capital improvement projects, prescribing details of said bonds, providing for the imposition of taxes to pay the same, providing for the collection, segregation and distribution of certain sales taxes, and authorizing the sale of said bonds to the purchaser thereof.

Staff Summary

·      Lake County is issuing $90,000,000 in general obligation (sales tax alternate revenue source) bonds to provide court facilities improvements in and for the County.

·      This ordinance establishes the terms, provisions and limitations of the bond sale and authorizes the issuance of $90,000,000, Series 2015 Bonds.

·      The ordinance, prepared by the County's Bond Counsel, is attached.