Title
An Ordinance authorizing the issuance by The County of Lake, Illinois, of General Obligation Bonds (Sales Tax Alternate Revenue Source) in an aggregate principal amount not to exceed $31,000,000 for the purpose of constructing and equipping a consolidated 911 and emergency operations center, improving the site thereof, and financing other capital expenditures, in and for the County.
Staff Summary
• The Lake County Board has authorized the issuance of bonds for the Regional Operations Center for 911 and emergency operations. The attached ordinance and related documents, which contains forms that currently contain blanks, will be completed and filed appropriately upon approval to authorize the notice of a public hearing to authorize bonds as well as the authority to authorize $31 million to fund a portion of the construction and equipping expenses of the building.
• Additional funding includes a $1 million federal capital grant and $9,900,000 in American Rescue Plan Act funding. Other necessary expenses, if any, will be funded from Lake County capital reserves.
• Upon approval, Lake County will publish the Authorizing Ordinance and post the publication of the Public Hearing, which will be held July 12, 2022.
Body
ORDINANCE
Whereas, The County of Lake, Illinois (the “County”), is a duly organized and existing unit of local government created and existing under the provisions of the laws of the State of Illinois, and is now operating under the provisions of the Counties Code of the State of Illinois, as amended; and
Whereas, in order to construct and equip a consolidated 911 and emergency operations center, improve the site thereof, and finance other capital expenditures, all in and for the County and to support the 911 Dispatch Center, the Emergency Management Agency, and the Emergency Telephone Systems Board, and to create shared staff support areas and shared facility support areas (collectively, the “Project”), the County Board of the County (the “Board”) has determined that it is necessary and in the best interests of the County that the County borrow an amount not to exceed $31,000,000 and, in evidence thereof, issue alternate bonds in an aggregate principal amount not to exceed $31,000,000, all in accordance with the Local Government Debt Reform Act of the State of Illinois, as amended (the “Act”); and
Whereas, the revenue source that will be pledged to the payment of the principal of and interest on the alternate bonds will be payable, together and on a parity with the County’s outstanding General Obligation Bonds (Sales Tax Alternate Revenue Source), Series 2015A, and General Obligation Refunding Bonds (Sales Tax Alternate Revenue Source), Series 20018, from receipts from sales taxes received by the County pursuant to the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailer’s Occupation Tax Act, including any replacement, successor or substitute taxes (the “Pledged Revenues”); and
Whereas, if the Pledged Revenues are insufficient to pay the alternate bonds, ad valorem property taxes upon all taxable property in the County without limitation as to rate or amount are authorized to be extended to pay the principal of and interest on the alternate bonds:
Now, therefore, It Is Hereby Ordained by the County Board of The County of Lake, Illinois, as follows:
Section 1. Incorporation of Preambles. The Board hereby finds that all of the recitals contained in the preambles to this Ordinance are full, true and correct and does incorporate them into this Ordinance by this reference.
Section 2. Determination To Issue Bonds. In order to pay all or a portion of the Project, it is necessary and in the best interests of the County that the County borrow an amount not to exceed $31,000,000 and, in evidence thereof, alternate bonds of the County are hereby authorized to be issued and sold in an aggregate principal amount not to exceed $31,000,000 (the “Bonds”).
Section 3. Publication. This Ordinance, together with a notice in the statutory form, shall be published in the News-Sun, being a newspaper having general circulation in the County. If no petition, signed by not less than 36,470 electors of the County (said number of electors being equal to 7.5% of the registered voters in the County) asking that the question of the issuance of the Bonds be submitted to referendum, is filed with the County Clerk of the County (the “County Clerk”) within thirty (30) days after the date of the publication of this Ordinance and said notice, then the Bonds shall be authorized to be issued. A petition form shall be provided by the County Clerk to any individual requesting one.
Section 4. Additional Ordinances. If no petition meeting the requirements of applicable law is filed during the petition period hereinabove referred to, then the Board may adopt additional ordinances or proceedings supplementing or amending this Ordinance providing for the issuance and sale of the Bonds, and prescribing all the details of the Bonds, so long as the maximum aggregate principal amount of the Bonds as set forth in this Ordinance is not exceeded and there is no material change in the purposes described herein. Such additional ordinances or proceedings shall in all instances become effective immediately without publication or posting or any further act or requirement. This Ordinance, together with such additional ordinances or proceedings, shall constitute complete authority for the County to issue the Bonds in accordance with applicable law.
Section 5. Severability. If any section, paragraph, clause or provision of this Ordinance shall be held invalid, the invalidity of such section, paragraph, clause or provision shall not affect any of the other provisions of this Ordinance.
Section 6. Repealer and Effective Date. All ordinances, resolutions or orders, or parts thereof, in conflict with the provisions of this Ordinance are to the extent of such conflict hereby repealed and this Ordinance shall be in full force and effect forthwith upon its adoption.
Passed by the County Board of The County of Lake, Illinois, this 14th day of June, 2022.
Chair of the County Board of
The County of Lake, Illinois
Attest
_________________________________
County Clerk,
The County of Lake, Illinois