Title
ORDER calling a public hearing concerning the intent of the County Board of The County of Lake, Illinois, to sell $31,000,000 General Obligation Bonds (Sales Tax Alternate Revenue Source).
Staff Summary
* The Lake County Board has authorized the issuance of bonds for the Regional Operations Center for 911 and emergency operations. The attached public hearing notice will be filed appropriately upon approval to notify the public of the intent to issue $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
ORDER
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, the County Board of the County (the "County Board") intends to sell bonds in the amount of $31,000,000 for the purpose of constructing and equipping a consolidated 911 and emergency operations center and improving the site thereof, and financing other capital expenditures, all in and for the County (the "Bonds"); and
WHEREAS, the Bond Issue Notification Act of the State of Illinois, as amended, requires the County Board to hold a public hearing concerning the County Board's intent to sell the Bonds before adopting an ordinance providing for the sale of the Bonds:
NOW, THEREFORE, Be It and It is Hereby Ordered by the undersigned Chair of the County Board of The County of Lake, Illinois, as follows:
1. I hereby call a public hearing to be held at 9:00 o'clock A.M...
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