Title
Joint resolution appropriating $150,000 of ¼% Sales Tax for Transportation and Public Safety funds for the closing costs associated with the of sale of not to exceed $32,000,000 Taxable General Obligation Bonds (Sales Tax Alternate Revenue Source), Series 2010A, and designated as Section 10-00999-15-GB.
Staff Summary
• 2010A Taxable GO Bonds Closing Cost: Appropriation
• The sale of the Series 2010A Taxable General Obligation Bonds, $32,000,000, is complete.
• The closing is December 15, 2010 with estimated closing costs of $130,000.
• Invoices totaling $66,800 are payable prior to closing.
• This resolution appropriates $150,000 of ¼% Sales Tax for Transportation and Public Safety funds for the closings cost associated with the sale.
Body
R E S O L U T I O N
WHEREAS, Lake County completed the sale of not to exceed $32,000,000 Taxable General Obligation Bonds (Sales Tax Alternate Revenue Source), Series 2010A; and
WHEREAS, the closing date for the sale of the bonds is December, 15, 2010 with estimated closing costs of $130,000; and
WHEREAS, invoices totaling $66,800 are payable prior to closing.
NOW, THEREFORE BE IT RESOLVED, by this County Board of Lake County that there is hereby appropriated $150,000 of Sales Tax for Transportation and Public Safety funds for the closing costs associated with the of sale of not to exceed $32,000,000 Taxable General Obligation Bonds (Sales Tax Alternate Revenue Source), Series 2010A, and designated as Section 10-00999-15-GB.
DATED at Waukegan, Illinois, on November 16, 2010.