Ordinance #553
1/25/2021
NOTICE OF INTENT TO ISSUE BONDS
AND RIGHT TO FILE PETITION
Notice is hereby given that pursuant to Ordinance No. 553, adopted January 18, 2021, the President and Board of Trustees of the Village of Greenview, Menard County, Illinois (the “Municipality”), intends to issue its sewerage system revenue bonds (howsoever styled, the “Bonds”) at one time or from time to time as funds are needed up to but in any event not to exceed $4,892,000 in aggregate principal amount for the purpose of paying the costs of the acquisition, construction and installation of sewerage system improvements, and related facilities, improvements and costs (the “Project”), to constitute a part of the Municipality’s sewerage system (the “System”).
In addition, notice is hereby given that if a petition signed by not less than 54 electors of the Municipality requesting that the question of so acquiring, constructing, and improving the System facilities constituting the Project, and the issuance of sewerage system revenue bonds therefor be submitted to the Village Clerk within thirty (30) days of the date of publication hereof and of the above ordinance, the question of so acquiring, constructing, improving such facilities and the issuance of Bonds therefor shall be submitted to the electors of the Municipality at the consolidated election to be held on April 6, 2021, if such election is held and such question can be and is submitted, and otherwise at the next or prior election at which such question could be so submitted. A form of petition is available in the Village Clerk’s office.
/s/ Monica Brumm
Village Clerk, Village of Greenview,
Menard County, Illinois
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ORDINANCE NO. 553
AN ORDINANCE AUTHORIZING THE ISSUANCE OF UP TO $4,892,000 SEWERAGE SYSTEM REVENUE BONDS OF THE VILLAGE OF GREENVIEW, MENARD COUNTY, ILLINOIS, FOR THE PURPOSE OF DEFRAYING THE COST OF ACQUIRING, CONSTRUCTING, IMPROVING AND EXTENDING SEWERAGE FACILITIES, AND RELATED MATTERS.
PREAMBLES
WHEREAS, the Village of Greenview, Menard County, Illinois (the “Municipality”), owns and operates a separate sewerage system (the “System”) in accordance with the provisions of applicable law concerning municipal sewerage systems [Section 5/11-141-1 et seq. of Chapter 65 of the Illinois Compiled Statutes, as supplemented and amended, including by the Local Government Debt Reform Act (collectively, the “Act”)]; and
WHEREAS, the President and Board of Trustees of the Municipality (the “Corporate Authorities”) has determined that it is advisable, necessary and in the best interests of the Municipality’s public health, safety and welfare to undertake a project for the acquisition, construction and installation of sewerage system improvements (together with all required mains, lines, structures, equipment, appurtenances and fixtures, all electrical, mechanical or other work and the acquisition of land or rights in land necessary, useful or advisable in connection with such work, and as such work may progress in one or more phases, and other related costs, the “Project”), substantially in accordance with the preliminary plans, specifications and cost estimate therefor prepared by the consulting engineer therefor; and
WHEREAS, the estimated cost of the Project, including necessary interest during acquisition, construction and installation, engineering, legal, financial, bond discount, printing and publication costs and other expenses preliminary to and in connection with the Project, is anticipated to be $8,544,000, of which $4,892,000 is to be paid from proceeds of the hereinafter described Bonds; and
WHEREAS, costs of the Project are expected to be paid from grant proceeds and from proceeds of Bonds payable from the revenues of the System and issued pursuant to the Act, this ordinance and ordinances supplemental to or amending this ordinance authorizing and providing for the issuance of the Bonds, prescribing the details of such Bonds and providing for the collection, segregation and distribution of the revenues of the System; and
WHEREAS, the Municipality has insufficient funds to pay costs of the Project and, therefore, must borrow money and issue the Bonds in evidence thereof, at one time or from time to time and in one or more series, up to the aggregate principal amount of $4,892,000 for such purpose, pursuant to and in accordance with the provisions of the Act.
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF GREENVIEW, MENARD COUNTY, ILLINOIS, as follows:
Section 1. Incorporation of Preambles and Determination to Issue Bonds. The Corporate Authorities hereby find that all of the recitals contained in the preambles to this ordinance are true, complete and correct and hereby incorporate them into this Section 1 of this ordinance by this reference. It is necessary and in the best interests of the Municipality to acquire, construct and install the Project for the public health, safety and welfare, in accordance with the plans and specifications, as described above, that the System be operated as a separate sewerage system in accordance with the provisions of the Act, and that for the purpose of acquiring, constructing and installing the Project there are hereby authorized to be issued and sold sewerage system revenue bonds of the Municipality in an aggregate principal amount up to but in any event not to exceed $4,892,000 (howsoever styled, the “Bonds”).
Section 2. Publication and Notice. There is no newspaper published in the Municipality, and its population is 778 under the most recent federal census figures. Within 10 days after the adoption of this ordinance, this ordinance shall be published in a newspaper with a general circulation within the Municipality. If no petition, signed by not less than registered voters of the Municipality being equal to ten percent (10%) of the registered voters of the Municipality, asking that the question of undertaking the Project and of issuing the Bonds to pay the cost thereof be submitted to the electors of the Municipality, is filed with the Village Clerk of the Municipality within thirty (30) days after the date of the publication of this ordinance and such notice, then this ordinance shall be in full force and effect. If such petition is filed, an election on the question shall be held as set forth in the form of notice attached to this ordinance. The Village Clerk shall have available and provide a form of petition to any person requesting one. The Village Clerk shall give notice of the foregoing provisions substantially as set forth in the form of the notice presented at the meeting of the Corporate Authorities at which this ordinance is adopted, completed and modified as may be required to comply with the Act together with a publication of this ordinance.
Section 3. Additional Ordinances. If no petition meeting the requirements of applicable law is filed as provided above in Section 2 and there is no material change in the Project and otherwise as herein described, then the Corporate Authorities in accordance with and pursuant to the Act may adopt additional ordinances or other proceedings supplemental to or amending this ordinance, providing for the issuance and sale of up to but in any event not to exceed $4,892,000 of its Sewerage System Revenue Bonds, prescribing the details of such Bonds, and providing for the collection, segregation and distribution of the revenues of the System and the acquisition, construction and installation of the Project. Such additional or supplemental ordinances or other proceedings shall in all instances become effective in accordance with otherwise applicable law; and this ordinance, together with such supplemental and additional ordinances or other proceedings, shall constitute complete authority for the issuance of the Bonds under applicable law.
Section 4. Severability and Repealer. 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. 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.
Upon motion by Trustee Hofmann, seconded by Trustee Van Cleve, adopted (and recorded in the Municipality’s records) this 18th day of January, 2021, by roll call vote, as follows:
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AYES (names): |
Elizabeth Soldwedel, Norman Hofmann, Patrick Feagans, Raymond VanCleve |
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NAYS (names): |
n/a |
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ABSENT (names): |
Roy Lee, Sarah Heavner |
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Attest: |
Approved: January 18, 2021
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/s/ Monica Brumm Village Clerk, Village of Greenview, Menard County, Illinois
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/s/ Kevin Curry Village President, Village of Greenview, Menard County, Illinois |