notice and agenda - Village of Oswego

Transcription

100 Parkers Mill • Oswego, Illinois 60543
(630) 554-3618 • Fax: (630) 554-3306
Website: http//www.oswegoil.org
NOTICE AND AGENDA
REGULAR MEETING
OSWEGO VILLAGE PRESIDENT AND BOARD OF TRUSTEES
October 21, 2014
at 7:00 P.M. (or immediately following the Committee of the Whole Meeting)
Location: Oswego Village Hall, 100 Parkers Mill, Oswego, IL
Next Ordinance Number 14-87; Next Resolution Number 14-R-54
A.
CALL TO ORDER AND PLEDGE OF ALLEGIANCE TO THE FLAG OF THE UNITED
STATES OF AMERICA
B.
ROLL CALL
C.
PUBLIC FORUM
D.
RECOGNITIONS/APPOINTMENTS
1. Oath of Office-New Patrol Officer
a.
Jody M. Brandis
E.
STAFF REPORTS
1. Village Attorney
2. Village Administrator
3. Chief of Police
4. Director of Public Works/PE
5. Village Engineer- Not Attending
6. Community Development Director
7. Building and Zoning Manager
8. Finance Director
9. Assistant Village Administrator/HR
10. Village Clerk
11. Community Relations Manager
12. Economic Development Director
F.
CONSENT AGENDA
1. Minutes – October 7, 2014 Committee of the Whole Meeting
October 7, 2014 Regular Village Board Meeting
Closed Session Minutes October 7, 2014 (Approve, but not Release)
2. Bill List Dated October 21, 2014 in the Amount of $419,613.84.
3. Ordinance Amending Title 6 Chapter 1; Police Department Reorganization (First Read of
Posted:
Date:
Time:
Place:
Initials:
___________
___________
___________
___________
Tina Touchette
Village Clerk
Agenda of a Regular Meeting
Oswego Village President and Board of Trustees
October 21, 2014
Page 2
4.
5.
6.
7.
8.
G.
Ordinance, Consider Waiving Second Read and Approving)
Resolution Adopting a Funding Policy for the Village of Oswego Police Pension Fund.
(Consider for Approval)
Ordinance Granting a Variance for Accessory Structure Separation From Primary Structure
From Ten (10) Feet to Six (6) Feet at 111 Spencer Lane. (First Read of Ordinance, Consider
Waiving Second Read and Approving)
Ordinance Granting a Minor Amendment to the Final Planned Unit Development for 2810
Route 34, Portillo’s Hot Dogs, LLC; Modification to the Drive-Thru Lane Configuration.
(First Read of Ordinance, Consider Waiving Second Read and Approving)
Ordinance Amending Title 3 Chapter 7, Decrease Class “C” Liquor License for Hao Sushi
Inc., 4571 Route 71. (First Read of Ordinance, Consider Waiving Second Read and
Approving)
Resolution Authorizing the Execution of a Release and Hold Harmless Agreement for
Installation of Four (4) Village of Oswego Entryway Signs to be Placed Within Specified
Kendall County Right-of-Ways. (Consider for Approval)
OLD BUSINESS
1. Bonds (ONE OPTION TO BE CHOSEN)
a. A Motion to Approve the Use of Cash Reserve Funds to Pay the Callable Bond
Maturities of the General Obligation Bond Issues, Series 2006A, 2006B, 2007A, &
2007B
Attachment:
Action:
Consider for Approval
OR
b. Ordinance Providing for the Issuance of Not to Exceed $5,100,000 General Obligation
Refunding Bonds, Series 2014, of the Village, for the Purpose of Refunding Certain
Outstanding Bonds of Said Village and Providing for the Levy and Collection of a
Direct Annual Tax Sufficient for the Payment of the Principal of and Interest on Said
Bonds.
Attachment:
Memo and Ordinance
Action:
Second Read of Ordinance
H.
NEW BUSINESS
1. Resolution Amending an Agreement with GovHR for Interim Building & Zoning Manager,
Tom Pahnke. (Consider for Approval)
Attachment:
Memo, Resolution and Agreement
Action:
First Read of Ordinance, Consider Waiving
Second Read and Approving
2.
I.
Ordinance Granting a Minor Amendment to the Final Planned Unit Development for 2840
Route 34, TCBY; Wall Sign on Rear Façade.
Attachment:
Memo and Ordinance
Action:
PRESIDENT’S REPORT
1. Proclamation - Veteran’s Day, November 11, 2014
Agenda of a Regular Meeting
Oswego Village President and Board of Trustees
October 21, 2014
Page 3
J.
CORRESPONDENCE
K.
STANDING COMMITTEE REPORTS
L.
PRESIDENT / TRUSTEE INITIATIVES
M.
CLOSED SESSION
•
•
•
•
N.
POSSIBLE ACTION OF CLOSED SESSION ITEMS INCLUDING:
•
•
•
•
O.
Pending and Probable Litigation [5 ILCS 120/2(c)(11)]
Appointment, Employment, Compensation, Discipline, Performance, or Dismissal of Personnel
[5 ILCS 120/2(c)(1)]
Collective Bargaining/Negotiations, Deliberations Concerning Salary Schedules [5 ILCS 120/2(c)(2)]
Sale, Lease, and/or Acquisition of Property [5 ILCS 120/2(c)(5) & (6)]
Pending and Probable Litigation [5 ILCS 120/2(c)(11)]
Appointment, Employment, Compensation, Discipline, Performance, or Dismissal of Personnel
[5 ILCS 120/2(c)(1)]
Collective Bargaining/Negotiations, Deliberations Concerning Salary Schedules [5 ILCS 120/2(c)(2)]
Sale, Lease, and/or Acquisition of Property [5 ILCS 120/2(c)(5) & (6)]
CALENDAR UPDATE
Brush Pick-up October 20-24 Zone B; October 27-31 Zone C
Location: Oswego Village Hall, 100 Parkers Mill, Oswego, IL
Historic Preservation Commission Meeting
Administrative Adjudication
Special Village Board Meeting
Intergovernmental Meeting
Plan Commission Meeting
ECO Commission Meeting
Cultural Arts Commission Meeting
October 22, 2014
October 23, 2014
November 4, 2014
November 4, 2014
November 6, 2014
November 11, 2014
November 12, 2014
7:00 p.m.
5:00 p.m.
5:30 p.m.
7:00 p.m.
7:00 p.m.
6:30 p.m.
6:00 p.m.
Oswego Public Works Facility, 100 Theodore Drive, Oswego, IL
ECO Electronics Recycling
November 8, 2014
8:00 a.m.
Oswego Law Enforcement Center, 3525 Route 34, Oswego, IL
Police Commission Meeting
November 6, 2014
5:00p.m.
Police Pension Board
October 23, 2014
3:15 p.m.
P.
ADJOURNMENT
MINUTES OF A COMMITTEE OF THE WHOLE MEETING
OSWEGO VILLAGE HALL
100 PARKERS MILL, OSWEGO, ILLINOIS
October 7, 2014
CALL TO ORDER
President LeClercq called the meeting to order at 6:02 p.m.
ROLL CALL
Physically Present: President LeClercq; Trustees: Tony Giles, Gail Johnson, Terry Michels, Pam Parr,
Judy Sollinger and Scott Volpe.
Staff Present: Steve Jones, Village Administrator; Christina Burns, Assistant Village
Administrator/HR Director; Tina Touchette, Village Clerk; Michele Brown, Community Relations
Manager; Jennifer Hughes, PE/Public Works Director; Rod Zenner, Community Development
Director; Mark Horton, Finance Director; Jeff Burgner, Police Captain; Karl Ottosen, Village
Attorney, and Bill Thomas, Village Attorney.
PUBLIC FORUM
Public Forum was opened at 6:02 p.m.
Diane Selmer, Oswego resident, addressed the Board concerning the proposed east side Park-N-Ride
location at Farmington Lakes Drive. She is concerned about the services effect on traffic. She
requested a traffic study be completed. Additionally inquired whether citizens will be contacted; how
tax payers money is being utilized; how this service will affect the tax bills, and requested a survey be
sent to the subdivisions.
There was no one else who requested to speak; the Public Forum was closed at 6:04 p.m.
FY14 ANNUAL AUDIT REPORT AND PRESENTATION
Director Horton presented the audit report to the Board. Director Horton noted there are three pages
of totals columns incorrect. Staff will replace and provide the corrected pages to the Board. Carrie
Dittman, representative for Sikich LLP, provided a summary of details relating to fiscal year ending
April 30, 2014. Sikich prepared a management letter as part of the audit. For FY2014, the auditors did
not discover any material weaknesses. They found one deficiency in water pumped to billed amount.
Auditor recommended the Village investigate the reason for the decrease. The Governmental
Accounting Standards Board(GASB) has issued a number of pronouncements impacting the Village
in the future. Specifically to Statement No. 67, 68, 69, 70 and 71. Future reports will reflect the
changes. All FY2013 comments are in the process of implementation.
The Village of Oswego received a Certificate of Achievement for Excellence in Financial Reporting
for Fiscal Year Ended April 30, 2013 Comprehensive Annual Financial Report. This is the 11th
consecutive year the Village has received this award. This is a voluntary program with 307
municipalities out of 7,000 receiving this award annually.
The Board was provided a copy of the “Auditor’s Communication to the Board of Trustees”, in
addition to a copy of the “Comprehensive Annual Financial Report (CAFR). Carrie Dittman briefly
spoke about the Independent Auditor’s Report, the Management’s Discussion and Analysis, various
financial statements and the IMRF and Police Pension funds.
Board, staff and Auditor’s discussion focused on funds in reserves; Board can spend all reserves; a
different method of presentation going forward; how the Board can be confident in the report with the
incorrect schedules attached; how the incorrect schedules were omitted; schedules are not audited or
reviewed by Sikich; errors were a result of complicated bond refinancing; what mechanisms in place
to not have the error occur again; auditing firm conducts three phases: meet staff, initial risk
assessment, 2-3 weeks of testing which includes checking of bank balances, invoicing and receipts;
bank provides balances to the auditors; confirmation letters sent directly to outside agencies.
There was no further discussion.
CRITERIA FOR DETERMINING PUBLIC VERSUS PRIVATE STREETS
Director Zenner addressed the Board regarding private streets currently in the Village. The Village
has reviewed two requests to accept private streets in residential subdivisions as publicly maintained
and owned streets. Staff identified eight residential subdivisions: Ogden Falls, Pine Ridge Club,
Seasons at Southbury, Fairway Homes at Windcrest, Winding Water at Mill Race Creek, Kingsbrook
Crossing, Oswego Village Square and Farmington Lakes Apartments. There are no private streets in
commercial developments.
Private streets are proposed by developers in three situations:
• Gated communities often contain private streets to prevent the general public from utilizing
the streets
• Streets having specific or unique design aspects such as brick or cobble stone surfaces;
unique architectural elements such as wooden bridges
• Provide a reduced right-of-way, narrower road or reduced setbacks; typically found in multifamily residential projects where residents maintain through their monthly assessment
Policy Criteria
There should be specific criteria as to which private roads would be eligible for dedication and which
roads should remain private. Criteria could include the following:
• Residential Ownership
 Single-family and low density townhome developments
 Staff recommends private roads currently serving apartment/condos should remain
private; future roads serving apartment/condos should be considered private unless
all requirements of the Subdivision Development and Control Regulations are met
• Curb and Gutter
 Some private roads do not have a standard curb and gutter
 Staff recommends private roads without curbs should remain private unless curbs are
added
• Ownership/Management
 Farmington Lakes Apartments- roads and all units currently owned and operated by a
commercial developer
 Staff recommends private roads owned and operated by a commercial developer
should remain private. Roads owned and operated by a Homeowners Association
should be eligible to become publicly owned unless located within a gated
community
• Usage of the Road
 If the road is intended to be used by the public to get from point “A” to “B”
 Road used as a public access point to a property versus a road/drive/alley intended
for individual homeowner to access their property
 Staff recommends private roads providing access to through traffic beyond the
subdivision should be eligible to become publicly owned
Staff provided a chart to show how each street would be classified. Staff recommended establishing
criteria to determine if a private road is eligible to become a private road. Also recommends criteria
be utilized to determine if roads in new subdivisions should be public or private streets. Some private
streets contain dedicated parking spaces. These spaces should remain private. The annual
maintenance costs to maintain the eligible private roads would be $28,281 annually. The costs to
replace the potential public roads is estimated to be $1,486,065. It is assumed no eligible roads
identified will require replacement. If a subdivision wishes to convert an eligible private street to a
publically maintained road, the Homeowners Association will need to formally submit a request to
the Village Board. The Association will need to process the legal documentation and plats to the
Village to review and process prior to dedicating the roads.
Board and staff discussion focused on Tuscany Station apartments could be considered private; curbs
would need to be put in before Village would take over the roads; giving developer opportunity to
revise if subdivision is not built-out; using criteria for new developments going forward; taking
harder line on future developments; be more clear on what the Board wants; Village is often asked for
private streets; having developers address the Board before developing; adding language to the
Subdivision and Regulation guidelines; Ogden Falls Courts and whether they remain private; courts
do not fit the criteria as they are adjacent to commercial property; whether HOA or homeowners
would pay for private courts; how the roads will be plowed since most are smaller roads; better
definition of alleys; staff recommended courts remain private; whether an SSA can be placed on a
handful of properties.
PARK-N-RIDE SURVEY RESULTS AND PROPOSAL TO DIVIDE EXISTING SERVICE
INTO EAST SIDE AND WEST SIDE ROUTES
Administrator Jones addressed the Board regarding the consideration to divide Kendall Area Transit
(KAT) services between east and west-side service locations. The service shuttles commuters from
Oswego to the Aurora Transportation Center. The current KAT agreement expires in June 2015. The
ridership has had significant fluctuations. The Village may have reached the maximum market for
ridership under the current system. To foster sustainability of the service, staff began considering new
options to increase ridership and identifying a new market. The last plate survey indicated 35% of
users were from Oswego. Staff sought resident input as to whether they would utilize a park & ride
program in the eastern portion of Oswego near Route 30 and Douglas. The current results of the
survey show approximately 188 individuals (24/route) are likely to utilize the east side bus route.
Survey results are due by October 15th.
Based on KAT analysis, two routes (one bus) from the west side could be removed and create three
routes on the east side resulting in three routes from each location. The removal of routes from the
east side would have potential to reduce ridership at the location if riders determine they cannot adjust
their trip times. Further research resulted in potential new location at Farmington Lakes Drive. The
location offers the potential for on-street parking and a bus staging area. The new location would have
minimal neighborhood impacts. KAT evaluated the location and indicated it would work. Minor
signage and striping would be necessary to begin service from this location. The existing KAT
contract would accommodate the change without additional funding requirements. Additional revenue
would result from ridership increases above the current level reducing operational subsidy of the
service.
Board and staff discussion focused on whether the Board’s philosophy has changed; the need to
discuss as part of the budget process; service will always be a subsidy; will never be a breakeven; not
a revenue generator; survey showed location on Route 30 as not ideal; run risk of losing ridership on
west side; allowing residents time to respond; parking situation better at the Aurora station; needing
to see significant increase to extend service; 180 days needed to cancel service agreement; busses are
not used for anything other than park & ride; need to define the need for; would like to see parking lot
for the east side location; referring to staff’s judgment; trying the service until June; performing a
traffic study and patterns in the Farmington Lakes area. Staff directed to move forward with east side
location.
SUPERVISION AND REPORTING OF VILLAGE CLERK AND EXECUTIVE ASSISTANT
Agenda item was deferred to the October 21, 2014 Committee of the Whole meeting.
ELECTRONICS WASTE RECYCLING SERVICES RENEWAL AGREEMENT
Agenda item was deferred to the October 7, 2014 Regular Village Board meeting.
POLICE PENSION FUND ACTUARIAL VALUATION REPORT
POLICE PENSION FUNDING POLICY
CLOSED SESSION
There was no Closed Session held.
ADJOURNMENT
The Committee of the Whole meeting ended at 6:59 p.m.
Tina Touchette
Village Clerk
MINUTES OF A REGULAR MEETING OF THE
OSWEGO VILLAGE HALL
100 PARKERS MILL, OSWEGO, ILLINOIS
October 7, 2014
CALL TO ORDER AND PLEDGE OF ALLEGIANCE
President LeClercq called the meeting to order at 7:04 p.m. and led the Pledge of Allegiance to the
Flag of the United States of America.
ROLL CALL
Physically Present: President LeClercq; Trustees: Tony Giles, Gail Johnson, Terry Michels and Pam
Parr, Judy Sollinger and Scott Volpe
Staff Present: Steve Jones, Village Administrator; Christina Burns, Asst. Village Administrator/HR
Director; Tina Touchette, Village Clerk; Jennifer Hughes, PE/Public Works Director; Michele
Brown, Community Relations Manager; Rod Zenner, Community Development Director; Mark
Horton, Finance Director; Jeff Burgner, Police Captain; Karl Ottosen, Village Attorney; and Bill
Thomas, Village Attorney.
PUBLIC FORUM
Public Forum was opened at 7:05 p.m.
There was no one who requested to speak; the Public Forum was closed at 7:05 p.m.
RECOGNITIONS / APPOINTMENTS
1. Employee Service Awards
a. Erin Schiber- 10 Years of Service
President LeClercq recognized Erin Schiber for her 10 years of service.
STAFF REPORTS
Village Attorney
No Report
Village Administrator
Hobby Lobby grand opening was on Monday, October 6th.
Economic Director Vijay Gadde is currently at the ICSC Conference hoping to fill the empty space in
various locations in the Village.
Chief of Police
No Report
Public Works
See Click Fix App- now available on the Village’s website and as an app on Android and IPhone.
App is for the reporting of issues in the community. Issues such as snow/ice control, leaf pick-up,
street light repair, etc. can be selected. Work orders are sent to staff. Reporting can be anonymous.
Staff can respond to the resident via email regarding status updates. Residents should still call in the
cases of emergencies. Civic points are built into the system, but not currently being utilized. Reports
are generated to show average number of requests per week, average time to close, and list of work
orders. Staff is hoping the app will assist Public Works in becoming more efficient.
Village Engineer
No Report
Community Development
Public Open House- concepts on the Comprehensive Plan will be presented on October 15th in the
lobby of Village Hall. Information will be available on the Village’s website.
Building and Zoning Manager
No Report
Finance
No Report
Assistant Village Administrator/HR
Electronics Waste Recycling- the market no longer allows no-cost services for electronic waste due to
the cost of recycling CRT televisions. The Village issued a joint RFP with Yorkville and
Montgomery for electronics recycling. New Life Electronics Recycling, Inc. was both the lowest
bidder and local vendor. The proposed pricing is $80 per ton of CRT televisions. Newer flat screen
televisions and other recyclable material would not be subject to this fee. Yorkville is pursuing a
separate contract and Montgomery opted to not award a contract from the RFP. The anticipated cost
to the Village would be approximately $10,000 annually. The Village may want to consider
additional restrictions to television recycling such as proof of residency or limit of three televisions
per drop-off to reduce the cost. Board and staff discussion focused on why Montgomery is not
participating; against state regulations in accepting money for recycling; whether the regulations preempts home rule; whether Best Buy offers a television return program; staff expecting recycling of
televisions to spike.
Village Clerk
No Report
Community Relations
No Report
Economic Development Director
No Report
CONSENT AGENDA
1. Minutes – September 16, 2014 Committee of the Whole Meeting
September 16, 2014 Regular Village Board Meeting
2. Bill List Dated October 7, 2014 in the Amount of $1,442,955.75.
3. IDOT Resolution Approving the Temporary Closing of Route 31 for the Gobbler Hobbler 10K
Run. (Consider for Approval) Resolution No. 14-R-49
4. Approve Replacement of Electrical Wiring for Outlets on Downtown Street Lights Bid Award to
Frost Electric in the Amount of $19,100. (Consider for Approval)
5. IDOT Resolution Approving the Temporary Closing of Route 34 for the Christmas Walk Parade.
(Consider for Approval)Resolution No. 14-R-50
6. Resolution Approving Execution of a Professional Engineering Services Agreement with HR
Green in an Amount Not to Exceed $19,995 for Construction Observation Services for the
Waubonsee Creek Path Repair. (Consider for Approval) Resolution No. 14-R-51
7. Ordinance Authorizing the Disposal of Surplus Property- Public Works Vehicles. (First Read of
Ordinance, Consider Waiving Second Read and Approving) Sale will be negotiated through the
current company the Village utilizes. Ordinance No. 14-81
8. Ordinance Granting a Minor Amendment to Final Planned Unit Development for Panera Bread,
1450 Douglas Rd.; Monument Sign (First Read of Ordinance, Consider Waiving Second Read
and Approving) Ordinance No. 14-82
9. Resolution Approving the Proposal from GRAEF-USA, Inc. in an Amount Not to Exceed
$24,000For Professional Services Associated with the Route 34 Water Main Relocation. (Consider
for Approval) Resolution No. 14-R-52
10. Motion to Approve Pay Estimate No. 2 (Final Payment) to Geneva Construction Company in the
Amount of $280,937.20 for the 2014 MFT Street Resurface Project. (Consider for Approval)
11. Approve the Lining of 3,200 Feet of 8” Sanitary Line in Kendall Point Utilizing Visu-Sewer in
the Amount of $105,000. (Consider for Approval)
12. Approve Payment of Invoice no. 107237 To Illinois Department of Transportation in the Amount
of $93,696.15 for the Improvement on US Route 30 from Briarcliff to US Route 34. (Consider
for Approval)
13. Resolution Approving Execution of a Professional Engineering Services Agreement with HR
Green in an Amount Not to Exceed $12,955 for Design Engineering for the Repair of Culverts
Carrying Bartlett Creek Under Main Street and Tyler Street. (Consider for Approval)
Resolution No. 14-R-53
A motion was made by Trustee Sollinger and seconded by Trustee Parr to approve the Consent
Agenda; Approving the Minutes from September 16, 2014; the Bill List Dated October 7, 2014 in
the Amount of $1,442,955.75; Awarding Replacement of Electrical Wiring for Outlets on Downtown
Street Lights Bid Award to Frost Electric in the Amount of $19,100; Approving Pay Estimate No. 2
(Final Payment) to Geneva Construction Company in the Amount of $280,937.20 for the 2014 MFT
Street Resurface Project; Approving the Lining of 3,200 Feet of 8” Sanitary Line in Kendall Point
Utilizing Visu-Sewer in the Amount of $105,000; Approving Payment of Invoice No. 107237 to
Illinois Department of Transportation in the Amount of $93,696.15 for the Improvement on US Route
30 from Briarcliff to US Route 34; and waiving second read of ordinance and approving
the following ordinances:
Ordinance No. 14-81- Ordinance Authorizing the Disposal of Surplus Property- Public Works
Vehicles.
Ordinance No. 14-82- Ordinance Granting a Minor Amendment to Final Planned Unit Development
for Panera Bread, 1450 Douglas Rd.; Monument Sign
and approving the following resolutions:
Resolution No. 14-R-49- IDOT Resolution Approving the Temporary Closing of Route 31 for the
Gobbler Hobbler 10K Run.
Resolution No. 14-R-50- IDOT Resolution Approving the Temporary Closing of Route 34 for the
Christmas Walk Parade.
Resolution No. 14-R-51- Resolution Approving Execution of a Professional Engineering Services
Agreement with HR Green in an Amount Not to Exceed $19,995 for Construction Observation
Services for the Waubonsee Creek Path Repair.
Resolution No. 14-R-52- Resolution Approving the Proposal from GRAEF-USA, Inc. in an Amount
Not to Exceed $24,000For Professional Services Associated with the Route 34 Water Main
Relocation.
Resolution No. 14-R-53- Resolution Approving Execution of a Professional Engineering Services
Agreement with HR Green in an Amount Not to Exceed $12,955 for Design Engineering for the
Repair of Culverts Carrying Bartlett Creek Under Main Street and Tyler Street.
Aye: Gail Johnson
Tony Giles
Pam Parr
Terry Michels
Judy Sollinger
Scott Volpe
Nay: None
The motion was declared carried by omnibus vote with six (6) aye votes and zero (0) nay votes.
OLD BUSINESS
1. Ordinance Approving a Final Planned Unit Development and Subdivision Plat for Ashcroft Place
Unit 3- Woolley Road. Ordinance No. 14-83
Attachment:
Memo and Ordinance
Action:
Second Read of Ordinance, Consider Waiving
Third Read and Approving
A motion was made by Trustee Sollinger and seconded by Trustee Parr to Approving a Final Planned
Unit Development and Subdivision Plat for Ashcroft Place Unit 3- Woolley Road.
Aye: Gail Johnson
Tony Giles
Pam Parr
Terry Michels
Judy Sollinger
Scott Volpe
Nay:
None
2. Ordinance Granting a 10-Year Extension of the Franchise Agreement with Comcast.
Ordinance No. 14-84
Attachment:
Action:
Memo, Ordinance and Agreement
Second Read of Ordinance, Consider Waiving
Third Read and Approving.
A motion was made by Trustee Michels and seconded by Trustee Sollinger Granting a 10-Year
Extension of the Franchise Agreement with Comcast.
Aye: Gail Johnson
Tony Giles
Pam Parr
Terry Michels
Judy Sollinger
Scott Volpe
Nay:
None
NEW BUSINESS
1.
Ordinance Providing for the Issuance of Not to Exceed $5,100,000 General Obligation
Refunding Bonds, Series 2014, of the Village, for the Purpose of Refunding Certain
Outstanding Bonds of Said Village and Providing for the Levy and Collection of a Direct
Annual Tax Sufficient for the Payment of the Principal of and Interest on Said Bonds.
Attachment:
Memo and Ordinance
Action:
Board and staff discussion focused on moving the item to second read; looking at an alternative
solution; whether the bonds can be paid off; putting the money towards roads; interest is 2-3%;
whether paying off will free up money; some bonds are for water; cannot pay off early; will not save
money; need further discussion at next Committee of the Whole meeting; affect it will have if paid
off; staff to publish official statement.
No motion was made.
2.
Ordinance Granting a Final Planned Unit Development for Speedway Gas Station, 1830
Route 30. Ordinance No. 14-86
Attachment:
Memo and Ordinance
Action:
A motion was made by Trustee Sollinger and seconded by Trustee Volpe Granting a Final Planned
Unit Development for Speedway Gas Station, 1830 Route 30.
Aye: Gail Johnson
Tony Giles
Pam Parr
Terry Michels
Judy Sollinger
Scott Volpe
Nay:
None
PRESIDENT’S REPORT
There was no President’s Report.
CORRESPONDENCE
There was no correspondence presented.
STANDING COMMITTEE REPORT
Community Development; Building and Zoning
No Report
Finance
No Report.
Legislation, Policy, and Human Resources
No Report.
Public Safety
No Report.
Public Works
No Report.
Technology
No Report.
PRESIDENT / TRUSTEE INITIATIVE
Trustee Volpe asked what can be done with the timing of the lights on Route 34. Re-timing can cost
$200,000. Public Works Director Hughes to look into.
CLOSED SESSION
A motion was made by Trustee Volpe and seconded by Trustee Johnson to enter into Closed Session
for the purpose of discussing the following:
• Pending and Probable Litigation [5 ILCS 120/2(c)(11)]
• Collective Bargaining/Negotiations, Deliberations Concerning Salary Schedules [5 ILCS
120/2(c)(2)]
• Sale, Lease, and/or Acquisition of Property [5 ILCS 120/2(c)(5) & (6)]
Aye: Gail Johnson
Tony Giles
Pam Parr
Terry Michels
Judy Sollinger
Scott Volpe
Nay: None
The motion was declared carried with six (6) aye votes; zero (0) nay votes.
The Board entered into Closed Session at 7:40 p.m.
The Board returned to open session at 8:09 p.m. All members still present.
ADJOURNMENT
A motion was made by Trustee Parr and seconded by Trustee Sollinger to adjourn the meeting; upon
a voice vote with all remaining members present voting aye, the meeting was adjourned at 8:11 p.m.
Tina Touchette
Village Clerk
Village of Oswego
Bill List
October 21, 2014
Fund/Department:
General Fund:
Corporate:
Vendor Name:
Description:
ACHIEVEMENT ASSOCIATES
AFLAC
CALL ONE
CALL ONE
CALL ONE
CALL ONE
CAPTUS PRESS, INC.
CPAT
CRESCENT ELECTRIC SUPPLY CO
HILTON CHICAGO
I.U.O.E. LOCAL 150
I.U.O.E. LOCAL 150
I.U.O.E. LOCAL 150
I.U.O.E. LOCAL 150
I.U.O.E. PAC
I.U.O.E. PAC
ILLINOIS MUNICIPAL LEAGUE
ILLINOIS MUNICIPAL LEAGUE
ILLINOIS PUBLIC RISK FUND
ILLINOIS STATE POLICE
INTERACT
INTERACT
INTERACT
INTERACT
INTERACT
INTERACT
KENDALL COUNTY RECORD, INC
METRA
METROPOLITAN INDUSTRIES, INC
NAPERVILLE PARKING
OFFICE OF IL ATTORNEY GENERAL
ORKIN PEST CONTROL
OSWEGO CHAMBER OF COMMERCE
PETTY CASH-CORPORATE
RODRIGUEZ, DEVIN
SAKAMOTO JAPANESE GRILL
TREASURE OF STATE OF ILLINOIS
TRUSTMARK VOLUNTARY BENEFIT
VC SIGNS & LIGHTING
VERIZON WIRELESS
VISION SERVICE PLAN
VISION SERVICE PLAN
VISION SERVICE PLAN
WAREHOUSE DIRECT
WAREHOUSE DIRECT
WAREHOUSE DIRECT
WAREHOUSE DIRECT
YMCA
ACHIEVER TEST: REPORTS
AFLAC INSURANCE
PHONE SERVICE
PHONE SERVICE
PHONE SERVICE
PHONE SERVICE
REGISTRATION:ON-LINE TRAINING
REIMBURSE:CPAT GRANT
FLUORESCENT LAMPS
HOTEL-IML CONFERENCE
UNION DUES-9/26/14
UNION DUES-10/10/14
UNION DUES-9/26/14
UNION DUES-10/10/14
UNION DUES-9/26/14
UNION DUES-10/10/14
IML ANNUAL CONFERENCE
IML CONFERENCE REGISTRATION
WORKERS COMP INSURANCE
SEX OFFENDER REGISTRATION
COPIES
COPIES
COPIES
COPIES
COPIES
COPIES
BIDS: VILLAGE ENTRY SIGNS
BIDS: VILLAGE ENTRY SIGNS
ELECTION FILING
FARE: CMAP STUDY INTERVIEWS
REMOVED/REPLACED PUMP:FOUNTAIN
TRAIN STATION PARKING
SEX OFFENDER AWARENESS
PEST CONTROL
ANNUAL LEGISLATIVE LUNCHEON
NOTARY FEE: DERDZINSKI
REIMBURSE: LUNCHEON
METRA FARE
CHIPS FOR LUNCHEON
OVERPYMT: CAPERS TICKET
EMPLOYEE SPOTLIGHT:HUGHES
SEX OFFENDER MANAGMENT BOARD
TOWNSHIP INSURANCE
ACCIDENT INSURANCE
LIFE INSURANCE
REFUND SIGN PERMIT
PHONE BILL
VISION INSURANCE
VISION INSURANCE
VISION INSURANCE
HAND TOWELS, WINDOW CLEANER
GARBAGE BAGS
DIVIDERS
COPY PAPER
COMMUNITY BREAKFAST
Amount: Department Totals:
1,300.00
5,216.01
100.15
189.21
100.96
196.95
211.89
6,265.00
64.44
853.38
599.69
599.69
188.32
188.32
48.00
48.00
160.00
160.00
852.20
150.00
36.66
13.02
11.81
38.23
23.04
13.64
30.80
30.80
10.80
6.25
6,381.00
2.05
150.00
338.80
25.00
10.00
20.00
9.25
10.00
20.00
25.00
25.00
99.42
700.78
1,296.60
128.80
175.28
200.93
12.21
1,446.18
118.60
90.46
4.77
18.37
160.00
Corporate Total:
Building & Zoning:
CALL ONE
CALL ONE
CALL ONE
CALL ONE
GOVTEMPSUSA LLC
GOVTEMPSUSA LLC
PHONE SERVICE
PHONE SERVICE
PHONE SERVICE
PHONE SERVICE
BZ MANAGER TEMP:PAHNKE
BZ MANAGER TEMP:PAHNKE
29.05
217.59
28.95
226.50
1,960.00
1,960.00
29,175.76
Village of Oswego
Bill List
October 21, 2014
Fund/Department:
Vendor Name:
INTERACT
INTERACT
JACOBSEN LAWN SERVICES, INC.
MORPHEY, RICK
PAHNKE, THOMAS
SL INDUSTRIES LLC
SOUTH SUBURBAN BUILDING
VERIZON WIRELESS
VISION SERVICE PLAN
WAREHOUSE DIRECT
WAREHOUSE DIRECT
WAREHOUSE DIRECT
WAREHOUSE DIRECT
WAREHOUSE DIRECT
Community Development:
AT&T MOBILITY
CALL ONE
CALL ONE
CALL ONE
CALL ONE
HR GREEN, INC.
HR GREEN, INC.
INTERACT
INTERACT
VERIZON WIRELESS
WALGREEN'S
WAREHOUSE DIRECT
Community Relations:
AREN SANITATION SOLUTIONS INC.
BERGERON, MICHELE
CALL ONE
CALL ONE
CBS RADIO
FACEBOOK
FACEBOOK
INTERACT
INTERACT
MUTUAL GROUND
VERIZON WIRELESS
WAL-MART
WAREHOUSE DIRECT
Economic Development:
CALL ONE
CALL ONE
INTERACT
INTERACT
INTERNATIONAL COUNCIL
VERIZON WIRELESS
WAREHOUSE DIRECT
WAREHOUSE DIRECT
Description:
COPIES
COPIES
MOWING/TRIMMING: PROPERTY
REIMBURSE:MILEAGE/CONF FEE
MIILEAGE/CONF REIMBURSE
CABLES
ICC SEMINAR
PHONE BILL
REFUND: VISION INSURANCE
RUBBER BANDS
COPY PAPER
FOLDERS, DESK MAT
LEGAL COLORED PAPER
RETURNED: DESK MAT
GPS FOR GIS UNIT
PHONE SERVICE
PHONE SERVICE
PHONE SERVICE
PHONE SERVICE
PRG:HUDSON POINTE
2014 GENERAL CONSULTATION
COPIES
COPIES
VARIANCE: RED DOT STORAGE
NOTARY FEE: KULAWIAK
PHONE BILL
PHOTOS:PROPERTY OF THE SEASON
COPY PAPER
PORT A POTTY: FALL FEST
MILEAGE REIMBURSEMENT
PHONE SERVICE
PHONE SERVICE
ADVERTISING: CBS RADIO
FACEBOOK BOASTED POSTS
FACEBOOK BOASTED POSTS
COPIES
COPIES
FALL FOX FEST
SHARERPOWER LUNCHEON
INSPIRING WOMEN EVENING EVENT
PHONE BILL
TABLES FOR EVENTS
COPY PAPER
PHONE SERVICE
PHONE SERVICE
COPIES
COPIES
ICSC MARKETING EVENT
PHONE BILL
MISC OFFICE SUPPLIES
COPY PAPER
917.76
34.65
37.07
600.00
53.08
51.84
21.37
120.00
48.73
(35.42)
13.68
21.12
112.06
34.45
(31.64)
Building & Zoning Total:
6,420.84
61.30
29.01
122.99
29.10
128.02
97.50
702.00
655.54
63.45
52.71
21.20
10.00
140.45
10.73
11.94
Community Development
2,135.94
85.00
80.85
66.22
68.93
2,191.33
25.08
50.13
262.22
42.29
23.17
145.60
51.75
25.00
44.85
572.28
6.43
Community Relations Total:
3,741.13
113.53
118.17
131.11
7.73
5.08
295.00
40.44
113.11
2.75
Economic Development:
826.92
Road and Bridge:
ABLERT F MALL JR.
ALARM DETECTION SYSTEMS INC
TRIMMED TREE
INSTALL PANIC BUTTON:PW
750.00
416.33
Village of Oswego
Bill List
October 21, 2014
Fund/Department:
Vendor Name:
ALEXANDER EQUIPMENT COMPANY
AMERICAN SOCIETY OF CIVIL
BOUGHTON TRUCKING & MATERIAL
CALL ONE
CALL ONE
CERTIFIED LABORATORIES
CITIBANK N.A.
CITIBANK N.A.
CITIBANK N.A.
CLARKE MOSQUITO CONTROL
COMMONWEALTH EDISON CO
CONCEPT TO PROJECT MANAGEMENT
FIRST PLACE RENTAL
FOX RIDGE STONE
FOX RIDGE STONE
FROST ELECTRIC COMPANY, INC.
GRAINCO FS, INC.
GRAINCO FS, INC.
HR GREEN, INC.
HR GREEN, INC.
IL POWER MARKETING
IL POWER MARKETING
INTERACT
INTERACT
JOHN DEERE FINANCIAL
JOHN DEERE FINANCIAL
KENDALL COUNTY CONCRETE, INC.
KIMBALL-MIDWEST
MEADE ELECTRIC COMPANY, INC
MES
NATIONAL SEED
NATIONAL SEED
PATSON, INC.
PATSON, INC.
PATSON, INC.
PAUL DAEMICHE
PAUL DAEMICHE
QUANTZ SMALL ENGINE REPAIR
QUANTZ SMALL ENGINE REPAIR
ROSS MECHANICAL GROUP, INC.
TIGERDIRECT
VERIZON WIRELESS
VILLAGE GRIND
WAREHOUSE DIRECT
WAREHOUSE DIRECT
WAREHOUSE DIRECT
Description:
LUFKIN DIAMETER TAPE
MEMBERSHIP RENEWAL
ROCK: STOCK PILE
PHONE SERVICE
PHONE SERVICE
YEARLY SUPPLY OF GREASE
GARDEN HOSES
RETURNED GARDEN HOSES
GARDEN HOSES
ULV APPLICATION W/ANVIL
MASTER ACCT:TRAFFIC SIGNALS
MOBILIZATION:WINTER LIQUID
LAMPS
PHOTO CONTROLLERS
BAR & CHAIN OIL
16 LOADS OF SPOILS
1 LOAD OF CONCRETE SPOILS
REMOVE SOLAR/WIND CONTROLLER
LIGHTING MAINT.
CHECK POWER: CHAROLOTTE
SPECIALTY PHOTO EYES
DIESEL GOLD FUEL
GASOLINE
692 CANTON CT: STREETLIGHTS
692 CANTON CT: STREETLIGHTS
COPIES
COPIES
BLADES
TURN SIGNAL CONTROLLER
CEMENT: CURB REPAIR
BIDS:WIRING STREETLIGHTS
BIDS:WIRING STREETLIGHTS
DRILL BIT, CENTER PULL PUNCH
TRAFFIC SIGNAL FLASHING RED
TRAFFIC SIGNAL LOCATE
TRAFFIC SIGNAL OUTAGE
BREATHING APPARATUS
TRIPLET WEED CONTROL
RESEEDER GRASS SEED
ANNUAL LEGISLATIVE LUNCHEON
SENSOR
ENGINE COOLANT SENSOR
RETURNED: SENSOR
SPARK PLUG HOLDER
COOLING SYSTEM PRESSURE TESTER
OVERNIGHT SHIPPING
PART FOR PUMP
TRIMMER LINE
WATER LINE AT PW
TONER
PHONE BILL
TACO BAR LUNCHEON:MEETING
CALENDAR, BUS. CARD HOLDER
BLACK INK
RTN:BUS CARD HOLDER/CALENDAR
ALPHA BUILDING MAINTENANCE
JANITORIAL SERVICES
95.95
127.50
276.25
37.84
39.39
228.75
32.76
(32.76)
30.40
8,421.00
308.01
18,624.82
319.68
190.08
25.98
720.00
45.00
110.00
435.00
220.00
210.00
587.26
1,021.64
345.60
1,113.75
5,993.94
6,995.23
806.31
32.90
25.92
90.38
60.70
221.00
34.00
34.00
232.93
266.88
125.21
250.42
125.21
125.21
125.21
62.61
9,998.00
140.00
215.00
25.00
34.12
112.25
(34.12)
15.86
60.59
16.95
21.70
56.02
7,187.00
98.23
228.52
83.40
29.21
33.31
(7.64)
Road and Bridge Total:
68,621.69
Finance:
702.00
Village of Oswego
Bill List
October 21, 2014
Fund/Department:
Vendor Name:
BLAIR, DARCY
CALL ONE
CALL ONE
COMCAST CORPORATION
FEDEX
HOME DEPOT
IGFOA
ILGISA
INTERACT
INTERACT
NPC MERCHANT STATEMENT
PAYLOCITY PAYROLL
PAYLOCITY PAYROLL
SAFEGUARD BUSINESS SYSTEMS
SHARPE, TIMOTHY
SHARPE, TIMOTHY
SIKICH LLP
WAREHOUSE DIRECT
WAREHOUSE DIRECT
Description:
MILEAGE/TOLL REIMBURSEMENT
PHONE SERVICE
PHONE SERVICE
INTERNET/CONNECTION FEE
DELIVERY:BANK OF NEW YORK
NETWORK TOOL KIT & JACK
IGFOA WEBINAR
IL GIS ASSOCATION CONFERENCE
COPIES
COPIES
PROCESSING: OPERATING
PAYLOCITY INVOICE
PAYLOCITY INVOICE
AP CHECKS
HEALTHCARE ACTUARIAL VALUATION
POLICE PENSION ACTUARIAL
AUDIT FEE FY 2014
COPY PAPER
FILE POCKETS, CASH REGISTER
ACH N LOUS PIZZA PUB
ALPHA BUILDING MAINTENANCE
APPRIVER
AREN SANITATION SOLUTIONS INC.
BEST BUY
BLACK DOG SMOKE & ALE HOUSE
BP AMOCO CREDIT CARD CENTER
BRADFORD SYSTEMS CORPORATION
CALL ONE
CALL ONE
CAPERS LLC.
CHILI'S
CHIPOTLE
COMMISSION ON ACCREDITATION
CUMMINS NPOWER LLC
DIETZ, RONALD
DIETZ, RONALD
DISCOUNT TIRE
DISCOUNT TIRE
GRAVER, JUSTIN
HAMPTON INN
HARDEES
HOME DEPOT
HOME DEPOT
HOOTERS
ILLINOIS FIRE & POLICE
ILLINOIS FIRE & SAFETY COMPANY
ILLINOIS SECRETARY OF STATE
ILLINOIS SECRETARY OF STATE
INFOR PUBLIC SECTOR
INTERACT
INTERACT
JCM UNIFORMS, INC.
JCM UNIFORMS, INC.
KENDALL COUNTY CHIEFS OF
MEIJER
MEIJER
MINER ELECTRONICS CORP
MINER ELECTRONICS CORP
MURRAY, TIM
MEAL: TRAINING AT APD
JANITORIAL SERVICES
SUBSCRIPTION:E-MAIL SPAM
PORT-A-POTTY:RANGE DAYS
FLASH DRIVE
MEAL: ACADEMY GRADUATION
GASOLINE
REPLACE LOCKER
PHONE SERVICE
PHONE SERVICE
ADJUDICATION FEE
MEAL:ILEAS CLASS
MEAL:BASIC MEDIA RELATIONS
CALEA CONFERENCE FEE
GENERATOR MAINT/SERVICE
POLICE COMMISSION MEETING-10/2
NEW TIRE
4 TIRES
REIMBURSE: MEALS AT TRAINING
HOTEL: RECRUITMENT FAIR
MEAL:ILEAS CLASS
CAN OF GREAT STUFF
VACUUM FILTER
MEAL: MASTER FIREARMS CLASS
ANNUAL IFPCA MEMBERSHIP
RECHARGE/REPAIR EXTINGUISHER
LICENSE PLATE STICKER
SRV FEE:LICENSE PLATE STICKER
MOBILE CAD LICENSE/MAPPING
COPIES
COPIES
DETECTIVE POLOS
UNIFORM PURCHASES
MEETING FEE: SEPTEMBER
AD:PATROL OFFICER
PUBLIC NOTICE:SERGEANT EXAM
FOOD: DEPT RANGE DAY TRAINING
FOOD: DEPT RANGE DAY TRAINING
NEW IGNITION LINE
RADIOS: NEW SQUAD
27.30
28.38
29.54
3,718.24
32.32
40.90
55.00
87.50
786.65
54.69
4.07
167.89
329.05
1,047.07
354.94
250.00
2,200.00
10,000.00
15.61
76.36
Finance Total:
20,007.51
Police:
20.38
599.00
1,067.52
50.00
14.99
38.00
67.61
305.00
1,852.82
1,802.97
1,050.00
25.06
4.91
895.00
1,642.95
25.00
25.00
524.00
251.00
71.74
92.13
9.09
6.98
16.97
38.66
375.00
31.69
8,259.81
101.00
2.37
949.96
285.58
506.70
60.00
79.95
90.00
465.12
6.80
109.13
119.62
118.75
1,893.00
25.00
Village of Oswego
Bill List
October 21, 2014
Fund/Department:
Vendor Name:
MURRAY, TIM
OSWEGO POSTMASTER
OSWEGO POSTMASTER
OSWEGO POSTMASTER
OSWEGO POSTMASTER
OSWEGO POSTMASTER
OSWEGO POSTMASTER
PETTY CASH-POLICE
PETTY CASH-POLICE
PETTY CASH-POLICE
PETTY CASH-POLICE
PETTY CASH-POLICE
PETTY CASH-POLICE
PITNEY BOWES INC
PORTILLO'S
RESPONSIVE NETWORK SERVICES
RJ KUHN, INC.
SPEEDWAY
SPEEDWAY
STRYPES PLUS MORE INC
SUBWAY
THOMPSON INFORMATION SERVICES
TLO LLC.
VISION SERVICE PLAN
WAREHOUSE DIRECT
WAREHOUSE DIRECT
WAREHOUSE DIRECT
WAREHOUSE DIRECT
WEX BANK
WILSON ESTES POLICE ARCHITECTS
YORKVILLE ACE & RADIO SHACK
Description:
CERTIFIED MAIL
CERTIFIED MAIL
POSTAGE: GRANT APPLICATION
CERTIFIED MAIL
CERTIFIED MAIL
CERTIFIED MAIL
CERTIFIED MAIL: ADMIN TOW
SUBURBAN LEAP MTG
MEAL WHILE AT TRAINING
NEMRT TRAINING
FBINAA TRAINING
SUBPOENA RETURN
POSTAGE METER RENTAL
MEAL: CRAIGLIST INVEST. CLASS
IT SERVICES
IT SERVICES
EJECTOR PIT MAINT
GASOLINE
ICE: RANGE TRAINING
STRIP OLD SQUAD
MEAL: RECRUITMENT FAIR
FAIR LABOR STANDARDS HANDBOOK
ON-LINE INVESTIGATIONS
VISION INSURANCE
CENTER PULL TOWELS
LEGAL PADS
CD/DVD ENVELOPES
CD-R'S & DVD-R'S
GASOLINE
REGISTRATION: POLICE DESIGN
GARBAGE CAN
3 EXTRA KEYS
SHIPPING: RADIO
Water & Sewer Fund:
ALTISOURCE SOLUTIONS
AMERICAN SOCIETY OF CIVIL
BANK OF NEW YORK MELLON
CALL ONE
CALL ONE
CALL ONE
CALL ONE
CALL ONE
CALL ONE
CENTRAL LIMESTONE COMPANY, INC
CERTIFIED LABORATORIES
CITIBANK N.A.
CONSTELLATION NEWENERGY INC
CUNNINGHAM, LINDA
FNBO
FOX RIDGE STONE
FOX RIDGE STONE
GRAINCO FS, INC.
GRAINCO FS, INC.
HR GREEN, INC.
ILLINOIS STATE TREASURER
INTERACT
INTERACT
REFUND OVERPYMT:162 RIVERMIST
MEMBERSHIP RENEWAL
ADMINISTRATION FEE: 2012 BOND
AGENT FEE: 2009 BOND
PHONE SERVICE
PHONE SERVICE
PHONE SERVICE
PHONE SERVICE
PHONE SERVICE
PHONE SERVICE
WASHED ROCK: STOCK PILE
YEARLY SUPPLY OF GREASE
MASONRY BLADES
107A RT 25: PUMP VALVE
3523 RT 34: BOOSTER STATION #1
1 W RAINTREE DR: WELL 9
FLUORESCENT LAMPS
REFUND OVERPYMT:247 WOLVERINE
UB PROCESSING FEES:AUTO CC
4 LOADS OF SPOILS
1 LOAD OF SPOILS
DIESEL GOLD FUEL
GASOLINE
ENGINEER-WATER MODEL UPDATE
UNCLAIMED PROPERTY:UB
COPIES
COPIES
25.00
6.49
6.49
19.99
12.98
6.49
19.47
19.47
10.00
10.09
17.84
25.00
12.65
95.25
11.24
550.00
363.00
360.00
120.91
6.65
165.00
12.89
536.99
39.00
97.10
230.93
18.36
45.59
98.35
7,673.43
390.00
15.99
10.47
11.67
Police Total:
35,021.04
General Fund Total:
165,950.83
42.40
127.50
428.00
1,568.18
379.48
281.92
170.29
379.12
282.63
177.26
342.89
228.76
8.63
33.14
29.56
8,148.49
64.44
52.38
60.56
180.00
45.00
717.77
1,248.68
1,220.00
1,881.40
819.33
23.84
47.90
Village of Oswego
Bill List
October 21, 2014
Fund/Department:
Vendor Name:
JIMS TRUCK INSPECTION LLC.
KENDALL COUNTY CONCRETE, INC.
KIEFT BROTHERS, INC.
MERIT CORP
NATURAL DIRECT, LLC.
PALERMO, MARY KIMBERLY
RODRIGUEZ, GUS & SANCHEZ LUCY
SOVEREIGN BANK NA
SUBURBAN LABORATORIES, INC.
TIGERDIRECT
UNITED STATES POSTAL SERVICE
UNITED STATES POSTAL SERVICE
VANCO SERVICES
VERIZON WIRELESS
WAREHOUSE DIRECT
WAREHOUSE DIRECT
WAREHOUSE DIRECT
WAREHOUSE DIRECT
WAREHOUSE DIRECT
WATER PRODUCTS CO - AURORA
WATER REMEDIATION TECHNOLOGY
WEBSTER, MELISSA
WYATT, GENA
Description:
TRUCK INSPECTION
TRUCK INSPECTION
TRUCK INSPECTION
CONCRETE: B-BOX REPAIR
VALVE VAULT TOP COVER
REFUND OVERPYMT:1016 DOUGLAS
REFUND OVERPYMT:37 D STONEHILL
PROCESSING UTILITY BILLING
PROCESSING UTILITY BILLING
OVERPYMT FINAL: 290 BLUEGRASS
REFUND OVERPYMT:479 GRAPE VINE
REFUND OVERPYMT:185 EISENHOWER
COLIFORM SAMPLES
TONER
POSTAGE:WATER BILLS
POSTAGE:WATER BILLS
UB PROCESSING FEES:E-CHECK
PHONE BILL
MOP HEADS
CALENDAR, BUS. CARD HOLDER
COPY PAPER
HIGHLIGHTERS
RTN:BUS CARD HOLDER/CALENDAR
ADAPTERS & COULINGS
OMEGA COUPLING
VARIOUS PARTS
HYDRANT KIT
VALVE SEAT
CREDIT FOR OVERPYMT
EXCESS GALLON CREDIT
EXCESS GALLON CHARGE
EXCEDSS GALLON CREDIT
BASE TREATMENT CHARGE
EXCESS VOLUME CREDIT
EXCESS VOLUME CHARGE
EXCESS VOLUME CHARGE
REFUND OVERPYMT:239 W WASHINGT
REFUND OVERPYMT:261 S MADISON
CALL ONE
CALL ONE
HR GREEN, INC.
PHONE SERVICE
PHONE SERVICE
ENGINEER-MILL RD
IT: PHONE PROJECT
25.00
26.00
39.00
306.50
341.00
21.63
2.28
48.96
1,226.76
11.59
58.41
10.00
151.00
98.23
3,677.15
481.69
132.50
228.52
117.24
29.21
15.61
8.38
(7.64)
169.50
270.72
1,733.96
2,211.20
344.25
(0.44)
(2,676.72)
1,945.48
(283.98)
(561.49)
613.15
759.31
1,294.81
(3,759.18)
3,451.61
5,680.37
4,418.06
4,418.06
4,418.06
4,418.06
4,418.06
4,418.06
(2,813.74)
786.40
(663.24)
(890.35)
(376.90)
4,597.90
(1,045.65)
(3,578.77)
59.88
57.69
Water & Sewer Fund:
59,872.70
Capital Fund:
808.08
506.06
1,002.46
407.00
Capital Fund:
Garbage Fund:
GROOT INDUSTRIES, INC
GARBAGE-FULL ACCOUNTS
GARBAGE- SENIOR ACCOUNTS
169,488.80
17,734.86
2,723.60
Village of Oswego
Bill List
October 21, 2014
Fund/Department:
Vendor Name:
Description:
GARBAGE-PARTIAL ACCOUNTS
AGENT FEE: 2009 BOND
491.98
Garbage Fund:
187,715.64
Debt Service Fund:
234.32
Debt Service Fund:
234.32
140.40
Agency Fund:
140.40
1,800.00
Public Works Escrow Fund:
1,800.00
1,158.75
17.60
Sub Escrow Fund:
1,176.35
Grand Total:
419,613.84
Agency Fund:
Public Works Escrow Fund:
DANCA, JULIE
LITERARY FESTIVAL
REFUND: SIDEWALK BOND 194 ADAM
Sub Escrow Fund:
HR GREEN, INC.
ENGINEER-TACO BELL
VARIANCE: 111 SPENCER LN
100 Parkers Mill, Oswego, IL 60543 (630) 554-3618 Fax (630) 554-3306
Website: http://www.oswegoil.org
MEMORANDUM
To:
Village President and Board of Trustees
CC:
Village Administrator, Village Attorney and Department Heads
From:
Captain Jeff Burgner
Date:
October 13, 2014
Agenda:
October 21, 2014 Regular Board Meeting
Subject:
Police Department Command Structure Reorganization
Purpose
Provide the Village Board with a draft ordinance for review and approval for the reorganization of the
command structure within the police department.
Background
Board Action Previously Taken:
Date
September 16, 2014
Action
Board was provided a draft ordinance regarding the
creation of the rank of Deputy Chief and Commander
within the police department. This was presented at the
Committee of the Whole meeting on September 16,
2014.
Discussion
The purpose of this memorandum is to seek approval of the proposed draft ordinance regarding the
creation of an appointed Deputy Chief and Commander rank within the Oswego Police Department. The
Village Board was given a presentation on September 16, 2014 regarding the proposed ordinance and
what the police department structure would be if approved. Questions were answered regarding the
proposed ordinance and structure changes. Currently there are no outstanding questions to be answered
regarding the proposal
Recommendation
It is recommended to approve the attached draft ordinance and allow for the organizational change to take
effect after Chief Baird retires on December 7, 2014. It is recommended that Captain Sikora and Captain
Jensen be sworn in as Deputy Chiefs of Police at the December 16, 2014 Village Board meeting. The
Commander appointment will come from the current Sergeant pool. It is recommended that the selected
sergeant be appointed to Commander at the January 6, 2015 Village Board meeting. There should be a
final sergeant promotional eligibility list approved by the Oswego Board of Police Commissioners by
January 6, 2015. It is recommended to promote a Sergeant from that list to fill the vacancy from the
Commander promotion at the Village Board meeting on January 6, 2014. If the list is not finalized by
January 6, 2015 then it would be recommended to promote a Sergeant at the first Village Board meeting
after the eligibility list is posted.
Strategic Planning Objective
1.4.4 - Recognize employee contributions and foster a positive work environment
Task 3 - Communication is a recurring theme in maintaining employee satisfaction: Identify and
establish opportunities for more open communication between department heads and employees.
This proposal will work towards this objective in the Village Strategic plan as we would be addressing a
communication deficiency identified by our night shift staff.
2
VILLAGE OF OSWEGO
KENDALL COUNTY, ILLINOIS
________________________________________________________________
ORDINANCE NO. 14-___
AN ORDINANCE AMENDING TITLE 6 CHAPTER 1 OF THE CODE OF ORDINANCES FOR
THE VILLAGE OF OSWEGO, KENDALL COUNTY, ILLINOIS
POLICE DEPARTMENT
________________________________________________________________
PASSED BY THE VILLAGE BOARD
OF THE VILLAGE OF OSWEGO
This ___ day of __________, 2014
________________________________________________________________
Published in pamphlet from by authority of the President and Board of Trustees
of the Village of Oswego on __________, 2014.
ORDINANCE NO. 14-___
POLICE DEPARTMENT
________________________________________________________________
WHEREAS, the Village of Oswego (“Village”) has a population of more than 25,000 and is
therefore a “Home Rule Unit” under the 1970 Illinois Constitution; and
WHEREAS, the Illinois Constitution of 1970 provides that a Home Rule Unit may exercise any
power and perform any function pertaining to its government and affairs, including but not limited to the
power to regulate for the protection of the public health, safety, morals and welfare; to license, to tax; and
to incur debt; and
WHEREAS, the Village has in full force and effect a codified set of those ordinances of the
Village which are of a general and permanent nature, which said codified set is known and designated as
the Village Code of the Village of Oswego, as amended; and
WHEREAS, Title 6 Chapter 1 provides for the provision of the Police Department; and
WHEREAS, the Village Board finds it necessary and proper to amend said Code as follows,
which this Board finds is in the best interests of the Village of Oswego.
NOW THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE OF OSWEGO, KENDALL COUNTY, ILLINOIS, AS FOLLOWS:
Section 1:
That Title 6 Chapter 1 of the Village Code of the Village of Oswego is hereby
amended as follows:
6-1-3: DEPUTY CHIEF OF POLICE AND COMMANDER
The Chief of Police shall have the authority to recruit and appoint individuals to the positions of Deputy
Chief of Police and Commander. Potential appointees may be appointed from any rank of sworn office or
from outside of the organization. A Deputy Chief of Police and a Commander shall serve at the pleasure
of the Chief of Police. The positions of Deputy Chief of Police and Commander are specifically exempt
from the provisions of 65 Illinois Compiled Statutes 5/10-2.1-1 et seq. If a Deputy Chief of Police or
Commander is appointed from the ranks of the Oswego Police Department, the Chief of Police may, at
his discretion, at any time recommend demotion of the officer to the position held prior to the
appointment.
6-1-3: APPOINTMENTS: 6-1-4: APPOINTMENTS
All appointments for the position of Police Officer except that of the Chief and the management ranks of
Deputy Chief of Police and Commander shall be made by the Board of Police Commissioners from those
applicants who have passed the examination(s) as provided for by the Board of Police Commissioners
and/or state law. Each appointee, before entering upon the duties of his office, shall take and subscribe the
oath of office prescribed by law. Such oath shall be administered as required by law. The oath shall be
filed in the office of the Village Clerk.
6-1-4: DUTIES AND POWERS OF DEPARTMENT MEMBERS:
6-1-5: DUTIES AND POWERS OF DEPARTMENT MEMBERS:
6-1-5: SERVING PROCESS: 6-1-6: SERVING PROCESS:
6-1-6: CONDUCT OF MEMBERS: 6-1-7: CONDUCT OF MEMBERS:
6-1-7: WITNESS FEES: 6-1-8: WITNESS FEES:
6-1-8: POLICE PENSION FUND: 6-1-9: POLICE PENSION FUND:
6-1-9: BOARD OF POLICE COMMISSIONERS: 6-1-10: BOARD OF POLICE COMMISSIONERS:
6-1-10: BACKGROUND CHECKS: 6-1-11: BACKGROUND CHECKS:
6-1-11: ADMINISTRATIVE BOOKING FEE: 6-1-12: ADMINISTRATIVE BOOKING FEE:
Section 2:
All Ordinances or parts of Ordinances in conflict with the provisions of this
Ordinance are to the extent that such conflicts exist, are hereby repealed.
Section 3:
Should any sentence, exception, clause, part or provision of this Ordinance be
declared, by a court of competent jurisdiction, to be invalid; the same shall not affect the validity of the
Ordinance as a whole or any part thereof other than the part declared to be invalid.
Section 4:
This Ordinance shall be in full force and effect from and after its passage
approval and publication is required by law.
Section 5:
This Ordinance shall be published in book or pamphlet form as provided by the
Illinois Municipal Code.
PASSED by the Board of Trustees of the Village of Oswego, Kendall County, Illinois this ___ day of
October 2014.
TONY GILES
TERRY MICHELS
GAIL JOHNSON
JUDY SOLLINGER
PAM PARR
SCOTT VOLPE
APPROVED by me, Brian LeClercq, as Village President of Board of Trustees of the Village of
Oswego, Kendall County, Illinois this ___ day of October 2014.
Brian LeClercq, Village President
Tina Touchette, Village Clerk
STATE OF ILLINOIS
)
)
COUNTY OF KENDALL
SS
)
CLERK'S CERTIFICATE
I, Tina Touchette, the duly qualified and acting Village Clerk of the Village of Oswego, Kendall
County, Illinois, do hereby certify that I am the keeper of its books and records and that the attached hereto
is a true and correct copy of an Ordinance entitled:
POLICE DEPARTMENT
which Ordinance was duly adopted by said Board of Trustees at a regular meeting held on the ___ day of
October 2014.
I do further certify that a quorum of said Board of Trustees was present at said meeting and that the
Board complied with all requirements of the Illinois Open Meetings Act.
IN WITNESS WHEREOF, I have hereunto set my hand this ___ day of October 2014.
Village of Oswego
(Seal)
100 Parkers Mill • Oswego, IL. 60543 • (630) 554-3618 • Fax: (630) 554-3306
AGENDA MEMORANDUM
TO:
Village President Brian LeClercq and Board of Trustees
CC:
FROM:
Mark G. Horton, CPFO, Finance Director
DATE:
September 25, 2014
AGENDA:
October 21, 2014 Committee of the Whole Meeting
SUBJECT:
Police Pension Funding Policy promulgated by Governmental Accounting
Standards Board (GASB) Statements #67 and #68
Purpose
Inform the Village Board on the changes in accounting and financial reporting for pension plans.
Discuss the Police Pension Fund Funding Policy which is recommended to be put in place to
guide the decisions made in determining the annual amount to contribute to the Police Pension
Fund.
Background
Current financial reporting for pension funds follows GASB Statements No. 25 and No. 27 which
required employers to disclose information on plan assets and liabilities in the financial reports.
The standards also required the disclosure of the actuarially determined annual required
contribution (ARC) and the percentage of the ARC actually contributed. These disclosures
provided for a close link between accounting and funding measures for pension funds. These
disclosures were reported in the annual audit within the Notes disclosure section and Required
Supplemental Information section of the audit report.
Discussion
In 2013, GASB released two new statements (Statement 67, Financial Reporting for Pension
Plans and Statement 68, Accounting and Financial Reporting for Pensions) that will become
effective for our fiscal years ending April 30, 2015 and 2016. These two standards focus on
accounting measurements of pension liabilities and not on how employers fund the cost of
benefits or calculate the ARC. The Unfunded Pension Liability will also now be reported on the
face of the financial statements versus being just disclosed in previous statements.
Since the new statements focus on how the accounting for pension liabilities and not the costs of
benefits or on the calculation of the ARC, it is suggested local governments document how the
ARC will be determined. The creation of a Funding Policy will provide the guidance for making
decisions on the annual contribution amount.
The attached Police Pension Funding Policy documents how the Village currently determines the
ARC or annual funding for the pension fund. The policy incorporates the recommendations from
the Center for State and Local Government Excellence which convened a Pension Funding Task
Force made up of many national and state organizations.
Funding
N/A
Recommendation
Staff recommends moving forward with the Policy for Village Board adoption at the next Village
Board meeting on October 21, 2014.
Strategic Planning Objective:
S.P.G. 1.1
Maintain mindful fiscal policy that strikes a healthy balance between resources
and needs.
RESOLUTION NO. 14 - R _______________________________________________________________________
A RESOLUTION ADOPTING A FUNDING POLICY FOR THE
VILLAGE OF OSWEGO POLICE PENSION FUND
________________________________________________________________________
WHEREAS, the Village of Oswego , Illinois (the “Village”) is an Illinois home-rule
municipality pursuant to provisions of Article VII, Section 6 of the Illinois Constitution, 1970, and as
such the Village may exercise any power or perform any function pertaining to its government and
affairs; and
WHEREAS, the Village of Oswego has a Police Pension Fund; and
WHEREAS, the Village is required to annually contribute an amount to meet the requirements of
the pension fund; and
WHEREAS, the Village has created a Funding Policy for the purposes of documenting the
guidelines used to determine the annual contribution amount; and
WHEREAS, the Funding Policy should be adopted by the Village Board in compliance with
accounting and financial best practices.
NOW, THEREFORE, BE IT RESOLVED by the Village President and Board of Trustees of
the Village of Oswego, Illinois, that the Village of Oswego Funding Policy for the Police Pension Fund is
hereby adopted.
NOW, THEREFORE, BE IT RESOLVED, BY THE VILLAGE PRESIDENT AND
BOARD OF TRUSTEES OF THE VILLAGE OF OSWEGO, KENDALL COUNTY, ILLINOIS,
AS FOLLOWS:
SECTION 1.
The Village President and Village Clerk are hereby authorized and directed to execute on behalf
of the Board of Trustees of the Village of Oswego substantially in the form attached as Exhibit “A.”
SECTION 2. REPEALER
All Resolutions or parts of Resolutions in conflict with any of the provisions of this Resolution
shall be, and the same hereby repealed.
SECTION 3. SEVERABILITY
This Resolution and every provision thereof shall be considered severable. In the event that any
court of competent jurisdiction may find and declare any word, phrase, clause, sentence, paragraph,
provision or section or part of a phrase, clause, sentence, paragraph, clauses, sentences, paragraphs and
provisions and parts of phrases, clauses, sentences, paragraphs, provisions and sections not ruled void or
unconstitutional shall continue in full force and effect.
SECTION 4. EFFECTIVE DATE
This Resolution shall be in full force and effect from and after its passage.
PASSED by the Board of Trustees of the Village of Oswego, Kendall County, Illinois this 21st
day of October, 2014.
TONY GILES
TERRY MICHELS
GAIL JOHNSON
JUDY SOLLINGER
PAM PARR
SCOTT VOLPE
APPROVED by me, Brian LeClercq, as President of the Village of Oswego, Kendall County,
Illinois, this 21st day of October, 2014.
___________________________________
BRIAN LECLERCQ, VILLAGE PRESIDENT
__________________________
Resolution 14 – R –
Page 2
STATE OF ILLINOIS )
COUNTY OF KENDALL
)
)
SS
CLERK'S CERTIFICATE
I, Tina Touchette, the duly qualified and acting Village Clerk of the Village of Oswego, Kendall
County, Illinois, do hereby certify that I am the keeper of its books and records and that the attached
hereto is a true and correct copy of a Resolution entitled:
A RESOLUTION ADOPTING A FUNDING POLICY FOR THE
VILLAGE OF OSWEGO POLICE PENSION FUND
which Resolution was duly adopted by said Board of Trustees at a regular meeting held on the 21st day of
October, 2014.
I do further certify that a quorum of said Board of Trustees was present at said meeting and that
the Board complied with all requirements of the Illinois Open Meetings Act.
IN WITNESS WHEREOF, I have hereunto set my hand this 22nd day of October, 2014.
Village of Oswego
(Seal)
Resolution 14 – R –
Page 3
EXHIBIT A
VILLAGE OF OSWEGO
POLICE PENSION FUNDING POLICY
Adopted October 21, 2014
Applicability
This policy applies to the calculation of the Village of Oswego’s “annual required contribution” (ARC) to the
Village of Oswego Police Pension Fund, a police pension trust fund organized under Article III of the Illinois
Pension Code.
Background
The financial objective of a defined benefit pension plan is to fund the long-term cost of benefits provided to the
plan participants. In order to assure that the plan is financially sustainable, the plan should accumulate adequate
resources in a systematic and disciplined manner over the active service life of benefitting employees. This
funding policy outlines the method the Village will utilize to determine it’s actuarially determined contribution to
the Village of Oswego Police Pension Fund to fund the long-term cost of benefits to the plan participants and
annuitants.
This funding policy was developed according to the guidelines for state and local governments set by the Pension
Funding Task Force convened by the Center for State and Local Government Excellence. The guidelines set by
this task force outline the following objectives for pension funding policy:
•
•
•
•
•
Actuarially Determined Contributions. A pension funding plan should be based upon an actuarially
determined annual required contribution (ARC) that incorporates both the cost of benefits in the current
year and the amortization of the plan’s unfunded actuarial accrued liability.
Funding Discipline. A commitment to make timely, actuarially determined contributions to the
retirement system is needed to ensure that sufficient assets are available for all current and future retirees.
Intergenerational equity. Annual contributions should be reasonably related to the expected and actual
cost of each year of service so that the cost of employee benefits is paid by the generation of taxpayers
who receives services from those employees.
Contributions as a stable percentage of payroll. Contributions should be managed so that employer
costs remain consistent as a percentage of payroll over time.
Accountability and transparency. Clear reporting of pension funding should include an assessment of
whether, how, and when the plan sponsor will ensure sufficient assets are available for all current and
future retirees.
Police Pension Funding Policy
Village Annual Required Contribution (ARC)
The Village will determine its ARC to the Village of Oswego Police Pension Fund using the following principles:
a. The ARC will be calculated by an enrolled actuary hired and paid for by the Village.
b. The ARC will include the normal cost for current service and amortization to collect or refund any
under/over funded amount.
c. The normal cost will be calculated using the entry age normal level of percentage of payroll actuarial cost
method using the following assumptions:
Page 1
EXHIBIT A
i.
ii.
iii.
The investment rate of return assumption will be 7.00% per year.
The salary increase assumption will be 5.50% per year.
Non-economic assumptions, such as rates of separation, disability, retirement, mortality, etc.,
shall be determined by Village management in consultation with the actuary to reflect current
experience.
d. The difference between the accrued liability and actuarial value of assets will be amortized to achieve
100% funding by the end of calendar year 2033 (a 40 year closed period that began in 1993) based upon a
level percentage of payroll.
e. Actuarial assets will be determined using market valuation and/or a five year average market value.
The Village will make its actuarially determined contribution to the Village of Oswego Police Pension Fund
monthly within two weeks after the receipt of property tax distributions from the Kendall County Treasurer.
Transparency and Reporting
Funding of the Village of Oswego Police Pension Fund should be transparent to vested parties including plan
participants, annuitants, the Village of Oswego Police Pension Fund Board, the Village Board, and Village of
Oswego residents. In order to achieve this transparency, the following information shall be distributed:
a. A copy of the annual actuarial valuation for the Village of Oswego Police Pension Fund shall be made
available to the Village Board and the Police Pension Fund Board. The annual actuarial report will be
reviewed with the Village of Oswego Board and the Police Pension Board.
b. The Village’s Comprehensive Annual Financial Report shall be published on its website. This report
includes information on the Village’s annual contribution to the Village of Oswego Police Pension Fund,
and funded status of the Village of Oswego Police Pension Fund.
c. Each year, the Village Board shall approve the Village’s annual contribution to the Village of Oswego
Police Pension Fund in conjunction with the adoption of the annual property tax levy.
d. The Village’s annual operating budget shall include the Village’s contribution to the Village of Oswego
Police Pension Fund shown as an expenditure of the General Fund within the Police department budget.
The budget will have a matching revenue line item in the Police Pension Fund. The budget document
shall be published on the Village website and made available for public inspection at Village Hall in the
Finance Department.
Review of Funding Policy
Funding a defined benefit pension plan requires a long-term horizon. Assumptions and inputs into the policy
should focus on long-term trends, not year-to-year shifts in the economic or non-economic environments.
Generally, assumptions or inputs should be evaluated and changed if long-term economic or noneconomic inputs
have fundamentally changed or are no longer reasonable. As such, the Village will review this policy at least
every three years to determine if changes to this policy are needed to ensure adequate resources are being
accumulated in the Village of Oswego Police Pension Fund. The Village reserves the right to make changes to
this policy at any time if it is deemed appropriate.
Page 2
COMMUNITY DEVELOPMENT DEPARTMENT
100 Parkers Mill  Oswego, IL 60543  (630) 554-3622  Fax: (630) 551-3975
AGENDA MEMORANDUM
TO:
CC:
FROM:
Rod Zenner, Community Development Director
DATE:
October 10, 2014
AGENDA:
October 21, 2014
SUBJECT:
111 Spencer Lane
Variance – Accessory building separation from primary structure
Project #885.14
Purpose:
To review a request for a variance to permit a reduction in the separation between a primary structure
(single family home) and accessory structure (swimming pool) at 111 Spencer Lane.
Background:
The applicant is requesting approval of a variance to Section 10.01F(3) of the Zoning Ordinance,
which requires a 10 foot separation between principal structures on a zoning lot, and accessory
structures. The proposal is to reduce the separation distance to 6 feet. The property is zoned as R-2
Single Family Residence District and is improved with a single family home. See attached Zoning
Board of Appeals staff report for further details.
Discussion:
The ZBA reviewed the project on October 9, 2014. The applicant was in attendance and the staff report
was presented. The Board discussed the requested variance. Concerns were raised as to the location of
stairs extending from an upper level outdoor deck, and the location of the landing in relation to the
proposed swimming pool. It was suggested and agreed that through the building permit phase the
location of the stair landing would be evaluated and adjusted for safety purposes. There was no public
testimony.
By a vote of 7 ayes and one abstention, the Plan Commission recommended approval of the request.
Funding:
Not Applicable
Recommendation:
Staff is presenting for Board consideration, the First Read of Ordinance granting approval of the
Variance request for 111 Spencer Lane, and waiving second read.
Strategic Plan Relevance:
Not Applicable
ra
ft
VILLAGE OF OSWEGO
ORDINANCE NO. 14 -- ____
AN ORDINANCE GRANTING
A VARIANCE FOR ACCESSORY STRUCTURE SEPARATION FROM PRIMARY
STRUCTURE AT 111 SPENCER LANE
IN THE VILLAGE OF OSWEGO, KENDALL COUNTY, ILLINOIS
D
(111 Spencer Lane – Variance)
ADOPTED BY
THE PRESIDENT AND BOARD OF TRUSTEES
OF THE
VILLAGE OF OSWEGO
This
day of
, 2014
Published in pamphlet form by authority of the President
and Board of Trustees of the Village of Oswego on ___________, 2014.
ORDINANCE NO. 14 -- __
_____________________________________________________________________________________
to incur debt; and
WHEREAS, Theresa and Christos Drossos have filed an application for a variance to Section
10.01F(3) to reduce the separation distance between the primary structure and an accessory structure
(swimming pool) from 10’ to 6’; and
WHEREAS, the subject property is commonly known as 111 Spencer Lane, zoned R-2 Single
Family Residence District, and is currently improved with a single family home; and
WHEREAS, a Public Hearing was held on October 9, 2014 by the Zoning Board of Appeals to
consider the variance; and
WHEREAS, the President and Board of Trustees make the following findings of fact:
1. The proposed building or use at the particular location requested is necessary or desirable to provide a
service or a facility which is in the best interest of the public convenience and will contribute to the
general welfare of the neighborhood or community. The variation proposed is to reduce the setback
of the pool from the dwelling from 10’ to a 6’ configuration which will give the space needed to keep
it away from the Drainage and Utility Easement.
2. The proposed building or use will not have a substantial or undue adverse effect upon adjacent
property, the character of the neighborhood, traffic conditions, utility facilities and other matter
affecting the public health, safety and general welfare. The configuration of the Drainage and Utility
Easement on the property prohibits having a functional area to place the pool in the yard.
Ordinance No. 14 -- __
Page 2
3. The proposed building or use will be designed, arranged and operated so as to permit the development
and use of neighboring property in accordance with the applicable district regulations. The
configuration of the Drainage and Utility Easement is unique to this lot. It is not typical in terms of
the use of the backyard.
4. The proposed building or use has been considered in relation to the goals and objectives of the
Official Plan of the Village. Due to the pool location in the rear yard it would not injure any other
property or property value. The location of the swimming pool follows neighborhood guidelines set
by the development/association regarding pools and proper guidelines will be followed regarding
putting in an in-ground swimming pool.
5. There shall be reasonable assurance that the proposed building or use will be completed and
maintained in a timely manner, if authorized. The intent of the variance is that there is enough
separation between structures, and keeping the swimming pool structure away from the Drainage and
Utility Easement. The swimming pool will be constructed in a timely manner as weather permits.
and find it appropriate to grant the variance presented to the Zoning Board of Appeals.
NOW, THEREFORE, BE IT ORDAINED BY THE VILLAGE PRESIDENT AND BOARD
OF TRUSTEES OF THE VILLAGE OF OSWEGO, KENDALL COUNTY, ILLINOIS, as follows:
Section 1: That the recitals set forth above are incorporated here by reference, and the application
for a variance for accessory structure separation from primary structure at 111 Spencer Lane is approved.
The property is legally described on Exhibit “A” and indicated on an accurate map identified as Exhibit
“B.”
Section 2: If any section, paragraph, subdivision, clause, sentence or provision of this Ordinance
shall be adjudged by any Court of competent jurisdiction to be invalid, such judgment shall not affect,
impair, invalidate or nullify the remainder thereof, which remainder shall remain and continue in full
force and effect.
Section 3: All ordinances or parts of ordinances in conflict herewith are hereby repealed to the
extent of such conflict.
Section 4: This Ordinance shall be in full force and effect immediately upon its passage and
approval. Publication in pamphlet form is hereby authorized, as provided by law.
PASSED by the Board of Trustees of the Village of Oswego, Kendall County, Illinois this ____
day of _____, 2014.
TONY GILES
PAM PARR
GAIL JOHNSON
JUDY SOLLINGER
TERRY MICHELS
SCOTT VOLPE
Page 3
Illinois, this ____ day of ____, 2014.
_______________________________________
BRIAN LeCLERCQ, VILLAGE PRESIDENT
_____________________________________
TINA TOUCHETTE, VILLAGE CLERK
Page 4
STATE OF ILLINOIS
)
)
COUNTY OF KENDALL )
SS
CLERK'S CERTIFICATE
I, Tina Touchette, the duly qualified and acting Village Clerk of the Village of Oswego,
Kendall County, Illinois, do hereby certify that I am the keeper of its books and records and that
the attached hereto is a true and correct copy of an Ordinance entitled:
which Ordinance was duly adopted by said Board of Trustees at a regular meeting held on the
_______ day of ______, 2014.
I do further certify that a quorum of said Board of Trustees was present at said meeting and
that the Board complied with all requirements of the Illinois Open Meetings Act.
IN WITNESS WHEREOF, I have hereunto set my hand this _____ day of ____, 2014.
Village of Oswego
(Seal)
Page 5
EXHIBIT “A”
LOT 170 IN DEERPATH TRAILS UNIT FOUR, ACCORDING TO THE PLAT THEREOF
RECORDED AUGUST 22, 2005 AS DOCUMENT 200500024814, IN THE VILLAGE OF
OSWEGO, KENDALL COUNTY, ILLINOIS.
Commonly known as:
111 Spencer Lane, Oswego IL 60543
Page 6
Exhibit B
111 Spencer Lane
435
437
421
439
441
105
r
he
D
field
Am
Deer
rst
Ci
104
r
109
105
106
436
107
438
440
108
Spencer L n
442
109
111
359
357
355
353
351
107
110
111
113
112
115
114
117
349
347
345
Andover Dr
360
358
356
354
352
350
348
346
344
342
340
328
123
²
Date Printed: 9/22/2014
100
Feet
The requested map will be created for study purposes only.Please refer to the official recorded plats or deeds for the actual legal
descriptions and property dimensions. No liability is assumed for the accuracy of the data delineated herein, either expressed or
implied by the Village of Oswego or its employees. This work is protected by the United States Copyright Act of 1976 (17 U.S.C.
Sec101 et seq). You are not permitted to use and/or reproduce any part of a copyrighted work of the Village of Oswego in
violation of Federal Copyright Law. Doing so may result in prosecution under such law. If you wish to use property in which the
Village of Oswego owns a copyright, you must obtain written permission through the Community Development Department in the
Village of Oswego, located at 100 Parkers Mill, Oswego, Illinois 60543.
Overview
COMMUNITY DEVELOPMENT DEPARTMENT
STAFF REPORT
DATE:
September 24, 2014
TO:
Chairman and Zoning Board of Appeals
FROM:
Karen Zilly, Planner
SUBJECT:
Staff Report for the October 9, 2014 Zoning Board of Appeals
111 Spencer Lane
Variance – Accessory building separation from primary structure
Project #885.14
Applicant
Theresa and Chris Drossos, owner
Petition
The applicant is requesting approval of a variance to Section 10.01F(3) of the Zoning Ordinance,
which requires a 10 foot separation between principal structures on a zoning lot, and accessory
structures.
Controlling Agreements
None.
Existing Zoning, Land Use and Location
The property is located at 111 Spencer Lane, in the Deerpath Trails development. The property
is zoned as R-2 Single Family Residence District and is currently improved with a single-family
home.
Surrounding Zoning and Land Uses
North: R-2 Single Family Residence District
South: R-2 Single Family Residence District
East: R-2 Single Family Residence District
West: R-2 Single Family Residence District
Relationship to Village Comprehensive Plan
The proposed use and zoning of the property is consistent with the Comprehensive Plan’s
designation of the area as “Residential”.
Donation Requirements
None.
111 Spencer Lane
Variance – Accessory Building separation from principal structure
Project #885.14
September 24, 2014
Page 2
Staff Analysis
The applicant wishes to construct an in-ground pool in the back yard of the property. The
requested action is a variance to allow the separation between the pool and the home – at its
closest point – to be reduced from 10 feet to 6 feet.
After reviewing the “Standards for a Variation”, staff is of opinion that the request may not meet
the strictest interpretation of all five standards. However, the subject property is a unique lot in
that although it is deeper than adjacent lots in the neighborhood, over two-thirds of the backyard
is encumbered with a drainage and utility easement as well as a stormwater management
easement. This limits flexibility in the location of the pool.
Staff believes that the requested location of the swimming pool will not diminish the intent of the
zoning ordinance, and will not impede adequate light, pure air, privacy and/or convenience of
access to the principal structure. Further, at the proposed location, there will continue to be
adequate access between the pool and house.
Staff Comment
Staff is presenting this request to the Zoning Board of Appeals for review and to receive
comments from the public hearing.
Standards for a Variation
See attached.
Recommendation
Staff recommends the ZBA accept the findings of fact for the standards for a variation and
recommends approval of the variations to Section 10.01F(3) of the Zoning Ordinance at
111 Spencer Lane.
Attachments:
Standards for a Variation, Location Map, Plan
Exhibit B
111 Spencer Lane
435
437
421
439
441
105
r
he
D
field
Am
Deer
rst
Ci
104
r
109
105
106
436
107
438
440
108
Spencer L n
442
109
111
359
357
355
353
351
107
110
111
113
112
115
114
117
349
347
345
Andover Dr
360
358
356
354
352
350
348
346
344
342
340
328
123
²
100
Feet
Overview
www.oswegoil.org
AGENDA MEMORANDUM
TO:
CC:
FROM:
DATE:
October 13, 2014
AGENDA:
October 21, 2014
SUBJECT:
Minor Amendment to the Final PUD (Oswego Commons)
2810 Route 34, Portillo’s Hot Dogs, LLC
Project #886.14
Purpose:
To review a request for a minor amendment to the Portillo’s restaurant Final PUD to allow a
modification to the drive-thru lane configuration.
Background:
Date
January 28, 2002
March 20, 2006
Action
Approved Final Plat by Ordinance #02-05
Approved outdoor seating by Ordinance #06-34.
The 1.76 acre property is located at 2810 Route 34 in the Oswego Commons development, is
zoned B-3 Commercial Service and Wholesale District (special use for a PUD) and is currently
improved with a Portillo’s restaurant.
Discussion:
The applicant, Portillo’s Hot Dogs, LLC, is requesting a minor amendment to the approved Final
PUD to modify the drive-thru lane configuration in order to increase the vehicular stacking
capacity. Currently a single lane of vehicles stacks pending order placement. The proposal will
expand the drive-thru to two lanes for additional stacking capacity to the point of placing the
order, and then taper back to the one existing lane where vehicles will alternate to proceed for
payment and order pickup.
Existing signage will be removed for the construction phase and reinstalled. Although three
ornamental trees will be removed for the construction/modification, they will be replaced by 17
shrubs due to the resulting reduced size of the landscape island. Although the proposal reduces
the available parking, the site still exceeds minimum parking requirements (69 spaces required –
94 spaces provided).
2810 Route 34, Portillo’s Hot Dogs, LLC
Minor Amendment to the Final PUD
Project #886.14
October 13, 2014
Page 2
Through the Village review process, all review comments have been sufficiently addressed.
The Plan Commission is not required to review requests for Minor Amendments.
Funding:
Not Applicable
Recommendation:
Staff recommends approval of the Minor Amendment request, and is presenting the First
Read of the Ordinance approving a minor amendment to the Final PUD for Portillo’s Hot
Dogs, LLC for a modification to the drive-thru lane configuration at 2810 Route 34. Staff
recommends waiving the second read of the ordinance and approving the minor
amendment.
Strategic Plan Objectives:
Not Applicable
VILLAGE OF OSWEGO
AN ORDINANCE GRANTING A MINOR AMENDMENT TO THE
FINAL PLANNED UNIT DEVELOPMENT (PUD) FOR 2810 US ROUTE 34
(2810 US Route 34 – Portillo’s Hot Dogs, LLC)
ADOPTED BY
OF THE
VILLAGE OF OSWEGO
This _______ day of _____________, 2014
Prepared by and Return to:
Village of Oswego
100 Parkers Mill
Oswego, IL 60543
and Board of Trustees of the Village of Oswego on ___________ 2014.
Page 1
to incur debt; and
WHEREAS, Portillo’s Hot Dogs, LLC has submitted a request to amend the Final Planned Unit
Development (PUD) for the property generally located near the intersection of Douglas Road and US
Route 34 commonly known as 2810 US Route 34, to allow a modification to the drive-thru lane
configuration; and
WHEREAS, the Final PUD was approved on January 28, 2002 by Ordinance No. 02-05; and
WHEREAS, the property is currently zoned B-3 Community Service and Wholesale District and
is improved with a restaurant building.
Section 1:
That the recitals set forth above are incorporated here by reference, and the
application for a Minor Amendment by Portillo’s Hot Dogs, LLC to allow a modification to the drive-thru
lane configuration, is approved. The Property is legally described on Exhibit "A", indicated on an
accurate map identified as Exhibit "B", and enumerated on the following Exhibits:
Exhibit “C” – Site Layout and Paving Plan, revised 10/8/2014 (received 10/13/2014)
Exhibit “D” – Site Plan, revised 10/8/2014 (received 10/13/2014)
Page 2
force and effect.
Section 4: This Ordinance shall be in full force and effect immediately upon his passage and
day of ____, 2014.
TONY GILES
PAM PARR
GAIL JOHNSON
JUDY SOLLINGER
TERRY MICHELS
SCOTT VOLPE
Illinois this ____ day of ____, 2014.
Page 3
STATE OF ILLINOIS
)
)
COUNTY OF KENDALL )
SS
CLERK'S CERTIFICATE
____ day of _____________________ 2014.
IN WITNESS WHEREOF, I have hereunto set my hand this ____ day of
_____________________ 2014.
Village of Oswego
(Seal)
Page 4
Exhibit B
2810 US Route 34
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2758
125
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127
1400
129
137
131
2800
133
135
US
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1470
34
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2820
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100
Feet
Overview
100 Parkers Mill, Oswego, IL 60543 (630) 554-3618 Fax (630) 554-3306
MEMORANDUM
To:
CC:
From:
Village Clerk, Tina Touchette
Date:
October 15, 2014
Agenda:
October 21, 2014 Regular Village Board Meeting
Subject:
Amend Title 3, Chapter 7 Village Code of Ordinances – Decrease Class “C” Liquor
License for Hao Sushi Inc.
Purpose
To decrease Class “C” liquor license for Hao Sushi Inc.
Background
Hao Sushi Inc. located at 4571 Route 71has closed. The attached ordinance reduces the
number of Class “C” Restaurant Liquor Licenses by one.
Discussion
N/A
Funding
N/A
Recommendation
If the Board is satisfied with the terms of this ordinance, consideration to waive second read and approve
same is sought.
Strategic Planning Objective
N/A
VILLAGE OF OSWEGO
________________________________________________________________
ORDINANCE NO. 14AN ORDINANCE AMENDING TITLE 3 CHAPTER 7 OF THE CODE OF
ORDINANCES FOR THE VILLAGE OF OSWEGO, KENDALL COUNTY, ILLINOIS
Alcoholic Beverages
(Hao Sushi Inc.- 4571 Route 71, Oswego, IL; Decrease Class “C” Liquor License)
________________________________________________________________
PASSED BY THE VILLAGE BOARD
OF THE VILLAGE OF OSWEGO
This 21st day of October 2014
________________________________________________________________
Published in pamphlet form by authority of the President and Board of Trustees
of the Village of Oswego on October 22, 2014.
1
ORDINANCE NO. 14AN ORDINANCE AMENDING TITLE 3 CHAPTER 7 OF THE CODE OF
Alcoholic Beverages
WHEREAS, the Village of Oswego (“Village”) has a population of more than 25,000
and is therefore a “Home Rule Unit” under the 1970 Illinois Constitution; and
WHEREAS, the Illinois Constitution of 1970 provides that a Home Rule Unit may
exercise any power and perform any function pertaining to its government and affairs, including
but not limited to the power to regulate for the protection of the public health, safety, morals and
welfare; to license, to tax; and to incur debt; and
WHEREAS, the Village has in full force and effect a codified set of those ordinances of
the Village which are of a general and permanent nature, which said codified set is known and
designated as the Village Code of the Village of Oswego, as amended; and
WHEREAS, Hao Sushi Inc., 4571 Route 71, Oswego, IL, holds a Class “C” Restaurant
Liquor License authorizing the retail sale of alcoholic beverages on the specified premises for
consumption on the premises inside a restaurant at their location at 4571 Route 71, Oswego, IL;
and
WHEREAS, Hao Sushi Inc, 4571 Route 71, Oswego, IL,, is no longer
in business.
NOW THEREFORE BE IT ORDAINED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE OF OSWEGO, KENDALL COUNTY, ILLINOIS, AS
FOLLOWS:
Section 1: To decrease the number of Class “C” Liquor Licenses from eighteen (18) to
seventeen (17) licenses.
Section 2: That Section 3-7-11 of the Village Code of the Village of Oswego is hereby
amended as follows:
3-7-11: NUMBER OF LIQUOR LICENSES:
There shall be no more than four (4) Class A licenses in effect at any one time.
There shall be no more than eighteen (18) Class B licenses in effect at any one time.
There shall be no more than eighteen (17) Class C licenses in effect at any one time.
There shall be no more than three (3) Class D licenses in effect at any one time.
There shall be no more than three (3) Class E licenses in effect at any one time.
There shall be no more than three (3) Class F licenses in effect at any one time.
There shall be no more than two (2) Class G license in effect at any one time.
There shall be no more than zero (0) Class H license in effect at any one time.
There shall be no more than one (1) Class I license in effect at any one time.
There shall be no more than one (1) Class J license in effect at any one time.
There shall be no more than one (1) Class K license in effect at any one time.
There shall be no more than one (1) Class L license in effect at any one time.
There shall be no more than one (1) Class M license in effect at any one time.
Section 3:
All Ordinances or parts of Ordinances in conflict with the provisions of
this Ordinance are to the extent that such conflicts exist, are hereby repealed.
Section 4:
Should any sentence, exception, clause, part or provision of this
Ordinance be declared, by a court of competent jurisdiction, to be invalid; the same shall not
affect the validity of the Ordinance as a whole or any part thereof other than the part declared to
be invalid.
Section 5:
This Ordinance shall be in full force and effect from and after its passage
approval and publication is required by law.
Section 6:
This Ordinance shall be published in book or pamphlet form as provided
by the Illinois Municipal Code.
PASSED by the Board of Trustees of the Village of Oswego, Kendall County, Illinois
this 21st day of October 2014.
TONY GILES
TERRY MICHELS
GAIL JOHNSON
JUDY SOLLINGER
PAM PARR
SCOTT VOLPE
APPROVED by me, Brian LeClercq, as Village President of Board of Trustees of the
Village of Oswego, Kendall County, Illinois this 21st day of October 2014.
Brian LeClercq, Village President
STATE OF ILLINOIS
)
COUNTY OF KENDALL
)
)
SS
CLERK'S CERTIFICATE
Kendall County, Illinois, do hereby certify that I am the keeper of its books and records and that the
attached hereto is a true and correct copy of an Ordinance entitled:
AN ORDINANCE AMENDING TITLE 3 CHAPTER 7 OF THE CODE OF
Alcoholic Beverages
which Ordinance was duly adopted by said Board of Trustees at a regular meeting held on the 21st
day of October 2014.
IN WITNESS WHEREOF, I have hereunto set my hand this 22nd day of October 2014.
Village of Oswego
(Seal)
100 Parkers Mill  Oswego, IL. 60543  (630) 554-3618  Fax: (630) 554-3306
MEMORANDUM
To:
Cc:
From:
Public Works Director Jennifer M. Hughes, P.E., CFM
Date:
October 15, 2014
Agenda:
October 21, 2014 Village Board Meeting
Subject:
Resolution Authorizing the Execution of an Agreement Release and Hold
Harmless Agreement for Installation of Four (4) Village Of Oswego Signs to be
Placed within Specified Kendall County Right-Of-Ways
Purpose: The agreement provides for the installation of Village Entry Signs within Kendall
County right-of-ways.
Background:
The Board Action Previously Taken:
Date
None
Action
The FY 13/14 budget included funding to install tavern and monument signs around the Village.
Due to the time available between my arrival and the end of the fiscal year, we carried the
funding into FY14/15. We prepared specifications and contracted with Schoppe Design
Associates to prepare drawings. We then obtained permits from the Illinois Department of
Transportation. Kendall County Highway Department does not authorize entry signs through the
permit process. It is asking the Village to enter into the attached agreement.
We will install signs at four locations:




Orchard Road and Route 34 intersection;
Grove Road at the Village limits;
Plainfield Road at the Village limits
Orchard Road north of Tuscany Trail
Discussion:
x:\publicworks\capital\village entry signs\kendall county agreement\jh101514.pbot iga w kendall county for entry signs.docx
Village Entry Signs
October 21, 2014
2|Page
The salient points of the agreement follow:
1. The Village assumes all risk and liability for accidents and damages related to the signs;
2. The Village shall indemnify, hold harmless and defend Kendall County and others for
claims related to the signs;
3. Sign placement, installation, and maintenance shall minimize impediments to traffic;
4. The Village needs to repair any damage caused by the installation of the signs;
5. The Village must move the sign if so directed by the County;
The Village Attorney has reviewed the agreement and has no objections.
Funding: The FY14/15 budget includes $60,000 for this project in the Capital Improvement
Fund. Design expenses are $1,900 leaving an available balance of $58,100. We will pay the
additional costs for the project from reserves.
Recommendation: Staff recommends approval of the attached resolution.
Strategic Planning Objectives: N/A
RESOLUTION NO. 14 - R - __
_______________________________________________________________________
RESOLUTION AUTHORIZING THE EXECUTION OF AN AGREEMENT RELEASE
AND HOLD HARMLESS AGREEMENT FOR INSTALLATION OF FOUR (4)
VILLAGE OF OSWEGO SIGNS TO BE PLACED WITHIN SPECIFIED KENDALL
COUNTY RIGHT-OF-WAYS
________________________________________________________________________
affairs; and
WHEREAS, the Village has a population of more than 25,000 and is therefore a "Home Rule
Unit" under the 1970 Illinois Constitution; and
WHEREAS, it is in the best interest of the Village of Oswego to approve the agreement
substantially in the form attached hereto marked as Exhibit “A”.
AS FOLLOWS:
SECTION 1.
SECTION 2. REPEALER
1
PASSED by the Board of Trustees of the Village of Oswego, Kendall County, Illinois this __ day
of ____ 2014.
TONY GILES
TERRY MICHELS
GAIL JOHNSON
JUDY SOLLINGER
PAM PARR
SCOTT VOLPE
Illinois, this ___ day of _____ 2014.
___________________________________
__________________________
2
STATE OF ILLINOIS
)
)
COUNTY OF KENDALL )
SS
CLERK'S CERTIFICATE
the attached hereto is a true and correct copy of a Resolution entitled:
RESOLUTION AUTHORIZING THE EXECUTION OF AN AGREEMENT RELEASE
AND HOLD HARMLESS AGREEMENT FOR INSTALLATION OF FOUR (4)
VILLAGE OF OSWEGO SIGNS TO BE PLACED WITHIN SPECIFIED KENDALL
which Resolution was duly adopted by said Board of Trustees at a regular meeting held on the __
day of ____ 2014.
I do further certify that a quorum of said Board of Trustees was present at said meeting
and that the Board complied with all requirements of the Illinois Open Meetings Act.
IN WITNESS WHEREOF, I have hereunto set my hand this ___ day of _____ 2014.
Village of Oswego
(Seal)
3
EXHIBIT A
RELEASE AND HOLD HARMLESS AGREEMENT FOR INSTALLATION OF FOUR
(4) VILLAGE OF OSWEGO SIGNS TO BE PLACED WITHIN SPECIFIED KENDALL
THIS RELEASE AND HOLD HARMLESS AGREEMENT (“the Agreement”) is
entered into by the Village of Oswego (the “Village”) a municipal corporation of the State of
Illinois, for the benefit of the County of Kendall, a unit of local government of the State of
Illinois (“Kendall County”).
WHEREAS, the Village of Oswego has requested permission to install four (4) Village
signs within Kendall County Rights-of-Way located at the following locations:
•
•
•
•
Orchard Road and Route 34 intersection
Grove Road
Plainfield Road
Orchard Road and Tuscany Trail intersection; and
WHEREAS, the Village of Oswego has committed to building breakaway type signs at
each of the above locations, utilizing a wooden monument sign with a concrete foundation below
grade at the intersection of Orchard Road and Route 34, and wooden “tavern” style signs at the
three other locations; and
WHEREAS, Kendall County is prepared to allow for the installations in the public rightof-ways identified above, provided that the Village of Oswego agrees to the provisions of this
Agreement, including to waive any liability that Kendall County may have or be exposed to and
indemnify and hold Kendall County harmless from any liability that may arise as a result of the
sign installation in or on Kendall County's public right-of-ways.
NOW, THEREFORE, in consideration of the recitals set forth above, which are
incorporated into the body of this Agreement by reference, and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged by the parties hereto,
the Village hereby agrees as follows:
1. The Village shall be permitted to place the above described signage within the outlined
Kendall County right-of-ways located at the Orchard Road and Route 34 intersection;
Grove Road; Plainfield Road, and; the intersection of Orchard Road and Tuscany Trail
only upon acceptance of the terms of this Agreement.
2. The Village, its successor and assigns assume all risk and liability for accidents and
damages that may accrue to persons and property by reason of the location, construction,
installation, placement, operation, maintenance, repair and work referred to herein. The
Village hereby waives, relinquishes, absolves, and discharges Kendall County from any
and all liability, damages, costs, and expenses of any nature whatsoever resulting directly
or indirectly from the installation and placement of the herein described signage on
Kendall County right-of-ways, including, without limitation, any injuries or damages that
the Village and the employees, contractors, subcontractors, invitees and guests of the
Village may suffer or incur in connection with the installation and placement of signage
in Kendall County's right-of-ways.
3. The Village shall indemnify, hold harmless and defend with counsel of Kendall County’s
own choosing, Kendall County, its officials, officers, employees, including their past,
present, and future board members, elected officials and agents (collectively the
“County”) from and against any and all liability, losses, claims, damages, costs,
attorney(s) fees and expenses of whatever kind or nature which the County may sustain,
suffer or incur, or be required to pay due to damages or losses suffered by any person,
including without limitation, the employees, contractors, subcontractors, invitees, and
guests of the Village of Oswego arising out of the use, location, construction, installation,
placement, operation, maintenance, repair and work regarding the subject signage in
Kendall County’s right-of-ways. However, the County shall not be indemnified
hereunder for any loss, liability, damage, or expense resulting from its own intentional,
willful, wanton, reckless or negligent misconduct.
4. The Village shall conduct its operations in the right-of-ways in a manner so as to assure
the minimum impediment to traffic.
5. The Village shall repair any damage caused to the public right-of-way arising from or in
connection with the activity and/or installation of signage in, on, over or under the public
right-of-way by the Village. Upon completion of the signage installation, the Village
shall, at its own cost, and in a timely manner, (but in no event more than 30 days) restore
the right-of-way substantially to the same condition in which it was before the work was
commenced, with exception to the subject signage, and shall remove all debris, rubbish,
materials, apparatus, tools, and equipment, as well as all excess excavated materials, from
the right-of-way to the satisfaction of the Kendall County Engineer.
Page 2 of 4
6. The Village understands and agrees that if any of the signage is obstructing or impairing
the use of, or access to, the right-of-ways and any relevant easements, then it may
become necessary for said signage to be removed or relocated. Should such removal or
relocation become necessary, it shall be the Villages sole responsibility to effect such
removal, repair or relocation and to pay for all associated costs. It shall be at Kendall
County’s sole discretion whether such signage must be removed from the subject rightof-ways, and upon notice the Village shall remove the same within sixty (60) days and
return the subject right-of-ways to substantially the same condition they were before the
signs were installed.
7. This Agreement shall be construed in accordance with the law and Constitution of the
State of Illinois and if any provision is invalid for any reason such invalidations shall not
render invalid other provisions which can be given effect without the invalid provision.
The venue for any legal proceedings between the Village and Kendall County shall be the
Circuit Court of Kendall County, Illinois, Twenty-Third Judicial Circuit, State of Illinois.
8. This Agreement shall remain in effect for the time period that the Village utilizes the
subject right-of-ways as outlined and approved herein. However, this Agreement may be
terminated by the Village or Kendall County upon written notice delivered to the other
party at least sixty (60) calendar days prior to the effective date of termination. The
waiver and indemnification provisions shall survive termination of this Agreement.
9. The Village shall not assign, sublet, sell, or transfer its interest in this Agreement without
the prior written consent of Kendall County.
10. At no time shall Kendall County be inferred to have a duty, or otherwise be obligated to,
provide insurance for the subject improvements or otherwise indemnify and hold
harmless the Village in connection with the use, enjoyment, ownership, maintenance,
placement, construction, repair or replacement of the subject improvements.
11. Any notice required or permitted to be given pursuant to this Agreement shall be duly
given if sent by fax, certified mail, or courier service and received. As such, all notices
required or permitted hereunder shall be in writing and may be given by either (a)
depositing the same in the United States mail, addressed to the party to be notified,
postage prepaid and certified with the return receipt requested, (b) delivering the same in
person, or (c) telecopying the same with electronic confirmation of receipt.
If to the County:
County Engineer
Kendall County Highway Department
6780 Route 47
Yorkville, Illinois 60560
Page 3 of 4
With copy to:
Kendall County State’s Attorney
807 John Street,
Yorkville, Illinois 60560
If to the Grantee:
Village of Oswego
100 Parkers Mill
Oswego, Illinois 60543
12. This Agreement represents the entire agreement between the Village and Kendall County
and there are no other promises or conditions in any other agreement whether oral or
written. Except as stated herein, this agreement supersedes any other prior written or oral
agreements between the parties and may not be further modified except in writing
acknowledged by both parties.
13. Nothing contained in this Agreement, nor any act of Kendall County or the Village
pursuant to this Agreement, shall be deemed or construed by any of the parties hereto or
by third persons, to create any relationship of third party beneficiary, principal, agent,
limited or general partnership, joint venture, or any association or relationship involving
Kendall County and the Village.
14. The Village of Oswego does hereby warrant and represent that its signature set forth
below has been and is on the date of this Agreement duly authorized by all necessary and
appropriate governmental action to execute this Agreement.
IN WITNESS WHEREOF, the Village of Oswego has caused this Agreement to be
executed by its duly authorized officer on the below stated date.
Village of Oswego, Kendall County, Illinois,
a municipal corporation
By:
Village President of Oswego
Date:
Attest:
Village Clerk
Page 4 of 4
100 Parkers Mill • Oswego, IL. 60543 • (630) 554-3618 • Fax: (630) 554-3306
AGENDA MEMORANDUM
TO:
CC:
FROM:
DATE:
AGENDA:
SUBJECT:
Mark G. Horton, CPFO, Finance Director
Steve Jones, Village Administrator
October 14, 2014
October 21, 2014 Committee of the Whole Meeting
General Obligation Refunding Bonds, Series 2014
Purpose
Discuss options for decreasing the annual debt service payments on outstanding Village issued
debt. Thomas J. Gavin, Managing Director, Public Finance Department, Robert W. Baird & Co.
will be present to answer any questions on the two options presented.
Background
In 2013, the Village issued the General Obligation Refunding Bonds, Series 2013 to advance
refund the specific maturities of three bond issues. The General Obligation Alternate Revenue
Source Bond Series 2006A; maturities 2021-2025; the General Obligation Alternate Revenue
Bond Series 2007A; maturities 2020-2027 and the General Obligation Alternate Revenue Series
2007B; maturities 2020-2027 were advanced refunded to save on interest costs.
Proposed General Obligation Refunding Bonds, Series 2014
Issue General Obligation Bonds of $4,015,000 par to advance refund
$3,965,000 of General Obligation Alternate Revenue Source Bond
Series 2006A, 2006B, 2007A, 2007B. Of the total par refunded,
$2,895,000 represents General Fund obligations and $1,070,000
represents Water and Sewer Fund obligations.
Discussion
Financial Details. Another refunding opportunity is available to advance refund some earlier
maturities of the same three debt issuances mentioned above and a fourth issuance, the General
Obligation Alternate Revenue Bonds Series 2006B. The 2018, 2019 and 2020 maturities from
the G.O. Bonds, 2006A and 2006B would be refunded along with the 2016, 2017, 2018 and
2019 maturities from the G.O. Bonds, 2007A and 2007B (see exhibit A, page 1) . The
estimated savings are in the range of $138,000 to $160,000 depending on the bond market on
the day of issuance. The savings is inclusive of all bond issuance costs. The General Obligation
Bonds, Series 2006A and 2007B are currently being paid from sales tax revenue from the
General Fund. The General Obligation Bonds, Series 2006B and Series 2007A are being paid
from the Water & Sewer Fund revenues. This advance refunding will reduce the current annual
debt service on average by $30,000 from 2015 through 2019. The principal refunded will also
be “legally defeased” meaning the total principal of the refunded maturities will not be recorded
as outstanding debt for the Village.
As suggested at the last Village Board meeting the Village may also use existing cash to pay for
the same outstanding maturities from these bond issues rather than utilizing the “Advance
Refunding” method. As of the most recent audit, there is $1,624,495 available in the water fund
(above our reserve policy) and $1,180,021 available in the general fund (above our reserve
policy) for discretionary use. In this scenario, the Village would commit current unrestricted
reserve money plus $1,810,484 of additional funds to pay the amount necessary at the call dates
of December 2015 and December 2016 to pay off the callable maturities. The savings to the
Village using this method is the amount of the interest payments that were scheduled for the
respective year of maturity after the call dates which amounts to $497,264. However, if the
refunding was undertaken and the Village invested the money suggested to be used to pay off
the callable maturities, the estimated interest earnings would amount to $492,235 (see exhibit
A, page 2). The invested cash would earn at a higher interest rate than the interest rate paid on
the refinanced debt.
Exhibit A, page 3 and 4 compare the annual cash outflows between paying off all of the callable
maturities from the four bond issuances and then having to issue new debt to pay for projects
versus the proposed refunding assuming the same dollar amount used to pay off the callable
maturities is used for new projects. Page 5 of exhibit A is a summary of the two scenarios and
the annual cash outflows. The summary shows the Village would save over $2 million by
refunding the existing debt rather than using cash to pay off the debt and then have to issue new
debt at a future date.
One unintended consequence that would result from using cash to retire the debt is concern from
bond rating agencies during future reviews. The reduction of reserves (for good reason or bad)
is a “red flag” that results in additional scrutiny. Of course, this scrutiny would also occur if we
were to use reserves for capital projects.
Future Policy Considerations.
Either financial method described will result in interest savings on the outstanding debt. The
decision as to which method to use depends on your future intention as a Board with regard to
undertaking capital projects. While reserves are to provide an economic cushion, they are also
intended to fund capital projects (and avoid future or reduced debt when possible).
If the Village Board intends to increase capital project spending in the next 5-7 years, the use of
reserves to pay off the debt would not appear to be an acceptable approach. The Federal
Reserve has already indicated interest rates will be going up. Refinancing the subject debt at
historically low levels will preserve our reserves, and allow us to use these reserves to avoid (or
reduce) future debt at higher interest rates. While no decisions have been made on future capital
expenses, we will remind the Village Board that the following significant projects have been
discussed as part of our capital planning process:







Water & Sewer Improvements (Alexander Lumber - $1,000,000+-)
Orchard Road Booster Station ($3.1 Million +/-)
Local Road Program ($11 million unfunded over next 10+years)
Wolf Crossing Phase One Design Engineering ($1,020,000)
Fox River Water Treatment Facility Engineering ($5.0 million +/-)
Police Facility Architectural Design ($3.0 Million)
Rt. 34 Watermain Relocation, Signal & Pathway ($500,000)
Funding
The advance refunding option requires no immediate funding or change in the existing funding
sources.
The paying off of the debt will be funded from the cash reserves of the respective funding source.
Recommendation
In view of the anticipated capital needs of the community, and future interest rate increases
necessary for debt financing, staff recommends Village Board adoption of the Bond Parameters
Ordinance.
S.P.O. # 1.1
Maintain mindful fiscal policy that strikes a healthy balance between resources
and needs.
S.P.O. # 1.1.2 Commit to rigorous fiscal analysis to understand the short and long term
implications of fiscal policies and decisions.
EXTRACT OF MINUTES of the regular public meeting of the
President and Board of Trustees of the Village of Oswego, Kendall
County, Illinois, held at the Oswego Village Hall, 100 Parkers
Mill, Oswego, Illinois, in said Village, at 7:00 P.M., on the
21st day of October, 2014.
The President called the meeting to order and directed the Village Clerk to call the roll.
Upon the roll being called, Brian LeClercq, the President and the following Trustees
answered physically present at said location: __________________________________________
______________________________________________________________________________
The following Trustees were allowed by a majority of the President and Board of
Trustees in accordance with and to the extent allowed by rules adopted by the President and
Board of Trustees to attend the meeting by video or audio conference: _____________________
No Trustee was not permitted to attend the meeting by video or audio conference.
The following Trustees were absent and did not participate in the meeting in any manner
or to any extent whatsoever: _______________________________________________________
The President and Board of Trustees then discussed the proposed bond refunding for the
Village and considered an ordinance providing for the issuance of not to exceed $5,100,000
General Obligation Refunding Bonds, Series 2014, of the Village and providing for the levy and
collection of a direct annual tax sufficient for the payment of the principal of and interest on said
bonds.
Thereupon, the President presented and explained, and there was incorporated into the
record in full, the following ordinance:
2014 Bond Ordinance
2222453 • HDP • 10/15/14
AN ORDINANCE providing for the issuance of not to exceed
$5,100,000 General Obligation Refunding Bonds, Series 2014, of
the Village of Oswego, Kendall County, Illinois, for the purpose of
refunding certain outstanding bonds of said Village, and providing
for the levy and collection of a direct annual tax sufficient for the
payment of the principal of and interest on said bonds.
(the “Bond Ordinance”).
Trustee __________________ moved and Trustee __________________ seconded the
motion that the Bond Ordinance as presented be adopted.
A President and Board of Trustees discussion of the matter followed.
During the
discussion, the President gave a public recital of the nature of the matter, which included a
reading of the title of the ordinance and statements (1) that the ordinance provided for the
issuance of general obligation bonds for the purpose of paying the costs of refunding certain
outstanding general obligation bonds, (2) that the bonds are issuable without referendum
pursuant to the home rule powers of the Village, (3) that the ordinance provides for the levy of
taxes to pay the bonds, and (4) that the ordinance provides many details for the bonds, including
tax-exempt status covenants, provision for terms and form of the bonds, authorization of an
escrow agreement and appropriations.
The President directed that the roll be called for a vote upon the motion to adopt the
ordinance.
Upon the roll being called, the following Trustees voted AYE: _____________________
______________________________________________________________________________
and the following Trustees voted NAY: ______________________________________________
WHEREUPON, the President declared the motion carried and the ordinance adopted, and
henceforth did approve and sign the same in open meeting, and did direct the Village Clerk to
record the same in full in the records of the President and Board of Trustees of the Village of
Oswego, Kendall County, Illinois.
Other business was duly transacted at said meeting.
Upon motion duly made and carried, the meeting adjourned.
______________________________________
Village Clerk
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ORDINANCE NUMBER ______
Adopted by the President and
Board of Trustees on the
TABLE OF CONTENTS
SECTION
HEADING
PAGE
SECTION 1.
DEFINITIONS ......................................................................................................2
SECTION 2.
INCORPORATION OF PREAMBLES ......................................................................4
SECTION 3.
DETERMINATION TO ISSUE BONDS ...................................................................5
SECTION 4.
BOND DETAILS...................................................................................................5
SECTION 5.
GLOBAL BOOK-ENTRY SYSTEM ........................................................................6
SECTION 6.
EXECUTION; AUTHENTICATION ........................................................................8
SECTION 7.
TERM BONDS, MANDATORY REDEMPTION AND COVENANTS .........................9
SECTION 8.
OPTIONAL REDEMPTION....................................................................................9
SECTION 9.
TERM BONDS PURCHASE OR REDEMPTION.......................................................9
SECTION 10.
REDEMPTION PROCEDURE...............................................................................10
SECTION 11.
REGISTRATION AND EXCHANGE OR TRANSFER OF BONDS;
PERSONS TREATED AS OWNERS ................................................................12
SECTION 12.
FORM OF BOND ................................................................................................14
SECTION 13.
TAX LEVY ........................................................................................................20
SECTION 14.
FILING WITH COUNTY CLERK .........................................................................21
SECTION 15.
SALE OF BONDS; BOND NOTIFICATION ...........................................................22
SECTION 16.
CREATION OF FUNDS AND APPROPRIATIONS..................................................23
SECTION 17.
NON-ARBITRAGE AND TAX-EXEMPTION ........................................................24
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SECTION 18.
RIGHTS AND DUTIES OF BOND REGISTRAR AND PAYING AGENT ..................45
SECTION 19.
TAXES PREVIOUSLY LEVIED ...........................................................................46
SECTION 20.
DEFEASANCE....................................................................................................46
SECTION 21.
CONTINUING DISCLOSURE UNDERTAKING .....................................................46
SECTION 22.
CALL OF REFUNDED BONDS ............................................................................47
SECTION 23.
MUNICIPAL BOND INSURANCE ........................................................................47
SECTION 24.
SEVERABILITY .................................................................................................48
SECTION 26.
SUPERSEDER AND EFFECTIVE DATE ...............................................................49
This Table of Contents is for convenience only and is not a part of the Ordinance.
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ORDINANCE NUMBER ____
WHEREAS by virtue of its population and pursuant to the provisions of Section 6 of
Article VII of the Constitution of the State of Illinois, the Village of Oswego, Kendall County,
Illinois (the “Village”), is a home rule unit and may exercise any power or perform any function
pertaining to its government and affairs including, but not limited to, the power to tax and to
incur debt; and
WHEREAS pursuant to the provisions of said Section 6, the Village has the power to incur
debt payable from ad valorem property tax receipts or from any other lawful source and maturing
within 40 years from the time it is incurred without prior referendum approval; and
WHEREAS the Village has heretofore issued the following outstanding and validly
subsisting and unpaid general obligation bonds: General Obligation Bonds, Series 2006A, dated
May 15, 2006, General Obligation Bonds, Series 2006B, dated May 15, 2006, General Obligation
Bonds (Alternate Revenue Source), Series 2007A, dated December 15, 2007, and General
Obligation Bonds (Alternate Revenue Source), Series 2007B, dated December 15, 2007
(together, the “Prior Bonds”); and
WHEREAS the President and Board of Trustees of the Village (the “Village Board”) has
considered and determined that interest rates available in the bond market are currently more
favorable for the Village than they were at the time when the Prior Bonds were issued and that it
is possible, proper and advisable to provide for the timely refunding, if such favorable rates
continue, of the Prior Bonds (the bonds actually being refunded being the “Refunded Bonds”),
and to provide for the payment and redemption thereof on the earliest date of redemption, to the
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end of taking advantage of the debt service savings which may result from such lower interest
rates (which refunding may hereinafter be referred to as the “Refunding”); and
WHEREAS pursuant to the hereinafter defined Act, the Village is authorized to issue
general obligation bonds to accomplish the Refunding and it is deemed necessary and desirable
to provide for the issuance of not to exceed $5,100,000 principal amount general obligation
bonds for such purpose and for the purpose of realizing such net debt service savings from the
Refunding in accordance with the Act; and
WHEREAS the Refunded Bonds are more fully described in the Escrow Agreement
referred to in Section 16 hereof and are presently outstanding and unpaid and are binding and
subsisting legal obligations of the Village; and
WHEREAS the Village Board does hereby determine that it is advisable and in the best
interests of the Village to borrow not to exceed $5,100,000 at this time pursuant to the Act for
the purpose of paying the costs of the Refunding and, in evidence of such borrowing, issue its
full faith and credit bonds in one or more series in the principal amount of not to exceed
$5,100,000; and
WHEREAS in accordance with the terms of the Refunded Bonds, the Refunded Bonds may
be called for redemption in advance of their maturity, and it is necessary and desirable to make
such call for the redemption of the Refunded Bonds on their earliest possible call dates, and
provide for the giving of proper notice to the registered owners of the Refunded Bonds:
NOW THEREFORE Be It Ordained by the President and Board of Trustees of the Village of
Oswego, Kendall County, Illinois, in the exercise of its home rule powers, as follows:
Section 1.
Definitions.
Words and terms used in this Ordinance shall have the
meanings given them unless the context or use clearly indicates another or different meaning is
intended.
A.
The following words and terms are as defined in the preambles hereto.
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Prior Bonds
Refunded Bonds
Refunding
Village
Village Board
B.
The following words and terms are as defined as set forth.
“Act” means, collectively, the Illinois Municipal Code, as supplemented and amended,
the home rule powers of the Village under Section 6 of Article VII of the Constitution of the
State of Illinois; and, in the event of conflict between the provisions of said code and home rule
powers, the home rule powers shall be deemed to supersede the provisions of said code.
“Bond” or “Bonds” means one or more, as applicable, of the not to exceed $5,100,000
General Obligation Refunding Bonds, Series 2014, authorized to be issued by this Ordinance.
“Bond Fund” means the Bond Fund established and defined in Section 16 of this
Ordinance.
“Bond Moneys” means the Pledged Taxes and any other moneys deposited into the Bond
Fund and investment income earned in the Bond Fund.
“Bond Notification” means the Bond Notification as authorized to be executed by the
Designated Officials of the Village in Section 15 of this Ordinance and by which the final terms
of the Bonds will be established.
“Bond Register” means the books of the Village kept by the Bond Registrar to evidence
the registration and transfer of the Bonds.
“Bond Registrar” means The Bank of New York Mellon Trust Company, National
Association, Chicago, Illinois, as the bond registrar for the Bonds, or a successor thereto.
“Code” means the Internal Revenue Code of 1986, as amended.
“County Clerk” means the County Clerk of The County of Kendall, Illinois.
“Designated Officials” means the President and the Finance Director of the Village,
acting together.
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“Escrow Agent” means the escrow agent (which shall be a bank or trust company with a
corporate trust office located in the State of Illinois) as set forth in the Escrow Agreement and
Bond Notification, or a successor thereto.
“Ordinance” means this Ordinance, numbered as set forth on the title page hereof, and
passed by the Village Board on the 21st day of October, 2014.
“Paying Agent” means The Bank of New York Mellon Trust Company, National
Association, Chicago, Illinois, as the paying agent for the Bonds, or a successor thereto.
“Pledged Taxes” means the taxes levied on the taxable property within the Village to pay
principal of and interest on the Bonds as made in Section 13 hereof.
“President” means the President of the Village.
“Purchaser” means Robert W. Baird & Co. Incorporated, Naperville, Illinois.
“Record Date” means the 1st day of the month of any interest payment date.
“Tax-exempt” means, with respect to the Bonds, the status of interest paid and received
thereon as not includable in the gross income of the owners thereof under the Code for federal
income tax purposes except to the extent that such interest will be taken into account in
computing an adjustment used in determining the alternative minimum tax for certain
corporations.
“Term Bonds” means Bonds subject to mandatory redemption by operation of the Bond
Fund and designated as term bonds in the Bond Notification.
C.
Definitions also appear in the preambles hereto or in specific sections, as appear
below. The headings in this Ordinance are for the convenience of the reader and are not a part of
this Ordinance.
Section 2.
Incorporation of Preambles. The Village Board hereby finds that all of the
recitals contained in the preambles to this Ordinance are true, correct and complete and does
incorporate them into this Ordinance by this reference.
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Section 3.
Determination to Issue Bonds. It is necessary and in the best interests of the
Village to provide for the Refunding to achieve a net debt service savings and to pay all related
costs and expenses incidental thereto, and to borrow money and issue the Bonds for such
purposes. It is hereby found and determined that such borrowing of money is necessary for the
welfare of the government and affairs of the Village, is for a proper public purpose or purposes
and is in the public interest, and is authorized pursuant to the Act; and these findings and
determinations shall be deemed conclusive.
Section 4.
Bond Details. For the purpose of providing for such costs, there shall be
issued and sold the Bonds in the principal amount of not to exceed $5,100,000. The Bonds shall
each be designated “General Obligation Refunding Bond, Series 2014” or such other name or
names or series designation as may be appropriate and as stated in the Bond Notification. The
Bonds, if issued, shall be dated such date (not prior to October 21, 2014 and not later than April
21, 2015) as set forth in the Bond Notification (the “Dated Date”), and shall also bear the date of
authentication, shall be in fully registered form, shall be in denominations of $5,000 each or
authorized integral multiples thereof (but no single Bond shall represent installments of principal
maturing on more than one date), and shall be numbered 1 and upward. The Bonds shall become
due and payable serially or be subject to mandatory redemption as shall be set forth in the Bond
Notification (with option of prior redemption as hereinafter set forth) and in such principal
amounts as shall be set forth therein; provided, however, that the final maturity shall be due on or
before December 15, 2020, and each maturity or sinking fund payment shall not exceed
$1,250,000. Each Bond shall bear interest, at a rate not to exceed 6.00% per annum, from the
later of its Dated Date as herein provided or from the most recent interest payment date to which
interest has been paid or duly provided for, until the principal amount of such Bond is paid or
duly provided for, such interest (computed upon the basis of a 360-day year of twelve 30-day
-5-
months) being payable on June 15 and December 15 of each year, commencing with the first
interest payment date as set forth in the Bond Notification.
Interest on each Bond shall be paid by check or draft of the Paying Agent, payable upon
presentation thereof in lawful money of the United States of America, to the person in whose
name such Bond is registered at the close of business on the applicable Record Date, and mailed
to the registered owner of the Bond as shown in the Bond Register or at such other address
furnished in writing by such Registered Owner. The principal of or redemption price due on the
Bonds shall be payable in lawful money of the United States of America upon presentation
thereof at the principal corporate trust office of the Paying Agent.
Section 5.
Global Book-Entry System. If requested by the Purchaser, the Bonds shall
be initially issued in the form of a separate single fully registered Bond for each of the maturities
of the Bonds as provided in Section 4 hereof, and the ownership of each such Bond shall be
registered in the Bond Register in the name of Cede & Co., or any successor thereto (“Cede”), as
nominee of The Depository Trust Company, New York, New York, and its successors and
assigns (“DTC”). All of the outstanding Bonds shall be registered in the Bond Register in the
name of Cede, as nominee of DTC, except as hereinafter provided. The President, Village
Treasurer and Village Clerk are hereby authorized to execute and deliver on behalf of the Village
such letters to or agreements with DTC and the Bond Registrar as shall be necessary to effectuate
such book-entry system (any such letter or agreement being referred to herein as the
“Representation Letter”).
With respect to the Bonds registered in the Bond Register in the name of Cede, as
nominee of DTC, the Village and the Bond Registrar shall have no responsibility or obligation to
any broker-dealer, bank or other financial institution for which DTC holds Bonds from time to
time as securities depository (each such broker-dealer, bank or other financial institution being
referred to herein as a “DTC Participant”) or to any person on behalf of whom such a DTC
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Participant holds an interest in the Bonds. Without limiting the immediately preceding sentence,
the Village and the Bond Registrar shall have no responsibility or obligation with respect to
(i) the accuracy of the records of DTC, Cede or any DTC Participant with respect to any
ownership interest in the Bonds, (ii) the delivery to any DTC Participant or any other person,
other than a registered owner of a Bond as shown in the Bond Register, of any notice with respect
to the Bonds, including any notice of redemption, or (iii) the payment to any DTC Participant or
any other person, other than a registered owner of a Bond as shown in the Bond Register, of any
amount with respect to principal of or interest on the Bonds. The Village and the Bond Registrar
may treat and consider the person in whose name each Bond is registered in the Bond Register as
the holder and absolute owner of such Bond for the purpose of payment of principal and interest
with respect to such Bond, for the purpose of giving notices of redemption and other matters with
respect to such Bond, for the purpose of registering transfers with respect to such Bond, and for
all other purposes whatsoever. The Bond Registrar shall pay all principal of and interest on the
Bonds only to or upon the order of the respective registered owners of the Bonds, as shown in the
Bond Register, or their respective attorneys duly authorized in writing, and all such payments
shall be valid and effective to fully satisfy and discharge the Village’s obligations with respect to
payment of principal of and interest on the Bonds to the extent of the sum or sums so paid. No
person other than a registered owner of a Bond as shown in the Bond Register, shall receive a
Bond certificate evidencing the obligation of the Village to make payments of principal and
interest with respect to any Bond. Upon delivery by DTC to the Bond Registrar of written notice
to the effect that DTC has determined to substitute a new nominee in place of Cede, the name
“Cede” in this Ordinance shall refer to such new nominee of DTC.
In the event that (i) the Village determines that DTC is incapable of discharging its
responsibilities described herein and in the Representation Letter, (ii) the agreement among the
Village, the Bond Registrar and DTC evidenced by the Representation Letter shall be terminated
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for any reason or (iii) the Village determines that it is in the best interests of the beneficial
owners of the Bonds that they be able to obtain certificated Bonds, the Village shall notify DTC
and DTC Participants of the availability through DTC of Bond certificates and the Bonds shall no
longer be restricted to being registered in the Bond Register in the name of Cede, as nominee of
DTC. At the time, the Village may determine that the Bonds shall be registered in the name of
and deposited with such other depository operating a global book-entry system, as may be
acceptable to the Village, or such depository’s agent or designee, and if the Village does not
select such alternate global book-entry system, then the Bonds may be registered in whatever
name or names registered owners of Bonds transferring or exchanging Bonds shall designate, in
accordance with the provisions of Section 11 hereof.
Notwithstanding any other provision of this Ordinance to the contrary, so long as any
Bond is registered in the name of Cede, as nominee of DTC, all payments with respect to
principal of and interest on such Bond and all notices with respect to such Bond shall be made
and given, respectively, in the manner provided in the Representation Letter.
Section 6.
Execution; Authentication. The Bonds shall be executed on behalf of the
Village by the manual or duly authorized facsimile signature of its President and attested by the
manual or duly authorized facsimile signature of its Village Clerk, as they may determine, and
shall have impressed or imprinted thereon the corporate seal or facsimile thereof of the Village.
In case any such officer whose signature shall appear on any Bond shall cease to be such officer
before the delivery of such Bond, such signature shall nevertheless be valid and sufficient for all
purposes, the same as if such officer had remained in office until delivery. All Bonds shall have
thereon a certificate of authentication, substantially in the form hereinafter set forth, duly
executed by the Bond Registrar as authenticating agent of the Village and showing the date of
authentication. No Bond shall be valid or obligatory for any purpose or be entitled to any
security or benefit under this Ordinance unless and until such certificate of authentication shall
-8-
have been duly executed by the Bond Registrar by manual signature, and such certificate of
authentication upon any such Bond shall be conclusive evidence that such Bond has been
authenticated and delivered under this Ordinance. The certificate of authentication on any Bond
shall be deemed to have been executed by it if signed by an authorized officer of the Bond
Registrar, but it shall not be necessary that the same officer sign the certificate of authentication
on all of the Bonds issued hereunder.
Section 21.
Term Bonds, Mandatory Redemption and Covenants. The Bonds may be
subject to mandatory redemption (as Term Bonds) as provided in the Bond Notification. Bonds
designated as Term Bonds shall be made subject to mandatory redemption by operation of the
Bond Fund at a price of not to exceed par and accrued interest, without premium, on a given date
of the years and in the amounts as shall be determined in the Bond Notification. The Village
covenants that it will redeem any Term Bonds pursuant to the mandatory redemption requirement
for such Term Bonds and levy taxes accordingly.
Section 8.
Optional Redemption. All or a portion of the Bonds, if any, due on and after
the date, if any, specified in the Bond Notification shall be subject to redemption prior to
maturity at the option of the Village from any available funds, as a whole or in part, and if in part
in integral multiples of $5,000 in any order of their maturity as determined by the Village (less
than all of the Bonds of a single maturity to be selected by the Bond Registrar), on the date, if
any, specified in the Bond Notification (not later than 10-1/2 years from the date of the issuance
of the Bonds) and on any date thereafter, at the redemption price of par plus accrued interest to
the date fixed for redemption.
Section 9.
Term Bonds Purchase or Redemption. If the Village redeems pursuant to
optional redemption as hereinabove provided or purchases Term Bonds of any maturity and
cancels the same from Bond Moneys as hereinafter described, then an amount equal to the
principal amount of Term Bonds so redeemed or purchased shall be deducted from the
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mandatory redemption requirements provided for Term Bonds of such maturity, first, in the
current year of such requirement, until the requirement for the current year has been fully met,
and then in any order of such Term Bonds as due at maturity or subject to mandatory redemption
in any year, as the Village shall determine.
If the Village redeems pursuant to optional
redemption or purchases Term Bonds of any maturity and cancels the same from moneys other
than Bond Moneys, then an amount equal to the principal amount of Term Bonds so redeemed or
purchased shall be deducted from the amount of such Term Bonds as due at maturity or subject
to mandatory redemption requirement in any year, as the Village shall determine.
Section 10.
Redemption Procedure. For a mandatory redemption of Term Bonds, the
Bond Registrar shall proceed without further authorization or direction to provide for such
redemption. For optional redemptions, the Village shall, at least 45 days prior to the redemption
date (unless a shorter time period shall be satisfactory to the Bond Registrar), notify the Bond
Registrar of such redemption date and of the maturities and principal amounts of Bonds to be
redeemed. In the event of an optional redemption of less than all of a given maturity of Term
Bonds, the Village shall also notify the Bond Registrar of the allocation of the amount to be
redeemed to the mandatory redemption requirements for such Term Bonds. For purposes of any
redemption of less than all of the Bonds of a single maturity, the particular Bonds or portions of
Bonds to be redeemed shall be selected by lot not more than 60 days prior to the redemption date
by the Bond Registrar for the Bonds of such maturity by such method of lottery as the Bond
Registrar shall deem fair and appropriate; provided, however, that such lottery shall provide for
the selection for redemption of Bonds or portions thereof so that any $5,000 Bond or $5,000
portion of a Bond shall be as likely to be called for redemption as any other such $5,000 Bond or
$5,000 portion.
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The Bond Registrar shall promptly notify the Village and the Paying Agent in writing of
the Bonds or portions of Bonds selected for redemption and, in the case of any Bond selected for
partial redemption, the principal amount thereof to be redeemed.
Unless waived by any holder of Bonds to be redeemed, notice of the call for any such
redemption shall be given by the Bond Registrar on behalf of the Village by mailing the
redemption notice by first class mail at least thirty (30) days and not more than sixty (60) days
prior to the date fixed for redemption to the registered owner of the Bond or Bonds to be
redeemed at the address shown on the Bond Register or at such other address as is furnished in
writing by such registered owner to the Bond Registrar.
All notices of redemption shall state:
(1)
the redemption date,
(2)
the redemption price,
(3) if less than all outstanding Bonds are to be redeemed, the identification (and,
in the case of partial redemption, the respective principal amounts) of the Bonds to be
redeemed,
(4) that on the redemption date the redemption price will become due and
payable upon each such Bond or portion thereof called for redemption, and that interest
thereon shall cease to accrue from and after said date,
(5) the place where such Bonds are to be surrendered for payment of the
redemption price, which place of payment shall be the principal corporate trust office of
the Bond Registrar, and
(6)
standard.
such other information then required by custom, practice or industry
Unless moneys sufficient to pay the redemption price of the Bonds to be redeemed shall
have been received by the Bond Registrar prior to the giving of such notice of redemption, such
notice may, at the option of the Village, state that said redemption shall be conditional upon the
receipt of such moneys by the Bond Registrar on or prior to the date fixed for redemption. If such
moneys are not received, such notice shall be of no force and effect, the Village shall not redeem
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such Bonds, and the Bond Registrar shall give notice, in the same manner in which the notice of
redemption shall have been given, that such moneys were not so received and that such Bonds
will not be redeemed. Otherwise, prior to any redemption date, the Village shall deposit with the
Bond Registrar an amount of money sufficient to pay the redemption price of all the Bonds or
portions of Bonds which are to be redeemed on that date.
Subject to the provisions for a conditional redemption described above, notice of
redemption having been given as aforesaid, the Bonds or portions of Bonds so to be redeemed
shall, on the redemption date, become due and payable at the redemption price therein specified,
and from and after such date (unless the Village shall default in the payment of the redemption
price) such Bonds or portions of Bonds shall cease to bear interest. Upon surrender of such
Bonds for redemption in accordance with said notice, such Bonds shall be paid by the Bond
Registrar at the redemption price. Installments of interest due on or prior to the redemption date
shall be payable as herein provided for payment of interest. Upon surrender for any partial
redemption of any Bond, there shall be prepared for the registered holder a new Bond or Bonds
of the same maturity in the amount of the unpaid principal.
If any Bond or portion of Bond called for redemption shall not be so paid upon surrender
thereof for redemption, the principal shall, until paid, bear interest from the redemption date at
the rate borne by the Bond or portion of Bond so called for redemption. All Bonds which have
been redeemed shall be cancelled and destroyed by the Bond Registrar and shall not be reissued.
As part of their respective duties hereunder, the Bond Registrar and Paying Agent shall
prepare and forward to the Village a statement as to notice given with respect to each redemption
together with copies of the notices as mailed and published.
Section 11.
Registration and Exchange or Transfer of Bonds; Persons Treated as
Owners. The Village shall cause books (the “Bond Register”) for the registration and for the
transfer of the Bonds as provided in this Ordinance to be kept at the principal corporate trust
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office of the Bond Registrar, which is hereby constituted and appointed the registrar of the
Village for the Bonds. The Village is authorized to prepare, and the Bond Registrar or such other
agent as the Village may designate shall keep custody of, multiple Bond blanks executed by the
Village for use in the transfer and exchange of Bonds.
Any Bond may be transferred or exchanged, but only in the manner, subject to the
limitations, and upon payment of the charges as set forth in this Ordinance. Upon surrender for
transfer or exchange of any Bond at the principal corporate trust office of the Bond Registrar,
duly endorsed by or accompanied by a written instrument or instruments of transfer or exchange
in form satisfactory to the Bond Registrar and duly executed by the registered owner or an
attorney for such owner duly authorized in writing, the Village shall execute and the Bond
Registrar shall authenticate, date and deliver in the name of the transferee or transferees or, in the
case of an exchange, the registered owner, a new fully registered Bond or Bonds of like tenor, of
the same maturity, bearing the same interest rate, of authorized denominations, for a like
aggregate principal amount.
The Bond Registrar shall not be required to transfer or exchange any Bond during the
period from the close of business on the Record Date for an interest payment to the opening of
business on such interest payment date or during the period of 15 days preceding the giving of
notice of redemption of Bonds or to transfer or exchange any Bond all or a portion of which has
been called for redemption.
The execution by the Village of any fully registered Bond shall constitute full and due
authorization of such Bond, and the Bond Registrar shall thereby be authorized to authenticate,
date and deliver such Bond; provided, however, that the principal amount of Bonds of each
maturity authenticated by the Bond Registrar shall not at any one time exceed the authorized
principal amount of Bonds for such maturity less the amount of such Bonds which have been
paid.
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The person in whose name any Bond shall be registered shall be deemed and regarded as
the absolute owner thereof for all purposes, and payment of the principal of or interest on any
Bond shall be made only to or upon the order of the registered owner thereof or his legal
representative. All such payments shall be valid and effectual to satisfy and discharge the
liability upon such Bond to the extent of the sum or sums so paid.
No service charge shall be made for any transfer or exchange of Bonds, but the Village or
the Bond Registrar may require payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection with any transfer or exchange of Bonds,
except in the case of the issuance of a Bond or Bonds for the unredeemed portion of a Bond
surrendered for redemption.
Section 12.
Form of Bond. The Bonds shall be in substantially the form hereinafter set
forth; provided, however, that if the text of the Bonds is to be printed in its entirety on the front
side of the Bonds, then the second paragraph on the front side and the legend “See Reverse Side
for Additional Provisions” shall be omitted and the text of paragraphs set forth for the reverse
side shall be inserted immediately after the first paragraph.
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[Form of Bond - Front Side]
REGISTERED
NO. _____
REGISTERED
$_________
UNITED STATES OF AMERICA
STATE OF ILLINOIS
THE COUNTY OF KENDALL
VILLAGE OF OSWEGO
GENERAL OBLIGATION REFUNDING BOND, SERIES 20__
See Reverse Side for
Additional Provisions.
Interest
Rate: ___%
Maturity
Date: December 15, 20__
Registered Owner:
Dated
Date: __________, 20__
CUSIP: __________
CEDE & CO.
Principal Amount:
DOLLARS
KNOW ALL PERSONS BY THESE PRESENTS that the Village of Oswego, Kendall County,
Illinois, a municipality, home rule unit, and political subdivision of the State of Illinois (the
“Village”), hereby acknowledges itself to owe and for value received promises to pay to the
Registered Owner identified above, or registered assigns as hereinafter provided, on the Maturity
Date identified above (subject to right of prior redemption as hereinafter stated), the Principal
Amount identified above and to pay interest (computed on the basis of a 360-day year of twelve
30-day months) on such Principal Amount from the later of the Dated Date of this Bond
identified above or from the most recent interest payment date to which interest has been paid or
duly provided for, at the Interest Rate per annum identified above, such interest to be payable on
June 15 and December 15 of each year, commencing ________ 15, 20___, until said Principal
Amount is paid or duly provided for. The principal of this Bond is payable in lawful money of
the United States of America upon presentation hereof at the principal corporate trust office of
The Bank of New York Mellon Trust Company, National Association, Chicago, Illinois, as
paying agent (the “Paying Agent”). Payment of interest shall be made to the Registered Owner
hereof as shown on the registration books of the Village maintained by The Bank of New York
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Mellon Trust Company, National Association, Chicago, Illinois, as bond registrar (the “Bond
Registrar”), at the close of business on the applicable Record Date (the “Record Date”). The
Record Date shall be the 1st day of the month of any regular or other interest payment date
occurring on the 15th day of any month and 15 days preceding any interest payment date
occasioned by the redemption of Bonds on other than the 15th day of a month. Interest shall be
paid by check or draft of the Paying Agent, payable upon presentation in lawful money of the
United States of America, mailed to the address of such Registered Owner as it appears on such
registration books or at such other address furnished in writing by such Registered Owner to the
Bond Registrar, or as otherwise agreed by the Village and Cede & Co., as nominee, or successor,
for so long as this Bond is held by The Depository Trust Company, New York, New York, the
depository, or nominee, in book-entry only form as provided for same.
Reference is hereby made to the further provisions of this Bond set forth on the reverse
hereof, and such further provisions shall for all purposes have the same effect as if set forth at
this place.
It is hereby certified and recited that all conditions, acts and things required by the
Constitution and Laws of the State of Illinois to exist or to be done precedent to and in the
issuance of this Bond have existed and have been properly done, happened and been performed
in regular and due form and time as required by law; that the indebtedness of the Village,
represented by the Bonds, and including all other indebtedness of the Village, howsoever
evidenced or incurred, does not exceed any constitutional or statutory or other lawful limitation;
and that provision has been made for the collection of a direct annual tax, in addition to all other
taxes, on all of the taxable property in the Village sufficient to pay the interest hereon as the same
falls due and also to pay and discharge the principal hereof at maturity.
This Bond shall not be valid or become obligatory for any purpose until the certificate of
authentication hereon shall have been signed by the Bond Registrar.
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IN WITNESS WHEREOF the Village of Oswego, Kendall County, Illinois, by its President
and Board of Trustees, has caused this Bond to be executed by the manual or duly authorized
facsimile signature of its President and attested by the manual or duly authorized facsimile
signature of its Village Clerk and its corporate seal or a facsimile thereof to be impressed or
reproduced hereon, all as appearing hereon and as of the Dated Date identified above.
____________________________________
President, Village of Oswego
Kendall County, Illinois
ATTEST:
______________________________________
Village Clerk, Village of Oswego
[SEAL]
Date of Authentication: ____________, 20__
Bond Registrar and Paying Agent:
The Bank of New York Mellon Trust
Company, National Association
Chicago, Illinois
CERTIFICATE
OF
AUTHENTICATION
This Bond is one of the Bonds described in
the within-mentioned Ordinance and is one of
the General Obligation Refunding Bonds,
Series 20__, having a Dated Date of ________,
20__, of the Village of Oswego, Kendall
County, Illinois.
THE BANK OF NEW YORK MELLON TRUST COMPANY,
NATIONAL ASSOCIATION
as Bond Registrar
By___________________________________
Authorized Officer
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[FORM OF BOND - REVERSE SIDE]
This bond is one of a series of bonds (the “Bonds”) in the aggregate principal amount of
$__________ issued by the Village for the purpose of paying the costs of refunding certain
outstanding bonds of the Village, and of paying expenses incidental thereto, all as described and
defined in the ordinance authorizing the Bonds (the “Ordinance”), pursuant to and in all respects
in compliance with the applicable provisions of the Illinois Municipal Code, as supplemented
and amended, and as further supplemented and, where necessary, superseded, by the powers of
the Village as a home rule unit under the provisions of Section 6 of Article VII of the
Constitution of the State of Illinois (such code and powers being the “Act”), and with the
Ordinance, which has been duly passed by the President and Board of Trustees of the Village,
approved by the President, in all respects as by law required.
Subject to the provisions relating to this Bond remaining in book-entry only form, this
Bond may be transferred or exchanged, but only in the manner, subject to the limitations, and
upon payment of the charges as set forth in the Ordinance. Upon surrender for transfer or
exchange of this Bond at the principal corporate trust office of the Bond Registrar in Chicago,
Illinois, duly endorsed by or accompanied by a written instrument or instruments of transfer or
exchange in form satisfactory to the Bond Registrar and duly executed by the Registered Owner
or an attorney for such owner duly authorized in writing, the Village shall execute and the Bond
Registrar shall authenticate, date and deliver in the name of the transferee or transferees or, in the
case of an exchange, the Registered Owner, a new fully registered Bond or Bonds of like tenor,
of the same maturity, bearing the same interest rate, of authorized denominations, for a like
aggregate principal amount.
The Bond Registrar shall not be required to transfer or exchange any Bond during the
period from the close of business on the Record Date for an interest payment to the opening of
business on such interest payment date or during the period of 15 days preceding the giving of
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notice of redemption of Bonds or to transfer or exchange any Bond all or a portion of which has
been called for redemption.
The Bonds may be subject to [mandatory and] optional redemption, and the holder of this
Bond shall refer to the provisions of the Ordinance for the terms and provision for notice of
redemption.
The Village, the Bond Registrar and the Paying Agent may deem and treat the Registered
Owner hereof as the absolute owner hereof for the purpose of receiving payment of or on account
of principal hereof and interest due hereon and for all other purposes, and the Village, the Bond
Registrar and the Paying Agent shall not be affected by any notice to the contrary.
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned sells, assigns and transfers unto ______________
______________________________________________________________________________
______________________________________________________________________________
(Name and Address of Assignee)
the within Bond and does hereby irrevocably constitute and appoint________________________
______________________________________________________________________________
as attorney to transfer the said Bond on the books kept for registration thereof with full power of
substitution in the premises.
Dated: _____________________________
_____________________________
Signature guaranteed: _____________________________
NOTICE:
The signature to this transfer and assignment must correspond with the name of the
Registered Owner as it appears upon the face of the within Bond in every particular,
without alteration or enlargement or any change whatever.
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Section 13.
Tax Levy. For the purpose of providing funds required to pay the interest on
the Bonds promptly when and as the same falls due, and to pay and discharge the principal
thereof at maturity, there is hereby levied upon all of the taxable property within the Village, in
the years 2014 through 2019, a direct annual tax sufficient for that purpose in a yearly amount
not to exceed $1,295,000 (the “Pledged Taxes”). Such levy shall be fully set forth in the Bond
Notification for the Bonds.
The Pledged Taxes and other moneys (excepting proceeds of the Bonds) on deposit
(collectively, the “Bond Moneys”) in the Bond Fund shall be applied to pay principal of and
interest on the Bonds as follows:
A.
Bond Moneys shall be applied to the payment of interest when due and
principal or redemption price when due at maturity or as redeemed pursuant to mandatory
redemption from the Bond Fund, or
B.
On or before October 1 in each calendar year preceding a December 15
mandatory redemption date in the successive calendar year, Bond Moneys up to the
amount of the redemption requirement on such mandatory redemption date plus interest
due on Term Bonds on such date may be applied (1) to the purchase of Term Bonds of the
maturity for which such mandatory redemption requirement was established at prices
(including commissions and charges, if any) not exceeding par and accrued interest to
such December 15 or (2) to the redemption of such Bonds, without premium, pursuant to
optional redemption provisions applicable thereto. Upon the purchase or redemption of
Term Bonds of any maturity pursuant to this paragraph (B), an amount equal to the
principal amount of such Bonds or applicable portion thereof so purchased or redeemed
shall be deducted from the next mandatory redemption requirement thereafter to become
due on such Bonds and any excess over the amount of such requirement shall be deducted
from the future requirement for such Bonds as the Village shall determine.
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Interest or principal coming due at any time when there are insufficient funds on hand
from the Pledged Taxes to pay the same shall be paid promptly when due from current funds on
hand in advance of the collection of the Pledged Taxes herein levied; and when the Pledged
Taxes shall have been collected, reimbursement shall be made to said funds in the amount so
advanced. The Village covenants and agrees with the purchasers and registered owners of the
Bonds that so long as any of the Bonds remain outstanding, the Village will take no action or fail
to take any action which in any way would adversely affect the ability of the Village to levy and
collect the foregoing tax levy. The Village and its officers will comply with all present and
future applicable laws in order to assure that the Pledged Taxes may be levied, extended and
collected as provided herein and deposited into the Bond Fund.
Whenever other funds from any lawful source are made available for the purpose of
paying any principal of or interest on the Bonds so as to enable the abatement of the taxes levied
herein for the payment of same, the Village Board shall, by proper proceedings, direct the deposit
of such funds into the Bond Fund and further shall direct the abatement of the taxes by the
amount so deposited. A certified copy or other notification of any such proceedings abating
taxes may then be filed with the County Clerk in a timely manner to effect such abatement.
Section 14.
Filing with County Clerk. Promptly, as soon as this Ordinance becomes
effective, a copy hereof, certified by the Village Clerk of the Village, shall be filed with the
County Clerk; and the County Clerk shall in and for each of the years required ascertain the rate
percent required to produce the aggregate tax herein provided to be levied as set forth in a Bond
Notification for each of the years; and the County Clerk shall (to the extent said tax has not been
abated as provided herein) extend the same for collection on the tax books in connection with
other taxes levied in said years in and by the Village for general corporate purposes of the
Village; and in said years such annual tax shall be levied and collected by and for and on behalf
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of the Village in like manner as taxes for general corporate purposes for said years are levied and
collected, and in addition to and in excess of all other taxes.
Section 15.
Sale of Bonds; Bond Notification. The Designated Officials are hereby
authorized to proceed not later than the 21st day of April, 2015, without any further authorization
or direction whatsoever from the Village Board, to sell the Bonds upon the terms as prescribed in
this Ordinance and to deliver them promptly thereafter. In the Bond Notification, the Designated
Representatives shall find and determine that the net present value savings to the Village as a
result of the issuance of the Bonds and the Refunding of the Refunded Bonds is not less than
3.00% of the principal amount of the Refunded Bonds. The Bonds shall be sold and delivered to
the Purchaser at the price of not less than 98% of the par value of the principal amount thereof,
plus accrued interest, if any, to the date of delivery. The Designated Officials may choose all or
any lesser portion of the Prior Bonds to be refunded. Nothing in this Section shall require the
Designated Officials to sell any of the Bonds if in their judgment, the conditions in the bond
markets shall have deteriorated from the time of adoption thereof or the sale of all or any portion
of the Bonds shall for some other reason not be deemed advisable, but the Designated Officials
shall have the authority to sell the Bonds in any event so long as the limitations set forth in this
Ordinance and the conditions of this Section shall have been met.
Upon the sale of the Bonds or any series of the Bonds, the Designated Officials and any
other officers of the Village as shall be appropriate, shall be and are hereby authorized and
directed to approve or execute, or both, such documents of sale of the Bonds as may be
necessary, including, without limitation, the contract for the sale of the Bonds between the
Village and the Purchaser (the “Bond Purchase Contract”), the Bond Notification, Preliminary
Official Statement, Official Statement and closing documents. The Designated Officials must
find and determine in the Bond Notification that no person holding any office of the Village
either by election or appointment, is in any manner financially interested either directly, in his or
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her own name, or indirectly in the name of any other person, association, trust or corporation in
said Bond Purchase Contract with the Purchaser for the purchase of the Bonds. The distribution
of the Preliminary Official Statement relating to the Bonds is hereby in all respects authorized
and approved, and the proposed use by the Purchaser of an Official Statement (in substantially
the form of the Preliminary Official Statement but with appropriate variations to reflect the final
terms of the Bonds) is hereby approved.
Upon the sale of the Bonds, the Designated Officials shall prepare the Bond Notification,
which shall include the pertinent details of sale as provided herein, and such shall be entered into
the records of the Village and made available at the next public meeting of the Village Board.
The Designated Officials shall also file with the County Clerk the Bond Notification or like
document including a statement of taxes.
The officers of the Village are hereby authorized to take any action as may be required on
the part of the Village to consummate the transactions contemplated by the Bond Purchase
Contract, this Ordinance, said Preliminary Official Statement, said final Official Statement and
the Bonds.
Section 16.
A.
Creation of Funds and Appropriations.
There is hereby created the “General Obligation Refunding Bonds, Series 20__,
Bond Fund” (the “Bond Fund”), which shall be the fund for the payment of principal of and
interest on the Bonds. Accrued interest and premium, if any, received upon delivery of the
Bonds shall be deposited into the Bond Fund and be applied to pay first interest coming due on
the Bonds.
B.
The Pledged Taxes shall either be deposited into the Bond Fund and used solely and
only for paying the principal of and interest on the Bonds or be used to reimburse a fund or
account from which advances to the Bond Fund may have been made to pay principal of or
interest on the Bonds prior to receipt of Pledged Taxes. Interest income or investment profit
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earned in the Bond Fund shall be retained in the Bond Fund for payment of the principal of or
interest on the Bonds on the interest payment date next after such interest or profit is received or,
to the extent lawful and as determined by the Village Board, transferred to such other fund as
may be determined. The Village hereby pledges, as equal and ratable security for the Bonds, all
present and future proceeds of the Pledged Taxes for the sole benefit of the registered owners of
the Bonds, subject to the reserved right of the Village Board to transfer certain interest income or
investment profit earned in the Bond Fund to other funds of the Village, as described in the
preceding sentence.
C.
The sum of principal proceeds of the Bonds as is necessary, together with such
money in the debt service funds for the Refunded Bonds as may be advisable for the purpose,
shall be used to provide for the Refunding, and the payment of such expenses as may be
designated, pursuant to the provisions of an Escrow Agreement with the Escrow Agent as is
designated, all in accordance with the provisions of an Escrow Agreement, substantially in the
form attached hereto as Exhibit A to this Ordinance, made a part hereof by this reference, and
hereby approved; the officers appearing signatory to such Escrow Agreement are hereby
authorized and directed to execute same, their execution to constitute conclusive proof of action
in accordance with this Ordinance, and approval of all completions or revisions necessary or
appropriate to effect the Refunding. The Village expressly authorizes the use of the Government
Securities as deposited in the Escrow Account as set forth in the Escrow Agreement. At the time
of the issuance of the Bonds, the costs of issuance of the Bonds may be paid by the Purchaser on
behalf of the Village from the proceeds of the Bonds.
Section 17.
Non-Arbitrage and Tax-Exemption. One purpose of this Section is to set
forth various facts regarding the Bonds and to establish the expectations of the Village Board and
the Village as to future events regarding the Bonds and the use of Bond proceeds.
The
certifications, covenants and representations contained herein and at the time of the Closing are
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made on behalf of the Village for the benefit of the owners from time to time of the Bonds. In
addition to providing the certifications, covenants and representations contained herein, the
Village hereby covenants that it will not take any action, omit to take any action or permit the
taking or omission of any action within its control (including, without limitation, making or
permitting any use of the proceeds of the Bonds) if taking, permitting or omitting to take such
action would cause any of the Bonds to be an arbitrage bond or a private activity bond within the
meaning of the hereinafter defined Code or would otherwise cause the interest on the Bonds to be
included in the gross income of the recipients thereof for federal income tax purposes. The
Village acknowledges that, in the event of an examination by the Internal Revenue Service (the
“IRS”) of the exemption from federal income taxation for interest paid on the Bonds, under
present rules, the Village may be treated as a “taxpayer” in such examination and agrees that it
will respond in a commercially reasonable manner to any inquiries from the IRS in connection
with such an examination. The Village Board and the Village certify, covenant and represent as
follows:
1.1. Definitions. In addition to such other words and terms used and defined in
this Ordinance, the following words and terms used in this Section shall have the
following meanings unless, in either case, the context or use clearly indicates another or
different meaning is intended:
“Affiliated Person” means any Person that (a) at any time during the six months
prior to the execution and delivery of the Bonds, (i) has more than five percent of the
voting power of the governing body of the Village in the aggregate vested in its directors,
officers, owners, and employees or, (ii) has more than five percent of the voting power of
its governing body in the aggregate vested in directors, officers, board members or
employees of the Village or (b) during the one-year period beginning six months prior to
the execution and delivery of the Bonds, (i) the composition of the governing body of
which is modified or established to reflect (directly or indirectly) representation of the
interests of the Village (or there is an agreement, understanding, or arrangement relating
to such a modification or establishment during that one-year period) or (ii) the
composition of the governing body of the Village is modified or established to reflect
(directly or indirectly) representation of the interests of such Person (or there is an
agreement, understanding, or arrangement relating to such a modification or
establishment during that one-year period).
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“Bond Counsel” means Chapman and Cutler LLP or any other nationally
recognized firm of attorneys experienced in the field of municipal bonds whose opinions
are generally accepted by purchasers of municipal bonds.
“Capital Expenditures” means costs of a type that would be properly chargeable
to a capital account under the Code (or would be so chargeable with a proper election)
under federal income tax principles if the Village were treated as a corporation subject to
federal income taxation, taking into account the definition of Placed-in-Service set forth
herein.
“Closing” means the first date on which the Village is receiving the purchase
price for the Bonds.
“Code” means the Internal Revenue Code of 1986, as amended.
“Commingled Fund” means any fund or account containing both Gross Proceeds
and an amount in excess of $25,000 that are not Gross Proceeds if the amounts in the
fund or account are invested and accounted for, collectively, without regard to the source
of funds deposited in the fund or account. An open-ended regulated investment company
under Section 851 of the Code is not a Commingled Fund.
“Control” means the possession, directly or indirectly through others, of either of
the following discretionary and non-ministerial rights or powers over another entity:
(a) to approve and to remove without cause a controlling portion of the
governing body of a Controlled Entity; or
(b)
purpose.
to require the use of funds or assets of a Controlled Entity for any
“Controlled Entity” means any entity or one of a group of entities that is subject
to Control by a Controlling Entity or group of Controlling Entities.
“Controlled Group” means a group of entities directly or indirectly subject to
Control by the same entity or group of entities, including the entity that has Control of the
other entities.
“Controlling Entity” means any entity or one of a group of entities directly or
indirectly having Control of any entities or group of entities.
“Costs of Issuance” means the costs of issuing the Bonds, including underwriters’
discount and legal fees, but not including the fees for the Credit Facility described in
paragraph 5.8 hereof, if any.
“Credit Facility” means the municipal bond insurance policy issued by the Credit
Facility Provider, if any.
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“Credit Facility Provider” means the provider of the municipal bond insurance
policy, if any, as set forth in the Bond Notification.
“De minimis Amount of Original Issue Discount or Premium” means with respect
to an obligation (a) any original issue discount or premium that does not exceed two
percent of the stated redemption price at maturity of the Bonds plus (b) any original issue
premium that is attributable exclusively to reasonable underwriter’s compensation.
“Escrow Account” means the account established pursuant to the Escrow
Agreement.
“Escrow Agent” means the escrow agent under the Escrow Agreement as set forth
in the Bond Notification.
“Escrow Agreement” means the agreement between the Escrow Agent and the
Village providing for the deposit in trust of certain Government Securities for the purpose
of refunding in advance of maturity the Refunded Bonds.
“External Commingled Fund” means a Commingled Fund in which the Village
and all members of the same Controlled Group as the Village own, in the aggregate, not
more than ten percent of the beneficial interests.
“GIC” means (a) any investment that has specifically negotiated withdrawal or
reinvestment provisions and a specifically negotiated interest rate and (b) any agreement
to supply investments on two or more future dates (e.g., a forward supply contract).
“Government Securities” means the obligations held and to be held under the
Escrow Agreement.
“Gross Proceeds” means amounts in the Bond Fund and the Escrow Account.
“Net Sale Proceeds” means amounts actually or constructively received from the
sale of the Bonds reduced by any such amounts that are deposited in a reasonably
required reserve or replacement fund for the Bonds.
“Person” means any entity with standing to be sued or to sue, including any
natural person, corporation, body politic, governmental unit, agency, authority,
partnership, trust, estate, association, company, or group of any of the above.
“Placed-in-Service” means the date on which, based on all facts and
circumstances (a) a facility has reached a degree of completion that would permit its
operation at substantially its design level and (b) the facility is, in fact, in operation at
such level.
“Prior Bond Fund” means the fund or funds established in connection with the
issuance of the Prior Bonds to pay the debt service on the Prior Bonds.
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“Prior Bond Proceeds” means amounts actually or constructively received from
the sale of the Refunded Bonds, including (a) amounts used to pay underwriters’ discount
or compensation and accrued interest, other than accrued interest for a period not greater
than one year before the Refunded Bonds were issued but only if it is to be paid within
one year after the Refunded Bonds were issued and (b) amounts derived from the sale of
any right that is part of the terms of a Refunded Bond or is otherwise associated with a
Refunded Bond (e.g., a redemption right).
“Prior Bonds” means the Village’s outstanding issues being refunded by the
Bonds, as more particularly described in the preambles hereof.
“Prior Project” means the facilities financed, directly or indirectly with the
proceeds of the Prior Bonds.
“Private Business Use” means any use of the Prior Project by any Person other
than a state or local government unit, including as a result of (i) ownership, (ii) actual or
beneficial use pursuant to a lease or a management, service, incentive payment, research
or output contract or (iii) any other similar arrangement, agreement or understanding,
whether written or oral, except for use of the Prior Project on the same basis as the
general public. Private Business Use includes any formal or informal arrangement with
any person other than a state or local governmental unit that conveys special legal
entitlements to any portion of the Prior Project that is available for use by the general
public or that conveys to any person other than a state or local governmental unit any
special economic benefit with respect to any portion of the Prior Project that is not
available for use by the general public.
“Qualified Administrative Costs of Investments” means (a) reasonable, direct
administrative costs (other than carrying costs) such as separately stated brokerage or
selling commissions but not legal and accounting fees, recordkeeping, custody and
similar costs; or (b) all reasonable administrative costs, direct or indirect, incurred by a
publicly offered regulated investment company or an External Commingled Fund.
“Qualified Tax Exempt Obligations” means (a) any obligation described in
Section 103(a) of the Code, the interest on which is excludable from gross income of the
owner thereof for federal income tax purposes and is not an item of tax preference for
purposes of the alternative minimum tax imposed by Section 55 of the Code; (b) an
interest in a regulated investment company to the extent that at least ninety-five percent of
the income to the holder of the interest is interest which is excludable from gross income
under Section 103 of the Code of any owner thereof for federal income tax purposes and
is not an item of tax preference for purposes of the alternative minimum tax imposed by
Section 55 of the Code; and (c) certificates of indebtedness issued by the United States
Treasury pursuant to the Demand Deposit State and Local Government Series program
described in 31 C.F.R. pt. 344.
“Rebate Fund” means the fund, if any, identified and defined in paragraph 4.1
herein.
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“Rebate Provisions” means the rebate requirements contained in Section 148(f)
of the Code and in the Regulations.
“Refunded Bonds” means those certain Prior Bonds being refunded by the Bonds.
“Regulations” means United States Treasury Regulations dealing with the
tax-exempt bond provisions of the Code.
“Reimbursed Expenditures” means expenditures of the Village paid prior to
Closing to which Sale Proceeds or investment earnings thereon are or will be allocated.
“Sale Proceeds” means amounts actually or constructively received from the sale
of the Bonds, including (a) amounts used to pay underwriters’ discount or compensation
and accrued interest, other than accrued interest for a period not greater than one year
before Closing but only if it is to be paid within one year after Closing and (b) amounts
derived from the sale of any right that is part of the terms of a Bond or is otherwise
associated with a Bond (e.g., a redemption right).
“Transferred Proceeds” means amounts actually or constructively received from
the sale of the Prior Bonds, plus investment earnings thereon, which have not been spent
prior to the date principal on the Refunded Bonds is discharged by the Bonds.
“Verification Report” means the verification report and opinion of the Verifier
concerning the Yield on the Bonds and the Government Securities.
“Verifier” means the verification agent set forth in the Bond Notification.
“Yield” means that discount rate which when used in computing the present value
of all payments of principal and interest paid and to be paid on an obligation (using
semiannual compounding on the basis of a 360-day year) produces an amount equal to the
obligation’s purchase price (or in the case of the Bonds, the issue price as established in
paragraph 5.1 hereof), including accrued interest.
“Yield Reduction Payment” means a rebate payment or any other amount paid to
the United States in the same manner as rebate amounts are required to be paid or at such
other time or in such manner as the Internal Revenue Service may prescribe that will be
treated as a reduction in Yield of an investment under the Regulations.
2.1. Purpose of the Bonds. The Bonds are being issued solely and exclusively
to refund in advance of maturity the Refunded Bonds in a prudent manner consistent with
the revenue needs of the Village. A breakdown of the sources and uses of funds is set
forth in the preceding Section of this Ordinance. Except to pay the Refunded Bonds and
except for any accrued interest on the Bonds used to pay first interest due on the Bonds,
no proceeds of the Bonds will be used more than 30 days after the date of issue of the
Bonds for the purpose of paying any principal or interest on any issue of bonds, notes,
certificates or warrants or on any installment contract or other obligation of the Village or
for the purpose of replacing any funds of the Village used for such purpose.
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2.2. Bond Fund Investment. The investment earnings on the Bond Fund will be
spent to pay interest on the Bonds, or to the extent permitted by law, investment earnings
on amounts in the Bond Fund will be commingled with substantial revenues from the
governmental operations of the Village, and the earnings are reasonably expected to be
spent for governmental purposes within six months of the date earned. Interest earnings
on the Bond Fund have not been earmarked or restricted by the Village Board for a
designated purpose.
2.3. Reimbursement. None of the Sale Proceeds or investment earnings thereon
will be used for Reimbursed Expenditures.
2.4. Working Capital. All Sale Proceeds and investment earnings thereon will
be used, directly or indirectly, to pay principal of, interest on and redemption premium (if
any) on the Refunded Bonds, other than the following:
(a) payments of interest on the Bonds for the period commencing at
Closing and ending on the date one year after the date on which the Prior Project
is Placed-in-Service;
(b)
Costs of Issuance and Qualified Administrative Costs of Investments;
(c) payments of rebate or Yield Reduction Payments made to the United
States under the Regulations;
(d) principal of or interest on the Bonds paid from unexpected excess
Sale Proceeds and investment earnings thereon;
(e)
fees for the Credit Facility, if any; and
(f) investment earnings that are commingled with substantial other
revenues and are expected to be allocated to expenditures within six months.
2.5. Consequences of Contrary Expenditure. The Village acknowledges that if
Sale Proceeds and investment earnings thereon are spent other than as permitted by
paragraph 2.4 hereof, a like amount of then available funds of the Village will be treated
as unspent Sale Proceeds.
2.6. Investment of Bond Proceeds. No portion of the Bonds is being issued
solely for the purpose of investing a portion of Sale Proceeds or investment earnings
thereon at a Yield higher than the Yield on the Bonds.
2.7. No Grants. None of the Sale Proceeds or investment earnings thereon will
be used to make grants to any person.
2.8. Hedges. Neither the Village nor any member of the same Controlled Group
as the Village has entered into or expects to enter into any hedge (e.g., an interest rate
swap, interest rate cap, futures contract, forward contract or an option) with respect to the
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Bonds or the Prior Bonds. The Village acknowledges that any such hedge could affect,
among other things, the calculation of Bond Yield under the Regulations. The Internal
Revenue Service could recalculate Bond Yield if the failure to account for the hedge fails
to clearly reflect the economic substance of the transaction.
The Village also acknowledges that if it acquires a hedging contract with an
investment element (including e.g., an off-market swap agreement, or any cap agreement
for which all or a portion of the premium is paid at, or before the effective date of the cap
agreement), then a portion of such hedging contract may be treated as an investment of
Gross Proceeds of the Bonds, and be subject to the fair market purchase price rules,
rebate and yield restriction. The Village agrees not to use proceeds of the Bonds to pay
for any such hedging contract in whole or in part. The Village also agrees that it will not
give any assurances to any Bondholder, the Credit Facility Provider, if any, or any other
credit or liquidity enhancer with respect to the Bonds that any such hedging contract will
be entered into or maintained. The Village recognizes that if a portion of a hedging
contract is determined to be an investment of gross proceeds, such portion may not be
fairly priced even if the hedging contract as a whole is fairly priced.
2.9. Internal Revenue Service Audits. The Village represents that the Internal
Revenue Service has not contacted the Village regarding the Prior Bonds or any other
obligations issued by or on behalf of the Village. To the best of the knowledge of the
Village, no such obligations of the Village are currently under examination by the Internal
Revenue Service.
2.10. Abusive Transactions. Neither the Village nor any member of the same
Controlled Group as the Village will receive a rebate or credit resulting from any
payments having been made in connection with the issuance of the Bonds or the advance
refunding of the Refunded Bonds.
3.1. Use of Proceeds. (a) The use of the Sale Proceeds and investment earnings
thereon and the funds held under this Ordinance at the time of Closing are described in
the preceding Section of this Ordinance. No Sale Proceeds will be used to pre-pay for
goods or services to be received over a period of years prior to the date such goods or
services are to be received, except for any payment to the Credit Facility Provider, if any.
No Sale Proceeds or any investment earnings thereon will be used to pay for or otherwise
acquire goods or services from an Affiliated Person.
(b) Only the funds and accounts described in said Section will be funded at
Closing. There are no other funds or accounts created under this Ordinance, other than
the Rebate Fund if it is created as provided in paragraph 4.2 hereof.
(c)
Principal of and interest on the Bonds will be paid from the Bond Fund.
(d) Any Costs of Issuance incurred in connection with the issuance of the Bonds
to be paid by the Village will be paid at the time of Closing.
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3.2. Purpose of Bond Fund. The Bond Fund will be used primarily to achieve a
proper matching of revenues and earnings with principal and interest payments on the
Bonds in each bond year. It is expected that the Bond Fund will be depleted at least once
a year, except for a reasonable carry over amount not to exceed the greater of (a) the
earnings on the investment of moneys in the Bond Fund for the immediately preceding
bond year or (b) 1/12th of the principal and interest payments on the Bonds for the
immediately preceding bond year.
3.3. The Prior Bonds. (a) As of the earlier of (i) the time of the Closing or
(ii) the date three years after the Prior Bonds were issued, all Prior Bond Proceeds,
including investment earnings thereon, were completely spent to pay the costs of Capital
Expenditures.
(b) As of the date hereof, no Prior Bond Proceeds or money or property of any
kind (including cash) is on deposit in any fund or account, regardless of where held or the
source thereof, with respect to the Prior Bonds or any credit enhancement or liquidity
device relating to the foregoing, or is otherwise restricted to pay the Village’s obligations
other than amounts on deposit in the Escrow Account.
(c) The Prior Bond Fund was used primarily to achieve a proper matching of
revenues and earnings with principal and interest payments on the Prior Bonds in each
bond year. The Prior Bond Fund was depleted at least once a year, except for a
reasonable carry over amount not to exceed the greater of (i) the earnings on the
investment of moneys in such account for the immediately preceding bond year or
(ii) one-twelfth (1/12th) of the principal and interest payments on the Prior Bonds.
(d) At the time the Prior Bonds were issued, the Village reasonably expected to
spend at least 85% of the proceeds (including investment earnings) of the Prior Bonds to
be used for non-refunding purposes for such purposes within three years of the date the
Prior Bonds were issued and such proceeds were so spent. Not more than 50% of the
proceeds of the Prior Bonds to be used for non-refunding purposes were invested in
investments having a substantially guaranteed Yield for four years or more.
(e) The Refunded Bonds subject to redemption prior to maturity will be called
on the first optional redemption date of the Refunded Bonds.
(f) The Refunded Bonds do not include, directly or indirectly in a series, any
advance refunding obligations.
(g) The Village has not been notified that the Prior Bonds are under
examination by the Internal Revenue Service, and to the best of the Village’s knowledge
the Prior Bonds are not under examination by the Internal Revenue Service.
(h) The Village acknowledges that (i) the final rebate payment with respect to
the Prior Bonds may be required to be made sooner than if the refunding had not occurred
and (ii) the final rebate is due 60 days after the Prior Bonds are paid in full.
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3.4.
Closing.
The Escrow Account.
(a) The Escrow Account will be funded at the
(b) The uninvested cash and anticipated receipts from the Government
Securities on deposit in the Escrow Account, without regard to any reinvestment thereof,
will be sufficient to pay, when due, principal and interest on the Refunded Bonds as such
become due and payable and to redeem the outstanding principal amount of any callable
Refunded Bonds on the first optional redemption date of such callable Refunded Bonds,
at the applicable redemption price thereof based on the Verification Report.
(c) Any moneys remaining on deposit in the Escrow Account upon the final
disbursement of funds sufficient to pay principal and interest of the Refunded Bonds shall
be transferred by the Escrow Agent to the Bond Fund to be used to pay interest on the
Bonds.
3.5. No Other Gross Proceeds. (a) Except for the Bond Fund and except for
investment earnings that have been commingled as described in paragraph 2.2 and any
credit enhancement or liquidity device related to the Bonds, after the issuance of the
Bonds, neither the Village nor any member of the same Controlled Group as the Village
has or will have any property, including cash, securities or any other property held as a
passive vehicle for the production of income or for investment purposes, that constitutes:
(i)
Sale Proceeds;
(ii) amounts in any fund or account with respect to the Bonds (other than
the Rebate Fund);
(iii)
Transferred Proceeds;
(iv) amounts that have a sufficiently direct nexus to the Bonds or to the
governmental purpose of the Bonds to conclude that the amounts would have been
used for that governmental purpose if the Bonds were not used or to be used for
that governmental purpose (the mere availability or preliminary earmarking of
such amounts for a governmental purpose, however, does not itself establish such
a sufficient nexus);
(v) amounts in a debt service fund, redemption fund, reserve fund,
replacement fund or any similar fund to the extent reasonably expected to be used
directly or indirectly to pay principal of or interest on the Bonds or any amounts
for which there is provided, directly or indirectly, a reasonable assurance that the
amount will be available to pay principal of or interest on the Bonds or any
obligations under any credit enhancement or liquidity device with respect to the
Bonds, even if the Village encounters financial difficulties;
(vi) any amounts held pursuant to any agreement (such as an agreement to
maintain certain levels of types of assets) made for the benefit of the Bondholders
or any credit enhancement provider, including any liquidity device or negative
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pledge (e.g., any amount pledged to pay principal of or interest on an issue held
under an agreement to maintain the amount at a particular level for the direct or
indirect benefit of holders of the Bonds or a guarantor of the Bonds); or
(vii) amounts actually or constructively received from the investment and
reinvestment of the amounts described in (i) or (ii) above.
(b) No compensating balance, liquidity account, negative pledge of property
held for investment purposes required to be maintained at least at a particular level or
similar arrangement exists with respect to, in any way, the Bonds or any credit
enhancement or liquidity device related to the Bonds.
(c) The term of the Bonds is not longer than is reasonably necessary for the
governmental purposes of the Bonds. The weighted average maturity of the Bonds does
not exceed 120 percent of the average reasonably expected economic life of the Prior
Project. The maturity schedule of the Bonds (the “Principal Payment Schedule”) is
based on an analysis of revenues expected to be available to pay debt service on the
Bonds. The Principal Payment Schedule is not more rapid (i.e., having a lower average
maturity) because a more rapid schedule would place an undue burden on tax rates and
cause such rates to be increased beyond prudent levels, and would be inconsistent with
the governmental purpose of the Bonds as set forth in paragraph 2.1 hereof.
4.1. Compliance with Rebate Provisions. The Village covenants to take such
actions and make, or cause to be made, all calculations, transfers and payments that may
be necessary to comply with the Rebate Provisions applicable to the Bonds. The Village
will make, or cause to be made, rebate payments with respect to the Bonds in accordance
with law.
4.2. Rebate Fund. The Village is hereby authorized to create and establish a
special fund to be known as the Rebate Fund (the “Rebate Fund”), which, if created,
shall be continuously held, invested, expended and accounted for in accordance with this
Ordinance. Moneys in the Rebate Fund shall not be considered moneys held for the
benefit of the owners of the Bonds. Except as provided in the Regulations, moneys in the
Rebate Fund (including earnings and deposits therein) shall be held in trust for payment
to the United States as required by the Rebate Provisions and by the Regulations and as
contemplated under the provisions of this Ordinance.
4.3. Records. The Village agrees to keep and retain or cause to be kept and
retained for the period described in paragraph 7.9 adequate records with respect to the
investment of all Gross Proceeds and amounts in the Rebate Fund. Such records shall
include: (a) purchase price; (b) purchase date; (c) type of investment; (d) accrued interest
paid; (e) interest rate; (f) principal amount; (g) maturity date; (h) interest payment date;
(i) date of liquidation; and (j) receipt upon liquidation.
If any investment becomes Gross Proceeds on a date other than the date such
investment is purchased, the records required to be kept shall include the fair market
value of such investment on the date it becomes Gross Proceeds. If any investment is
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retained after the date the last Bond is retired, the records required to be kept shall include
the fair market value of such investment on the date the last Bond is retired. Amounts or
investments will be segregated whenever necessary to maintain these records.
4.4. Fair Market Value; Certificates of Deposit and Investment Agreements.
The Village will continuously invest all amounts on deposit in the Rebate Fund, together
with the amounts, if any, to be transferred to the Rebate Fund, in any investment
permitted under this Ordinance. In making investments of Gross Proceeds or of amounts
in the Rebate Fund the Village shall take into account prudent investment standards and
the date on which such moneys may be needed. Except as provided in the next sentence,
all amounts that constitute Gross Proceeds and all amounts in the Rebate Fund shall be
invested at all times to the greatest extent practicable, and no amounts may be held as
cash or be invested in zero yield investments other than obligations of the United States
purchased directly from the United States. In the event moneys cannot be invested, other
than as provided in this sentence due to the denomination, price or availability of
investments, the amounts shall be invested in an interest bearing deposit of a bank with a
yield not less than that paid to the general public or held uninvested to the minimum
extent necessary.
Gross Proceeds and any amounts in the Rebate Fund that are invested in
certificates of deposit or in GICs shall be invested only in accordance with the following
provisions:
(a) Investments in certificates of deposit of banks or savings and loan
associations that have a fixed interest rate, fixed payment schedules and
substantial penalties for early withdrawal shall be made only if either (i) the Yield
on the certificate of deposit (A) is not less than the Yield on reasonably
comparable direct obligations of the United States and (B) is not less than the
highest Yield that is published or posted by the provider to be currently available
from the provider on reasonably comparable certificates of deposit offered to the
public or (ii) the investment is an investment in a GIC and qualifies under
paragraph (b) below.
(b)
Investments in GICs shall be made only if
(i) the bid specifications are in writing, include all material terms
of the bid and are timely forwarded to potential providers (a term is
material if it may directly or indirectly affect the yield on the GIC);
(ii) the terms of the bid specifications are commercially reasonable
(a term is commercially reasonable if there is a legitimate business purpose
for the term other than to reduce the yield on the GIC);
(iii) all bidders for the GIC have equal opportunity to bid so that,
for example, no bidder is given the opportunity to review other bids (a last
look) before bidding;
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(iv) any agent used to conduct the bidding for the GIC does not bid
to provide the GIC;
(v) at least three of the providers solicited for bids for the GIC are
reasonably competitive providers of investments of the type purchased
(i.e., providers that have established industry reputations as competitive
providers of the type of investments being purchased);
(vi) at least three of the entities that submit a bid do not have a
financial interest in the Bonds;
(vii) at least one of the entities that provided a bid is a reasonably
competitive provider that does not have a financial interest in the Bonds;
(viii) the bid specifications include a statement notifying potential
providers that submission of a bid is a representation that the potential
provider did not consult with any other provider about its bid, that the bid
was determined without regard to any other formal or informal agreement
that the potential provider has with the Village or any other person
(whether or not in connection with the Bonds) and that the bid is not being
submitted solely as a courtesy to the Village or any other person for
purposes of satisfying the federal income tax requirements relating to the
bidding for the GIC;
(ix) the determination of the terms of the GIC takes into account the
reasonably expected deposit and drawdown schedule for the amounts to be
invested;
(x) the highest-yielding GIC for which a qualifying bid is made
(determined net of broker’s fees) is in fact purchased; and
(xi) the obligor on the GIC certifies the administrative costs that it
is paying or expects to pay to third parties in connection with the GIC.
(c) If a GIC is purchased, the Village will retain the following records
with its bond documents until three years after the Bonds are redeemed in their
entirety:
(i)
a copy of the GIC;
(ii) the receipt or other record of the amount actually paid for the
GIC, including a record of any administrative costs paid, and the
certification under subparagraph (b)(xi) of this paragraph;
(iii) for each bid that is submitted, the name of the person and entity
submitting the bid, the time and date of the bid, and the bid results; and
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(iv) the bid solicitation form and, if the terms of the GIC deviated
from the bid solicitation form or a submitted bid is modified, a brief
statement explaining the deviation and stating the purpose for the
deviation.
Moneys to be rebated to the United States shall be invested to mature on or prior
to the anticipated rebate payment date. All investments made with Gross Proceeds or
amounts in the Rebate Fund shall be bought and sold at fair market value. The fair
market value of an investment is the price at which a willing buyer would purchase the
investment from a willing seller in a bona fide, arm’s length transaction. Except for
investments specifically described in this Section and United States Treasury obligations
that are purchased directly from the United States Treasury, only investments that are
traded on an established securities market, within the meaning of regulations promulgated
under Section 1273 of the Code, will be purchased with Gross Proceeds. In general, an
“established securities market” includes: (i) property that is listed on a national securities
exchange, an interdealer quotation system or certain foreign exchanges; (ii) property that
is traded on a Commodities Futures Trading Commission designated board of trade or an
interbank market; (iii) property that appears on a quotation medium; and (iv) property for
which price quotations are readily available from dealers and brokers. A debt instrument
is not treated as traded on an established market solely because it is convertible into
property which is so traded.
An investment of Gross Proceeds in an External Commingled Fund shall be made
only to the extent that such investment is made without an intent to reduce the amount to
be rebated to the United States Government or to create a smaller profit or a larger loss
than would have resulted if the transaction had been at arm’s length and had the rebate or
Yield restriction requirements not been relevant to the Village. An investment of Gross
Proceeds shall be made in a Commingled Fund other than an External Commingled Fund
only if the investments made by such Commingled Fund satisfy the provisions of this
paragraph.
A single investment, or multiple investments awarded to a provider based on a
single bid may not be used for funds subject to different rules relating to rebate or yield
restriction.
The foregoing provisions of this paragraph satisfy various safe harbors set forth in
the Regulations relating to the valuation of certain types of investments. The safe harbor
provisions of this paragraph are contained herein for the protection of the Village, who
has covenanted not to take any action to adversely affect the tax-exempt status of the
interest on the Bonds. The Village will contact Bond Counsel if it does not wish to
comply with the provisions of this paragraph and forego the protection provided by the
safe harbors provided herein.
4.5. Arbitrage Elections. The Village hereby waives its right to invest Sale
Proceeds of the Bonds and investment earnings thereon in the Escrow Account in
investments with Yields higher than Bond Yield. The President, Village Clerk and
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Village Treasurer are hereby authorized to execute one or more elections regarding
certain matters with respect to arbitrage.
5.1. Issue Price. For purposes of determining the Yield on the Bonds, the
purchase price of the Bonds is equal to the first offering price (including accrued interest)
at which the Purchaser reasonably expected to sell at least ten percent of the principal
amount of each maturity of the Bonds to the public (excluding bond houses, brokers or
similar persons or organizations acting in the capacity of underwriters, placement agents
or wholesalers). All of the Bonds have been the subject of a bona fide initial offering to
the public (excluding bond houses, brokers, or similar persons or organizations acting in
the capacity of underwriters, placement agents or wholesalers) at prices equal to those set
forth in the Official Statement. Based upon prevailing market conditions, such prices are
not less than the fair market value of each Bond as of the sale date for the Bonds.
5.2. Yield Limits. Except as provided in paragraph (a) or (b), all Gross Proceeds
shall be invested at market prices and at a Yield (after taking into account any Yield
Reduction Payments) not in excess of the Yield on the Bonds.
The following may be invested without Yield restriction:
(a) amounts on deposit in the Bond Fund (except for capitalized interest) that
have not been on deposit under the Ordinance for more than 13 months, so long as the
Bond Fund continues to qualify as a bona fide debt service fund as described in
paragraph 3.2 hereof;
(b) (i) An amount not to exceed the lesser of $100,000 or five percent of the
Sale Proceeds;
(ii) amounts invested in Qualified Tax Exempt Obligations (to the extent
permitted by law and this Ordinance);
(iii)
amounts in the Rebate Fund;
(iv) all amounts other than Sale Proceeds for the first 30 days after they
become Gross Proceeds; and
(v) all amounts derived from the investment of Sale Proceeds or
investment earnings thereon other than those on deposit in the Escrow Account
for a period of one year from the date received.
5.3. Yield Limits on Prior Bond Proceeds. Except for an amount not to exceed
the lesser of $100,000 or five percent of Prior Bond Proceeds, the Village acknowledges
that all Prior Bond Proceeds must be invested at market prices and at a Yield not in
excess of the Yield on the Prior Bonds.
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5.4. Continuing Nature of Yield Limits. Except as provided in paragraph 7.10
hereof, once moneys are subject to the Yield limits of paragraph 5.2 hereof, such moneys
remain Yield restricted until they cease to be Gross Proceeds.
5.5. Federal Guarantees. Except for investments meeting the requirements of
paragraph 5.2(a) hereof and except for investments in the Escrow Account, investments
of Gross Proceeds shall not be made in (a) investments constituting obligations of or
guaranteed, directly or indirectly, by the United States (except obligations of the United
States Treasury or investments in obligations issued pursuant to Section 21B(d)(3) of the
Federal Home Loan Bank, as amended (e.g., Refcorp Strips)); or (b) federally insured
deposits or accounts (as defined in Section 149(b)(4)(B) of the Code). Except as
otherwise permitted in the immediately prior sentence and in the Regulations, no portion
of the payment of principal or interest on the Bonds or any credit enhancement or
liquidity device relating to the foregoing is or will be guaranteed, directly or indirectly (in
whole or in part), by the United States (or any agency or instrumentality thereof),
including a lease, incentive payment, research or output contract or any similar
arrangement, agreement or understanding with the United States or any agency or
instrumentality thereof. No portion of the Gross Proceeds has been or will be used to
make loans the payment of principal or interest with respect to which is or will be
guaranteed (in whole or in part) by the United States (or any agency or instrumentality
thereof). Neither this paragraph nor paragraph 5.6 hereof applies to any guarantee by the
Federal Housing Administration, the Federal National Mortgage Association, the Federal
Home Loan Mortgage Corporation, the Government National Mortgage Association, the
Student Loan Marketing Association or the Bonneville Power Administration pursuant to
the Northwest Power Act (16 U.S.C. 839d) as in effect on the date of enactment of the
Tax Reform Act of 1984.
5.6. Investments After the Expiration of Temporary Periods, Etc. Any amounts,
other than amounts in the Escrow Account, that are subject to the yield limitation in
Section 5.2 because Section 5.2(a) is not applicable and amounts not subject to yield
restriction only because they are described in Section 5.2(b) cannot be invested in
(i) federally insured deposits or accounts (as defined in Section 149(b)(4)(B) of the Code)
or (ii) investments constituting obligations of or guaranteed, directly or indirectly, by the
United States (except obligations of the United States Treasury or investments in
obligations issued pursuant to Section 21B(d)(3) of the Federal Home Loan Bank Act, as
amended (e.g., Refcorp Strips)).
5.7. Escrow Yield. The Yield on the Government Securities purchased with
Sale Proceeds of the Bonds, taking into account any Transferred Proceeds, will be
computed by the Purchaser and verified by the Verifier to be not greater than the Yield on
the Bonds computed by the Purchaser and verified by the Verifier.
5.8. Treatment of Certain Credit Facility Fees. The fee paid to the Credit
Facility Provider with respect to the Credit Facility may be treated as interest in
computing Bond Yield.
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Neither the Village nor any member of the same Controlled Group as the Village
is a Related Person as defined in Section 144(a)(3) of the Code to the Credit Facility
Provider. The fee paid to the Credit Facility Provider does not exceed ten percent of the
Sale Proceeds. Other than the fee paid to the Credit Facility Provider, neither the Credit
Facility Provider nor any person who is a Related Person to the Credit Facility Provider
within the meaning of Section 144(a)(3) of the Code will use any Sale Proceeds or
investment earnings thereon. The fee paid for the Credit Facility does not exceed a
reasonable, arm’s length charge for the transfer of credit risk. The fee does not include
any payment for any direct or indirect services other than the transfer of credit risk.
6.1. Payment and Use Tests. (a) No more than five percent of the proceeds of
each issue of the Prior Bonds and investment earnings thereon were used, directly or
indirectly, in whole or in part, in any Private Business Use. The Village acknowledges
that, for purposes of the preceding sentence, Gross Proceeds used to pay costs of issuance
and other common costs (such as capitalized interest and fees paid for a qualified
guarantee or qualified hedge) or invested in a reserve or replacement fund must be ratably
allocated among all the purposes for which Gross Proceeds are being used.
(b) The payment of more than five percent of the principal of or the interest on
the Bonds or on each issue of the Prior Bonds considered separately will not be, directly
or indirectly (i) secured by any interest in (A) property used or to be used in any Private
Business Use or (B) payments in respect of such property or (ii) on a present value basis,
derived from payments (whether or not to the Village or a member of the same Controlled
Group as the Village) in respect of property, or borrowed money, used or to be used in
any Private Business Use.
(c) No more than the lesser of $5,000,000 or five percent of the sum of the
proceeds of each issue of the Prior Bonds and investment earnings thereon were used, and
no more than the lesser of $5,000,000 or five percent of the sum of the Sale Proceeds and
investment earnings thereon will be used, directly or indirectly, to make or finance loans
to any persons. The Village acknowledges that, for purposes of the preceding sentence,
Gross Proceeds used to pay costs of issuance and other common costs (such as capitalized
interest and fees paid for a qualified guarantee or qualified hedge) or invested in a reserve
or replacement fund must be ratably allocated among all the purposes for which Gross
Proceeds are being used.
(d) No user of the Prior Project other than a state or local governmental unit will
use more than five percent of such facilities, considered separately, on any basis other
than the same basis as the general public.
6.2. I.R.S. Form 8038-G. The information contained in the Information Return
for Tax-Exempt Governmental Obligations, Form 8038-G, is true and complete. The
Village will file Form 8038-G (and all other required information reporting forms) in a
timely manner.
6.3. Bank Qualification. (a) If so set forth in the Bond Notification, each of the
Bonds shall be designated as a “qualified tax-exempt obligation” for the purposes and
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within the meaning of Section 265(b)(3) of the Code. In support of such designation, the
Village hereby certifies that (i) none of the Bonds will be at anytime a “private activity
bond” (as defined in Section 141 of the Code), (ii) as of the date hereof in calendar year
2014, other than the Bonds, no tax-exempt obligations of any kind have been issued
(x) by or on behalf of the Village, (y) by other issuers any of the proceeds of which have
been or will be used to make any loans to the Village or (z) any portion of which has been
allocated to the Village for purposes of Section 265(b) of the Code and (iii) not more than
$10,000,000 of obligations of any kind (including the Bonds) issued (x) by or on behalf
of the Village, (y) by other issuers any of the proceeds of which have been or will be used
to make any loans to the Village or (z) any portion of which has been allocated to the
Village for purposes of Section 265(b) of the Code during calendar year 2014 will be
designated for purposes of Section 265(b)(3) of the Code.
(b) The Village is not subject to Control by any entity, and there are no entities
subject to Control by the Village.
(c) On the date hereof, the Village does not reasonably anticipate that for
calendar year 2014 it will issue, have another entity issue on behalf of the Village, borrow
the proceeds of or have allocated to the Village for purposes of Section 265(b) of the
Code more than $10,000,000 Section 265 Tax-Exempt Obligations (including the Bonds).
“Section 265 Tax-Exempt Obligations” are obligations the interest on which is
excludable from gross income of the owners thereof under Section 103 of the Code,
except for private activity bonds other than qualified 501(c)(3) bonds, both as defined in
Section 141 of the Code. The Village will not, in calendar year 2014 issue, permit the
issuance on behalf of it or by any entity subject to Control by the Village (which may
hereafter come into existence), borrow the proceeds of or have allocated to it for purposes
of Section 265(b) of the Code Section 265 Tax-Exempt Obligations (including the
Bonds) that exceed the aggregate amount of $10,000,000 during calendar year 2014
unless it first obtains an opinion of Bond Counsel to the effect that such issuance,
borrowing or allocation will not adversely affect the treatment of the Bonds as “qualified
tax-exempt obligations” for the purpose and within the meaning of Section 265(b)(3) of
the Code.
(d)
The Bonds have not been sold in conjunction with any other obligation.
7.1. Termination; Interest of Village in Rebate Fund. The terms and provisions
set forth in this Section shall terminate at the later of (a) 75 days after the Bonds have
been fully paid and retired or (b) the date on which all amounts remaining on deposit in
the Rebate Fund, if any, shall have been paid to or upon the order of the United States and
any other payments required to satisfy the Rebate Provisions of the Code have been made
to the United States. Notwithstanding the foregoing, the provisions of paragraphs 4.3,
4.4(c) and 7.9 hereof shall not terminate until the third anniversary of the date the Bonds
are fully paid and retired.
7.2. Separate Issue. Since a date that is 15 days prior to the date of sale of the
Bonds by the Village to the Purchaser, neither the Village nor any member of the same
Controlled Group as the Village has sold or delivered any tax-exempt obligations other
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than the Bonds that are reasonably expected to be paid out of substantially the same
source of funds as the Bonds. Neither the Village nor any member of the same
Controlled Group as the Village will sell or deliver within 15 days after the date of sale of
the Bonds any tax-exempt obligations other than the Bonds that are reasonably expected
to be paid out of substantially the same source of funds as the Bonds.
7.3. No Sale of the Prior Project. (a) Other than as provided in the next
sentence, neither the Prior Project nor any portion thereof has been, is expected to be, or
will be sold or otherwise disposed of, in whole or in part, prior to the earlier of (i) the last
date of the reasonably expected economic life to the Village of the property (determined
on the date of issuance of the Bonds) or (ii) the last maturity date of the Bonds. The
Village may dispose of personal property in the ordinary course of an established
government program prior to the earlier of (i) the last date of the reasonably expected
economic life to the Village of the property (determined on the date of issuance of the
Bonds) or (ii) the last maturity of the Bonds, provided: (A) the weighted average
maturity of the Bonds financing the personal property is not greater than 120 percent of
the reasonably expected actual use of that property for governmental purposes; (B) the
Village reasonably expects on the issue date that the fair market value of that property on
the date of disposition will be not greater than 25 percent of its cost; (C) the property is
no longer suitable for its governmental purposes on the date of disposition; and (D) the
Village deposits amounts received from the disposition in a commingled fund with
substantial tax or other governmental revenues and the Village reasonably expects to
spend the amounts on governmental programs within six months from the date of the
commingling.
(b) The Village acknowledges that if property financed with the Prior Bonds is
sold or otherwise disposed of in a manner contrary to (a) above, such sale or disposition
may constitute a “deliberate action” within the meaning of the Regulations that may
require remedial actions to prevent the Bonds from becoming private activity bonds. The
Village shall promptly contact Bond Counsel if a sale or other disposition of Bondfinanced property is considered by the Village.
7.4. Purchase of Bonds by Village. The Village will not purchase any of the
Bonds except to cancel such Bonds.
7.5. First Call Date Limitation. The period between the date of Closing and the
first call date of the Bonds is not more than 10-1/2 years.
7.6. Registered Form. The Village recognizes that Section 149(a) of the Code
requires the Bonds to be issued and to remain in fully registered form in order that
interest thereon be exempt from federal income taxation under laws in force at the time
the Bonds are delivered. In this connection, the Village agrees that it will not take any
action to permit the Bonds to be issued in, or converted into, bearer or coupon form.
7.7. First Amendment. The Village acknowledges and agrees that it will not
use, or allow the Prior Project to be used, in a manner which is prohibited by the
Establishment of Religion Clause of the First Amendment to the Constitution of the
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United States of America or by any comparable provisions of the Constitution of the State
of Illinois.
7.8. Future Events. The Village acknowledges that any changes in facts or
expectations from those set forth herein may result in different Yield restrictions or rebate
requirements from those set forth herein. The Village shall promptly contact Bond
Counsel if such changes do occur.
7.9. Records Retention. The Village agrees to keep and retain or cause to be kept
and retained sufficient records to support the continued exclusion of the interest paid on
the Bonds from federal income taxation, to demonstrate compliance with the covenants in
this Ordinance and to show that all tax returns related to the Bonds submitted or required
to be submitted to the Internal Revenue Service are correct and timely filed. Such records
shall include, but are not limited to, basic records relating to the Bond transaction
(including this Ordinance and the Bond Counsel opinion); documentation evidencing the
expenditure of Bond proceeds; documentation evidencing the use of Bond-financed
property by public and private entities (i.e., copies of leases, management contracts and
research agreements); documentation evidencing all sources of payment or security for
the Bonds; and documentation pertaining to any investment of Bond proceeds (including
the information required under paragraphs 4.3 and 4.4 hereof and in particular
information related to the purchase and sale of securities, SLGs subscriptions, yield
calculations for each class of investments, actual investment income received from the
investment of proceeds, guaranteed investment contracts and documentation of any
bidding procedure related thereto and any fees paid for the acquisition or management of
investments and any rebate calculations). Such records shall be kept for as long as the
Bonds are outstanding, plus three (3) years after the later of the final payment date of the
Bonds or the final payment date of any obligations or series of obligations issued to
refund directly or indirectly all or any portion of the Bonds.
7.10. Permitted Changes; Opinion of Bond Counsel. The Yield restrictions
contained in paragraph 5.2 hereof or any other restriction or covenant contained herein
need not be observed or may be changed if such nonobservance or change will not result
in the loss of any exemption for the purpose of federal income taxation to which interest
on the Bonds is otherwise entitled and the Village receives an opinion of Bond Counsel to
such effect. Unless the Village otherwise directs, such opinion shall be in such form and
contain such disclosures and disclaimers as may be required so that such opinion will not
be treated as a covered opinion or a state or local bond opinion for purposes of Treasury
Department regulations governing practice before the Internal Revenue Service
(Circular 230) 31 C.F.R. pt. 10.
7.11. Excess Proceeds. Gross Proceeds of the Bonds and investment earnings
thereon and all unspent Prior Bond Proceeds as of the date of Closing and investment
earnings thereon do not exceed by more than one percent of the Sale Proceeds of the
Bonds the amount that will be used for:
(i)
Bonds;
payment of principal of or interest or call premium on the Refunded
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(ii) payment of pre-issuance accrued interest on the Bonds and interest on
the Bonds that accrues for a period up to the completion date of any capital project
for which the prior issue was issued, plus one year;
(iii)
payment of cost of issuance of the Bonds;
(iv) payment of administrative costs allocable to repaying the Refunded
Bonds, carrying and repaying the Bonds or investments of the Bonds;
(v) Prior Bond Proceeds that will be used or maintained for the
governmental purpose of the Refunded Bonds;
(vi)
interest on purpose investments; and
(vii)
costs of the Credit Facility, if any, allocable to the Bonds.
7.12. Successors and Assigns. The terms, provisions, covenants and conditions
of this Section shall bind and inure to the benefit of the respective successors and assigns
of the Village Board and the Village.
7.13. Expectations. The Village Board has reviewed the facts, estimates and
circumstances in existence on the date of issuance of the Bonds. Such facts, estimates
and circumstances, together with the expectations of the Village as to future events, are
set forth in summary form in this Section. Such facts and estimates are true and are not
incomplete in any material respect. On the basis of the facts and estimates contained
herein, the Village has adopted the expectations contained herein. On the basis of such
facts, estimates, circumstances and expectations, it is not expected that Sale Proceeds,
investment earnings thereon or any other moneys or property will be used in a manner
that will cause the Bonds to be arbitrage bonds within the meaning of the Rebate
Provisions and the Regulations. Such expectations are reasonable and there are no other
facts, estimates and circumstances that would materially change such expectations.
The Village also agrees and covenants with the purchasers and holders of the Bonds from
time to time outstanding that, to the extent possible under Illinois law, it will comply with
whatever federal tax law is adopted in the future which applies to the Bonds and affects the
tax-exempt status of the Bonds.
The Village Board hereby authorizes the officials of the Village responsible for issuing
the Bonds, the same being the President, Village Clerk and Village Treasurer, to make such
further covenants and certifications as may be necessary to assure that the use thereof will not
cause the Bonds to be arbitrage bonds and to assure that the interest in the Bonds will be exempt
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from federal income taxation. In connection therewith, the Village and the Village Board further
agree: (a) through their officers, to make such further specific covenants, representations as shall
be truthful, and assurances as may be necessary or advisable; (b) to consult with counsel
approving the Bonds and to comply with such advice as may be given; (c) to pay to the United
States, as necessary, such sums of money representing required rebates of excess arbitrage profits
relating to the Bonds; (d) to file such forms, statements, and supporting documents as may be
required and in a timely manner; and (e) if deemed necessary or advisable by their officers, to
employ and pay fiscal agents, financial advisors, attorneys, and other persons to assist the Village
in such compliance.
Section 18.
Rights and Duties of Bond Registrar and Paying Agent. If requested by the
Bond Registrar or the Paying Agent, or both, any officer of the Village is authorized to execute
standard forms of agreements between the Village and the Bond Registrar or Paying Agent with
respect to the obligations and duties of the Bond Registrar or Paying Agent hereunder. In
addition to the terms of such agreements and subject to modification thereby, the Bond Registrar
and Paying Agent by acceptance of duties hereunder agree:
(a)
to act as bond registrar, paying agent, authenticating agent, and transfer
agent as provided herein;
(b)
as to the Bond Registrar, to maintain a list of Bondholders as set forth herein
and to furnish such list to the Village upon request, but otherwise to keep such list
confidential to the extent permitted by law;
(c)
to give notice of redemption of Bonds as provided herein;
(d)
as to the Bond Registrar, to cancel and/or destroy Bonds which have been
paid at maturity or upon redemption or submitted for exchange or transfer;
(e)
as to the Bond Registrar, to furnish the Village at least annually a certificate
with respect to Bonds cancelled and/or destroyed; and
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(f)
to furnish the Village at least annually an audit confirmation of Bonds paid,
Bonds outstanding and payments made with respect to interest on the Bonds.
The Village Clerk of the Village is hereby directed to file a certified copy of this
Ordinance with the Bond Registrar and the Paying Agent.
Section 19.
Taxes Previously Levied. The taxes previously levied to pay principal of
and interest on the Refunded Bonds, to the extent such principal and interest is provided for from
the proceeds of the Bonds, shall be abated. The filing of a certificate of abatement with the
County Clerk shall constitute authority and direction for the County Clerk to make such
abatement.
Section 20.
Defeasance.
Any Bond or Bonds which (a) are paid and cancelled,
(b) which have matured and for which sufficient sums have been deposited with the Paying
Agent to pay all principal and interest due thereon, or (c) for which sufficient U.S. funds and
direct U.S. Treasury obligations have been deposited with the Paying Agent or similar institution
to pay, taking into account investment earnings on such obligations, all principal of and interest
on such Bond or Bonds when due at maturity or as called for redemption, pursuant to an
irrevocable escrow or trust agreement, shall cease to have any lien on or right to receive or be
paid from the Bond Moneys or Pledged Taxes hereunder and shall no longer have the benefits of
any covenant for the registered owners of outstanding Bonds as set forth herein as such relates to
lien and security of the outstanding Bonds. All covenants relative to the Tax-exempt status of
the Bonds; and payment, registration, transfer, and exchange; are expressly continued for all
Bonds whether outstanding Bonds or not.
Section 21.
Continuing Disclosure Undertaking.
The President is hereby authorized,
empowered and directed to execute and deliver the Continuing Disclosure Undertaking (the
“Continuing Disclosure Undertaking”) in substantially the same form as now before the Village
Board, or with such changes therein as he shall approve, his execution thereof to constitute
-46-
conclusive evidence of the approval of such changes.
When the Continuing Disclosure
Undertaking is executed and delivered on behalf of the Village as herein provided, the
Continuing Disclosure Undertaking will be binding on the Village and the officers, employees
and agents of the Village, and the officers, employees and agents of the Village are hereby
authorized, empowered and directed to do all such acts and things and to execute all such
documents as may be necessary to carry out and comply with the provisions of the Continuing
Disclosure Undertaking as executed. Notwithstanding any other provision of this Ordinance, the
sole remedies for failure to comply with the Continuing Disclosure Undertaking shall be the
ability of the beneficial owner of any Bond to seek mandamus or specific performance by court
order, to cause the Village to comply with its obligations under the Continuing Disclosure
Undertaking.
Section 22.
Call of Refunded Bonds. In accordance with the redemption provisions of
the bond ordinances authorizing the Prior Bonds, the Village by the Village Board does hereby
make provision for the payment of and does hereby call (subject only to the delivery of the
Bonds) the Refunded Bonds for redemption and payment prior to maturity on their earliest
practical call dates therefor, the same being the dates set forth in the Bond Notification.
Section 23.
Municipal Bond Insurance.
In the event the payment of principal and
interest on the Bonds is insured pursuant to a municipal bond insurance policy (the “Municipal
Bond Insurance Policy”) issued by a bond insurer (the “Bond Insurer”), and as long as such
Municipal Bond Insurance Policy shall be in full force and effect, the Village and the Bond
Registrar agree to comply with such usual and reasonable provisions regarding presentment and
payment of the Bonds, subrogation of the rights of the Bondholders to the Bond Insurer when
holding Bonds, amendment hereof, or other terms, as approved by the President on advice of
counsel, his approval to constitute full and complete acceptance by the Village of such terms and
provisions under authority of this section.
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Section 24.
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.
[Remainder of Page Intentionally Left Blank]
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Section 25.
Superseder and Effective Date. All ordinances, resolutions and orders, or
parts thereof, in conflict herewith, are to the extent of such conflict hereby superseded; and this
Ordinance shall be in full force and effect immediately upon its passage and approval.
PASSED by the Board of Trustees of the Village of Oswego, Kendall County, Illinois
this 21st day of October 2014.
TONY GILES
TERRY MICHELS
GAIL JOHNSON
JUDY SOLLINGER
PAM PARR
SCOTT VOLPE
APPROVED by me, Brian LeClercq, as Village President of Board of Trustees of the
Village of Oswego, Kendall County, Illinois this 21st day of October 2014.
_______________________________________
President, Village of Oswego
Recorded In Village Records: October 21, 2014.
ATTEST:
_________________________________
Village Clerk, Village of Oswego
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EXHIBIT A
ESCROW AGREEMENT
STATE OF ILLINOIS
COUNTY OF KENDALL
)
) SS
)
CERTIFICATION OF MINUTES AND ORDINANCE
I, the undersigned, do hereby certify that I am the duly qualified and acting Village Clerk
of the Village of Oswego, Kendall County, Illinois (the “Village”), and as such official I am the
keeper of the official journal of proceedings, books, records, minutes and files of the Village and
of the President and Board of Trustees (the “Board”) thereof.
I do further certify that the foregoing is a full, true and complete transcript of that portion
of the minutes of the meeting of the Village Board held on the 21st day of October, 2014 insofar
as the same relates to the adoption of an ordinance, numbered ____ entitled:
a true, correct and complete copy of which said ordinance as adopted at said meeting appears in
the foregoing transcript of the minutes of said meeting.
I do further certify that the deliberations of the Board on the adoption of said ordinance
were conducted openly, that the vote on the adoption of said ordinance was taken openly, that
said meeting was held at a specified time and place convenient to the public, that notice of said
meeting was duly given to all of the news media requesting such notice, that an agenda for said
meeting was posted at the location where said meeting was held and at the principal office of the
Board at least 96 hours in advance of the holding of said meeting, that at least one copy of said
agenda was continuously available for public review during the entire 96-hour period preceding
said meeting, that a true, correct and complete copy of said agenda as so posted is attached hereto
as Exhibit A, that said meeting was called and held in strict compliance with the provisions of the
Open Meetings Act of the State of Illinois, as amended, and with the provisions of the Illinois
Municipal Code, as amended, and that the Board has complied with all of the provisions of said
Act and said Code and with all of the procedural rules of the Board.
IN WITNESS WHEREOF I hereunto affix my official signature and the seal of the Village
this 21st day of October, 2014.
_______________________________________
Village Clerk
[SEAL]
[Attach Exhibit B]
STATE OF ILLINOIS
COUNTY OF KENDALL
)
) SS
)
CERTIFICATE OF FILING
I, the undersigned, do hereby certify that I am the duly qualified and acting County Clerk
of The County of Kendall, Illinois, and as such officer I do hereby certify that on the ____ day of
____________, 20__, there was filed in my office a properly certified copy of Ordinance
Number ____ passed by the President and Board of Trustees of the Village of Oswego, Kendall
County, Illinois, on the 21st day of October, 2014, and entitled:
and that the same has been deposited in, and all as appears from, the official files and records of
my office.
IN WITNESS WHEREOF I have hereunto affixed my official signature and the seal of The
County of Kendall, Illinois, this ____ day of ____________, 20__.
_______________________________________
County Clerk of The County of Kendall, Illinois
[SEAL]
100 Parkers Mill • Oswego, IL 60543 • (630) 554-3618 • Fax: (630) 554-3306
AGENDA MEMORANDUM
TO:
CC:
FROM:
Christina Burns, Assistant Village Administrator/HR Director
DATE:
October 14, 2014
AGENDA:
October 21, 2014 Village Board Meeting.
SUBJECT:
Interim Building and Zoning Manager Contract Extension
Purpose
To extend a contract with GovHR for Interim Building and Zoning Manager Tom Pahnke.
Background
Mr. Pahnke has served as Interim Building and Zoning manager since late April of this year.
Board Action Previous Taken
Approval of contract with GovHR at the April 29, 2014 Special Village Board Meeting.
Discussion
The original contract with GovHR expires October 31. Staff believes the best time to begin the
recruitment process is late winter/early spring both for operational reasons and to have the bestavailable candidate pool. The contract extension maintains the same terms and conditions as the
previous contract, only amending the term.
Funding
The contract rate was established to be less than the salary and benefit costs for the full-time
Building and Zoning Manager, so there is no additional budget impact.
Recommendation
Approval of resolution amending a contract with GovHR for the Interim Building and Zoning
Manager.
N/A
RESOLUTION NO. 14 - R _______________________________________________________________________
RESOLUTION AMENDING AN AGREEMENT WITH GOVHR
FOR AN INTERIM BUILDING & ZONING MANAGER
________________________________________________________________________
affairs; and
WHEREAS, the Village has a population of more than 25,000 and is therefore a "Home Rule
Unit" under the 1970 Illinois Constitution; and
WHEREAS, it is in the best interest of the Village of Oswego to amend the agreement
substantially in the form attached hereto marked as Exhibit “A”.
AS FOLLOWS:
SECTION 1.
SECTION 2. REPEALER
PASSED by the Board of Trustees of the Village of Oswego, Kendall County, Illinois this 21st
day of October, 2014.
TONY GILES
TERRY MICHELS
GAIL JOHNSON
JUDY SOLLINGER
PAM PARR
SCOTT VOLPE
Illinois, this 21st day of October, 2014.
___________________________________
__________________________
STATE OF ILLINOIS
)
)
COUNTY OF KENDALL )
SS
CLERK'S CERTIFICATE
the attached hereto is a true and correct copy of a Resolution entitled:
RESOLUTION AMENDING AN AGREEMENT WITH GOVHR
FOR AN INTERIM BUILDING & ZONING MANAGER
which Resolution was duly adopted by said Board of Trustees at a regular meeting held on the
I do further certify that a quorum of said Board of Trustees was present at said meeting
and that the Board complied with all requirements of the Illinois Open Meetings Act.
IN WITNESS WHEREOF, I have hereunto set my hand this 22nd day of October, 2014.
Village of Oswego
(Seal)
EMPLOYEE LEASING AGREEMENT
THIS EMPLOYEE LEASING AGREEMENT (this "Agreement") is made this 29th
day of April 2014 ("Effective Date") by and between GOVTEMPUSA, LLC, an Illinois limited
liability company ("GovTemp"), and Village of Oswego (the "Municipality") (GovTemp and the
Municipality may be referred to herein individually as "Party" and collectively as the "Parties")
RECITALS
The Municipality desires to lease certain employees of GovTemp to assist the
Municipality in its operations and GovTemp desires to lease certain of its employees to the
Municipality on the terms and conditions contained herein.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual covenants and conditions set forth
below, and other good and valuable considerations, the receipt and sufficiency of which are
mutually acknowledged by the Parties, the Parties hereby agree as follows:
SECTION 1
SCOPE OF AGREEMENT
Section 1.01. Worksite Employee. The Municipality hereby agrees to engage the
services of GovTemp to provide, and GovTemp hereby agrees to supply to the Municipality, the
personnel fully identified on Exhibit A hereto, hereinafter the "Worksite Employee." Exhibit A
to this Agreement shall further identify the employment position and/or assignment
("Assignment") the Worksite Employee shall fill at the Municipality and shall further identify
the base compensation for each Worksite Employee, as of the effective date of this Agreement.
Exhibit A may be amended from time to time by a replacement Exhibit A signed by both
GovTemp and the Municipality. GovTemp shall have the sole authority to assign and/or remove
the Worksite Employee, provided, however, that the Municipality may request, in writing, that
GovTemp remove or reassign the Worksite Employee, such request shall not be unreasonably
withheld by GovTemp. The Parties hereto understand and acknowledge that the Worksite
Employee shall be subject to the Municipality's day-to-day supervision.
Section 1.02. Independent Contractor. GovTemp is and shall remain an independent
contractor, and not an employee, agent, partner of, or joint venturer with, the Municipality.
GovTemp shall have no authority to bind the Municipality to any commitment, contract,
agreement or other obligation without the Municipality’s express written consent.
SECTION 2
SERVICES AND OBLIGATIONS OF GOVTEMP AND MUNICIPALITY
Section 2.01. Payment of Wages. GovTemp shall timely pay the wages and related
payroll taxes of the Worksite Employee from GovTemp’s own account in accordance with
federal and Illinois law and GovTemp’s standard payroll practices. GovTemp shall withhold
from such wages all applicable taxes and other deductions elected by the Worksite Employee.
GovTemp shall timely forward all deductions to the appropriate recipient as required by law.
The Municipality hereby acknowledges that GovTemp may engage a financial entity to maintain
its financing and record keeping services, which may include the payment of wages and related
payroll taxes in accordance with this Section 2.01. The Municipality agrees to cooperate with
any such financial entity to ensure timely payment of (i) wages and related payroll taxes pursuant
to this Section 2.01, and (ii) Fees pursuant to Section 3.03.
Section 2.02. Workers’ Compensation. To the extent required by applicable law,
GovTemp shall maintain and administer workers’ compensation, safety and health programs.
GovTemp shall maintain in effect workers’ compensation coverage covering all Worksite
Employee and complete and file all required workers’ compensation forms and reports.
Section 2.03. Employee Benefits. GovTemp shall provide to Worksite Employee those
employee benefits fully identified on Exhibit B hereto. GovTemp may amend or terminate any
of its employee benefit plans according to their terms. All employee benefits, including
severance benefits for Worksite Employee will be included in Fees payable to GovTemp under
Section 3.01 of this Agreement.
Section 2.04. Maintenance and Retention of Payroll and Benefit Records. GovTemp
shall maintain complete records of all wages and benefits paid and personnel actions taken by
GovTemp in connection with any of the Worksite Employee, shall retain control of such records
at such GovTemp location as shall be determined solely by GovTemp, and shall make such
records available as required by applicable federal, state or local laws.
Section 2.05. Other Obligations of GovTemp. GovTemp shall be responsible for
compliance with any federal, state and local law that may apply to its Worksite Employee(s).
Section 2.06. Direction and Control. The Parties agree and acknowledge that the
Municipality has the right of direction and control over the Worksite Employee, including
matters of discipline, excluding removal or reassignment, as provided for by Section 1.01. The
Worksite Employee shall be supervised, directly and indirectly, and exclusively by the
Municipality's supervisory and managerial employees.
Section 2.07. Obligations of the Municipality. As part of the employee leasing
relationship, the Municipality hereby covenants, agrees and acknowledges:
(a)
The Municipality shall comply with OSHA and all other health and safety
laws, regulations, ordinances, directives, and rules applicable to the Worksite Employee
or to his or her place of work. The Municipality agrees to comply, at its expense, with
all health and safety directives from GovTemp's internal and external loss control
specialists, GovTemp's workers’ compensation carrier, or any government agency having
jurisdiction over the place of work. The Municipality shall provide and ensure use of all
personal protective equipment as required by any federal, state or local law, regulation,
ordinance, directive, or rule or as deemed necessary by GovTemp’s workers’
compensation carrier. GovTemp and GovTemp’s insurance carriers shall have the right
to inspect the Municipality’s premises to ensure that the Worksite Employee is not
exposed to an unsafe work place. In no way shall GovTemp’s rights under this paragraph
#10143062_v3
2
affect the Municipality’s obligations to the Worksite Employees under applicable law or
to GovTemp under this Agreement;
(b)
With respect to the Worksite Employees, the Municipality shall comply
with all applicable employment-related laws and regulations, including and, without
limitation, Title VII of the Civil Rights Act of 1964, as amended, (Title VII), the
Americans With Disabilities Act of 1990 (ADA), the Age Discrimination in Employment
Act (ADEA), the Equal Pay Act of 1963, the Civil Rights Acts of 1866 and 1871 (42
U.S.C. § 1981), the Family and Medical Leave Act of 1993, the Fair Labor Standards Act
of 1938, the National Labor Relations Act, the Employee Retirement Income Security
Act of 1974, the Illinois State Constitution, the Illinois Human Rights Act, and any other
federal, state or local law, statute, ordinance, order, regulation, policy or decision
regulating wages and the payment of wages, prohibiting employment discrimination or
otherwise establishing or relating to rights of employees;
(c)
The Municipality shall retain the right to exert sufficient direction and
control over the Worksite Employee as is necessary to conduct the Municipality's
business and operations, without which, the Municipality would be unable to conduct its
business, operation or comply with any applicable licensure, regulatory or statutory
requirements;
(d)
The Municipality shall not have the right to remove or reassign the
Worksite Employee unless mutually agreed to in writing by GovTemp and the
Municipality in accordance with Section 1.01;
(e)
The Municipality agrees that the Municipality shall pay no wages, salaries
or other forms of direct or indirect compensation, including employee benefits, to
Worksite Employee;
(f)
The Municipality shall report to GovTemp any injury to any Worksite
Employee of which it has knowledge within twenty-four (24) hours of acquiring such
knowledge. If a Worksite Employee is injured in the course of performing services for
the Municipality, the Municipality and GovTemp shall follow the procedures and
practices regarding injury claims and reporting, as determined by GovTemp. Upon
receipt of notification from GovTemp or its insurance carrier that an injured Worksite
Employee is able to return to work and perform "light duty," the Municipality shall
immediately make available an appropriate light duty work assignment for such Worksite
Employee to the extent required or permitted by any applicable law; and
(g)
The Municipality shall report all on-the-job illnesses, accidents and
injuries of the Worksite Employee to GovTemp within twenty-four (24) hours following
notification of said injury by employee or employee’s representative.
SECTION 3
FEES PAYABLE TO GOVTEMP
Section 3.01. Fees. The Municipality hereby agrees to pay GovTemp fees for the
services provided under this Agreement as follows:
#10143062_v3
3
(a)
The base compensation as fully identified on Exhibit A, as amended; plus
(b)
Any employee benefits GovTemp paid to the Worksite Employee as
identified on Exhibit B hereto, including, but not limited to, salary; wages; commissions;
bonuses; sick pay; workers’ compensation, health and other insurance premiums; payroll,
unemployment, FICA and other taxes; vacation pay; overtime pay; severance pay;
monthly automobile allowances, and any other compensation or benefits payable under
any applicable GovTemp pension and welfare benefit plan or federal, state or local laws
covering the Worksite Employee.
Section 3.02. Increase in Fees. GovTemp may increase fees to the extent and equal to
any mandated tax increases, e.g. FICA, FUTA, State Unemployment taxes when they become
effective. GovTemp may also adjust employer benefit contribution amounts by providing the
Municipality with a written thirty (30) day notice, provided, such changes in employer benefit
contribution amounts apply broadly to all GovTemp employees.
Section 3.03. Payment Method. Following the close of each month during the term of
this Agreement, GovTemp shall provide the Municipality a written invoice for the fees owed by
the Municipality pursuant to this Agreement for the prior month. Within thirty (30) days
following receipt of such invoice, the Municipality shall pay all invoiced amounts by check, wire
transfer or electronic funds transfer to GovTemp to an account or lockbox as designated on the
invoice.
SECTION 4
INSURANCE
Section 4.01. General and Professional Liability Insurance. The Municipality shall
maintain in full force and effect at all times during the term of this Agreement a Comprehensive
(or Commercial) General Liability and Professional Liability (if applicable) insurance policy or
policies (the "Policies"), with minimum coverage in the amount of $1,000,000 per occurrence,
$3,000,000 aggregate. At a minimum, the Policies shall insure against bodily injury and
property damage liability caused by on-premises business operations, completed operations
and/or products or professional service and non-owned automobile coverage.
Section 4.02. Certificate of Insurance. Upon request, the Municipality shall provide
GovTemp with one or more Certificates of Insurance, verifying the Municipality’s compliance
with the provisions of Section 4.01.
Section 4.03. Automobile Liability Insurance. If the Worksite Employee drives a
Municipal or personal vehicle for any reason in connection with his or her Assignment, the
Municipality shall maintain in effect automobile liability insurance which shall insure the
Worksite Employee, GovTemp and the Municipality against liability for bodily injury, death and
property damage.
#10143062_v3
4
SECTION 5
DURATION AND TERMINATION OF AGREEMENT
Section 5.01. Effective and Termination Dates. This Agreement shall become
effective on April 30, 2014 and shall continue in effect thereafter for a period of six (6) months
(until October 31, 2014), or until it is terminated in accordance with the remaining provisions of
this Section 5. For the purposes of the Agreement, the date on which this Agreement expires
and/or is terminated shall be referred to as the "Termination Date." Agreement may be extended
for up to six additional months (until April 30, 2015) with agreement between the parties.
Section 5.02. Termination of Agreement for Failure to Pay Fees. If the Municipality
fails to timely pay the fees required under this Agreement, GovTemp may give the Municipality
notice of its intent to terminate this Agreement for such failure and if such failure is remedied
within ten (10) days, the notice shall be of no further effect. If such failure is not remedied
within the ten (10) day period, GovTemp shall have the right to terminate the Agreement upon
expiration of such remedy period.
Section 5.03. Termination of Agreement for Material Breach. If either Party
materially breaches this Agreement, the non-breaching Party shall give the breaching Party
notice of its intent to terminate this Agreement for such breach and if such breach is remedied
within ten (10) days, the notice shall be of no further effect. If such breach is not remedied
within the ten (10) day period, the non-breaching Party shall have the right to immediately
terminate the Agreement upon expiration of such remedy period.
SECTION 6
NON-SOLICITATION
Section 6.01. Non-Solicitation. The Municipality acknowledges GovTemp's legitimate
interest in protecting its business for a reasonable time following the termination of this
Agreement. Accordingly, the Municipality agrees that during the term of this Agreement and for
a period of two (2) years thereafter, the Municipality shall not solicit, request, entice or induce
Worksite Employee to terminate his or her employment with the GovTemp, nor shall the
Municipality hire Worksite Employee as an employee.
Section 6.02. Injunctive Relief. The Municipality recognizes that the rights and
privileges granted by this Agreement are of a special, unique, and extraordinary character, the
loss of which cannot reasonably or adequately be compensated for in damages in any action at
law. Accordingly, the Municipality understands and agrees that GovTemp shall be entitled to
equitable relief, including a temporary restraining order and preliminary and permanent
injunctive relief, to prevent or enjoin a breach of Section 6.01 this Agreement. The Municipality
also understands and agrees that any such equitable relief shall be in addition to, and not in
substitution for, any other relief to which the GovTemp may be entitled.
Section 6.03. Survival. The provision of this Section 6 shall survive any termination of
this Agreement.
#10143062_v3
5
SECTION 7
DISCLOSURE AND INDEMNIFICATION PROVISIONS
Section 7.01. Indemnification by GovTemp. GovTemp agrees to indemnify, defend
and hold the Municipality and its related entities or their agents, representatives or employees
(the "Municipality Parties") harmless from and against all claims, liabilities, damages, attorney’s
fees, costs and expenses ("Losses") (a) arising out of GovTemp’s breach of its obligations under
this Agreement, (b) related to the actions or conduct of GovTemp and its related business
entities, their agents, representatives, and employees (the "GovTemp Parties"), taken or not taken
with respect to the Worksite Employees that relate to events or incidents occurring prior or
subsequent to the term of this Agreement, and (c) arising from any act or omission on the part of
GovTemp or any of the GovTemp Parties.
Section 7.02. Indemnification by the Municipality. The Municipality agrees to
indemnify, defend and hold the GovTemp Parties harmless from and against all Losses (a)
arising out of the Municipality’s breach of its obligations under this Agreement, (b) relating to
any activities or conditions associated with the Assignment, including without limitation, the
Worksite Employee workers’ compensation claims, and (c) arising from any act or omission on
the part of the Municipality or any of the Municipality Parties. Notwithstanding the foregoing,
the Municipality shall have no obligations to the GovTemp Parties under this Section with
respect to Losses arising out of events or incidents occurring before or after the term of this
Agreement.
Section 7.03. Indemnification Procedures. The Party that is seeking indemnity (the
"Indemnified Party") from the other Party (the "Indemnifying Party") pursuant to this Section 7,
shall give the Indemnifying Party prompt notice of any such claim, allow the Indemnifying Party
to control the defense or settlement of such claim and cooperate with the Indemnifying Party in
all matters related thereto; provided however that, prior to the Indemnifying Party assuming such
defense and upon the request of the Indemnified Party, the Indemnifying Party shall demonstrate
to the reasonable satisfaction of the Indemnified Party that the Indemnifying Party (a) is able to
fully pay the reasonably anticipated indemnity amounts under this Section 7 and (b) takes steps
satisfactory to the Indemnified Party to ensure its continued ability to pay such amounts. In the
event the Indemnifying Party does not control the defense, the Indemnified Party may defend
against any such claim at the Indemnifying Party’s cost and expense, and the Indemnifying Party
shall fully cooperate with the Indemnified Party, at no charge to the Indemnified Party, in
defending such potential Loss, including, without limitation, using reasonable commercial efforts
to keep the relevant Worksite Employee available. In the event the Indemnifying Party controls
the defense, the Indemnified Party shall be entitled, at its own expense, to participate in, but not
control, such defense. The failure to promptly notify the Indemnifying Party of any claim
pursuant to this Section shall not relieve such Indemnifying Party of any indemnification
obligation that it may have to the Indemnified Party, except to the extent that the Indemnifying
Party demonstrates that the defense of such action has been materially prejudiced by the
Indemnified Party’s failure to timely give such notice.
Section 7.04. Survival of Indemnification Provisions. The provisions of this Section 7
shall survive the expiration or other termination of this Agreement.
#10143062_v3
6
SECTION 8
ADDITIONAL PROVISIONS
Section 8.01. Amendments. This Agreement may be amended at any time and from
time to time, but any amendment must be in writing and signed by all of the Parties to this
Agreement, except for changes to the fees as set forth in Section 3.
Section 8.02. Binding Effect. This Agreement shall inure to the benefit of and be
binding upon the Parties and their respective heirs, successors, representatives and assign.
Neither Party may assign its rights or delegate its duties hereunder without the express written
consent of the other Party, which consent shall not be unreasonably withheld.
Section 8.03. Counterpart Execution. This Agreement may be executed and delivered
in any number of counterparts, each of which shall be an original, but all of which together shall
constitute one and the same instrument. This Agreement may be executed and delivered via
facsimile.
Section 8.04. Definitions. Terms and phrases defined in any part of this Agreement
shall have the defined meanings wherever used throughout the Agreement. The terms
"hereunder" and "herein" and similar terms used in this Agreement shall refer to this Agreement
in its entirety and not merely to the section, subsection or paragraph in which the term is used.
Section 8.05. Entire Agreement. This Agreement constitutes the entire agreement
between the Parties regarding GovTemp’s provision of Worksite Employee to the Municipality,
and contains all of the terms, conditions, covenants, stipulations, understandings and provisions
agreed upon by the Parties. This Agreement supersedes and takes precedence over all proposals,
memorandum agreements, tentative agreements, and oral agreements between the Parties, made
prior to and including the date hereof, and not specifically identified and incorporated in writing
into this Agreement. No agent or representative of either Party hereto has authority to make, and
the Parties shall not be bound by or liable for, any statement, representation, promise, or
agreement not specifically set forth in this Agreement.
Section 8.06. Further Assurances. Each of the Parties shall execute and deliver any
and all additional papers, documents, and other assurances and shall do any and all acts and
things reasonably necessary in connection with the performances of their obligations hereunder
and to carry out the intent of the parties hereto.
Section 8.07. Gender. Whenever the context herein so requires, the masculine,
feminine or neuter gender and the singular and plural number shall each be deemed to include
the other.
Section 8.08. Notices. Notices given under this Agreement shall be in writing and shall
either be served personally or delivered by certified first class U.S. Mail, postage prepaid and
return receipt requested or by overnight delivery service. Notices also may effectively be given
by transmittal over electronic transmitting devices such as Telex or facsimile machine if the
Party to whom the notice is being sent has such a device in its office, provided that a complete
copy of any notice shall be mailed in the same manner as required for a mailed notice.
#10143062_v3
7
Notices shall be deemed received at the earlier of actual receipt or three days from
mailing date. Notices shall be directed to the Parties at their respective addresses shown below.
A Party may change its address for notice by giving written notice to the other Party in
accordance with this Section:
If to GovTemp:
GOVTEMPUSA, LLC
650 Dundee Road, Suite 270
Northbrook, Illinois 60062
Attention: Joellen C. Earl
Telephone: 847-380-3240
Facsimile: 866-803-1500
If to the Municipality:
Village of Oswego
100 Parkers Mill
Oswego, IL 60543
Attention: Christina Burns
Telephone: 630-554-3618
Facsimile: 630-554-3306
Section 8.09. Section Headings. Section and other headings contained in this
Agreement are for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.
Section 8.10. Severability. If any part or condition of this Agreement is held to be void,
invalid or inoperative, such shall not affect any other provision hereof, which shall continue to be
effective as though such void, invalid or inoperative part, clause or condition had not been made.
Section 8.11. Waiver of Provisions. The failure by one Party to require performance by
the other Party shall not be deemed to be a waiver of any such breach, nor of any subsequent
breach by the other Party of any provision of this Agreement. Such waiver shall not affect the
validity of this Agreement, nor prejudice either Party’s rights in connection with any subsequent
action. Any provision of this Agreement may be waived if, but only if, such waiver is in writing
signed by the Party against whom the waiver is to be effective.
Section 8.12. Confidentiality. Each Party shall protect the confidentiality of the other’s
records and information and shall not disclose confidential information without the prior written
consent of the other Party. Each Party shall reasonably cooperate with the other Party regarding
any Freedom of Information Act (FOIA) request calling for production of documents related to
this Agreement.
Section 8.13. Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of Illinois applicable to contracts made and to be
performed entirely within such state, except the law of conflicts.
Section 8.14. Arbitration.
#10143062_v3
8
(a)
Negotiation/Arbitration Process. The parties will attempt to settle any
dispute arising out of or relating to this Agreement, or the breach thereof, through good
faith negotiation between the parties. If settlement cannot be reached through good faith
negotiation within thirty (30) days after the initial receipt by the allegedly offending party
of written notice of the dispute, the controversy or claim shall be settled by binding
arbitration conducted before a single arbitrator who is knowledgeable in employment
law. Either party may submit the dispute to arbitration. The arbitration will be
conducted in accordance with the then applicable rules and regulations of the American
Arbitration Association ("AAA"). The arbitration will be held in Cook County, Illinois.
The arbitrator shall be mutually agreed upon by the parties, but if they are unable to agree
on an arbitrator, the arbitrator shall be appointed by AAA. All arbitration proceedings
shall be closed to the public and confidential. All records relating thereto shall be
permanently sealed, except as necessary to obtain court confirmation of the arbitrator's
decision.
(b)
Arbitration Award. The arbitrator will be bound by the terms and
conditions of this Agreement and shall have no power, in rendering his or her award, to
alter or depart from any express provision of this Agreement, and his or her failure to
observe this limitation shall constitute grounds for vacating the award. Except as
otherwise provided in this Agreement, the arbitrator shall apply the law specified in
Section 8.3. The arbitrator will not be empowered to award punitive damages except for
willful misconduct. The award of the arbitrator shall be final and binding upon the
parties and judgment upon the award may be entered in any court having jurisdiction
thereof.
[Signatures on following page]
#10143062_v3
9
IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be duly
executed as of the day and year first above written.
GOVTEMPUSA, LLC,
an Illinois limited liability company
By
Name: Joellen Cademartori Earl
Title: President/Co-owner
MUNICIPALITY
By
Name:
Title:
[Signature Page to Employee Leasing Agreement]
EXHIBIT A
Worksite Employee and Base Compensation
WORKSITE EMPLOYEE: Thomas Pahnke
POSITION/ASSIGNMENT: Interim Building and Zoning Official
BASE COMPENSATION:
$49.00 for hours worked only. Hours are expected to be
fourty (40) per week but may change depending upon the needs of the Village. Any
change in the regular hours (40) shall be communicated via email to
[email protected] by the close of business on the Monday after the prior work
week. The Municipality will be invoiced every other week and payment may be remitted
via check or ACH.
GOVTEMPUSA, INC.:
MUNICIPALITY:
By:
By:
Date:
Date:
This Exhibit A fully replaces all Exhibits A dated prior to the date of the Company’s signature
above.
Exhibit A-1
EXHIBIT B
Summary of Benefits
Not applicable.
#10143062_v3
Exhibit B-1
EXHIBIT A
Worksite Employee and Base Compensation
WORKSITE EMPLOYEE: Thomas Pahnke
POSITION/ASSIGNMENT: Interim Building and Zoning Official
POSTION TERM:
Three Month Extension: November 1, 2014-March 31, 2015, with
the option to extend for 30 day periods thereafter, until the permanent position has been
filled.
BASE COMPENSATION:
$49.00 for hours worked only. Hours are expected to be
fourty (40) per week but may change depending upon the needs of the Village. Any
change in the regular hours (40) shall be communicated via email to
[email protected] by the close of business on the Monday after the prior work
week. The Municipality will be invoiced every other week and payment may be remitted
via check or ACH.
GOVTEMPUSA, INC.:
MUNICIPALITY:
By:
By:
Date:
Date:
This Exhibit A fully replaces all Exhibits A dated prior to the date of the Company’s signature
above.
www.oswegoil.org
AGENDA MEMORANDUM
TO:
CC:
FROM:
DATE:
October 13, 2014
AGENDA:
October 21, 2014
SUBJECT:
Minor Amendment to the Final PUD (Oswego Commons)
2840 Route 34, Vyomesh Desai (TCBY)
Project #876.14
Purpose:
To review a request for a minor amendment to the Oswego Commons PUD to allow a wall sign
that does not conform to the allowed building sign criteria for Minor Tenants within the
development.
Background:
Date
November 22, 2004
October 2, 2012
Action
Approved Final Plat by Ordinance #04-104
Approved additional signage for Verizon Wireless
by Ordinance #12-61.
The applicant, Vyomesh Desai (TCBY), is requesting a minor amendment to the Oswego
Commons PUD to allow a wall sign on the rear building elevation for the existing TCBY frozen
yogurt business at 2840 Route 34. The Zoning ordinance allows for signage on building facades
where a public entrance exists, or where fronting on a public right of way. Further, the Oswego
Commons PUD requirements allow wall signs to conform to the following sign criteria (per
Ordinance 01-23):
Project #876.14
October 13, 2014
Page 2
The proposed sign is of a different style, consisting of a cabinet style frame design.
Discussion:
The proposed sign does not meet the PUD zoning criteria of utilizing individual channel
lettering, or the zoning ordinance limitation as to placement. The size of the sign conforms to a
limitation of 1 square foot of signage per 1 lineal foot of tenant space. The tenant space is 22
feet in width, whereas the proposed sign is 20 square feet.
The applicant has expressed his goal of adding visibility for his business, and minimizing costs
of added signage, and therefore is requesting this signage to address those issues.
Per staff review of this proposal, the first modification requested would allow for signage on the
rear façade of the building. The Village has allowed signage on rear facades in such large PUDs
where said facade faces a circulator drive within the development with a restriction of being no
greater than 24 inches in height, and therefore we feel that it would be consistent with prior
actions to grant an amendment for the placement of signage on the rear façade in this case.
Regarding the type of sign proposed, we believe the intent of the regulations is to maintain
consistency among the development, and therefore we do not believe that the granting a cabinet
style sign would further this intent, and therefore are not in support of this style of sign.
Staff recommends denial of the petitioner’s proposal but recommends approval of a sign on the
rear of the building consistent with other signage approvals within the Oswego Commons
development consisting of individual letters no greater than 24 inches in height.
The Plan Commission is not required to review requests for Minor Amendments.
Funding:
Not Applicable
Project #876.14
October 13, 2014
Page 3
Recommendation:
Staff recommends denial of the request as proposed.
However, in the alternative, staff is presenting the First Read of the Ordinance approving a
minor amendment to the Oswego Commons PUD allowing a wall sign on the rear façade at
2840 Route 34 that conforms to the PUD sign regulations (individual lettering). Staff
recommends waiving the second read of the ordinance and approving the minor
amendment.
Strategic Plan Objectives:
Not Applicable
VILLAGE OF OSWEGO
(2840 US Route 34 – Vyomesh Desai/TCBY)
ADOPTED BY
OF THE
VILLAGE OF OSWEGO
This _______ day of _____________, 2014
Prepared by and Return to:
Village of Oswego
100 Parkers Mill
Oswego, IL 60543
and Board of Trustees of the Village of Oswego on ___________ 2014.
Page 1
to incur debt; and
WHEREAS, Vyomesh Desai/TCBY has submitted a request to amend the Final Planned Unit
Development (PUD) for the property generally located near the intersection of Pearce’s Ford and US
Route 34 commonly known as 2840 US Route 34, to allow a wall sign on the rear façade; and
WHEREAS, the Final PUD was approved on June 12, 2006 by Ordinance No. 06-69; and
WHEREAS, the property is currently zoned B-3 Community Service and Wholesale District and
is improved with a one-story commercial building.
Section 1:
That the recitals set forth above are incorporated here by reference, and the
application for a Minor Amendment by Vyomesh Desai/TCBY to allow a wall sign on the rear facade, is
approved. The Property is legally described on Exhibit "A", indicated on an accurate map identified as
Exhibit "B", and enumerated on the following Exhibits:
Exhibit “C” – Sign/Building Elevations, dated 5/5/14 (received 10/10/2014)
force and effect.
Page 2
Section 4: This Ordinance shall be in full force and effect immediately upon his passage and
day of ____, 2014.
TONY GILES
PAM PARR
GAIL JOHNSON
JUDY SOLLINGER
TERRY MICHELS
SCOTT VOLPE
Illinois this ____ day of ____, 2014.
Page 3
STATE OF ILLINOIS
)
)
COUNTY OF KENDALL )
SS
CLERK'S CERTIFICATE
____ day of _____________________ 2014.
IN WITNESS WHEREOF, I have hereunto set my hand this ____ day of
_____________________ 2014.
Village of Oswego
(Seal)
Page 4
EXHIBIT “A”
LOT 14 OF OSWEGO COMMONS, BEING A SUBDIVISION OF THE SOUTHEAST
QUARTER OF SECTION 9, AND THAT PART OF THE SOUTHWEST QUARTER OF THE
SECTION 10, AND IN THE PART OF THE NORTHEAST QUARTER OF SECTION 16,
ALL IN TOWNSHIP 37 NORTH, RANGE 8 EAST OF THE THIRD PRINCIPAL MERIDIAN,
KENDALL COUNTY, ILLINOIS, ACCORDING TO THE PLAT THEREOF RECORDED
APRIL 20, 2001 AS DOCUMENT NO.2001- 006694, AND CERTIFICATE OF
CORRECTION TO THE PLAT OF OSWEGO COMMONS, RECORDED MARCH 7, 2002 AS
DOCUMENT 2002-006006, IN THE VILLAGE OF OSWEGO, KENDALL COUNTY,
ILLINOIS.
Commonly known as: 2840 US Route 34, Oswego IL 60543
Exhibit B
2840 Route 34
106
US
Rt
e
34
2830
2840
2840
2842
2844
2848
2940
2942
2944
2946
2948
2850
2950
²
100
Feet
Overview
Proclamation
The Village of Oswego, Illinois
Founded in 1833
Veterans’ Day 2014
Honoring America’s Veterans
WHEREAS, the Village of Oswego proudly recognizes its veterans of war in
conjunction with National Veterans Day, observed on Tuesday, November 11, 2014; and
WHEREAS, the dedicated men and women who have served, and those presently
serving in the armed services, are especially honored for their loyalty and protection of all
citizens of the United States of America; and
WHEREAS, a groundbreaking ceremony was held on Flag Day, June 14, 2001, for the
Veterans Memorial Plaza, at the corner of Main and Jefferson Streets in downtown Oswego; and
WHEREAS, the Veterans Historical Walk featuring obelisks honoring to those who have
served in each war was dedicated on November 12, 2005; and
WHEREAS, the Oswego Veterans Memorial Plaza and Historical Walk, are dedicated to
all men and women who served our country in time of need and who will serve in the future; and
WHEREAS, it is fitting that the recurring anniversary of this date should be
commemorated with thanksgiving and prayer and exercises designed to perpetuate peace through
good will and mutual understanding between nations.
NOW, THEREFORE, I, Brian LeClercq, President of the Board of Trustees of the
Village of Oswego, Kendall County, Illinois, do hereby proclaim November 11, 2014 as
VETERANS’ DAY
In the Village of Oswego and urge all citizens to observe the week of November 10 through 14,
2014, as a week honoring all Veterans. I further encourage all residents to recognize the valor
and sacrifice of our veterans; to participate in patriotic activities in our community; and to
display the flag of the United States of America.
DATED this 21st day of October, 2014.
_______________________________________
Brian LeClercq, Oswego Village President
Attest:
___________________________

notice and agenda - Village of Oswego

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