06/30/1980 Special Meeting1
CALL TO ORDER:
ROLL CALE:
SPECIAL
MEETING
NOTICE
ORDINANCE
M-28-80
Mortgage
Revenue Bonds
362.
MINUTES OF THE SPECIAL MEETING OF
THE CITY COUNCIL OF THE CITY OF
DES PLAINES, ILLINOIS, HELD IN
THE COUNCIL CHAMBERS, CIVIC CENTER,
MONDAY, June 30, 1980
The Special Meeting of the City Council of the City of Des
Plaines was called to order by Mayor Herbert H. Volberding
at 7.:25 P.M. in the Council Chambers, Des Plaines Civic
Center, on Monday, Juip' 30, 1980
V v iJ e,
Roll Call indicated the following aldermen present:
Koplos, Kolinski, Ensign, Whetstone, Prellberg, Kisslinger,
Birchfield, Erbach, Tomaszewski, Sarlo, Meyer, Seitz.
Absent were: Aldermen Dwiel, Kehe, Ward, and Egan
Mayor announced that notice of Special Meeting was sent
by his office on June 25, 1980, as follows:
"A Special Meeting will be held at 7:15 P.M., Monday,
June 30, 1980, to consider passage of an ordinance regarding
legal aspects of mortgage redevelopment bonds for single
family dwellings."
The Clerk read Ordinance M-28-80, AN ORDINANCE AUTHORIZING
PROVISION FOR RESIDENTIAL MORTGAGE FINANCING; PROVIDING
FOR THE ISSUANCE OF REVENUE BONDS THEREFOR ON BEHALF OF THE
CITY OF DES PLAINES; DESIGNATING FINANCIAL ADVISOR AND
BOND COUNSEL IN CONNECTION THEREWITH; ESTABLISHING
PROCEDURES AND TAKING OTHER ACTIONS WITH RESPECT THERETO.
With City Council concurrence, Mr. Edward Benjamin of
Benjamin & Lang, Inc. addressed the City Council explaining
that in his opinion and that of Chapman and Cutler, it
would be to the City's advantage to pass legislation
showing intent previous to action taken by Congress on or
about July 2, 1980, relative to Mortgage Revenue Bonds.
Moved by Koplos, seconded by Seitz, to waive First Reading
and Place on passage Ordinance M-28-80, filling the blank
amount to read $50,000,000.00. Motion declared carried.
Moved by Koplos, seconded by Seitz, to pass Ordinance
M-28-80. Upon roll call, the vote was:
AYES: - 12 - Koplos, Kolinski, Ensign, Whetstone, Prellberg,
Kisslinger, Birchfield, Erbach, Tomaszewski,
Sarlo, Meyer, Seitz
NAYS: 0 - None
ABSENT: 4 - Dwiel, Kehe, Ward, Egan
Motion to pass Ordinance M-28-80 declared carried.
ADJOURNMENT: Moved by Erbach, seconded by Sarlo, that the Special
Meeting of the City Council adjourn. Meeting aourned
at 7:42 P.M. Motion declaredca r'ed.
APPROVED BY ME THIS
HERBERT H. VOLBERDING, SR.
11
Bertha Eleanor rohrbach, City
Clerk