Public Hearing March 7, 2016 6:45 P.M.

Minutes of Public Hearing
Concerning the Intent of the Village of Burlington, Kane County,
Illinois to sell not to Exceed $400,000
General Obligation Alternate Revenue Bonds
at the Village Hall, 175 Water Street
March 7, 2016 at 6:45 p.m.

 

Open the Public Hearing: Village President Bob Walsh called the Public Hearing to order at 6:45 p.m.

Present: Village President Bob Walsh, Village Clerk Kimberly Tatu, Deputy Clerk Marilyn Diede, Village Attorney Steve Andersson and Village Attorney Jessica Briney. Village Treasurer Sally Eickhorst arrived at 6:47 p.m.

Roll Call: Trustees: Jim Daffron, Betty Reiser, Mary Kay Wlezen, Ernie Jackson, John Totemeier and Al Vonderlack were present.

Guests: Jeannie Mayer (Courier News).

President Walsh said Ordinance 2016-3 Calling a Public Hearing Concerning the Board of Trustees of the Village of Burlington, Kane County, Illinois to Sell Not to Exceed $400,000 General Obligation Alternate Revenue Bonds is the purpose of the this Public Hearing.

Village Attorney Steve Andersson said this Public Hearing is an opportunity for the Public to address the Board on this issue tonight. This is for the rehab of the Water Tower. It is not to exceed $400,000 in bonding authority. The appropriate notice of the Public Hearing was published in the Elgin Courier News

on February 18, 2016, February 19, 2016 and February 24, 2016 and the Certificate of Publication was supplied to the Village Clerk. In addition, appropriate notice of this Public Hearing has been posted in accordance with law. Attorney Andersson said the next step would be the passage of the Bond Ordinance. There is a 45 day waiting period because there is an opportunity for a back door referendum which would be the result of residents filing a petition because they do not want this. This could stop the process. He said if there is no filing and once the 45 day waiting period is over, the Village will pass the Bond Ordinance and then will be able to sell the bonds. In this case, there is the potential of Old Second Bank buying the whole project. Attorney Andersson said by having a set buyer (Old Second Bank) which is qualified to do it, the Village is saving tax payers a lot of money.

It was noted that there were no members of the Public present, therefore, none testified.

Trustee John Totemeier made a motion to close the Public Hearing and Trustee Ernie Jackson seconded the motion. Ayes: Trustees: John Totemeier, Ernie Jackson, Jim Daffron, Betty Reiser, Mary Kay Wlezen and Al Vonderlack. Six ayes, motion carried. The Public Hearing closed at 6:49 p.m.

Respectfully submitted,

 

Marilyn Diede

Deputy Clerk