Illinois Valley Times

The Streator City Council met Oct. 26 to issue general obligation bonds.

Here is the meeting's agenda, as provided by the council:

"The City of Streator has one elected Mayor and four elected Council Members who hold open meetings each month to make laws, policies and other related decisions and discussions."

SPECIAL MEETING

NOTICE & AGENDA

OF THE CITY COUNCIL

OF THE CITY OF STREATOR

CITY COUNCIL CHAMBERS

204 SOUTH BLOOMINGTON STREET

STREATOR, ILLINOIS 61364

WEDNESDAY, OCTOBER 26, 2016

1:30 P.M.

CALL TO ORDEREW

ROLL CALL

PUBLIC COMMENT

OLD BUSINESS

NEW BUSINESS

1. PRESENTATION ON NORTHPOINT IMPROVEMENT PLAN

2. ORDINANCE 2015/16-____. AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE

ISSUANCE OF NOT TO EXCEED $1,700,000 GENERAL OBLIGATION REFUNDING BONDS

(ALTERNATE REVENUE SOURCE), SERIES 2016A, OF THE CITY OF STREATOR, LASALLE

AND LIVINGSTON COUNTIES, ILLINOIS, FOR THE PURPOSE OF REFUNDING CERTAIN

OUTSTANDING ALTERNATE BONDS OF SAID CITY, PROVIDING FOR THE PLEDGE OF

CERTAIN SALES TAXES TO THE PAYMENT OF THE PRINCIPAL AND INTEREST ON SAID

BONDS AND THE LEVY AND COLLECTION OF A DIRECT ANNUAL TAX SUFFICIENT TO

PAY THE PRINCIPAL AND INTEREST ON SAID BONDS IF SAID PLEDGED REVENUES ARE

INSUFFICIENT TO MAKE SUCH PAYMENT, AUTHORIZING THE SALE OF SAID BONDS TO

ROBERT W. BAIRD & CO. INCORPORATED, AND DIRECTING THE EXECUTION OF AN

ESCROW LETTER AGREEMENT IN CONNECTION WITH THE ISSUANCE OF SAID BONDS.

3. ORDINANCE 2015/16-____. AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE

ISSUE OF NOT TO EXCEED $2,500,000 GENERAL OBLIGATION BONDS (ALTERNATE

REVENUE SOURCE), SERIES 2016B, OF THE CITY OF STREATOR, LASALLE AND

LIVINGSTON COUNTIES, ILLINOIS, FOR THE PURPOSE OF PAYING THE COSTS OF

ELIGIBLE REDEVELOPMENT PROJECTS WITHIN THE CITY’S NORTHPOINT TIF

DISTRICT REDEVELOPMENT PROJECT AREA, PROVIDING FOR THE PLEDGE OF

CERTAIN TIF REVENUES TO THE PAYMENT OF PRINCIPAL AND INTEREST ON THE

BONDS AND THE LEVY OF A DIRECT ANNUAL TAX TO PAY SUCH PRINCIPAL AND

INTEREST IF THE PLEDGED REVENUES ARE INSUFFICIENT TO MAKE SUCH PAYMENT,

AND AUTHORIZING THE SALE OF SAID BONDS TO ROBERT W. BAIRD & CO.

INCORPORATED

ADJOURNMENT