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* -'-j;. ^WFWgg PACE 4PLAINDfcALER .FRIDAY._NOVF.MBEE 2.197* I Nolle* Ordinance No. 7*0-16 A N O R D I N A N C E w for borrowing and issuing bonds of ~ |e of Lakemoor, County. Illinois, . t the amount of $15,000 for new sewerage coikictHsi system in and for said village, and providing for tbe levy and collection of a direct annual tax for the payment of the principal and interest of said bonds. WHEREAS, the President id Board of Trustees of the. proper signatures their respective facsimile signatures on said coupons. 3. That the bonds authorized shall. be Village of Lakemoor, Mc! County, Illinois, b: ordinance adopted on F< lfc-4977, did call a auction to be held in Village of Lakemoor 118,1977, for the purpose itting to the electors of Village the following ION TO ISSUE 1,000 SEWER BONDS bonds in the amount 10,000 be issued by the tillage of Lakemoor, JMcHenry County, Illinois,-. «"fbr the purpose of paying a 4>art of the cost of -^constructing a new Ssewerage collection :>ystem m and for said •Village, such system to t'consist of lateral and "•interceptor sewers and ^pumping stations and necessary appurtenances, «aaid bonds to bear interest ;>t the rate of not to exceed eight per cent (8%) per ^annum? VMSnd 1WHEREAS, the President Board of Trustees of said i did cause proper notice election to be given by K notice thereof once IcHenry Plaindealer, ime being a newspaper a general circulation aid Village, there being newspaper published $in, said notice being shed not more than thirty ' diys nor less than fifteen days prior to the date of i election, which said notice > published did specify the ! where such election was held, the time of opening closing the polls, and the ion to be voted upon; and ,.IEREAS, the President 'Board of Trustees of said je by proper procc and spread upon found that aO le lirements in connection said election were duly )lied with and that a ity of the electors of said ?e voting at said election . lestion above referred in favor thereof; and IRE AS, the President Board of Trustees has stofore issued $160,000' Bonds, dated December . .and $25,000 Sewer Bonds i November 1,1978, of said amount, and it is sssary at this time to rw the remaining $15,000 of authorized amount and the bonds of said Village idence thereof: )W, THEREFORE, Be It lined by the President and 1 of Trustees of the Village smoor, McHenry County, i, as follows: ion 1. That it be and it is and determined that the Resident and Board of payable to bearer, provided, however, that such bonds may be subject to registration as to principal in the name of the holder on the books of the Treasurer of said Village, such registration to be evidenced by notation of said Treasurer upon the back of such bonds so registered. No bond so registered shall be subject to transfer except upon^auch books and similarly noted on the back thereof unless the last registration shall have been to bearer. Such registration of any of said bonds shall not, ever. affect the bility of the coupons ' to said bonds, but such ns shall continue ferable by delivery 4. That each of said bonds and the interest coup to be thereto attached in substantially the following form: (Form of Bond) UNITED STATES OF AMERICA STATE OF ILLINOIS COUNTY OF McHENRY VILLAGE OF LAKEMOOR SEWER BOND Number $ KNOW ALL MEN BY THESE PRESENTS, that the Village of Lakemoor, McHenry County. Illinois, hereby acknowledges itself to owe, and for value received promises to pay to bearer, or, if this bond be registered, then to the registered holder hereof, the sum of ONE THOUSAND DOLLARS ($1,000) on the first day of December, 19 together with interest on saia sum from the date hereof until paid at the rate of-- per cent ( ) per annum. payable on June 1, 1980 and semiannually thereafter on the first day of December and June in each year, upon presentation and surrender of the respective interest coupons nereto attached as they severally become due and payable. For the prompt payment of this bond, both principal and interest, as aforesaid, at maturity and the levy of taxes sufficient for that purpose the full faith, credit and resources of said Village are hereby irrevocably pledged. Both principal and interest are hereby made payable in lawful money of the United States of America at --, in , Illinois. This bond is one of a series of bonds aggregating the principal amount of Fifteen Thousand Dollars ($15,000) issued by said Village for the purpose of paying part of the cost of constructing a new sewerage collection system in and for said Village, pursuant to and in all respects in inee with the provisions and attested by said officiate, respectively, by their facsimile signatures, ana said officials by the execution hereof do adopt as and for their own proper signatures their respective facsimile signatures appearing on said coupons, all as of the first day of November.. 1979. President, Board of Trustees, Village of Lakemoor. McHtenry County, Illinois Attest: Village Clerk. Village of Lakemoor. McHenry County, Illinois (SEAL) (Form of Coupon) Number- $ - money derived from the sale of said bonds and deposited in the Construction Account, which is the account from which the cost of said project is to be paid, will be expended on or before December 1, I960, for the g the cost said date of the "Illinois Municipal Code," approved May 29, 1961,, and all acts amendatory thereof and supplementary thereto, and is authorized by a majority of the electors of said Village voting upon the •question at an election duly called, noticed, held and canvassed for that purpose in said Village, and in compliance with an ordinance duly passed by the President and Board of Trustees of said Village, Trustees of the Village of Lakemoor, McHenry County, approved by the President Illinois, has been authorized by thereof and published, in all a ."TO"1? ** dect°rs of respects as by law required, said Village voting on the if is hereby certified and estion at a special election recited that all acts, conditions question at a specie duly called, noticed, held and canvassed for that purpose to issue bonds of said Village in the amount of $200,000 for the purpose of paying part of the cost of constructing a new sewerage collection system in and for said Village. Section 2. That in order to raise the sum of $15,000 presently needed for said purpose of paying part of the cost of contracting a new sewerage collection system in McHennr County, Illinois, the sum of $15,000 and to evidence said loan negotiable coupon bonds of said village be issued. Said bonds shall each be designated "Sewer Bond," and be dated November l, 1979; shall be numbered from l to 15, inclusive, be of the denomination of $1,000 each; and shall mature serially on December l of the years and in the amounts and bearing interest per annum as follows: and things inquired • by the Constitution ana Laws of the State of Illinois to exist or to be done precedent to and in the issuance of this bond, did exist, have happened, been done and Srformed in regular and due rm and time as required by law- that the indebtedness of said Village of Lakemoor. represented by this bond and the issue of which it forms a part, and including all other indebtedness of said Village, howsoever evidenced and incurred, does not exceed any constitutional or statutory 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 said Village sufficient to pay the i iterest hereon as the same fa Is due and also to pay and discharge the principal hereof at maturity. This bond is subject to registration as to principal in older on I the name of the hoi the Principal Amount $ 2,000 3,000 4,000 6,000 Year of Maturity 1981 1982 1983 1984 Rate of Interest 7.00 % 7.00 % 7.00 % 7.00 ./. jt on said bonds shall be fable on June 1, 1980, and liannually thereafter on the j day of December and June each year, which said st payments to date of ity ot principal shall be •need by proper interest attached to each bond maturing on the dates tin provided, and both if and interest shall be i in lawful money of the States of America at National Bank in __ Illinois. The seal of I Village shall be affixed to of said bonds and said bonds shall be signed by the President and be attested bv the Clerk of said .Village and said coupons shailbesigned and attested by said officials respectively, by their respective f^.cs^imile signatures, and said officiate, by the execution of said bonds, shall adopt as and for their own books of the Village Treasurer, such registration to be evidenced by notation of such Treasurer on the back hereof, and after such registration no transfer hereof, except upon such books and similarly noted hereon, shall be valid unless the last registration shall have been to bearer. Registration hereof shall not affect the negotiability of the coupons hereto attached, which shall continue negotiable by delivery merely, notwithstanding .registration hereof. IN WITNESS WHEREOF, said Village of Lakemqor, McHenry County, Illinois, by its President and Board of Trustees, has caused its corporate seal to be hereunto affixed and this bond to be signed by the President of said Village and. attested by its Village Clerk and the coupons hereto attached to be signed oi On the first day of-- 19 , the Villa Lakemoor. McHenry County, Illinois, will pay to bearer Dollars ($ ") in lawful money of the United States of America at Illinois, for interest due that day on its Sewer Bond, dated November 1,1979, Ni Attest: President, Board of Trustees Village Clerk being within three (3) years following the date of issue of said bonds ; (3) That the foregoing is based upon consultation with Baxter k Woodman, who are the engineers employed by said Village to 7. supervise the construction of said project; (4) That work on the said project is expected to proceed with due diligence to completion; * (5) That said project has not been and is not expected to be sold or otherwise disposed of in whole or in part prior to the last maturity of said bonds; (6) That all of the proceeds of sale of said bonds are needed for the purpose for which said bonds are issued, including expenses incidental to such purpose (Form for Registration as to Principal) Date Si Registration Name of Registered Owner Village tare of surer Section 5. That for the purpose of providing the funds required to pay the interest on said bonds promptly when and as the same talis due and to [ and discharge the princiL thereof at maturity, there be and there is hereby levied upon all of the taxable property within said Village in each year while any of said bonds are outstanding a direct annual tax sufficient for that purpose; and that there be and there is hereby levied on all the taxable property in said Village, in addition to all other taxes, the following direct annua) tax, to wit: and to the issuance of said bonds; (7) That accrued interest received upon the sale of said bonds will be applied to the first interest due thereon and that/ the balance of the proceeds of sale of said bonds will be deposited in said Construction Account and applied to the costs of said project and of issuing said bonds; (8) That said Village has not accumulated ana does not expect to accumulate For the Year 1979 1980 1961 1982 1983 A Tax Sufficient to Produce the Sum of: $1,662.50 for principal and interest up to and including June 1,1981 $2,980.00 for interest and principal $3,805.00 for interest and principal $4,560.00 for interest and principal $6,210.00 for interest and principal That interest or principal coming due at any time when there are insufficient funds on hand to pay the same be paid promptly when due from current funds on hand in advancement of the collection of said taxes herein levied, and when said taxes shall have been collected reimbursement shall be made to said funds in the amounts thus advanced. Section 6. That forthwith, as soon as this ordinance becomes effective, a copy hereof certified by the Clerk of said Village, which certificate shall recite that this ordinance has been passed by the President and Board of Trustees of said Village, approved by the President, ana published, shall be filed with the COjunty Clerk of McHenry County, Illinois, which said official snail in and for each of the years 1979 to 1983, inclusive, ascertain the rate per cent required to produce the aggregate tax hereinbefore provided to be levied in each of said years, respectively, and extend the same for collection on the tax books against all of the taxable property situated within said Village, in connection with other taxes levied in each of said years, respectively, in and by said Village for general corporate purposes of said Village, ana in each of said years such annual tax shall be levied and collected by said Village in like manner as taxes for general corporate purposes for each of said years are levied and collected, and when collected such taxes shall be used solely for the purpose of paying principal and interest upon the bonds herein authorized when same mature. Section 7. That the funds derived from such levy be and the same are hereby appropriated and set aside for the sole and only purpose of paying principal Of and interest on said bonds when and as the same become due. That the funds derived from the sale of said bonds be and they are hereby appropriated and set aside for the purpose hereinbefore set out. he nroc of sale of the bonds will be used and devoted with due diligence for the purpose as provided herein, and the Village of Lakemoor further covenants and agrees with the purchasers and holders of the bonds herein authorized as follows: - (1) That said Village has incurred, or within six (6) months after the delivery of said bonds expects to incur, substantial binding obligations with respect to saia project, said binding obligations comprising contracts for the construction of said project in the amount of not less than $15,000. said amount being not less than 2% amounts of money in a fund to pay or to be held as respects ratified, approved and confirmed it being hereby in any manner interested, either directly or indirectly, in his own name or the name of any other person, association, trust or corporation, in the contract heretofore entered into between said Village and said purchaser for the purchase of said bonds. Section 10. That all ordinances, resolutions and orders, or parts thereof, in conflict herewith, be and the same are hereby repealed, and this ordinance shallbe in full force and effect upon its and publication, as by law. - APPROVED: * Richard J. Hyatt :--a - ' 2'.' Artists from all over Illinois, Kentucky, Missouri, Michigan, Wisconsin and Indiana will join with talented local artists to present a fascinating variety of displays during the sixth an­ nual Fall Festival of art to be presented by American Society of Artists, a national .mem­ bership organization, - at Crystal Point Mall, Rt. 14 and Main street, Crystal Lake, Saturday, Nov; 10, from 10 a.m. to 5:30 p.m. and Sunday, Nov. 11 from noon to 5 p.m. Art in Action will be included in the show with exhibitors demonstrating in various media, including watercolors, arcylics, and Old English scraper board. A woodcarver will demonstrate how he creates his unusual wood sculptures utilizing the natural grain of woods from around the world while you can see a woven and rope sculpture wall hanging being created. One can Board of Trustees ADOPTED: Oct 25, 1979 PUBLISHED: Nov.. 2. 1979 Attest: Pacita R. Morrison Village Clerk Trustee Connie O'Rourke moved and Trustee Edna Garbacz seconded the motion that said ordinance ad presented and read by he Village Clerk be adopted. After a . full discussion thereof, the President directed that the roll be called for a vote upon the motion to adopt the ordinance as read. Upon the roll being called the following Trustees voted AYE: Edna Garbacz, Walter J. Para, Harry Brady, Margaret Cougnlin. William Sinkler, Connie O'Rourke. The following Trustees voted NAY: none. Whereupon the President declared the motion carried and the ordinance adopted and henceforth did approve and sign the shme in open meeting and did direct tine Clerk to record the same in full in the records of the President and Board of Trustees of the Village of Lakemoor, McHenry County, Illinois. , Other business not pertinent to the adoption of said ordinance was duly transacted at said meeting. Pacita R. Morrison Village Clerk (Pub. Nov! 2,1979) The government's support price for milk was recently increased from $10.51 to $11.22 per hundredweight, according to Jim Lucas, county executive director of the McHenry County Agricultural Stabilization and Conservation Service (ASCS). The price is for manufacturing milk, with a milkfat content of 3.5 percent, produced in the year which began Oct. 1,-1979. The law requires that milk be supported at a level between 75 and 80 percent of parity to assure an adequate supply oi milk, Lucas said. This level must reflect changes in the cost of production and asfcure. producers adequate income to help them maintain production levels sufficient for now and the future. "We believe the* new support level will meet these criteria and assure adequate future milk production," he said. The higher support level is not expected to nave any ap­ preciable effect on consumer milk prices. The ASCS official said market prices ior butter and cheese are already above even have his or, if he silhouette created^ | Rare and unusual will be dem copper wheel glass on a 100-year and Tumani (royal Japanese silk art). Among the exhibitors will be Betty Odmark, McHenry, acrylics and sculpture and Ellen Jacobsen, Wonder Lake, silhouettes. \ Price mm*- i the new support price. However, in some locations non-fat dry milk prices are below the $11.22 support price. Under the dairy price support program, the government buys butter, cheese and non-fat dry milk to enable manufacturing plants, on the average, to pay producers at least the support price for their milk. it Don't brush your hair unless you have to. Brushing pulls end twists hsir, damaging its structure and splitting its ends. H l--I THE fMgas pump |u»n| percent of that portion of the cost of said project to be financed with the proceeds of said bonds; (2) That said Village expects that all of tne principal and interest on Said bonds, other than (a) , amounts expected to be f spent within thirteen (13) / months from the date of deposit thereof into such fund and (b) interest earned by such funds which is to be spent within twelve (12) months from date of receipts; and (9) That to the best of the knowledge and belief of the President and Board of Trustees of said Village, there are no facts, e s t i m a t e s o r circumstances that would materially change the c o n c l u s i o n s a n d representations set out in this Section and the expectations set out in this > Section are reasonable. The President and Board of Trustees also certify and further covenant with the purchasers and holders of said bonds from time to time outstanding that, so long as any of said bonds remain outstanding, moneys on deposit in any fund or account in connection with said bonds, whether or not such moneys were derived from the proceeds of the sale of said bonds or from any other sources, will not be used in a manner which will cause such bonds to be "arbitrage bonds" within the meaning of Section 103(c) of the Internal Revenue Code of 1954. as amended, and any lawful regulations promulgated or proposed therkinder, including P r o p o s e d T r e a s u r y Regulations Sections 1.103-13, 1.103-14 and 1.103-15, as the same presently exist, or may from time to time hereafter be amended, supplemented or revised. The President and Board of Trustees reserves the right, however, to make any investment of such moneys permitted by Illinois law if. when and to the extent that said Section 103(c) or regulations hereunder shall led or relaxed or shall be held void by final decision of a court of competent jurisdiction, but only if any investment made by virtue of such repeal, relaxation or decision would not, in the opinion of counsel of recognized in such matters, in making the interest on said bonds subject to federal income taxation. Section 9. That forthwith after this ordinance has become effective as provided by law, the bonds herein authorized shall be executed and delivered to the Treasurer of said Village, and be by him delivered to the purchaser thereof, namely, wauconda National Bank, in Wauconda, Illinois, upon receipt of the purchase price therefor, same to be not less than the par value of said bonds, phis accrued interest to date of delivery, contract for the sale of said bonds to said purchaser, heretofore entered into, be and the same is hereby in all The sparkplug is small compared to other compon­ ents of your car, but is es­ sential to good performance. Faulty plugs can cause the engine to "miss" and reduce mileage at the same time. Have plugs checked periodically and replace as needed. New plugs in a properly tuned car can save as much as 9% in gasoline usage. McHENRY OPTICIANS 1301 RIVERSIDE DR. -- McHENRY, ILL. -- (Across from the Fox Hole) • t bibi i«B-aa4o - ram imm-mzAt - ibibi 3B5SZ4Z • OVER 3,000 FIRST QUALITY FRAMES ON DISPLAY I ALL FRAMES METAL OR PLASTIC EACH ALL KIDS FRAMES METAL OR PLASTIC GLASSES WHILE WAIT! *S.V. ONLY SENIOR CITIZENS RECEIVE FREE FRAMES with Purchase of Lenses! Eyes Examined By Appointment Only! h let Us Show You Tiffany & DeLaRenta's FOR ONLY *16 OPEN DAILY 8:30 TO 5:30 SAT. 8:30 TO 4 WED. 8:30 TO 1 CLOSED SUNDAY owerwoo Here's a shrub offer beat around SALE that doesn't the bush! It's our annual fall sale of shrubs and evergreens. Buy any pre-dug plant in our >sales lot and its twin (or any other comparably priced shrub, highest price prevailing) for only ONE PENNY MORE! 'SALE IN OUR LAWN A GARDEN DEPARTMENT' Jobe's -- Bulk Tree & Shrub Spikes or Evergreen Spikes n.2 ran Lawn Food -- Milorganite •4" (40 Lb. Bag) Illinois Nurserymen's Professional Turf Food - 10,000 Sq. Ft. *13** 2 ran *13' Tahoe Red Fir Bark (2 Cu. Ft.) I9H 9 Cedar Shredded Bark Mulch (3 Cu. Fti ) All Cascade Bark (3 Cu. Ft.) •94B mm (Reg. $4.95) All Patio Stones - Lombard, Wausau and More 33% OFF Pla-Border - Green 20 Ft. *127* (Reg. $15.95) All Garden Tools and Hose 2B% OFF Volcanic Crater Rock (Red or Black) : .t-l.Vi-Cu. Ft, (Reg. $4.50) 1 cu. ft. ea. for I or mare each IO ea. for IO All Decorative Stone - Pink, Turquoise, Flamingo Quartz, Bi C. Pebbles, Merrimac • THB PHICl OP OWE Wyoming White (50Lbs.) S94B 9 Peat Moss (so Lbs.)- Garden Shop Special (Reg-. $2.19) Landscape Tlmbers-4 x6 x8 it. ie» Q (Reg. $9.95) SALE LIMITED TO SUPPLIES IN STOCKv- LIMITED SUPPLY ON ALL ITEMS - ALL ITEMS CASH AND CARRY OR DANK CHARGE" All Line Trimmers on Sale Tore, Tamper, Waad Eatar They Make Ideal Christmas Gifts" (Reg. $3.69) Hours: Mon.-Thurs. 9-6; Fri. 9-1; Sat. 9-5; Sun. 10-5 815-459-6200 owerwo Routes 14 A 176, Crystal Laka