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, 3 <br /> _ � � � � <br /> September 5, 1991 <br /> To: The Clerk of the Municipality Listed on Attached Exhibit A <br /> Re: Illinois Consolidated Association Pool <br /> Workin� Cavital ProAram � <br /> Dear Clerk: <br /> The members of the Illinois Development Finance Authority will be <br /> asked to approve an application to issue bonds or notes on behalf of <br /> not-for-profit 501(c)(3) organizations and other health care and social <br /> service providers throughout the State of Illinois, including but not <br /> limited to some or all of the borrowers identified on attached Exhibit <br /> A. The total amount of bonds to be issued on behalf of all prospective <br /> borrower(s) throughout the State of Illinois, including but not limited <br /> to some or all of the borrowers identified on attached Exhibit A, is now <br /> estimated at an amount not to exceed $500,000,000. The bond or note <br /> proceeds will be used by the borrower(s) for working capital, to provide <br /> temporary budget relief and enable each borrower to pay salaries and <br /> other operating costs, including but not limited to fees payable pursuant <br /> to Public Act 87-0013, to fund a reserve fund if deemed necessary or <br /> desirable, and to pay the costs of issuance. The bonds or notes to be <br /> issued under the program may be issued in one or more series, under one <br /> or more trust indentures and in one or more years and may be issued to <br /> refinance all or any portion of a prior series but not more than <br /> $500,000,000 in aggregate principal amount shall be issued and <br /> outstanding at any one time under all series under the program without <br /> further notice being given if then required by the Act referred to in the <br /> next paragraph. <br /> Following is the pertinent provision of Section 6.1 of the Illinois <br /> Development Finance Authority Act, Illinois Revised Statutes 1989, ch. <br /> 4E, g�r. 85�.�1 at sen, which describes one of the conditions that must <br /> be met before bonds (the statutory definition of which includes other <br /> forms of indebtedness) may be issued by the Authority: <br /> The Authority shall not issue any bonds relating to the <br /> cn��a9oo��,�e: financing of an industrial pro�ect located within the planning <br /> "._"`�`�sa°e and subdivision control 3urisdiction of any municipality <br /> ::.,-:e 38U <br /> ���3y� ,,,�,�a,ss�6c2,ey, unless: (1) notice, including a description of the proposed <br /> 3�z ,�3ssas pro3ect and the financing therefor, is submitted to the <br /> corporate authorities of such municipality; and (2) such <br /> DownstateOfflee: COTpOTfit.� authorities, within 45 days after mailing of the <br /> '°oEds`°Ey°��� notice, have failed to notify the Authority that the <br /> PO 90.397 <br /> ,,,a„�, ;,;,��,5 6z959 municipality has adopted a resolution disapproving the <br /> �,�g �9��3�a industrial pro3ect or have notified the Authority that the <br /> municipality has adopted a resolution approving the industrial <br /> Spring/feld Of/)cs: <br /> pro3ect. <br /> _�z s second srreer <br /> Spr�r,goa�d ,�6nas 62707 <br /> ��7.�24-54'3 <br /> Ch:caqo Fax <br /> 3�2 �93-6347 <br />