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86-103 AUTHORIZING THE ISSUANCE OF ECONOMIC DEVELOPMENT REVENUE BONDS (BRETTWOOD VILLAGE ASSOCIATES PROJECT) SERIES A & B
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86-103 AUTHORIZING THE ISSUANCE OF ECONOMIC DEVELOPMENT REVENUE BONDS (BRETTWOOD VILLAGE ASSOCIATES PROJECT) SERIES A & B
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8/26/2016 2:56:46 PM
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8/26/2016 2:56:45 PM
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Resolution/Ordinance
Res Ord Num
86-103
Res Ord Title
AUTHORIZING THE ISSUANCE OF ECONOMIC DEVELOPMENT REVENUE BONDS (BRETTWOOD VILLAGE ASSOCIATES PROJECT) SERIES A & B
Approved Date
12/15/1986
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WHEREAS, pursuant to the Enabling Ordinance, the City is <br /> authorized to issue its revenue bonds for the purpose of <br /> financing, in whole or in part, the costs of any "economic <br /> development project, " as defined in the Enabling Ordinance for <br /> the purpose of creating or retaining employment opportunities in <br /> the City; and <br /> WHEREAS, as a result of negotiations between the City and <br /> the Hrettwood Village Associates, an Illinois limited partnership <br /> ( the "Partnership" ) , of which Draper and Kramer , Incorporated is <br /> one of the general partners, the Partnership acquired a leasehold <br /> estate in and to an existing shopping center located in the City <br /> and known as Brettwood Village Shopping Center and entered into <br /> certain contracts and agreements providing for the renovation, <br /> reconstruction and equipping of the existing buildings <br /> (excluding, however , the store building leased to and occupied by <br /> the Great Atlantic & Pacific Tea Company, Inc. ) , parking lots and <br /> related facilities ( the "Project" ) , either directly or as sale <br /> beneficiary of that certain land trust agreement dated June 15, <br /> 1981 and known as Trust No. 104086 ( the "Land Trust" ) under which <br /> LaSalle National Bank, Chicago, Illinois, is acting as Trustee <br /> ( the "Land Trustee" ) , which Project constitutes an "economic <br /> development project" within the meaning of the Enabling Ordinance <br /> and is of the character and accomplishes the purposes provided by <br /> the Enabling Ordinance; and <br /> -2- <br />
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