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File #:
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20-1693
Version:
1
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Name:
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Subsitution of Counsel
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Type:
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Miscellaneous Item of Business
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Status:
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Approved
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On agenda:
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2/27/2020
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Final action:
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2/27/2020
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Title:
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PROPOSED MISCELLANEOUS ITEM OF BUSINESS
Department: Office of the Chief Financial Officer
Summary: On 5/23/2019, the Board of Commissioners approved Ordinance 19-3122 authorizing the County to issue its tax-exempt private activity bonds in an amount not to exceed $14,000,000, for the purpose of financing costs of the construction and equipping of the Plum Creek of Markham SLF Project. Ordinance 19-3122 grants the County and the Chief Financial Officer authorization to execute the Indenture of Trust Agreement, Loan Agreement, Land Use Restriction Agreement, Tax Exemption Certificate and Agreement, and Bond Purchase Agreement. The Indenture of Trust Agreement approved by the Board provided for the various firms to be utilized in the issuance of the County of Cook, Illinois Multifamily Housing Revenue Bonds (Plum Creek of Markham SLF Project), Series 2019, Private Activity Bond issuance. The Office of the Chief Financial Officer has been informed that the previously approved Bond Co...
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Indexes:
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(Inactive) AMMAR RIZKI, Chief Financial Officer, Bureau of Finance
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title
PROPOSED MISCELLANEOUS ITEM OF BUSINESS
Department: Office of the Chief Financial Officer
Summary: On 5/23/2019, the Board of Commissioners approved Ordinance 19-3122 authorizing the County to issue its tax-exempt private activity bonds in an amount not to exceed $14,000,000, for the purpose of financing costs of the construction and equipping of the Plum Creek of Markham SLF Project. Ordinance 19-3122 grants the County and the Chief Financial Officer authorization to execute the Indenture of Trust Agreement, Loan Agreement, Land Use Restriction Agreement, Tax Exemption Certificate and Agreement, and Bond Purchase Agreement. The Indenture of Trust Agreement approved by the Board provided for the various firms to be utilized in the issuance of the County of Cook, Illinois Multifamily Housing Revenue Bonds (Plum Creek of Markham SLF Project), Series 2019, Private Activity Bond issuance. The Office of the Chief Financial Officer has been informed that the previously approved Bond Counsel, Pugh Jones & Johnson P.C., has exited the municipal finance practice. As such and in accordance with Section 34-202 of the Cook County Code of Ordinances, the Chief Financial Officer respectfully requests approval to modify the Indenture of Trust Agreement to substitute Miller Canfield and Burke, Warren, MacKay & Serritella, P.C. as Co-Bond Counsel in this matter.
end
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