Board of Commissioners of Cook County - File #: 23-5720

• File #: 23-5720
• Version: 1
• Name: Extension of Maturity Date of PNC Revolving Line of Credit and Series 2014D and 2018 General Obligation Bonds
• Type: Ordinance
• Status: Approved
• File created: 11/6/2023
• In control: Finance Committee
• On agenda: 11/16/2023
• Final action: 12/14/2023
• Title: PROPOSED ORDINANCE AN ORDINANCE amending Master Bond Ordinance Number 11-O-69 adopted on the 27th day of July, 2011, Ordinance 14-3645 adopted on the 23rd day of July, 2014 and Ordinance 18-4879 adopted on the 17th day of October, 2018 all as previously amended, to authorize the County to extend the maturity date of the $125,000,000 authorized principal amount General Obligation Bonds, Series 2014D, the $50,000,000 authorized principal amount General Obligation Bonds, Series 2018 and any other Capital Project Bonds issued thereunder, to extend the revolving line of credit related thereto to finance capital projects, and approving a form of indenture amendment for such financing. WHEREAS, the Board of Commissioners (the "Board") of The County of Cook, Illinois (the "County"), heretofore adopted on the 27th day of July, 2011, Ordinance Number 11-O-69 entitled, "An Ordinance providing for the issuance of one or more series of General Obligation Bonds of The County of Cook, Illinois" (th...
• Sponsors: TONI PRECKWINKLE (President)

Date	Ver.	Action By	Motion	Result
12/14/2023	1	Board of Commissioners	approve	Pass
12/13/2023	1	Finance Committee
11/16/2023	1	Board of Commissioners	refer	Pass

title
PROPOSED ORDINANCE

AN ORDINANCE amending Master Bond Ordinance Number 11-O-69 adopted on the 27th day of July, 2011, Ordinance 14-3645 adopted on the 23rd day of July, 2014 and Ordinance 18-4879 adopted on the 17th day of October, 2018 all as previously amended, to authorize the County to extend the maturity date of the $125,000,000 authorized principal amount General Obligation Bonds, Series 2014D, the $50,000,000 authorized principal amount General Obligation Bonds, Series 2018 and any other Capital Project Bonds issued thereunder, to extend the revolving line of credit related thereto to finance capital projects, and approving a form of indenture amendment for such financing.

WHEREAS, the Board of Commissioners (the "Board") of The County of Cook, Illinois (the "County"), heretofore adopted on the 27th day of July, 2011, Ordinance Number 11-O-69 entitled, "An Ordinance providing for the issuance of one or more series of General Obligation Bonds of The County of Cook, Illinois" (the "Bond Ordinance"); and

WHEREAS, the Board amended the Bond Ordinance on the 7th day of September, 2011, pursuant to amending Ordinance Number 11-O-70 (the "First Amending Ordinance") entitled, "An Ordinance Amending Ordinance Number 11-O-69 adopted on the 27th day of July, 2011, by the Board of Commissioners of The County of Cook, Illinois;" and

WHEREAS, the Board further amended the Bond Ordinance on the 1st day of May, 2012, pursuant to amending Ordinance Number 12-O-21 (the "Second Amending Ordinance") entitled, "An Ordinance Amending Ordinance Number 11-O-69 adopted on the 27th day of July, 2011, as previously amended, to make technical clarifications and revisions regarding credit facilities and other variable rate debt instruments;" and

WHEREAS, the Board further amended the Bond Ordinance on the 16th day of October, 2012, pursuant to amending Ordinance Number 12-O-45 (the "Third Amending Ordinance") entitled, "An Ordinance Amending Ordinance Number 11-O-69 adopted o...