TITLE
ORDINANCE PROVIDING FOR THE ISSUANCE OF
NOT-TO-EXCEED $6,000,000 GENERAL OBLIGATION UNLIMITED
TAX BONDS, SERIES 2023
(HARBOR FACILITIES REVENUES ALTERNATE REVENUE SOURCE)
Body
To: The Honorable Board of Commissioners of the Chicago Park District
I. Recommendation
It is recommended that the Board of Commissioners (the "Board") of the Chicago Park District (the "District") adopt an ordinance to authorize and provide for the issuance and delivery of bonds in an aggregate amount not to exceed $6,000,000 General Obligation Unlimited Tax Bonds, Series 2023F (Harbor Facilities Revenues Alternate Revenue Source (the "Series 2023F Harbor Bonds") for the purpose of financing the improvement of the recreational harbor facilities of the District by the improvement of the District's existing harbor facilities including, piers, docks, boat launching, mooring, docking, storing and repairing facilities, IT equipment, appurtenances and all other costs related to the harbor and marina improvements.
The ordinance also authorizes the execution of a bond order prescribing the details of the Series 2023F Harbor Bonds, including the designation of the series of the Series 2023F Bonds Harbor Bonds, the execution of a Bond Purchase Agreement with the underwriters identified below, the execution of a Continuing Disclosure Undertaking to effect compliance with Rule 15c2-12 of the Securities and Exchange Commission, the payment of capitalized interest and costs of issuance on the Series 2023F Bonds Harbor Bonds, and the collection of revenues for the payment of the principal and interest on the Series 2023F Bonds Harbor Bonds. The General Superintendent and other officers of the District are authorized to do, or cause to be done, all things necessary to accomplish the issuance of the Series 2023F Bonds Harbor Bonds.
II. Transaction Team
Bond Counsel: Chapman and Cutler LLP
320 Sout...
Click here for full text