Title
ORDINANCE PROVIDING FOR THE ISSUANCE OF NOT TO EXCEED $15,000,000 GENERAL OBLIGATION UNLIMITED TAX REFUNDING BONDS
(PERSONAL PROPERTY REPLACEMENT TAX 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 $15,000,000 General Obligation Unlimited Tax Refunding Bonds, Series 2023D (the "Series 2023D PPRT ARS Refunding Bonds") for the purpose of refunding certain outstanding debt obligations of the District. The ordinance also authorizes the execution of a bond order prescribing the details of the Series 2023D PPRT ARS Refunding Bonds, including the designation of the Series 2023D PPRT ARS Refunding 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 the costs of issuance on the Series 2023D PPRT ARS Refunding Bonds, and the collection of direct annual taxes for the payment of the principal of and interest on the Series 2023D PPRT ARS Refunding 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 2023D PPRT ARS Refunding Bonds.
II. Transaction Team
Bond Counsel: Chapman and Cutler LLP
320 South Canal Street
Chicago, Illinois 60606
Underwriters' Counsel: Burke Burns & Pinelli, Ltd.*
70 West Madison Street
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