South Cook News

City of Palos Heights City Council met July 16

Here are the minutes provided by the council:

I. CALL TO ORDER

The Mayor called to order the Public Hearing of the City Palos Heights City Council at 6:30 p.m. in the City Administrative Center, 7607 W. College Drive, Palos Heights, IL

II. PUBLIC HEARING ISSUE

The City of Palos Heights will hold a Public Hearing on July 16, 2024 at 6:30 PM in the City Council Chambers at City Hall, 7607 West College Drive, Palos Heights, Illinois 60463, to discuss the possible issuance by the Issuer of its revenue bonds (the “Bonds”), in one or more series, which may be issued on the same or different dates, in connection with a plan of finance and in a principal amount currently estimated not to exceed $20,000,000 pursuant to the Industrial Project Revenue Bond Act, 65 ILCS 5/11-74-1 et seq., as supplemented and amended (the “Project Revenue Bond Act”), and the Local Government Debt Reform Act, 30 ILCS 350/1 et seq., as supplemented and amended (the “Debt Reform Act” and, collectively with the Project Revenue Bond Act, the “Act”). The Bonds will be issued as qualified 501(c)(3) bonds under Section 145 of the Internal Revenue Code of 1986, as amended.

III. PRESENT:

Mayor Robert Straz Ward 1 Donald Bylut

City Clerk Shannon Harvey Ward 2 Robert Basso & Alderman Clifford

City Treasurer James Daemicke Ward 3 Brent Lewandowski

City Attorney Tom Brown Ward 4 Jerry McGovern & Michael McGrogan

*Absent: Alderman Heather Begley & Jeffery Key

IV. PUBLIC HEARING/COMMENT:

Present on behalf of Trinity Christian College were Attorney Tim Green, attorney for Trinity Christian College, the President of Trinity, Dr. Aaron Kuecker’s Chief of Staff Jeanine Mozie and Matt Ingersoll, Tax and Bond Counsel.

Mr. Green noted that the purpose of the bond is to refinance existing bonds. The bonds were originally used to upgrade the campus on a number of projects over the past twenty years. Further it also provided additional capital funds to the campus. There is no legal liability to the City of Palos Heights. Alderman McGovern noted that Trinity is a great member and part of the Palos Heights community.

The Public provided no further comment.

V. ADJOURNMENT:

At 6:35 p.m. the Mayor adjourned the Public Hearing.

https://palosheights.org/AgendaCenter/ViewFile/Agenda/_08062024-1039