RESOLUTION
TITLE
RESOLUTION EVIDENCING THE INTENTION OF THE VILLAGE OF ROMEOVILLE, WILL COUNTY, ILLINOIS, TO ISSUE INDUSTRIAL REVENUE AND SINGLE FAMILY MORTGAGE REVENUE BONDS AND RELATED MATTERS.
BODY
WHEREAS, the Village of Romeoville, Will County, Illinois (the "Issuer") is a municipality and a home rule unit of government under Section 6(a) of Article VII of the 1970 Constitution of the State of Illinois; and
WHEREAS, pursuant to the Constitution and the laws of the State of Illinois, and particularly its home rule powers (the "Enabling Act"), the Issuer is authorized to issue its revenue bonds to aid the financing of the costs of industrial projects, to the end that the Issuer may be able to relieve conditions of unemployment and to encourage the increase on industry within the Village of Romeoville, Illinois, thereby reducing the evils attendant upon unemployment and increasing the health, welfare and prosperity of the Village of Romeoville, Illinois; and
WHEREAS, the availability of decent, safe and sanitary housing that most people can afford is essential to retain and increase industrial and commercial activities and relieve conditions of unemployment in the Village of Romeoville, Will County, Illinois; and
WHEREAS, the shortage of decent, safe and sanitary housing that most people can afford is not transitory and self-curing; the cost of financing such housing is a major and substantial factor affecting the supply and cost of decent, safe and sanitary housing built by private enterprise; and the revenue bonds provided for in this resolution will substantially lower the cost of such financing; and
WHEREAS, pursuant to the Constitution and the laws of the State of Illinois, and particularly Section 6(a) of Article VII of the 1970 Constitution of the State of Illinois, the President and Village Board of the Issuer has the power to issue its revenue bonds to aid in financing the cost of mortgage loans for one to four fa...
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