A RESOLUTION APPROVING THE ISSUANCE BY THE CITY OF AURORA, KANE, DUPAGE, WILL AND KENDALL COUNTIES, ILLINOIS OF ITS REVENUE BOND, SERIES 2020 (VNA HEALTH CARE), IN ONE OR MORE SERIES, AND IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $15,000,000 WITH RESPECT TO CERTAIN HEALTH CARE FACILITIES OF VNA HEALTH CARE LOCATED IN THE VILLAGE OF ROMEOVILLE, WILL COUNTY, ILLINOIS; AND APPROVING CERTAIN RELATED MATTERS.
WHEREAS, the City of Aurora, Kane, DuPage, Will and Kendall Counties, Illinois (the "Issuer") is a home rule unit of government under Section 6(a) of Article VII of the 1970 Constitution of the State of Illinois, and is authorized by its home rule powers to issue its revenue bonds to finance certain facilities; and
WHEREAS, pursuant to an ordinance duly adopted by the City Council of the Issuer on March 23, 1976, as supplemented and amended (the "Enabling Ordinance"), the Issuer is authorized to issue its economic development revenue bonds to finance the costs of any "project," as defined in the Enabling Ordinance, for the purposes set forth in the Enabling Ordinance; and
WHEREAS, VNA Health Care, an Illinois not-for-profit corporation (the "Corporation"), desires to (i) refinance certain taxable debt (the "Taxable Loan"), the proceeds of which were used to finance or reimburse the Corporation for the costs of certain health care facilities of the Corporation, (ii) pay a portion of the interest on the Bond, if deemed necessary or advisable by the City or the Corporation, and (iii) pay certain expenses incurred in connection with the issuance of the Bond; and
WHEREAS, the Issuer, at the request of the Corporation, is expected to issue its City of Aurora, Kane, DuPage, Will and Kendall Counties, Illinois Revenue Bond, Series 2020 (VNA Health Care), in one or more series, and in an aggregate principal amount not to exceed $15,000,000 (the "Bond"); and
WHEREAS, a portion of the proceeds of the Bond in a principal amount not to exceed ...
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