OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL MAYOR
November 13,2013
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request of the Chief Financial Officer, the Commissioner of Fleet and Facility Management, the Acting Comptroller and the Commissioner of Water Management, I transmit herewith an ordinance authorizing the Retrofit One transaction with the Chicago Infrastructure Trust and associated agreements.
Your favorable consideration of this ordinance will be appreciated.
Very truly yours,
Mayor
ORDINANCE
WHEREAS, the City of Chicago (the "City") is a home rule unit of local government under the 1970 Constitution of the State of Illinois and has the authority to promote the health, safety and welfare of its inhabitants, to furnish essential governmental services through its various departments and agencies and to enter into contractual agreements with units of local government for the purpose of achieving the aforesaid objectives; and
WHEREAS, the City established the Chicago Infrastructure Trust (the "CIT") by an ordinance adopted by the City Council of the City (the "City Council") on April 24, 2012, published at pages 23972 through 23988, inclusive, of the Journal of Proceedings of the City Council for such date (the "Original CIT Ordinance") to assist the City and its sister agencies, including the Board of Education of the City of Chicago, commonly known as Chicago Public Schools ("CPS"), in providing alternative financing and project delivery options for transformative infrastructure projects by attracting capital from diverse types of investors, demonstrating real risk transfer to third-party investors, and stimulating cross-agency financing while creating efficient capital structures; and
WHEREAS, the CIT has proposed to finance various energy-saving projects on behalf of the City as described on Exhibit A hereto (the "City Projects"); the financing by the CIT of the City Projects is referred t...
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