Office of the City Clerk - Record #: O2011-3416

• Record #: O2011-3416
• Type: Ordinance
• Status: Passed
• Intro date: 4/13/2011
• Current Controlling Legislative Body: Committee on Finance
• Final action: 5/4/2011
• Title: Issuance of 2011 General Obligation Tender Notes, inducement language, and amendments to current financing
• Sponsors: Daley, Richard M.

Date	Journal Page Number	Action By	Action	Result
5/12/2011		City Council	Published in Special Pamphlet
5/10/2011		Office of the Mayor	Signed by Mayor	Pass
5/4/2011	116306	City Council	Passed	Pass
5/2/2011		Committee on Finance	Recommended to Pass
4/13/2011	114359	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RICHARD M. DALEY
MAYOR
April 13,2011
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request of the Chief Financial Officer, 1 transmit herewith an ordinance authorizing an issuance of 2011 general obligation tender notes, inducement language, and amendments to current financing.
Your favorable consideration of this ordinance will be appreciated.
Very truly yours,

|1010|ORDINANCE
WHEREAS, the City of Chicago (the "City") is a body politic and corporate under the laws of the State of Illinois and a home rule unit of local government under Article VII of the Illinois Constitution of 1970; and
WHEREAS, the City Council of the City (the "City Council") adopted the annual appropriation ordinance of the City for the year 2011 and the annual tax levy ordinance of the City for the year 2011; and
WHEREAS, the City has determined that it is desirable and in the public interest to issue notes of the City to provide funds to pay amounts appropriated for specific purposes by the City for the year 2011; and
WHEREAS, it is necessary for the City to issue its obligations for the additional purposes hereinafter provided, such borrowing being for proper public purposes and in the public interest; and
WHEREAS, the City by virtue of its constitutional home rule powers and all laws applicable thereto, has the power to issue such obligations; and
WHEREAS, the City has heretofore authorized the issuance of its general obligation bonds and notes and has established a commercial paper program authorizing the issuance of its general obligation commercial paper from time to time; and
WHEREAS, the City's general obligation bonds and notes currently outstanding and its general obligation commercial paper currently or hereafter outstanding from time to time (collectively, the "Outstanding Indebtedness") are subject to the terms provided in the respective proceedings authorizing the Outstanding Indebtedness, which th...