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It is not necessary for the Village, proceeding under this Article, to obtain any certificate of convenience or necessity, franchise, license, permit, or other authorization from any bureau, board, commission, or other lay instrumentality of the State of Illinois in order to acquire, construct, purchase, reconstruct, improve, better or extend any industrial project or for the issuance of bonds in connection therewith. (1985 Code)
The powers conferred by this Article are in addition and supplemental to, and the limitations imposed by this Article shall not affect, the powers conferred by any other law. Industrial projects may be acquired, purchased, constructed, reconstructed, improved, bettered and extended, and bonds may be issued under this Article for such purposes, notwithstanding that any other law may provide for the acquisition, purchase, construction, reconstruction, improvement, betterment and extension of a like industrial project, or the issuance of bonds for like purposes, and without regard to the requirements, restrictions, limitation or other provisions contained in any other law. (1985 Code)
Any member of the corporate authority of the Village shall disclose any pecuniary interest in any employment, financing, agreement or other contract made under the provisions of this Article before any action by the President and Board of Trustees on it, and shall not vote on any such matter. Notwithstanding the provisions of any other law, any financing agreement or other contract made or procured in conformity with the provisions of this Section shall not be void by reason of the pecuniary interest of any member of the corporate authority of the Village therein; nor shall such person be subject to any penalty by reason of the making or procuring thereof. (1985 Code)
The Village shall charge a financing fee each time that bonds are issued by it as provided in this Article. Said fee shall be computed at the rate of ten dollars ($10.00) per thousand dollars ($1,000.00) of bonds for the first one million dollars ($1,000,000.00) of bonds issued; for bond issues exceeding one million dollars ($1,000,000.00), the Village shall charge an additional fee to be computed at the rate of five dollars ($5.00) per one thousand dollars ($1,000.00) of bonds issued in excess of one million dollars ($1,000,000.00). Financing fees shall be calculated on the principal amount of bonds issued at the time of the issuance of bonds by the Village. Financing fees shall be deemed reimbursement to the Village for its administrative costs in reviewing, evaluating and administering any bond issue and shall be a project cost in addition to those costs described in Section 10-1-1 of this Article. (1985 Code)
Any person requesting the Village to finance any project by issuance of its bonds shall make a nonrefundable deposit with the Village Clerk in the amount of one thousand dollars ($1,000.00), such amount being necessary to reimburse the Village for its preliminary expenses in investigating the desirability and feasibility of such financing. Upon the adoption of a resolution indicating the Village's preliminary agreement to issue a specific amount of bonds for the proposed project, an additional deposit equal to one-half (1/2) of the financing fee shall be paid to the Village, provided that the initial, nonrefundable deposit shall be allowed as a credit against said one-half (1/2) financing fee. Said deposits shall be disbursed by the Village in payment of the Village's expenses notwithstanding that financing is not completed; however, said deposits may be repaid as a project cost from the proceedings of any bonds issued to finance the project. (1985 Code)