Before the village issues industrial revenue bonds, pursuant to any application or petition, the President and Board of Trustees will require the following statements from various agents and employees and commissions of the village:
(A) A statement from the Village Attorney or corporation counsel, as the case may be, to the effect that he or she has reviewed or will review all documents pertinent to the application and bond issue and that they are satisfactory to the village;
(B) A statement from the village’s financial consultant, or bond counsel, as the case may be, to the effect that based upon the consultant’s study of the information supplied and from other available sources, nothing has come to his or her attention to indicate:
(1) The applicant is not in a position to undertake its commitment;
(2) It is inadvisable for the village to lend its name to the proposed project even though it does not thereby undertake any financial obligations;
(3) The Chairperson of the Village Plan Commission to the effect that the industry and proposal is in compliance with the village’s community plan that the industry would be an asset to the village; and
(4) A statement from the village’s Auditor to the effect that suitable arrangements have been made for the payment of all fees, costs and expenses incurred in behalf of the village.
(Prior Code, § 8-114)