Village of Cherry Valley Board of Trustees met Sept, 12.
Here are the minutes provided by the board:
PRESIDENT DAVID SCHROEDER CALLED THE VILLAGE BOARD MEETING TO ORDER AT 6:45 PM AND LED THE PLEDGE OF ALLEGIANCE.
A roll call was taken by Deputy Village Clerk Heather Riley:
Nancy Belt Absent
Mike Nevillle Present
Jeff Fustin Present
Brandi Pearse Present
Sally Hollembeak Present
Carl Wedig Present
Also present: Attorney David Kurlinkus, Village Administrator Jim Claeyssen, Village Treasurer Maureen Gumowski and Deputy Village Clerk Heather Riley.
ADOPTION OF THE AGENDA:
Trustee Hollembeak moved to approve the agenda. Trustee Neville seconded. All “AYE” none opposed. Motion carried by voice vote.
APPROVAL OF THE VILLAGE BOARD MINUTES:
Trustee Hollembeak moved to approve the August 22, 2022 Village Board Minutes. Trustee Neville seconded. All “AYE” None opposed. Motion carried by voice vote.
PUBLIC COMMENT: None.
TREASURER’S REPORT:
1. Treasurer Gumowski stated that revenues in the General Fund of $534,000 were lower than expenditures of $610,000 by $76,000. Expenditures were mainly Salary & Benefits ($520,000). Revenues of $122,000 were greater than expenditures of $79,000 in the Water Fund by $43,000. Expenditures were engineering for Well #7 drill and house ($26,000.00). In the Capital Improvements Fund, revenues of $73,000 were lower than expenditures of $177,000 by $104,000. Expenditures were the Genoa Street Sidewalk Project ($88,000), South Mill Storm Sewer Project ($72,000). Trustee Neville moved to have the August 2022 Treasurer’s Report placed on file with the minutes. Trustee Hollembeak seconded. All “AYE” none opposed. Motion carried by voice vote.
PRESIDENT’S REPORT:
1. Proclamation: U.S. Constitution Week. Trustee Hollembeak moved to adopt the Proclamation proclaiming September 17th – 23rd as Constitution Week in the Village of Cherry Valley. Trustee Fustin seconded. All “AYE” none opposed. Motion carried by voice vote.
Attorney’s Report: David Kurlinkus: No Report.
Administrator’s Report: Jim E. Claeyssen:
Village Administrator Claeyssen stated:
• A Winnebago County Judge has ruled in the Village’s favor regarding the lawsuit over the ownership of certain roads that actually do belong to Cherry Valley Township.
• IEPA approved our permit for Well #7 drilling.
Engineer’s Report: Sheri Kosmos, C.E.S.: No Report.
Jeff Fustin – Planning And Zoning Commission:
Trustee Fustin stated there will be a Planning & Zoning on September 21, 2022 and this is the only meeting that starts at 6:30 PM.
Brandi Pearse – Recreation Board: None.
ORDINANCE REPORT BY TRUSTEE MIKE NEVILLE:
1. Trustee Neville moved that the Village Board waive the rules and consider this the second and final reading of an Ordinance authorizing and providing for the issuance and sale of not to exceed $5,100,000 General Obligation Alternate Bonds (Waterworks System Alternate Revenue Source), series 2022, of the Village of Cherry Valley, Winnebago and Boone Counties, Illinois, for the purpose of paying the costs of improving the waterworks system of the village; providing for the collection, segregation and application of the revenues of the waterworks system of the village and the levy of a direct annual tax for the payment of principal of and interest on the series 2022 bonds; providing procedures for the abatement of such tax based on the availability of alternate revenues; delegating to authorized officers the authority to determine certain terms of the series 2022 bonds within parameters established in this ordinance; providing for the execution and delivery of a continuing disclosure undertaking in connection with the series 2022 bonds; and concerning related matters. Trustee Hollembeak seconded. A roll call vote was taken:
Nancy Belt Absent Mike Neville Aye
Jeff Fustin Aye Brandi Pearse Aye
Sally Hollembeak Aye Carl Wedig Aye
Motion carried 5-0-1.
Robert P. Vail, Director of Public Finance from Bernardi Securities, provided the Village Board with an update of the current market conditions, preliminary debt service repayment schedule and a preliminary financing timeline for the bond financing in regards to the village’s series 2022 Bond Issuance Ordinance. Mr. Vail addressed any questions board members had at this time. (His presentation will be filed with these minutes).
2. Trustee Neville moved that the Village Board pass and approve ORDINANCE 2022-39; “An Ordinance authorizing and providing for the issuance and sale of not to exceed $5,100,000 General Obligation Alternate Bonds (Waterworks System Alternate Revenue Source), series 2022, of the Village of Cherry Valley, Winnebago and Boone Counties, Illinois, for the purpose of paying the costs of improving the waterworks system of the village; providing for the collection, segregation and application of the revenues of the waterworks system of the village and the levy of a direct annual tax for the payment of principal of and interest on the series 2022 bonds; providing procedures for the abatement of such tax based on the availability of alternate revenues; delegating to authorized officers the authority to determine certain terms of the series 2022 bonds within parameters established in this ordinance; providing for the execution and delivery of a continuing disclosure undertaking in connection with the series 2022 bonds; and concerning related matters”. Trustee Hollembeak seconded. A roll call vote was taken:
Nancy Belt Absent Mike Neville Aye
Jeff Fustin Aye Brandi Pearse Aye
Sally Hollembeak Aye Carl Wedig Aye
Motion carried 5-0-1.
Trustee Neville stated that ORDINANCE passes.
Finance Report By Trustee Brandi Pearse: No Report.
Public Safety Report By Trustee Jeff Fustin: No Report.
Public Works Report By Trustee Mike Neville: No Report.
Planning And Development Report By Trustee Carl Wedig: No Report.
Personnel Report By Trustee Sally Hollembeak: No Report.
EXECUTIVE SESSION: None.
RECONVENE TO OPEN SESSION:
BOARD COMMENTS: None.
ADJOURNMENT:
Trustee Hollembeak moved that the meeting be adjourned at 7:01 PM. Trustee Neville seconded. All “Aye;” None opposed. Motion carried by voice vote.
http://www.cherryvalley.org/images/villiage-board/2022/BOARD%20MINUTES%2009-12-2022%20-%20SPECIAL.pdf
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