Minutes of a special public meeting of the Township Board of Campton Township, Kane County, Illinois, held at the Community Center, in said Township at 7:30 p.m., on the 20th day of June 2006.

The meeting was called to order by the Supervisor, and upon the roll being called, Neal Anderson, the Supervisor, and the following Trustees of the Township Board, all being physically present at said location, answered present:  John Kupar, Tom Stutesman, and Kathleen Judy.
The following Trustees were absent:  Andrea Koppenhofer.

The Pledge of Allegiance was recited.

4.  New Business – Presentation and Discussion for Action:

     c. Review and Act Upon Accept Bid from Griffin, Kubik, Stephens, & Thompson, Inc. for Series 2006B G.O. Bonds:  David Phillips of Speer Financial Inc. stated the 2006B bond issue sale was based on $721,000,000 EAV (equalized assessed valuation) for 2005 before exemptions.  We didn’t know the EAV number the County released did not deduct for exemptions, such as the homestead exemption, which reduce the EAV.  The final EAV, after exemptions, was 691,000,000 which reduces the amount of money we can borrow.  The Bond Council discovered this error when comparing County figures with their figures.  The cost of unraveling this error is $3,700.  There are no other costs or penalties.  We will send the $3,700 back to the Township because we hold Campton Township harmless for the error.  We sold Series 2006B General Obligation bonds yesterday generating $5,060,000 for the Township at AA- credit rating.  We recommended the Township accept the bid of Griffin, Kubik, Stephens & Thompson, Inc., Chicago, Illinois, at a true interest rate of 4.149971%.   We will close July 11, 2006 on this bond issue.  John Kupar moved the Board accept the revised bid of Griffin, Kubik, Stephens & Thompson, Inc., Chicago, Illinois, at a true interest rate of 4.149971%, for the Campton Township $5,060,000 Tax Exempt General Obligation Bonds Series 2006B.  Tom Stutesman seconded the motion.  In a roll call vote on the motion Supervisor Anderson and Trustees Kupar, Stutesman, and Judy voted aye.  Trustee Koppenhofer was absent.  The motion passed. 

     d. Review and Act Upon Adopt Resolution Authorizing the Sale for Series 2006B: 

The Supervisor announced that the next item for consideration on the agenda was the issuance of the Township’s general obligation open space bonds and that the Township Board would consider the adoption of a resolution authorizing the sale of tax‑exempt Series 2006B Bonds, and the levy of a direct annual tax sufficient to pay the principal of and interest on the bonds. 

Whereupon Neal Anderson presented and Dave Phillips explained a resolution which was before the Township Board in words and figures as follows:

A Resolution authorizing the sale of $5,060,000 General Obligation Bonds, Series 2006B, of Campton Township, Kane County, Illinois, and the levy of a direct annual tax sufficient to pay the principal of and interest on said bonds.

Trustee Kathleen Judy moved and Trustee John Kupar seconded the motion that said Resolution as presented and read by the Township Clerk be adopted.

After a full discussion thereof, in the presence of a quorum at all times, including a public recital of the nature of the matter being considered and such other information as would advise the public of the business being conducted, the Supervisor directed that the roll be called for a vote upon the motion to adopt said Resolution as read.

Upon the roll being called, the following members of the Township Board voted:

Aye:   Neal Anderson, John Kupar, Tom Stutesman, Kathleen Judy.

Nay:  None.

Trustee Andrea Koppenhofer was absent for said vote.                  

Whereupon the Supervisor declared the motion carried and said Resolution adopted, approved and signed the same in open meeting and directed the Township Clerk to record the same in the records of the Township Board of Campton Township, Kane County, Illinois, which was done.

5.  Executive Session – Personnel Issues:  K. Judy moved the Board go into Executive Session to discuss personnel issues.  T. Stutesman seconded the motion.  In a roll call vote Supervisor Anderson and Trustees Kupar, Stutesman, and Judy voted aye.  Trustee Koppenhofer was absent.  The motion passed. 

6.  Adjournment:  Supervisor Anderson reconvened the regular session.  J. Kupar moved the Board adjourn the Special Meeting.  K. Judy seconded the motion.  In a voice vote Supervisor Anderson and Trustees Kupar, Stutesman, and Judy voted aye.  Trustee Koppenhofer was absent.  The motion passed and the meeting adjourned. 

                                                                              Respectfully Submitted,

                                                                              Richard Johansen

                                                                              Clerk