Journal of Proceedings Ba

Journal of Proceedings

OF THE BOARD OF

COMMISSIONERS OF

THE

CHICAGO PARK DISTRICT

ba INDEX

VOLUME LXXVIII

MEETINGS OF THE BOARD OF COMMISSIONERS OF THE CHICAGO PARK DISTRICT

MEETING DATES

May 11, 2011 (Public Hearing and Annual Meeting) ...... 1 June 8, 2011...... 15 July 13, 2011...... 213 August 10, 2011...... 223 September 14, 2011...... 277 October 12, 2011...... 297 November 9, 2011...... 313 December 7, 2011 (Budget Hearing)...... 321 December 14, 2011...... 325 January 11, 2012 ...... 353

February 8, 2012 ...... 367

March 14, 2012 ...... 383

April 11, 2012...... 395

i 1ST PRIORITY ELEVATOR See Anderson Elevator Company Specification Number P-11012

ACCURATE BIOMETRICS, INC. Fingerprinting Services Specification P-11045 Adopted...... 355

AECOM, INC. Thorium contaminated material and removal at Dusable Park Specification P-05070-089 Adopted...... 228

Engineering Services for Garfield Park storm damage repairs Specification P- Adopted...... 318

ADDAMS (JANE) MEMORIAL PARK Acceptance of sculptural maquettes Adopted...... 216

ADJOURNMENT Adopted...... 2, 13, 23,220, 287, 303, 318, 323, 332, 359, 376, 404

ADLER PLANETARIUM General Admission Fee Increase Deferred ...... 19 Adopted...... 216

ALL-BRY CONSTRUCTION CO. Remediation at Park 503 Specification Number P-06015-127 Adopted...... 227

Contracts for General Contractor Services Specification Number P-11004 Adopted...... 283

Final Payment for Sheridan Park Artificial Turf Specification Number P-10039 Adopted...... 358

Final Payment for Palmer Park Specification Number P-06027 Adopted...... 389

ALTA VISTA GRAPHIC CORPORATION Outside printing services Specification Number P-11004 Adopted...... 329

ii AMERESCO Energy Savings Performance Specification Number P-09025 Adopted...... 300

ANCHOR MECHANICAL Tradesman Services Contract Number 24819 Adopted...... 401

APPOINTMENT Nominations Michael P. Kelly as Interim General Superintendent Adopted...... 23

Nominations Michael P. Kelly as General Superintendent and CEO Adopted...... 314

Introduction Illinois Association of Park Districts (IAPD) Delegates Adopted...... 314

Nominations Benjamin Armstrong as Chair of Committee on Administration And member of Committee on Programs and Recreation Adopted...... 384

BARTLETT TREE EXPERTS Tree Ratification Adopted...... 226

BEST IMAGING SOLUTIONS, INC Contract for banners, signage and large format printing services Specification No. P-10004 Adopted...... 393

Received and Filed...... 420

BIG TOP PRODUCTIONS, INC. Tent Rental Services Contract Number 9054 Adopted...... 10

BLINDERMAN CONSTRUCTION See All-Bry Construction Co. Specification Number P-11004

See Prequalified Firms (Boathouse)

iii Specification Number P-11063R

BLOOMINGDALE TRAIL See Collins Engineering Inc. Specification Number P-11007-002 BRANDENBURG INDUSTRIAL See All-Bry Construction Co. Specification Number P-11004

BROADWAY ARMORY PARK Change Order # 1 for early childhood room revisions Specification Number P-09057 Adopted...... 7

Contract for Construction of Indoor Track Scale Construction Specification P-11021 Deferred ...... 20

BURLING BUILDERS, INC. See All-Bry Construction Co. Specification Number P-11004

C3 (LOLLAPALOOZA) See Open Session

CANAL ORIGINS EAST PARK See Studio Gang Architects Specification Number P-05070-106

CARLOS KALMAR AND SELDY KRAMER,

CDW GOVERNMENT INC. Agreements for Microsoft license purchase and maintenance Adopted...... 315

CERTIFICATES OF FILING $36,055,000 General Obligation Limited Tax Park, Series 2011A $21,560,000 General Obligation Limited Tax Refunding Bonds, Series 2011B $71,880,000 General Obligation Unlimited Tax Refunding Bonds, Series 2011C (Personal Property Replacement Tax Alternate Revenue Source) 26,370,000 General Obligation Unlimited Tax Refunding Bonds, Series 2011D Received & Filed...... 298

15,935,000 General Obligation Unlimited Tax Refunding Bonds, Series 2010B Received & Filed...... 326

Cook County Clerk of Illinois for the Filling of the Chicago Park District 2012 Appropriation Ordinance Received & Filed...... 354

iv DuPage County Clerk of Illinois for the Filling of the Chicago Park District 2012 Appropriation Ordinance Received & Filed...... 354

Cook County Clerk of Illinois for the Filling of the Chicago Park District 2012 Annual Abatement Received & Filed...... 396

DuPage County Clerk of Illinois for the Filling of the Chicago Park District 2012 Annual Abatement Received & Filed...... 396

CERTIFICATE OF PUBLICATION Public Hearing Concerning the intent to sell Not to exceed $37,000,000 General Obligation Bonds Adopted...... 214

Chicago Park District 2011 Resolution approving current wages under the Prevailing Wage Act Received & Filed...... 278

Notice of Change of Venue Received & Filed...... 298

Supplemental Appropriation Ordinance for the year 2011 Received & Filed...... 326

Notice of Public Hearing for 2012 proposed Operating Budget Report and Tentative Appropriations Ordinance Received & Filed...... 326

Appropriation Ordinance for the year 2012 Received & Filed...... 368

CERTIFICATE OF RECEIPT Executed amended Bond order for the 42,445,000 General Obligation Tax Park Bonds, Series 2010A Received & Filed...... 4

Secretary of State filing of the Chicago Park District 2011 Prevailing Wage Resolution Received & Filed...... 224

Illinois Department of Labor filing of the Chicago Park District 2011 Prevailing Wage Resolution Received & Filed...... 224

Cook County Clerk of Illinois for the filing of the Chicago Park District 2011 Annual Tax Levy

v Received & Filed...... 278

DuPage County Clerk of Illinois for the Filling of the Chicago Park District 2011 Annual Tax Levy Received & Filed...... 278

CHICAGO CUBS BALL CLUB LLC See Clark Park

CHICAGO, CITY OF Approval of Fees Schedule and Intergovernmental Agreement in connection with the Taste of Chicago 2011 Adopted...... 12

Intergovernmental agreement for the creation of park #569 (see also Park# 569) Adopted...... 12

Transfer of title See Palisano Park CHICAGO HOUSING AUTHORITY Intergovernmental agreement to provide summer day camp for children Adopted………………………………………………………………………………………….328

CHICAGOPARK DISTRICT Amendments to CPD Code Chapter I Section A (Domestic Partners) Adopted………………………………………………………………………………………….215

Announcement of Standing Committees Adopted………………………………………………………………………………………….225

Amendments to CPD Code Chapter XI Section D (Cooperative Purchasing) Adopted………………………………………………………………………………………….370

Amendments to CPD Code Chapter III Section B.3(e) (Banning acceptance of gifts) Adopted………………………………………………………………………………………….397

CHICAGOLAND PAVING CONTRACTORS Final Payment for Lincoln, Kiwanis, and Hawthorne School Parks Specification Number P-09004 Adopted...... 21

CHICAGO UNITED INDUSTRIES Supply and Delivery of Lumber Specification P-11009

vi Adopted...... 286

Supply and Delivery of Building Materials Specification P-11009R Adopted...... 376

Beach Grooming Equipment Specification P-12003 Adopted...... 398

CHRISTY WEBBER & CO. Grant Park Landscape Services Specification P-11005 Adopted...... 331

Museum Campus Landscape Services Specification P-11006 Adopted...... 332

Delivery of grass seed Specification P-12002 Adopted...... 399

CLARK PARK (RICHARD) See Studio Gang Architects Specification P-05070-107

CLARK PARK Development of Little League Baseball Stadium (See also Chicago Cubs Ball Club LLC) Adopted...... 373

CLAUSS BROTHERS, INC. See All-Bry Construction Co. Specification Number P-11004

CLOSED SESSION No Action Taken...... 21, 219, 299, 358, 370, 384, 404

COLLINS ENGINEERING INC. Design and Engineering Services For the Bloomingdale Trail Specification Number P-11007-002 Adopted...... 286

COLE PARK, (NAT KING) PARK (270) Naming

vii Playground Feature for Mr. Thomas Wortham IV Adopted...... 316, 356

COMPREHENSIVE ANNUAL FINANCIAL REPORT (CAFR) Presentation of Report Adopted...... 282

COMMERCIAL SPECIALISTS Installation of plastic lockers, toilet compartments, benches, and related washroom accessories and replacement parts Specification Number P-11014 Adopted...... 286

CONSOLIDATED PRINTING CO. See Alta Vista Graphic Corp. Specification Number P-11004

DARWILL See Alta Vista Graphic Corp. Specification Number P-11004

DON NASH COMMUNITY CENTER See Tyler Lane Construction

DOUGLAS PARK See TIF

DUSABLE PARK See Aecom, Inc. Specification P-05070-089

DUNBAR PARK See Fineline BT Corp. Specification Number P-06015-071

ELECTION OF OFFICERS ElectionofPresident BryanTraubert ElectionofVicePresident BobPickens Adopted...... 6

Election of Vice President Benjamin Armstrong Adopted...... 384

ELECTRONIC KNOWLEDGE INTERCHANGE (EKI) Enterprise Content Management Specification Number P-11001 Adopted...... 386

viii ELENAR CONSTRUCTION See All-Bry Construction Co. Specification Number P-11004

FINELINE BT CORP. Dunbar Park Improvements Specification Number P-11004 Adopted...... 403

F.H. PASCHEN S.N. NEILSON & ASSOC. Stanton Field House Construction Specification Number P-11004-001 Adopted...... 384

See Prequalified Firms (Boathouse) Specification Number P-11063R

FRIEDLER CONSTRUCTION Contracts for General Contractor Services Specification Number P-11004

GAGE PARK See Pan Oceanic Engineering Company Specification Number P-06013-104

GRACE ENTERPRISES INC. See Alta Vista Graphic Corp. Specification Number P-11004

GRANT PARK Music Festival Agreements with Carlos Kalmar and Seldy Kramer, Inc. to serve as principle conductor of the Music Festival Adopted...... 12

Change Order See Michael Van Valkenburgh Assoc.

GRAEF, USA Redevelopment of Park 510 Specification Number P-05070-091 Adopted...... 19

GREENBAUM See John Keno & Company, Inc. Specification Number P-10035

GREEN JANITORIAL SUPPLIES Targeted Market Solicitation

ix Adopted...... 387

HARRY’S LUMBER CORP. See Chicago United Industries, Ltd. Specification P-11009R

HAWTHORNE PARK See Chicagoland Paving Contractors Specification Number P-09004

HITCHCOCK DESIGN GROUP Design Services for Park 568 Specification Number P-11007-007 Adopted...... 402

ILLINOIS RESTAURANT ASSOCIATION Modification of the Taste of Chicago Agreement Adopted...... 18

ILLINOIS DEPARTMENT OF CHILDREN AND FAMILY SERVICES Intergovernmental Agreement to provide summer day camp programs Adopted...... 226

INTER-CITY SUPPLY CO., INC. See Commercial Specialties Specification Number P-11014

INDUSTRIAL & ENVIRONMENT Contracts for General Contractor Services Specification Number P-11004

JAMES MCHUGH CONSTRUCTION CO. See Prequalified Firms (Boathouse) Specification Number P-11063R

JOHN KENO & COMPANY, INC. Greenbaum Park Development Specification Number P-10035 Adopted...... 218

JOHNSON CONTROLS, INC. See Ameresco, Inc. Specification Number P-09025

JL CORPORATION D/B/A HARRY’S LUMBAR See Chicago United Industries, Ltd/ Specification P-11009

x JOURNAL OF PROCEEDINGS Adopted...... 4, 16, 214, 224, 279, 298, 354, 368, 384

KARL PRODUCTIONS Production of CPD Television Show Specification Number P-11052 Adopted...... 374

KIWANIS PARK See Chicagoland Paving Contractors Specification Number P-09004

MARTIN IMPLEMENT SALES, INC. Purchase of utility vehicles Specification Number P-11024 Adopted...... 7

NATIONWIDE JANITORIAL CORPORATION Maintenance Services for Taste of Chicago 2011 Contract Number 19926 Adopted...... 8

LOMBARD COMPANY Contracts for General Contractor Services Specification Number P-11004

LINCOLN PARK Lincoln Park Society Approval of parking rates located at Clark and LaSalle And amendment to use agreement and Manager’s Bylaws Adopted...... 12

See Chicagoland Paving Contractors Specification Number P-09004

LIVE NATION Management of Northerly Island concert venue Specification Number P-11060

MARY BARTELME PARK See The Lombard Company Specification Number P-06015-043

MATHER PARK See TIF

MBB ENTERPRISES OF CHICAGO

xi Contracts for General Contractor Services Specification Number P-11004

Final Payment for General Contractor Services Specification Number P-09000 Adopted...... 317

MCDONAGH DEMOLITION, INC. Contracts for General Contractor Services Specification Number P-11004

MCFETRIDGE SPORTS CENTER. Energy Savings Contracting Services Program Adopted...... 388

MECCOR INDUSTRIES Contracts for General Contractor Services Specification Number P-11004

See Prequalified Firms (Boathouse) Specification Number P-11063R

Garfield Conservatory Rehabilitation Specification Number P-11004-025 Adopted...... 401

MEDICAL EXPRESS AMBULANCE SERVICES Medical Express Ambulance Services/d/b/a Med Ex Ambulance Services Adopted...... 281

MICROSOFT See CDW Government Inc. Microsoft Licensing Software And Maintenance Adopted...... 386

MICHAEL VAN VALKENBURGH ASSOC. Grant Park change order Adopted...... 402

MOORE LANDSCAPES Planting and Landscape Services Specification Number P-11028

MTH INDUSTRIES Safety Glass and Glass Services

xii Contract # 9355 Adopted...... 285

MUSEUMS IN THE PARK Adler Planetarium General Admission Fee Change Deferred ...... 19

OPEN SESSION

Destruction of Verbatim Records For May 14, 2008, June 11, 2008, September 3, 2008 October 14, 2009, December 9, 2009 Adopted...... 22

Withholding of Executive Session Minutes For Adopted………………………………………………………………………………………….146

Release of Executive Session Minutes For May 13, 2009, December 11, 2010, January 12, 2011 February 9, 2011, April 16, 2011 Adopted...... 22

Destruction of Verbatim Records For May 13, 2009 Adopted………………………………………………………………………………………….358

Release of Executive Session Minutes For June 8, 2011, July 11, 2011, October 12, 2011 Adopted………………………………………………………………………………………….?

Settlement of Sam F. Lasurdo v. Chicago Park District Adopted...... 29

Settlement of Jesse Howard v. Chicago Park District Adopted………………………………………………………………………………………....370

Settlement of Stefano Maida v. Chicago Park District Adopted………………………………………………………………………………………....370

Waiver to release C3 Lollapalooza settlement agreement And enter into a revised and amended agreement Adopted...... 385

Self-Evaluation and Procedures No Action Taken...... 404

xiii ORDINANCE (BONDS)

Ordinance of Not to Exceed $40,000,000 General Obligation Limited Tax Park Bonds, Series 2011A

Ordinance of Not to Exceed $25,000,000 General Obligation Limited Tax Refunding Bonds, Series 2011B

Ordinance of Not to Exceed $82,000,000 General Obligation Unlimited Tax Refunding Bonds, Series 2011C (Personal Property Replacement Tax Alternate Revenue Source)

Ordinance of Not to Exceed $31,000,000 General Obligation Unlimited Tax Refunding Bonds, Series 2011D Adopted...... 18

ORDINANCE (ACQUIRED PROPERTY) Ordinance acceptance of a parcel of land for a new park at 1799-1805 North Milwaukee Avenue Adopted...... 284

Ordinance acceptance of a parcel at Intersection for Lawrence and La Porte for the expansion of Thuis Park Adopted...... 284

ORDINANCE (ADMINISTRATIVE)

2012 Annual Appropriation Ordinance Adopted…………………………………………………………………………………………328

Ordinance authorizing transfers among operating funds Adopted…………………………………………………………………………………………328

OUI OUI ENTERPRISES Toilet rental for Taste of Chicago 2011 Specification Number P-11019 Adopted...... 7

PALISAMO PARK (#531) Transfer of title from City of Chicago Adopted...... 398

PALOS ENTERPRISES Supply and Delivery of Sporting Goods Specification Number P-11035 Adopted...... 372

PAN-OCEANIC ENGINEERING COMPANY Gage Park Artificial Turf Installation Specification Number P-06015-104

xiv Adopted...... 219

PARK #503 See All Bry Construction Specification Number P-06015-127

PARK #510 See Graef USA Specification Number P-05070-091

PARK #532 Park Naming (Hattie Kay Williams) Adopted...... 355, 370

PARK #544 Park Naming (Lois Klein) Adopted...... 217

PARK #554 Park Naming (Julia De Burgos) Adopted...... 316, 355

PARK #558 Park Naming (King-Lockhart) Adopted...... 329, 375

PARK #561 Park Naming (Fred Anderson) Adopted...... 330

PARK #568 See Hitchcock Design Group

PARK #569 Intergovernmental Agreement for creation of a new park See also City of Chicago Adopted...... 330

PARK #571 Acceptance of property for a new park Adopted...... 356

PATSON INC. Forestry and Aerial trucks Contract Number 21921 Adopted...... 374

PEOPLE IN THE PARKS No Action Taken...... 4, 17, 214, 224, 279, 299, 315, 327, 354, 368, 385, 396

PERSONNEL BOARD

xv Election of Commissioner LaVelle to the Personnel Board Adopted...... 278

PETERSON PARK Extension of leashed area Adopted...... 398

POPULAR ANNUAL FINANCIAL REPORT (PAFR) See Comprehensive Annual Financial Report (CAFR)

POWERS & SONS CONSTRUCTION Contracts for General Contractor Services Specification Number P-11004

PREQUALIFIED FIRMS Design and Engineering Specification Number P-11005 Adopted...... 356

Boat House Construction Pool Specification Number P-11063R Adopted...... 391

PRESENTATION FROM THE DEPARTMENTS No Action Taken...... 4, 16, 214,224, 279, 298, 315, 327, 354, 368, 384, 396

PREVAILING WAGE See Resolution (CPD Administrative Business)

PUBLIC COMMENTS Adopted...... 2, 322

PUBLIC BUILDING COMMISSION Notice of Construction Projects-Douglas Park and Ping Tom Park Field House Construction Projects Adopted...... 217

PUBLIC HEARING Intent to sell Not to Exceed 37,000,000 General Obligation Park Bonds No Board Action Taken ...... 2

2012 Operating Budget Report and the Tentative Appropriation Ordinance of the Chicago Park District Adopted...... 322

Proposed Budget Report Recommendation and 2012 Annual Appropriation Ordinance Adopted...... 354

xvi RECYCLING SYSTEMS, INC. Debris Dumping Transfer Station Services Specification Number P-11046 Adopted...... 284

RESIGNATION OF TIMOTHY J. MITCHELL Submitted to the Board Adopted...... 23

RESOLUTION (HONORING PEOPLE AND SUPPORTING MEASURE) Resolution honoring Timothy J. Mitchell as Superintendent and Chief Executive Officer Adopted...... 16

Resolution honoring the Museum of Science and Industry in recognition of their receipt of national and international awards

Resolution honoring Monique Ramirez for her achievement in being selected as a High School All American by the US Paralympics Adopted...... 314

Resolution honoring Deandre Deasoow for his achievement in being selected as a High School All American by the US Paralympics Adopted...... 314

Resolution honoring the public service of the late Maggie Daley Adopted...... 326

Resolution honoring Vice President Bob Pickens for his years of service to the Chicago Park District Adopted...... 326

RESOLUTION (TO ACQUIRE OR TRANSFER PROPERTY) Resolution authorizing Adopted…………………………………………………………………………………………..?

RESOLUTION (CPD ADMINISTRATIVE BUSINESS) Approving rates under the Prevailing Wage Act Adopted...... 16

Adopting policies regarding travel and reimbursement Adopted...... 227

Adopting an internal Audit Charter Adopted...... 227

Capital expenditures to be reimbursed from bond proceeds of a bond issue

xvii Adopted...... 396

REYES GROUP, LTD. Contracts for General Contractor Services Specification Number P-11004

RICHARDS GRAPHIC COMMUNICATIONS, INC. See Alta Vista Graphic Corp. Specification Number P-11004

ROBE, INC. Contracts for General Contractor Services Specification Number P-11004

ROOT BROTHERS MANUFACTURING SUPPLY CO. See Chicago United Industries, Ltd. Specification P-11009R

RUTHERFORD/SAYRE PARK See TIF

SCALE CONSTRUCTION See Broadway (Change Order #1) Specification Number P-09057

See Broadway Armory (Running Track Specification P-11021

SCHAEFGAES BROTHERS INC. See Prequalified Firms (Boathouse) Specification Number P-11063R

SENRYO Contract for the purchase and implementation of Budget Software Specification Number P-10009 Adopted...... 280

SIEMENS INDUSTRY See Ameresco, Inc. Specification P-11009

SL CORP Supply and Delivery of Building Materials Specification P-11009R Adopted...... 376

SOUTHWEST INDUSTRIES INC. D/B/A

xviii ANDERSON ELEVATOR COMPANY Contract for Elevator Maintenance and Repair Specification Number P-11012 Adopted...... 301

STANTON PARK See TIF See F.H. Paschen S.N. Neilson

STRATHMORE COMPANY See Alta Vista Graphic Corp. Specification Number P-11004

STUDIO GANG ARCHITECTS Contract for Design of Boat Houses Specification P-05070-106, P-05070-107 Adopted...... 316

SUPPLEMENTAL APPROPRIATION ORDINANCE For Additional 2011 Revenue and Expenditures Adopted...... 300

TAX INCREMENT FUND (TIF) Intergovernmental agreements with the City of Chicago for Various Parks-Douglas, Mather, Metcalfe, Rutherford/Sayre, Stanton, and Union Parks Adopted...... 217

Intergovernmental Agreements with the City of Chicago for Various Projects Adopted...... 375

Intergovernmental Agreements with the City of Chicago for Various Projects Adopted...... 387

TAKE THE FIELD Donation Agreement for multiple artificial turf multi-sport fields at various Chicago Park District Parks Adopted...... 6

TARGET MARKET SOLICITATION Advertise Bus Transportation services Adopted...... 282

Advertise Outside Printing Services Adopted...... 282

TAX LEVY ORDINANCE Adoption of the 2011 Annual Tax Levy Ordinance

xix Adopted...... 226

THE CARE OF TREES See Bartlet Tree Experts (Ratification)

THE LOMBARD COMPANY Final Payment for Bartelme Specification Number P-06015-043 Adopted...... 20

See Prequalified Firms (Boathouse) Specification Number P-11063R

THE SECURITY MANAGEMENT GROUP OF AMERICA Security Guard Services for Taste of Chicago 2011 Contract Number 19863 Adopted...... 9

Special Event Personnel at the Taste of Chicago 2011 Contract Number 17470 Adopted...... 11

TECHNOTRIX Sound for equipment for City Festivals for the Taste of Chicago 2011 Contract Number 17473 Adopted...... 10

TRANS CHICAGO TRUCK See Patson Inc.

TYLER LANE CONSTRUCTION CO. Don Nash Community Center Final Payment Spcefication Number P-06015-086 Adopted...... 390

Dvorak, West Lawn, and Woodhill ADA transition plan Final Payment Spcefication Number P-06015-060 Adopted...... 403

UNION PARK See TIF

V3 CONSTRUCTION GROUP Contracts for General Contractor Services Specification Number P-11004

xx VIRMAC SERVICES, INC. See Chicago United Industries, Ltd/ Specification P-11009

Supply and Delivery of Building Materials Specification P-11009R Adopted...... 376

WALSH CONSTRUCTION COMPANY Contracts for General Contractor Services Specification Number P-11004

See Prequalified Firms (Boathouse) Specification Number P-11063R

WARD (A. MONTGOMERY) PARK Acceptance of the Commemorative Ground Ring and Sculpture Adopted...... 216

WINKLER’S TREE AND LANDSCAPING, INC. See Bartlet Tree Experts

WORKERS’ COMPENSATION Settlement of Roy Cloutoer v. CPD Adopted...... 219

WORTHAM, THOMAS IV PLAYGROUND (See Cole, Nat King Park) Adopted...... 356

xxi

Journal of Proceedings

OF THE BOARD OF COMMISSIONERS OF THE

CHICAGO PARK DISTRICT



Public Hearing on the intent of the Board of Commissioners of the Chicago Park District to sell not to exceed $37,000,000 General Obligation Park Bonds held on Wednesday, May 11, 2011 at 4:00 p.m.

Held in the field house of Union Park at 1501 West Randolph Street, Chicago, Illinois 60607

OFFICIAL RECORD Present: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice-President Pickens, President Traubert-6

Absent: None

CALL TO ORDER On Wednesday, May 11, 2011, at four O’clock in the afternoon (the day and hour appointed for the meeting), President Traubert called the board to order.

QUORUM The secretary called the roll of members and there was found to be a quorum present.

[May 11, 2011] [JOURNAL OF PROCEEDINGS] Page | 2

PUBLIC HEARING:

Public Hearing on the intent of the Board of Commissioners of the Chicago Park District to sell not to exceed $37,000,000 General Obligation Park Bonds

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ PRESENTATIONS:

Melinda Molloy, Treasurer

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ADJOURNMENT: (10)

The President announced that the applicable provisions of the Code of the Chicago Park District fixed the time for the Public Hearing of the Board of Commissioners on Wednesday, May 11, 2011, at 4:00 p.m, in the field house of Union Park at 1501 West Randolph Street, Chicago, Illinois 60607. No further business was presented and President Traubert moved that the Board of Commissioners adjourn.

The motion prevailed and the Board stood adjourned to meet again for the Annual Meeting of the Board of Commissioners on Wednesday, May 11, 2011, at 4:10 p.m., in the field house of Union Park at 1501 West Randolph Street, Chicago, Illinois 60607.

Kantrice Ogletree Secretary

Journal of Proceedings

OF THE BOARD OF COMMISSIONERS OF THE CHICAGOPARK

DISTRICT



Annual Meeting held on Wednesday, May 11, 2011, at 4:10 p.m.

Held in the field house of Union Park at 1501 West Randolph Street, Chicago, Illinois 60607

OFFICIAL RECORD Present: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice-President Pickens, President Traubert-6

Absent: None

CALL TO ORDER On Wednesday, May 11, 2011, at four-ten in the afternoon (the day and hour appointed for the meeting), President Traubert called the board to order.

QUORUM The secretary called the roll of members and there was found to be a quorum present.

3 [May 11, 2011] [JOURNAL OF PROCEEDINGS] P a g e | 4

CERTIFICATESOFRECEIPTOFTHEEXECUTEDAMENDEDBONDORDERFORTHE $42,445,000 GENERAL OBLIGATION LIMITED TAX PARK BONDS, SERIES 2010A: (1)

The secretary submitted the Certificates of Receipt by Cook and DuPage county clerks acknowledging receipt of the certificates of the executed amended bond order.

Received and Filed.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

JOURNAL OF PROCEEDINGS: (2)

The secretary presented the minutes from the Regular Board Meeting held on April 16, 2011.

President Traubert moved that the matter be adopted. The motion prevailed and the resolution was adopted by a roll call vote of yeas and nays as follows:

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6 Nays: None

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ PRESENTATION FROM THE DEPARTMENTS: (3)

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ PEOPLE IN THE PARKS: (4)

Leroy Bowers, Washington Park, thanked the commissioners for assisting with new equipment purchases to maintain their baseball fields, and looks forward to working with the parks on a new idea to solve their drainage problems. Mr. Bowers also shared plans for a boating program in Washington Park that will train youth in row boat rescue procedures.

Cecilia Butler, President of Washington Park Advisory Council, explained that despite an agreement with the 4th of July festival event staff that would move a music stage away from a high rise building on Cottage Grove, the stage was set up in the same position. Out of concern that the Alderman and Park District Superintendent would be replaced by 2012, Ms. Butler wanted the commissioners to ensure on the record that the Park District would move the festival next year.

Jeffery Ayersman, Chicago Women’s Park and Gardens Advisory Council, presented a community survey with recommendations to name the indoor facility “The Prairie District Arts and Recreation Center.” In addition, Mr. Ayersman shared plans for a Bulls and White Sox Training Acedemy Summer Camp at Dunbar Park. He is hoping the program can be expanded to other parks as there are currently no Bulls or White Sox partnership camps within city limits.

John Barbush, Associated Media, questioned the accountability of former Director of the Mayor’s Office of Special Events, Megan McDonald, and expressed concern that, despite her department failing and showing its first losses under her leadership, she is now associated [P a g e | 5] [JOURNAL OF PROCEEDINGS] [Wednesday, May 11, 2011]

with the Chicago Park District and their Taste of Chicago event. Mr. Barbush also explained that musicians, who have been volunteering with the Taste of Chicago for many years, have now been excluded.

Mike Roman, lawyer and musician, believes he has been blocked from playing the Taste of Chicago and expressed concern that when speaking to former liaison of the Office of Special Events, Erin Bower, and Park District General Council, Maria Garcia, he was told that they would be checking with Megan McDonald. Mr. Roman questions why Megan McDonald is still involved with the Taste of Chicago and requests an investigation into the matter.

Maria Stone, Friend of the Parks, expressed concern that only two contracts for the Taste of Chicago specify a dollar amount, while the remaining contracts do not. Friends of the Psrks requests information regarding the benefits the public receives in return for these public expenditures, and what percentage of sponsorship revenue will the Chicago Park District receive.

Eleanor Roemer, Friends of the Parks, questioned a portion of a contract with Take the Field, regarding a statement that permit fees for youth and community groups would be waived if they are to use these fields during certain times of the week. She is concerned this suggests that youth groups will be charged at other times and that this is a poor trade of recreation for finance.

Anthony Iniquiz, thanked the staff and commissioners for their assistance in getting Touhy park one step closer to a new playground. Alderman Moore has given $1.3 million in addition to the S225,000.00 that they were able to raise from menu money. He looks forward to working with the planning staff.

Mark Heller, presented a policy suggestion to revise the existing open space impact fee program of the city assessed on new residential development. Open space fees indexed to median sale prices accounts for differences in valuation and land costs among city neighborhoods. Poor neighborhoods usually have a low valuation and less development; hence, lower open space fee accrual. Mr. Heller requests that the open space fees be revised and indexed to the median sale price of similarly sized dwelling units, in order to encourage more development in park poor neighborhoods.

May Toy, Skinner Park Advisory Council, shared photos from their Earth Day and Egg Hunt events. She also wanted to follow up about a $10,000.00 donation made by LaSalle Bank that was held by the Park District and accrued interest. Ms. Toy thanked Alderman Burnett who was instrumental in helping the Advisory Council access that donation.

Rachel Goodstein, thanked the superintendent and the commissioners for their service, maintaining that they have the most important jobs providing children with after school programs. She disagrees, however, with the handling of Meigs Field, citing that it would have been sold for $700 million if the Park District had acted independently of the Mayor’s wishes to destroy a valuable asset. Ms. Goodstein urges the future leaders of the parks to make financial decisions for the benefit of children programming and free of politics.

George Blakemore, expressed delight at the amount of public speakers and hopes that more citizens will participate in future board meetings. He agrees with Rachel Goodstein that the board of the Park District should always act on behalf of citizens.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ UNFINISHED BUSINESS: (5) [May 11, 2011] [JOURNAL OF PROCEEDINGS] P a g e | 6

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

NEWBUSINESS:

ELECTION OF OFFICERS: (6A, 6B)

ElectionofPresident BryanTraubert ElectionofPresidenteffective May11,2011

Commissioner Koldyke moved to elect Bryan Traubert to serve as President of the Board of Commissioners of the Chicago Park District for a term of one (1) year.

The motion prevailed and the election was complete by a voice vote of ayes and against as follows:

Ayes: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6

Against: None

ElectionofVicePresident VicePresident Election May11,2011

President Traubert moved to elect Bob Pickens to serve as Vice President of the Board of Commissioners of the Chicago Park District for a term of one (1) year.

The motion prevailed and the election was complete by a voice vote of ayes and against as follows:

Ayes: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6

Against: None

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ AUTHORIZATIONTONEGOTIATEANDENTERINTOADONATIONAGREEMENTFOR MULTIPLEARTIFICIALTURFMULTI-SPORTFIELDSATVARIOUSCHICAGOPARKDISTRICT PARKS: (7)

The Chicago Park District recommends that the Board of Commissioners (the “Board”) authorize General Superintendent or his designee to negotiate the terms of a donation agreement and subsequently enter into the donation agreement for the design and construction of artificial turf multi-sport fields at various Park District parks. The fields will be built and funded by a donation from Take The Field, an Illinois not-for-profit. Additionally, in support of this project the Park District had determined it is in the best interest of park patrons to incorporate playing field lighting into this donation agreement and the Park District will contribute the funding necessary toward the installation of lighting or other improvements at each new field site.

President Traubert moved that the matter be adopted. The motion prevailed and the resolution was adopted by a roll call vote of yeas and nays as follows: [P a g e | 7] [JOURNAL OF PROCEEDINGS] [Wednesday, May 11, 2011]

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6 Nays: None

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ AUTHORIZATION TO ENTER INTO A CHANGE ORDER FOR EARLY CHILDHOOD ROOM 132 ROOM REVISIONS AT BROADWAY ARMORY PARK: (8)

The Chicago Park District recommends that the Board of Commissioners (the “Board”) approve change Order # 1, Early Childhood Development Room 132 Revisions in the amount of $138,399.40. Broadway Armory is located at 5917 North Broadway Street, in the 48th Ward in the Edgewater Community Area. The original contract amount was for $4,638,400.00. Whereas this general space (“Room 132”) was originally identified to be a one of two multi-purpose rooms included in the current Rehabilitation Phase II construction contract, these additional construction items will allow increased flexibility and operation suitable for Early Childhood Development programs.

President Traubert moved that the matter be adopted. The motion prevailed and the resolution was adopted by a roll call vote of yeas and nays as follows:

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6 Nays: None

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ AUTHORIZATIONTOENTERINTOACONTRACTFORTHEPURCHASEOFUTILITY VEHICLES: (9)

The Chicago Park District recommends that the Board of Commissioners (the “Board”) authorize the General Superintendent and CEO or his designee, to enter a contract with Martin Implement Sales, Inc., in an amount not-to-exceed $538,720.00 for the purchase and delivery of utility vehicles. The Department of Natural Resources (“DNR”) uses utility vehicles: to maintain CPD ball fields; for general clean up; for its overall landscape operations; and in the winter to remove snow. The contract term is for one (1) year with three (3) one (1) year extension options. The Minority- and Women-Owned Participation for this contract include: 25% Minority-Owned and 5% Women-Owned.

President Traubert moved that the matter be adopted. The motion prevailed and the resolution was adopted by a roll call vote of yeas and nays as follows:

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6 Nays: None

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ AUTHORIZATIONTOENTERINTOACONTRACTFORPORTABLETOILETRENTALFORTHE TASTE OF CHICAGO: (10)

The Chicago Park District recommends that the Board of Commissioners (the “Board”) authorize the General Superintendent and CEO or his designee, to enter into a contract with [May 11, 2011] [JOURNAL OF PROCEEDINGS] P a g e | 8

Oui Oui Enterprises in an amount not-to-exceed $166,950 per year for initial appropriations for the purpose of providing lighting services district wide. The contract Term is for one (1) year with three (3) one (1) year extension options. The operation of the Taste includes having portable toilets and sinks available for Taste patrons and Oui Oui Enterprises will provide and deliver them in time for the Taste. The City of Chicago did not have a contract in place in which the CPD could participate. The Minority- and Women-Owned Participation for this contract include: 25% Minority-Owned and 5% Women-Owned.

That pursuant to requests for proposals or sealed competitive bids heretofore advertised, received, and opened, publicly read aloud, or Non-Competitive Procurement, Chapter XI, Section D (1), of the Chicago Park District Code and referred to the Committee on Administration for recommendation of award, in accordance with the provisions of the Code of the Chicago Park District, the following are hereby determined to be either the lowest responsible bidder, or the most qualified proposer, proposing to furnish the supplies, materials, equipment and services provided for in the respective specifications and in accordance with the prices, terms, and conditions of the awardee’s proposal or bid.

Commodity DateofOpening Awardee TotalPrice or Project PortableToiletsandSinks OuiOuiEnterprises NTE$166,950.00

President Traubert moved that the matter be adopted. The motion prevailed and the resolution was adopted by a roll call vote of yeas and nays as follows:

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6 Nays: None

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ AUTHORIZATION TO UTILIZE THE CITY OF CHICAGO CONTRACT NO. 19926 FOR MAINTENANCE SERVICES AT THE TASTE OF CHICAGO 2011: (11)

The Chicago Park District recommends that the Board of Commissioners (the “Board”) authorize the General Superintendent and CEO or his designee, to enter into a contract with Nationwide Janitorial Corporation for maintenance services at The Taste of Chicago 2011, pursuant to the Joint Purchasing Agreement between the Chicago Park District and the City of Chicago. Earlier this year the Chicago Park District (“CPD”) became responsible for the production and operation of The Taste of Chicago 2011. Nationwide provides all daily maintenance services for the Taste including keeping the grounds and stages clean at all times, pressure washing when necessary, and hauling and properly disposing all waste. To maintain continuity of service it is in the best interest of the Chicago Park District to enter into a contract with Nationwide Janitorial Corporation for maintenance services for Taste of Chicago 2011.

Commodity DateofOpening Awardee TotalPrice or Project MaintenanceServices NationwideJanitorialCorp.

President Traubert moved that the matter be adopted. The motion prevailed and the resolution was adopted by a roll call vote of yeas and nays as follows:

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6 Nays: None

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ AUTHORIZATION TO UTILIZE CITY OF CHICAGO CONTRACT NO. 19655 FOR SECURITY GUARD SERVICES AT THE TASTE OF CHICAGO 2011: (12)

The Chicago Park District recommends that the Board of Commissioners (the “Board”) authorize the General Superintendent and CEO or his designee, to enter into a contract with The Security Management Group of America, Inc. for security guard services at The Taste of Chicago 2011. The contract Period is for four (4) months, from May – August 31, 2011 in an amount Not to exceed $1,300,000.00. Earlier this year the Chicago Park District (“CPD”) became responsible for the production and operation of The Taste of Chicago 2011. The City has many contracts with different contractors that are necessary for the production and operation of the Taste of Chicago including The Security Management Group of America, Inc. (“SMG”). SMG provides all daily armed and unarmed security guard services to help ensure a safe environment for people who attend and work at the Taste. The Minority and Women Owned Participation for this contract include: 25% Minority Owned and 5% Women Owned.

Commodity DateofOpening Awardee TotalPrice or Project Security Guard Services Security Management Group of America NTE $1,300,000.00

President Traubert moved that the matter be adopted. The motion prevailed and the resolution was adopted by a roll call vote of yeas and nays as follows:

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6 Nays: None [May 11, 2011] [JOURNAL OF PROCEEDINGS] P a g e | 10

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ AUTHORIZATION TO UTILIZE CITY OF CHICAGO CONTRACT NO. 9054 FOR TENT RENTAL FOR THE TASTE OF CHICAGO: (13)

The Chicago Park District recommends that the Board of Commissioners (the “Board”) Commissioners authorize the General Superintendent and CEO or his designee, to enter into a contract with Big Top Productions, Inc. for the rental of tents for The Taste of Chicago 2011. . The City has many contracts with different contractors that are necessary for the production and operation of the Taste of Chicago including Big Top Productions, Inc. (“Big Top”). Big Top provides and installs tents that are used at the Taste of Chicago. The CPD does not have a contract in place to provide these services for the Taste, and there is not enough time to prepare and advertise a bid. The Minority and Women Owned Participation for this contract include: 25% Minority Owned and 5% Women Owned. That pursuant to requests for proposals or sealed competitive bids heretofore advertised, received, and opened, publicly read aloud, or Non-Competitive Procurement, Chapter XI, Section D (1), of the Chicago Park District Code and referred to the Committee on Administration for recommendation of award, in accordance with the provisions of the Code of the Chicago Park District, the following are hereby determined to be either the lowest responsible bidder, or the most qualified proposer, proposing to furnish the supplies, materials, equipment and services provided for in the respective specifications and in accordance with the prices, terms, and conditions of the awardee’s proposal or bid.

Commodity DateofOpening Awardee TotalPrice or Project TentRentalServices BigTopProductions,Inc.

President Traubert moved that the matter be adopted. The motion prevailed and the resolution was adopted by a roll call vote of yeas and nays as follows:

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6 Nays: None

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ AUTHORIZATION TO UTILIZE CITY OF CHICAGO CONTRACT NO. 17473 FOR SOUND EQUIPMENT FOR CITY FESTIVALS FOR THE TASTE OF CHICAGO 2011: (14)

The Chicago Park District recommends that the Board of Commissioners (the “Board”) authorize the General Superintendent and CEO or his designee enter into a contract with Technotrix, Inc. for the rental of sound equipment for The Taste of Chicago 2011. The City has many contracts with different contractors that are necessary for the production and operation of the Taste of Chicago including Technotrix, Inc. (“Technotrix”). Technotrix provides and sound equipment for the installed tents that are used at the Taste of Chicago. The Minority and Women Owned Participation for this contract include: 25% Minority Owned and 5% Women Owned.

responsible bidder, or the most qualified proposer, proposing to furnish the supplies, materials, equipment and services provided for in the respective specifications and in accordance with the prices, terms, and conditions of the awardee’s proposal or bid.

Commodity DateofOpening Awardee TotalPrice or Project SoundEquipment Technotrix,Inc.

President Traubert moved that the matter be adopted. The motion prevailed and the resolution was adopted by a roll call vote of yeas and nays as follows:

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6 Nays: None

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ AUTHORIZATION TO UTILIZE CITY OF CHICAGO CONTRACT NO. 17470 FOR SPECIAL EVENT PERSONNEL AT THE TASTE OF CHICAGO 2011: (15)

The Chicago Park District recommends that the Board of Commissioners (the “Board”) authorize the General Superintendent and CEO or his designee enter into a contract with The Security Management Group of America, Inc. for special event personnel at The Taste of Chicago 2011. The City has many contracts with different contractors that are necessary for the production and operation of the Taste of Chicago including The Security Management Group of America, Inc. (“SMG”). SMG provides personnel support at all stages at the Taste of Chicago. The services include but are not limited to: ushering, backstage support at all stages, and ticketing at the Petrillo. The Minority and Women Owned Participation for this contract include: 25% Minority Owned and 5% Women Owned.

Commodity DateofOpening Awardee TotalPrice or Project Personnel TheSecurityManagementGroupofAmerica,Inc.

President Traubert moved that the matter be adopted. The motion prevailed and the resolution was adopted by a roll call vote of yeas and nays as follows:

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6 Nays: None [May 11, 2011] [JOURNAL OF PROCEEDINGS] P a g e | 12

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ AUTHORIZATIONTOAPPROVEFEESCHEDULEANDENTERINTOAGREEMENTSIN CONNECTION WITH TASTE OF CHICAGO 2011: (16)

The Chicago Park District recommends that the Board of Commissioners (the “Board”) adopt an ordinance approving the schedule of fees for the 2011 Taste of Chicago (the “Event”), and authorize the General Superintendent and CEO or his designee, to negotiate and enter into intergovernmental agreements, instruments or undertakings with the City of Chicago and other applicable governmental entities for services such as fire, police, health and general services not to exceed $3,000,000; a donation agreement with Parkways Foundation; and, if applicable, any agreements with private persons and entities necessary for the production and management of the Event in an amount not to exceed $200,000 per agreement with a combined limit of $1,000,000.

President Traubert moved that the matter be adopted. The motion prevailed and the resolution was adopted by a roll call vote of yeas and nays as follows:

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6 Nays: None

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ AUTHORITYTOENTERINTOANAGREEMENTWITHCARLOSKALMARANDSELDYCRAMER ARTISTS,INC.,TOSERVEASPRINCIPALCONDUCTOROFTHEGRANTPARKMUSIC FESTIVAL: (17)

The Chicago Park District recommends that the Board of Commissioners (the “Board”) authorize the General Superintendent and CEO or his designee, to enter into an agreement with Mr. Carlos Kalmar to provide services as Principal Conductor and Artistic Director of the Grant Park Music Festival (the “Festival”). Mr. Kalmar is represented by Seldy Cramer Artists, Inc. Mr. Kalmar was selected based on his international reputation as one of the leading classical music conductors of his generation. Since assuming the role of Principal Conductor in 2000, Mr. Kalmar has received numerous accolades from critics and has helped the Festival to increase its membership substantially. Upon execution of this agreement, Mr. Kalmar will also be responsible for the artistic development of the Festival. No work may commence and no payment shall be made to the contractor prior to the execution of a written agreement.

President Traubert moved that the matter be adopted. The motion prevailed and the resolution was adopted by a roll call vote of yeas and nays as follows:

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6 Nays: None

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ AUTHORIZATIONTOAPPROVEPARKINGRATESFORTHEPARKINGFACILITYLOCATEDAT CLARKANDLASALLESTREETSANDAMENDTHEFACILITY’SUSEAGREEMENTAND MANAGER’S BY-LAWS: (18) [P a g e | 13] [JOURNAL OF PROCEEDINGS] [Wednesday, May 11, 2011]

The Chicago Park District recommends that the Board of Commissioners (the “Board”) authorize the General Superintendent and CEO or his designee, to negotiate and enter into an amendment to the 1988 Agreement between the Chicago Park District, the Chicago Historical Society, and the Lincoln Park Society to extend the term by 10 years, reduce the growth factor of the annual fee payable to the Park District, and eliminate interest payments on a portion of project financing provided by the Chicago Historical Society. It is also recommended that the Board authorize amendments to the bylaws of the Lincoln Park Society and approve by ordinance the proposed parking rates. In 1998 the Chicago Park District, the Chicago Historical Society, and the Lincoln Park Society, entered into an agreement to build and operate a parking facility at 1740 North Stockton Drive (the “Agreement”). Parking revenues from the facility have not grown at the forecasted rate.

President Traubert moved that the matter be adopted. The motion prevailed and the resolution was adopted by a roll call vote of yeas and nays as follows:

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6 Nays: None

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ADJOURNMENT: (19)

The President announced that the applicable provisions of the Code of the Chicago Park District fixed the time for the Annual Scheduled Meeting of the Board of Commissioners on Wednesday, May 11, 2011, at 4:10 p.m. in the field house of Union Park located at 1501 West Randolph Street, Chicago, Illinois 60607. No further business was presented and President Traubert moved that the Board of Commissioners adjourn.

The motion prevailed and the Board stood adjourned to meet again for a Regular Meeting of the Board of Commissioners on Wednesday, June 8th, 2011, at 4:00 p.m., in the 8th Floor Board Room of the Administration Building located at 541 North Fairbanks Court, Chicago, Illinois 60611.

Kantrice Ogletree Secretary [May 11, 2011] [JOURNAL OF PROCEEDINGS] P a g e | 14

Journal of Proceedings

OF THE BOARD OF COMMISSIONERS OF THE

CHICAGO PARK DISTRICT



Regular Meeting held on Wednesday, June 8, 2011, at 4:00 p.m.

Held in the 8th Floor Board Room of the Administration Building at 541 North Fairbanks Court Chicago, Illinois 60611

OFFICIAL RECORD Present: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice-President Pickens, President Traubert-6

Absent: None

CALL TO ORDER On Wednesday, June 8, 2011, at four-ten in the afternoon (the day and hour appointed for the meeting), President Traubert called the board to order.

QUORUM The secretary called the roll of members and there was found to be a quorum present.

[Page | 16] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

RESOLUTION HONORING TIMOTHY J. MITCHELL AS PARK SUPERINTENDENT AND CHIEF EXECUTIVE OFFICER: (1)

The secretary submitted a resolution honoring Timothy J. Mitchell as the Superintendent and Chief Executive Officer of the Chicago Park District.

The resolution was read into the record by President Traubert.

The Resolution can be found as Exhibit A on page 24 to page 25 of the Regular Board Meeting held on June 8, 2011.

President Traubert moved that the matter be adopted. The motion prevailed and the resolution was adopted by a roll call vote of yeas and nays as follows:

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6 Nays: None

RESOLUTION APPROVING RATES UNDER THE PREVAILING WAGE ACT: (2)

The secretary submitted the resolution approving rates under the Prevailing Wage Act.

The Resolution can be found as Exhibit B on page 26 to page 27 of the Regular Board Meeting held on June 8, 2011.

President Traubert moved that the matter be adopted. The motion prevailed and the resolution was adopted by a roll call vote of yeas and nays as follows:

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6 Nays: None

JOURNAL OF PROCEEDINGS: (3)

The secretary presented the minutes from both the Public Hearing and Annual Board Meeting held on May 11, 2011.

President Traubert moved that the matter be adopted. The motion prevailed and the resolution was adopted by a roll call vote of yeas and nays as follows:

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6 Nays: None

PRESENTATION FROM THE DEPARTMENTS: (4)

Update on the Taste of Chicago by the Chief Operating Officer, Michael P. Kelly.

Presentation of Awards to the Comptroller’s Office for the 2009 Comprehensive Financial Report (CAFR) and Popular Financial Report (PAFR). [June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 17

PEOPLE IN THE PARKS: (5)

Sylvia Jones, President of the West Chatham Park Advisory Council, thanked Superintendent Mitchell for his service and professional demeanor. Ms. Jones resubmitted a request for an attendant at her park stating that currently they are forced to share an employee between several parks. She also requested that the tennis courts be resurfaced.

Cecilia Butler, Washington Park Advisory Council, updated the commissioners that her parks have found a location in Washington Park to put Coast Guard boats. She also listed the positive work done at Washington Park over the years with the help of Superintendent Mitchell, stating that he has made a great difference.

Dorothy Watts, President of Meyering Park Advisory Council, alerted the commissioners about a vacant position of park supervisor that they hope to have filled immediately. Additionally, she believes another recreation leader would be helpful for their programs.

George Blakemore, thanked the Board and Superintendent Mitchell for embracing technology and making the meetings transparent and visible to all citizens.

Leroy Bowers, Washington Park, thanked the commissioners for all the work done in his park. He thanked staff members for fixing the drainage system and installing bleachers in the ball fields. Mr. Bowers also requested assistance with a program to train and prepare youths for the Coast Guard Academy.

Rachel Goodstein, thanked Tim Mitchell for his service and congeniality stating that he did a fantastic job over the years.

Maria Stone, Friends of the Parks, requested that the Chicago Park District initiate the process to name the children’s playground in Cole Park after Thomas Wortham, IV, the former president of the Cole Park Advisory Council, and a Chicago Police Officer who was tragically killed in the line of duty.

Irma Tranter, Friends of the Parks, thanked Tim Mitchell for his 10 years as Superintendent of the Chicago Park District. Ms. Tranter praised his accomplishments including the addition of 1000 acres of parks to the city, resistance to raise property taxes, improved maintenance, aggressive TIF acquisition, recruitment of thousands of volunteers, and over 100 brand new playgrounds.

Bob O’Neil, Grant Park Conservancy, thanked Tim Mitchell for his service praising his public and private partnerships that allowed him to avoid raising taxes and introduce successful events such as Lollapalooza.

Mark Heller, Logan Boulevard Skate Park, thanked the Park District for cultivating a relationship with the Maloof Skateboarding Assistance Foundation. He explained that their competition called the Maloof Money Cup seeks a host city to build a new world class permanent concrete skate park, and that it would be beneficial for Chicago to bid as a host city. In addition, Mr. Heller invited the public to an amateur skating competition at the new Logan Boulevard Skate Park.

Enrique Munoz, congratulated the Superintendent and requested an apology on behalf of Michael Rohman, who was issued a statement he perceived as disrespectful regarding his rejection from the Taste of Chicago Latin Night.

[Page | 18] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

COMMITTEE ON ADMINISTRATION

ORDINANCE AUTHORIZING THE ISSUE, SALE AND DELIVERY OF NOT-TO-EXCEED $40,000,000 GENERAL OBLIGATION LIMITED TAX PARK BONDS, SERIES 2011A: $25,000,000 GENERAL OBLIGATION LIMITED TAX REFUNDING BONDS, SERIES 2011B; $82,000,000 GENERAL OBLIGATION UNLIMITED TAX REFUNDING BONDS, SERIES 2011C (PERSONAL PROPERTY REPLACEMENT TAX ALTERNATE REVENUE SOURCE); AND $31,000,000 GENERAL OBLIGATION UNLIMITED TAX REFUNDING BONDS, SERIES 2011D: (6)

The Chicago Park District recommends that the Board of Commissioners (the “Board”) adopt four ordinances to authorize and provide for the issue, sale, and delivery of bonds in amounts not to exceed the following sums (collectively, the “Bonds”): (i) $40,000,000 General Obligation Limited Tax Park Bonds, Series 2011A, in one or more series, for the purpose of financing the cost of building, maintaining and improving parks; (ii) $25,000,000 General Obligation Limited Tax Refunding Bonds, Series 2011B, in one or more series, for the purpose of refunding certain outstanding debt obligations of the District; (iii) $82,000,000 General Obligation Unlimited Tax Refunding Bonds, Series 2011C (Personal Property Replacement Tax Alternate Revenue Source), in one or more series, for the purpose of refunding certain outstanding debt obligations of the District; and (iv) $31,000,000 General Obligation Unlimited Tax Refunding Bonds, Series 2011D, in one or more series, for the purpose of refunding certain outstanding debt obligations of the District. The ordinances also authorize the execution of bond orders prescribing the details of the Bonds, payment of capitalized interest and costs of issuance, and the collection of direct annual taxes for the payment of the principal and interest on the Bonds. The General Superintendent and other officers of the District are authorized to do, or cause to be done, all things necessary to accomplish the issuance of the Bonds.

The Ordinances can be found as Exhibit C on page 28 to page 212 of the Regular Board Meeting held on June 8, 2011.

President Traubert moved that the matter be adopted. The motion prevailed and the resolution was adopted by a roll call vote of yeas and nays as follows:

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6 Nays: None

MODIFICATION TO THE ILLINOIS RESTAURANT ASSOCIATION, TASTE OF CHICAGO AGREEMENT: (7)

The Chicago Park District recommends that the Board of Commissioners (the “Board”) enter an order modifying the scope and authorization amount of the contract with the Illinois Restaurant Association (“IRA”) for services and supplies for the 2011 Taste of Chicago (the “Event”), previously approved by the Board of Commissioners on March 9, 2011. The contract is for one (1) years and is in an amount not to exceed $2,500,000.00. The proposed modification will allow the Park District to expand the previously approved authorization amount to account for reimbursable expenses the IRA will incur in performing its duties under the contract.

[June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 19

President Traubert moved that the matter be adopted. The motion prevailed and the resolution was adopted by a roll call vote of yeas and nays as follows:

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6 Nays: None

COMMITTEE ON PROGRAMS AND RECREATION

AUTHORITY TO CHANGE THE GENERAL ADMISSION FEE AT THE ADLER PLANETARIUM: (8)

The Chicago Park District recommends that the Board of Commissioners (the “Board) authorize an increase in the general admission fees of the Adler Planetarium. The museum has had much success in raising private, state, and federal funds for their efforts, but the high quality of offerings demands the museum analyze every portion of revenue including admissions. This proposal is for an increase of $2 in general admission, bringing the price to $12, while Chicago residents will continue to receive a $2 discount on admission for adults and seniors, and a $1 discount on admission for children.

President Traubert moved that the matter be deferred and published. The motion prevailed and the resolution was deferred and published by a roll call vote of yeas and nays as follows:

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6 Nays: None

COMMITTEE ON CAPITAL IMPROVEMENTS

AUTHORIZATION TO ENTER INTO A CONTRACT FOR REDEVELOPMENT OF PARK 510: (9)

The Chicago Park District recommends that the Board of Commissioners (the “Board”) authorize the General Superintendent and CEO or his designee, to enter into a contract with Graef-USA, Inc., for park improvements at Park 510. The Chicago Park District (“CPD”) will be undertaking the improvement of the athletic fields, pathways, passive space, utilities, and park amenities at Park 510. The Park District will also be expanding the park to the east and closing a portion of Leavitt Street. The goal is to build an engaging, attractive, safe, and accessible park for patrons, children and families of all abilities.

Park 510 (Livingston Field) is located at 2162 W Polk, 25th Ward, in the Near West Side Community Area. The contract is for a period of one (1) year in an amount Not-to-exceed $233,201.61.The Minority and Women-owned Participation for this contract include: 26.75% Minority-owned and 5.34% Women-owned.

President Traubert moved that the matter be adopted. The motion prevailed and the resolution was adopted by a roll call vote of yeas and nays as follows:

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6 Nays: None [Page | 20] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

AUTHORIZATION TO ENTER INTO A CONTRACT FOR CONSTRUCTION SERVICES OF THE BROADWAY ARMORY REHABILITATION: INDOOR RUNNING TRACK: (10)

The Chicago Park District recommends that the Board of Commissioners (the “Board”) authorize the General Superintendent and CEO or his designee, to enter into a contract award with Scale Construction, Inc. for Construction Services for the Rehabilitation of the Indoor Running Track at the Broadway Armory. The contract is for 90 Consecutive Calendar Days from NTP schedule in an amount not-to-exceed $2,079,437.00. This project fulfills in part a Collaborative License Agreement with Loyola University of Chicago authorized by the Chicago Park District Board of Commissioners on April 13, 2011. The Minority and Women Owned Participation for this contract include: 25 % Minority-Owned, and 5 % Women-Owned.

President Traubert moved that the matter be deferred and published. The motion prevailed and the resolution was deferred and published by a roll call vote of yeas and nays as follows:

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6 Nays: None

AUTHORIZATION TO ISSUE FINAL PAYMENT FOR WORK COMPLETED IN CONNECTION WITH (PARK 542) MARY BARTELME PARK: (11)

The Chicago Park District recommends that the Board of Commissioners (the “Board”) Commissioners approve final payment in the amount of $84,576.87 in favor of The Lombard Company for work completed in connection with Park 542, Mary Bartelme Park. Mary Bartelme Park is located at 115 South Sangamon Ave, 2nd Ward, in the Near West Side Community Area. The Minority and Women Owned Participation for this contract include: 38 % Minority-Owned, and 7 % Women-Owned.

ORDERED, that payment be authorized of final estimates as hereinafter indicated for labor, materials, and equipment furnished under the specified contracts, on receipt of assurances that the contractors are not making any extraordinary claims and upon delivery of proper releases, which shall be in form approved by the General Counsel:

Contractor Contract & Date Aggregate Amount of Final Earned Amount Payment The Lombard Company $3,991,000.00 8-12-09 $3,749,367.00 $84,576.87

President Traubert moved that the matter be adopted. The motion prevailed and the resolution was adopted by a roll call vote of yeas and nays as follows:

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6 Nays: None

AUTHORIZATION TO ISSUE FINAL PAYMENT FOR WORK COMPLETED IN CONNECTION WITH ARTIFICUAL TURF FIELDS AT LINCOLN, KIWANIS AND HAWTHORN SCHOOL PARKS: (12) [June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 21

The Chicago Park District recommends that the Board of Commissioners (the “Board”) Commissioners approve final payment in the amount of $103,344.07 in favor of Chicagoland Paving Contractors for work completed in connection with Lincoln, Kiwanis, and Hawthorn School Parks.

Lincoln Park is located at 2045 North Lincoln Park, 42nd , 43rd , 44th , 46th , 48th Wards, in the Lincoln Park Community Area.

Kiwanis Park is located at 3315 West Carmen Avenue, 39th Ward, in the Rogers Park Community Area.

Hawthorn Park is located at 1200 West 77th Street, 17th Ward, in the Auburn-Gresham Community Area.

The Minority and Women Owned Participation for this contract include: 25 % Minority- Owned, and 8 % Women-Owned.

Contractor Contract & Date Aggregate Amount of Final Earned Amount Payment Chicagoland Paving $1,752,382.00 5-13-09 $1,649,037.93 $103,344.07 Contractors, Inc.

President Traubert moved that the matter be adopted. The motion prevailed and the resolution was adopted by a roll call vote of yeas and nays as follows:

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6 Nays: None

COMMITTEE OF THE WHOLE

EXECUTIVE SESSION: (13)

(1) The appointment, employment, compensation, discipline, performance, or dismissal of specific employees (2) Collective negotiating matters Discussion (3) Selection of a person to fill a public office Only (5) The purchase or lease of real property (6) The setting of a price for sale or lease of property (7) Sale or purchase of securities, investments or investment contracts (11) Litigation (12) Establishment of reserves or settlement of claims, or the review of claims, loss or risk management information.

[Page | 22] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

OPEN SESSION: (14, 15)

The Board of Commissioners, per the Code of the Chicago Park District Chapter II, Section A, Subsection 16 (d), approved the destruction of Verbatim Records for the following Executive Session Minutes: (14)

May 14, 2008 June 11, 2008 September 3, 2008 September 9, 2009 October 14, 2009 December 9, 2009

The Board of Commissioners, per the Code of the Chicago Park District, Chapter II Section A, Subsection 16 (f), (2), will no longer continue to withhold the Executive Session Minutes for May 13, 2009 from public inspection because the need for confidentiality no longer exists and are additionally approving the release of the following written minutes for public inspection: (15)

December 11, 2010 January 12, 2011 February 9, 2011 April 16, 2011

President Traubert moved that the matter be adopted. The motion prevailed and the resolution was adopted by a roll call vote of yeas and nays as follows:

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6 Nays: None

UNFINISHED BUSINESS: (16)

NEW BUSINESS

RESIGNATION OF TIMOTHY J. MITCHELL AS GENERAL SUPERINTENDENT OF THE CHICAGO PARK DISTRICT: (17)

The Chicago Park District recommends that the Board of Commissioners (the “Board”) approve the resignation of Timothy J. Mitchell as General Superintendent of the Chicago Park District.

President Traubert moved that the matter be adopted. The motion prevailed and the resolution was adopted by a roll call vote of yeas and nays as follows:

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, President Traubert-5 Nays: None Abstained: Vice President Pickens

[June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 23

NOMINATION OF MICHAEL P. KELLY AS INTERIM GENERAL SUPERINTENDENT OF THE CHICAGO PARK DISTRICT: (18)

The Chicago Park District recommends that the Board of Commissioners (the “Board”) approve the nomination of Michael P. Kelly as Interim General Superintendent of the Chicago Park District.

President Traubert moved that the matter be adopted. The motion prevailed and the resolution was adopted by a roll call vote of yeas and nays as follows:

Yeas: Commissioners: Shalabi, Koldyke, Hanlon, Rangel, Vice President Pickens, President Traubert-6 Nays: None

ADJOURNMENT: (19)

The President announced that the applicable provisions of the Code of the Chicago Park District fixed the time for the Annual Scheduled Meeting of the Board of Commissioners on Wednesday, June 8, 2011, at 4:00 p.m. in the 8th Floor Board Room of the Administration Building located at 541 North Fairbanks Court, Chicago, Illinois 60611. No further business was presented and President Traubert moved that the Board of Commissioners adjourn.

The motion prevailed and the Board stood adjourned to meet again for a Regular Meeting of the Board of Commissioners on Wednesday, July 13th, 2011, at 4:00 p.m., in the 8th Floor Board Room of the Administration Building located at 541 North Fairbanks Court, Chicago, Illinois 60611.

Kantrice Ogletree Secretary

[Page | 24] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

EXHIBIT A

A resolution

adopted by The Board of Commissioners of the Chicago Park District, Illinois

Presented by Bryan Traubert, Board President on June 8, 2011

WHEREAS, since February of 2004, Timothy J. Mitchell has served the Chicago Park District as the General Superintendent and CEO making him the 2nd longest serving Superintendent; and

WHEREAS, Superintendent Mitchell has implemented new programming, committees and playground standards to provide an inclusive park system for patrons, ensuring that every Chicagoan can participate in park programs and events; and

WHEREAS, Superintendent Mitchell has successfully added approximately 800 acres of new park land; and

WHEREAS, Superintendent Mitchell has improved numerous playground facilities and has increased the number of fieldhouses, beachhouses, playgrounds, fitness centers, athletic fields and harbors, including the implementation of a $25 million ADA capital improvement program; and

WHEREAS, under Superintendent Mitchell’s tenure property taxes were not increased in the last six years in part to his fostering of Public & Private Partnerships; and

WHEREAS, Superintendent Mitchell worked closely with all elected officials, both City and State- wide, and as a result of his lobbying efforts was able to secure over $100 Million for park development; and

WHEREAS, Superintendent Mitchell worked with Parkways Foundation to increase annual giving from $400,000 to $4 million, some of which can be attributed to his efforts in maintaining downtown’s largest music festival - Lollapalooza; and

WHEREAS, prior to his role at the Park District, Superintendent Mitchell worked for the City of Chicago. He joined the City in 1989 as Managing Deputy Commissioner of the Department of Human Services. In 1998 he became first Deputy Commissioner of the Department of General Services and was promoted to Commissioner the following year. In July, 2001, he joined the Mayor’s office as Chief of Infrastructure and Operations; and

[June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 25

WHEREAS, in addition to his extensive career experience, Superintendent Mitchell has served as member to various civic and non-profit boards, including City Parks Alliance, Parkways Foundation, Lincoln Park Zoo, Art Institute of Chicago, After School Matters, the Boys and Girls Town of Chicago, Gateway Green, Ravenswood Park Townhome Association, Special Children’s Charities and Neighborspace. Superintendent Mitchell also served as the World Commissioner representing North America for the International Federation of Parks and Recreation; then, therefore;

BE IT RESOLVED, that the Board President and the Board of Commissioners extend their heartfelt gratitude to Superintendent Mitchell for his years of service to the Chicago Park District and to the people of the City of Chicago, and that a suitable copy of this resolution be presented to Superintendent Mitchell on this 8th day of June 2011.

Bryan Traubert President, Board of Commissioners

[Page | 26] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

Exhibit B

[June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 27

[Page | 28] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

Exhibit C

ORDINANCE NUMBER ______

AN ORDINANCE authorizing and providing for the issue, sale, and delivery of not to exceed $40,000,000 General Obligation Limited Tax Park Bonds, Series 2011A, in one or more series, of the Chicago Park District for the purpose of paying a part of the cost of building, maintaining, and improving parks, the execution of one or more bond orders in connection therewith, prescribing the details of said bonds, and providing for the levy and collection of a direct annual tax for the payment of the principal of and interest on said bonds.

Adopted by the Board of Commissioners on the 8th day of June 2011.

[June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 29

TABLE OF CONTENTS PAGE

PREAMBLES ...... 30 SECTION 1. DEFINITIONS ...... 32 SECTION 2. INCORPORATION OF PREAMBLES ...... 37 SECTION 3. DETERMINATION TO ISSUE BONDS; FINDING AS TO THE DEBT LIMIT ...... 37 SECTION 4. BOND DETAILS ...... 37 SECTION 5. BOOK ENTRY FORM ...... 39 SECTION 6. EXECUTION; AUTHENTICATION ...... 40 SECTION 7. REDEMPTION ...... 41 SECTION 8. REDEMPTION PROCEDURES ...... 42 SECTION 9. REGISTRATION OF BONDS; PERSONS TREATED AS OWNERS ...... 47 SECTION 10. FORM OF BOND ...... 48 SECTION 11. SALE OF BONDS; CERTAIN CONDITIONS OF SALE ...... 55 SECTION 12. SECURITY FOR THE BONDS AND CERTAIN COVENANTS AND RESERVATIONS ...... 57 SECTION 13. TAX LEVY ...... 57 SECTION 14. FILING OF ORDINANCE ...... 59 SECTION 15. USE OF BOND PROCEEDS; CREATION OF ACCOUNTS ...... 59 SECTION 16. GENERAL TAX COVENANTS ...... 61 SECTION 17. PERTAINING TO THE BOND REGISTRAR ...... 62 SECTION 18. MUNICIPAL BOND INSURANCE POLICY ...... 64 SECTION 19. CONTINUING DISCLOSURE UNDERTAKING ...... 64 SECTION 20. DEFEASANCE ...... 65 SECTION 21. ORDINANCE A CONTRACT ...... 66 SECTION 22. OFFICERS AND EMPLOYEES OF THE DISTRICT ...... 66 SECTION 23. SEVERABILITY...... 66 SECTION 24. SUPERSEDER; PUBLICATION; EFFECTIVE DATE ...... 67

[Page | 30] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

ORDINANCE NUMBER ______

WHEREAS A. The Chicago Park District, located in Cook and DuPage Counties, Illinois (the

“District”) is a park district, body politic and corporate, and unit of local government of the

State of Illinois, organized under the Chicago Park District Act of the State of Illinois, as amended (the “ Act” ).

B. In addition to the Act, the District operates, inter alia, under the following Illinois acts and laws, in each case as amended:

1. the Local Government Debt Reform Act (“Debt Reform Act”) relating to

borrowing; and

2. the Property Tax Extension Limitation Law (the “Limitation Law”) relating

to certain ad valorem property tax limits.

C. The District is governed by a duly constituted Board of Commissioners (the

“Board”), and the tax extension officers for the District are the County Clerks of The Counties of Cook and DuPage, Illinois (the “County Clerks”).

D. Pursuant to the provisions of Section 20 of the Act, the District is authorized to issue bonds for the payment of land condemned or purchased for park or boulevards and for the building, maintaining, improving and protecting of same, and as such purposes are further enumerated in Section 20 of the Act, and including costs of issuance of bonds issued for such [June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 31

purposes and other related incidental costs (collectively, the “Park Purposes”), such bonds being

payable within 30 years from the time when issued and without prior referendum approval in an

amount which, together with the outstanding bonded indebtedness of the District, exclusive of

bonds issued to create a working cash fund or otherwise not to be counted against the bonded

indebtedness limit of the District as set forth in said Section 20, will not exceed one percent (1%)

of the assessed valuation of all taxable property therein as last equalized and determined for state

and local taxes.

E. The District has a capital improvement plan adopted by the Board (the “Plan”),

subject to amendment for such other park purposes as the Board may determine as hereinafter

provided, indicating a need for funds for the payment of the costs of the Park Purposes, in the

years 2010 through 2014, of not less than $391,522,000.

F. The bonds so authorized under Section 20 of the Act may be issued as “limited bonds” under the provisions of Section 15.01 of the Debt Reform Act.

G. The Board deems it necessary and advisable at this time to authorize the issuance, sale and delivery at this time of not to exceed $40,000,000 of bonds for such purposes.

H. Pursuant to the Bond Issue Notification Act (of the State of Illinois), as amended, the Board duly called, noticed by publication and posting, held and adjourned public hearings, on the 14th day of April 2010 and the 11th day of May 2011, with respect to the bonds for the projects and purposes as herein authorized.

I. The Board has determined it to be advisable to authorize the issuance of bonds for the Park Purposes at this time, in one or more series of bonds, as provided in this Ordinance, in the aggregate principal amount of not to exceed $40,000,000.

NOW, THEREFORE, Be It Ordained by the Board of Commissioners of the Chicago Park

District as follows: [Page | 32] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

Section 1. Definitions.

A. Words and terms used in this Ordinance shall have the meanings assigned them

unless the context or use clearly indicates another or different meaning is intended. Words and

terms defined in the singular may be used in the plural and vice-versa. Reference to any gender shall be deemed to include the other and also inanimate persons such as corporations, where applicable.

“ Act” is defined in the preambles.

“Applicable Law” means the Act, the Debt Reform Act, and other applicable

Illinois law supplementary thereto.

“Available Base” means the amount of extension of taxes available to the District

in any given Bond Year under the Debt Service Extension Base after subtracting

extensions for all previously issued bonds the extension for which will be chargeable

against the Debt Service Extension Base in such year.

“Board” is defined in the preambles.

“Bond Account” means the Bond Account as established and defined in

Section 15 of this Ordinance.

“Bond Moneys” means the Pledged Taxes and any other moneys properly held in

the Bond Account.

“Bond Order” means a Bond Order as authorized to be executed by the

Designated Officers of the District as set forth in Section 11 of this Ordinance and by

which final terms of the Bonds will be established.

“Bond Purchase Agreement” is defined in Section 11 of this Ordinance.

“Bond Register” means the books of the District kept by the Bond Registrar to

evidence the registration and transfer of the Bonds. [June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 33

“Bond Registrar” means the Treasurer of the District, or, as approved in the Bond

Order, any bank or trust company, having trust powers, and also having a corporate trust

office in Chicago, Illinois, and either having capital and surplus in excess of

$100,000,000 or having been designated by the District in such a capacity within the last

three (3) years, acting in the capacity as both bond registrar and paying agent for the

Bonds.

“Bond Year” means the period from January 2 of a given year through January 1

of the following year.

“Bonds” means the not to exceed $40,000,000 General Obligation Limited Tax

Park Bonds, Series 2011A authorized to be issued, sold and delivered in one or more

series pursuant to this Ordinance.

“Book Entry Form” means the form of the Bonds as fully registered and available

in physical form only to the Depository.

“Code” means the Internal Revenue Code of 1986, as amended.

“Counties” means The County of Cook and The County of DuPage, Illinois.

“County Clerks” is defined in the preambles.

“Current Collection” means the taxes in fact paid and received by the District

from the respective County Treasurer from a given Extension up to the date payment is

due upon bonds, which payment is to be made from such Extension, plus that amount, if

any, received in the year preceding such payment date as the collection of delinquent

taxes from prior years allocable to the levy for all Limited Bonds of the District and

General Funds.

“Debt Reform Act” is defined in the preambles. [Page | 34] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

“Debt Service Extension Base” means the debt service extension base of the

District as provided by the Limitation Law.

“Depository” means The Depository Trust Company, New York, New York, or

its successors, or a successor depository qualified to clear securities under applicable

state and federal laws.

“Designated Officers” means any two of the following four officers of the

District, acting in concert: the General Superintendent & CEO, the Chief Financial

Officer, the Treasurer, and any Commissioner; and in the event any of such first three

offices is then vacant, the acting or interim officer or officers in such positions.

“District” is defined in the preambles.

“Expense Account” means the fund established hereunder and further described

in Section 15 of this Ordinance.

“Extension” means the amount of taxes in fact extended for collection by the

County Clerks based upon a levy, which extension is calculable by the sum of taxable

property multiplied by the rate (in percent, mils or decimal, as appropriate) of taxation

applied for such levy.

“Financial Advisor” means Public Finance Advisors LLC, the financial advisor

to the District for the sale of the Bonds.

“Future Limited Bonds” means Limited Bonds to be issued by the District in the

future.

“General Funds” means any and all funds of the District, other than the Bond

Account, from which payments may lawfully be made to pay principal of or interest on

the Bonds.

“Limitation Law” is defined in the preambles. [June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 35

“Limited Bonds” means limited bonds issued under Section 15.01 of the Debt

Reform Act.

“Loss in Current Collection” means the difference between an Extension and the

Current Collection from such Extension.

“Municipal Bond Insurance Policy” means a policy or surety contract

guaranteeing to the registered owners of Bonds the payment of the principal of and

interest on Bonds.

“Nonreferendum Base Bonds” means bonds of any kind, other than Limited

Bonds, the levy (and resulting Extension) for which is chargeable against (i.e., deductible

from) the Debt Service Extension Base in a given year.

“Ordinance” means this Ordinance, numbered as shown on the title page hereof,

and adopted by the Board on the 8th day of June 2011.

“Park Purposes” is defined in the preambles.

“Pledged Taxes” means the taxes levied on the taxable property within the

corporate limits of the District to pay principal of and interest on the Bonds as provided

in Section 13 of this Ordinance.

“Pricing Consultant” means Delphis Hanover Corporation or such firm as shall

be designated by the District in the Bond Order.

“Prior Limited Bonds” means Limited Bonds previously issued for which taxes

have been levied which are allocable to the Debt Service Extension Base, the listing of

which is on file in the office of the Treasurer.

“Project Account” means the Project Account as established and defined in

Section 15 of this Ordinance. [Page | 36] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

“Purchase Price” means the price to be paid by the Purchasers for the Bonds,

to-wit: not less than 98% of the original principal amount thereof plus accrued interest to

the date of delivery.

“Purchasers” means William Blair & Company, L.L.C., Morgan Stanley & Co.

Incorporated, Siebert Brandford Shank & Co., L.L.C., BMO Capital Markets GKST Inc.,

and North South Capital LLC, and such additional firms as may be added by the District

in accordance with its procedures prior to the sale of Bonds.

“Record Date” means the 15th day of the month preceding any regular or other

interest payment date occurring on the first day of any month and 15 days preceding any

interest payment date occasioned by the redemption of Bonds on other than the first day

of a month.

“Representations Letter” means such agreement or agreements by and among the

District, the Bond Registrar and the Depository as shall be necessary to effectuate a Book

Entry Form for the Bonds, and includes expressly any Blanket Letter of Representations

as may have previously been given.

“Rule” means Rule 15c2-12 as promulgated by the Securities and Exchange

Commission.

“Secretary” means the Secretary of the Board and of the District.

“ Tax-exempt” means, with respect to the Bonds, the status of interest paid and

received thereon as excludable from the gross income of the owners thereof under the

Code for federal income tax purposes, except to the extent that such interest will be taken

into account in computing an adjustment used in determining the alternative minimum

tax for certain corporations.

“Term Bonds” means Bonds subject to mandatory redemption by operation of the

Bond Account and designated as Term Bonds in the Bond Order. [June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 37

“Treasurer” means the Treasurer of the District.

B. Definitions also appear in the preambles or in specific sections. The headings in, and the table of contents preceding, this Ordinance are for the convenience of the reader and are not a part of this Ordinance.

Section 2. Incorporation of Preambles. The Board hereby finds that all of the recitals contained in the preambles to this Ordinance are true, correct and complete and does incorporate them into this Ordinance by this reference.

Section 3. Determination to Issue Bonds; Finding as to the Debt Limit. It is necessary and in the best interests of the District to provide for payment of the costs of the Park Purposes, and to pay all related costs and expenses incidental thereto, including capitalized interest, and to borrow money and issue the Bonds for such purposes. The Board hereby finds and determines that, upon the issuance of the Bonds, the aggregate outstanding bonded indebtedness of the

District, exclusive of bonds issued to create a working cash fund or otherwise not to be counted against the bonded indebtedness limit of the District as set forth in the Act, will not exceed one percent (1%) of the assessed valuation of all taxable property therein as last equalized and determined for state and local taxes.

Section 4. Bond Details. For the purpose of providing for the payment of the costs of the Park Purposes, there are hereby authorized to be issued and sold Bonds in an aggregate principal amount not to exceed $40,000,000. The Bonds may be issued in one or more series

(each a “Series”). The Bonds shall each be designated “General Obligation Limited Tax Park

Bond, Series 2011A” or such other series designation as may be stated in a Bond Order. The

Bonds shall be in fully registered form and also in Book Entry Form. The Bonds shall be dated as of a date not earlier than June 1, 2011, and not later than their initial date of issuance (the

“Dated Date”), as shall be set forth in a Bond Order; each Bond shall also bear its respective [Page | 38] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011] date of authentication; and the Bonds shall be numbered consecutively within each Series in such reasonable manner as the Bond Registrar shall determine. The Bonds shall become due or subject to mandatory redemption (and subject to right of prior redemption) on January 1 of any year (or all years) up to and including a date not more than 25 years from the Dated Date (each a

“maturity” for the Bonds), in such amounts as shall be set forth in a Bond Order; provided, however, that the sum of the principal of and interest on the Bonds due or subject to mandatory redemption in any Bond Year shall not exceed the Available Base. The Bonds shall bear interest at a rate not to exceed six percent (6.00%) per annum. The Bonds shall be in denominations of

$5,000 or integral multiples thereof (but no single such bond shall represent principal maturing on more than one date). Each Bond shall bear interest from the later of its Dated Date or from the most recent interest payment date to which interest has been paid or duly provided for, semiannually in each year, commencing not earlier than January 1, 2012, and not later than

July 1, 2012, as shall be set forth in a Bond Order, at the respective rates percent per annum provided, until the principal thereof shall be paid or duly provided for. So long as the Bonds are held in Book Entry Form, interest on each Bond shall be paid to the Depository by check or draft or electronic funds transfer, in lawful money of the United States of America, as may be agreed by the District and the Depository; in the event the Bonds should ever become available in physical form to registered owners other than the Depository, interest on each Bond shall be paid by check or draft of the Bond Registrar, payable upon presentation thereof in lawful money of the United States of America, to the person in whose name such Bond is registered at the close of business on the applicable Record Date, and mailed to the address of such registered owner as it appears on the Bond Register or at such other address as may be furnished in writing to the Bond

Registrar prior to the Record Date. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. The principal of the Bonds shall be payable upon presentation at the [June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 39

office designated for such purpose of the Bond Registrar. The Bonds may be Term Bonds as

provided in the Bond Order.

Section 5. Book Entry Form. The Bonds shall be initially issued in the form of a

separate single fully registered Bond for each of the maturities of each Series of the Bonds.

Upon initial issuance, the ownership of each such Bond shall be registered in the Bond Register

in the name of the Depository or in such name as may be provided by the Depository (the “Book

Entry Owner”). The Treasurer is authorized to execute a Representations Letter or to utilize the

provisions of an existing Representations Letter with respect to such Bonds. Without limiting

the generality of the authority given with respect to entering into the Representations Letter for

the Bonds, it may contain provisions relating to (a) payment procedures, (b) transfers of the

Bonds or of beneficial interests therein, (c) redemption notices and procedures unique to the

Depository, (d) additional notices or communications, and (e) amendment from time to time to

conform with changing customs and practices with respect to securities industry transfer and

payment practices. With respect to Bonds registered in the Bond Register in the name of the

Book Entry Owner, neither the District nor the Bond Registrar shall have any responsibility or

obligation to any broker-dealer, bank, or other financial institution for which the Depository

holds Bonds from time to time as securities depository (each such broker-dealer, bank, or other financial institution being referred to herein as a “Depository Participant”) or to any person on

behalf of whom such a Depository Participant holds an interest in the Bonds. Without limiting

the meaning of the immediately preceding sentence, neither the District nor the Bond Registrar

shall have any responsibility or obligation with respect to (a) the accuracy of the records of the

Depository, the Book Entry Owner, or any Depository Participant with respect to any ownership

interest in the Bonds; (b) the delivery to any Depository Participant or any other person, other

than a registered owner of a Bond as shown in the Bond Register or as expressly provided in the [Page | 40] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

Representations Letter, of any notice with respect to the Bonds, including any notice of

redemption; or (c) the payment to any Depository Participant or any other person, other than a registered owner of a Bond as shown in the Bond Register, of any amount with respect to principal of or interest on the Bonds. No person other than a registered owner of a Bond as shown in the Bond Register shall receive a Bond certificate with respect to any Bond. In the event that (a) the District determines that the Depository is incapable of discharging its responsibilities described herein or in the Representations Letter, (b) the agreement among the

District and the Depository evidenced by the Representations Letter shall be terminated for any

reason, or (c) the District determines that it is in the best interests of the District or of the

beneficial owners of a Series of the Bonds that they be able to obtain certificated Bonds; the

District shall notify the Depository of the availability of Bond certificates, and the Bonds of such

Series shall no longer be restricted to being registered in the Bond Register to the Book Entry

Owner. The District may determine at such time that the Bonds of such Series shall be registered

in the name of and deposited with a successor depository operating a book entry only system, as

may be acceptable to the District, or such depository’s agent or designee, but if the District does

not select such successor depository, then the Bonds of such Series shall be registered in

whatever name or names registered owners of Bonds transferring or exchanging Bonds shall

designate, in accordance with the provisions hereof.

Section 6. Execution; Authentication. The Bonds shall be signed by the manual or

duly authorized facsimile signatures of the President and Secretary of the District as they may

determine, and shall be registered, numbered, and countersigned by the manual or duly

authorized facsimile signature of the Treasurer, as they may determine, and shall have impressed

or imprinted thereon the corporate seal or facsimile thereof of the District. In case any such

officer whose signature shall appear on any Bond shall cease to be such officer before the [June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 41

delivery of such Bond, such signature shall nevertheless be valid and sufficient for all purposes,

the same as if such officer had remained in office until delivery. All Bonds shall have thereon a

certificate of authentication, substantially in the form hereinafter set forth, duly executed by the

Bond Registrar as authenticating agent of the District and showing the date of authentication. No

Bond shall be valid or obligatory for any purpose or be entitled to any security or benefit under this Ordinance unless and until such certificate of authentication shall have been duly executed by the Bond Registrar by manual signature, and such certificate of authentication upon any such

Bond shall be conclusive evidence that such Bond has been authenticated and delivered under this Ordinance. The certificate of authentication on any Bond shall be deemed to have been executed by it if signed by an authorized signatory of the Bond Registrar, but it shall not be necessary that the same person sign the certificate of authentication on all of the Bonds issued hereunder.

Section 7. Redemption. The Bonds of each Series having maturities beyond ten and

one-half (10-1/2 years) shall be made subject to optional redemption and the Bonds of such

Series having earlier maturities may be made subject to optional redemption as provided in the related Bond Order on any date on or after that date which is not longer than ten and one-half

(10-1/2) years from their Dated Date at a price not to exceed 102% of the principal amount

thereof plus accrued interest to the redemption date, and in the event of partial redemption,

among such maturities of a Series as the District may determine, and in integral multiples of

$5,000. Bonds designated as Term Bonds in a Bond Order shall be made subject to mandatory

redemption by operation of the Bond Account at a price of not to exceed par and accrued

interest, without premium, on a given maturity date of the years and in the amounts as shall be

provided in the Bond Order. Bonds subject to mandatory redemption shall be deemed, for

purposes of the limitations of this Ordinance, to become due on the dates so subject to [Page | 42] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

redemption and not at maturity, except for any remainder to be paid at maturity. The District

covenants that it will redeem any Term Bonds pursuant to the mandatory redemption

requirement for such Term Bonds and levy taxes accordingly. If the District redeems pursuant to

optional redemption as may be provided or purchases Term Bonds of any maturity and cancels

such requirement, until the requirement for the current year has been fully met, and then in any

order of payment on the Term Bonds as due at maturity or subject to mandatory redemption in

any year as the District shall at such time determine. If the District redeems pursuant to optional

redemption or purchases Term Bonds of any maturity and cancels the same from moneys other

than Bond Moneys, then an amount equal to the principal amount of Term Bonds so redeemed or

purchased shall be deducted from the amount of such Term Bonds as due at maturity or subject

to mandatory redemption in any year as the District shall at such time determine.

Section 8. Redemption Procedures. The Bonds subject to redemption shall be identified, notice given, and paid and redeemed pursuant to the procedures as follows.

A. No Further Action for a Mandatory Redemption. For a mandatory

redemption, the Bond Registrar shall proceed to redeem Bonds without any further order

or direction from the District whatsoever.

B. Optional Redemption. For an optional redemption, the District shall, at

least 35 days prior to a redemption date (unless a shorter time period shall be satisfactory

to the Bond Registrar), notify the Bond Registrar of such redemption date and of the

maturities (and, if applicable, the scheduled mandatory redemptions affected) and

principal amounts of Bonds to be redeemed. [June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 43

C. Selection of Bonds within a Maturity. For purposes of any redemption of

less than all of the Bonds of a single Series and maturity, the particular Bonds or portions

of Bonds to be redeemed shall be selected by lot by the Bond Registrar for the Bonds of

such maturity by such method of lottery as the Bond Registrar shall deem fair and

appropriate; provided, that such lottery shall provide for the selection for redemption of

Bonds or portions thereof so that any $5,000 Bond or $5,000 portion of a Bond shall be

as likely to be called for redemption as any other such $5,000 Bond or $5,000 portion.

The Bond Registrar shall make such selection prior to or upon the time of the giving of

official notice of redemption or, in the event of a refunding or defeasance of Bonds, at

such earlier time as being advised by the District that funds have been set aside to defease

such Bonds in accordance with the defeasance provisions of this Ordinance.

D. Official Notice of Redemption . The Bond Registrar shall promptly notify

the District in writing of the Bonds or portions of Bonds selected for redemption and, in

the case of any Bond selected for partial redemption, the principal amount thereof to be

redeemed. Unless waived by the registered owner of Bonds to be redeemed, official

notice of any such redemption shall be given by the Bond Registrar on behalf of the

District by mailing the redemption notice by first class U.S. mail not less than 20 days

and not more than 60 days prior to the date fixed for redemption to each registered owner

of the Bond or Bonds to be redeemed at the address shown on the Bond Register or at

such other address as is furnished in writing by such registered owner to the Bond

Registrar. All official notices of redemption shall include the name of the Bonds and at

least the information as follows:

(1) the redemption date;

(2) the redemption price; [Page | 44] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

(3) if less than all of the outstanding Bonds of a particular maturity are to

be redeemed, the identification (and, in the case of partial redemption of Bonds

within such maturity, the respective principal amounts) of the Bonds to be

redeemed;

(4) a statement that on the redemption date the redemption price will

become due and payable upon each such Bond or portion thereof called for

redemption and that interest thereon shall cease to accrue from and after said date;

and

(5) the place where such Bonds are to be surrendered for payment of the

redemption price, which place of payment shall be the office of the Bond

Registrar designated for such purpose.

E. Conditional Redemption. Unless moneys sufficient to pay the redemption

price of the Bonds to be redeemed shall have been received by the Bond Registrar prior

to the giving of such notice of redemption, such notice may, at the option of the District,

state that said redemption shall be conditional upon the receipt of such moneys by the

Bond Registrar on or prior to the date fixed for redemption. If such moneys are not

received, such notice shall be of no force and effect, the District shall not redeem such

Bonds, and the Bond Registrar shall give notice, in the same manner in which the notice

of redemption was given, that such moneys were not so received and that such Bonds will

not be redeemed.

F. Bonds Shall Become Due. Official notice of redemption having been

given as described, the Bonds or portions of Bonds so to be redeemed shall, subject to the

stated condition in paragraph (E) immediately preceding, on the redemption date, become

due and payable at the redemption price therein specified, and from and after such date [June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 45

(unless the District shall default in the payment of the redemption price) such Bonds or

portions of Bonds shall cease to bear interest. Upon surrender of such Bonds for

redemption in accordance with said notice, such Bonds shall be paid by the Bond

Registrar at the redemption price. The procedure for the payment of interest due as part

of the redemption price shall be as herein provided for payment of interest otherwise due.

G. Insufficiency in Notice Not Affecting Other Bonds; Failure to Receive

Notice; Waiver. Neither the failure to mail such redemption notice, nor any defect in any

notice so mailed, to any particular registered owner of a Bond, shall affect the sufficiency

of such notice with respect to other registered owners. Notice having been properly

given, failure of a registered owner of a Bond to receive such notice shall not be deemed

to invalidate, limit or delay the effect of the notice or redemption action described in the

notice. Such notice may be waived in writing by a registered owner of a Bond entitled to

receive such notice, either before or after the event, and such waiver shall be the

equivalent of such notice. Waivers of notice by registered owners shall be filed with the

Bond Registrar, but such filing shall not be a condition precedent to the validity of any

action taken in reliance upon such waiver. In lieu of the foregoing official notice, so long

as the Bonds are held in Book Entry Form, notice may be given as provided in the

Representations Letter, and the giving of such notice shall constitute a waiver by the

Depository and the Book Entry Owner, as registered owner, of the foregoing notice.

H. New Bond in Amount Not Redeemed. Upon surrender for any partial

redemption of any Bond, there shall be prepared for the registered owner a new Bond or

Bonds of the same Series, of like tenor, of authorized denominations, of the same

maturity, and bearing the same rate of interest in the amount of the unpaid principal. [Page | 46] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

I. Effect of Nonpayment upon Redemption. If any Bond or portion of Bond

called for redemption shall not be so paid upon surrender thereof for redemption, the

principal shall, until paid or duly provided for, bear interest from the redemption date at

the rate borne by the Bond or portion of Bond so called for redemption.

J. Bonds to be Cancelled; Payment to Identify Bonds. All Bonds which have

been redeemed shall be cancelled and destroyed by the Bond Registrar and shall not be

reissued. Upon the payment of the redemption price of Bonds being redeemed, each

check or other transfer of funds issued for such purpose shall bear the CUSIP number

identifying, by issue and maturity, the Bonds being redeemed with the proceeds of such

check or other transfer.

K. Additional Notice. The District agrees to provide such additional notice of

redemption as it may deem advisable at such time as it determines to redeem Bonds,

taking into account any requirements or guidance of the Securities and Exchange

Commission, the Municipal Securities Rulemaking Board, the Government Accounting

Standards Board, or any other federal or state agency having jurisdiction or authority in

such matters; provided, however, that such additional notice shall be (1) advisory in

nature, (2) solely in the discretion of the District, (3) not be a condition precedent of a

valid redemption or a part of the Bond contract, and (4) any failure or defect in such

notice shall not delay or invalidate the redemption of Bonds for which proper official

notice shall have been given. Reference is also made to the provisions of the Continuing

Disclosure Undertaking of the District with respect to the Bonds, which may contain

other provisions relating to notice of redemption of Bonds. [June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 47

L. Bond Registrar to Advise District. As part of its duties hereunder, the

Bond Registrar shall prepare and forward to the District a statement as to notices given

with respect to each redemption together with copies of the notices as mailed.

Section 9. Registration of Bonds; Persons Treated as Owners. The District shall cause books (the “Bond Register”) for the registration and for the transfer of the Bonds as provided in

this Ordinance to be kept at the office designated for such purpose of the Bond Registrar. The

District is authorized to prepare, and the Bond Registrar or such other agent as the District may

designate shall keep custody of, multiple Bond blanks executed by the District for use in the

transfer and exchange of Bonds. Subject to the provisions of this Ordinance relating to the

Bonds in Book Entry Form, any Bond may be transferred or exchanged, but only in the manner,

subject to the limitations, and upon payment of the charges as set forth in this Ordinance. Upon

surrender for transfer or exchange of any Bond at the office designated for such purpose of the

Bond Registrar, duly endorsed by or accompanied by a written instrument or instruments of

transfer or exchange in form satisfactory to the Bond Registrar and duly executed by the regis-

tered owner or an attorney for such owner duly authorized in writing, the District shall execute

and the Bond Registrar shall authenticate, date and deliver in the name of the transferee or

transferees or, in the case of an exchange, the registered owner, a new fully registered Bond or

Bonds of the same Series, of like tenor, of the same maturity, bearing the same interest rate, of

authorized denominations, for a like aggregate principal amount. The Bond Registrar shall not

be required to transfer or exchange any Bond during the period from the close of business on the

Record Date for an interest payment to the opening of business on such interest payment date or

during the period of 15 days preceding the giving of notice of redemption of Bonds or to transfer

or exchange any Bond all or a portion of which has been called for redemption. The execution

by the District of any fully registered Bond shall constitute full and due authorization of such [Page | 48] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

Bond, and the Bond Registrar shall thereby be authorized to authenticate, date and deliver such

Bond; provided, however, the principal amount of Bonds of each Series and maturity authenticated by the Bond Registrar shall not at any one time exceed the authorized principal

amount of Bonds for such Series and maturity less the amount of such Bonds which have been

paid. The person in whose name any Bond shall be registered shall be deemed and regarded as

the absolute owner thereof for all purposes, and payment of the principal of or interest on any

Bond shall be made only to or upon the order of the registered owner thereof or his (her) legal

representative. All such payments shall be valid and effectual to satisfy and discharge the

liability upon such Bond to the extent of the sum or sums so paid. No service charge shall be

made to any registered owner of Bonds for any transfer or exchange of Bonds, but the District or

the Bond Registrar may require payment of a sum sufficient to cover any tax or other

governmental charge that may be imposed in connection with any transfer or exchange of Bonds.

Section 10. Form of Bond. The Bonds shall be in substantially the form hereinafter set

forth; provided, however, that if the text of the Bond is to be printed in its entirety on the front

side of the Bond, then the second paragraph of the front side of the Bond and the legend “See

Reverse Side for Additional Provisions” shall be omitted and paragraphs on the reverse side of

the Bond shall be inserted immediately after the first paragraph on the front side.

[Form of Bond - Front Side] REGISTERED REGISTERED NO. ______$______[June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 49

UNITED STATES OF AMERICA STATE OF ILLINOIS THE COUNTIES OF COOK AND DUPAGE

CHICAGO PARK DISTRICT

GENERAL OBLIGATION LIMITED TAX PARK BOND SERIES 2011A

See Reverse Side for Additional Provisions.

Interest Maturity Dated Rate: ____% Date: January 1, ____ Date: ______, 2011 CUSIP: ______

Registered Owner: CEDE & CO.

Principal Amount: Dollars

KNOW ALL PERSONS BY THESE PRESENTS that the Chicago Park District (the “District”), a park district, a unit of local government, and a political subdivision of the State of Illinois, hereby acknowledges itself to owe and for value received promises to pay to the Registered

Owner identified above, or registered assigns as hereinafter provided, on the Maturity Date identified above, the Principal Amount identified above and to pay interest (computed on the basis of a 360-day year of twelve 30-day months) on such Principal Amount from the later of the

Dated Date identified above or from the most recent interest payment date to which interest has been paid or duly provided for, at the Interest Rate per annum identified above, on January 1 and

July 1 of each year, commencing ______1, 2012, and until said Principal Amount is paid or duly provided for, except as the hereinafter stated provisions for redemption prior to maturity may be and become applicable hereto. The principal of this Bond is payable in lawful money of the United States of America upon presentation hereof at the office designated for such purpose of ______, located in Chicago, Illinois, or successor, as paying agent and bond registrar (the “Bond Registrar”). Payment of interest shall be made to the

Registered Owner hereof as shown on the registration books of the District maintained by the

Bond Registrar at the close of business on the Record Date for each interest payment date and [Page | 50] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

shall be paid by check or draft of the Bond Registrar, payable upon presentation at the Bond

Registrar in lawful money of the United States of America, mailed to the address of such

Registered Owner as it appears on such registration books, or as otherwise agreed to by the

District and the Depository if holding this Bond in Book Entry Form, as provided for same.

“Record Date” means the 15th day of the month preceding any regular or other interest payment

date occurring on the first day of any month and the 15th day preceding any interest payment

date occasioned by the redemption of Bonds on other than the first day of a month.

Reference is hereby made to the further provisions of this Bond set forth on the reverse

hereof, and such further provisions shall for all purposes have the same effect as if set forth at

this place.

For the prompt payment of this Bond, both principal and interest, at maturity, the credit

and resources of the District are hereby irrevocably pledged. ALTHOUGH THIS BOND

CONSTITUTES A GENERAL OBLIGATION OF THE DISTRICT FOR WHICH IT IS AUTHORIZED TO LEVY

AND COLLECT A DIRECT ANNUAL TAX TO PAY, AND NO LIMIT EXISTS ON THE RATE OF SAID TAX, THE

DOLLAR AMOUNT OF SAID TAX IS LIMITED BY THE PROVISIONS OF THE PROPERTY TAX EXTENSION

LIMITATION LAW OF THE STATE OF ILLINOIS, AS AMENDED.

It is hereby certified and recited that all conditions, acts, and things required by the

Constitution and Laws of the State of Illinois to exist or to be done precedent to and in the

issuance of this Bond, have existed and have been properly done, happened, and been performed

in regular and due form and time as required by law; that the indebtedness of the District,

represented by this Bond and the issue of which it forms a part, and including all other

indebtedness of the District, howsoever evidenced or incurred, does not exceed any

constitutional or statutory or other lawful limitation.

This Bond shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been manually signed by the Bond Registrar. [June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 51

IN WITNESS WHEREOF the Chicago Park District, by its Board of Commissioners, has caused this Bond to be executed by the manual or duly authorized facsimile signature of its

President and attested by the manual or duly authorized facsimile signature of its Secretary, and

to be registered, numbered and countersigned by the manual or duly authorized facsimile

signature of its Treasurer, all as appearing hereon and its corporate seal or a facsimile thereof to

be impressed or reproduced hereon, all as appearing hereon and as of the Dated Date identified above.

______President, Board of Commissioners Chicago Park District

REGISTERED, NUMBERED AND COUNTERSIGNED: ATTEST:

______Treasurer, Chicago Park District Secretary, Chicago Park District

[SEAL]

[Page | 52] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

Date of Authentication: ______, ____

CERTIFICATE OF AUTHENTICATION

This Bond is one of the Bonds described in the within-mentioned Ordinance and is one of the General Obligation Limited Tax Park Bonds, Series 2011A, of the Chicago Park District.

[NAME] as Bond Registrar

By ______

Bond Registrar:

[NAME]

Chicago, Illinois

[June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 53

[Form of Bond - Reverse Side] This bond is one of a series of bonds (the “Bonds”) in the aggregate principal amount of

$______issued by the District for the purpose of paying the costs of Park Purposes, including the payment of expenses incidental thereto, all as described and defined in the ordinance authorizing the Bonds (the “Ordinance”), as adopted by the Board of Commissioners

on June 8, 2011, pursuant to and in all respects in compliance with the applicable provisions of

the Chicago Park District Act, as supplemented and amended, and as particularly supplemented

by the Local Government Debt Reform Act of the State of Illinois, as amended, and all other acts

and laws supplementary, and with the Ordinance, which has been duly adopted by the Board of

Commissioners in all respects as by law required.

Subject to the provisions relating to this Bond remaining in Book Entry Form, this Bond

may be transferred or exchanged, but only in the manner, subject to the limitations, and upon

payment of the charges as set forth in the Ordinance and related documents.

This Bond is subject to redemption upon the terms, notice, price and other applicable

provisions of the Ordinance and related documents.

The District and the Bond Registrar may deem and treat the person in whose name any

Bond shall be registered in the Bond Register as the absolute owner of such Bond, whether such

Bond shall be overdue or not, for the purpose of receiving payment of or on account of the

principal of or interest thereon and for all other purposes whatsoever; all such payments so made

to any such Registered Owner or upon such Owner’s order shall be valid and effectual to satisfy

and discharge the liability upon such Bond to the extent of the sum or sums so paid; and neither

the District nor the Bond Registrar shall be affected by any notice to the contrary. [Page | 54] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

ASSIGNMENT

FOR VALUE RECEIVED the undersigned sells, assigns and transfers unto

Here insert identification number, such as Employer ID, SSN.

______

______(Name and Address of Assignee) the within Bond and does hereby irrevocably constitute and appoint ______

______, as attorney to transfer the said Bond on the books kept for registration thereof with full power of substitution in the premises.

Dated: ______

Signature guaranteed: ______

NOTICE: The signature to this assignment must correspond with the name of the Registered Owner as it appears upon the face of the within Bond in every particular, without alteration or enlargement or any change whatever.

[June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 55

Section 11. Sale of Bonds; Certain Conditions of Sale. The Designated Officers are hereby authorized to proceed, without any further official authorization or direction whatsoever from the Board, to sell and deliver Bonds as herein provided. The Designated Officers shall be and are hereby authorized and directed to sell the Bonds to the Purchasers at not less than the

Purchase Price, provided, however, that in connection with any Series of Bonds as described below, the related conditions shall be met:

A. With respect to each Series, the aggregate compensation to the Purchasers,

not including other costs or expenses incurred and approved by the District and paid

directly upon delivery of the Bonds, shall not exceed 1% of the par value of such Series.

B. With respect to each Series, the Purchasers and the Financial Advisor shall

provide advice (in the form of written certificate or report) that the terms of such Series

of the Bonds are fair and reasonable in light of current conditions in the market for

tax-exempt obligations such as the Bonds; in rendering such advice, the Financial

Advisor shall have the authority to rely upon a report of the Pricing Consultant.

Nothing in this Section shall require the Designated Officers to sell the Bonds if in their judgment, aided by the Financial Advisor, the conditions in the bond markets shall have markedly deteriorated from the time of adoption hereof, but the Designated Officers shall have the authority to sell the Bonds in any event so long as the limitations set forth in this Ordinance and the conditions of this Section shall have been met. It is hereby found that at this time, and further at the time of the execution and delivery of each Bond Purchase Agreement (as hereinafter defined), the Designated Officers shall find and determine that, no person holding any office of the District either by election or appointment, is in any manner financially interested, either directly, in his or her own name, or indirectly, in the name of any other person, association, trust or corporation, in said agreement with the Purchasers for the purchase of the [Page | 56] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

Bonds. Upon the sale of a Series of the Bonds, the Designated Officers and any other officers of

the District as shall be appropriate shall be and are hereby authorized and directed to approve or

execute, or both, such documents of sale of the Bonds as may be necessary, including, without

limitation, a Bond Order, Preliminary Official Statement, Official Statement, Bond Purchase

Agreement, and closing documents. The Preliminary Official Statement relating to the Bonds of

any Series, such document to be in substantially the form now on file with the Secretary and

available to the Commissioners and members of the interested public, is hereby in all respects

authorized and approved; and the proposed use and distribution by the Purchasers of an Official

Statement (in substantially the form of the Preliminary Official Statement but with appropriate

variations to reflect the final terms of the Bonds) is also hereby authorized and approved. A

bond purchase agreement for the sale of the Bonds to the Purchasers (the “Bond Purchase

Agreement”), such document to be in substantially the form now on file with the Secretary and

available to the Commissioners and members of the interested public, is hereby in all respects

authorized and approved. The officer(s) designated to sign the Bond Purchase Agreement are

hereby authorized to execute same, and their execution shall constitute full and complete

approval of all necessary or appropriate completions and revisions as shall appear therein. Upon

the sale of the Bonds of a Series, the Designated Officers so acting shall prepare the Bond Order

for same, such document to be in substantially the form now on file with the Secretary and

available to the Commissioners and members of the interested public, which shall include the

pertinent details of sale as provided herein, and which shall enumerate the levy of taxes to pay

such Series of Bonds, and such shall in due course be entered into the records of the District and

made available to the Board. The Designated Officers shall also file with the County Clerks the

Bond Order or like document including a statement of taxes. The authority to sell the Bonds pursuant to any Bond Order as herein provided shall expire on December 31, 2011. [June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 57

Section 12. Security for the Bonds and Certain Covenants and Reservations. The full faith and credit of the District are hereby irrevocably pledged to the punctual payment of the principal of and interest on the Bonds. The Bonds shall be direct and general obligations of the

District, and the District shall be obligated to levy ad valorem taxes upon all the taxable property of the District for the payment of the Bonds and the interest thereon, without limitation as to rate, but limited as to amount by the provisions of the Limitation Law. The Bonds shall be payable out of the Current Collection of the Pledged Taxes; and, in the event the Current Collection shall be insufficient to pay the interest on and the principal of the Bonds when due, the Bonds are payable as a general obligation of the District from the General Funds. In the event General

Funds are used, the General Funds shall be reimbursed from the amounts eventually received and attributable to the Loss in Current Collection related to such insufficiency, if any. The District represents that the sum of: (1) the Pledged Taxes (as levied for the Bonds and defined as such in the text of this Ordinance set out below in Section 13); (2) the levies for all Prior Limited Bonds; and (3) the levies for all Nonreferendum Base Bonds previously issued, does not exceed the Debt

Service Extension Base for any year.

Section 13. Tax Levy. For the purpose of providing funds required to pay the interest on the Bonds promptly when and as the same falls due, and to pay and discharge the principal thereof at maturity and as subject to mandatory redemption, there is hereby levied upon all of the taxable property within the District, in the years for which any of the Bonds are outstanding, a direct annual tax for that purpose; and there is hereby levied on all of the taxable property in the

District, in addition to all other taxes, in the District, the taxes to be enumerated in the Bond

Orders (the “Pledged Taxes”). The Pledged Taxes and other moneys on deposit (collectively, the “Bond Moneys”) in the Bond Account and allocable to the Bonds shall be applied to pay principal of and interest on the Bonds as follows: [Page | 58] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

A. Bond Moneys shall be applied to the payment of interest when due and

principal or redemption price when due at maturity or as redeemed pursuant to mandatory

redemption from the Bond Account; or

B. On or before 65 days preceding a mandatory redemption date, and provided

notice is given to the Bond Registrar on or before said 65th day preceding a mandatory

redemption date, Bond Moneys up to the amount of the redemption requirement on such

mandatory redemption date plus interest due on Term Bonds on such date may be applied

(1) to the purchase of Term Bonds of the maturity for which such mandatory redemption

requirement was established at prices (including commissions and charges, if any) not

exceeding par and accrued interest to such mandatory redemption date or (2) to the

redemption of such Bonds, without premium, pursuant to optional redemption provisions

applicable thereto. Upon the purchase or redemption of Term Bonds of any maturity

pursuant to this paragraph (B), an amount equal to the principal amount of such Bonds or

applicable portion thereof so purchased or redeemed shall be deducted from the

mandatory redemption requirement as provided for Term Bonds of such maturity, first, in

the current year of such requirement, until the requirement for the current year has been

fully met, and then in any order of payment on the Term Bonds as due at maturity or

subject to mandatory redemption in any year as the District shall at such time determine.

Principal of or interest on any Bond coming due at any time when there are not sufficient funds on hand from the Pledged Taxes to pay the same shall be paid from the General Funds of the

District, and the specific funds from which such payment shall have been made shall then be reimbursed out of the related Pledged Taxes when the same shall have been collected. The

fail to take any action which in any way would adversely affect the ability of the District to levy

and collect the Pledged Taxes; and the District and its officers will comply with all present and

future applicable laws in order to assure that the Pledged Taxes will be levied, extended and

collected as provided herein and deposited into the Bond Account.

years provided, as may be specified in such Bond Order and any subsequent Bond Orders, to

ascertain the rate necessary to produce the Pledged Taxes, and extend the same for collection on

the tax books against all of the taxable property within the District in connection with other taxes

levied in each of said years for District purposes, in order to raise the respective amounts of the

Pledged Taxes; and in each year such annual taxes constituting the Pledged Taxes shall be

computed, extended and collected in the same manner as now or hereafter provided by law for

the computation, extension and collection of taxes for general District purposes. When collected,

the Pledged Taxes shall be placed to the credit of the Bond Account.

Section 15. Use of Bond Proceeds; Creation of Accounts. Bond proceeds and other

funds of the District as stated are hereby appropriated as follows:

A. Accrued interest, the necessary amount of premium on the Bonds, together

with such additional sum which, taking into account investment earnings, shall be

sufficient to pay interest due on the Bonds issued for Park Purposes to a date not further

than two years from the Dated Date of the Bonds, as provided in a Bond Order, may be

applied for the purpose of paying such interest due on the Bonds, and to such end, are to

be deposited into the “Bond and Interest Account” for the Bonds hereby established as an [Page | 60] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

independent accounting entity or as a sub-account within an appropriate existing account

of the District (the “Bond Account”), for the purpose of providing for the payment of the

Bonds.

B. The Pledged Taxes shall either be deposited into the Bond Account and used

solely and only for paying the principal of and interest on the Bonds or be used to

reimburse a fund or account from which advances to the Bond Account may have been

made to pay principal of or interest on the Bonds prior to receipt of Pledged Taxes.

Interest income or investment profit earned in the Bond Account shall be retained in the

Bond Account for payment of the principal of or interest on the Bonds on the interest

payment date next after such interest or profit is received or, to the extent lawful and as

determined by the Board, transferred to such other fund as may be determined. The

District hereby pledges, as equal and ratable security for the Bonds, all present and future

proceeds of the Pledged Taxes for the sole benefit of the registered owners of the Bonds,

subject to the reserved right of the Board to reimburse or transfer certain interest income

or investment profit earned in the Bond Account to other funds of the District, as

described in the preceding sentence.

C. The amount necessary to pay costs of issuance of the Bonds shall to the

fullest extent possible be totally paid by the Purchasers from Bond proceeds at closing or

(if and only if necessary) deposited into a separate fund, hereby established as an

independent accounting entity or as a sub-account within an appropriate existing account

of the District, designated the “Expense Account.” Such payments by the Purchasers or

any disbursements from the Expense Account shall be made from time to time as

necessary. Any excess in the Expense Account shall be deposited into the Bond Account

within six months from the date of issuance of the Bonds. [June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 61

D. The remaining proceeds of the Bonds shall be set aside in a “Capital

Project Account” for such proceeds (the “Project Account”), hereby established as an

independent accounting entity or as a sub-account within an appropriate existing account

of the District, and be used to pay costs of the Park Purposes, including costs of issuance

of the Bonds. The Board reserves the right, as it becomes necessary from time to time, to

revise the list of projects hereinabove set forth, to change priorities, to revise cost

allocations between projects and to substitute projects, in order to meet current needs of

the District; subject, however, to limitations of Applicable Law and to the tax covenants

set forth herein. Monies on deposit in the Project Account may be invested by the

Treasurer in any lawful manner. Investment earnings in the Project Account may at the

discretion of the Treasurer be reserved and transferred to such other account as and to the

extent necessary to pay any “excess arbitrage profits” or “penalty in lieu of rebate” under

Code Section 148(f) to maintain the Tax-exempt status of the Bonds, and the remainder

shall be retained in the Project Account used to pay for Park Purposes.

Section 16. General Tax Covenants. The District hereby covenants that it will not take any action, omit to take any action, or permit the taking or omission of any action, within its control (including, without limitation, making or permitting any use of the proceeds of the

Bonds) if taking, permitting, or omitting to take such action would cause any of the Bonds to be an arbitrage bond or a private activity bond within the meaning of the Code or would otherwise cause the interest on the Bonds to be included in the gross income of the recipients thereof for federal income tax purposes. The District acknowledges that, in the event of an examination by the Internal Revenue Service of the exemption from Federal income taxation for interest paid on the Bonds, under present rules, the District may be treated as a “taxpayer” in such examination and agrees that it will respond in a commercially reasonable manner to any inquiries from the [Page | 62] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

Internal Revenue Service in connection with such an examination. In furtherance of the

foregoing provisions, but without limiting their generality, the District agrees: (a) through its

officers, to make such further specific covenants, representations as shall be truthful, and

assurances as may be necessary or advisable; (b) to comply with all representations, covenants,

and assurances contained in certificates or agreements as may be prepared by counsel approving

the Bonds; (c) to consult with such counsel; (d) to file such forms, statements, and supporting documents as may be required and in a timely manner; and (e) if deemed necessary or advisable by its officers, to employ and pay fiscal agents, financial advisors, attorneys, and other persons to assist the District in such compliance.

The District further covenants that none of the proceeds of the Bonds will be used to pay, directly or indirectly, in whole or in part, for an expenditure that has been paid by the District prior to the date hereof except architectural or engineering costs incurred prior to commencement of any of the Park Purposes or expenditures for which an intent to reimburse has properly been declared under Treasury Regulations Section 1.150-2. This Ordinance is in itself a declaration of

official intent under Treasury Regulations Section 1.150-2 as to all costs of the Park Purposes

paid after the date hereof and prior to issuance of the Bonds.

Section 17. Pertaining to the Bond Registrar. If requested by the Bond Registrar, any

of the Designated Officers are authorized to execute a mutually agreed upon form of agreement

between the District and the Bond Registrar with respect to the obligations and duties hereunder.

Subject to modification by such agreement, the Bond Registrar accepts the duties listed as

follows:

(a) as applicable, to act as bond registrar, authenticating agent, paying agent,

and transfer agent as provided herein; [June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 63

(b) to maintain a list of registered owners as set forth herein and to furnish such

list to the District upon request, but otherwise to keep such list confidential except as

otherwise may be required by law;

redemption or submitted for exchange or transfer;

(d) to furnish the District at least annually a certificate with respect to Bonds

cancelled and/or destroyed; and

(e) to furnish the District at least annually an audit confirmation of Bonds paid,

Bonds outstanding, and payments made with respect to interest on the Bonds.

The District covenants that it shall at all times retain a Bond Registrar with respect to the Bonds, that it will maintain at the designated office(s) of such Bond Registrar a place or places where

Bonds may be presented for payment or registration of transfer or exchange, and that it shall require that the Bond Registrar properly maintain the Bond Register and perform the other duties and obligations imposed upon it by this Ordinance in a manner consistent with the standards, customs and practices of the municipal securities industry.

shall be removed, shall become incapable of acting, or shall be adjudged a bankrupt or insolvent,

or if a receiver, liquidator, or conservator of the Bond Registrar or of the property thereof shall

be appointed, or if any public officer shall take charge or control of the Bond Registrar or of the

property or affairs thereof, the District covenants and agrees that it will thereupon appoint a

successor Bond Registrar. The District shall mail notice of any such appointment made by it to

each registered owner of any Bond within twenty days after such appointment. Any Bond

Registrar appointed under the provisions of this Section shall be a bank, trust company, or

national banking association maintaining a corporate trust office in Chicago, Illinois, and either

then currently acting in the capacity of bond registrar and paying agent on other bonds of the

District or having capital, surplus, and undivided profit in excess of $100,000,000.

Section 18. Municipal Bond Insurance Policy. The Designated Officers are hereby expressly authorized to sell the Bonds subject to the provisions of a Municipal Bond Insurance

Policy. In such event, so long as such Municipal Bond Insurance Policy shall be in full force and effect, the District and the Bond Registrar agree to comply with such usual and reasonable provisions regarding presentment and payment of the Bonds, subrogation of the rights of the bondholders to the issuer of such policy when holding Bonds, amendment hereof, or other terms, as approved by any one or more of the Designated Officers, his, her or their approval to constitute full and complete acceptance by the District of such terms and provisions under authority of this Section.

Section 19. Continuing Disclosure Undertaking. Any of the Designated Officers is

hereby authorized to execute and deliver the Continuing Disclosure Undertaking, such document

to be in substantially the form now on file with the Secretary and available to the Commissioners

and members of the interested public, as on file in the books and records of the District, to effect

compliance with the Rule. When such Continuing Disclosure Undertaking is executed and [June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 65

delivered on behalf of the District, it will be binding on the District and the officers, agents, and employees of the District, and the same are hereby authorized and directed to do all such acts and things and to execute all such documents as may be necessary to carry out and comply with the provisions of such Continuing Disclosure Undertaking as executed and delivered.

Notwithstanding any other provisions hereof, the sole remedies for failure to comply with such

Continuing Disclosure Undertaking shall be the ability of the beneficial owner of any Bond to seek mandamus or specific performance by court order, to cause the District to comply with its obligations thereunder.

Section 20. Defeasance. Any Bond or Bonds for which sufficient United States funds and lawful investments of the District described as follows:

(1) Direct full faith and credit obligations of the United States of America;

(2) Obligations the timely payment of all principal of and interest on which are

guaranteed by the Treasury of the United States; and

(3) Certificates of participation in a trust comprised solely of obligations

described in paragraph (1) above,

(collectively, “Defeasance Obligations”) have been deposited with a bank or trust company

authorized to keep trust accounts, taking into account investment earnings on such Defeasance

Obligations, all principal of and interest on such Bond or Bonds when due at maturity or as

called for redemption, pursuant to an irrevocable escrow or trust agreement, shall cease to have

any lien on or right to receive or be paid from the Pledged Taxes or Bond Moneys hereunder and

shall no longer have the benefits of any covenant for the registered owners of outstanding Bonds

as set forth herein as such relates to lien and security of the outstanding Bonds. All covenants

relative to the Tax-exempt status of the Bonds and payment, registration, transfer, and exchange

are expressly continued for all Bonds whether deemed outstanding Bonds or not. [Page | 66] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

Section 21. Ordinance a Contract. The provisions of the Ordinance shall constitute a contract between the District and the registered owners of the Bonds, and no changes, additions or alterations of any kind shall be made hereto, except as herein provided. The provisions of the

Ordinance shall be governed by, construed and enforced in accordance with the laws of the State of Illinois, including, without limitation, those laws applicable to contracts made and to be performed in the State of Illinois, without however giving effect to the conflict of laws provisions thereof.

Section 22. Officers and Employees of the District. No recourse shall be had for the payment of the principal of or premium, if any, or interest on any of the Bonds or for any claim based thereon or upon any obligation, covenant or agreement contained in or authorized or approved by, this Ordinance or any agreement supplemental hereto, against any past, present or future president, commissioner or other officer, director, member, employee, attorney or agent of the District, or any officer, commissioner, director, member, trustee, employee or agent of any successor public corporation or body politic, as such, either directly or through the District or any successor public corporation or body politic, under any rule of law or equity, statute or constitution or by the enforcement of any assessment or penalty or otherwise, and all such liability of any such officers, commissioners, directors, trustees, members, employees or agents, as such, is hereby expressly waived and released as a condition of and consideration for the issuance of any of the Bonds.

Section 23. Severability. If any section, paragraph or provision of this Ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph or provision shall not affect any of the remaining provisions of this

Ordinance.

[June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 67

Section 24. Superseder; Publication; Effective Date. All ordinances, procedural rules, or parts thereof in conflict herewith be and the same are hereby superseded for purposes of this

Ordinance. The Secretary shall cause this Ordinance to be published in pamphlet form, but such publication shall be for public information purposes only and shall not be a condition of the effectiveness hereof; and this Ordinance shall be in full force and effect forthwith upon its adoption.

AYES: ______

NAYS: ______

ABSENT: ______

ADOPTED: June 8, 2011.

SIGNED: June 8, 2011

______President, Board of Commissioners Chicago Park District

[Page | 68] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

ATTEST:

______Secretary, Chicago Park District

STATE OF ILLINOIS ) ) SS COUNTY OF COOK )

CERTIFICATION OF AGENDA, MINUTES AND ORDINANCE I, the undersigned, do hereby certify that I am the duly qualified and acting Secretary of the Board of Commissioners (the “Board”) of the Chicago Park District (the “District”), and as such official I am the keeper of the records and files of the Board and of the District.

I do further certify that the foregoing constitutes a full, true, and complete transcript of the minutes of the meeting of the Board held on the 8th day of June 2011 (the “Meeting”), insofar as same relates to the adoption of an ordinance entitled:

(the “Ordinance”), a true, correct, and complete copy of which Ordinance as adopted appears in the foregoing transcript of the minutes of the Meeting.

I do further certify that the deliberations of the Board on the adoption of the Ordinance

were conducted openly; that the vote on the adoption of the Ordinance was taken openly; that the

Meeting was called and held at a specified time and place convenient to the public; that notice of

the Meeting was duly given to all of the news media requesting such notice; that an agenda (the

“Agenda”) for the Meeting was posted at least 48 hours in advance of holding the Meeting at the

location where the meeting was held and at the principal office of the Board; that a true, correct,

and complete copy of the Agenda is attached to this Certificate; that the Meeting was called and

held in strict compliance with the provisions of the Open Meetings Act of the State of Illinois, as

amended, the Chicago Park District Act of the State of Illinois, as amended; and the Local

Government Debt Reform Act of the State of Illinois, as amended; and that the Board has

complied with all of the provisions of law and with all of the procedural rules of the Board in the

conduct of the Meeting and the adoption of the Ordinance.

I do further certify that I did cause the Ordinance to be published in pamphlet form and

available in my office, in quantity sufficient to meet the demand for same, not later than the date

affixed to this Certificate.

IN WITNESS WHEREOF I hereunto affix my official signature and the official seal of the

District this 8th day of June 2011.

______Secretary, Board of Commissioners

[Page | 70] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

[Attach agenda, minutes and ordinance.]

STATE OF ILLINOIS ) ) SS COUNTY OF COOK )

CERTIFICATE OF FILING I, the undersigned, do hereby certify that I am the duly qualified and acting County Clerk of The County of Cook, Illinois, and as such officer I do hereby certify that on the _____ day of

______, 2011 there was filed in my office a properly certified copy of Ordinance Number

______, passed by the Board of Commissioners of the Chicago Park District on the 8th day of June 2011 and entitled:

and that the same has been deposited in, and all as appears from, the official files and records of

my office.

IN WITNESS WHEREOF I have hereunto affixed my official signature and the seal of The

County of Cook, Illinois, at Chicago, Illinois, this ____ day of ______, 2011.

______County Clerk of The County of Cook, Illinois [SEAL]

STATE OF ILLINOIS ) ) SS COUNTY OF DUPAGE )

CERTIFICATE OF FILING I, the undersigned, do hereby certify that I am the duly qualified and acting County Clerk

of The County of DuPage, Illinois, and as such officer I do hereby certify that on the ____ day of

______, 2011 there was filed in my office a properly certified copy of Ordinance Number

______, passed by the Board of Commissioners of the Chicago Park District on the 8th

day of June 2011 and entitled:

IN WITNESS WHEREOF I have hereunto affixed my official signature and the seal of The

County of DuPage, Illinois, at Wheaton, Illinois, this ____ day of ______, 2011.

______County Clerk of The County of DuPage, Illinois [SEAL]

ORDINANCE NUMBER ______

AN ORDINANCE authorizing and providing for the issue, sale, and delivery of not to exceed $25,000,000 General Obligation Limited Tax Refunding Bonds, Series 2011B, in one or more series, of the Chicago Park District for the purpose of refunding certain outstanding general obligation bonds of the District previously issued, the execution of one or more bond orders in connection therewith, prescribing the details of said bonds, and providing for the levy and collection of a direct annual tax for the payment of the principal of and interest on said bonds.

[June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 73

Adopted by the Board of Commissioners on the 8th day of June 2011.

TABLE OF CONTENTS PAGE

PREAMBLES ...... 74 SECTION 1. DEFINITIONS ...... 76 SECTION 2. INCORPORATION OF PREAMBLES ...... 82 SECTION 3. DETERMINATION TO ISSUE BONDS; FINDING AS TO THE DEBT LIMIT ...... 82 SECTION 4. BOND DETAILS ...... 82 SECTION 5. BOOK ENTRY FORM ...... 84 SECTION 6. EXECUTION; AUTHENTICATION ...... 85 SECTION 7. REDEMPTION ...... 86 SECTION 8. REDEMPTION PROCEDURES ...... 87 SECTION 9. REGISTRATION OF BONDS; PERSONS TREATED AS OWNERS ...... 92 SECTION 10. FORM OF BOND ...... 93 SECTION 11. SALE OF BONDS; CERTAIN CONDITIONS OF SALE ...... 101 SECTION 12. SECURITY FOR THE BONDS AND CERTAIN COVENANTS AND RESERVATIONS ...... 103 SECTION 13. TAX LEVY ...... 104 SECTION 14. FILING OF ORDINANCE ...... 105 SECTION 15. USE OF BOND PROCEEDS; CREATION OF ACCOUNTS ...... 106 SECTION 16. GENERAL TAX COVENANTS ...... 108 SECTION 17. PERTAINING TO THE BOND REGISTRAR ...... 108 SECTION 18. MUNICIPAL BOND INSURANCE POLICY ...... 110 SECTION 19. CONTINUING DISCLOSURE UNDERTAKING ...... 110 [Page | 74] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

SECTION 20. TAXES PREVIOUSLY LEVIED ...... 111 SECTION 21. DEFEASANCE ...... 111 SECTION 22. ORDINANCE A CONTRACT ...... 112 SECTION 23. OFFICERS AND EMPLOYEES OF THE DISTRICT ...... 112 SECTION 24. SEVERABILITY ...... 113 SECTION 25. SUPERSEDER; PUBLICATION; EFFECTIVE DATE ...... 113

Ordinance Number ______

WHEREAS A. The Chicago Park District, located in Cook and DuPage Counties, Illinois (the

“District”) is a park district, body politic and corporate, and unit of local government of the

State of Illinois, organized under the Chicago Park District Act of the State of Illinois, as amended (the “ Act” ).

B. In addition to the Act, the District operates, inter alia, under the following Illinois acts and laws, in each case as amended: [June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 75

1. the Park District Refunding Bond Act (the “Refunding Act”) relating to

refunding bonds;

2. the Local Government Debt Reform Act (“Debt Reform Act”) relating to

borrowing; and

3. the Property Tax Extension Limitation Law (the “Limitation Law”) relating

to certain ad valorem property tax limits.

C. The District is governed by a duly constituted Board of Commissioners (the

“Board”), and the tax extension officers for the District are the County Clerks of The Counties

of Cook and DuPage, Illinois (the “County Clerks”).

D. The District has heretofore issued and there are now outstanding and not otherwise refunded, paid, or provided for, bonds within the following series of bonds, all being legal and

validly binding and subsisting obligations of the District:

GENERAL OBLIGATION LIMITED TAX PARK BONDS, SERIES 2001A

GENERAL OBLIGATION LIMITED TAX PARK BONDS, SERIES 2001C (which bonds, collectively, are hereinafter referred to as the “Prior Bonds”).

E. The Board has considered and determined that interest rates available in the bond

market for certain maturities of the Prior Bonds are currently sufficiently favorable that it is

possible, proper and advisable to refund all or a portion of such bonds at this time to take

advantage of the debt service savings which will result from such lower interest rates (the entire

program of refunding portions of the Prior Bonds, and as more particularly defined in the text

below, hereinafter the “Refunding”).

F. Pursuant to the provisions of the Act, the Refunding Act, and the Debt Reform Act, the District is authorized to issue, without prior referendum approval, its general obligation limited tax bonds to accomplish the Refunding. [Page | 76] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

G. The Board does hereby determine that it is advisable and in the best interests of the

District to authorize the borrowing of not to exceed $25,000,000 at this time pursuant to such

applicable laws for the purpose of paying the costs of the Refunding and, in evidence of such

borrowing, to authorize the issuance of its full faith and credit bonds in the principal amount of

not to exceed $25,000,000.

H. The bonds so authorized may be issued as “limited tax bonds” under the provisions

of Section 15.01 of the Debt Reform Act.

NOW, THEREFORE, Be It Ordained by the Board of Commissioners of the Chicago Park

District as follows:

Section 1. Definitions.

A. Words and terms used in this Ordinance shall have the meanings assigned them unless the context or use clearly indicates another or different meaning is intended. Words and

terms defined in the singular may be used in the plural and vice-versa. Reference to any gender

shall be deemed to include the other and also inanimate persons such as corporations, where

applicable.

“ Act” is defined in the preambles.

“Available Base” means the amount of extension of taxes available to the District

in any given Bond Year under the Debt Service Extension Base after subtracting

extensions for all previously issued bonds the extension for which will be chargeable

against the Debt Service Extension Base in such year.

“Board” is defined in the preambles.

“Bond Account” means the Bond Account as established and defined in

Section 15 of this Ordinance. [June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 77

“Bond Moneys” means the Pledged Taxes and any other moneys properly held in

the Bond Account.

“Bond Order” means a Bond Order as authorized to be executed by the

Designated Officers of the District as set forth in Section 11 of this Ordinance and by

which final terms of the Bonds will be established.

“Bond Purchase Agreement” is defined in Section 11 of this Ordinance.

“Bond Register” means the books of the District kept by the Bond Registrar to

evidence the registration and transfer of the Bonds.

“Bond Registrar” means the Treasurer of the District, or, as approved in the Bond

Order, any bank or trust company, having trust powers, and also having a corporate trust

office in Chicago, Illinois, and either having capital and surplus in excess of

$100,000,000 or having been designated by the District in such a capacity within the last

three (3) years, acting in the capacity as both bond registrar and paying agent for the

Bonds.

“Bond Year” means the period from January 2 of a given year through January 1

of the following year.

“Bonds” means the not to exceed $25,000,000 General Obligation Limited Tax

Refunding Bonds, Series 2011B authorized to be issued, sold and delivered in one or

more series pursuant to this Ordinance.

“Book Entry Form” means the form of the Bonds as fully registered and available

in physical form only to the Depository.

“Code” means the Internal Revenue Code of 1986, as amended.

“Counties” means The County of Cook and The County of DuPage, Illinois.

“County Clerks” is defined in the preambles. [Page | 78] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

“Current Collection” means the taxes in fact paid and received by the District

from the respective County Treasurer from a given Extension up to the date payment is

due upon bonds, which payment is to be made from such Extension, plus that amount, if

any, received in the year preceding such payment date as the collection of delinquent

taxes from prior years allocable to the levy for all Limited Bonds of the District and

General Funds.

“Debt Reform Act” is defined in the preambles.

“Debt Service Extension Base” means the debt service extension base of the

District as provided by the Limitation Law.

“Depository” means The Depository Trust Company, New York, New York, or

its successors, or a successor depository qualified to clear securities under applicable

state and federal laws.

“Designated Officers” means any two of the following four officers of the

District, acting in concert: the General Superintendent & CEO, the Chief Financial

Officer, the Treasurer, and any Commissioner; and in the event any of such first three

offices is then vacant, the acting or interim officer or officers in such positions.

“District” is defined in the preambles.

“Escrow Account” means the account established by an Escrow Agreement.

“Escrow Agent” means the Treasurer of the Chicago Park District, or, as

approved in the Bond Order, any bank or trust company, having trust powers, and also

having a corporate trust office in Chicago, Illinois, and either having capital and surplus

in excess of $100,000,000 or having been designated by the District in such a capacity

within the last three (3) years. [June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 79

“Escrow Agreement” means an agreement between the District and the Escrow

Agent authorized herein to effect all or part of the Refunding, under which agreement the

Escrow Account shall be created to provide for the holding of the assets for the

Refunding.

“Expense Account” means the fund established hereunder and further described

in Section 15 of this Ordinance.

“Extension” means the amount of taxes in fact extended for collection by the

County Clerks based upon a levy, which extension is calculable by the sum of taxable

property multiplied by the rate (in percent, mils or decimal, as appropriate) of taxation

applied for such levy.

“Financial Advisor” means Public Finance Advisors LLC, the financial advisor

to the District for the sale of the Bonds.

“Future Limited Bonds” means Limited Bonds to be issued by the District in the

future.

“General Funds” means any and all funds of the District, other than the Bond

Account, from which payments may lawfully be made to pay principal of or interest on

the Bonds.

“Limitation Law” is defined in the preambles.

“Limited Bonds” means limited bonds issued under Section 15.01 of the Debt

Reform Act.

“Loss in Current Collection” means the difference between an Extension and the

Current Collection from such Extension. [Page | 80] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

“Municipal Bond Insurance Policy” means a policy or surety contract

guaranteeing to the registered owners of Bonds the payment of the principal of and

interest on Bonds.

“Nonreferendum Base Bonds” means bonds of any kind, other than Limited

Bonds, the levy (and resulting Extension) for which is chargeable against (i.e., deductible

from) the Debt Service Extension Base in a given year.

“Ordinance” means this Ordinance, numbered as shown on the title page hereof,

and adopted by the Board on the 8th day of June 2011.

“Pledged Taxes” means the taxes levied on the taxable property within the

corporate limits of the District to pay principal of and interest on the Bonds as provided

in Section 13 of this Ordinance.

“Pricing Consultant” means Delphis Hanover Corporation or such firm as shall

be designated by the District in the Bond Order.

“Prior Bonds” is defined in the preambles.

“Prior Limited Bonds” means Limited Bonds previously issued for which taxes

have been levied which are allocable to the Debt Service Extension Base, the listing of

which is on file in the office of the Treasurer.

“Purchase Price” means the price to be paid by the Purchasers for the Bonds,

to-wit: not less than 98% of the original principal amount thereof plus accrued interest to

the date of delivery.

“Purchasers” means William Blair & Company, L.L.C., Morgan Stanley & Co.

Incorporated, Siebert Brandford Shank & Co. L.L.C., BMO Capital Markets GKST Inc.,

and North South Capital LLC, and such additional firms as may be added by the District

in accordance with its procedures prior to the sale of Bonds. [June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 81

“Record Date” means the 15th day of the month preceding any regular or other

interest payment date occurring on the first day of any month and 15 days preceding any

interest payment date occasioned by the redemption of Bonds on other than the first day

of a month.

“Refunded Bonds” means those of the Prior Bonds selected for refunding

pursuant to one or more Bond Orders as authorized hereunder.

“Refunding” means the refunding of the Refunded Bonds from proceeds of the

Bonds and such other lawfully available funds of the District as necessary and includes

the payment of all costs of issuance of Bonds and of administering such refunding.

“Refunding Act” is defined in the preambles.

“Representations Letter” means such agreement or agreements by and among the

District, the Bond Registrar and the Depository as shall be necessary to effectuate a Book

Entry Form for the Bonds, and includes expressly any Blanket Letter of Representations

as may have previously been given.

“Rule” means Rule 15c2-12 as promulgated by the Securities and Exchange

Commission.

“Secretary” means the Secretary of the Board and of the District.

“ Tax-exempt” means, with respect to the Bonds, the status of interest paid and

received thereon as excludable from the gross income of the owners thereof under the

Code for federal income tax purposes, except to the extent that such interest will be taken

into account in computing an adjustment used in determining the alternative minimum

tax for certain corporations.

“Term Bonds” means Bonds subject to mandatory redemption by operation of the

Bond Account and designated as Term Bonds in the Bond Order. [Page | 82] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

“Treasurer” means the Treasurer of the District.

B. Definitions also appear in the preambles or in specific sections. The headings in, and the table of contents preceding, this Ordinance are for the convenience of the reader and are

not a part of this Ordinance.

Section 2. Incorporation of Preambles. The Board hereby finds that all of the recitals

contained in the preambles to this Ordinance are true, correct and complete and does incorporate

them into this Ordinance by this reference.

Section 3. Determination to Issue Bonds; Finding as to the Debt Limit. It is necessary

and in the best interests of the District to provide for the Refunding, and to pay all related costs

and expenses incidental thereto, and to borrow money and issue the Bonds for such purposes.

The Board hereby finds and determines that, upon the issuance of the Bonds, the aggregate

outstanding bonded indebtedness of the District, exclusive of bonds issued to create a working

cash fund or otherwise not to be counted against the bonded indebtedness limit of the District as

set forth in the Act, will not exceed one percent (1%) of the assessed valuation of all taxable

property therein as last equalized and determined for state and local taxes.

Section 4. Bond Details. For the purpose of providing for the payment of the costs of

the Refunding, there are hereby authorized to be issued and sold Bonds in an aggregate principal

amount not to exceed $25,000,000. The Bonds may be issued in one or more series (each a

“Series”). The Bonds shall each be designated “General Obligation Limited Tax Refunding

Bond, Series 2011B” or such other series designation as may be stated in a Bond Order. The

Bonds shall be in fully registered form and also in Book Entry Form. The Bonds shall be dated

as of a date not earlier than June 1, 2011, and not later than their initial date of issuance (the

“Dated Date”), as shall be set forth in a Bond Order; each Bond shall also bear its respective

date of authentication; and the Bonds shall be numbered consecutively within each Series in such [June 8, 2011] [JOURNAL OF PROCEEDINGS] Page | 83 reasonable manner as the Bond Registrar shall determine. The Bonds shall become due or subject to mandatory redemption (and subject to right of prior redemption) on January 1 of any of the years 2012 through three years beyond the final year in which Refunded Bonds mature

(each a “ maturity” for the Bonds), in such amounts as shall be set forth in a Bond Order; provided, however, that the sum of the principal of and interest on the Bonds due or subject to mandatory redemption in any Bond Year shall not exceed the Available Base. The Bonds shall bear interest at a rate not to exceed six percent (6.00%) per annum. The Bonds shall be in denominations of $5,000 or integral multiples thereof (but no single such bond shall represent principal maturing on more than one date). Each Bond shall bear interest from the later of its

Dated Date or from the most recent interest payment date to which interest has been paid or duly provided for, semiannually in each year, commencing not earlier than January 1, 2012, and not later than July 1, 2012, as shall be set forth in a Bond Order, at the respective rates percent per annum provided, until the principal thereof shall be paid or duly provided for. So long as the

Bonds are held in Book Entry Form, interest on each Bond shall be paid to the Depository by check or draft or electronic funds transfer, in lawful money of the United States of America, as may be agreed by the District and the Depository; in the event the Bonds should ever become available in physical form to registered owners other than the Depository, interest on each Bond shall be paid by check or draft of the Bond Registrar, payable upon presentation thereof in lawful money of the United States of America, to the person in whose name such Bond is registered at the close of business on the applicable Record Date, and mailed to the address of such registered owner as it appears on the Bond Register or at such other address as may be furnished in writing to the Bond Registrar prior to the Record Date. Interest shall be computed on the basis of a

360-day year of twelve 30-day months. The principal of the Bonds shall be payable upon [Page | 84] [JOURNAL OF PROCEEDINGS] [Wednesday, June 8, 2011]

presentation at the office designated for such purpose of the Bond Registrar. The Bonds may be

Term Bonds as provided in the Bond Order.