Title/Name/Summary
RESOLUTION AUTHORIZING DISSOLUTION OF M&M INVESTMENTS, INC. AND DIRECTING CONVEYANCE OF THE PROPERTY AT 15300 S. 108TH AVENUE TO THE VILLAGE
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WHEREAS, the Village of Orland Park, being the sole shareholder of M&M INVESTMENTS, INC., an Illinois corporation (the "Company"), pursuant to Section 7.10 of the Illinois Business Corporation Act of 1983, as amended (the "Act"), hereby takes the following action;
WHEREAS, on July 18, 2003, the Village purchased all of the outstanding stock of the Company pursuant to the terms and provisions of that certain Stock Purchase Agreement dated on or about June 30, 2003;
WHEREAS, the Village has determined that all of the Company's debts and liabilities have been satisfied;
WHEREAS, the Village deems it to be in the Company's and the Village's best interest for the Company to convey the Company's 33 acres (approximately) of real estate at 15300 S. 108th Avenue, subject to the August 14, 2007, GRANT OF CONSERVATION RIGHT AND EASEMENT recorded on September 7, 2007, as document number 0725003085, to the Village and to thereafter liquidate and dissolve the Company;
NOW, THEREFORE, BE IT RESOLVED by the Village of Orland Park, Cook and Will Counties, Illinois, that the Company liquidate and dissolve by distributing all of the Company's assets (consisting of the above-referenced real estate) to the Village, by such documents and procedures as are customary and appropriate in the circumstances;
AND BE IT FURTHER RESOLVED that DANIEL J. McLAUGHLIN, President of the Village of Orland Park, be and he hereby is appointed as the Company's attorney in fact for the purposes of preparing and executing any and all such documents necessary to effectuate the foregoing, including but not limited to:
i. Preparing, executing and recording one or more quit claim deeds for the Company's real estate located at 15300 S. 108th Avenue, Orland Park, Illinois;
ii. Preparing Articles of Dissolution for filing with the Secretary ...
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