Official Statement $9525000* VILLAGE OF ADDISON DuPage County, Illinois General Obligation ...

246 Pages·2016·1.75 MB·English

New Issue Investment Ratings:
Date of Sale: October 3, 2016 S&P Global Ratings … AA/Stable
Between 10:00 and 10:15 A.M., C.D.T. Fitch Ratings … AA+/Stable
(Open Speer Auction)
Official Statement

Subject to compliance by the Village with certain covenants, in the opinion of Chapman and Cutler LLP, Bond Counsel, under present law, interest on the Bonds is excludable
from gross income of the owners thereof for federal income tax purposes and is not included as an item of tax preference in computing the federal alternative minimum tax for individuals
and corporations, but such interest is taken into account in computing an adjustment used in determining the federal alternative minimum tax for certain corporations. Interest on the Bonds
is not exempt from present State of Illinois income taxes. See “TAX EXEMPTION” herein for a more complete discussion. The Bonds are “qualified tax-exempt obligations” under
Section 265(b)(3) of the Internal Revenue Code of 1986, as amended. See “QUALIFIED TAX-EXEMPT OBLIGATIONS” herein.

$9,525,000*
VILLAGE OF ADDISON
DuPage County, Illinois
General Obligation Bonds, Series 2016A

Dated Date of Delivery Book-Entry Bank Qualified Due As Described Below

The $9,525,000* General Obligation Bonds, Series 2016A (the “Bonds”) are being issued by the Village of Addison, DuPage County, Illinois (the
“Village”). Interest is payable semiannually on June 15 and December 15 of each year, commencing June 15, 2017. Interest is calculated based on a 360-day year
of twelve 30-day months. The Bonds will be issued using a book-entry system. The Depository Trust Company (“DTC”), New York, New York, will act as
securities depository for the Bonds. The ownership of one fully registered Bond for each maturity will be registered in the name of Cede & Co., as nominee for
DTC and no physical delivery of Bonds will be made to purchasers. The Bonds will mature on December 15 in the following years and amounts.

AMOUNTS*, MATURITIES, INTEREST RATES, PRICES OR YIELDS AND CUSIP NUMBERS

Principal Due Interest Yield or CUSIP(1) Principal Due Interest Yield or CUSIP(1)
Amount* Dec. 15 Rate Price Number Amount* Dec. 15 Rate Price Number
$345,000 ................. 2021 ______% ______% _________ $475,000 ................ 2030 ______% ______% _________
355,000 ................. 2022 ______% ______% _________ 500,000 ................ 2031 ______% ______% _________
365,000 ................. 2023 ______% ______% _________ 520,000 ................ 2032 ______% ______% _________
380,000 ................. 2024 ______% ______% _________ 845,000 ................ 2033 ______% ______% _________
390,000 ................. 2025 ______% ______% _________ 865,000 ................ 2034 ______% ______% _________
405,000 ................. 2026 ______% ______% _________ 890,000 ................ 2035 ______% ______% _________
420,000 ................. 2027 ______% ______% _________ 920,000 ................ 2036 ______% ______% _________
440,000 ................. 2028 ______% ______% _________ 950,000 ................ 2037 ______% ______% _________
460,000 ................. 2029 ______% ______% _________

Any consecutive maturities may be aggregated into term bonds at the option of the bidder,
in which case the mandatory redemption provisions shall be on the same schedule as above.

OPTIONAL REDEMPTION

Bonds due December 15, 2021-2024, inclusive, are non-callable. Bonds due December 15, 2025-2037, inclusive, are callable in whole or in part on any
date on or after December 15, 2024, at a price of par and accrued interest. If less than all the Bonds are called, they shall be redeemed in such principal amounts
and from such maturities as determined by the Village and within any maturity by lot. See “OPTIONAL REDEMPTION” herein.

PURPOSE, LEGALITY AND SECURITY

Bond proceeds will be used to finance the construction of an emergency services dispatch center and to provide funds for other capital projects (together,
the “Project”) and to pay the costs of issuance on the Bonds. See “THE PROJECT” herein.

In the opinion of Chapman and Cutler LLP, Chicago, Illinois, Bond Counsel, the Bonds are valid and legally binding upon the Village and are payable
from any funds of the Village legally available for such purpose, and all taxable property in the Village is subject to the levy of taxes to pay the same without
limitation as to rate or amount, except that the rights of the owners of the Bonds and the enforceability of the Bonds may be limited by bankruptcy, insolvency,
moratorium, reorganization and other similar laws affecting creditors’ rights and by equitable principles, whether considered at law or in equity, including the
exercise of judicial discretion.

The Bonds are “qualified tax-exempt obligations” under Section 265(b)(3) of the Internal Revenue Code of 1986, as amended. See “Qualified Tax-
Exempt Obligations” herein.

This Official Statement is dated September 20, 2016, and has been prepared under the authority of the Village. An electronic copy of this Official
Statement is available from the www.speerfinancial.com web site under “Debt Auction Center/Competitive Official Statement Sales Calendar”. Additional copies
may be obtained from Ms. Roseanne M. Benson, Village Treasurer, Village of Addison, 1 Friendship Plaza, Addison, Illinois 60101, or from the Municipal
Advisors to the Village:

*Subject to change.

(1) CUSIP numbers appearing in this Official Statement have been provided by the CUSIP Service Bureau, which is managed on behalf of the American Bankers Association by S&P Global Ratings. The Village is

not responsible for the selection of CUSIP numbers and makes no representation as to their correctness on the Bonds or as set forth on the cover of this Official Statement.
For purposes of compliance with Rule 15c2-12 of the Securities and Exchange Commission, this document, as
the same may be supplemented or corrected by the Village from time to time (collectively, the “Official Statement”),
may be treated as an Official Statement with respect to the Bonds described herein that is deemed near final as of the
date hereof (or the date of any such supplement or correction) by the Village.

The Official Statement, when further supplemented by an addendum or addenda specifying the maturity dates,
principal amounts and interest rates of the Bonds, together with any other information required by law or deemed
appropriate by the Village, shall constitute a “Final Official Statement” of the Village with respect to the Bonds, as that
term is defined in Rule 15c2-12. Any such addendum or addenda shall, on and after the date thereof, be fully
incorporated herein and made a part hereof by reference. Alternatively, such final terms of the Bonds and other
information may be included in a separate document entitled “Final Official Statement” rather than through
supplementing the Official Statement by an addendum or addenda.

No dealer, broker, salesman or other person has been authorized by the Village to give any information or to
make any representations with respect to the Bonds other than as contained in the Official Statement or the Final
Official Statement and, if given or made, such other information or representations must not be relied upon as having
been authorized by the Village. Certain information contained in the Official Statement and the Final Official Statement
may have been obtained from sources other than records of the Village and, while believed to be reliable, is not
guaranteed as to completeness. THE INFORMATION AND EXPRESSIONS OF OPINION IN THE OFFICIAL
STATEMENT AND THE FINAL OFFICIAL STATEMENT ARE SUBJECT TO CHANGE, AND NEITHER THE
DELIVERY OF THE OFFICIAL STATEMENT OR THE FINAL OFFICIAL STATEMENT NOR ANY SALE
MADE UNDER EITHER SUCH DOCUMENT SHALL CREATE ANY IMPLICATION THAT THERE HAS BEEN
NO CHANGE IN THE AFFAIRS OF THE VILLAGE SINCE THE RESPECTIVE DATES THEREOF.

References herein to laws, rules, regulations, ordinances, resolutions, agreements, reports and other documents
do not purport to be comprehensive or definitive. All references to such documents are qualified in their entirety by
reference to the particular document, the full text of which may contain qualifications of and exceptions to statements
made herein. Where full texts have not been included as appendices to the Official Statement, they will be furnished on
request. This Official Statement does not constitute an offer to sell, or solicitation of an offer to buy, any securities to
any person in any jurisdiction where such offer or solicitation of such offer would be unlawful.

The tax advice contained in this Official Statement is not intended or written by the Village, its Bond Counsel,
or any other tax practitioner to be used, and it cannot be used, by any taxpayer for the purpose of avoiding penalties
that may be imposed on the taxpayer. The tax advice contained in this Official Statement was written to support the
promotion or marketing of the Bonds. Each taxpayer should seek advice based on the taxpayer’s particular
circumstances from an independent tax advisor.

(i)
Table of Contents
BOND ISSUE SUMMARY ............................................................................................................................................... 1
AUTHORIZATION, PURPOSE AND SECURITY ................................................................................................................ 2
OPTIONAL REDEMPTION ............................................................................................................................................ 3
THE VILLAGE ............................................................................................................................................................. 3
Village Organization and Services .................................................................................................................................... 3
Local Economy ........................................................................................................................................................... 4
Transportation ............................................................................................................................................................ 5
Community Life .......................................................................................................................................................... 5
Education .................................................................................................................................................................. 5
SOCIOECONOMIC INFORMATION ................................................................................................................................ 6
Employment .............................................................................................................................................................. 6
Building Permits ......................................................................................................................................................... 9
Housing .................................................................................................................................................................... 9
Income ................................................................................................................................................................... 10
Retail Activity .......................................................................................................................................................... 12
THE PROJECT .......................................................................................................................................................... 12
DEBT INFORMATION ................................................................................................................................................ 13
PROPERTY ASSESSMENT AND TAX INFORMATION ..................................................................................................... 15
REAL PROPERTY ASSESSMENT, TAX LEVY AND COLLECTION PROCEDURES .............................................................. 17
Tax Levy and Collection Procedures ............................................................................................................................... 17
Exemptions .............................................................................................................................................................. 18
Property Tax Extension Limitation Law ........................................................................................................................... 19
Truth in Taxation Law ................................................................................................................................................ 20
FINANCIAL INFORMATION ....................................................................................................................................... 20
Relevant Financial Policies ........................................................................................................................................... 20
Budgeting................................................................................................................................................................ 20
Investment Policy ...................................................................................................................................................... 21
Financial Reports ...................................................................................................................................................... 21
No Consent or Updated Information Requested of the Auditor ................................................................................................ 21
Summary Financial Information ..................................................................................................................................... 21
EMPLOYEE RETIREMENT AND OTHER POSTEMPLOYMENT BENEFITS OBLIGATIONS.................................................. 26
REGISTRATION, TRANSFER AND EXCHANGE ............................................................................................................. 26
TAX EXEMPTION ...................................................................................................................................................... 27
QUALIFIED TAX-EXEMPT OBLIGATIONS ................................................................................................................... 29
CONTINUING DISCLOSURE ....................................................................................................................................... 30
LITIGATION ............................................................................................................................................................. 30
CERTAIN LEGAL MATTERS ....................................................................................................................................... 30
OFFICIAL STATEMENT AUTHORIZATION .................................................................................................................. 30
INVESTMENT RATINGS ............................................................................................................................................. 31
DEFEASANCE ........................................................................................................................................................... 31
UNDERWRITING ....................................................................................................................................................... 31
MUNICIPAL ADVISOR ............................................................................................................................................... 31
CERTIFICATION ....................................................................................................................................................... 32
APPENDIX A - FISCAL YEAR 2015 AUDITED FINANCIAL STATEMENTS
APPENDIX B - DESCRIBING BOOK-ENTRY-ONLY ISSUANCE
APPENDIX C - PROPOSED FORM OF OPINION OF BOND COUNSEL
APPENDIX D - EXCERPTS OF FISCAL YEAR 2015 AUDITED FINANCIAL STATEMENTS RELATING TO THE DISTRICT’S PENSION
PLANS
APPENDIX E - CONTINUING DISCLOSURE UNDERTAKING
OFFICAL BID FORM
OFFICIAL NOTICE OF SALE

(ii)
Village of Addison, DuPage County, Illinois

General Obligation Bonds, Series 2016A

BOND ISSUE SUMMARY

This Bond Issue Summary is expressly qualified by the entire Official Statement, including the Official Notice of Sale and the Official
Bid Form, which are provided for the convenience of potential investors and which should be reviewed in their entirety by potential investors.

Issuer: Village of Addison, DuPage County, Illinois.

Issue: $9,525,000* General Obligation Bonds, Series 2016A.

Dated Date: Date of delivery, which is expected to be on or about October 19, 2016.

Interest Due: Each June 15 and December 15, commencing June 15, 2017.

Principal Due: Serially each December 15, commencing December 15, 2021 through December 15, 2037, as detailed
on the front page of this Official Statement.

Optional Redemption: Bonds maturing on or after December 15, 2025, are callable at the option of the Village on any date
on or after December 15, 2024, at a price of par plus accrued interest. See “OPTIONAL
REDEMPTION” herein.

Authorization: The Bonds are being issued pursuant to the home rule powers of the Village and pursuant to an
ordinance adopted by the President and Board of Trustees of the Village (the “Ordinance”).

Security: The Bonds are valid and legally binding upon the Village and are payable from any funds of the
Village legally available for such purpose, and all taxable property in the Village is subject to the levy
of taxes to pay the same without limitation as to rate or amount, except that the rights of the owners of
the Bonds and the enforceability of the Bonds may be limited by bankruptcy, insolvency, moratorium,
reorganization and other similar laws affecting creditors’ rights and by equitable principles, whether
considered at law or in equity, including the exercise of judicial discretion.

Credit Rating: The Bonds have been rated “AA/Stable” from S&P Global Ratings and “AA+/Stable” from Fitch
Ratings.

Purpose: Bond proceeds will be used to finance the construction of an emergency services dispatch center, to
provide funds for other capital projects and to pay the costs of issuance on the Bonds. See “THE
PROJECT” herein.

Tax Exemption: Chapman and Cutler LLP, Chicago, Illinois, will provide an opinion as to the federal tax exemption
of the interest on the Bonds as discussed under “TAX EXEMPTION” in this Official Statement.
Interest on the Bonds is not exempt from present State of Illinois income taxes.

Bank Qualification: The Bonds are “qualified tax-exempt obligations” under Section 265(b)(3) of the Internal Revenue
Code of 1986, as amended. See “QUALIFIED TAX-EXEMPT OBLIGATIONS” herein.

Bond Registrar/Paying Agent: Amalgamated Bank of Chicago, Chicago, Illinois.

Delivery: The Bonds are expected to be delivered on or about October 19, 2016.

Book-Entry Form: The Bonds will be registered in the name of Cede & Co. as nominee for The Depository Trust
Company (“DTC”), New York, New York. DTC will act as securities depository of the Bonds. See
APPENDIX B herein.

Denomination: $5,000 or integral multiples thereof.

Municipal Advisor: Speer Financial, Inc., Chicago, Illinois.

*Subject to change.

1
Village of Addison, DuPage County, Illinois

General Obligation Bonds, Series 2016A

VILLAGE OF ADDISON
DuPage County, Illinois

Richard H. Veenstra
Village Mayor

Village Trustees

Thomas Hundley/Deputy Mayor Sylvia Layne Joseph McDermott
Catherine Kluczny William Lynch Harold Theodore

__________________________________

Officials

Lucille A. Zucchero Joseph E. Block Roseanne M. Benson
Village Clerk Village Manager Finance Director/Treasurer

Robbins Schwartz
Village Attorney

AUTHORIZATION, PURPOSE AND SECURITY

The General Obligation Bonds, Series 2016A (the “Bonds”), are being issued pursuant to the home rule powers
of the Village of Addison, DuPage County, Illinois (the “Village”), under Section 6 of Article VII of the 1970
Constitution of the State of Illinois. The Bonds are issuable pursuant to a bond ordinance adopted by the President and
Board of Trustees of the Village on the 3rd day of October, 2016 (the “Bond Ordinance”). Bond proceeds will be used
to finance construction of an emergency services dispatch center, to provide funds for other capital projects (the
“Project”) and to pay the cost of issuance of the Bonds. In the opinion of Chapman and Cutler LLP, Chicago, Illinois
(“Bond Counsel”) the Bonds are valid and legally binding upon the Village, and are payable from any funds of the
Village legally available for such purpose, and all taxable property in the Village is subject to the levy of taxes to pay
the same without limitation as to rate or amount, except that the rights of the owners of the Bonds and the enforceability
of the Bonds may be limited by bankruptcy, insolvency, moratorium, reorganization and other similar laws affecting
creditors’ rights and by equitable principles, whether considered at law or in equity, including the exercise of judicial
discretion. The Bond Ordinance provides for the levy of ad valorem taxes, unlimited as to rate or amount, upon all
taxable property within the Village in amounts sufficient to pay, as and when due, all principal of and interest on the
Bonds. The Bond Ordinance will be filed with the County Clerk of DuPage County, Illinois (the “County Clerk”), and
will serve as authorization for the County Clerk to extend and collect the property taxes as set forth in the Bond
Ordinance.
2
Village of Addison, DuPage County, Illinois

General Obligation Bonds, Series 2016A

OPTIONAL REDEMPTION

Bonds due December 15, 2021-2024, inclusive, are non-callable. Bonds due December 15, 2025-2037,
inclusive, are callable in whole or in part on any date on or after December 15, 2024, at a price of par and accrued
interest. If less than all the Bonds are called, they shall be redeemed in such principal amounts and from such
maturities as determined by the Village and within any maturity by lot.

The Bond Registrar will give notice of redemption, identifying the Bonds (or portions thereof) to be redeemed,
by mailing a copy of the redemption notice by first class mail not less than thirty (30) days nor more than sixty (60)
days prior to the date fixed for redemption to the registered owner of each Bond (or portion thereof) to be redeemed at
the address shown on the registration books maintained by the Bond Registrar. Unless moneys sufficient to pay the
redemption price of the Bonds to be redeemed are received by the Bond Registrar prior to the giving of such notice of
redemption, such notice may, at the option of the Village, state that said redemption will 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 will be of no force and effect, the Village will not redeem such Bonds, and the Bond Registrar will give
notice, in the same manner in which the notice of redemption has been given, that such moneys were not so received
and that such Bonds will not be redeemed. Otherwise, prior to any redemption date, the Village will deposit with the
Bond Registrar an amount of money sufficient to pay the redemption price of all the Bonds or portions of Bonds which
are to be redeemed on the date.

Subject to the provisions for a conditional redemption described above, notice of redemption having been given
as described above and in the Ordinance, the Bonds or portions of Bonds to be redeemed will, on the redemption date,
become due and payable at the redemption price therein specified, and from and after such date (unless the Village 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 will be paid by the Bond Registrar
at the redemption price.

THE VILLAGE

The Village was incorporated in 1884 and is located in DuPage County, approximately 25 miles west of the
Chicago Loop business district. Adjacent to the Village to the north are the communities of Wood Dale and Itasca; to
the east is Elmhurst; to the south are Villa Park, Glendale Heights and Lombard; and to the west is primarily
unincorporated land. O'Hare International Airport is approximately 14 miles northeast of the Village, a 20 minute
drive by expressway. The population of the Village at the 2010 U.S. Census was 36,942. The Village covers an area
of approximately nine square miles and does annex parcels within the Village as they become available.

Village Organization and Services

The Village is a home rule municipality under the Constitution of the State of Illinois. The Village is governed
by a Mayor and six trustees elected at-large for staggered four year terms. The Clerk is also elected at-large for a 4-
year term. Serving under appointment of the Village Mayor are the Village Manager, Treasurer, Director of Police
and Village Attorney. Total Village employment is 152 full-time and 20 part-time persons. The only unionized Village
employees are patrol officers in the Police Department. The Village’s union wage and benefit package for patrol
officers expires on October 31, 2018.

3
Village of Addison, DuPage County, Illinois

General Obligation Bonds, Series 2016A

Police protection is provided by the Village of Addison Police Department (the “Department”), which consists
of 67 sworn officers. The Department operates from one central station which is part of the Village Hall. Fire
protection and ambulance services are provided by the Addison Fire Protection District, a separate unit of government.

The Addison Consolidated Dispatch Center (the “Center”) opened mid fiscal year 2012. The Village expanded
the Center and provided Police Dispatch Services for the Village of Bensenville, the Village of Bloomingdale, the
DuPage County Forest Preserve District, the Village of Wood Dale, the City of Itasca and the Village of Glendale
Heights. The Center has also established agreements to provide Fire Dispatch services to Addison Fire Protection
District, Itasca Fire Department, Pleasantview Fire Protection District, Tri-State Fire Protection District, Bensenville
Fire Protection District and Wood Dale Fire Department. Agreements with additional agencies are in the process of
being approved.

The Village is a member of the DuPage Water Commission and is participating with other communities in
purchasing and transporting Lake Michigan water from the City of Chicago. Water distribution from Lake Michigan
began in 1992.

A sewerage collection system and two treatment plants are owned and operated by the Village. The sewerage
system has capacity for 8.5 million gallons daily (MGD), and treats approximately 5.09 MGD.

Local Economy

The Village has a diversified commercial and retail base, as well as a substantial number of small and medium
sized manufacturing companies. The Village is home to the largest industrial park in DuPage County and the fourth
largest in Illinois, with 1,200 acres of industrial park, 800 acres of which are sheltered (with structures). Recent studies
report a 96% occupancy rate in the industrial park.

With a central location in the metropolitan area, the Village has attracted several regional distribution facilities,
the largest being the United Parcel Service Distribution Center, which employs over 2,900 people. The Village is also the
site of the international headquarters and expanded warehouse facilities for The Pampered Chef, a supplier of high-end
kitchen utilities. The 43 acre site includes a 600,000 square foot warehouse and an 180,000 square foot office building.

The Lake Street Business and Entertainment Corridor is home to several commercial properties including a
membership shopping club, big box retail store, hotel, movie theatre complex, drugstores, and several restaurants ranging
from fast food and coffee shops to elegant steakhouse dining. The addition of a Caputo’s grocery store (specializing in
Italian, Mexican, Polish and Middle Eastern items) and Jimenez grocery provide specialty grocery shopping to the
Village’s ethnically diverse community and for the surrounding communities.

The Village government has actively promoted the Village to prospective business owners, and has constructed an
extensive streetscape beautification project along the Lake Street Corridor. Other development promotions utilized by the
Village include tax increment financing (TIF) incentives, various state grants and loans, and sales tax sharing
arrangements used as a development incentive.

The Village completed a feasibility study for the establishment of a Town Center in the commercial area located
north of Lake Street and west of Addison Road (the eastern section of the Village). The Town Center would redevelop
this large and important commercial area of the Village and serve as a community focal point. The Village approved the
plan and established it as a TIF district during FY 2007.
4
Village of Addison, DuPage County, Illinois

General Obligation Bonds, Series 2016A

Transportation

Addison is well located with major transportation arteries in all directions. It is located immediately south of
the I-290 (Eisenhower Expressway)/I-355 intersection. The Village is dissected by Lake Street and Army Trail Road,
both major four-lane roadways that have access onto I-290 and I-355. The Village is bordered on the East by Illinois
Route 83. The North-South I-355 Tollway connects to the south of the Village with Interstate 55, and continues north
of the Village as Route 53. Interstate 355 was completed in 1989, and has promoted economic development both in the
Village and in the adjacent unincorporated areas.

O'Hare International Airport is approximately 14 miles northeast of the Village. Commuter rail transportation
is available from the Metropolitan Rail (METRA) system. The Milwaukee Road Metra train station in Wood Dale and
the Northwestern Metra station in Villa Park are each approximately five miles from the Village. The regional PACE
bus system has bus service to portions of the Village, part of which cost is subsidized by the Village.

Community Life

Park and recreation services are provided by the Addison Park District (the “District”), a separate unit of
government. The District manages 24 park sites, a nine-hole golf course, a miniature golf course, an outdoor driving
range, an indoor driving range and two community recreation centers.

The Village’s Community Relations department handles public communications for the Village and has six
employees. As part of their responsibilities, the department operates a cable television station with service provided by
Comcast and AT&T. The department operates the studio and provides, among other activities, televised and live
streaming video of Village Board meetings, televised special community events and community information bulletins.
Every 1st and 3rd Monday of the month they host Before the Board, a show that appears prior to the board meeting and
highlights activities and initiatives of the Village. The 1st meeting includes Ask Mayor Veenstra with live call in or
texting of questions by residents.

Hospitals providing area medical care include Edward-Elmhurst Memorial Hospital located in Elmhurst,
Alexian Brothers Medical Center located in Elk Grove Village and Glen Oaks Hospital located in Glendale Heights.
The Edward-Elmhurst Health Center Addison opened its 55,000 square foot facility in 2012. The new facility replaces
an existing building and includes enhanced services such as physician office space, expanded laboratory services,
radiology and immediate care. Alexian Brothers Hospital Network also maintains a state of the art 11,200 square foot
care and diagnostic imaging center in the Village.

The Addison Public Library (the “Library”) is administered by a separately elected governing board, although
the Village Board is the corporate authority for fiscal management of the Library. It is located adjacent to the Village
Hall and has a collection of over 183,070 items.

Education

Elementary education is provided primarily by Addison School District Number 4 (“District 4”), which has an
enrollment of approximately 4,300 students among its seven elementary and one junior high school facilities. One
private parochial school (St. Phillips) also provides elementary education. Secondary education is provided primarily
by DuPage High School District Number 88 (“District 88”) in its Addison Trail High School, which has an enrollment
of approximately 1,700 students.
5
Village of Addison, DuPage County, Illinois

General Obligation Bonds, Series 2016A

Opportunities for higher learning are provided for Village residents by the College of DuPage ("COD"),
Community College District Number 502, and various colleges and universities throughout the Chicago metropolitan
area. With an annual enrollment of over 28,000, COD is the largest community college in the State of Illinois in terms
of enrollment. COD operates branch educational centers in three DuPage county communities, including the College of
DuPage Addison Center, located at the Technology Center of DuPage. Educational programs in over 80 areas of study
include associate degrees, college transfer classes, occupational and vocational programs, continuing education, and
special programs such as the Older Adult Institute and the Business and Professional Institute. COD employs
approximately 3,000 full and part time employees.

DeVry University is a private business and technology school which has ten campuses in the United States and
three campuses in Canada. The Addison campus is one of four in Illinois; the others are located in Chicago, Naperville
and Tinley Park. DeVry officials estimate that several thousand full and part-time students are enrolled. DeVry offers
associate and bachelors degrees in electronics and engineering technology, business technology programs in accounting,
business operations, computer information and telecommunications management. The Chamberlain College of Nursing
(“Chamberlain”) was recently added to the Addison campus. Chamberlain, a subsidiary of DeVry, offers on-line and
on-site undergraduate nursing degree programs both in Addison and at their Phoenix, Arizona, campus.

SOCIOECONOMIC INFORMATION
Employment

The following employment data shows a consistently diverse and strong growth trend for employment in
DuPage County. This data is NOT comparable to similar U.S. Census statistics, which would include government
employment, and establishments not covered by the Illinois Unemployment Insurance Program, and could classify
employment categories differently.

DuPage County Private, Non-Agricultural Employment
Covered by the Illinois Unemployment Insurance Act(1)

(Data as of March for each Year)
2011 2012 2013 2014 2015
Farm, Forestry, Fisheries ...................................................... 243 342 322 341 316
Mining and Quarrying ............................................................ 77 96 253 269 276
Construction .......................................................................... 19,063 18,558 19,459 21,631 23,613
Manufacturing ....................................................................... 50,700 52,024 53,073 53,269 55,224
Transportation, Communications, Utilities ............................. 34,315 34,992 35,232 34,486 34,863
Wholesale Trade ................................................................... 45,609 47,015 49,281 51,638 51,530
Retail Trade ........................................................................... 60,903 61,120 61,834 62,292 59,960
Finance, Insurance, Real Estate ........................................... 37,365 38,220 40,012 39,785 39,882
Services(2) ............................................................................ 251,853 257,521 270,266 278,525 278,699
Total .................................................................................... 500,128 509,888 529,732 542,236 544,363

Notes: (1) Source: Illinois Department of Employment Security.
(2) Includes unclassified establishments.

6
Village of Addison, DuPage County, Illinois

General Obligation Bonds, Series 2016A

Following are lists of large employers located in the Village and in the surrounding area.

Major Village Employers(1)

Approximate
Name Product/Service Employment
Goodwill Retail Services ................................................................... Retail ........................................................................................................ 3,000
United Parcel Service ........................................................................ Parcel Delivery Service ............................................................................ 2,914
Pampered Chef, Ltd. ......................................................................... Kitchen Tools Distributor .......................................................................... 788
Dynamac ........................................................................................... Precision CNC Machiing Facility .............................................................. 582
DeVry University, Inc. ........................................................................ Technical College .................................................................................... 400
Associated Material Handling Industries, Inc. ................................... Industrial Machinery and Equipment ....................................................... 350
Mens Warehouse & Tux .................................................................... Retail ........................................................................................................ 258
Jewel Food Stores ............................................................................ Grocery Stores ......................................................................................... 250
Unisource .......................................................................................... Printing and Writing Paper ....................................................................... 250
Family Home Health Service ............................................................. Home Care Provider ................................................................................ 250
Syncreon Tech USA LLC .................................................................. Integrated Logistics Services ................................................................... 250
Overton Chicago Gear Corp ............................................................. Speed Changers, Drives and Gears ........................................................ 200
Xentris Wireless, LLC ........................................................................ Cellular Telephone Antennas .................................................................. 200
Partstown, Innc. ................................................................................ Kitchen Equipment ................................................................................... 200
ADT Securities Services, Inc. ............................................................ Security and Fire Alarm Systems ............................................................ 175
SimplexGrinnell LP ............................................................................ Service Establishment Equipment ........................................................... 170
Rollprint Packaging Products, Inc. .................................................... Flexible Packaging Materials ................................................................... 162
Blackhawk Molding Co., Inc. ............................................................. Plastic Products ....................................................................................... 160
Fastener Sorting Corp. ...................................................................... Bolts, Nuts, Rivets and Washers ............................................................. 150
SWD, Inc. .......................................................................................... Plastic and Polishing ................................................................................ 150

Note: (1) Source: 2016 Illinois Manufacturers Directory, 2016 Illinois Services Directory and the Village.

Major Area Employers(1)

Approximate
Location Name Product/Service Employment
Hoffman Estates ............. Sears Holding Corp. ............................................... Retail Chain Corporate Headquarters ................................... 4,800
Elgin ............................... School District Number 46 ...................................... Public School District ............................................................. 4,170
Downers Grove .............. DuPage Medical Group .......................................... Physicians Medical Group ..................................................... 3,200
Elk Grove ....................... Alexian Brothers Medical Center ............................ Regional Medical Center ....................................................... 3,100
Elmhurst ......................... Edwards - Elmhurst Hospital .................................. General Hospital .................................................................... 2,800
Downers Grove .............. Advocate Good Samaritan Hospital ....................... Hospital and Health Care Services ........................................ 2,700
Schaumburg ................... Zurich American Insurance Co. .............................. Life Insurance Corporate Headquarters ................................ 2,500
Elgin ............................... Chase ..................................................................... Credit Card Processing ......................................................... 2,500
Elgin ............................... Advocate Sherman Hospital ................................... General Hospital .................................................................... 2,200
Oak Brook ...................... McDonald's Corp. ................................................... Corporate Headquarters; Fast Food Restaurant ................... 2,100
Hoffman Estates ............. St. Alexius Medical Center ..................................... Full Service Hospital .............................................................. 1,900
Elk Grove ....................... Automatic Data Processing, Employer Services .... Data Processing and Payroll Services .................................. 1,500
Elgin ............................... Presence St. Joseph Hospital ................................ General Hospital .................................................................... 1,300
Elk Grove ....................... John B. Sanfilippo & Sons, Inc. .............................. Snack Foods Corporate Headquarters .................................. 1,200
Oak Brook ...................... One TouchPoint Corp. ............................................ Printing .................................................................................. 985
Schaumburg ................... Motorola Solutions, Inc. .......................................... Communications .................................................................... 970
Downers Grove .............. DeVry Education Group .......................................... Education ............................................................................... 930
Oak Brook ...................... Ace Hardware Corp. ............................................... Company Headquarters; Paints and Allied Products ............ 900
Oak Brook ...................... Advocate Health Care............................................. Company Headquarters and Health Care Services .............. 800

Note: (1) Source: 2016 Illinois Manufacturers Directory, 2016 Illinois Services Directory, the Village and other sources.
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