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HomeMy Public PortalAboutOrdinance 0617 ORDINANCE Np. ~,~ AN dRDINANCE AUTHQRIZT NG THE ISSUANCE QF TAX ANTICIPATTaN WARRANTS TN ANTTCI- PATION OF TAXES LEVIED FOR THE YEAR 1963 OF THE VILLAGE OF PLAINFIELD, IN THE Cn~1'NTY OF WILL IN THE STATE' QF ILLIPI'C7IS WHEREAS, there is not sufficient money in the treasury of the Village of Plainfield to meet and defray the necessary expenses thereof, and WHEREAS, the President and the Board of Trustees of the Villag® of Plainfield, in the County of Will, in the State of Illinois, deem it advisable, nee®ssary and far the best interest of the Village of Plainfield that ,funds be barrawed far t~.e purpose of meeting and de- fraying the nee®ssary expenses of the Village of Plainfield, and in evidence thereof to issue its tax antic3.patian warrants in antic3.pa- tion of the taxes of said Village of Plainfield for all corporat® purposes, including police officers t annual salary„ extra pol~.ae salary, gasoline for police car, and maintenance of street and eleca-» tricity for street lighting. NOW THEREFORE, BE IT ©RDAINED BY TAE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF PLAINFTELD, AS FOLLOWS: SECTION 1: That money be barrawed (rats time to time as needed to meet and defray the necessary expenses of the Village of Plainfield and in evidence thereof that there be issued warrants of this Village against and in anticipation of the collection of th® tax levies, respec» tively, for the year 1963, far all corporate purposes, including police officers t annual salary, extra police salary, gaaalitae far police car, and maintenance of street and electricity far street lighting, said warrants to bear interest at not to exceed one per cent (1`~) per annum, froth th®ir date until paid or until nvtic® shall b® given by publication in a newspaper or otherwise that the money far its payment is available and that it will be paid an presentation, such warrants to be numbered hum®rically in the order in which they are issued and shall show upon their face that they ,are payable in the n°asterical order of their issuanc® and solely from sugh taxes when co~.lected, and shall be r®- ceived by any collector of taxes in payment of the tax against which ' ~ • • ~~ ~_; they are issued. Said warrants shall not be issued ~.n excess of seventy- five per cent (75~) of the total amounts of the tax so levied, which said tax is hereby assigned and pledged to the payment of said xarrants, and such taxes when collected shall be set apart and held for their payments. s~cTloN 2: following forms That said warrants shall be in substantially the UNITED STATES OF AMERICA STATE OF ILLINgIS COU1V'TY of WILL VILLAGE of PLATNFZEI,D TAX ANTICIPATION WARRANT (Mere insert purpose) NO . KNOW ALL MEN BY THESE PRESENTS, That the Village of P lainfield in the County of Will and State of Illinois, xill peg to bearer at the P lain- field National Sank in said Village, the sum of Dollars (~ ) with interest thereon at the rate a per sent • , p®r annum from then date hereof until paid or u~~'r notice shall be given bg publication in a 'newspaper or otherwise that tnoneg for its payment is available and that it will be paid on presentation, Principal hereof and interest hereon xill be paid-in lawful money of the United States of America Pram the proceeds of takes, xhen received, heretofore levi®d upon all the taxable property in said Village of Plainfield for the year 1963 for (here insert purpose for which war- rant is issued). This warrant is issued in anticipation of taxes so levied for the year 1963 and in pursuancse to an ordinance entitled "An Ordinance Authorizing the Issuance of Tax Anticipation Warrants in Anticipation of Taxes Levied for the year 1963, of the Village of Plainfi®ld, of the County of Will, state of Illinois" to provide a fund to meet and defray the necessary expenses of said Village of Plainfield for (here 3.neert purpose for which xarrant is issued), and is payable, bath principal and interest, in th® numerical order of its issuance salelg from said taxes when collected, which taxes are hereby assigned and pledged to the payment of this warrant and of all warrants issued against and in anticipation of such taxes, the fatal of which warrants so issued does not exceed seventy-five per cent (75~) of the tax levg made therefor and shall be received by any collector oP taxes in pay- z~ent of the taxes against Khich it is issued. It is hereby certifi®d that all acts, conditions and things required by law to be done precedent to and i.n the issuance thereof have been properly done, have happened and have been performed as authorized by an Act entitled "An Acct to Revise and Codify the Laws.Relat3.ng to Cities, Villages and Incorporated Towns and to Repeal Acts and Parts of Acts therein Named", approved May 29, 1961, as am®nded, and by all other laws thereunto enabling. IN TESTIMONY WHEREOF, the President and Board of Trustees of the Village of Plainfield has caused the corporate seal. of said Village _~_ to be hereto affixed and this warr~.nt to be signed by its President anal attested by its clerk and registered, numbered and count®rsignsd by its treasurer as of the day of , A. U. 196th.. Prss ant of t e V llage o Plainfield in the County of Will and State of Illinois Attest: er age o a e , in the County of Will and State of Illinois Registered, Numbered and Countersigned; reasurer, Vi age o a e , in the County of Will and State of Illinois SECTTOPT 3. That the President and Clerk of this Village be and they are hereby authorized to execut®, issue and dispose of said tax anticipation warrants at not less than par and accrued interest, from time to time as funds are needed to defray the necessary expenses of this Village, and that said warrants bs of such dates and in such denominations as they' deem advisable and agreeable to the purchaser thereof. Before said warrants are ~.ssued, they shall be registered, countersigned and numbered by the Treasurer of this Village. SECTIpN t~: Th.is ordinance shall be in force and effect from and after its passage and approval. SECTTQI~ ~. All ordinances or parts of ordinances in conf list herewith, or any seatian hereof, are hereby repealed. PASSED this ].8th day of May', A. D. lgbt~.. ' r res en ATTEST: _, ..- .~_..__ -- ~ ,... .. .- : ~r...~-_..._... -y,,.-~~ ~- .r r.- '~~