HomeMy Public PortalAboutResolution 1547
VILLAGE OF PLAINFIELD
RESOLUTION NO. 1547
A RESOLUTION ABATING THE 2007 TAX LEVIES FOR THE GENERAL
OBLIGATION BONDS, SERIES 2004B, OF THE VILLAGE OF PLAINFIELD,
ILLINOIS.
PUBLISHED IN PAMPHLET FORM BY THE AUTHORITY OF THE PRESIDENT
AND BOARD OF TRUSTEES OF THE VILLAGE OF PLAINFIELD, WILL AND
KENDALL COUNTIES, ILLINOIS, THIS 7~~ DAY OF JANUARY, 2008.
RESOLUTION NO. 1547
RESOLUTION ABATING THE 2007 TAX LEVIES FOR THE GENERAL
OBLIGATION REFUNDING BONDS, SERIES 2004B, OF THE VILLAGE
OF PLAINFIELD, ILLINOIS.
WHEREAS, there was ordained by the President and Board of Trustees of Plainfield,
Illinois on November 15, 2004 Ordinance No. 2442 entitled "Ordinance Authorizing the
Issuance of Not to Exceed $5,800,000 General Obligation Refunding Bonds, Series 2004A, and
Not to Exceed $4,200,000 General Obligation Refunding Bonds, Series 2004B, of the Village of
Plainfield, Illinois"; and
WHEREAS, the Village Treasurer has certified to the Board of Trustees that there are
sufficient funds on hand to meet the requirements of the 2004B Debt Service Fund described in
Section 1S of Ordinance No. 2442 to pay the principal of and interest on the 2004B Bonds
authorized by said Ordinance as the same becomes due during the period for which the 2007 tax
levy was made; and
WHEREAS, it is in the best interest of the Village of Plainfield that the taxes levied for tax
levy year 2007 under said Ordinance No. 2442 be abated.
NOW, THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE
VILLAGE OF PLAINFIELD, WILL COUNTY, ILLINOIS, AS FOLLOWS:
Section 1. That the preamble hereto is herewith reinstated as though fully reprinted.
Section 2. That the levy set forth in Section 12(B) of Ordinance No. 2442 as partially
abated by that certain Certificate of Abatement dated December 6, 2004 in the amount of
$349,000.00 for the 2004B Bonds is herewith abated.
Section 3. That the Enterprise Revenues described in Section 10 of Ordinance No.
2442 is sufficient to pay the principal and interest on the 2004B Bonds when due during the
period for which the taxes are abated hereunder and is herewith pledged to said payments of
principal and interest in compliance with Section 12(G) of Ordinance Na. 2442, as it applies to
the 2004B Debt Service Account.
Section 4. That immediately upon this Resolution becoming effective, a copy thereof
certified by the Village Clerk, which certificate shall recite that this Resolution has been duly
adopted, shall be filed with the County Clerks of Will and Kendall Counties, Illinois, who are
hereby directed to abate said taxes for the 2007 tax levy year and not to extend the same for
collection.
Section S. The Village Clerk is hereby authorized and directed to publish this
Resolution in pamphlet farm and to file copies thereof for public inspection in her office.
This Resolution shall become effective in the manner provided by law.
ADOPTED this 7`k' day of January, 2008 by a roll call vote as follows:
AYI~S: Manning, Racich, Dement, Fay, Lamb
NAYS: None
ABSENT: Vaupel
Approved: January '~, 2008
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Village Clerk
Attest:
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Village Clerk - _
(Seal)
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CERTII; ICATE REGARDING THE SUFFICIENCY OF FUNDS AVAILABLE TO PAY THE
PRINCIPAL AND INTEREST WHEN DUE ON THE GENERAL OBLIGATION
REFUNDING BONDS, SERIES 2OO4B, OF THE VILLAGE OF PLAINFIELD, ILLINOIS.
I, KAREN IVLOW, the duly appointed and acting Village Treasurer of the Village of
Plainfield, Illinois, do herewith certify as follows:
I. That I am acquainted with the terms and provisions of Ordinance No. 2442
adopted by the President and Board of Trustees of the Village of Plainfield on November 15,
2004 and that I have knowledge of the financial records of the Village.
2. That the assets in the 20048 Debt Service Fund created by said Ordinance, are
available for the payment of debt service on the 20048 Bonds authorized by said Ordinance
according to the ratio established by Section 10 of Ordinance No. 2442.
3. That the assets in the 20048 Debt Service Fund created by said Ordinance contain
sufficient assets to pay debt service an the 20048 Bonds when due through and including
December 31, 2008.
IN WI'T'NESS WHEREOF, I have hereunto set my hand this 7th day of January, 2008.
Village T easurer
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