HomeMy Public PortalAboutResolution 1545VILLAGE OF PLAINFIELD
RESOLUTION NO. 1545
A RESOLUTION ABATING THE 200 TAX LEVIES FOR THE GENERAL
OBLIGATION BONDS, SERIES 2p03B, 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 7TH DAY OF JANUARY, 2008.
RESOLUTION NO. 1545
RESOLUTION ABATING THE 2007 TAX LEVIES FOR THE GENERAL
OBLIGATION BONDS, SERIES 2003B, OF THE VILLAGE OF
PLAINFIELD, ILLINOIS.
WHEREAS, there was ordained by the President and Board of Trustees of Plainfield,
Illinois on December 1, 2003 Ordinance No. 2375 entitled "Supplemental Ordinance Providing
for the Issuance of $4,615,000 General Obligation Bonds, Series 2003B, 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 2003B Debt Service Fund described in
Section 13 of Ordinance No. 2375 to pay the principal of and interest on the 2003B Bonds
authorized by said Ordinance as the same becomes due during the period far 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. 2375 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 10(A) of Ordinance No. 2375 as abated
by that certain Certificate of Abatement dated December 22, 2003 to the amount of $600.000.00
for the 2003B Bonds is herewith abated.
Section 3. That the Revenue Source described in Section 8 of Ordinance No. 2375 is
sufficient to pay the principal and interest on the 2003B Bands 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 10(E) of Ordinance No. 2375, as it applies to the 2003B 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 5. 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 711i day of January, 2008 by a roll call vote as follows:
AYES: Manning, Racich, Dement, Fay, Lamb
NAYS: None
ABSENT: Vaupel
Village Clerk
Attest:
Village Clerk
(Seal)
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CERTIFICATE REGARDING THE SUFFICIENCY OF FUNDS AVAILABLE TO PAY THE
PRINCIPAL AND INTEREST WHEN DUE ON THE GENERAL OBLIGATION BONDS,
SERIES 2003B, 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 fallaws:
1. That I am acquainted with the terms and provisions of Ordinance No. 2375
adopted by the President and Board of Trustees of the Village of Plainfield on December 1, 2003
and that I have knowledge of the financial records of the Village.
2. That the assets in the 2003B Debt Service Fund created by said Ordinance, are
available for the payrr~ent of debt service on the 2003B Bonds authorized by said Ordinance
according to the ratio established by Section 8 of Ordinance No. 2375.
3. That the assets in the 2003B Debt Service Fund created by said Ordinance contain
sufficient assets to pay debt service an the 2003B Bonds when due through and including
Decerr~ber 31, 2008.
IN WITNESS WHEREOF, I have hereunto set my hand this 7th day of January, 2008.
V illag Treasurer
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