HomeMy Public PortalAboutResolution 1542{ ~
VILLAGE OF PLAINFIELD
RESOLUTION NO. 1542
A RESOLUTION ABATING THE 2007 TAX LEVIES FOR THE GENERAL
OBLIGATION BONDS, SERIES 1999B, 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, 200$.
RESOLUTION NO. 1542
RESOLUTION ABATING THE 2007 TAX LEVIES FOR THE GENERAL
OBLIGATION BONDS, SERIES 1999B, OF THE VILLAGE OF
PLAINFIELD, ILLINOIS.
WHEtZEAS, there was ordained by the President and Board of Trustees of Plainfield,
Illinois on November 15, 1999 Ordinance No. 1895 entitled "Supplemental Ordinance
Authorizing the Issuance of $1,420,OOq General Obligation Bonds, Series 1999A, and
$5,600,000 General Obligation Bonds, Series 1999B, 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 Series 1999B Account of the 1999 Debt
Service Fund described in Section 18 of Ordinance Na. 1895 to pay the principal of and interest
on the 1999B 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 V illage of Plainfield that the taxes levied for tax
levy year 2007 under said Ordinance No. 1895 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
herein.
Section 2. That the levy set forth in Section 12(B) of Ordinance No. 1895 for the
2007 tax levy year as reduced in the Certificate of Partial Reduction of Taxes to the amount of
$453,162.50 for the 1999B Bonds is herewith abated.
Section 3. That the Enterprise Revenues are sufficient to pay the principal and
interest on the Bonds when due during the period for which the taxes are abated hereunder and is
herewith pledged to said payments of principal and interest on the 1999B Bonds in compliance
with Section 12(E) of Ordinance No. 1895, as it applies to the Series 1999B Accaunt of the 1999
Debt Service Fund.
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 form and to file copies thereof for public inspection in her office.
This Resolution shall become effective in the mariner provided by law.
ADOPTED this 7`t' day of January, 2008 by a roll call vote as follows:
AYES: Manning, Racich, Dement, Fay, Lamb
NAYS: None
ABSENT: Vaupel
January 7, 2008
(J
Vi11Qae President
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 1999B, 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:
1. That I am acquainted with the terms and provisions of Ordinance No. 1895
adopted by the President and Board of Trustees of the Village of Plainfield on November 15,
1999 and that I have knowledge of the financial records of the Village.
2. That the assets in the Series 1999B Account of the 1999 Debt Service Fund
created by said Ordinance, are available for the payment of debt service on the 1999B Bonds
authorized by said Ordinance according to the ratio established by Section 10 of Ordinance Na.
1895.
3. That the assets in the Series 1999B Account of the 1999 Debt Service Fund
created by said Ordinance contain sufficient assets to pay debt service on the Bonds when due
through and including December 31, 2008.
IN WITNESS WxEREOF, I have hereunto set my hand this 7th day of January, 2008.
Village reasurer
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