HomeMy Public PortalAboutResolution 1525VILLAGE OF PLAINFIELD
RESOLUTION NO. 1525
A RESOLUTION ABATING THE 2006 TAX LEVIES FOR THE GENERAL
OBLIGATION BONDS SERIES 200SA, 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 22ND DAY OF JANUARY, 2007.
RESOLUTION NO. 1525
RESOLUTION ABATING THE 2006 TAX LEVIES FOR THE GENERAL
OBLIGATION REFUNDING BONDS, SERIES 2005A, OF THE VILLAGE
OF PLAINFIELD, ILLINOIS.
WHEREAS, there was ordained by the President and Board of Trustees of Plainfield,
Illinois on May 16, 2005 Ordinance No. 2482 entitled "Ordinance Authorizing the Issuance of
General Obligation Bonds, Series 2005A and General Obligation Refunding Bonds, Series
2005B, 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 2005A Debt Service Fund described in
Section 18 of Ordinance No. 2482 to pay the principal of and interest on the 2005A Bonds
authorized by said Ordinance as the same becomes due during the period for which the 2006 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 2006 under said Ordinance No. 2482 be abated.
NOW, THEREFORE, BE IT RESOLVED BX 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 14(A) of Ordinance Na. 2482 for the
2006 Tax Levy Year in the amount of $883,83'7.50 for the 2005A Bonds is herewith abated.
Section 3. That the Series 2005A Revenue Source is 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 2005A Bonds in
compliance with Section 14(E) of Ordinance No. 2482, as it applies to the 200SA 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 2006 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 manner provided by law.
ADOPTED this 22°d day of January, 2007 by a roll call vote as follows:
V
AYES: Manning, Collins, Racich, Dement, Fay, Lamb
NAYS: 0
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Village Clerk
v .January 22, 2007 Attest: -~. ~- _
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;President 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
REFUNDING BONDS, SERIES 2005A, 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. 2482
adopted by the President and Board of Trustees of the Village of Plainfield on May 16, 2005 and
that I have knowledge of the financial records of the Village.
2. That the assets in the 2005A Debt Service Fund created by said Ordinance, are
available for the payment of debt service on the 2005A Bonds authorized by said Ordinance
according to the ratio established by Section 10 of Ordinance No. 24$2.
3. That the assets in the 2005A Debt Service Fund created by said Ordinance contain
sufficient assets to pay debt service on the Bonds when due through and including December 31,
2007.
IN WITNESS WHEREOF, I have hereunto set my hand this 31 day of January, 2007.
V illag Treasurer
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