HomeMy Public PortalAboutResolution 1523
VILLAGE OF PLAINFIELD
RESOLUTION NO. 1523
A RESOLUTION ABATING THE 2006 TAX LEVIES FOR THE GENERAL
OBLIGATION BONDS SERIE5 2004A, 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 22Np DAY OF 7ANUARY, 2007.
RESOLUTION NO. 1523
RESOLUTION ABATING THE 2006 TAX LEVIES FOR THE GENERAL
OBLIGATION REFUNDING BONDS, SERIES 2004A, 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 2004A Debt Service Fund described in
Section 15 of Ordinance No. 2442 to pay the principal of and interest on the 2004A 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. 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(A) of Ordinance No. 2442 as abated
by that certain Certificate of Abatement dated December 6, 2004 in the amount of $261,322.50
far the 2004A Bonds is herewith abated.
Section 3. That the Revenue Source described in Section 9 of Ordinance Na. 2442 is
sufficient to pay the principal and interest an the 2004A 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 No. 2442, as it applies to the 2004A
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 2006 tax levy year and not to extend the same far
collection.
Section S. 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.
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ADOPTED this 22°d day of January, 2007 by a roll call vote as follows:
AYES: Manning, Collins, Racich, Dement, Fay, Larnb
NAYS: 0
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Village Clerk
Approved: uary 22, 2007 Attest:
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Vil 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 2004A, 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. 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 2004A Debt Service Fund created by said Ordinance, are
available far the payment of debt service on the 2004A Bonds authorized by said Ordinance
according to the ratio established by Section 9 of Ordinance No. 2442.
3. That the assets in the 2004A Debt Service Fund created by said Ordinance contain
sufficient assets to pay debt service on the 2004A 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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