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HomeMy Public PortalAboutResolution 1482 VILLAGE OF PLAINFIELD RESOLUTION NO. 1482 ABATING THE 2005 TAX LEVIES FOR THE GENERAL OBLIGATION BONDS, SERIES 2005A, OF THE VILLAGE OF PLAINFIELD, ILLINOIS. PUBLISHED IN PAMPHLET FORM BY THE AUTHORITY OF THE PRESIDENT AND BOARD OF TRUSTEES OF Ti-IE VILLAGE, OF PLAINFIELD, WILL COUN"i'Y, ILLINOIS, ON THIS 31 DAY OF JANl.7ARY, 2006. RESOLUTION NO. 1482 RESOLUTION ABATING THE 2005 TAX LEVIES FOIZ THE GENERAL OBLIGATION 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 1.6, 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 't'rustees 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 2005 tax levy was made; and WtIERFAS, it is in the best interest of the Village of Plainfield that the taxes levied for tax levy year 2005 under said Ordinance No. 2482 be abated.. NOW, THEREFOKF., BE IT RESOLVED BY THE PKESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF PLAiNFiELD, WILL COUNTX, 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 No. 2482 for the 2005 tax levy year in the amount of $877,137.50 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(1/) of Ordinance No. 2482, as it applies to the 2005A 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 tiled with the County Clerks of Will and Kendall Counties, Illinois, who are hereby directed to abate said taxes for the 2005 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 bylaw. ADOPTED t111S 23rd Clay of .lanuary, 2006 by a roll call vote as follows: AYES: Dement, Fay, Lamb, Manning, Collins, Racich. Navs: 0 ilage Clerk Attest: V 1 age Clerk (Seal) -2- CERTIFICATE REGARDING THE SUFFICIENCY OF FUNDS AVAILABLE TO PAY THE PRINCIPAL AND INTEREST WHEN DUE ON THE GENERAL OBLIGATION BONDS, SERIES 2005A, OF THE VILLAGE OF PLAINFIELD, ILLINOIS. I, KAtzEN 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 l 0 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, 2006. 11v Wi'rtv~ss WHEREOF, I have hereunto set my hand this m day of 2006. ~'' ~... Village reasure -3- COUNTY CLERK'S RECEIPT RECEIPT IS HEREBY ACKNOWLEDGED this ~ day of 2005, of a duplicate original of the "SECOND C~ KATE OF ARTIAL DUCTION OF TAXES HERETOFORE LEVIED FOR THE PAYMENT OF GENERAL OBLIGATION BONDS, SERIES 2000, OF THE VILLAGE OF PLAINFIELD, ILLINOIS", manually executed by the Village Treasurer of the Village of Plainfield, Illinois, and it is hereby certified that the same has been deposited in the official files and records of my office anal that the taxes heretofore levied for the years 2005 to 2018, inclusive, for the payment of the Called Series 2000 Bonds of the Village, as described in said Certif cate, will be reduced and abated as provided in said Certificate. IN WITNESS WHEREOF, I hereunto affix my afficial signature and the seal of Kendall County, this j,~ day of L , 2005. ount Clerk of the County o~endall, Il ' ojrs za~~ -4- Doc N:CH102 (265502-00011) 6043]906v1;12/27/2005/Time:17:53