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HomeMy Public PortalAboutResolution 1479 VILLAGE OF PLAINFIELD RESOLUTION NO. 1479 ABATING THE 2005 TAX LEVIES FOR THE GENERAL OBLIGATLON BONDS, SERIES 20038, OF THE VILLAGE OF PLAINFIELD, ILLINOIS. PLJSLISHED IN PAMPHLET FORM BY THE ALJTHORI'fY OF THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILL,AC7E OF PLAINFIELD, WILL COUNTY, ILLINOIS, ON THIS 3I DAY OF JANLJARY, 2006. RESOLUTION NO. 1479 RESOLUTION ABATING THF, 2005 TAX LEVIES FOR THE GENERAL OBLIGATION BONDS, SERIES 20038, OF THE VILLAGE OF PLAINFIF.LD, 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 (7bligation 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 2003A Bonds authorized by said. Ordinance as the same becomes due during the period. for which the 2005 tax levy was made; and WHEREAS, it is in the best interest of the Village of Plainfield. that the taxes levied tier tax levy year 2005 under said Ordinance No. 2375 be abated. NOW, THEREFORE, BF I1' RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF PLAINFIF..LD, WILL COUNT"Y, 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 $476,962.50 for the 2003B Bonds is herewith abated. Section 3. 'I"hat the Revenue Source described in Section 8 of Ordinance No. 2375 is sufficient to pay the principal and interest on the 20038 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 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 2005 tax levy year and. not to extend the same for collection. Section S. The Village Clerk is hereby authorized. and directed to publish t1.1is Resolution in pamphlet form anal to file copies thereof for public inspection. in her office. This Resolution shall become effective in the manner provided by law. ADOPTED th1S 2~`a day of .lanuary, 2006 by a roll call vote as follows: AYES: Dement, Fay, Lamb, Manni~~g, Collins, Racich. NAYS: 0 illage Clerk Attest: ~ - V' la~;e Clerk _ ~ ~- _ (deal) . -2- Approved: January 23, 200b CERTIFICATE REGARDING THE SUFFICIENCY OF FUNDS AVAILABLE TO PAY THE PRINCIPAL AND INTEREST WHEN DUE ON THE GENERAL OBLIGATION BONDS, SERIES 20O3B, OF THE VILLAGE OF PLAINFIELU, ILLINOIS. I, KAREN IVLOW, the duly appointed and acting Village Treasurer of the Village of Plainfield, lllinois, do herewith certify as follows: 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 payment of debt service on the 2003A Bonds authorized by said Ordinance according to the ratio established by Section 8 of Ordinance No. 2375. 3. That the assets in the 20038 Debt Service Fund created by said Ordinance contain sufficient assets to pay debt service on the 2003B Bonds when due through and including December 31, 2006. IN WITNESS WHEREOF, I have hereunto set my hand this _ day of 2006. / :n Village reasure -3-