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HomeMy Public PortalAboutResolution 1476 VILLAGE OF PLAINFIELD RESOLUTION NO. 147b ABATING THE 2dp5 TAX LEVIES FOR THE GENERAL OBLIGATION BONDS, SERIES 1999B, OF THE VILLAGE OF PLAINFIELD, ILLINOIS. PUBLISHED IN PAMPHLET FORM BY THE AU'T'HORITY OF THE PRESIDENT AND BOARD OF TRUS'T'EES OF THE VILLAGI; OF PLAINFIFI.,D, WII,I, COUNTY, 1LLINOIS, ON THIS 31 DAY OF JANUARY, 2000. RESOLUTION NO. 1476 RESOLUTION ABATING THE 2005 TAX LEVIES FOR THE GENERAL OBLIGATION BONDS, SERIES 19998, OF THE VILLAGI!~ OF PLAINFIELD, ILLINOIS. WHEREAS, there was ordained by the President and Board of Trustees of Plainfield, Illinois an November 15, 1999 Ordinance No. 1895 entitled "Supplemental Ordinance Authorizing the Issuance af` $1,420,000 General Obligation Bonds, Series 1999A, and $5,600,000 General Obligation Bands, Series 1999B, of the Village of Plainfield, Illinais"; anal 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 1.999B Account of the 1999 Debt Service Fund described in Section 18 of Ordinance No. 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 2005 tax levy was made; and WHEREAS, it is in the best interest of the Village of Plainfield that the taxes levied far tax levy year 2005 under said Ordinance No. 1895 be abated. NOW, TttERF,FORE, 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. 1989 for the 2005 tax levy year as reduced in the Certificate of Partial Reduction of "faxes to the amount of $258,150.00 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 1999.8 Account 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, lllinois, who are hereby directed to abate said taxes f`or 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 by law. ADOPTED this 23rd day of January, 2006 by a roll call vote as follows: AYES: Dement, Fay, Lamb, Manning, Collins, Racich. NAYS: 0 Approved 23. 200h Village Clerk Attest: Village Clerk ~ - - (Se~l) -2- CERTIFICATE REGARDING THE SUFFICIENCY OF FUNDS AVAILABLE TO PAY THE PRINCIPAL AND INTEREST WHEN DUE ON THE GENERAL OBLIGATION BONDS, St~RiES 19998, 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 Na. 1895 adopted by the President and Board of Trustees of the Village of Plainfield on November 15, 1.999 and that I have knowledge of the financial records of the Village. 2. That the assets in the Series 19998 Account of the 1999 Debt Service Fund created by said Ordinance, are available for the payment of debt service on the 19998 Bonds authorized by said Ordinance according to the ratio established by Section 10 of Ordinance No. 1895. 3. That the assets in the Series 19998 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, 2006. IN WTTNESS WHEREOF, I have hereunto set my hand this ~_ day of 2006. Village reasurer -3-