HomeMy Public PortalAboutResolution 1442.+
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RESOLUTION NO. /~~~
RESOLUTION ABATING THE 2004 TAX LEVIES FOR THE GENERAL REFUNDING
OBLIGATION BONDS, SERIES 2003B, OF THE VILLAGE OF PLAINFIELD,
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 Obligation 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 in Revenue to meet the requirements of the Debt Service Fund described
in Section 1.3 of Ordinance No. 2375 to pay the principal of and interest on the 2003B Series
bonds authorized by said Ordinance (s) as the same become due during the period for which the
2004 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 2004 under said Ordinance No. 2375 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 Ordinance No. 2375 Section 10 for the
2004 Tax Levy Year in the amount of $482,162.50 for series 2003B Bonds is herewith abated.
Section 3: That operating revenue of the Village sufficient to pay the principal
and interest on the Bonds when due during the period for which the taxes are abated hereunder
(through January 1, 2005) are herewith pledged to said payments of principal and interest and the
Debt Service Funds in compliance with Ordinance No. 2375 Section 1.3, as it applies to Series
2003B 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 Wi11 and Kendall Counties, Illinois, who
are hereby directed to abate said taxes for the 2004 tax Levy Year and not to extend the same for
collection.
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Sect-on 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 became effective in the manner provided bylaw.
ADOPTED this 3rd day of Janua~~r11y, 2005 by a roll call vote as follows:
AYES: ~ NAYS: U
LLAGE CLE _
APPROVED:1/03/05 ATTEST: ~~
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VILLAGE P SIDENT V AGE CLERK
(SEAL)