HomeMy Public PortalAboutResolution 1354
VILLAGE OF PLAINFIELD
RESOLUTION NO. 1354
ABATING THE 2002 TAX LEVIES FOR THE GENERAL REFUNDING
OBLIGATION BONDS, SERIES 1999b,
OF THE VILLAGE OF PLAINFIELD, ILLINOIS.
ADOPTED BY THE VILLAGE OF PLAINFIELD ON DECEMBER 16, 2002
PUBLISHED IN PAMPHLET FORM BY THE AUTHORITY OF THE PRESEINT
AND BOARD OF TRUSTEES OF THE VILLAGE OF PLAINFIELD, WILL
COUNTY, ILLINOIS, THIS 20TH DAY OF JANUARY, 2003.
RESOLUTION NO. __...13.54
RESOLUTION ABATING THE 2002 TAX LEVIES FOR THE GENERAL
OBLIGATION BONDS, SERIES 2000, OF THE VILLAGE OF PLAINFIELD,
ILLINOIS.
WHEREAS, there was ordained by the President and Board of Trustees of Plainfield,
Illinois on August 22, 2000 Ordinance No. 1989 entitled "Supplemental Ordinance Providing for
the Issuance of $18,000,000 General Obligation Bonds, Series 2000, 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 Enterprise Revenue to meet the requirements of the Debt Service
Fund described in Section 14 of Ordinance No. 1989 to pay the principal. of anal interest on the
2000 Series bonds authorized by said Ordinance (s) as the same become due during the period for
which the 2002 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 2002 under said Ordinance No. 1989 be abated.
NOW, THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE OF PLAINFIELD, WILL COUNTY, ILLINOIS, AS
FOLLOWS:
reprinted.
Section 1: That the preamble hereto is herewith reinstated as though fully
Section 2: That the levy set forth in Ordinance No. 1989 Section 11 for the
2002 Tax Levy Year in the amount of $1,492,337.50 for series 2000 Bonds is herewith abated.
Section 3: That operating revenue of the waterworks, and sewerage system 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, 2003) are herewith pledge to said
payments of principal and. interest and the Debt Service Funds in compliance with Ordinance No.
1989 Section 14, as it applies to Series 2000 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 Clerk of Will County, Illinois, who is hereby
directed to abate said taxes for the 2002 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 sha11 become effective in the manner provided by law.
ADOPTED this 1 ~ day of December, 2002 by a roll call vote as follows:
AYES: 6 NAYS: 0
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VILLAGE CLERK
APPROVED: 2 ATTEST:
V AGE IDE ILLAGE CLERK ' - ~ "
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(SEAL) -- - -
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CERTIFICATE REGARDING THE SUFFICIENCY OF
FUNDS AVAILABLE TO PAY THE PRINCIPAL
AND INTEREST WHEN DUE ON
THE GENERAL OBLIGATION BONDS, SERIES
2000, OF THE VILLAGE OF PLAINFIELD.
1, KAREN NLOW, the duly appointed and acting Village Treasurer of the Village of
Plainfield, Illinois, do herewith certify as follows:
That I am acquainted with the terms and provisions of Ordinance No. 1989
adopted by the President and Board of Trustees of the Village of Plainfield on August 22, 2000
and that I have knowledge of the financial records of the Village and it's Waterworks and
Sewerage System.
2. That the assets in the Debt Service Fund created by said Ordinance (s) and the
Enterprise Fund, being the total operating revenues of the Waterworks and Sewerage System of
the Village (the "Enterprise") (exclusive of the projected costs of operation and maintenance of
the Enterprise and. not including depreciation), are available for the payment of debt service on
2000 Series Bonds authorized by said Ordinance(s) according to the ratio established by Section
14 of Ordinance No. 1989.
3) That the assets in the Debt Service Fund and the Enterprise Fund created by said
Ordinance contain sufficient assets to pay debt service on the Bonds when due through and
including January 1, 2003.
IN WITNESS WHEREOF, I have hereunto set my hand this 16 day of
December .2002.
VIL GE TREAS R