HomeMy Public PortalAboutResolution 1353~ r
VILLAGE OF PLAINFIELD
RESOLUTION NO. 1.353
ABATING THE 2002 TAX LEVIES FOR THE GENERAL REFUNDING
OBLIGATION BONDS, SERIES 2000,
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 5 3
RESOLUTION ABATING THE 2002 TAX LEVIES FOR THE GENERAL REFUNDING
OBLIGATION BONDS, SERIES L999B, OF THE VILLAGE OF PLAINFIELD,
1LLINOIS.
WHEREAS, there was ordained by the President anal Board of Trustees of Plainfield,
Illinois on. November 15, 1999 Ordinance No. 1895 entitled "Ordinance Authorizing the Issuance
of $1,420,000 General Obligation Bonds, Series 1999A and $5,600,000 General Obligation
Bonds, Series 1999B, 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 18 of Ordinance No. 1895 to pay the principal of and interest on the
1999B 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. 1895 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. 1895 Section 12 (B) for
the 2002 Tax Levy Year in the amount of $457,987.50 for series 1999B 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.
1895 Section 18, as it applies to Series 1999B 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 Wi11 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 S: 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 16 day of December,. 2002 by a roll call vote as follows:
AYES: 6 NAYS: 0
0
VILLAGE CLERK I
APPROVED: De ember 16 , 2.0 0 2 ATTEST:
ILLAG LLAGE CLERK
(SEAL) _ -
CERTIFICATE REGARDING THE SUFFICIENCY OF
FUNDS AVAILABLE TO PAY THE PRINCIPAL
AND INTEREST WHEN DUE ON
THE GENERAL REFUNDING OBLIGATION BONDS, SERIES
1999B, OF THE VILLAGE OF PLAINFIELD.
I, KAREN NLOW, the duly appointed and acting Village Treasurer of the Village of
Plainfield, Illinois, do herewith certify as follows:
1. That 1 am acquainted with the terms and provisions of Ordinance No. 1895
adopted by the President and Board of Trustees of the Village of Plainfield on November 1 S,
1999 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
1999 Series B Bonds authorized by said Ordinance(s) according to the ratio established by
Section 1$ of Ordinance No. 1895.
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 AGE ASURER