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Home My Public Portal AboutResolution 1218,- ; VILLAGE OF PLATNFIELD RESOLUTION NO. 1218 ABATING THE 1998 TAX LEVIES FOR THE GENERAL REFUNDING OBLIGATION BONDS, SERIES 19938, OF THE VILLAGE OF FLATNFIELD, ILLINOIS ADOPTED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF PLAINFTELD THIS 1$TH DAY OF JANUARY, 1999 PUBLISHED IN PAMPHLET FORM flY THE AUTHORITY OF THE PRESIDENT AND HOARD OF TRUSTEES OF THE VILLAGE OF PLAINFIELD, WILL COUNTY, ILLINOIS THIS 25th DAY OF JANUARY, 1999. RESOLUTION NO. ,1218 RESOLUTION ABATING THE 1998 TAX LEVIES FOR THE GENERAL REFUNDING OBLIGATION BONDS, SERIES 19938, OF THE VILLAGE OF PLAINFIELD, ILLINOIS. WHEREAS, there was ordained by the President and Board of Trustees of Plainfiield, Illinois on March 29, 1993 Ordinance No. 1 S03 entitled "Ordinance Authorizing the Issuance of $1,909,000.00 General Obligation Refunding Bonds, Series 1993A, and $2,010,000.00 General Obligation Refunding Bonds, Series 1993B, ofthe 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 17 of Ordinance No. 1 S03 to pay the principal of and interest on the 1993B Series bonds authorized by said Ordinance (s) as the same become due during the period for which the 1998 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 1998 under said Ordinance No. 1 S03 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. 1503 Section 13 (B) for the 1998 Tax Levy Year in the amount of $203,650.00 for series 1993B 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 an the Bonds when due during the period for which the taxes are abated hereunder (through January 1, 1999) are herewith pledge to said payments of principal and interest and the Debt Service Funds in compliance with Ordinance No. 1503 Section 17, as it applies to Series 1993B Account. Section 4: That immediately upon this Resolutian 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 1998 tax Levy Year and not to extend the same for collection. ~ L• . 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 Ordinance shall become effective in the manner provided by law. ADOPTED this _day of January, 1999 by a roll call vote as follows: AYES:Smolich NAYS: 0 Darnell. Rathbun Dement Stalzer APPROVED: Januarv 18, 199.9 ILLAG SID NT ~ ,f -ate VILLAGE CLER ATTEST: V LAGS CLERK ~ ,, y~ ~ ~ ~, ~; \~~'/ ..r ~,~ ~ ._ ~ ~ ~~ ~ E ~., STATE OF ILLINOIS ) )SS. COUNTY OF WILL ) I, Susan Janik, duly appointed Village Clerk of the Village of Plainfield, Will County, Illinois, do hereby certify that the above and foregoing is true and correct copy of Resolution No. ~~~~ , A resolution abating the 1998 Tax Levies for the General Refunding Obligation Bonds, Series 1993B, of the ,Village of Plainfield, Illinois, adopted and approved at a meeting of the President and Board of Trustees held on January 18,1999; and the original Resolution is now on file in my office. IN WITNESS WHEREOF, I have hereunto set my hand as Village Clerk and attached the seal of said Village this ~_day of , 1999. SUSAN JANIK, ~~L,LAGE CLERK SEAL CERTIFICATE REGARDING TbIE SUFFICIENCY OF FUNDS AVAILABLE TO PAY THE PRINCIPAL AND INTEREST WHEN DUE ON THE GENERAL REFUNDING OBLIGATION BONDS, SERIES 1993B, OF THE VILLAGE OF PLAINFIELD. I, KAREN IVLOW, 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. 1503 adopted by the President and Board of Trustees of the Village of Plainfield on March 29, 1993 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 1993 Series B. Bonds authorized by said Ordinance(s) according to the ratio established by Section 17 of Ordinance No. 1503. 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, 1999. IN WITNESS WHEREOF, I have hereunto set my hand this day of (.._ Q~t,c.ca,ti~ , 1999. Z, VIL .AGE T EAU R Richard A. Rock F'RE3IDENT TRUSTEES Jay D. barnell VILLAGE OF PLAINFIELD Jeffrey Dement Kathy O'Connell WILL COUNTY'S OLDEST COMMUNITY Steven l.. Rathbun Raymond 5molich Kurt Stalzer Susan Janik VILLAGE CLERK TO: RICHARD A. ROCK, VILLAGE PRESIDE BOARD OF TRUSTEES FROM: CHRIS MINICK, FINANCE DIRECT DATE: January 8, 1999 RE: ABATEMENT OF ALTERNATE REVENiJE BONDS BACKGROUNll: Since the issuance of the 19$9 General Obligation "alternate revenue" Bands, the Village Board has abated the tax levy required to pay the annual principal and interest due. Said payment of principal and interest has been funded from the Revenues generated by the operation of the water and sewer fund. Again, this year, Staff is preparing to abate the taxes on said Bonds by means of including the debt expenses in the 1999-2000 Water/Sewer Budget. Therefore, the attached Resolution will abate all of the 1993B Bond issue which totals $203,650.00. Upon adoption of the attached Resolution there will be no property taxes levy far the 1993B Bond issue. RECOMMENDATION: Staff recommends the adoption of the Resolution entitled "Resolution abating the 1998 Tax Levies for the General Refunding Obligation Bonds, Series 1993B, of the Village of Plainfield, Illinois". 23145 W. LINCOLN HIGHWAY • PLAINFIELD, ILLINOIS 60544 • (815) 43fi-7093 • Fax (815) 436-1950 Richard A. Rock PRESIDENT Jay D. Darnell VILLAGE OF PLAINFIELD Kathy O'Cpnnell WILL COUNTY'S OLDEST COMMUNITY Steven L. Rathbun Raymond Smalich Kurt Stalzer Susan Janik VILLAGE CLERK January 25, 1999 Ms. Jan Gould Will County Clerk 302 N. Chicago Street Joliet, IL 60432 Dear Jan, Enclosed please find Resolution No. 1218 abating the 1998 tax levies for the General Refunding Obligation Bonds, Series 1993B, of the Village of Plainfield. Please file this Resolution and you are hereby directed to abate said taxes for the 1998 tax Levy Year and not to extend the same for collection. Very truly yours,....... e, , ~ ~~usan Janik, Village Clerk o.,' .._. ;:~ ~ .. . 23145 W. LINCOLN HIGHWAY • pLAINFIELD, ILLINOIS 60544 • ($15) 436-7093 • Fax (815) 436-1950 STATE OF ILLINOIS ) SS. COUNTY OF WILL ) ~~. I, JAN GOULD, County Clerk of Will County, Illinois, do hereby certify that on the day of ~!~--nJ ~t ~ R1/ , 1999, there was filed in my office, Village of Plainfield Certified copy of Resolution 1 Zi ~' abating $203,650.00 from 1998 Levy for the 1993B Series General Obligation Bonds. Given under my hand and the Seal of Will County, Illinois, this 2-7 day of ~~ a ~ ~, 1999. ~' r 1 JAN LD Cou y Clerk of Will County, Illinois