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Home My Public Portal AboutResolution 1189~ ~ _ .... VILLAGE OF PLAINFIELD RESOLUTION NO. 1189 ABATING THE 1997 TAX LEVIES FOR THE GENERAL REFUNDING OBLIGATION BONDS, SERIES 1993B, OF THE VILLAGE OF PLAINFIELD, ILLINOIS ADOPTED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF PLAINFIELD THIS 16TH DAY OF MARCH, 1998 PUBLISHED IN PAMPHLET FORM BY THE AUTHORITY OF THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF PLAINFIELD, WILL COUNTY, ILLINOIS THIS 16TH DAY OF MARCH, 199$. RESOLUTION NO. ~~ g __ RESOLUTION ABATING THE 1997 TAX LEVIES FOR THE GENERAL REFUNDING OBLIGATION BONDS, SERIES 1993B, OF THE VILLAGE OF PLAIlVFIELD, ILLINOIS, WHEREAS, there was ordained by the President and Board of Trustees of Plainfield, Illinois on March 29, 1993 Ordinance No. 1503 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, 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 17 of Ordinance No. 1503 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 1997 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 1997 under said Ordinance No. 1503 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 1997 Tax Levy Year in the amount of $199,299.50 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 on the Bonds when due during the period for which the taxes are abated hereunder (through January 1, 1998) are herewith pledge to said payments of principle 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 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 1997 tax Levy Year and not to extend the same far collection. Section 5: The Village Clerk is hereby authorized and directed to publish this Resolution in pamphlet farm and to file copies thereof for public inspection in her office. This Ordinance shall become effective in the manner provided by law. ADOPTED this 16 AYES: Smolich Darnell Dement O'Connell Rathbun Stalzer day of March, 1998 by a roll call vote as follows: APPROVED: Marsh 16~ 1998 VIL AGE PRESIDENT (SEAL) NAYS VIL AGE CLERK ATTEST: ILLAGE CLE STATE OF ILLINOIS ) SS. COUNTY OF WILL ) X, SUSAN JANZK, the duly appointed Vi1J.age Clerk of the Village of Plainfield, Will County, Sllinois, do hezeby certify that the^-above and fozegoing is a true and !C CSD l!J ~/O~ correct copy of No. /~ which was duly passed by the President and Board of Trustees of said Village and approved by the President. and the Board of Trustees on the ~_day of V~ 199 and the original of said Qrdinance is now or. =i1e in my of~ice_ IN WITNESS WhEREOF, I nave hereunto set my hand as Village Clerk and attached the seal of said Village this ~~ day of ~~~ 199 . ~fL.~ SUSAN JANZK VILLAGE CLERK SEAL CERTIFICATE REGARDING THE SUFFICIENCY OF FUNDS AVAILABLE TO PAY THE PRINCIPAL AND INTEREST WHEN DUE ON THE GENERAL REFUNDING OBLIGATION BONDS, SERIES 19938, 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: 1. That I am acquainted with the terms and provisions of Ordinance No. 1503 adapted 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 its 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 16 day of March 199$. VIL AGE T AS STATE OF ILLINOIS 1 ) ss. COUNTY OF WILL ) I, JAN GOULD, County Clerk of Will County, Illinois, do hereby certify that on the day of 1998, there was filed in my office, Village of Plainfield. 1) Certified copy of Resolution abating $199,299.50 from 1997 Levy for the 1993B Series General Obligation Bonds. Given under my hand and the Seal of Will County, Illinois, this day of 1998. JAN GOULD County Clerk of Will County, Illinois Richard A. Rock PRE51pENT TRUSTEES Jay D. Darnell VILLAGE OF PLAINFIELD Kathy O'Connell WILL COUNTY'S OLDEST COMMUNITY Steven L. Rathbun Raymond $molich Kurt Stalzer Susan Janik VILLAGE CLERK March 17, 1998 Ms. Jan Gould Will County Clerk 302 N. Chicago Street Joliet, IL 60432 Dear Jan, Enclosed please find certified copy of Resolution No. 1189 abating the 1997 Tax Levies for the General Refunding Obligation Bonds, Series 1993B, of the Village of Plainfield, Illinois which was adopted on March 1 d, 1997 for filing. Please send us a Certificate of Filing and you are hereby directed to abate said taxes for the 1997 Tax Levy Year and not to extend the same for collection. If you have any questions, please do not hesitate to contact me. Thank you for your assistance in this matter. Sincerely, JSusan Janik, `'i~ Village Clerk 23145 W. LINCOLN HIGHWAY • PLAINFIf=Lb, ILLINOIS 60544 • (815) 436-7093 • Fax (815) 436-1950 VILLAGE OF PLAINFIELD WILL COUNTY'S OLDEST COMMUNITY Richard A. Rock PRESIDENT TRUSTEES Jay b. Darnell Jeffrey Dement Kathy O'Connell Steven L. Rathbun Raymond Smollch Kurt Stalzer Susan Janik VILLAQE CLERK TO: RICHARD A. ROCK, VILLAGE PRESIDENT BOARD OF TRUSTEES FROM: CHRIS MINICK, FINANCE DIRECTOR DATE: March 16, 1998 RE: ABATEMENT OF ALTERNATE REVENUE BONDS BACKGROUND: Since the issuance of the 1989 General Obligation "alternate revenue" Bonds, 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 1998-99 Water/Sewer Budget. Therefore, the attached Resolution will abate all of the 19936 Bond issue which totals $199,299.50. Upon adoption of the attached Resolution there will be no property taxes levy for the 19936 Bond issue. Staff recommends the adoption of the Resolution entitled '"Resolution abating the 1997 Tax Levies far the General Refunding Obligation Bonds,. Series 19936, of the Village of Plainfield, Illinois". 23145 W. LINCOLN HIGHWAY •PLAINFIELD, ILLINOIS 60544 • (815) 436-7093 • i"ax (815) 436-1950 STATE OF ILLINOIS 1 1 ss. COUNTY OF WILL ) I, JOAN GOULD, County Clerk of Will County, Illinois, do hereby certify that on the (day of 1998, there was filed in my office, Village of Plainfield. 1) Certified copy of F~esolution abating 5199,299.50 from 1997 Levy far the 19938 Series General Obligation Bonds ~~ l Q93 - .~ l ss ue. Given under my hand and the Seal of Will County, Illinois, this ~~ day of 1998. JAN GOULD County Clerk of Will County, Illinois