HomeMy Public PortalAboutResolution 1159VILLAGE OF PLAINFIELD
RESOLUTION NO. 1159
ABATING THE 1996 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 17TH DAY OF MARCH, 1997
PUBLISHED IN PAMPHLET FORM BY THE AUTHORITY OF THE PRESIDENT AND
BOARD OF TRUSTEES OF THE VILLAGE OF PLAINFIELD, WILL COUNTY,
ILLINOIS THIS 20TH DAY OF MARCH, 1997.
RESOLUTION NO. 11.5 9
RESOLUTION ABATING THE 1996 TAX LEVIES FOR THE GENERAL REFUNDING
OBLIGATION BONDS, SERIES 1993B, OF THE VILLAGE OF PLAINFIELD,
ILLINOIS.
WHEREAS, there was ordained by the President and Boazd of Trustees of Plainfield,
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, 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 1996 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 1996 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 1996 Tax Levy Year in the amount of$199,579.50 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, 1997) 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 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 1996 tax Levy Yeaz 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 Ordinance shall became effective in the manner provided by law.
ADOPTED this 17 day of March, 1997 by a roll call vote as follows:
AYES: Dement
Heimerdinger
Rock
Smolich
Stalzer
APPROVED: March 17 , 19 9 7
V LAGE PRESIDENT
NAYS: p
VILLAGE CLERK
ATTEST
CERTIFICATE REGARDING THE SUFFICIENCY OF
FUNDS AVAILABLE TO PAY THE PRINCIPAL
AND INTEREST WHEN DUE ON
THE GENERAL REFUNDING OBLIGATION BONDS, SERIES
1993B, OF THE VII,LAGE OF PLAINFIELD.
I, DALE W. GULLICKSEN, the duly appointed and acting Village Treasurer of the
Village of Plainfield, Illinois, do herewith certify as follows:
That T 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 Mazch 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), aze 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 sui~icient assets to pay debt service on the Bonds when due through and
including January 1, 1998.
IN WITNESS WHEREOF, I have hereunto set my hand this 17 th day of
.March , 1997.
~~~
VILLA E TREASURER
VILLAGE OF PLAINFIELD
WILL COUNTY'S OLDEST COMMUNITY
March 20, 1997
Ms. Jan Gould
WiU County Clerk
302 N. Chicago Street
Joliet, IL 60432
Dear Jan,
John E. Peterson
PRESIDENT
TRU5TEE5
Jeffrey Dement
Jack Weimerdinger
Lawrence Kelly
Michael Lambert
Joseph Ray
Richard Rock
Susan Janik
VILLAGE CLERK
Enclosed please find certified copy of Resolution No. 1159 abating the 1996 Tax Levies for the
General Refunding Obligation Bonds, Series 1993B, of the Village of Plainfield, Illinois which
was adopted on Mazch 17, 1997 for filing. Please send us a Certificate of Filing and you are
hereby directed to abate said taxes for the 1994 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 far your assistance in
this matter.
Sincerely,
~, _~~f
. Susan Janik, i
Village Clerk `f
1400 NORTH DIVISION STREET •PLAINFIELD, ILLINOIS 60544 • (815) 436-7093 • Fax (815) 436-1950
John E. Peterson
PRESIDENT
TO:
Susan Janik
w~uoE c~RK
FROM:
TRUSTEES
Jeffrey Dement
VILLAGE OF PLAINFIELD Jack Helmerdinger
Richard Rock
WILL COUNTY'S OLDEST COMMUNITY Raymond Smolich
Kurt Stelzer
JOHN E. PETERSON, VILLAGE PRESIDENT
BOARD OF TRUSTEES
PAT MCDONALD, VILLAGE ADMI1~lISTRATOR
DATE: March 5, 1997
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 principle and interest due. Said payment of
principle 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 1997-98 Water/Sewer Budget. However, this year is slightly
different due to the refinancing of the 1989 Bonds in March of 1993 there now exists one Bond
issue that requires abatement entitled General Refunding Obligation Bonds.
Therefore, the attached Resolution will abate all of the 1993B Bond issue which totals
$199,579.50. Upon adoption of the attached Resolution there will be no property taxes levy for
the 1993B Bond issue.
RECOMMENDATION:
Staff recommends the adoption of the Resolution entitled "Resolution abating the 1996 Tax
Levies for the General Refunding Obligation Bonds, Series 1993B, of the Village of Plainfield,
Illinois".
23145 W. LINCOLN HIGHWAY • PLAINFIELD, ILLINOIS fi0544 • (815) 436-7093 • Fax (815) 436-1950
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STATE OF ILLINOIS )
SS.
COUNTY OF WILL )
,/~
I, JAN COULD, County Clerk of Wi11 County, Illinois, do hereby certify that on the°~ `~'~ day of
1997, there was filed in my oi~tce, Village of Plainfield Certified copy of
Resolution/ ,59 abating $199,579.50 from 1996 Levy for the 1993E Series General Obligation
Bonds.
Given under my hand and the Seal of Will County, Illinois, this ~ day of / ~l ~~/l~,
1997.
JAN COULD
County Clerk of Will County, Illinois