Title
AN ORDINANCE ABATING TAXES LEVIED FOR THE YEAR 2013 BY AN ORDINANCE PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION REFUNDING BONDS, SERIES 2009 (“THE BONDS”), OF THE VILLAGE OF ORLAND PARK, COOK AND WILL COUNTIES, ILINOIS AND PROVIDING FOR THE LEVY AND COLLECTION OF A DIRECT ANNUAL TAX FOR THE PAYMENT OF THE PRINCIPAL AND INTEREST ON SAID BONDS, ALL FOR THE PURPOSE OF ADVANCE REFUNDING A PORTION OF THE VILLAGE’S GENERAL OBLIGATION BONDS, SERIES 2001 (“THE PRIOR BONDS”) AND TO PAY THE COSTS OF ISSING THE BONDS, BEING ORDINANCE NO. 4482 ADOPTED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF ORLAND PARK, ILLINOIS ON THE 4th DAY OF MAY, 2009.
Body
WHEREAS, the President and Board of Trustees of the Village of Orland Park, Cook and Will Counties, Illinois (the “Village”), on the 4th day of May, 2009 did adopt an Ordinance being Ordinance No. 4482, authorizing the issuance of $7,785,000 General Obligation Refunding Bonds, Series 2009 of said Village; and
WHEREAS, said Ordinance was in full force and effect forthwith upon its passage, approval and publication, and thereafter a certified copy thereof was duly filed in the Office of the County Clerk of the Counties of Cook and Will on the 8th day of October, 2009; and
WHEREAS, said Ordinance did authorize the issuance of General Obligation Bonds, and did provide for the levy of a direct annual tax upon all taxable property within the Village in and for each of the years 2009 to 2020 inclusive, in an amount sufficient to pay the principal of and interest on said bonds when due; and
WHEREAS, the President and Board of Trustees of the Village hereby finds and determines that it is advisable and necessary to provide for abatement of a portion of the tax heretofore levied for the year 2013.
NOW, THEREFORE, BE IT ORDAINED by the President and Board of Trustees of the Village of Orland Park, Cook and Will Counties, Illinois, as follows:
SECTION I
That it shall be and it is found and determined that the...
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