Title
G.O. Refunding Bonds, Series 2013A and 2013B Abatement - 2016 Levy - Ordinance
History
During the FY2017 budget process, the Village Board approved a 2016 property tax levy abatement, in the amount of $383,375 for the GO Refunding Bonds, Series 2013A and in the amount of $683,438 for the GO Refunding Bonds, Series 2013B.
Financial Impact
The total abatement of $1,066,813 will be funded by a loan from the Village's Home Rule Sales Tax Fund to the Village's Debt Service Fund, Series 2013A&B.
Recommended Action/Motion
I move to pass Ordinance Number 5148, entitled: AN ORDINANCE ABATING TAXES HERETOFORE LEVIED FOR THE YEAR 2016 TO PAY DEBT SERVICE ON TAXABLE GENERAL OBLIGATION REFUNDING BONDS, SERIES 2013A AND TAXABLE GENERAL OBLIGATION REFUNDING BONDS, SERIES 2013B OF THE VILLAGE OF ORLAND PARK, COOK AND WILL COUNTIES, ILLINOIS.