Title
AN ORDINANCE ABATING TAXES LEVIED FOR THE YEAR 2011 BY AN ORDINANCE PROVIDING FOR THE ISSUANCE OF $18,500,000 GENERAL OBLIGATION BONDS, SERIES 2007, 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, BEING ORDINANCE NO. 4218 ADOPTED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF ORLAND PARK, ILLINOIS ON THE 5th DAY OF FEBRUARY, 2007.
Body
WHEREAS, the President and Board of Trustees of the Village of Orland Park, Cook and Will Counties, Illinois (the “Village”), on the 5th day of February, 2007 did adopt an Ordinance being Ordinance No. 4218, authorizing the issuance of $18,500,000 General Obligation Bonds, Series 2007 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 20th day of February, 2007; 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 2007 to 2026 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 2011.
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 President and Board of Trustees of the Village of Orland Park, Cook and Will Counties, Illinois, has provided for the levy of a direct annual tax upon all taxable property wit...
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