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File #: 2014-0680    Version: Name: G.O. Refunding Bonds, Series 2013A and 2013B Abatement - 2014 Levy - Ordinance
Type: ORDINANCE Status: PASSED
File created: 11/12/2014 In control: Board of Trustees
On agenda: 12/1/2014 Final action: 12/1/2014
Title: AN ORDINANCE ABATING TAXES HERETOFORE LEVIED FOR THE YEAR 2014 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.
Attachments: 1. Ordinance
Title
AN ORDINANCE ABATING TAXES HERETOFORE LEVIED FOR THE YEAR 2014 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.

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WHEREAS, the President and Board of Trustees of the Village of Orland Park, Cook and Will Counties, Illinois (the “Village”), by Ordinance No. 4674 adopted on the 19th day of September, 2011, as supplemented by a Bond Order and Notification of Sale, dated April 15, 2013 (together, the “Ordinance”), authorized the issuance of $18,000,000 Taxable General Obligation Refunding Bonds, Series 2013A (the “Series 2013A Bonds”), and $2,000,000 Taxable General Obligation Refunding Bonds, Series 2013B (the “Series 2013B Bonds” and together with the Series 2013A Bonds, the “Bonds”); and

WHEREAS, the 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 26th day of April 2013; and

WHEREAS, the Ordinance did provide for the levy of a direct annual tax upon all taxable property within the Village in and for each of the years 2012 to 2021 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 2014.

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 within t...

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