Title
AN ORDINANCE ABATING TAXES LEVIED FOR THE YEAR 2015 FOR THE PAYMENT OF PRINCIPAL AND INTEREST ON THE GENERAL OBLIGATION REFUNDING BONDS, SERIES 2013C, OF THE VILLAGE OF ORLAND PARK, COOK AND WILL COUNTIES, ILLINOIS.
Body
WHEREAS, the President and Board of Trustees of the Village of Orland Park, Cook and Will Counties, Illinois (the “Village”), on the 15th day of April, 2013, did adopt Ordinance No. 4813, authorizing the issuance of $9,430,000 General Obligation Refunding Bonds, Series 2013C, of the 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 (the “County Clerks”) on the 26th day of April, 2013, and the 25th day of April, 2013, respectively ; 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 2013 to 2025 inclusive, in an amount sufficient to pay the principal of and interest on the Bonds when due; and
WHEREAS, the President and Board of Trustees of the Village hereby find and determine that it is advisable and necessary to provide for abatement of a portion of the tax heretofore levied for the year 2015.
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, have provided for the levy of a direct annual tax upon all taxable property within the Village in and for each for each of the years 2013 to 2025, inclusive, in an amount sufficient to provide the funds to pay when due the principal of and interest on the Bonds , heretofore issued by the Village, pursuant to authority contained in the Ordinanc...
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