Title
AN ORDINANCE ABATING TAXES LEVIED FOR THE YEAR 2023 BY AN ORDINANCE PROVIDING FOR THE ISSUANCE OF NOT TO EXCEED $12,100,000 GENERAL OBLIGATION BONDS, SERIES 2023, OF THE VILLAGE OF ORLAND PARK, COOK AND WILL COUNTIES, ILLINOIS, FOR THE PURPOSE OF FINANCING VARIOUS CAPITAL IMPROVEMENTS, PROVIDING FOR THE LEVY AND COLLECTION OF A DIRECT ANNUAL TAX SUFFICIENT FOR THE PAYMENT OF THE PRINCIPAL OF AND INTEREST ON SAID BONDS AND PROVIDING FOR THE SALE OF SAID BONDS TO THE PURCHASER THEREOF., BEING ORDINANCE NO. 5840 ADOPTED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF ORLAND PARK, ILLINOIS ON THE 16TH DAY OF OCTOBER, 2023.
Body
WHEREAS, the President and Board of Trustees of the Village of Orland Park, Cook and Will Counties, Illinois (the “Village”), on the 16th day of October, 2023 did adopt an Ordinance being Ordinance No. 5840, authorizing the issuance of $12,100,000 General Obligation Refunding Bonds, Series 2023 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 16th of November, 2023; and
WHEREAS, said Ordinance did authorize the issuance of General Obligation Refunding 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 2023 to 2047 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 2023.
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 Preside...
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