Title
AN ORDINANCE ABATING TAXES HERETOFORE LEVIED FOR THE YEAR 2019 TO PAY DEBT SERVICE ON TAXABLE GENERAL OBLIGATION REFUNDING BONDS, SERIES 2012B 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”), by Ordinance No. 4674 adopted on the 19th day of September, 2011, as supplemented by a Bond Order and Notification of Sale, dated November 19, 2012 (together, the “Ordinance”), authorized the issuance of $18,000,000 Taxable General Obligation Refunding Bonds, Series 2012B (the “Series 2012B 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 5th day of December, 2012; 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 2019.
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 the Village in and for each of the years 2012 and 2021, 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, ...
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