Title
AN ORDINANCE ABATING TAXES LEVIED FOR THE YEAR 2023 BY AN ORDINANCE PROVIDING FOR THE ISSUANCE OF NOT TO EXCEED $22,000,000 GENERAL OBLIGATION BONDS, SERIES 2022A, 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. 5715 ADOPTED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF ORLAND PARK, ILLINOIS ON THE 2nd DAY OF MAY, 2022.
Body
WHEREAS, the President and Board of Trustees of the Village of Orland Park, Cook and Will Counties, Illinois (the “Village”), on the 2nd day of May, 2022 did adopt an Ordinance being Ordinance No. 5715, authorizing the issuance of $22,000,000 General Obligation Bonds, Series 2022A of said Village, as supplemented by a Bond Order and Notification of Sale dated May 11, 2022 (together, the “Ordinance”); 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 County of Cook, Illinois, on the 1st day of June, 2022, and of the County of Will, Illinois, on the 2nd day of June, 2022; 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 2022 to 2046 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 V...
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