S-514 - 12/13/1983 - BOND - Ordinances ORDINANCE NO. 5-514
AN ORDINANCE PROVIDING FOR THE PARTIAL. ABATEMENT OF THE 1983
TAX LEVY ON THE $10,270,000 GENERAL OBLIGATION RECREATION BONDS OF
THE VILLAGE OF OAK BROOK, ILLINOIS DATED SEPTEMBER 1 , 1977
WHEREAS, the Village of Oak Brook, Du Page and Cook Counties, Illinois has
heretofore issued General Obligation Recreation Bonds, dated September 1, 1977,
in the total amount of $10,270,000 pursuant to Ordinance 5-385, certified copies
of which ordinances were duly filed with the County Clerks of Cook County and
Du Page County, respectively, as required by law; and
WHEREAS, the Village of Oak Brook has allocated revenues for the purpose of
paying a portion on the principal and interest on the bonds, aforesaid, that was
to be paid from the proceeds of the 1983 tax levy, said principal and interest
together totalling $966,900.00.
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE
VILLAGE OF OAK BROOK, DU PAGE AND COOK COUNTIES, ILLINOIS as follows:
Section 1 : That the tax levy of the Village of Oak Brook, DuPage and Cook
Counties, Illinois, to be extended for the year 1983 for the purpose of paying
the principal and interest on the $10,270,000 General Obligation Recreation
Bonds, dated September 1, 1977, be and the same is reduced and abated in the
amount of Three Hundred Thousand Dollars and No Cents ($300,000.00) , thus
reducing the said 1983 tax levy to $666,900.00.
Section 2: That the abatement herein made in Section 1 hereof shall be in
addition to any other reductions in said levy legally required to be made
pursuant to the provisions of Chapter 85, paragraph 616 of the Illinois Revised
Statutes relative to the Personal Property Tax Replacement Fund.
Section 3: That a certified copy of this Ordinance be filed forthwith with
the County Clerk of Du Page County and with the County Clerk of Cook County.
Section 4: That this Ordinance shall be in full force and effect from and
after its passage and approval as provided by law.
Passed this day ofd , 1983•
Ayes: Trustees Imrie, Listecki, Maher, Philip, Rush, and Watson
Nays: None
Absent: None
Approved this `3 ' day of �ta_c_e �o� , 19
X,ruo�"
' V11196f6 President
ATTEST.:
;0
,.Village Clerk
Published
Approved as to Form: Date Paper
Not Published X
Vii age Attorney