S-660 - 01/24/1989 - BOND - Ordinances AR►ATI�Mi�O"
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ORDINANCE NO. S 660
AN ORDINANCE PROVIDING FOR THE PARTIAL ABATEMENT OF THE 1988
TAX LEVY OF THE $10,270`000 GENERAL OBLIGATION RECREATION BONDS OF
THE VILLAGE OF OAK BROCK. ILLINOIS DATED SEPTEMBER 1, 1977
I
WHEREAS, the Village of Oak Brook, DuPage 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 S-385, certified
copies of which ordinance were duly filed with the County Clerks of Cook County
and DuPage County, respectively, as required by law; and
WHEREAS, the Village of Oak Brook has allocated revenues for the
purpose of paying a portion of the principal and interest on the bonds,
aforesaid, that was to be paid from the proceeds of the 1988 tax levy, said
principal and interest together totalling $921,900.00.
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 1988 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 1988 tax levy to $621,900.00.
Section L: 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 DuPage 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 24th day of January , 1989.
Ayes: Trustees Bartecki, Bushy, 1mrie, Maher, Rush and Winters
Hays: None
Absent: None
APPROVED this 24th _ day of January , 1989.
Vil T a rgsi ent
ATTEST:
�Vi=Y.11,ngi ,.,ss�e,
Published
Approved an to Farm:
Not Published
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