S-484 - 12/08/1981 - BOND - Ordinances ORDINANCE NO. S - 484
AN ORDINANCE PROVIDING FOR THE PARTIAL ABATEMENT 'OF THE
1981 TAX LEVY ON THE $10 ,2703,000 GENERAL OBLIGATION RE-
CREATION BONDS OF THE VILLAGE OF OAK BROOK, ILLINOIS
DATED SEPTEMBER 1 , 1977
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 ordinances were duly
filed with the County Clerks of Cook County and DuPage County, re-
spectively, as required by law; and
WHEREAS, the Village of Oak Brook has allocated revenues for
the purpose of paying a portion on the princcpal and interest on the
bonds , aforesaid, that was to be paid from the proceeds of the 1980
tax levy, said principal and interest together totalling $912 ,050 . 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 Bounties , Illinois , to be extended for the year 1981
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 Six Hundred Thousand
Dollars ($600 ,000 . 00) , thus reducing the said 1981 levy to $312 ,050 . 00 .
Section 2 : That the abatement herein made in Section 1. here-
of shall be in addition to any other reductions in said levy legally re-
quired to be made pursuant to the provisions of Chapter 120 , paragraph
616 of the Illinois Revised Statutes relative to the Personal Property
Tax Replacement Fund.
Section 3 : That a certified cony of this Ordinance be filed
1 .
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 8th day of December 1981 .
Ayes : Trustees Congreve, Trie, Listecki, Philip, Rush and Watson
Nays : None
Absent :-President Cerne
Approved this 8th day of December 1981 .
Village President
ATTEST:
Village Clerk
Ordinance S- 484
Page 2
1981 Abatement Tax Levy
Recreation Bonds
APPROVED AS TO FORM:
Vil age tt ney
Published
Date Paper
Not Published X