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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