O-87-98 11/23/98VILLAGE OF LEMONT
ORDINANCE NO.
ORDINANCE ABATING THE TAX HERETOFORE LEVIED FOR THE YEAR 1998
TO PAY DEBT SERVICE ON $1,400,000 GENERAL OBLIGATION TAX INCREMENT
BONDS, SERIES 1996 (ALTERNATE REVENUE SOURCE), OF THE VILLAGE OF
LEMONT, COOK, DU PAGE AND WILL COUNTIES, ILLINOIS
ADOPTED BY THE
PRESIDENT AND BOARD OF TRUSTEES
OF THE VILLAGE OF LEMONT
This 23rd day of November , 1998.
Published in pamphlet form by
authority of the President and
Board of Trustees of the Village of
Lemont, Counties of Cook, Will, and
DuPage, Illinois this 23rd
day of November , 1998
ORDINANCE( f7- a
AN ORDINANCE ABATING THE TAX HERETOFORE LEVIED FOR THE YEAR 1998
TO PAY DEBT SERVICE ON $1,400,000 GENERAL OBLIGATION TAX INCREMENT
BONDS, SERIES 1996 (ALTERNATE REVENUE SOURCE), OF THE VILLAGE OF
LEMONT, COOK, DU PAGE AND WILL COUNTIES, ILLINOIS
WHEREAS, the President and Board of Trustees (the "Board") of the Village of
Lemont, Cook, DuPage and Will Counties, Illinois (the "Village "), by Ordinance 986 adopted
on the 10th day of June, 1996 (the "Ordinance "), did provide for the issue of $1,400,000
General Obligation Tax Increment Bonds (Alternate Revenue Source), Series 1996 (the
"Bonds"), and the levy of a direct annual tax sufficient to pay principal and interest on the
bonds; and
WHEREAS, the Village will have pledged revenues (as defined in the Ordinance)
available for the purpose of paying the debt service due on the Bonds during the next
succeeding bond year; and
WHEREAS, it is necessary and in the best interests of the Village that the tax
heretofore levied for the year 1998 to pay such debt service on the Bonds be abated;
NOW, THEREFORE, BE IT ORDAINED by the President and Board of Trustees of
the Village of Lemont, Cook, DuPage and Will Counties, Illinois, as follows:
Section 1. Abatement of Tax. The tax heretofore levied for the year 1998 in
Ordinance Number 986 is hereby abated in its entirety.
Section 2. Filing of Ordinance. Forthwith upon the adoption of this ordinance, the
Village shall file a certified copy hereof with the County Clerks of Cook, DuPage and Will
Counties, Illinois, and it shall be the duty of said County Clerks to abate said tax levied for
Section 3. Effective Date. This Ordinance shall be in full force and effect forthwith
upon its adoption.
Adopted: November
AYES:
NAYS:
ABSENT:
23rd , 1998.
Attest:
Approved: November 23rd , 1998
CHARLENE SMOLLEN, Village Clerk
Approved to form:
illage Attorney
Date: /7-78' - 9e
ASNESKI, Village President