O-944-95 11/27/95ITEM V.B.4
VILLAGE OF LEMONT
ORDINANCE NO.
AN ORDINANCE ABATING THE TAX HERETOFORE LEVIED FOR THE YEAR 1995
TO PAY DEBT SERVICE ON $790,000 GENERAL OBLIGATION REFUNDING BONDS
(ALTERNATE REVENUE SOURCE), SERIES 1994, 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 27th day of November , 1995.
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 27th
day of November , 1995
ORDINANCE 9f5/
AN ORDINANCE ABATING THE TAX HERETOFORE LEVIED FOR THE YEAR 1995
TO PAY DEBT SERVICE ON $790,000 GENERAL OBLIGATION REFUNDING BONDS
(ALTERNATE REVENUE SOURCE), SERIES 1994, 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 861 adopted
on the 2nd day of November, 1994 (the "Ordinance "), did provide for the issue of $790,000
General Obligation Bonds (Alternate Revenue Source), Series 1994 (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 int he 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 1995 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 1995 in
Ordinance Number 861 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
the year 1995 in accordance with the provisions hereof.
Section 3. Effective Date. This Ordinance shall be in full force and effect forthwith
upon its adoption.
Adopted: November A7 , 1995.
AYES:
NAYS:
ABSENT:
Attest:
,i�
Approved: November ° l , 1995
CHARLENE SMOLLEN, Village Clerk
HARD A. KW • NESKI, Village President
Mayor
Richard A. Kwasneski
Village Clerk
Charlene M. Smollen
Administrator
Steven A. Jones
LEMONT
Village of Faith
418 Main Street • Lemont, IL 60439 -3788
(708) 257 -1550
Fax (708) 257-1598
MEMORANDUM
TO: Mayor & Village Board �--
FROM: Steve Jones, Village Administrator
SUBJECT: Abatement Ordinance
DATE: November 14, 1995
ITEM III.D.
Trustees
Barbara Buschman
Alice Chin
Keith Latz
Connie Markiewicz
Rick Rimbo . -
Ralph Schobb4
Attached is a copy of an ordinance abating the 1995 property tax on our $790,000 Alternate
Revenue Bond. You will recall that the Village is funding the debt via a single year General
Obligation Bond which was approved at the meeting of October 23.
This is a routine . ordinance the Village must adopt_ on an annual basis.