O-10-11 Ord. Abating Tax Levied for 2010 $5,000,000 GO W&S BondsVILLAGE OF LEMONT
ORDINANCE 0
AN ORDINANCE ABATING THE TAX HERETOFORE LEVIED FOR THE YEAR
2010 TO PAY DEBT SERVICE ON $5,000,000 GENERAL OBLIGATION
WATERWORKS AND SEWERAGE BONDS (ALTERNATE REVENUE SOURCE), SERIES
2010A AND BUILD AMERICA BONDS (DIRECT PAYMENT) OF THE VILLAGE OF
LEMONT, COOK, WILL AND DU PAGE COUNTIES, IL
ADOPTED BY THE
PRESIDENT AND BOARD OF TRUSTEES
OF THE VILLAGE OF LEMONT
This 24th day of January , 2011
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 24th day
of January ,2011
ORDINANCE 0-1
AN ORDINANCE ABATING THE TAX HERETOFORE LEVIED FOR THE YEAR 2010
TO PAY DEBT SERVICE ON $5,000,000 GENERAL OBLIGATION WATERWORKS AND
SEWERAGE BONDS (ALTERNATE REVENUE SOURCE), SERIES 2010A AND BUILD
AMERICA BONDS (DIRECT PAYMENT) OF THE VILLAGE OF LEMONT, COOK,
WILL AND DU PAGE 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 0- 103 -10 adopted
on the 13TH day of December, 2010 (the "Ordinance "), did provide for the issue of $5,000,000
General Obligation Bonds Waterworks and Sewerage Bonds, Series 2010A (Alternate Revenue
Source), and Build America Bonds (Direct Payment) (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 2010 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 2010 in
Ordinance Number 0- 103 -10 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 2010 in accordance with the provisions hereof.
Section 3. Effective Date. This Ordinance shall be in full force and effect forthwith
upon its adoption.
PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF
THE VILLAGE OF LEMONT, COOK, WILL & DU PAGE COUNTIES, ILLINOIS on this
24th day of January , 2010.
Debby Blatzer
Paul Chialdikas
Clifford Miklos
Rick Sniegowski
Ronald Stapleton
Jeanette Virgilio
Attest:
AYE NAYS PASSED ABSENT
1
BRIAN . REAVES Ilage President
CHARLENE SMOLLEN, Village Clerk