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ORDINANCE NO. 2465 <br />AN ORDINANCE REGARDING THE REDEMPTION OF OUTSTANDING <br />GENERAL OBLIGATION BONDS, SERIES 1987 OF THE VILLAGE <br />OF ELR GROVE VILLAGE <br />WHEREAS the Village of Elk Grove Village issued $5,000,000 <br />General Obligation Bonds, Series 1987 on December 17, 1987, for <br />the purpose of capitalizing the High -Level Excess Liability Pool <br />("HELP"), and <br />WHEREAS the Village exercised the option to redeem the <br />outstanding Series 1987 bonds on December 1, 1995; <br />NOW, THEREFORE, BE IT ORDAINED by the President and Board of <br />Trustees of the Village of Elk Grove Village, Illinois as <br />follows: <br />Section 1: That the County Clerks of Cook and DuPage <br />counties, are hereby authorized and directed to abate the <br />remaining taxes levied in Ordinance 1930, an ordinance providing <br />for the issuance of $5,000,000 General Obligation Bonds, Series <br />1987 of the Village of Elk Grove Village, Counties of Cook and <br />DuPage, Illinois. <br />Section 2: That the Village Clerk is hereby authorized and <br />directed to file a certified copy of this Ordinance with the <br />County Clerks of Cook and DuPage Counties, Illinois prior to <br />March 1, 1996. <br />Section 3: That the Village Clerk is hereby authorized to <br />publish this Ordinance in pamphlet form. <br />Section 4: That this Ordinance shall be in full force and <br />effect from and after its passage, approval and publication <br />according to law. <br />VOTE: AYES: 6 NAYS: 0 ABSENT: 0 <br />PASSED this 23rd day of January , 1996. <br />APPROVED this 23rd day of January , 1996. <br />Dennis J. Gallitano <br />Village President <br />ATTEST: <br />Patricia S. Smith <br />Village Clerk <br />PUBLISHED this 26th day of January ,1996 in Pamphlet Form. <br />