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