PENDING ORDINANCES
ORDINANCE NO. 650-2019
AN ORDINANCE ABATING THE TAX LEVIED FOR THE YEAR 2019 TO PAY THE PRINCIPAL AND INTEREST ON THE GENERAL OBLIGATION BONDS (ALTERNATE SOURCE), SERIES 2011, OF THE VILLAGE OF CERRO GORDO, PIATT COUNTY, ILLINOIS
ADOPTED BY THE
BOARD OF TRUSTEES
VILLAGE OF CERRO GORDO
This 18th day of November, 2019
Published in pamphlet form by authority of the Board of Trustees of the Village of Cerro Gordo, Piatt County, Illinois, this 18th day of November, 2019.
 
CERTIFICATE:
 
______________________________
Tina McCarty, Village Clerk
ORDINANCE NO. 650-2019
AN ORDINANCE abating the tax heretofore levied for the year 2019 to pay the debt service on $900,000.00 General Obligation Bonds (Alternate Revenue Source), Series 2011, of the Village of Cerro Gordo, Piatt County, Illinois.
   WHEREAS, the President and Board of Trustees (the “Corporate Authorities”) of the Village of Cerro Gordo, Piatt County, Illinois (the “Village”), by ordinance adopted on the 17th day of January, 2011 (the “Ordinance”), did provide for the issue of $900,000 General Obligation Bonds (Alternate Revenue Source), Series 2011 (the “Bonds”), and the levy of a direct annual tax sufficient to pay the debt service on the Bonds; and 
   WHEREAS, the Village has Pledged Revenues (as defined in the Ordinance) in the “Pledged Revenues Account” referred to Section 10 of the Ordinance for the purpose of paying the debt service on the Bonds up to and including June 1, 2029; and
   WHEREAS, it is necessary and in the best interests of the Village that the tax heretofore levied for the year 2019 to pay the debt service on the Bonds be abated:
   NOW, THEREFORE,    Be It Ordained by the President and Board of Trustees of the Village of Cerro Gordo, Piatt County, Illinois, as follows:
   Section 1.  Abatement of Tax.  The tax heretofore levied for the year 2019 in the Ordinance is hereby abated in its entirety.
   Section 2.  Filing of Ordinance.  Forthwith upon the adoption of this ordinance, the Village Clerk shall file a certified copy hereof with the County Clerk of Piatt County, Illinois, and it shall be the duty of said County Clerk to abate said tax levied for the year 2019 in accordance with the provisions hereof.
   Section 3.  Effective Date.  This ordinance shall be in full force and effect forthwith upon its passage by the Corporate Authorities and signing and approval by the President.
   Passed by the Corporate Authorities on November 18th, 2019.
   Approved November 18, 2019.
                     ____________________________
                              Acting President          
 
AYES: _______________________________________________________________ 
NAYS: ________________________________________________________________
ABSENT: ______________________________________________________________ 
 
Recorded in the Village Records on November 18, 2019.
 
ATTEST:
___________________________________________ 
      Village Clerk
 
STATE OF ILLINOIS   )
) ss.
COUNTY OF PIATT      )
 
   CERTIFICATE
I, TINA McCARTY, Village Clerk of the Village of Cerro Gordo, County of Piatt and State of Illinois, DO HEREBY CERTIFY that the foregoing is a true and correct copy of Ordinance No. 650-2019, “AN ORDINANCE ABATING THE TAX LEVIED FOR THE YEAR 2019 TO PAY THE PRINCIPAL AND INTEREST ON THE GENERAL OBLIGATION BONDS (ALTERNATE SOURCE), SERIES 2011, OF THE VILLAGE OF CERRO GORDO, PIATT COUNTY, ILLINOIS”, which was adopted by the corporate authorities of the Village of Cerro Gordo, on November 18, 2019.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate seal of the Village of Cerro Gordo, Illinois, at the said Village, in the County of Piatt and State of Illinois, on November 18, 2019.
               ________________________________________
               TINA McCARTY, VILLAGE CLERK
 
   (SEAL)