DU PAGE COUNTY - File #: FI-R-0244-23

• File #: FI-R-0244-23
• Version: 1
• Type: Finance Resolution
• Status: Adopted
• File created: 10/17/2023
• In control: Finance Committee
• On agenda: 10/24/2023
• Final action: 11/28/2023
• Title: APPROPRIATION FOR THE GENERAL OBLIGATION DEBT CERTIFICATES, SERIES 2017 DEBT SERVICE FUND COMPANY 7000, ACCOUNTING UNIT 7020 FOR FISCAL YEAR 2024 $689,120

Date	Ver.	Action By	Action	Result
11/28/2023	1	DuPage County Board	Approved	Pass
10/24/2023	1	Finance Committee	Approved at committee	Pass

title

APPROPRIATION FOR THE

GENERAL OBLIGATION DEBT CERTIFICATES, SERIES 2017

 DEBT SERVICE FUND

COMPANY 7000, ACCOUNTING UNIT 7020

FOR FISCAL YEAR 2024

$689,120

resolution

WHEREAS, pursuant to Ordinance Number FI-O-0051-17, the County of DuPage has established a General Obligation Debt Certificates, Series 2017 Debt Service Fund to account for the principal and interest payments on the General Obligation Debt Certificates, Series 2017 (“2017 Bonds”); and

WHEREAS, pursuant to Section 7 of Ordinance Number FI-O-0051-17, the 2017 Bonds shall be payable from general funds of the County and other sources as are otherwise lawfully available, each of which constitutes a revenue source; and

                      WHEREAS, the DuPage County Board executed a Certificate Order on November 27, 2017, setting forth the debt service payments for each of the years the 2017 Bonds are outstanding; and

WHEREAS, pursuant to Section 6 of the Certificate Order, semi-annual principal and interest payments on the outstanding 2017 Bonds are due on January 1 and July 1 of each calendar year; and

WHEREAS, the 2017 Bonds are payable from, and secured by, a pledge of the revenue sources; and

WHEREAS, there exists a need to appropriate the amount of $689,120 (SIX HUNDRED EIGHTY-NINE THOUSAND ONE HUNDRED TWENTY AND NO/100 DOLLARS) to pay the annual principal and interest due on the General Obligation Debt Certificates, Series 2017 in Fiscal Year 2024; and

WHEREAS, adequate funds are projected to be available in the 2017 Bonds Debt Service Fund to accommodate up to, but not to exceed, $689,120 (SIX HUNDRED EIGHTY-NINE THOUSAND ONE HUNDRED TWENTY AND NO/100 DOLLARS).

NOW, THEREFORE, BE IT RESOLVED by the DuPage County Board that the appropriation in the amount of $689,120 (SIX HUNDRED EIGHTY-NINE THOUSAND ONE HUNDRED TWENTY AND NO/100 DOLLARS) be added to the Fiscal Year 2024 Appropriation Ordinance.

end

Enacted and approved this 28^th day of November, 2023 at Wheaton, Illinois.

________________________________

DEBORAH A. CONROY, CHAIR

DU PAGE COUNTY BOARD

Attest: ___________________________________

JEAN KACZMAREK, COUNTY CLERK