title
APPROPRIATION FOR THE
GENERAL OBLIGATION DEBT CERTIFICATES, SERIES 2017
DEBT SERVICE FUND
COMPANY 7000, ACCOUNTING UNIT 7020
FOR FISCAL YEAR 2026
$683,450
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 $683,450 (SIX HUNDRED EIGHTY-THREE THOUSAND, FOUR HUNDRED FIFTY AND NO/100 DOLLARS) to pay the annual principal and interest due on the General Obligation Debt Certificates, Series 2017 in Fiscal Year 2026; and
WHEREAS, adequate funds are projected to be available in the 2017 Bonds Debt Service Fund to accommodate up to, but not to exceed, $683,450 (SIX HUNDRED EIGHTY-THREE THOUSAND, FOUR HUNDRED FIFTY AND NO/100 DOLLARS).
NOW, THEREFORE, BE IT RESOLVED by the DuPage County Board that the appropriation in the amount of $683,4...
Click here for full text