title
APPROPRIATION FOR THE
LIMITED TAX GENERAL OBLIGATION REFUNDING BONDS
(COURTHOUSE PROJECT) SERIES 2016
COMPANY 7000, ACCOUNTING UNIT 7018
FOR FISCAL YEAR 2026
$3,611,755
resolution
WHEREAS, pursuant to Section 1.11 of Ordinance Number FI-O-0005-16, the County of DuPage has established a General Obligation Refunding Bonds (Courthouse Project) Series 2016 Debt Service Fund to account for the principal and interest payments and fiscal agent fees on the General Obligation Refunding Bonds (Courthouse Project) Series 2016 ("2016 Bonds"); and
WHEREAS, the DuPage County Board adopted Ordinance Number FI-O-0005-16 on January 12, 2016, and executed an accompanying Bond Order on January 20, 2016, setting forth the tax levy for each of the levy years the 2016 Bonds are outstanding; and
WHEREAS, pursuant to Section 1.9 of Ordinance Number FI-O-0005-16, the 2016 Bonds shall be payable from the annual property tax levied on all taxable property within the County, which constitutes a revenue source; and
WHEREAS, the 2025 taxes have been levied in compliance with said Bond Order; and
WHEREAS, the 2016 Bonds are payable from, and secured by, a pledge of the revenue sources; and
WHEREAS, there exists a need to appropriate the amount of $3,611,755 (THREE MILLION, SIX HUNDRED ELEVEN THOUSAND, SEVEN HUNDRED FIFTY-FIVE AND NO/100 DOLLARS) to pay the bond principal and interest and fiscal agent fees due on the 2016 Bonds in Fiscal Year 2026; and
WHEREAS, adequate funds are projected to be available in the 2016 Bonds Debt Service Fund to accommodate up to, but not to exceed, $3,611,755 (THREE MILLION, SIX HUNDRED ELEVEN THOUSAND, SEVEN HUNDRED FIFTY-FIVE AND NO/100 DOLLARS).
NOW, THEREFORE, BE IT RESOLVED by the DuPage County Board that ...
Click here for full text