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Home My WebLink AboutOrd 6486 11/15/2019 Authorizing the levy and collection of taxes for the corporate and municipal purposes of the village of mp for the fiscal year beginning January 1 2019 and ending December 31 2019ORDINANCE NO. 6486 AN ORDINANCE AUTHORIZING THE LEVY AND COLLECTION OF TAXES FOR THE CORPORATE AND MUNICIPAL PURPOSES OF THE VILLAGE OF MOUNT PROSPECT FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2019 AND ENDING DECEMBER 31, 2019 PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES the 19th day of November2019 Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois the 20th day of November. 2019 ORDINANCE NO. 6486 AN ORDINANCE AUTHORIZING THE LEVY AND COLLECTION OF TAXES FOR THE CORPORATE AND MUNICIPAL PURPOSES OF THE VILLAGE OF MOUNT PROSPECT FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2019 AND ENDING DECEMBER 31, 2019 NOW, THEREFORE, BE IT ORDAINED BY THE President and Board of Trustees of the Village of Mount Prospect, Cook County, Illinois, as follows: Section 1: That the sum of Thirty Million Seven Hundred and Six Thousand Four Hundred and Sixty One Dollars ($30,654,801) the same being the total amount to be levied of budget appropriations heretofore made for the corporate and municipal purposes for the fiscal year beginning January 1, 2019 and ending December 31, 2019 as approved by the President and Board of Trustees of the Village of Mount Prospect, be and the same is hereby levied on all taxable property within the Village of Mount Prospect according to the valuation of said property as is, or shall be assessed or equalized by the State and County purposes for the current year 2019. Section 2: The budgetary appropriations having been made by the President and Board of Trustees of the Village of Mount Prospect were passed and approved by Ordinance No. 6416 at a meeting hereof regularly convened and held in said Village of Mount Prospect, Illinois, on the 20t' day of November, 2018, and amended by Ordinance No. 6433 and Ordinance No. 6473, passed and approved on the 19'' day of February, 2019 and 17th September, 2019 respectively, and thereafter duly published according to law, the various objects and purposes for said budgetary appropriations are heretofore made and set forth under the column entitled "Amount Budgeted", and the specific amount herein levied for each object and purpose is set forth under the column entitled "Amount Levied", in Articles I through VI. VILLAGE OF MOUNT PROSPECT, ILLINOIS 2019 TAX LEVY ARTICLE I - POLICE PROTECTION Amount Amount Budgeted Levied Personal Services 10,566,921 4,346,500 Employee Benefits 5,877,416 0 Other Employee Costs 185,460 0 Contractual Services 1,942,802 0 Utilities 49,143 0 Insurance 148,902 0 Commodities & Supplies 196,642 0 Office Equipment 30,950 0 Other Equipment 92,400 0 Total Police Department 19,090,636 4,346,500 TOTAL BUDGET FOR POLICE PROTECTION 19,090,636 AMOUNT TO BE RAISED BY TAX LEVY 4,346,500 ADD 2% FOR LOSS & COST OF COLLECTION 86,930 TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR POLICE PROTECTION 4,433,430 ARTICLE II - FIRE PROTECTION Personal Services 9,001,343 5,049,574 Employee Benefits 5,379,998 0 Other Employee Costs 179,328 0 Contractual Services 1,259,274 0 Utilities & Insurance 67,858 0 Insurance 185,287 0 Commodities & Supplies 97,620 0 Building Improvements 13,250 0 Office Equipment 250 0 Other Equipment 244,739 0 Total Fire Department 16,428,947 5,049,574 TOTAL BUDGET FOR FIRE PROTECTION 16,428,947 AMOUNT TO BE RAISED BY TAX LEVY 5,049,574 ADD 2% FOR LOSS & COST OF COLLECTION 100,991 TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR FIRE PROTECTION 5,150,565 2 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2019 TAX LEVY ARTICLE III - DEBT SERVICE Amount Amount Budgeted Levied 00 Debt Service 00 00 514 G.O. Bonds -Series 2011B Bond Principal 775,000 775,000 Interest Expense 19,530 19,530 Bank and Fiscal Fees 0 0 Total G.O. Bonds - Series 2011B 794,530 794,530 00 00 515 G.O. Bonds - Series 2012 Bond Principal 0 0 Interest Expense 54,095 54,095 Bank and Fiscal Fees 0 0 Total G.O. Bonds - Series 2012 54,095 54,095 00 00 516 G.O. Bonds - Series 2013 Bond Principal 555,000 0 Interest Expense 369,956 0 Bank and Fiscal Fees 0 0 Total G.O. Bonds - Series 2013 924,956 0 00 00 517 G.O. Bonds - Series 2014 Bond Principal 760,000 760,000 Interest Expense 123,450 123,450 Bank and Fiscal Fees 0 0 Total G.O. Bonds - Series 2014 883,450 883,450 00 00 518 G.O. Bonds - Series 2016 Bond Principal 0 0 Interest Expense 265,800 265,800 Bank and Fiscal Fees 0 0 Total G.O. Bonds - Series 2016 265,800 265,800 00 00 565 G.O. Bonds - Series 2017 - TIF Bond Principal 0 0 Interest Expense 159,369 0 Bank and Fiscal Fees 0 0 Total G.O. Bonds - Series 2017 159,369 0 00 00 565 G.O. Bonds - Series 2017 - Water Bond Principal 140,000 0 Interest Expense 156,131 0 Bank and Fiscal Fees 0 0 Total G.O. Bonds - Series 2017 296,131 0 3 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2019 TAX LEVY ARTICLE III - DEBT SERVICE (continued) 00 00 566 G.O. Bonds - Series 2018A - TIF Bond Principal Interest Expense Bank and Fiscal Fees Total G.O. Bonds - Series 2018A - TIF 00 00 566 G.O. Bonds - Series 2018A - Water Bond Principal Interest Expense Bank and Fiscal Fees Total G.O. Bonds - Series 2018A - Water 00 00 519 G.O. Bonds - Series 2018B - New Bond Principal Interest Expense Bank and Fiscal Fees Total G.O. Bonds - Series 2018B - New 00 00 519 G.O. Bonds - Series 2018 - Refi Bond Principal Interest Expense Bank and Fiscal Fees Total G.O. Bonds - Series 2018E - Refi 00 00 565 G.O. Bonds - Series 2019A - Water Bond Principal Interest Expense Bank and Fiscal Fees Total G.O. Bonds - Series 2017 00 00 565 G.O. Bonds - Series 2019B - TIF Bond Principal Interest Expense Bank and Fiscal Fees Total G.O. Bonds - Series 2017 TOTAL BUDGET FOR DEBT SERVICE AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS & COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR DEBT SERVICE 0 Amount Amount Budgeted Levied 0 0 273,369 0 0 0 273,369 0 125,000 0 178,500 0 0 0 303,500 0 0 0 1,444,250 0 0 0 1,444,250 0 455,000 455,000 165,250 95,375 0 0 620,250 550,375 60,000 0 506,617 0 0 0 566,617 0 0 0 353,709 0 0 0 353,709 0 2,548,250 50,965 2,599,215 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2019 TAX LEVY ARTICLE IV - POLICE PENSION 00 Police Pensions Pension Benefits Contractual Services Insurance Commodities & Supplies Other Expenditures Total Police Pensions TOTAL BUDGET FOR POLICE PENSION AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS & COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR POLICE PENSION ARTICLE V - FIREFIGHTERS' PENSION 00 Fire Pensions Pension Benefits Contractual Services Insurance Commodities & Supplies Other Expenditures Total Firefighters' Pensions TOTAL BUDGET FOR FIREFIGHTERS' PENSION AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS & COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR FIREFIGHTERS' PENSION 5 Amount Amount Budgeted Levied 5,790,809 3,767,056 167,300 0 15,000 0 100 0 12,000 0 5,985,209 3,767,056 5,985,209 3,767,056 75,341 3,842,397 6,032,036 3,375,879 136,700 0 15,000 0 100 0 10,000 0 6,193,836 3,375,879 6,193,836 3,375,879 67,518 3,443,397 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2019 TAX LEVY ARTICLE VI - MOUNT PROSPECT LIBRARY 90 Mount Prospect Library Library Expenditures Bond Principal Interest Expense/Fiscal Charges Total Library Services TOTAL BUDGET FOR MOUNT PROSPECT LIBRARY AMOUNT TO BE RAISED BY TAX LEVY - Library Expenditures AMOUNT TO BE RAISED BY TAX LEVY - Bond Principal and Interest ADD 2% FOR LOSS & COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR MOUNT PROSPECT LIBRARY C9 Amount Amount Bud e� ted Levied 9,992,000 1,470,000 105,850 11,567,850 11,567,850 9,991,692 1,470,000 105,850 11,567,542 9,991,692 1,575,850 231,351 11,798,893 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2019 TAX LEVY SUMMARY Article Fund I Police Protection II Fire Protection III Debt Service IV Police Pension V Firefighters' Pension 54,464, 518 Village Totals VI Mount Prospect Library Library Services Library Debt Service Library Totals Village and Library Totals Amount to be Raised Amount by Budgeted Tax Lem $ 19,090,636 4,346,500 16,428,947 5,049,574 6,019,700 2,548,250 5,985,209 3,767,056 6,940,026 3,375,879 54,464, 518 19,087,259 9,992,000 9,991,692 1,575,850 1,575,850 11,567,850 11,567,542 $ 66,032,368 30,654,801 7 Total Amount Tax Levy for Loss Incl. Loss and Cost and Cost 86,930.00 4,433,430 100,991.00 5,150,565 50,965.00 2,599,215 75,341.00 3,842,397 67,518.00 3,443,397 381,745.00 19,4 69,004 199,834 10,191,526 31,517 1,607,367 231,351 11,798,893 613,096 31,267,897 Section 3: The sum of $363,000 is budgeted to be received from personal property replacement tax revenue during the fiscal year commencing January 1, 2019 and ending December 31, 2019 and has been included herein as funds to be derived from sources other than property taxes supporting expenses related to police and fire protection, general obligation bonds and interest, public safety pensions and library services. Section 4: That the County Clerk is directed to add 2% to the requested tax levy as a provision for loss and cost. Section 5: That the Village Clerk of the Village of Mount Prospect is hereby directed to certify a copy of this Ordinance and is hereby authorized and directed to file a copy of the same with the County Clerk of Cook County, Illinois, within the time specified by law. Section 6: That, if any part or parts of this Ordinance shall be held to be unconstitutional or otherwise invalid, such constitutionality or invalidity, shall not affect the validity of the remaining parts of this Ordinance. The President and Board of Trustees of the Village of Mount Prospect hereby declares that they would have passed the remaining parts of the Ordinance of they had known that such parts or parts thereof would be declared unconstitutional or otherwise invalid. Section 7: That this Ordinance shall be in full force and effect from and after its passage, approval, publication in pamphlet form and recording, as provided by law. AYES: Hatzis, Saccotelli, Zadel, Juracek NAPES: Grossi, Hoefert, Rogers ABSENT: None PASSED and APPROVED this 19th day of November, 2019. ....... __............ _ .._�t �... °. ww ...__........_ q'. . e A. Juracek, Mayor ATTEST: ... Karen Agorano Village ........�..._._.__.._......... ... Clerk VILLAGE OF MOUNT PROSPECT Primary Levy - 2019 2% Gross Net Provision Total 2019 Capitalized Subsidy/ 2019 Loss and 2019 Levy Interest Abatements Levy Costs ExtenSitn VILLAGE OF MOUNT PROSPECT Police Protection 4,346,500 4,346,500 86,930 4,433,430 Fire Protection 5,049,574 5,049,574 100,991 5,150,565 Police Pension Fund 3,864,556 97,500 3,767,056 75,341 3,842,397 Firefighters' Pension Fund 3,488,379 112,500 3,375,879 67,518 3,443,397 Total Operational Levy 16,749,009 210,000 16,539,009 330,780 16,869,789 Debt Service Funds Series 2011B 794,530 794,530 15,891 810,421 Series 2012 54,095 54,095 1,082 55,177 Series 2013 924,956 924,956 Series 2014 883,450 883,450 17,669 901,119 Series 2016 265,800 265,800 5,316 271,116 Series 2017 (TIF) 159,369 159,369 Series 2017 (WTR) 296,131 296,131 Series 2018a (TIF) 273,369 273,369 Series 201 Ba (WTR) 303,500 303,500 Series 2018b (new) 1,444,250 722,125 722,125 Series 2018b (refi) 620,250 69,875 550,375 11,007 561,382 Series 2019a (WTR) 566,617 566,617 Series 2019B (TIF) 353,709 - 353,709 - - Total Debt Service Levy 6,940,026 1,154,863 3,236,913 2,548,250 50,965 2,599,215 Total Village Levy 23,689,035 1,154,863 3,446,913 19,087,259 381,745 19,469,004 Mount Prospect Public Library Library Levy Fund 9,991,692 9,991,692 199,834 10,191,526 Library Debt Service 1,575,850 1,575,850 31,517 1,607,367 Total Library Levy 11,567,542 - 11,567,542 231,351 11,798,893 Total Village and Library Combined 35,256,577 1,154,863 3,446,913 30,654,801 613,096 31,267,897