HomeMy WebLinkAboutOrd 2913 06/05/1979
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ORDINANCE NO.
2913
AN ORDINANCE PROPOSING THE SALE OF BONDS FOR
VILLAGE OF MOUNT PROSPECT SPECIAL SERVICE AREA
NUMBER 1 AND PROVIDING FORA PUBLIC HEARING
AND OTHER PROCEDURES IN CONNECTION THEREWITH
WHEREAS, the President and Board of Trustees
passed and approved Ordinance No.2912
entitled, "An Ordi-
nance Establishing Village of Mount Prospect Special Service
Area Number I," on June 5, 1979¡ and
WHEREAS, said Village of Mount Prospect Special
Service Area Number 1 is legally described in Section Three
hereinafter¡ and
WHEREAS, Section 1307 of Chapter 120, Ill. Rev.
Stat., 1977, provides that full faith and credit bonds may
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be issued and taxes levied within a special service area
to retire said bonds in order to pay for the provision
of special services to such special service area¡ and
WHEREAS, it is proposed that bonds in the princi-
pal amount not in excess of $220,000.00 shall be issued to
be retired over a period not to exceed twenty (20) years
and to bear interest at a rate not to exceed eight percent
(8%) per annum to pay for any and all the costs and expenses
of the acquisition of the existing water mains, hydrants,
meters and related appurtenant facilities and easements in connection
therewi th of the Prospect Meadows Water ~Ý and the construction of
substantial additions to and .improvement of such facilities including,
but not limited to, the construction and installation of new
6-inch water mains in and along specified sections of Forest
Avenue and Elmhurst Streets in the Village of Mount Prospect,
and, where required, the construction and installation of new
connection points, the installation of additional new fire
hydrants, the purchase and installation of water meters and
all work, rights in land, materials or services related
thereto¡ and
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WHEREAS, it is proposed that the bonds proposed
to be issued shall be retired by the levy of a tax on all
taxable real estate located within said Village of Mount
Prospect Special Service Area Number 1 in order to pay
interest on said bonds when it becomes due and to discharge
the principal thereof at maturity.
NOW, THEREFORE, BE IT ORDAINED By The President
and Board of Trustees of the Village of Mount Prospect,
Cook County, Illinois as foilows:
SECTION ONE:
The foregoing recitals are incor-
porated herein as though fully set forth.
SECTION TWO:
The President and Board of Trustess
of the Village of Mount Prospect find that it is in the
public interest and the interest of the owners of real es-
tate and residents of Village of Mount Prospect Special
Service Area Number 1 that a public hearing be held on
June 26, 1979 at 8:00 p.m. in the Board Room on the Public
Safety Building, 112 East Northwest Highway, Mount Prospect,
Illinois to consider the question of whether bonds in the
principal amount not in excess of $220,000.00 be issued to be
retired over a period not to exceed 20 years at an interest
rate not to exceed 8 percent per annum to pay for any and
all costs and expenses connected with the acquisition of the
existing water mains, hydrants, meters and related
ppurtenant facilities and easements in connection therewith of the Prospect
eadows Water ~y, and the construction of substantial additions to and
irovenent of such facilities including, but not limited to, the
onstruction and installation of new 6-inch water mains in
nd along specified sections of Forest Avenue and Elmhuirst
treets in the Village of Mount Prospect, and, where required,
e construction and installation of new connection
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points, the installation of additional new fire hydrants,
the purchase and installation of water meters and all work,
rights in land, materials or services related thereto.
SECTION THREE:
The Village Clerk shall give notice
of such hearing in the following manner:
Notice of such
hearing shall be published at least once not less than fif-
teen (IS) days prior to the public hearing in The Mount
Prospect Herald, a newspaper of general circulation in the
Village of Mount Prospect.
In addition, notice by mailing
shall be given by depositing a copy of said notice in the
u.s. mail addressed to the person or persons in whose name
the general taxes for the last preceding year were paid on
leach lot, block, tract, and parcel of land lying within
said special service area. Said notice shall be mailed not
less than ten (10) days prior to the date set for the public
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earing.
In the event taxes for the last preceding year
ere not paid, the notice shall be sent to the person last
isted on the tax roll prior to that year as the owner of
aid property.
The notice shall be in substantially the
ollowing form:
NOTICE OF HEARING
VILLAGE OF MOUNT PROSPECT
SPECIAL SERVICE AREA NUMBER 1
NOTICE IS HEREBY GIVEN that on 26th day of June,
1979, at 8:00 p.m., in the Board Room of the Public Safety
uilding, 112 Eas~ Northwest Highway, Mount Prospect, Illi-
ois, a hearing will be held by the President and Board of
rustees of the Village of Mount Prospect to consider the
bonds in an am:::>unt not to exceed $220,000.00 to be retired
er a period not to exceed twenty (20) years and to bear interest at a
ate not to exceed eight (8) percent, which bonds shall be retired by the
evy of a direct annual tax on all taxable real estate located
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in Village of Mount Prospect Special Service Area Number 1,
consisting of the following described territory:
All that part of the West 1/2 of the
Southwest 1/4 of Section 27, Township
42 North, Range 11 East of the Third Principal
Meridian described as follows: Commencing
at a point on the West line of the South-
west 1/4 of Section 27 aforesaid which is
50.0 feet North of the Southwest corner
thereof¡ thence North on the West line of
the Southwest 1/4 of Section 27 aforesaid to
a.point which is 250.0 feet south of the
Northwest corner of the Southwest 1/4 of
Section 27 aforesaid¡ thence East parallel
with the North line of the Southwest 1/4
of Section 27 aforesaid, 436.78 feet¡
thence Northeasterly at right angles to the
center line of Rand Road 134.77 feet to the
Northeasterly line of Rand Road and the South-
wes~~rly line of Lot 7 in Arlington Meadows
being a subdivision of that part '6f the'
West 1/2 of the Southwest 1/4 lying North-
easterly of the center line of Rand Road in
Section 27, Township 42 North, Range 11
East of the Third Principal Meridian¡
thence South Easterly along the Northeasterly
line of Rand Road and the Southeasterly
line of Lot 7 in Arlington Meadows aforesaid
to the Northwesterly corner of Lot 9 in
Arlington Meadows aforesaid¡ thence South-
westerly at right angles to the Northeasterly
'line of Rand Road, a distance of 50 feet
to the center line of Rand Road, thence
Southeasterly along the center line of Rand
Road to it's intersection with the extension
to the Northeast of the Southeasterly line'
of Lot 5 in Block 3 in Prospect Meadows, a
subdivision of the West 1/2 of the South-
west 1/4 of Section 27, Township 42 North,
Range 11 East of the Third Principal Meridian¡
thence Southwesterly along the aforesaid
extension and the Southeasterly line of Lot 5
in Block 3 aforesaid to the Soutl1.ep.s'tE:!rly
corner of Lot 5 in Blook 3 aforesaid¡ thence
Southeasterly along the Northeasterly line
of Lots 16 and 15 in Block 3 afor~said to,the
Southeasterly corner of Lot 15 in Block 3
aforesaid¡ thence Southeasterly to a point
on the Northwesterly line of Lot 14 in Block
3 aforesaid which is 48.0 feet Southwesterly
of the Northeast corner of Lot 14 aforesaid¡
thence Southeasterly to a point on the South-
easterly line of Lot 14 in Block 3 aforesaid
which is 11.0 feet Sout,hwesterly of the South-
east corner of Lot 14 in Block 3 aforesaid¡
thence Northeasterly along the Southwesterly
line of Lot 14 in Block J aforesaid 11.0
feet to the Southeast corner of Lot 14 in
Block 3 aforesaid¡ thence South along the
East line of Lots 13 p.nd 14 p.ndalong the
line which measures 12.0 feet in lE:ngth
North and South of Lot 10 all in Block 3
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aforesaid to the Northerly line of Lot 10
in Block 3 aforesaid being the Easterly
portion of Lot 10 which measures 36.0
feet in length in an East and West direction;
thence East along the Northerly line of
Lot 10 in Block 3 aforesaid, 36'.0 feet to
the East line of Lot 10 in Block 3 afore-
said, thence South along the East line of
Lot 10 in Block 3 aforesaid to the Southeast
corner of LotIO in Block 3 aforesaid;
thence East along the South line of Lot 9
in Block 3 aforesaid to the Southeast corner
in Block 3 aforesaid;
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thence East along the South line of Lot 9 ~n
Block 3 aforesaid to the Southeast corner of
Lot 9 in Block 3 aforesaid; thence East 33
feet to a point on the East line of the West
1/2 of the Southwest 1/4 of Section 27 afore-
said, which is 278.24 feet South of the North-
east corner of the Southwest 1/4 of the South-
west 1/4 of Section 27 aforesaid; thence
South along the East line of the West 1/2 of
the Southwest 1/4 of Section 27 aforesaid to
a point 50.0 feet North of the Southeast
corner of the West 1/2 of the Southwest 1/4
of Section 27 aforesaid; thence West along a
line which is 50.0 feet North of and parallel
to the South line of the West 1/2 of the South-
west 1/4 of Section 27 aforesaid to the point
of beginning, all in Cook County, Illinois.
The approximate street location of Village of
Mount Prospect Special Service Area Number 1 is the area
ithin the corporate limits of the Village of Mount Pros-
ect bounded by Forest Avenue on the West, Rand Road on the
orth, Elmhurst Road (and Elmhurst Road extended to Rand
the East, and Kensington Road on the South.
An
map of this territory is on file with the Village
100 S. Emerson St., Mount Prospect, Illinois.
The purpose for the issuance of said bonds is to
and all the costs and expenses of the acquisi-
the existing water mains, hydrants, meters and
elated appurtenant facilities and any and all easements in connection
ewith of the Prospect Meadows Water Canpany and the construction of
tantial additions to and improvements of such facilities including,
t not limited to, the construction and installation of new 6-inch water
in and alOn:J specified sections of Forest Avenue and Elmhurst Streets
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in the Village of Mount Prospect and, mere required, the construction and
installation of nav connection points, the installation of additional
new fire hydrants, the purchase and installation of water
meters and all work, rights in land, materials or services
related thereto.
All interested persons affected by the proposed
issuance of said bonds of the Village of Mount Prospect
'Special Service Area Number 1, including all persons owning
real estate or taxable personalty within such area, may file
written objections with the Village Clerk and may be heard
orally and may object orally to the issuance of bonds for
the provision of special services to the area, or the retire-
ment of such bonds or both.
The hearing may be adjourned by
the Board to another date without further notice other than
a motion to be entered upon the minutes of its meeting fixing
the time and place of its adjournment.
If a petition signed by at least fifty-one percent
(51%) of the electors residing within Village of Mount
Prospect Special Service Area Number 1 and by at least fifty-
one percent (51%) of the owners of record of the land included
within the boundaries of said special service area, is filed
with the Village Clerk within sixty (60) days following the
final adjournment of the public hearing objecting to the
issuance of bonds for the provision of special services to
illage of Mount Prospect Special Service Area Number 1, or
to the retirement of such bonds, no such bonds may be issued. By
Order of the President and Board of Trustees of the Village of Mount Prospect,
Cook County. Illinois, this 5th day of June, 19790
Donald W. Goodman
Village Clerk
SECTION FOUR:
This Ordinance shall be in full
orce and effect ten (10) days after its passage, approval
nd publication in the manner provided by law.
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AYES: 6
NAYS: 0
ABSENT: 0
PASSED THIS 5th
APPROVED THIS 5th
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DAY OF June
, 1979.
DAY OF
June
,1979.
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I ~ President
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Clerk