HomeMy WebLinkAboutOrd 6542 to abate a part of the taxes levied for corporate and municipal purposes of the Village of Mount Prospect, IL for the fiscal year beginning January 1, 2020 and ending December 31, 2020ORDINANCE NCIH. 6542
AN ORDINANCE TO ABATE A PART OF THE TAXES LEVIED FOR
CORPORATE AND MUNICIPAL PURPOSES OF THE VILLAGE OF
MOUNT PROSPECT, ILLINOIS FOR THE FISCAL YEAR. BEGINNING
JANUARY 1, 2020 AND ENDING DECEMBER 1, 2020
PASSED ANIS APPROVED BY
THE PRESIDENT AI L) BOARD OF
TRUSTEES the 17thNovember, 2020
Published in pamphlet form b
authority of the corporate authorities
of the Village of Mount Prospect, Illinois,
the 18th day of November, 2020.
I
A
CORPORATE AND MUNICIPAL PURPOSES OF THE VILLAGE OF
MOUNT PROSPECT, ILLINOIS FOR THE FISCAL YEAR BEGINNING
JANUARY 1, 2020 AND ENDING Iii 31, 2020
BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE
OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS:
Section 1: The President and Board of Trustees of the Village of Mount Prospect find as follows:
A. That pursuant to Village Ordinance No. 6090 adopted August 20, 2013 authorizing
the issuance of general obligation bonds for financing the construction of various
flood control projects throughout the village there was levied for the year 2020 the
sum of $923,306.00 for bond principal and interest payments.
B. That pursuant to Village Ordinance No. 6347 adopted November 7, 2017
authorizing the issuance of general obligation bonds for financing the costs of
cArtain capital projects in the Village, there was levied for the year 2020 the sum of
$299,368.76 for bond interest payments.
C., That pursuant to Village Ordinance No. 6347 adopted November 7, 2017
authorizing the issuance of general obligation bonds for financing the costs of
certain capital projects in the Village, there was levied for the year 2020 the sum of
$300,531.26 for bond principal and interest payments.
D. That pursuant to Village Ordinance No. 6385 adopted April 17, 2018 authorizing
the issuance of general obligation bonds for financing the costs of certain capital
projects in the Village, there was levied for the year 2020 the sum of $453,369.00
for bond interest payments.
E. That pursuant to Village Ordinance No. 6385 adopted April 17, 2018 authorizing
the issuance of general obligation bonds for financing the costs of certain capital
projects in the Village, there was levied for the year 2020 the sum of $309,750.00
for bond principal and interest payments.
That pursuant to Village Ordinance No. 6403 adopted September 4, 2018
authorizing the issuance of general obligation bonds for financing the construction
of Police and Fire HQ projects and refunding of certain bonds of the village there
was levied for the year 2020 the sum of $1,946,750.00 for bond interest payments.
G. That pursuant to Village Ordinance No. 6449 adopted April 16, 2019 authorizing
the issuance of general obligation bonds for financing the costs of certain capital
projects in the Village, there was levied for the year 2020 the sum of $577,800.00
for bond principal and interest payments.
H. That pursuant to Village Ordinance No. 6483 adopted October 15, 2019 authorizing
the issuance of general obligation bonds for financing the construction of various
capital projects with the TIF District of Prospect and Main of the Village of Mount
Prospect, there was levied for the year 2020 the sum of $265,350.00 for bond
principal and interest payments.
Section 2: It is hereby declared by the President and Board of Trustees of the Village of Mount
Prospect that the amount of $923,306 levied for G.O. Bond interest payments for the purpose of
funding the construction of various flood control projects throughout the village pursuant to
Ordinance No. 6090 be and the same is hereby abated in the amount of $923,306 being the entire
amount levied for such bond interest payment purposes for the fiscal year commencing January 1,
2020 and ending December 31, 2020.
"Se,etil'ail 3*- It is hereby declared by the President and Board of Trustees of the Village of Mount
Prospect that the amount of $299,368.76 levied for G.O. Bond interest payments for the purpose
of funding construction projects throughout the village pursuant to Ordinance No. 6347 be and the
same is hereby abated in the amount of $299,368.76 being the entire amount levied for such bond
interest payment purposes for the fiscal year commencing January 1, 2020 and ending December
31, 2020.
Section 4: It is hereby declared by the President and Board of Trustees of the Village of Mount
Prospect that the amount of $300,531.26 levied for G.O. Bond principal and interest payments for
the purpose of funding construction projects throughout the village pursuant to Ordinance No.
6347 be and the same is hereby abated in the amount of $300,531.26 being the entire amount levied
for such bond principal and interest payment purposes for the fiscal year commencing January 1,
2020 and ending December 31, 2020.
Se,U]""o,ti 5- It 'is hereby declared by the President and Board of Trustees of the Village of Mount
Prospect that the amount of $453,369.00 levied for G.O. Bond interest payments for the purpose
of funding construction projects throughout the village pursuant to Ordinance No. 6385 be and the
same is hereby abated in the amount of $453,369.00 being the entire amount levied for such bond
interest payment purposes for the fiscal year commencing January 1, 2020 and ending December
31, 2020.
Se-etion 6: It is hereby declared by the President and Board of Trustees of the Village of Mount
Prospect that the amount of $309,750 levied for G.O. Bond principal and interest payments for the
purpose of funding construction projects throughout the village pursuant to Ordinance No. 6385
be and the same is hereby abated in the amount of $309,750.00 being the entire amount levied for
such bond principal and interest payment purposes for the fiscal year commencing January 1, 2020
and ending December 31, 2020.
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Section 7: It is hereby declared by the President and Board of Trustees of the Village of Mount
Prospect that the amount of $1,946,750.00 levied forBond interest payments for the purpose
of funding construction projects throughout the village pursuant to Ordinance No. 6403 be and
hereby partially abated in the amount of $780,000.00 levied for such bond interest payment
purposes for the fiscal year commencing January 1, 2020 and ending December 31, 2020.
Section 8: It is hereby declared by the President and Board of Trustees of the Village of Mount
Prospect that the amount of $577,800.00 levied for G.O. Bond principal and interest payments for
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the purpose of funding construction projects throughout the village pursuant to Ordinance No.
6449 be and the same is hereby abated in the amount of $577,800 being the entire amount levied
for such bond principal and interest payment purposes for the fiscal year commencing January 1,
2019 and ending December 31, 2019.
Section 9: It is hereby declared by the President and Board of Trustees of the Village of Mount
Prospect that the amount of $265,350 levied for G.O. Bond principal and interest payment for the
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purpose of funding construction projects in the area of Prospect & Main TIF of the Village of
Mount Prospect pursuant to Ordinance No. 6483 be and the same is hereby abated in the amount
of $265,350 being the entire amount levied for such bond principal and interest payment purposes
for the fiscal year commencing January 1, 2020 and ending December 31, 2020.
Section 9: Village Ordinance Nos. 6090, 6347, 6385, 6403, 6449 and 6483 are hereby amended
with respect to the tax abatements declared herein and set forth in Sections Two through Eight of
this Ordinance.
Section 9: The Village Clerk of the Village of Mount Prospect is hereby authorized and directed
to file a certified copy of this Ordinance with the County Clerk of Cook County, Illinois within the
time speed by law.
Section 10: This Ordinance shall be in fail force and effect upon its passage, approval and
publication in pamphlet form and filing as provided by law.
AYES: Grossi, Hatzis, Hoefert, Rogers, Saccotelli, Zadel
ry
Arlene A. Juracek, Mayor
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Karen A,gor,anos, "''age Clerk