HomeMy WebLinkAboutOrd 1121 12/20/1965
ORDINANCE NO. 1121
AN ORDINANCE APPROVING A RESOLUTION OF THE BOARD OF
LIBRARY DIRECTORS OF THE VILLAGE OF MOUNT PROSPECT
WITH RESPECT TO THE PURCHASE OF CERTAIN REAL ESTATE
WHEREAS, The Board of Library Directors of the Village of
ount Prospect have determined to purchase a site for use by the public
ibrary of the Village of Mount Prospect, and
WHEREAS, The Board of Library Directors of the Village of
ount Prospect have caused an estimate of the cost of purchasing such site
i 0 be made, and
WHEREAS, The Board of Library Directors of the Villape of
ount Prospect have determined to spread the cost of purchasing such site over
five year period, and
WHEREAS, The Board of Library Directors of the Village of
ount Prospect sas transmitted to the President and Board of Trustees of
. he said Village its Resolution No. 1965, passed and approved December
, 1965, a certified copy of which is attached hereto as Exhibit 1, and
hich is by this reference made a part hereof, with respect to the purchase
f the site described therein for a consideration of $33,500.00, payable
6,000.00 on the execution of a contract to purchase the said property and
he balance of 17,500.00 at a rate of $3,500.00 per annum, commencing
n September 1, 1966, with interest at 3-1/2 per cent per annum, and
WHEREAS, The President and Board of Trustees of the Village of
ount Prospect save reviewed the aforesaid Resolution of the said Board
f Library Directors and are of the opinion that the site proposed to
e purchased is needed to provide additional necessary land for the pub-
ic library of the Village of Mount Pvospect as a site for future expansion of
he library building, and
WHEREAS, The President and Board of Trustees has deterrr.ined that
onds shall not be issued for the cost of acquiring such site;
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD
~F TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, ILLINOIS:
II SECTION ONE: That the purchase of the above-described property
y the Board of Library Directors of the Village of Mount Pwospect on
he terms and conditions set forth in a certain Resolution No. 1965 of
. he said Board of Library Directors, passed and approved December 8, 1965,
ereinabove referred to as Exhibit 1, to this Ordinance be, and the same is
ereby, approved.
SECTION TWO: This ordinance shall be in full force and effect
rom and after its passage and approval in the manner provided by law.
AYES: 6
II NAYS: 0
~ASSED AND APPROVED THIS 20th day of December,
II
~TTEST: