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HomeMy WebLinkAboutOrd 507 08/07/1956 Ordinance No. 5c-; 7 AN ORDINANCE for the sale and as signment of certain judgment liens for certain over -due and unpaid installments of certain special assessments held by the Village of Mount Prospect, Cook County I Illinoi s . * * * * * * * * * * BE IT ORDAINED by the President and Board of Trustees of the Village of Mount Prospect, Cook County, Illinois. WHEREAS, the Village of Mount Prospect is the holder and owner of certain judgment liens for certain respective installments of certain special assessments proceedings, which are liens against certain parcels of property, all of which is more particularly set out in the schedule hereinafter referred to; and WHEREAS, said liens are over-due and unpaid and have in many cases been forfeited for such non-payment; and WHEREAS, the collection of said liens by legal proceedings will necessitate the expenditure of a large amount of money by the Village of Mount Prospect; and WHEREAS, by reason of the provisions of statute now in force and effect, the Village of Mount Prospect as the holder and owner of said several liens is authorized to sell and assign the same; and WHEREAS, all of the bonds and interest thereon, interest coupons on the said bonds, and vouchers issued to defray all expenses in connection with the said proceedings have been heretofore paid in full and cancelled so that there are now no outstanding obligations of any nature whatsoever against the special assessment warrants of the Village of Mount Prospect herein involved; and WHEREAS, EDWIN L. BUSSE has proposed to purchase said respective liens on the Special Assessment Warrants hereinafter enumerated of the Village of Mount Prospect from the said Village, at one hundred per cent (1000/0) of the principal thereof, and has proposed to pay the said Village therefor, the sum of One Thousand Eighty One and 50/100 Dollars ($1081. 50), provided proper assignment thereof is executed to him; and WHEREAS, it is deemed by the President and Board of Trustees of the Village of Mount Prospect that such sale and assignment of said liens is for the best interests of said Village of Mount Prospect, and that there exists due and ample consideration therefor, and that such payment is fair, just and equitable, and that such proposition should be accepted and such sale and assignment consummated; NOW, THEREFORE, IT IS HEREB Y ORDAI NED AS FOLLOWS: Section 1. That said Village of Mount Prospect does hereby sell and assign to EDWIN L. BUSSE each and all of the several judgment liens for the several installments of the several special assessment proceedings against the several parcels of property descrl bed in the schedule shown in Section 5 hereof, it being a consideration of such sale and assignment that the said EDWIN L. BUSSE will, upon this Ordinance becoming effective, and concurrently with and in exchange for an instrument of assignment by the said Village of Mount Prospect to him, selling and assigning said liens, pay to the Village of Mount Prospect in cash, the sum of One Thousand Eighty One and 50/100 Dollars ($1081. 50). Section 2. The President of the Village of Mount Prospect and the Village Clerk are hereby authorized to execute an instrument of sale and assignment, assigning to said EDWIN L. BUSSE, the said several liens mentioned herein, and deliver said instrument of sale and assign- ment to him upon the payment by him to said Village of Mount Prospect of the said sum of One Thousand Eighty One and 50/100 Dollars ($1081. 50). Section 3. The sale and assignment of the several liens herein authorized shall be for the agreed price of one hundred per cent (1000/0) of the face amount of the judgment of confirmation of each of said respective liens, which said sum aggregating the amount of the purchase price aforesaid, when so received, shall be placed to the cred t of the said several installments of said several special assessment proceedings, upon the books of the said Village of Mount Prospect, showing such liens and installments, in full and complete satisfaction of said liens against said property. Section 4. This Ordinance is hereby adopted by the President and Board of Trustees of the Village of Mount Prospect in consideration of the immediate payment of the purchase price of said liens, and for the purpose of avoiding delay and expenditure required for the enforcement of the collection thereof by legal process. Section 5. The several liens for the several installments of the several special assessment proceedings against the certain properties effected thereby, which are hereby authorized to be sold and assigned, are particularly specified as follows: SCHEDULE SHOWING DESCRIPTION OF CERTAIN PROPER TIES IN THE VILLAGE OF MOUNT PROSPECT COOK COUNTY, ILLINOIS, AGAINST WmCH THE SPECIAL INSTALLMENTS SPECIFIED THEREIN OF THE RESPECTIVE SPECIAL ASSESSMENT PROCEEDINGS INDICATED ARE THE LIEN AND THE AMOUNT OF EACH AS SHOWN FROM THE JUDGMENT OF CONFIRMATION RESPECTIVELY. Block 11 in Busse IS &: Wille IS Resubdivision in Mount Prospect in the West half of Section 12, Township 41 North, Range 11, East of the Third Principal Meridian in Cook County, Illinois. Lot No. of Installment of such lien Respective No. of Assessment Proceed- ing constituting such lien Amount of Install- ment as shown by judgment of confirmation 10 6 15 $132.50 (ex. N. 7 15 $132.50 10 feet 8 15 $132.50 thereof) 9 15 $132.50 10 15 $132.50 $662.50 11 6 15 $ 83.80 (ex. N. 7 15 $ 83.80 10 feet 8 15 $ 83.80 thereof) 9 15 $ 83.80 10 15 $ 83.80 $419.00 Section 6. This ordinance shall be in full force and effect from and after its passage and approval according to law. this 7 t5 day of APPROVED: this / tt day of ~ I' \ I \ /l L A."j ~'-'2 1 .' [~./ ,......,..&1.7 7 [.,,1.--/' \. (i:C,& .u'- ~ Pre sident" '. "',.j IT '-fT , 1956. PASSED: , 1956. ATTEST: . 1 " . /) /,.~_/ 7'/' ,.(, . // ... '-~. ~iI~e< 8:;;;': ( t >'- .--.---- . AYES: /rtIJfte;,' Uj,.~- /1, (l I / /jlf~e;; d (' h Nil/ e. Y' ,I' / V. !/f/ / . ir (l}.v if:; ~/; NAYS: fjh~. ABSENT: ~4fR€ ,I }/1/ 'j /et- ASSIGNMENT KNOW ALL MEN BY THESE PRESENTS that the Village of Mount Prospect, a Municipal corporation, of the County of Cook and State of Illinois, in consideration of the payment to it by EDWIN L. BUSSE of the sum of One Thousand Eighty One and 50/100 Dollars ($1081. 50), the receipt of which is hereby acknowledged, does hereby sell, transfer and assign to EDWIN L. BUSSE each and all of the respective judgment liens for the lots, pieces and parcels of land described in a certain Ordinance duly passed and adopted by the President and Board of Trustees of the Village of Mount Prospect, on the 7!J.- day of August, A. D. 1956, entitled: "An Ordinance for the sale and as signment of certain judgment liens for certain over-due and unpaid installments of certain special assessments held by the Village of Mount Prospect, Cook County, Illinois". No. Sa 7 , and which said Ordinance is shown upon the records of the said Village of Mount Prospect, to which Ordinance reference is hereby made for a complete and detailed statement of the said several liens hereby sold and assigned, herewith granting to the said EDWIN L. BUSSE, full and complete rights of ownership over said several judgment liens, with the rights of cancellation thereof upon the books showing the same in the care and custody of the County Clerk of the said County of Cook and State of Illinois and with the rights of cancellation thereof upon the books showing the same in the care and custody of the Village Treasurer-Collector of the Village of Mount Prospect, Cook County, Illinois either in his own name or the name of the said Village of Mount Prospect. This instrument of assignment is ITa de in conformity with the terms of said Ordinance. IN WITNESS WHEREOF, the said Villageof Mount Prospect has caused this instrument to be executed under the hand of its President atte sted by the Village Clerk and under the corporate seal of said Village this /~ day of August, A.D. 1956. The undersigned EDWIN L. BUSSE, being the owner and holder of the above instrument of assignment, and of the several judgment liens therein mentioned and referred to, hereby- acknowledges the cancellation and satisfaction of this assignment and hereby authorized and directs the Village Treasurer of the Village of Mount Prospect, Cook County, Illinois to satisfy and cancel in full the said several judgment liens upon the Collector's warrant, which is in his custody and control. /" It Dated at Mount Prospect, Illinois the ( l~ day of August, 1956. ,. "'. ,- '!.' ~t~li/\rv~ JJ'1' 1.2/>>-.