HomeMy WebLinkAboutOrd 320 01/10/1950
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AN ORDINANCE FOR THE SALE AND
ASSIGNMENT OF CERTAIN HUDGMENT
LIENS FOR CERTAIN OVER-DUE AND
UNPAID INSTALLMENTS OF CERTAIN
SPECIAL ASSESSMENTS HELD BY THE
VILLAGE OF MOUNT PROSPECT, COOK
COUNTY, ILLINOIS.
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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 here-
inafter 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 con-
nection 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, JAMES R. O'LEARY has proposed to purchase said respect-
ive liens on the Special Assessment Warrants hereinafter enumerated of the
Village of Mount Prospect from the said Village, at one hundred per cent
(lO~) of the principal thereof, and has proposed to pay the said Vill ge
therefor, the sum of Eight Hundred Ninety Three Dollars and Twenty Five
Cents ($893.25), provided proper assignment thereof is executed to him; and
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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 1 THEREFORE 1 IT IS HEREBY ORDAINED AS FOLLOWS:
SECTION 1. The said Village of Mount Prospect do hereby sell
and assign to JAMES R. OILEARY each and all of the several judgment liens
for the several installments of the several special assessment proceedings
against the several parcels of property described in the schedule shown
in Section 3 hereof, it being a consideration of such sale and assignment
that the said JAMES R. O'LEARY 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 Eight Hundred
Ninety Three Dollars and Twenty Five Cents ($893.25).
SECTION 2. The President of the Village of Mount Prospect and
the J\~L I .''( Clerk are hereby authorized to execute an instrument of sale
and assignment, assigning to said JAMES R. O'LEARY, the said several
liens mentioned herein, and deliver said instrument of sale and assign-
ment to il.im upon the payment by him to said Village of Mount Prospect of the
said sum of Eight Hundred Ninety Three Dollars and Twenty Five Cents
($893.25) .
SECTION 3. The sale and assignment of the several liens
herein authorized shall be for the agreed price of one hundred per cent
(~O~) of the face amount of the judgment of confirmation of each of
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chase price aforesaid, when so received, shall be placed to the credit
of the said several installments of said several special assessment pro-
ceedings, 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 the Board of Trustees of the Village of Mount Prospect in considera-
tion of the immediate payment of the purchase price of said liens, and
for the purpose of avoiding delay and expenditure required for the en-
forcement of the collection thereof by legal process.
SECTION 5. The several liens for the several installments of
the several special assessment proceedingl against the certain properties
affected thereby, which are hereby authorized to be sold and assigned, are
particularly specified as follows:
SCHEDULE SHOWING DESCRIPTION OF CERTAIN
PROPERTIES IN THE VILLAGE OF MOUNT PROSPECT,
COOK COUNTY I ILLINOIS I AGAINST WHICH THE
SPECIAL INSTALLMENTS SPECIFIED THEREIN OF
THE RESPECTIVE SPECIAL ASSESSMENT PROCEED-
INGS INDICATED ARE THE LIEN AND THE AMOUNT
OF EACH AS SHOWN FROM THE JUDGMENT OF CON-
FIRMATIoN RESPECTIVELY.
(SUbdiVision Description)
Respective
No. of No. of
Install- Assessment Amount of
ment of Proceeding Installment as shown
Description of lots sub- such constituting by judgment of Con-
ject to respective liens lien such lien firmation
Lot 1 in John Meyn's 6 15 $ 48.32
Subdivision of part of 7 15 48.32
Block 16 of Mount Pros- 8 15 48.32
pect in the West half of 9 15 48.32
Section 12, Township 41 10 15 48.~2
North, Range II, East of $241. 0
the 3rd PrinCipal Merid-
ian, Cook County, Illinois
Lot 3 in John Meyn's 6 15 $ 60.64
Subdivision of part of 7 15 60.64
Block 16 of Mount Pros- 8 15 60.64
pect in the West half of 9 15 60.64
Section 12, Township 41 10 15 60.64
North, Range II, East of $303.20
the 3rd Principal Merid-
ian, Cook County, Illinois
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Description of lots sub-
ject to respective liens
No. of
Install-
ment of
such lien
Respective
No. of
Assessment
Proceeding
constituting
'such lien
Amount of
Installment as shown
by judgment of Con-
firmation
Lot 4 in John Meun IS
Subdivision of part of
Block 16 of Mount Pros-
pect in the West half of
Section 12, Township 41
North, Range 11, East of
the 3rd Principal Merid-
ian, Cook County, Illinois
6
7
8
9
10
15
15
15
15
15
$ 69.69
69.69
69.69
69.69
69.69
"1 348.45
"1 893.25 ' .
SECTION 6. This Ordinance shall be in full force and effect
from and after its passage and approval, according to law.
APPROVED: this
I 0 'tt day of
/0 1,; day of
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President
ot,nqqrv , 1950.
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cIoHvt:lrft , 1950.
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Passed: this
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ABSENT:
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S'fA'fE OF ILLINOIS
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COUNTY OF COOK
CERTIFICATE OF CLERK_
I, ROBERT F. Mn..LIGAN, the duly q,ualified and acting Village
Clerk of the Village of Mount Prospect, in Cook County, Illinois, and the
custodian of the official seal of said Village and the keeper of the records
and journal of proceedings of said Village:
DO HEREBY CERTIFY that the attached II An Ordinance for the Sale
and Assignment of Certain Judgment liens for certain over-due and unpaid in-
stallments of certain special assessments held by the Village of Mount Pros-
pect, Cook County, Illinois" is a true and correct copy of an Ordinance passed
by the President and Board of Trustees of the Village of Mount Prospect, Cook
County, Illinois, at a meeting held on the 10 YJ day of r:!Qnuqrr ' A. D.
1950.
IN WIT:NESS WHEREOF, I have hereunto affixed my hand and affixed
the official seal of
1Z
the II day of
the Village of Mount Prospect, Cook County, Illinois, on
oIqnt.lor., , A.D. 1950.
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STATE OF ILLINOIS
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COUNTY OF COOK
CERTIFICATE OF TREASURER
l,D. L. GILBERT, the duly qualified and acting Treasurer of
the Village of Mount Prospect, in Cook County, Illinois:
DO HEREBY CERTIFY that in connection with the Village of Mount
Prospect special assessments Nos. 15 all of the bonds and interest coupons
thereon, and interest thereon, and vouchers issu4d to defray all expenses
in connection with 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 assessments warrants of the Village of
Mount Prospect hereinabove enumerated.
WITNESS my hand and seal this JJ!!:. day of
r:/?t!(j"i '/ , A. D.
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195V.
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Trea.surer, age of Mount Prospect