HomeMy WebLinkAboutOrd 294 10/21/1948
Ff'.1:0* AGH
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10/21/48
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L-' '7
AN ORDINANCE FOR THE SALE AND
ASSIGNMENT OF CERTAIN .TITDGMFNT
LIENS FOR CERTAIN OVER-DUE AND
lmPATP TNSTA~LMENTS OF CERTAIN
SPECIAL ASSESSMENTS FWI,D BY THE
VILLAGE OF MOrTNT PROSPECT, COOK
COUNTY, ItLIN0IS.
******
BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRtTETEES
OF THE VILLAGE OF ~OtmT PPORPFCT, COOK COlTNTY, ILLINOIS.
WHEREAS, the Village of MO'lnt Prospect. is t.he holder
and own"r of cf"rtatn~11!"1vnent liens fo!' ~ertajYl T'Osnp('t.t'l'Tp in-
stallments of certain ~npci.Al assessments -proceedings, which
arE' liens agalnst certain parcels of property, all of which is
more particularly set out jn thp s('hennle herplnafter referred
to; and
WHEREAS. said liens are over-due and unpaid and have
in many cases been forfeited for S1lCh n0n-payment; and
WHEREAS, the collection of said liens by legal proceed-
ings will necessit.ate the expenditure of a large amount of money
by the Village of Mount Prospect; and
Wtlf,REAS, by reason of the provisions of statute now in
force and ef~ect, the Villa~e of MOlUlt. Prospect as the holder
and owner of sajn several Ii-ens ls authorized to sell and assign
the same; and
WHEREAS, all of the bonds and interest the~eon, int~r-
est coupons on the said bonns, a.n0 vouchers 1.SS11P!"I +0 aefray
all expenses in connection witb 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 M01mt Prospect
herein involved; and
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WHEREAS!. JAMES R. O'LEARY, has proposed to pnrchase
said respective liens on the Sne~ial Assessment Warrants here-
inafter enumerated of the Vi.lla(!e of Mount Prospect. from. the
satd Vtltage, at one hundred per cent (100%) of the pri.ncipal
th'2:reof', and has p'!'oposed to pay t.he said Village therefor, the
sum of Five Hundred Dollars and Fort~T Cents ($500.40), provided
proper asstgnment thereof "!s executr.>d t.o him; and
WHEFEAS, it i~ deemed by the President and Board of
Trustees of the Village of MOlUlt Prospect that such sale and
a~si1:nment of satd liens i:" for the best interest~ of ~aln
Village of Mount Prospect., and that there extsts due and ample
consideration therefor, and that silch payment is fair, ju.st and
equotable, and that such proposltion Sh01hld be accepted and s11ch
sale and assign.YJlent consummated;
NOW, THEREFORE, IT IS HEREBY ORDAINED AS FOLLOWS:
SECTION 1. The said Village of Mount Pro:o:,ect do hr:reby
sell and assien to .T.AMES R. O'LEARY each and all of the several
judgment lienr. for the several installments of the several 8"Oe-
cial assessment proceedings against the several parcels of
property described in the schedule shown in Section 3 hereof, it.
being a col),sideration of such sale and a.ssignment that the said
JAMES R. O'LEARY will, upon this Ordinance becoming effective,
and concurrently with :olnd in exchange for an instrument of
assign.'!lent by the said Villa.ge of Mount Prospect to htm, selling
and assigning said liens, pa.y to the Village of Mo'mt. P!'ospe~t,
I
in cash, the sum of F:i.ve Hundred Dollars and Forty Cents (~5do.40)
SECTION 2. The President of the Village of Mount Pros-
pect and the Acting Clerk are hereby 81lthorized to execute an
instrmnent of sale and assignment, assigning to said JAMES P.
O'LEARY, the said several liens mentioned herein, and deliver
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said instrttment of sale and assignment to him upon the payment
by him to said Village of Mount Prospect of the said sum of
Five Hundred Dollars and Forty Cent~ ($500.40).
I' SECTION 3. The sale and ~lssignment of the several liens'
herein authorized shall be for the agreed price of one hundred
per cent (100%) of the face amount of the judgment of confirwa-
tion of each of said respective liens, which said sum aggrega.t-
ing the amotmt of the purchase price afores8ic, when so received,
shall be pJaced to the credit of the said several installments
of said several special asse,ssment procE'E'd~_ngs, upon the books
of the safa Village of Monnt Prospect, showing such liens 8.nd
in~tallme!')ts, in full and complete satisfactcbon of said liens
against saia property.
SECTION~ This Ordinance is hereby adopted by the
President emd the Board of Trustees of the Village of Mount Pros-
peet in con siderati(ln of the immediate pay,ent of the purchase
price of said liens, and for the purpose of avoiding delay and
expenditure required for the enforcememt of the collection
thereof by legal process.
pECTION 5.
The several liens for the several instal1-
ments of the several special a.ssessment proceedings against the
certain properties affected thereby, which a.re hereby authorized
to be sold and assigned, are particularly specified as follows:
SCHEDUL~ SHOWING DESCRIPTIDON OF CERTAIN
PROPERTIES IN THE VILLAGE OF MOUNT PROS-
PECT, COOK COUNTY, ILLINOIS, AGAINST WHICH
THE SPECIAL INSTALLMENTS SPECIFIED TBrERPIN
OF THE RESPECTIVE SPECIAL ASSESSMENT PRO-
CEEDINGS INDICATED ARE THE LIEN AND THE
AMOUNT OF EACH AS SHOVVN FROM T~ JUI:GMFNT
OF CONFIBMATION RESPECTJV~LY.
(Subdivision Description)
, Descripti.on of lots sub-
I ject to respective liens
I
Lot 8 in Block 4 in
Busse & Willets resubdi-
vision in Mount Prospect
being in the West half
of Section 12, Township
41 North, Range 11, East
of the Third Principal
Meridian, Cook County,
Illinois.
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No. of
Install-
ment of
such
lien
Respective
No. of
Assessment
Proceeding
constituting
such lJen
Amount of
Installment
as shown by
judgment. of
Confirmatio[1
3 15 $ 62.55
4 15 62.55
5 15 62.55
6 15 62.55
7 15 62.55
8 15 62.55
9 15 62.55
10 15 62.55
$500.~.O
SECTIpN 6.
This Ordinance shall be in full force and
ef~ect from and after its passage and approval, according to
S'~
this ~ '-_ day of OctOber, 1948.
this~( ~ day of October, 1948.
-' '\
law.
Passed:
APPROVED:
ATTEST:
~k~
AYES:
-r;:""J' 1E. es :
/3t:l y 1/ e
13y<lQ /
Harfw'J
/..Qms
M(Jft
NAYS:
-rY-fItr te e :
-
Welsh
ABSFNT:
IV one
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President