HomeMy WebLinkAboutOrd 126 05/09/1928
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AI ORDINANOE AUTHORIZING AID DIRECTIHG THE ISSUANOE or BOlDS i
OF 'mE... . VILL,.l.GE 0.,.'..... JlOtJI.... T. PR.OSPEOT, COOK OOOl.....'1't.'. ILLIIOI!L TO THE. I
AXOttl! or SlVuu"nVE .HUIDtu:DDOLL.lRS ('7100.00) rOR 'filE PURPOSE 01'1
OST AIJ1IGM.OBEl' FOR mE PURORASE OF A. FlU TRI10lC AlP. THE aOISTRtJOT- I
101 Dr #1UI..10I 10 TBE' VILLAGE HU~ rOR TBEPURPOSE or RonSllO I
SUOB rIU '$iJQX~A1ID PROVIDIIG FOR THE C01.LIOT101 QrA DWO! ADUJ.Li
TAX FOR THE PAYMEIT OF THE PRIIOIPAL AID IN'l'EUS!OF SAID BOlDS. !
WHEREAS the Pres1.dent and Board of Tru.Btees of the Village of
KO\mt Prospect, OookOounty, Illinois"upon inveatiga:tion have
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de'termlned that 1 t :will be to the, beetin'ereat. of sald Village to
puzchase a fire truck and to provide for the hou,8inS of _.e; and,
WHEREAS said:President and Board of Trustsea bave d.tex-mined
t:baj in order topU:t'Qhase suoh fire truck and to p:r:o"lde 10'1: its
housing it will be necessary for said Village to borrow tb.. sum. of
SEVENTY rIVE HUNDRED DOLLARS ($7500.00) and to 1,su$ the negotiable
general obligation bonds of said Village in saldaao;unt;
NOW, THEREFORE, BE DDi 1" IS'BERE~Y eRDAI.II by ~eP'l:e.ldent
and B.oe.rdot Trust... of the Village of MOUSk' It,'spect, Oo_t Oounty,.
Il11nois%
i SEOTIOI 1. That tbe Village of Mount prospeot, Cook Couty,
'I I111n01.. p.achalle a tire truck aDd con.tract an .xhne1on 100 the
Village Hall for the purpose of housing such f1~e truck.
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I SEG,TICI 2. That for the purpose of P8.1itJ.g thecQst of $uch
I fire truck and illeconstruotion of an extens10n to the Village Hall
lin sa.id Village or Mount Pro~eot for the pu:pG.e of housing such
truok, tllere be borrGwed bY. for and. on behalf of the Village of
Mount Prospect, Cook Oounty, Illinois, the sum of Sj:VENTY FIVE
HUNDRED DOLLARS ($7500.00), and. that to evidence said. loa.n the
negotiable coupon bonds of said Village, to be designated 'FIRE
EQUIPMENT BOND", be issued; that said bonds be ten. in number,
I numb.red 1 to 10, both inclusive, numbers 1 to 5. .both inClUSive,
to be of the denomination of FIVE HurroRED DOLLARS (1500.00) eao.,
and numbers 6 to 10, both inclus1ve, to be of the denom.ination of
OlE THOUSAND DOLLARS ($1000.00) ea.ch; all to be dated lUlle 1,1938,
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and to beoome due and paya.ble in numerioal or4et, t500.00 on the
"'at 48.10% J\Ulein ea.ohof the years 1929 to 19Z3, bOlh inoluaive,
aJl4 t10QO.'OO on the 1st day of June in eaoh of th, 1'.ar. 1934 to
1938, both lll.olus.lve; that sald bonds bear lIrt.t.at at 1;h. ra~e
of five pereent (5%) per annum from date thereof untl1pald,
paya.b1esem-annual1Y on the first day of June at:I.d of Deeealo.r
in each 1.ar, whioh interest payments, to the da.te of maturil,
of the prinoipa1, shall beevldenced by properlntet..tcoupona
attached to 88.oh bond and maturing on thes."eral daY.her.1n
provided; t'hat pot.h prinoipal and interest on.aid bonds shall
be payable in la.flU money of the Un! ted states of luneriea. at
the office of the Village Treasuzer of the Villas. of Moant
Proflpect, Illtn01s; that th,aealot sa.ld Village ,."""bMto!
each of sa.idbonds t that aaldbonds be alp.db",_ Pr ~.14.p:t
of 8a1d Villageh site.tea. by the Villa.ge 01erk,andQo_~rs1gned
by the Villa.ge 'frea.euer'thereof; thatsa1dottlc,rsfl;re h.l'eby
.s:u.'thoriztdand directed so to sign, attest. Qoun:~e%'.ig~, ~d
execute said bonds for and in bella.lf of sa!d.,111apof M.OUllt
Pr08p80t, Oook Oounty, I.ll1nolsj that thes.'t'ElS'allntetee1 OQ".pons
a:ttaohed to ea.oh of sald bonds be signed, atteshd andoounter-
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signed by sald officia.ls, resp'o'ti"ely, by their )'.'e'1'.ot1'9'6 I
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fa.os1mile signatures, that said offioiale, r.s1'.o'''1'''.17 by the i
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execut10n ot sa,ld. bonda, shall adopt as ~t:l1 tor their own respeoti..!
proper sipatue their respective fa.osimile slgna.tves e:ppearln.g I
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upon eaoh 01's8014 ooupons and that ea.ch of aaid b'.d.. and interest I
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ooupon8b6 payable to bear.r.. provided, hQw~,.r, t1l1&t sa.i.d bonds
sha.ll be $Ul:>3ect to registration &8 to prlnC)~pa1 in the na.me of
the holder on the books of the Village Trea,lU+e:r.,Q.oh registration
to be evidenced by notation of said Village Iff"a..,",r upon the
baok ot each suoh bond so registered; and affuU:suoh tegistration
pa.yment of the prinoipal thereof shall be made only to the
~o
r.gl.~.r.4 'held.x, OX' '0 h18 duly a.ppoint.d lqal "pr...nt..t1:"..
'.' bod 10 reglstere4 ahall. be 8l1hj'Ot to traaafe:r. e_.ptupoa
nOh_oki an4 81m11aJl, not.d. upon the back ofItlChb01)lcl. 'tlAl.l.
the 1..., r'll"J:at1on thereof shall hay. been t. bearer. boh
registration of MY bond Ghall not, ho..ver, elfec' 1).. ...pt1..b11-
1', of t"coupons th.reto .."ach.d, but suoh oOllPtulb.all COl1-
tlau. traxuaferabl. by d.liYery .rely.
BIOTIOI 3.' Thateaoh of said bonds, 1nte'eet oouPons
thereto atta.ohed, &.nd form torreg1stre:tlona8 to owners", be 1n
$\tlurtantlally tne following tor1l8:
(FORM or BOlD)
lmDER
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UNITED STATES or AMERIOA
STATE OF ILLINOIS
eOUlftT OJ' 0001.
VILLAGE or Koun PROSlSOT
FIRE' IQ.UIPJ!EIT JOlt>
\ti
Th11l>.ond leone "f azl. ~~"horl.... lsf'leof........fftU
IfIQUD H.L~BS(t154.1O.00). III 01 'lib., ..... t'..1'aacl.tt..~,. ~
o."........~\U:~~,Qd 4.a~_$~o.l ~4 l-~._ 'W'i.ld:d. '111..,.
lo:rtb..,.,... i.' P'8.71-, tbj... ,.., O%~o..S_ a',lre ~t.4
co".truo';"." '..~'''*o. 1011l,Vl11apJlal1 Ht.~~.~'~. .t
_1.1.4 tn(fl,.' JUI.........O and 'UaCl..:r.l1:t.la~'ti.n".,fi q' ..llO':t.' ol""the
Q-!fal .......1.7 .~the a....t. otI.ll'a()1"U':$.i4"~,~...,.J,
p. .-. o. 1'l.. 1M........'.. . f.. .... .~. _. . '1... u... ..t~o:tat. 1t. ot.. O. 1. i.i..... '..aDA... 1'1~...1..........." , ....Q.... '. ....
4Pr*l. lQ,. ~7~."'d all act.. ....dattt:rtll..;r,.t .~pl <ttr7
"h'~.'OI"."Q4~.~t \'0 and 1n ()~nfo~.ltl"l".,. 'Of. ...... .......... ..... .'.t
-..14. ''1-1.1.... 01 'Ilou.nt Pro.,.."., 4ul'1 u~ P'.'.'~7P....j.1J,;jQ.
P"',St4.,.t . ~cl BO$.l"dol rru8'.'~ ih.reof'l app.."",. p1l1>1..."
&.~ulz.4b'. l..,&n<t &\1ba~~'.dt08l1d apPt""td.bra .'ff.l't,
of . 'iile 'y..,_~'of..a14 Villa... vO'lni &1 an. eldt.'J,t.4ul,oalIed
a>>4. h.ItS. fo:riha.t J)UJipose Of! 1.., ...ad day o~l\.ta., 11'8,
. AID .IT . IS. HIUSY OERTli'xm> UD .RIQ:t'1'Q'ba.' 11 ~,...,.
troll .Ille .:f'Of>88. ()fsald Village. .that allao'a.. .e.#.'lo..
and~hltli. ..QUS,D4 by 'he 0..8"11;ut10.._4 t... 01....."....
0'1' 11.11"1'1'0 01... 01'to 1>. done })J.~""'8A4J...'
188U8.aQ. '.ot $hi' _.4 and. or ,b.. 1...., ol..leh~;t . if'",:". 'I%'t,
do "1.' .a;ad.. ha.. bien p:rOP.l'ly 40u" ~_d.d<< lla"'. .....
.~lJl~.&14af_d. 4u .'QrJa and.l....'l".Dl"..'WlUJ
'-''''A' .'. *.tal. u..b*.cSa..~ .f 8a14. Vl11.... iaol\'at1Jl.s 61.'ond,
4..........'.....'....0...>..............'... .........<U1'R. 1. ~.t..1J. .nal............ ". 'r......... l..jl1.tO~1.1t14..>'...'..;t....._.l.........
ud. ,......'..,..l..Jt.aabeen..... tOJ: ".he ooll.oli~.tt alb..t
~.~..lt... 1. ...~'loah &110....% .~..... -.11..1 .......-ole
p:rope,'t,. 1..al4':s.11.ldt!Ql.nttopaF.'~....'...t;b."._
as_. .... ..,.........,.daJ..$O to P$.' .U44180". '9
prtulpilber-..'atma;ktrl ""
!BlS....,.I.....O....ID. ......... 1.. ..............3.....'.... t9.....rei18t.'....... '.".10.~ a..8.' \0. .."i1J,Q.... ~'P.......a.. ..........1.... "-he
.... of th...ld.~ oathe bOot8&f '~."141. ...' . .......'11 '.ai.4
Vl11J.,;~h'.I1~*'..iloa '.'be ...14..~_, ),\~il.,."i*ll4
Vl1~'_.......a ,~. .aClkh.~fOf .~-.I"'. .1t
no '.l..~'..~,..t. _xoep' ....... .'1UCl \100kl._~
Jl..t~ \)'~~d., Ull1... 'he la.),~;,. .,';.
b._"..,.......~. '....'1.1..11_..0f. '1'l1$ .DOM.....: .;.110'.. ",
... ..:$-11.1,.,.., O.~...,h.'r.'o,.tia.~.,lli...., '.,
ftt ....tall3:. Of'de1.11".., meh11, not..i ths:taacllng::rellt'...
11 WI'1fIS~ DEUO" tAt .8a1d Villqe~fld~"tO."4~.'bl
it.. pr., . ._4 aoardot.~~l.'S h.. c~"IU...9~:.'''tQ,
to bel\L.. .' ..' ~f,l~'d.,ent1 tbJ..'Dond too. .1..\l'..'...t..n.~~..a't,
0._.... _..... ~..l.. ..W.'. .y...... '4br. "..' 'li... V.....1.1. ,1.... .!...b.... ...........lU'.. '.1". '..... ."ud.. ...... :.$,'.:' . '._. ...... ..... ,.'1... i~,+.aa'
Cl.,..k ,'..-'h.COtlP.D.~ht. at:'ta.Qh,(l .t.0'9.8'1'.. '.' ..pe4'
_..,..t.:t.d.'~~..14~ff.cu.~.r.ap..Ji;~.:tl ~'" .~...
fa..latle'~Q1.'faDd ..a~d. c>f:flcer840!' .~ .1l-" . ..........
~.t..of,.'. .. . ".,. ;....'$ir.belJ'o.f1.r..,."~. ~..: ....
th<el):r....l..t...IJll1. .i,~'\U'.&pPA:6q ;_.. .....n.,
all U o"''Ih. fir.telay .ofJ8e, A.'D.1J..
'rels.I.,; ,.111.....1 '10;&'"'1"0'''
])eO~. '1'111n018.
COUI'TERSIGIED:
ATTEST:
.,.,..,..
Villas_ fre8.8\\t",'Vll:Lqeot
140.t Pre....ot, X1Ii.not8-
V111a8,'Cle~k. Villase of
B()'IW'ttP-:eap.ot,.. IllinoIs.
,
(FORM OF COUPONt
10 .ON THE FIRST DAY OJ t
~t~g~BER 19 .
THE. VILLAGE or MOUlT PROSlIOT
'f
In.. th. .. oouty. of' Cook and st~te of 1111:nO~S.. ". ~l.l.P", 'C) tl\e."........ ;u.,
, .'... ... . . DOLLARS. a.i the Qt~10' o~'1\.. tllf".
Tr.... tnU'e:r 01 ili. Vll. iage ot l(ouniPro8pec. i.tl11l..t*1.t.x.ta
lion,", t " lnt._re,1; till. that day on 1 t8 FlU ~Q111'Qft5G", 4....4
.ra_ 1st. 1928, 10. .
pre.1d..at, V1Uaseo'l JlOlI.it,Prospeet.
11111101..
COUITERSIGIED:
Vl1la" !:r...~.tt v{11... of xount-
ProspeOl, Illln01s. .
A'I'TEST:
mlaP..o1.~t'mt..t
KODi Pro'Ptol.Il11aot...
(rm rOR RE~ISrRATIol OFOWNERSHXP)
This boad l'laf b. reglst.,e4 as 10p1'1nclpal 1n the nUl' of
the ll.l~r or owner and faot. o.f such reghr;ratlon be noi.d Oil
th18 bond and on the book. of t)).e Vll1ageTr..awtl'. .fi"8\1oh
reg.letl'a:tlon 'the prinCiPal.. . h.er.O! 1. payable. to....... 1'"..".'1... ".r."
holte,; 0111y or to hi. duly appointed 1..galrepJ>......t.l"..
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S,EOfIOI 4. Said 'bonds shall 'be 8014 by the Baud of Tnu",ees
of aaid Village; pro1'14ed, how....er, thaip.o oono.o,1' Donds.hall
be delivered as afore.ald, until a. sum of money nQt les8 than
the prinoipal and ~he ac'rued 1nttresttnereonshall bave ....
'~'."r
actually paid therefor. and provided that the proee,ds of said
bonds ahall be.u..a. only for the purpose. atoresald.
$IOTIOi S. That. tor the PUJPose of providing the funds
r8qu",,4 to. pa.y the i.t,.r.~t on said bond~ promptly when and as
the .... tal;ledlle. and 'to P8l pd di.charse. the prtnclpal'he:reot
a.t _1\'lrl:i,. ~her' be and there 1s hereby lev1ed upon all \ht
tuabl, proP''''Y within.aid Villac.. In eaoh Of the 1'-';- _hile
$aldbo~, 01' .Jo! them ar. ol+tstand1.ng, a di,eot anl1ual tax
8u1'1101.ent tor ;bat p~p(niJ'" a.nd that t~ef. be artd. thel.i.
hereb.y 1e1'le4 on &11 Of the .uable property 1n sa1d Village t
1n addition to all oth~r ~ax'.t a tax suffioient'. prodUCe the
foll.wiag.ums In the fOllow$.ng reus. to-.i..:
ror ithe ye.a.: 192~lt ~. ~" $uff10ient toprod~.. the. .....
01$1050.00, . be,lng 118T- 50 to rei.but.. D... p.e..al 'F\U1d
of 'e.1~ Vl111ll.g1 in a. :l4ke amcWl.t a,4VPQ'4i. P"'<~'
in,... r.".... maiu.... in.g D.eo_.. ... b. e..r.. ...11.. I.sa!...l...... aJld '1. .8".501"0'.~'
1nt$:." _turi.n,. JuQ 1.19~9t."O..OQfOJP,rl~lpal
due June l) liaS .alldt175.00 fQr 'lntel'fult 1Ila.tui"1Jl,g
Deoentb..r 1. 1929t .
ror the year 1929, th, sum of t~..oo te; p:rln.olpal.
matur1ne;June.1, 19.301 the swn of. t175.09 r",r In''1'..t
m_t.rlngJunl 1" ;1.9$0". ~ the, ..IWI1" .ott1.Ia!lOfG'Z lnt-
.:rail" _t1U"ln.IDeo,e.~...l;, 1930~'
l'o.:r...irht.... '. ........u.... 1_.$0 i"'...... t. n.. "-.., ot......50........ 0._.0..' c,. '.f.' 0.".'
."")lX1D1 ..:r.1 1. ..S)31, the awn. .,t $1611
u~."'. ..J~. 1 t 1831.,. and \ll~l'~ of jI .
e~"4':;,,''Ulas DeQ...;r 1, 19:114
ror... 'he ,:.:p19. 3.. ;L.1. i.b...... 8.U18 of .$600.00 fO......~.. ."..:..:"S.~nQ.'. p......~
l1a_1., J"W1.. 1.' li3~J the sum. of .150.,00 Joe .1.".:t..t
ma.l'CU:1D8JlPl." It 1932,. aad theewn pftl:Z'~50 torlllt-
et..t ma.t'lU'lng December I. 1932.
rot '~y,.a.:r 1932 .'U1e .q of $500.00 tot prino~pal
ms:t\n'll1BJune 1.i9ZI~. ~h. Sl118 of $11'. 50 "o~iJ1~.:r.."
ila.~it$g June 1, 1933, a.nd ihe suot tll$.OOtor 1111....
erest ll1Ittl1rlng neloe~b'l' 1, 1933;
'o~ the year 1933" tn. .~ of .19~0.00 for,p:rtnclpal
llatv.rlnglUXlI 1, 1934. tbesu Qf'$125.00 for l'4ie>>e.'
.tu:rlqJUJ1Ut 1, 1934,. ~ 'the. IU of 1100.00 for 1nt..
e:re.t maturlng Decem}),r It 1934.
'>.~n..P&1
1....f:..'
,f.rlat....
.,.o....~. the 7.......,%.19......341.. ~bt.. '1._. of... .10001....0. O....PJ'~:O'Q1Pa1.
_~ ,J.el,t$I. the..of .100,00. '..i.ierest
.... ..1"'1.1t"~a- 1).. .a 0'1 .'S..OOfo:r i.'e1l''''''
..taalUlas nec,..,i, 1131J
. . ,
'.0. r.......... '...._... ,.p......... 19...3..'61. <. tilt....... ....... _.'.' of IlJ..OOQ..'.... ,00.' '.' tOI.. p. :ft... 110.'. t....p.. at.. ...... .'
~.,._ ,.. 1. ,1.'.1 -.11... of "1.00 lo~lat.''''.
.'v*'l ,,.. :1,1__. ead.,:ta....Q' .10," to", int,,,..
..,aati3tt..,Deo...X"lt 193a.
r..J,.......... '.'... '..,_........... '..'. ....._.....%....193..1.'......1\.<... ..... o.t .1QQ.C..C>...O.........f.O.",.'. r......... ,~:)t1....
.~,~J;M .,.. ':1.. . 1.1$', ft. 1_' of I"..ft:ru,.n.'"
............... .....'.'. . .,."....,.1, 1_1'. ""'." ... the ....o.t 135,00 to'l
l.t,.'ft. .a.hrlas Deo..",: 1, 193'1"
,.:r'..._........ '1.... "tZ. 193'11'. tho .... flUlI.' of .10.... OO.()O .t.f.p~ln...lp. tJ.,
ma_~BlJlIn' 1, ].9$$. "be lum of .~!, 00 I.X' i1l:""""
..,..1~ ,... 1, ItSI
that the iateres' $..iurlng December 1, 19a5, and the lntere.'t
or the ,'rine1pal cond.ng due..t any tinte Wlien the:. ar.lnsuttloieni
fu'ads OJ). baad. to pay the spe.. be paldpromp'tly ,.he'n 4:"'0 fro.
9urreo'\ fu.n~. on hand in advanoement of 1h$0(1).eot'5;0. ofiaXel,
,
and wh.n'~d. tu.. her$by levied, shall have be'l'!. o,,11ec.td,
r.i.bU.:.r....:pi ahall be mad.e to the said. f'l1ft;ds 1n .. __'a "hus
adTanc.4.
SIO'TXOI 6. Tha'\ 10J."Uwith upon tbe appro'lfuelih18
ordinanOe by a. Q.jorlty of tke yote1.'8 of .a1d Village votlq
at an .1eCltUm to "$ 0$.l184 and hel4- forr th.t P~O"r a ..%~lfle4
cop, 11..001., whleh certlfloatlon' .hall 'reel te tut th:1..8a14
ordlnan..hU been pas... by ill.. Pre.1dent aAdlO~40t Tn"teea
lit:
v
of laid Villas., appro..4'o1 the P%e.14~ult S.Dt 1>.11.)1,4&1
requl1tedllJl1..w en appr'o'f'ed b7 a. ma.J~lty of ~he lepI 'fottura
of '8.1I:\'111age yoting' 8.1 anelec,S,.. oal18d10'l"11a1 pU%))O$',
Oall be 111.&d. ..i t.b.\he OOUJ1ty 01erkof oook aount" I 111 nQl.aj
and it.hall be the du.ty of .u.eh COlmty ..k~11J in autd.
for eaob. of the yea,rs 1938 it. 1'3'_ both 1n01..11'&, to asoertain
the rat. p$:roent required. to produce ibe aggregate tax heJ'eitt-
before proyld.d to be levied fot eaoh of said 1~us.re8pectlY.1y;
and sat d Qlerk shall extend the same for oollection upon the tax
books in connection with and in addition to the 01h8% ,~.. lev1.4
".~
in and t()~ each of sald. years, respectivell. forgene:ral corpo:rate
pUpoee. of sai4 Village _ and in ...oh of sa.id yeus $u.b 'an.ntlal tax
shall a.extend.ed and colleoted for sa1d Village In like -.um..~
.atUes for g.ne:ral oorpota:te purpose. foJ' .~oh of saird. yeU'. ar.
,
extended 'and-collectedj and,when. oolleQte4..~ ,~. shall be
u..4 only tor thepurpoa,. of paylngp1:'lnc1.palot ~4 l:tttere"rtoll
.ald Goad. h.r.ln_t.bo~lJed.hen anda8 .... aatlQ'. and 8"'011
tunA. 80 reoeived trom SUQhtax shall beheld. &pal" t1'01l.1116. other
fun4..of aald f111age and _hall o()nstltute.8, 1:tUl f\radfor tbe
above purp.ose.
SIOT.10J 7. That all ordlnanoes.ree.lutlonl and oretera, or
put. thereof. in conflict with the proTte!oa. of this oH1nanee
be and 'he sameua hereby ~,,'aled.
1101'101 8. That this ord.:laano..hall be in t.~4e and.tfeet
taed:l.ately \!pOll It, pa,8Iage, apJ);roval and ptl.blloa,'10I1, U
p~o.ld.d. D1 law.
Pa..ed thi."h liay of Ma.y. A.D.192e.
~---F0: - --
v1ilqe 'bl.C~~~~t
P;rculpe'ot .11'118011.
Appt...d thi. 9th day of 1(a1 ,A. :0.1938.
2:JJ" ~
ll. ......... .' '. ......
';r....~... o. · ..,
Proap.e', fl1inol..
Ay.. ,~
1.1'., 0
PublishedKa.., ( -0 1928.
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