HomeMy WebLinkAboutRes 42-85 08/06/1985
RESOLUTION NO.
42-85
A RESOLUTION TO DETERMINE THE AMOUNTS OF MONEY ESTIMATED TO
BE NECESSARY TO BE RAISED BY TAXATION BY THE VILLAGE OF
MOUNT PROSPECT UPON THE TAXABLE PROPERTY WITHIN THE VILLAGE
FOR THE YEAR COMMENCING MAY 1, 1985 AND ENDING APRIL 30, 1986.
WHEREAS, pursuant to Public Act 82-102 there has been enacted into law,
effective July 29, 1981, certain legislation entitled liThe Truth in Taxation Act",
as amended; and
WHEREAS, pursuant to said Act any taxing body which proposes to adopt a tax
levy in an aggregate amount of more than 105% of the amount of taxes extended on
the tax levy in the preceding year on taxable property within such taxing body
is required to make a determination as to such amounts to be levied, not less than
twenty (20) days prior to the adoption of the tax levy, and is further required to
hold a public hearing regarding the proposed tax levy, pursuant to the publication
of a proper notice of hearing; and
WHEREAS, on the 16th day of April, 1985 the Village of Mount Prospect adopted
Ordinance No. 3512 approving the Annual Budget for the fiscal year from May 1, 1985
to April 30, 1986, covering the cost, expenses and liabilities of all general
corporate and special municipal purposes and activities to be undertaken during
the said fiscal year, and
WHEREAS, pursuant to said Budget, the Village of Mount Prospect anticipates
and determines that it shall require an aggregate tax levy of $5,524,300 exclusive
of election costs and debt service, as more particularly set forth in attached
Schedule A, upon all the taxable property within the Village, which proposed tax
levy is an increase of $618,925 over the tax levy of $4,905,375 for the preceding
fiscal year as extended; and
WHEREAS, such proposed tax levy upon all the taxable property within the
Village for the year beginning May 1, 1985 and ending April 30, 1986 constitutes
a tax increase of approximately 12.6% and it is deemed to be in the public interest
that a public hearing be held with respect to the various aggregate tax levy
amounts, as hereinafter set forth; and
LmEREAS, in addition to the tax levy upon all the taxable property within the
Vi 11 age, the Vill age of Mount Prospect anti ci pates and determi nes that it shall
require a tax levy of $1,030,000 exclusive of election costs and debt service, upon
the taxable property of Special Service Area No.5 within the Village, which pro-
posed tax levy is an increase of $206,000 over the tax levy of $824,000 of the
preceding'fiscal year as extended; and
WHEREAS, such proposed Special Service Area No.5 tax levy for the year
beginning May 1, 1985 and ending April 30,1986 constitutes a tax increase of
approximately 25.0% and it is deemed to be in the public interest that a public
hearing beheld with respect to the various tax levy amounts, as hereinafter set
forth;
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF TRUSTEES OF THE
VILLAGE OF MOUNT PROSPECT, COOK COUNTY ILLINOIS:
SECTION 1: This Board does hereby determine that the aggregate amount of
money to be levied (exclusive of any amounts levied for election costs and debt
service) as necessary to be raised by taxation upon all the taxable property
within this Village for the year commencing May 1, 1985 and ending April 30, 1986,
for general corporate and special municipal purposes, is estimated to be $5,524,400.
SECTION 2: The amount herein above determined to be the aggregate tax levy
upon all taxable property within the Village for the year commencing May 1, 1985
and ending April 30, 1986 constitutes a proposed tax levy of approximately 112.6%
of the property taxes extended upon the tax levy for the preceding year ending
April 30, 1985; an aggregate tax levy increase of approximately 12.6%.
SECTION 3: This Board does hereby determine that the aggregate amount of
money to be levied (exclusive of any amounts levied for election costs and debt
service) as necessary to be raised by taxation upon the taxable property within
Special Service Area No.5 for the year commencing May 1, 1985 and ending April 30,
1986, for special municipal purposes, is estimated to be $1,030,000.
SECTION 4: The amounts herein above determined to be the aggregate tax levy
upon the taxable property of Special Service Area No.5 within the Village for
the year commencing May 1, 1985 and ending April 30, 1986 constitutes a proposed
tax levy of approximately 125.0% of the property taxes extended upon the tax levy
for preceding year ending April 30, 1985; an aggregate tax levy increase of
approximately 25.0%.
SECTION 5: Apublic hearing with respect to the intent of the President and
Board of Trustees of this Village to adopt tax levy ordinances to establish and
levy the amounts determined herein to be raised by taxation, shall be held in the
Board Room in the Public Safety Building, 112 E. Northwest Highway, Mount Prospect,
Illinois at 8:00 p.m. o'clock C.D.T.on Tuesday, September 3, 1985.
SECTION 6: The Village Clerk is herein authorized and directed to publish a
notice of said public hearing in the MoùntProspect HERALD newspaper by no sooner
than August 20, 1985 nor later than August 27, 1985, which notice shall be substan-
tially as set forth in the attached Exhibit A and shall state in plain and simple
language (1) the amount of property taxes, exclusive of election costs and debt
service, extended or estimated to be extended upon all the taxable property within
the Village for the preceding year ending April 30,1985; (2) the amount of the
proposed levy, exclusive of election costs and debt service, for the current year
beginning May 1, 1985; (3) the percentage increase or decrease in the amount of
taxes to be levied; and (4) the date, time and place of the public hearing con-
cerning the proposed tax levy. The form of notice shall be no less than 1/8th
page i n si ze and the smallest type used shall be twelve poi nt and shall be enclosed
in a black border no less than 1/4th inch wide. The notice shall not be placed in
that portion of the newspaper where legal notices and classified advertisements
appear.
SECTION 7: The Village Clerk is herein authorized ~nd directed ~o publish a
notice of said public hearing i.n the Mount Prospect HERALD newspaper by no sooner
than August 20, 1985 nor later than August 27, 1985, which notice shall be substan-
tially as set forth in the attached Exhibit B and shall state in plain and simple
language (1) the amount of property taxes, exclusive of election costs and debt
service, extended or estimated to be extended upon the taxable property of Special
Service Area No.5 within the Village for the preceding year ending April 30, 1985;
(2) the amount of the proposed levy, exclusive of election costs and debt service,
for the current year beginning May 1, 1985; (3) the percentage increase or decrease
in the amount of taxes to be levied; and (4) the date, time and place of the public
hearing concerning the proposed tax levy. The form of notice shall be no less than
1/8th page in size and the smallest type used shall be twelve point and shall be
enclosed in a black border no less than 1/4th inch wide. The notice shall not be
placed in that portion of the newspaper where legal notices and classified ~dver-
tisments appear.
SECTION 8: This Resolution shall be in full force and effect upon its passage
and approval in accordance with law.
PASSED AND APPROVED THIS 6th DAY OF AUGUST, 1985.
AYES:
NAYS:
Arthur, Farley, Floras, Murauskis, Van Geem, Wattenburg
None
ABSENT:
None
(!~1~ )/, ){~
~ MAYOR
ATTEST:
Af~ "J/;;ÍJda
,.
VILLAGE CLERK