HomeMy WebLinkAboutOrd 3256 09/07/1982 RDINANCE NO. 3256
AN ORDINANCE TO DECLARE A REBATE IN SPECIAL
ASSESSMENT NO. 71 Co 0081 AND TO TRANSFER
THE SAME TO THE PUBLIC BENEFIT FUND OF THE
VILLAGE OF MOUNT PROSPECT, ILLINOIS
PASSED AND ~PROVED BY
THE PRESIDENT AND BOARD OF TRIlS'I~
THE 7th DAY OF Septembe~ 1982
Published in immv~hlet forum by
authority of the corporate
authorities of the Village of
~,bunt Prospect, Illinois the
8th day of September, A.D.
1982.
RDINANCE NO. 3258
AN ORDINANCE TO DECLARE A REBATE IN SPECIAL
ASSESSMENT NO. 71 Co 0081 AND TO TRANSFER
THE SAME TO THE PUBLIC BENEFIT FUND OF THE
VILLAGE OF MOUNT PROSPECT, ILLINOIS
- WHEREAS, the Village of Mount Prospect has hereto-
fore constructed a local improvement consisting of storm
sewers and related paving to Busse Road and other designated
streets within the Village, pursuant to Special Assessment
procedures; said Special Assessment being designated as
Mount Prospect Special Assessment No. 71 Co 0081 in the
County Court of Cook County, Illinois; and
WHEREAS, the report and assessment roll regarding
said Special Assessment was confirmed during the year 1972
to be payable in ten installments; the tenth and last in-
stallment becoming due on January 2, 1982; and
WHEREAS, all requisite statutory steps as required
by law have been taken in said Special Assessment proceeding
including the construction of the described local improvements
and the issuance of bonds and vouchers pertaining thereto;
and
WHEREAS, all construction, engineering, and related
assessment costs and expenses have been paid in full and
all vouchers and bonds issued thereon have been paid in full
with respect to said Special Assessment and there are no
outstanding bonds or vouchers or costs or expenses due with
respect to this proceeding; and
WHEREAS, as of August 15, 1982, there is on hand
in said Special Assessment No. 71 Co 0081 account a surplus
sum of $79,992.79; and
WHEREAS, the Village of Mount Prospect expended
the sum of $157,043.58 as public benefit from the Public
Benefit Fund with respect to said Special Assessment; and
WHEREAS, pursuant to the provisions of pertinent
state statutes and the ordinances of this Village, all sur-
plus funds on hand shall be first repaid to the Village to
reimburse expenditures from the Public Benefit Fund with
any remainder to be reimbursed proportionately to the
property owners assessed in said Assessment; and
WHEREAS, there remains to be collected in Special
Assessment No. 71 Co 0081 a sum of less than $10,000.00,
which sum, when collected by the Village, would be equally
available for reimbursement to the Public Benefit Fund of
the Village; and
WHEREAS, state- statutes and the ordinances of this
Village further provide that~the Village of Mount P~o~pect
hall be entitled to deduct from said surplus amount a sum
equal to five percent thereof to cover the costs and expenses
of the Village in declaring the rebate and accomplishing the
Fund transfer procedures pertaining thereto.
- NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND
BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK
COUNTY, ILLINOIS:
SECTION ONE: A rebate in the amount of $79,992.79 is hereby
declared in Village of Mount Prospect Special Assessment No.
71 Co 0081; said rebate amount to be distributed as follows:
Village of Mount Prospect -
General Corporate Fund
for costs and expenses
$ 3,999.64
b. Village of Mount Prospect -
Public Benefit Fund
75,993.15
Total $79,992.79
SECTION TWO: That the Village Collector is hereby further
authorized and directed to make additional transfers of
funds collected in Special Assessment No. 71 Co 0081 to
the Village of Mount Prospect, when and as such funds are
received, by transferring five percent of said amount to
the General Corporate Fund for costs and expenses with
the remainder to be transferred to the Public Benefit Fund,
iin accordance with law.
SECTION THREE: This Ordinance shall be in full force and
effect from and after its passage, approval and publication
in pamphlet form in accordance with law.
~982.
PASSED AND APPROVED th~s 7th day of September ,
~YES: Arthur Farley Floros Miller Murauskis Wattenberg
NAYS: None
ABSENT: None
ATTEST:
Vi l~age President
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