HomeMy WebLinkAboutOrd 3186 02/02/1982 RDINANCE NO. 3186
~ ORDINANCE TO AUTHORIZE THE TRANSFER OF CERTAIN
EXCESS FUNDS FROM THE 1961 LIBRARY BUILDING FUND
TO THE GENERAL CORPORATE FUND OF THE VILLAGE OF
MOUNT PROSPECT, ILLINOIS
WHEREAS, this Board has heretofore, in 1961 issued bonds
in the amount of $198,000 for the purpose of constructing an
addition to the Library Building; said bonds to mature and
to be paid during a term from 1963 through 1981; and
WHEREAS,a special fund has been established entitled,
"The 1961 Library Buildin9 Fund" for the purpose of depositing
amounts collected from the levy of taxes to pay said bonds as
they mature; and
WHEREAS, there is presently on hand an amount sufficient
to pay the remaining outstanding bonds and coupons issued with
respect to the Library Building Construction, and in addition
there is an amount in excess thereof totalling $8;455; and
WHEREAS,said excess amount of $8,455 is neither required
nor necessary to meet the bond payment obligations heretofor
referred, and it is deemed to be in the best interests of this
Village that said excess amount be transferred to the General
Corporate Fund to be used for municipal purposes.
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS:
SECTIO~ ONE: This Board does hereby declare said amount
of $8,455 on hand in the 1961 Library. Building Fund to be
no longer necessary or required for bond payment purposes, and
the Village Treasurer of this Village is hereby authorized and
directed to transfer said amount from the 1961 Library Building
Fund to the General Corporate Fund of this Village.
SECTION TWO: This Ordinance shall be in full force and
effect upon its passage and approval in accordance with law.
PASSED AND APPROVED this 2nd day of February
AYES: Arthur, Farley, Floros, Murauskis
NAYS .:' None
, 1982.
ABSENT:
Miller, Wattenberg
VILLAGE PRESIDENT
ATTEST:
VILLAGE CLERK