HomeMy WebLinkAboutRes 44-89 11/08/1989
RESOLUTION NO. 44-89
A RESOLUTION TO DETERMINE THE A}10UNTS OF MONEY ESTIMATED TO
BE NECESSARY TO BE RAISED BY TAXATION BY THE VILLAGE OF ~1OUNT
PROSPECT UPON THE TAXABLE PROPERTY WITHIN THE VILLAGE FOR THE
YEAR COill1ENCING MAY 1, 1989 AND ENDING APRIL 30, 1990.
WHEREAS, pursuant to Public Act 82-102 there has been enacted into law,
effective July 29, 1981, certain legislation entitled "The 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 18th day of April, 1989 the Village of Mount Prospect
adopted Ordinance No. 4044 approving the Annual Budget for the fiscal year from
May 1, 1989 to April 30, 1990, 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 $7,926,262
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 $659,107 over the tax levy of $7,267,154 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, 1989 and ending April 30, 1990 constitutes
a tax increase of approximately 9.1% 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:
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, 1989 and ending April 30,
1990, for general corporat~ßnd special municipal purposes, is estimated to be
$7,926,262.
n
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, 1989
and ending April 30, 1990 constitutes a proposed tax levy of approximately
109.1% of the property taxes extended upon the tax levy for the preceding year
ending April 30, 1989; an aggregate tax levy increase of approximately 9.1%.
SECTION 3:
A public hearing with respect to the intent of the President
and Board of Trustees of this Village to adopt a tax levy ordinance to establish
and levy the amounts determined herein to be raised by taxation, shall be held
in the Board Room in the Mount Prospect Senior Center, 50 South Emerson Street,
Mount Prospect, Illinois at 7:30 p.m. o'clock on Tuesday, December 5, 1989.
SECTION 4: The Village Clerk is herein authorized and directed to publish
a notice of said public hearing in the Mount Prospect HERALD newspaper by no
sooner than November 21, 1989 nor later than November 28, 1989, which notice
shall be substantially 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,
1989; (2) the amount of the proposed levy, exclusive of election costs and debt
service, for the current year beginning May 1, 1989; (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 advertisements appear.
SECTION 5:
This Resolution shall be in full force and effect upon its
passage and approval in accordance with law.
PASSED AND APPROVED THIS 8th DAY OF NOVEMBER, 1989.
AYES:
NAYS:
Arthur, Busse, Corcoran, Floros, Van Geem
Wattenberg
ABSENT: None
ATTEST:
4f~ J ¡;f~
VILLAGE CLERK