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Home My WebLink AboutOrd 6416 11/20/2018 Authorizing the Levy and Collection of Corporate and Municipal TaxesORDINANCE NO. 6416 AN ORDINANCE AUTHORIZING THE LEVY AND COLLECTION OF TAXES FOR THE CORPORATE AND MUNICIPAL PURPOSES OF THE VILLAGE OF MOUNT PROSPECT FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2018 AND ENDING DECEMBER 31, 2018 PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES the 20th day of November , 2018 Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois the 21st day of November.2018. ORDINANCE NO. 6416 AN ORDINANCE AUTHORIZING THE LEVY AND COLLECTION OF TAXES FOR THE CORPORATE AND MUNICIPAL PURPOSES OF THE VILLAGE OF MOUNT PROSPECT FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2018 AND ENDING DECEMBER 31, 2018 NOW, THEREFORE, BE IT ORDAINED BY THE President and Board of Trustees of the Village of Mount Prospect, Cook County, Illinois, as follows: Section 1: That the sum of Thirty Million One Hundred and Four Thousand Three Hundred and Eighty Dollars ($30,104,380) the same being the total amount to be levied of budget appropriations heretofore made for the corporate and municipal purposes for the fiscal year beginning January 1, 2018 and ending December 31, 2018 as approved by the President and Board of Trustees of the Village of Mount Prospect, be and the same is hereby levied on all taxable property within the Village of Mount Prospect according to the valuation of said property as is, or shall be assessed or equalized by the State and County purposes for the current year 2018. Section 2: The budgetary appropriations having been made by the President and Board of Trustees of the Village of Mount Prospect were passed and approved by Ordinance No. 6352 at a meeting hereof regularly convened and held in said Village of Mount Prospect, Illinois, on the 5th day of December, 2017, and amended by Ordinance No. 6377 passed and approved on the 6th day of March, 2018, and thereafter duly published according to law, the various objects and purposes for said budgetary appropriations are heretofore made and set forth under the column entitled "Amount Budgeted", and the specific amount herein levied for each object and purpose is set forth under the column entitled "Amount Levied", in Articles I through VI. VILLAGE OF MOUNT PROSPECT, ILLINOIS 2018 TAX LEVY ARTICLE I - POLICE PROTECTION Personal Services Employee Benefits Other Employee Costs Contractual Services Utilities Commodities & Supplies Office Equipment Other Equipment Total Police Department TOTAL BUDGET FOR POLICE PROTECTION AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS & COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR POLICE PROTECTION ARTICLE II - FIRE PROTECTION Amount Amount Budgeted Levied 10,486,697 4,776,562 5,946,309 0 179,900 0 1,716,648 0 48,574 0 195,427 0 15,835 0 82,410 0 18,671,800 4,776,562 18,671,800 4,776,562 95,531 4,872,093 �a Personal Services 8,618,497 4,950,563 Employee Benefits 5,278,039 0 Other Employee Costs 173,665 0 Contractual Services 1,201,506 0 Utilities & Insurance 64,617 0 Commodities & Supplies 54,702 0 Other Expenditures 0 0 Building Improvements 15,828 0 Office Equipment 250 0 Other Equipment 240,912 0 Total Fire Department 15,648,016 4,950,563 TOTAL BUDGET FOR FIRE PROTECTION 15,648,016 AMOUNT TO BE RAISED BY TAX LEVY 4,950,563 ADD 2% FOR LOSS & COST OF COLLECTION 99,011 TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR FIRE PROTECTION 5,049,574 2 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2018 TAX LEVY ARTICLE III - DEBT SERVICE Amount Amount 13udetcd Levied 00 Debt Service 00 00 514 G.O. Bonds - Series 2011 B Bond Principal 755,000 755,000 Interest Expense 38,556 38,556 Bank and Fiscal Fees 0 0 Total G.O. Bonds - Series 2011B 793,556 793,556 00 00 515 G.O. Bonds - Series 2012 Bond Principal 0 0 Interest Expense 54,095 54,095 Bank and Fiscal Fees 0 0 Total G.O. Bonds - Series 2012 54,095 54,095 00 00 516 G.O. Bonds - Series 2013 Bond Principal 0 0 Interest Expense 369,956 0 Bank and Fiscal Fees 1,000 0 Total G.O. Bonds - Series 2013 370,956 0 00 00 517 G.O. Bonds - Series 2014 Bond Principal 560,000 560,000 Interest Expense 140,250 140,250 Bank and Fiscal Fees 500 0 Total G.O. Bonds - Series 2014 700,750 700,250 00 00 518 G.O. Bonds - Series 2016 Bond Principal 0 0 Interest Expense 265,800 265,800 Bank and Fiscal Fees 500 0 Total G.O. Bonds - Series 2016 266,300 265,800 00 00 565 G.O. Bonds - Series 2017 - TIF Bond Principal 0 0 Interest Expense 159,369 0 Bank and Fiscal Fees 0 0 Total G.O. Bonds - Series 2017 159,369 0 00 00 565 G.O. Bonds - Series 2017 - Water Bond Principal 125,000 0 Interest Expense 161,131 0 Bank and Fiscal Fees 0 0 Total G.O. Bonds - Series 2017 286,131 0 3 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2018 TAX LEVY Amount Amount Budgeted Levied ARTICLE III - DEBT SERVICE (continued) 00 00 566 G.O. Bonds - Series 2018A - TIF Bond Principal 0 0 Interest Expense 273,369 0 Bank and Fiscal Fees 0 0 Total G.O. Bonds - Series 2018A - TIF 273,369 0 00 00 566 G.O. Bonds - Series 2018A - Water Bond Principal 115,000 0 Interest Expense 181,950 0 Bank and Fiscal Fees 0 0 Total G.O. Bonds - Series 2018A - Water 296,950 0 00 00 519 G.O. Bonds - Series 2018B - New Bond Principal 0 0 Interest Expense 1,624,781 0 Bank and Fiscal Fees 1,000 0 Total G.O. Bonds - Series 2018B - New 1,625,781 0 00 00 519 G.O. Bonds - Series 2018 - Refi Bond Principal 400,000 400,000 Interest Expense 208,406 208,406 Bank and Fiscal Fees 0 0 Total G.O. Bonds - Series 2018B - Refi 608,406 608,406 00 00 650 IEPA Loans Loan Principal 57,499 0 Loan Expense 754 0 Bank and Fiscal Fees 0 0 Total IEPA Loans 58,253 0 00 00 659 Flood Installment Loan Loan Principal 590,000 0 Loan Expense 5,369 0 Total IEPA Loans 595,369 0 TOTAL BUDGET FOR DEBT SERVICE 6,089,285 AMOUNT TO BE RAISED BY TAX LEVY 2,422,107 ADD 2% FOR LOSS & COST OF COLLECTION 48,442 TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR DEBT SERVICE 2,470,549 4 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2018 TAX LEVY ARTICLE IV - POLICE PENSION 00 Police Pensions Amount Amount Budgeted Levied Pension Benefits 5,033,555 3,412,934 Contractual Services 165,500 0 Insurance 15,000 0 Commodities & Supplies 100 0 Other Expenditures 10,000 0 Total Police Pensions 5,224,155 3,412,934 TOTAL BUDGET FOR POLICE PENSION 5,224,155 AMOUNT TO BE RAISED BY TAX LEVY 3,412,934 ADD 2% FOR LOSS & COST OF COLLECTION 68,259 TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR POLICE PENSION 3,481,193 ARTICLE V - FIREFIGHTERS' PENSION 00 Fire Pensions Pension Benefits 5,601,610 3,150,839 Contractual Services 133,500 0 Insurance 15,000 0 Commodities & Supplies 100 0 Other Expenditures 10,000 0 Total Firefighters' Pensions 5,760,210 3,150,839 TOTAL BUDGET FOR FIREFIGHTERS' PENSION 5,760,210 AMOUNT TO BE RAISED BY TAX LEVY 3,150,839 ADD 2% FOR LOSS & COST OF COLLECTION 63,017 TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR FIREFIGHTERS' PENSION 3,213,856 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2018 TAX LEVY ARTICLE VI - MOUNT PROSPECT LIBRARY 90 Mount Prospect Library Library Expenditures Bond Principal Interest Expense/Fiscal Charges Total Library Services TOTAL BUDGET FOR MOUNT PROSPECT LIBRARY AMOUNT TO BE RAISED BY TAX LEVY - Library Expenditures AMOUNT TO BE RAISED BY TAX LEVY - Bond Principal and Interest ADD 2% FOR LOSS & COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR MOUNT PROSPECT LIBRARY Amount Amount Budgeted Levied 10,037,300 9,817,775 1,425,000 1,425,000 148,600 148,600 11,610,900 11,391,375 11,610,900 9,817,775 1,573,600 227,827 11,619,202 Article I Police Protection II Fire Protection III Debt Service IV Police Pension V Firefighters' Pension for Loss Village Totals VILLAGE OF MOUNT PROSPECT, ILLINOIS 2018 TAX LEVY SUMMARY Fund VI Mount Prospect Library Library Services Library Debt Service Library Totals Village and Library Totals VA Amount Total to be Raised Amount Tax Levy Amount by for Loss Incl. Loss Budgeted Tax Levy and Cost and Cost $ 18,671,800 4,776,562 95,531 4,872,093 15,648,016 4,950,563 99,011 5,049,574 6,089,285 2,422,107 48,442 2,470,549 5,224,155 3,412,934 68,259 3,481,193 5,760,210 3,150,839 63,017 3,213,856 51,393,466 18,713,005 374,260 19,087,265 10,037,300 9,817,775 196,356 10,014,131 1,573,600 1,573,600 31,471 1,605,071 11,610,900 11,391,375 227,827 11,619,202 $ 63,004,366 30,104,380 602,087 30,706,467 VA Section 3: The sum of $425,000 is budgeted to be received from personal property replacement tax revenue during the fiscal year commencing January 1, 2018 and ending December 31, 2018 and has been included herein as funds to be derived from sources other than property taxes supporting expenses related to police and fire protection, general obligation bonds and interest, public safety pensions and library services. Section 4: That the County Clerk is directed to add 2% to the requested tax levy as a provision for loss and cost. Section 5: That the Village Clerk of the Village of Mount Prospect is hereby directed to certify a copy of this Ordinance and is hereby authorized and directed to file a copy of the same with the County Clerk of Cook County, Illinois, within the time specified by law. Section 6: That, if any part or parts of this Ordinance shall be held to be unconstitutional or otherwise invalid, such constitutionality or invalidity, shall not affect the validity of the remaining parts of this Ordinance. The President and Board of Trustees of the Village of Mount Prospect hereby declares that they would have passed the remaining parts of the Ordinance of they had known that such parts or parts thereof would be declared unconstitutional or otherwise invalid. Section 7: That this Ordinance shall be in full force and effect from and after its passage, approval, publication in pamphlet form and recording, as provided by law. AYES: Grossi, Hatzis, Hoefert, Rogers, Saccotelli, Zadel NAYES: None ABSENT: None PASSED and APPROVED this 20th day of November, 2018. ATTEST: Karen Agoranos "dill...... Clerk rk ......_ . _.... _. _ ...___ .....w_ � r lemm A. Juracek, Mayor s VILLAGE OF MOUNT PROSPECT AND THE MOUNT PROSPECT PUBLIC LIBRARY PROPOSED 2018 TAX LEVY TOTAL - VILLAGE OF MOUNT PROSPECT AND PUBLIC LIBRARY 33,534,936 3,430,556 30,104,380 602,087 30,706,467 VILLAGE 2017 2018 Total Levy Amount 19,087,265 19,087,265 Increase Over Prior Year - 0.00% LIBRARY 2017 2018 Total Levy Amount 11,367,447 11,619,202 Increase Over Prior Year 251,755 2.21% 2% Gross Net Provision Total 2018 Subsidy/ 2018 Loss and 2018 Levy Abatements Levy Costs Extension VILLAGE OF MOUNT PROSPECT Police Protection 4,776,562 0 4,776,562 95,531 4,872,093 Fire Protection 4,950,563 0 4,950,563 99,011 5,049,574 Police Pension Fund 3,607,934 195,000 3,412,934 68,259 3,481,193 Firefighters' Pension Fund 3,375,839 225,000 3,150,839 63,017 3,213,856 Debt Service Funds Series 2011B 793,556 0 793,556 15,871 809,427 Series 2012 54,095 0 54,095 1,082 55,177 Series 2013 369,956 369,956 0 0 0 Series 2014 700,250 0 700,250 14,005 714,255 Series 2016 265,800 0 265,800 5,316 271,116 Series 2017 (TIF) 159,369 159,369 0 0 0 Series 2017 (WTR) 286,131 286,131 0 0 0 Series 2018a (TIF) 273,369 273,369 0 0 0 Series 2018a (WTR) 296,950 296,950 0 0 0 Series 2018b (new) 1,624,781 1,624,781 0 0 0 Series 2018b (refi) 608,406 0 608,406 12,168 620,574 Total Village 22,143,561 3,430,556 18,713,005 374,260 19,087,265 MOUNT PROSPECT PUBLIC LIBRARY Library Operations 9,817,775 0 9,817,775 196,355 10,014,130 Library Debt Service 1,573,600 0 1,573,600 31,472 1,605,072 Total Library 11,391,375 0 11,391,375 227,827 11,619,202 TOTAL - VILLAGE OF MOUNT PROSPECT AND PUBLIC LIBRARY 33,534,936 3,430,556 30,104,380 602,087 30,706,467 VILLAGE 2017 2018 Total Levy Amount 19,087,265 19,087,265 Increase Over Prior Year - 0.00% LIBRARY 2017 2018 Total Levy Amount 11,367,447 11,619,202 Increase Over Prior Year 251,755 2.21%