HomeMy WebLinkAboutOrd 6487 11/15/2019 Abate a part of the taxes levied for corporate and municipal purposesof the Village of MP for fiscal year beginning Jan 1 2019 and ending December 31 2019ORDINANCE NO. 6487
AN ORDINANCE TO ABATE A PART OF THE TAXES LEVIED FOR
CORPORATE AND MUNICIPAL PURPOSES OF THE VILLAGE OF
MOUNT PROSPECT, ILLINOIS FOR THE FISCAL YEAR BEGINNING
JANUARY 1, 2019 AND ENDING DECEMBER 31, 2019
PASSED AND APPROVED BY
THE PRESIDENT AND BOARD OF
TRUSTEES the 19th d (y November , 2019
Published in pamphlet form by
authority of the corporate authorities
of the Village of Mount Prospect,
Illinois, the 20th day of November, 2019.
ORDINANCE NO. 6487
AN ORDINANCE TO ABATE A PART OF THE TAXES LEVIED FOR
CORPORATE AND MUNICIPAL PURPOSES OF THE VILLAGE OF
MOUNT PROSPECT, ILLINOIS FOR THE FISCAL YEAR BEGINNING
JANUARY 1, 2019 AND ENDING DECEMBER 31, 2019
BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE
OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS:
Section 1: The President and Board of Trustees of the Village of Mount Prospect find as follows:
A. That pursuant to Village Ordinance No. 6090 adopted August 20, 2013 authorizing
the issuance of general obligation bonds for financing the construction of various
flood control projects throughout the village there was levied for the year 2019 the
sum of $924,956 for bond principal and interest payments.
B. That pursuant to Village Ordinance No. 6347 adopted November 7, 2017
authorizing the issuance of general obligation bonds for financing the costs of
certain capital projects in the Village, there was levied for the year 2019 the sum of
$159,368.76 for bond interest payments.
C. That pursuant to Village Ordinance No. 6347 adopted November 7, 2017
authorizing the issuance of general obligation bonds for financing the costs of
certain capital projects in the Village, there was levied for the year 2019 the sum of
$296,131.26 for bond principal and interest payments.
D. That pursuant to Village Ordinance No. 6385 adopted April 17, 2018 authorizing
the issuance of general obligation bonds for financing the costs of certain capital
projects in the Village, there was levied for the year 2019 the sum of $273,368.76
for bond interest payments.
E. That pursuant to Village Ordinance No. 6385 adopted April 17, 2018 authorizing
the issuance of general obligation bonds for financing the costs of certain capital
projects in the Village, there was levied for the year 2019 the sum of $303,500.00
for bond principal and interest payments.
F. That pursuant to Village Ordinance No. 6403 adopted September 4, 2018
authorizing the issuance of general obligation bonds for financing the construction
of Police and Fire HQ projects and refunding of certain bonds of the village there
was levied for the year 2019 the sum of $2,064,500 for bond interest payments.
G. That pursuant to Village Ordinance No. 6449 adopted April 16, 2019 authorizing
the issuance of general obligation bonds for financing the costs of certain capital
projects in the Village, there was levied for the year 2019 the sum of $566,617.00
for bond principal and interest payments.
H. That pursuant to Village Ordinance No. 6483 adopted October 15, 2019 authorizing
the issuance of general obligation bonds for financing the construction of various
capital projects with the TIF District of Prospect and Main of the Village of Mount
Prospect, there was levied for the year 2019 the sum of $269,773 for bond principal
and interest payments.
Section 22: It is hereby declared by the President and Board of Trustees of the Village of Mount
Prospect that the amount of $924,956 levied for G.O. Bond interest payments for the purpose of
funding the construction of various flood control projects throughout the village pursuant to
Ordinance No. 6090 be and the same is hereby abated in the amount of $924,956 being the entire
amount levied for such bond interest payment purposes for the fiscal year commencing January 1,
2019 and ending December 31, 2019.
Section 3:3: It is hereby declared by the President and Board of Trustees of the Village of Mount
Prospect that the amount of $159,368.76 levied for G.O. Bond interest payments for the purpose
of funding construction projects throughout the village pursuant to Ordinance No. 6347 be and the
same is hereby abated in the amount of $159,368.76 being the entire amount levied for such bond
interest payment purposes for the fiscal year commencing January 1, 2019 and ending December
31, 2019.
Section 4: It is hereby declared by the President and Board of Trustees of the Village of Mount
Prospect that the amount of $296,131.26 levied for G.O. Bond principal and interest payments for
the purpose of funding construction projects throughout the village pursuant to Ordinance No.
6347 be and the same is hereby abated in the amount of $286,131.26 being the entire amount levied
for such bond principal and interest payment purposes for the fiscal year commencing January 1,
2019 and ending December 31, 2019.
Section 5: It is hereby declared by the President and Board of Trustees of the Village of Mount
Prospect that the amount of $273,368.76 levied for G.Q. Bond interest payments for the purpose
of funding construction projects throughout the village pursuant to Ordinance No. 6385 be and the
same is hereby abated in the amount of $273,368.76 being the entire amount levied for such bond
interest payment purposes for the fiscal year commencing January 1, 2019 and ending December
31, 2019.
Section 6: It is hereby declared by the President and Board of Trustees of the Village of Mount
Prospect that the amount of $303,500 levied for G.O. Bond principal and interest payments for the
purpose of funding construction projects throughout the village pursuant to Ordinance No. 6385
be and the same is hereby abated in the amount of $303,500.00 being the entire amount levied for
such bond principal and interest payment purposes for the fiscal year commencing January 1, 2019
and ending December 31, 2019.
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Section 7: It is hereby declared by the President and Board of Trustees of the Village of Mount
Prospect that the amount of $2,064,500 levied for G.O. Bond interest payments for the purpose of
funding construction projects throughout the village pursuant to Ordinance No. 6403 be and hereby
partially abated in the amount of $1,514,125.00 levied for such bond interest payment purposes
for the fiscal year commencing January 1, 2019 and ending December 31, 2019.
Section 8: It is hereby declared by the President and Board of Trustees of the Village of Mount
Prospect that the amount of $566,617 levied for G.O. Bond principal and interest payments for the
purpose of funding construction projects throughout the village pursuant to Ordinance No. 6449
be and the same is hereby abated in the amount of $566,617 being the entire amount levied for
such bond principal and interest payment purposes for the fiscal year commencing January 1, 2019
and ending December 31, 2019.
Section 9: It is hereby declared by the President and Board of Trustees of the Village of Mount
Prospect that the amount of $296,773 levied for G.O. Bond principal and interest payment for the
purpose of funding construction projects in the area of Prospect & Main TIF of the Village of
Mount Prospect pursuant to Ordinance No. 6483 be and the same is hereby abated in the amount
of $269,773 being the entire amount levied for such bond principal and interest payment purposes
for the fiscal year commencing January 1, 2019 and ending December 31, 2019.
Section 9: Village Ordinance Nos. 6090, 6347, 6385, 6403, 6449 and 6483 are hereby amended
with respect to the tax abatements declared herein and set forth in Sections Two through Eight of
this Ordinance.
Section 9: The Village Clerk of the Village of Mount Prospect is hereby authorized and directed
to file a certified copy of this Ordinance with the County Clerk of Cook County, Illinois within the
time specified by law.
Section 10: This Ordinance shall be in full force and effect upon its passage, approval and
publication in pamphlet form and filing as provided by law.
AYES: Grossi,Hatzis, Hoefert, Rogers, Saccotelli, Zadel
NAYS: None
ABSENT: None
PASSED and APPROVED this 19th day of November, 2019.
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...Mayor
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ATTEST:
Karen Agoranos, Village ler