HomeMy WebLinkAboutRes 16-84 04/17/1984
n
RESOLUTION NO.
16-84
A RESOLUTION TO APPROVE AND AUTHORIZE THE
CLOSING OF THREE 1964 BOND AND INTEREST
FUND ACCOUNTS FOR FIRE EQUIPMENT, AND THE
CONSTRUCTION OF A PUBLIC WORKS BUILDING
AND FIRE STATION, AND TO TRANSFER FUNDS
ON HAND TO THE COMMUNICATIONS EQUIPMENT
DEBT SERVICE FUND IN THE VILLAGE OF
MOUNT PROSPECT, ILLINOIS
vlliEREAS, this Vlliágê did i~sue and sell bonds in 1964 for
the purpose of acquiring fire equipment and for constructing a
Public Works Building and a Fire Station within the Village; and
WHEREAS, pursuant to said bond issue the Village established
and maintained separate bond and interest funds for each of the
three separate transactions, for the purpose of making bond prin-
cipal and interest payments out of taxes levied and collected
for that purpose; and
WHEREAS, the final bond principal and interest payments be-
came due and payable and were paid, in full, on December 1, 1983
on all three funds, and all of said bonds issued for the above
mentioned municipal purposes have been delivered to the Village
and paid in full and cancelled, and there are no further out-
standing bonds to be paid; and
WHEREAS, each of said bond and interest funds have, on hand,
the following surplus amounts:
Fire Equipment 1964 Fund
Public Works Building 1964 Fund
Fire Station 1964 Fund
$15,727.10
19,938.74
17,511.25
$53,177.09
WHEPÆAS, it is deemed to be in the best public interest to
close out the above designated Funds and to transfer the amount
on hand to the Communications Equipment Debt Service Fund which
is being established for the purpose of acquiring communications
equipment; said amount to be used to abate taxes to be levied
for the first year in payment of this indebtedness.
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 approve and authorize the
closing of the Fire Equipment 1964 Fund, Public Works Building
1964 Fund, and Fire Station 1964 Fund and the transfer of the
above designated amounts on hand in each and all of said Funds
in the aggregate sum of Fifty Three Thousand One Hundred Seventy
Seven and 09/100 dollars ($53,177.09) to the Communications
Equipment Debt Service Fund of this Village for use in meeting
debt obligations pertaining thereto.
I
SECTION 2: The Director of Management Services of this
Village is hereby authorized and directed to take the necessary
steps to close out the above mentioned bond and interest Funds
and to transfer the amount on hand to the Communications Equip-
ment Debt Service Fund, and to take such further necessary steps
to apply such funds to abate taxes levied for payment of the
communications equipment indebtedness.
,
(
SECTION 3: This Resolution shall be in full force and effect
upon its passage and approval in accordance with law.
PASSED and APPROVED this
AYES:
NAYES:
ABSENT:
ATTEST:
17th
day of
Arthur, Farley, Flores, Murauskis
None
Van Geem, Wattenberg
April
, 1984.
{!~/ . ~
~)(-
c-~ MAYOR
1~~~
VILLAGE CLERK
- '<"1:-
/
-2-