HomeMy WebLinkAboutRes 17-72 08/01/1972
RESOLUTION NO. 17-72
A RESOLUTION OF INTENT REGARDING A LEVY TO RETIRE OUTSTANDING
BONDED INDEBTEDNESS ASSUMED BY THE VILLAGE OF ~lOUNT PROSPECT
UPON THE ANNEXATION OF THE AREA KNOWN AS "NEW TOWN" AND
"CAMELOT" .
BE IT RESOLVED BY THE MAYOR AND BOARD OF TRUSTEES OF THE VILLAGE OF
MOUNT PROSPECT, COOK COUNTY, ILLINOIS:
SECTION ONE: That the Treasurer of the Village of Mount Prospect be
and he is hereby directed to include in the preparation of the annual
levy of the Village of Mount Prospect sufficient amounts necessary to
eliminate certain bonded indebtedness assumed by the Village of Mount
Prospect by such assumption of all of the said assets and liabilities
of the Forest River Fire Protection District pursuant to an order en-
tered DecembeT 8,1971, In the ~ratter of a Petition to Annex Territory
to the Village of Mount ~rospect, 7JCoO~
(A) Pursuant to the terms of said order, the Village will levy;
in order to pay for 93% of the remaining and outstanding
obligations under this bonded indebtedness, while the Dis-
trict shall be liable for 7% of such remaining bonded in-
debtedness -- 7% being its proportionate share of any out-
standing and unpaid general obligation bonds of the District.
(B) Accordingly, the following monies will be levied by the
Village of Mount Prospect each year, not including loss
of collection -- such amounts being the Village's ninety-three
(93%) per cent proportionate share:
For the year 1972, a tax sufficient to
$6,997.09 for interest and principal;
produce the sum of
produce the sum of
produce the sum of
produce the sum of
produce the sum of
For the year 1973, a tax sufficient to
$6,787.84 for interest and principal;
For the year 1974, a tax sufficient to
$6,578.59 for interest and principal;
For the year 1975, a tax sufficient to
$6,369.34 for interest and principal;
For the year 1976, a tax sufficient to
$6,156.60 for interest and principal;
For the year 1977, a tax sufficient to produce the sum of
$ 5 , 940 . 38 ; an d
For the year 1978, a tax sufficient to produce the sum of
$6,636.14.
SECTION TWO: That this Resolution shall be in full force and effect
from and after its passage and approval in the manner provided by law.
AYES: 5
NAYS: 0
PASSED and APPROVED this
1st
day of August , 1972.
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