The URL can be used to link to this page

Home My WebLink AboutOrd 6760 11/06/2024 Authoriziing 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, 2024 And Ending December 31, 2024ORDINANCE NO. 6760 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, 2024, AND ENDING DECEMBER 31, 2024 PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES the 6th day of i ovember 2024 Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois the 7th day of Novembe.r ?024. ORDINANCE NO. 6760 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, 2024, AND ENDING DECEMBER 31, 2024 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 Twenty Eight Million Nine Hundred Forty Seven Thousand Six Hundred Eighty Seven ($28,947,687), 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, 2024, and ending December 31, 2024, 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 2024. 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. 6708 at a meeting hereof regularly convened and held in said Village of Mount Prospect, Illinois, on the 7th day of November, 2023, and amended by Ordinance No. 6731 on the 19" day of March, 2024, by Ordinance No. 6745 on July 9, 2024, 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 2024 Tax Levy ARTICLE I -POLICE PROTECTION Amount Amount Budgeted Levied Personal Services 13,537,134 4,346,500 Employee Benefits 2,143,691 0 Other Employee Costs 191,680 0 Contractual Services 1,928,184 0 Utilities 13,500 0 Insurance 228,446 0 Commodities & Supplies 241,990 0 Office Equipment 26,145 0 Other Equipment 15,775 0 Total Police Department 18,326,545 4,346,500 TOTAL BUDGET FOR POLICE PROTECTION 18,326,545 AMOUNT TO BE RAISED BY TAX LEVY 4,346,500 ADD 2% FOR LOSS & COST OF COLLECTION 86,930 TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR POLICE PROTECTION 4,433,430 ARTICLE II - FIRE PROTECTION Personal Services 11,276,566 4,049,574 Employee Benefits 2,023,074 0 Other Employee Costs 154,812 0 Contractual Services 1,871,871 0 Utilities 14,000 0 Insurance 201,236 0 Commodities & Supplies 82,700 0 Building Improvements 2,500 0 Office Equipment 1,000 0 Other Equipment 182,875 0 Total Fire Department 15,810,634 4,0491574 TOTAL BUDGET FOR FIRE PROTECTION AMOUNT TO BE RAISED BY TAX LEVY ADD 2% FOR LOSS & COST OF COLLECTION TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR FIRE PROTECTION ARTICLE III - DEBT SERVICE 00 Debt Service 15,810,634 4,049,574 80,x')91 4,130,565 00 00 518 G.O. Bonds - Series 2016 Bond Principal 1,740,000 22.1,367 Interest Expense 218,550 Cl Bank and Fiscal Fees 0 Rl Total G.O. Bonds - Series 2016 1,958,550 221,.367 ARTICLE III - DEBT SERVICE (continued) 00 00 565 G.O. Bonds - Series 2017 - TIF Bond Principal Interest Expense Bank and Fiscal Fees Total G.O. Bonds - Series 2017 00 00 565 G.O. Bonds - Series 2017 - Water Bond Principal Interest Expense Bank and Fiscal Fees Total G.O. Bonds - Series 2017 00 00 566 G.O. Bonds - Series 2018A - TIF Bond Principal Interest Expense Bank and Fiscal Fees Total G.O. Bonds - Series 2018A - TIF 00 00 566 G.O. Bonds - Series 2018A - Water Bond Principal Interest Expense Bank and Fiscal Fees Total G.O. Bonds - Series 2018A - Water 00 00 519 G.O. Bonds - Series 2018E - New Bond Principal Interest Expense Bank and Fiscal Fees Total G.O. Bonds - Series 2018B - New 00 00 519 G.O. Bonds - Series 2018E - Refi Bond Principal Interest Expense Bank and Fiscal Fees Total G.O. Bonds - Series 2018B - Refi 00 00 565 G.O. Bonds - Series 2019A - Water Bond Principal Interest Expense Bank and Fiscal Fees Total G.O. Bonds - Series 2017 00 00 565 G.O. Bonds - Series 2019E - TIF Bond Principal Interest Expense Bank and Fiscal Fees Total G.O. Bonds - Series 2017 00 00 G.O. Bomds - Series 2022 - Water/Sewer Bond Principal Interest Expense Bank and Fiscal Fees Total G.O. Bonds - Series 2022 200,000 0 133,369 0 0 0 333,369 0 205,000 0 123,531 0 0 0 328,531 0 280,000 0 230,369 0 0 0 510,369 0 190,000 0 143,750 0 0 0 333,750 0 0 0 1444,2.50 0 0 0 1,444.250 0 155,000 0 86,000 0 0 0 241,000 0 345,000 0 282,300 0 0 0 627,300 0 260,0O0 0 243,101':) 0 0 0 503,100 0 255,000 0 294,050 0 0 0 549,050 0 ARTICLE III - DEBT SERVICE (continued) 00 00 G.O. Bomds - Series 2022B - Flood Control Bond Principal 685,000 0 Interest Expense 193,480 0 Bank and Fiscal Fees 0 0 Total G.O. Bonds - Series 2022 878,480 0 TOTAL BUDGET FOR DEBT SERVICE 7,707,749 AMOUNT TO BE RAISED BY TAX LEVY 221,367 ADD 2% FOR LOSS & COST OF COLLECTION 4,427 TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR DEBT SERVICE 225,794 ARTICLE IV - POLICE PENSION 00 Police Pensions Annual Pension Costs 6,126.944 5„126„944 Total Police Pensions 6 126,944 5,126,944 TOTAL BUDGET FOR POLICE PENSION 6,1:2.6,,944 AMOUNT TO BE RAISED BY TAX LEVY 5,12.6.944 ADD 2% FOR LOSS & COST OF COLLECTION 102,539 TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR POLICE PENSION 5,229,483 ARTICLE V - FIREFIGHTERS' PENSION 00 Fire Pensions Annual Pension Costs 5,133,242 4,133,242 Total Firefighters' Pensions 5,133,242 4,133,242 TOTAL BUDGET FOR FIREFIGHTERS' PENSION 5,133,242 AMOUNT TO BE RAISED BY TAX LEVY 4,133,242 ADD 2% FOR LOSS & COST OF COLLECTION 82,665 TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR FIREFIGHTERS' PENSION 4,215,907 ARTICLE VI - MOUNT PROSPECT LIBRARY 90 Mount Prospect Library Library Expenditures 9 9,339,200 11,070,060 Bond Principal 0 0 p g Interest Ex ense/Fiscal Charges 0 0 Total Library Services 19,339,200 11 070,060 TOTAL BUDGET FOR MOUNT PROSPECT LIBRARY 19,339,200 AMOUNT TO BE RAISED BY TAX LEVY - Library Expenditures 11,070,060 AMOUNT TO BE RAISED BY TAX LEVY - Bond Principal and Interest 0 ADD 2% FOR LOSS & COST OF COLLECTION 221,401 TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR MOUNT PROSPECT LIBRARY 11,291,461 Total Levy w/o L&C 28,947,687 Total Levy w/ L&C 29,526,640 VILLAGE OF MOUNT PROSPECT, ILLINOIS 2024 TAX LEVY SUMMARY Article Fund 221,401.00 I Police Protection 11 Fire Protection III Debt Service IV Police Pension V Firefighters' Pension Tax Levy Village Totals VI Mount Prospect Library 4,346,500 Library Services 4,433,430 Library Debt Service 4,049,574 Library Totals Village and Library Totals . ...................................... Amount 221,401.00 Total 19,339,200 to be Raised Amount Tax Levy Amount by for Loss Incl. Loss Budgeted Tax Levy and Cost and Cost 18,326,545 4,346,500 86,930.00 4,433,430 15,810,634 4,049,574 80,991.00 4,130,565 7,707,749 221,367 4,427.00 225,794 6,126,944 5,126,944 102,539.00 5,229,483 5,133,242 4,133,242 82,665.00 4,215,907 53,105,114 17,877,627 357,552.00 I&235,L79j 19,339,200 11,070,060 221,401.00 11,291,461 19,339,200 11,070,060 221,401.00 112 91,4 01 $ 72,444,314 28,947,687 578,953.00 29,526,640 Section 3: The sum of $932,750 is budgeted to be received from personal property replacement tax revenue during the fiscal year commencing January 1, 2024 and ending December 31, 2024 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. a ct.ion 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: Dante, Filippone, Gens, Grossi, Matuszak, Saccotelli NAYES: None ABSENT: None PASSED and APPROVED this 6th day of November 2024. eaL�zi"�. aul Hoefert, Mayor ATTEST:" r ry aren A oranos i1la e Clerk a g Cler g 'XX" ✓