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Home My WebLink AboutOrd 6815 11/18/2025 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 1,2025 ANd Ending December 31, 2025ORDINANCE NO. 6815 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, 2025, AND ENDING DECEMBER 31, 2025 PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES the 18th day of November, 2025 Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois the 19th day of November , 2025. ORDINANCE NO. 6815 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, 2025, AND ENDING DECEMBER 31, 2025 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 Nine Million One Hundred Sixty Nine Thousand and Eighty Eight Dollars ($29,169,088), 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, 2025, and ending December 31, 2025, 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 2025. 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. 6762 at a meeting hereof regularly convened and held in said Village of Mount Prospect, Illinois, on the 6t' day of November, 2024, and amended by Ordinance No. 6782 on the 181h day of March, 2025, by Ordinance No. 6789 on 15`h day of April, 2025, by Ordinance No. 8794 on 8' day of July, 2025 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 2025 Tax Levy Amount Amount 130,gelcd Levied ARTICLE I -POLICE PROTECTION Personal Services, Salaries & Wages 14,289,475.0 4,607,379 Employee Benefits 8,791,618.0 0 Other Employee Costs 191,820.0 0 Contractual Services 3,213,195.7 0 Utilities 12,500.0 0 Insurance 195,821.0 0 Commodities & Supplies 260,617.9 0 Office Equipment 26,125.0 0 Other Equipment 15,285.0 0 Building Improvements 35,000.0 0 Total Police Department 27,031,458 4,607,379 TOTAL BUDGET FOR POLICE PROTECTION 27,031,458 AMOUNT TO BE RAISED BY TAX LEVY 4.007,379 ADD 2% FOR LOSS & COST OF COLLECTION 92,148 TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR POLICE PROTECTION 4,699,527 ARTICLE II -FIRE PROTECTION Personal Services, Salaries & Wages 12,358,778.00 4,132,420 Employee Benefits 7,655,769.00 0 Other Employee Costs 187,200.00 0 Contractual Services 3,218,628.00 0 Utilities 14,000.00 0 Insurance 160,393.00 0 Commodities & Supplies 74,250.00 0 Building Improvements 2,500.00 0 Office Equipment 750.00 0 Other Equipment 206,322.00 0 Total Fire Department 23,878,590 4,132,420 TOTAL BUDGET FOR FIRE PROTECTION 23,878,590 AMOUNT TO BE RAISED BY TAX LEVY 4.1:32,420 ADD 2% FOR LOSS & COST OF COLLECTION 82,648 TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR FIRE PROTECTION 4,215,068 ARTICLE III - DEBT SERVICE 00 Debt Service 00 00 518 G.O. Bonds - Series 2016 Bond Principal 1,795,000 221,,:367 Interest Expense 166,350 !'1 Bank and Fiscal Fees 0 _a? Total G.O. Bonds - Series 2016 1,961,355 221,367 ARTICLE III - DEBT SERVICE (continued) 00 00 565 G.O. Bonds - Series 2017 - TIF Bond Principal 220,000 0 Interest Expense 125,369 0 Bank and Fiscal Fees 0 0 Total G.O. Bonds - Series 2017 345,369 0 00 00 565 G.O. Bonds - Series 2017 - Water Bond Principal 220,000 0 Interest Expense 115,331 0 Bank and Fiscal Fees 0 0 Total G.O. Bonds - Series 2017 335,331 0 00 00 566 G.O. Bonds - Series 2018A - TIF Bond Principal 310,000 0 Interest Expense 216,369 0 Bank and Fiscal Fees 0 0 Total G.O. Bonds - Series 2018A - TIF 526,369 0 00 00 566 G.O. Bonds - Series 2018A - Water Bond Principal 210,000 0 Interest Expense 134,250 0 Bank and Fiscal Fees 0 0 Total G.O. Bonds - Series 2018A - Water 344,250 0 00 00 519 G.O. Bonds - Series 2018B - New Bond Principal 0 0 Interest Expense 1,444,250 0 Bank and Fiscal Fees 0 0 Total G.O. Bonds - Series 2018B - New 1,444,250 0 00 00 519 G.O. Bonds - Series 2018B - 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 2019B - 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 160,000 tP 78,250 k,`l 0 4;6 238,250 (;! 375,000 0 265,050 0 0 0 640,050 0 290,000 0 230,100 0 0 0 520,100 0 280,000 0 281,300 0 0 0 561,300 0 ARTICLE III - DEBT SERVICE (continued) 00 00 G.O. Bomds - Series 2022B - Flood Control Bond Principal 705,000 0 Interest Expense 174,300 0 Bank and Fiscal Fees 0 0 Total G.O. Bonds - Series 2022 879.300 0 TOTAL BUDGET FOR DEBT SERVICE 7,795,919 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 6,506,598 5,044,098 Total Police Pensions 6,506,598 5,044,098 TOTAL BUDGET FOR POLICE PENSION 6,506,598 AMOUNT TO BE RAISED BY TAX LEVY 5.044.098 ADD 2% FOR LOSS & COST OF COLLECTION 100,882 TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR POLICE PENSION 5„ 144.980 ARTICLE V - FIREFIGHTERS' PENSION 00 Fire Pensions Annual Pension Costs 5,334,863 3,872,363 Total Firefighters' Pensions 5,334,863 3,872,363 TOTAL BUDGET FOR FIREFIGHTERS' PENSION 5,334,863 AMOUNT TO BE RAISED BY TAX LEVY 3,872,363 ADD 2% FOR LOSS & COST OF COLLECTION 77,447 TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR FIREFIGHTERS' PENSION 3,949,810 ARTICLE VI - MOUNT PROSPECT LIBRARY 90 Mount Prospect Library Library Expenditures 17,941,000 11,291,461 Bond Principal 0 0 Interest Expense/Fiscal Charges 0 0 Total Library Services 17,941,000 11,291,461 TOTAL BUDGET FOR MOUNT PROSPECT LIBRARY 17,941,000 AMOUNT TO BE RAISED BY TAX LEVY - Library Expenditures 11,291,461 AMOUNT TO BE RAISED BY TAX LEVY - Bond Principal and Interest 0 ADD 2% FOR LOSS & COST OF COLLECTION 225,829 TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR MOUNT PROSPECT LIBRARY 11,517,290 Total Levy w/o L&C 29,169,088 Total Levy w/ L&C 29,752,469 I Article VILLAGE OF MOUNT PROSPECT, ILLINOIS 202.5 TAX LEVY SUMMARY Fund I Police Protection H Fire Protection III Debt Service IV Police Pension V Firefighters' Pension Village Totals VI Mount Prospect Library Library Services Library Debt Service Library Totals Village and Library Totals Amount Total to be Raised Amount Tax Levy Amount by for Loss Incl. Loss BudgetedTax Levy and Cost and Cost $ 27,031,458 4,607,379 92,148 4,699,527i 23,878,590 4,132,420 82,648 4,215,068( 7,795,919 221,367 4,427 225,794 6,506,598 5,044,098 100,882 5,144,980 5,334,863 3,872,363 77,447 3,949„810 70,547,428 17,877,627 357,552 18,235,179 17,941,000 11,291,461 225,829 11,517,„ 17,941,000 11,291,461 225,829 11 „517„ $ 88,488,428 29,169,088 583,381 29,752„, Section 3: The sum of $666,582 is budgeted to be received from personal property replacement tax revenue during the fiscal year commencing January 1, 2025 and ending December 31, 2025 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: Dante, DiPrima, Gens, Grossi, Matuszak, Saccotelli NAYES: None ABSENT: None PASSED and APPROVED this 18th ATTEST: ....... Karen Agorati , Village Clerk — day of November 2025. '(e"e P ' 71 " 9