HomeMy WebLinkAboutRes 37-95 11/21/1995 RESOLUTION NO. 37-95
A RESOLUTION TO DETERMINE THE AMOUNTS OF MONEY ESTIMATED TO
BE NECESSARY TO BE RAISED BY TAXATION BY THE VILLAGE OF MOUNT
PROSPECT UPON THE TAXABLE PROPERTY WITHIN THE VILLAGE FOR THE
YEAR COMMENCING MAY 1, 1995 AND ENDING DECEMBER 31, 1995.
WHEREAS, pursuant to Public Act 82-102 there has been enacted into law, effective July 29,
1981, certain legislation entitled "The Truth in Taxation Act," as amended; and
WHEREAS, pursuant to said Act any taxing body which proposes to adopt a tax levy in an
aggregate amount of more than 105% of the amount of taxas extended on the tax levy in the preceding
year on taxable property within such taxing body is required to make a determination as to such amounts
to be levied, not less than twenty (20) days prior to the adoption of the tax levy, and is further required
to hold a public hearing regarding the proposed tax levy, pursuant to the publication of a proper notice
of hearing; and
WHEREAS, on the 18th day of April, 1995 the Village of Mount Prospect adopted Ordinance
No. 4719 approving the Budget for the fiscal year from May 1, 1995 to December 31, 1995, covering
the cost, expenses and liabilities of all general corporate and special municipal purposes and activities to
be undertaken during the said fiscal year, and
WHEREAS, pursuant to said Budget, the Village of Mount Prospect anticipates and determines
that it shall require an aggregate tax levy of $10,494,600 exclusive of election costs and debt service, as
more particularly set forth in attached Sebedule A, upon all the taxable property within the Village, which
proposed tax levy is an increase of $731,850 over the tax levy of $9,762,750 for the preceding fiscal year
as extended; and
WHEREAS, such proposed tax levy upon all the taxable property within the Village for the year
beginning May 1, 1995 and ending December 31, 1995 constitutes a tax increase of approximately 7.5%
and it is deemed to be in the public interest that a public hearing be held with respect to the various
aggregate tax levy amounts, as hereinafter set forth:
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 determine that the aggregate amount of money to be levied
(exclusive of any amounts levied for election costs and debt service) as necessary to be raised by taxation
upon all the taxable property within this Village for the year commencing May 1, 1995 and ending
December 31, 1995, for general corporate and special municipal purposes, is estimated to be
$10,494,600.
SECTION 2: The amount herein above determined to be the aggregate tax levy upon all taxable
property within the Village for the year commencing May 1, 1995 and ending December 31, 1995
constitutes a proposed tax levy of approximately 105.1% of the property taxes extended upon the tax levy
for the preceding year ending April 30, 1995, an aggregate tax levy increase of approximately 5.1%.
SECTION 3: A public hearing with respect to the intent of the President and Board of Trustees
of this Village to adopt a tax levy ordinance to establish and levy the amounts determined herein to be
raised by taxation, shall be held in the Board Room in the Mount Prospect Senior Center, 50 South
Emerson Street, Mount Prospect, Illinois at 7:30 p.m. o'clock on Tuesday, December 19, 1995.
SECTION 4: The Village Clerk is herein authorized and directed to publish a notice of said
public hearing in the Mourn Prosuect JOURNAL newspaper by no sooner than December 7, 1995 nor
later than December 13, 1995, which notice shall be substantially as set forth in the attached Exhibit A
and shall state in plain and simple language (1) the amount of property taxes, exclusive of election costs
and debt service, extended or estimated to be extended upon all the taxable property within the Village
for the preceding year ending April 30, 1995; (2) the amount of the proposed levy, exclusive of election
costs and debt service, for the current year beginning May 1, 1995; O) the percentage increase or
decrease in the amount of taxes to be levied; and (4) the date, time and place of the public hearing
concerning the proposed tax levy. The form of notice shall be no less than l/Sth page in size and the
smallest type used shall be twelve point and shall be enclosed in a black border no less than 1/4th inch
wide. The notice shall not be placed in that portion of the newspaper where legal notices and classified
advertisements appear.
SECTION 5: This Resolution shall be in full force and effect upon its passage and approval in
accordance with law.
PASSED AND APPROVED THIS 21st DAY OF NOVEMBER, 1995.
AYES: Clowes, Corcoran, Hoefert, Skowron, Wilks
NAYS: Hendricks
ABSENT: None
ATTEST:
VILLAGE CLERK