HomeMy WebLinkAboutOrd 483 03/20/1956
Ordinance No. #.3
AN ORDINANCE for the sale and
assignment of certain judgment
liens for certain over -due and
unpaid installments of certain
special assessments held by the
Village of Mount Prospect, Cook
County, Illinois.
************
BE IT ORDAINED by the President and Board of Trustees of
the Village of Mount Prospect, Cook County, Illinois.
WHEREAS, the Village of Mount Prospect is the holder and owner
of certain judgment liens for certain respective installments of certain
special assessments proceedings, which are liens against certain parcels
of property, all of which is more particularly set out in the schedule
hereinafter referred to;and
WHEREAS, saidliens are over-due and unpaid and have in many
cases been forfeited for such non-payment; and
WHEREAS, the collection of said liens by legal proceedings
will necessitate the expenditure of a large amount of money by the
Village of Mount Prospect; and
WHEREAS, by reason of the provisions of statute now in force
andeffect, the Village of Mount Prospect as the holder and owner of
said several liens is authorized to sell and assign the same; and
WHEREAS, all of the bonds and interest thereon, interest coupons
on the said bonds, and vouchers issued to defray all expenses in
connection with the said proceedings have been heretofore paid in full.
and cancelled so that there are now no outstanding obligations of any
nature whatsoever against the special assessment warrants of the
('d
Village of Mount Prospect herein involved; and
WHEREAS, EDWIN L. BUSSE has proposed to purchase said
respective liens on the Special Assessment Warrants hereinafter
enumerated of the Village of Mount Prospect from the said Village,
at one hundred per cent (1000/0) of the principal thereof, and has proposed
to pay the said Village therefor, the sum of Six Hundred Ninety One
and 10/100 Dollars ($691. 10), provided proper assignment thereof is
executed to him; and
WHEREAS, it is deemed by the President and Board of Trustees
of the Village of Mount Prospect that such sale and assignment of said
liens is for the best interests of said Village of Mount Prospect, and that
there exists due and ample consideration therei>r , and that such payment
is fair, just and equitable, and that such proposition should be accepted
and such sale and assignment consummated;
NOW, THEREFORE, IT IS HEREBY ORDAINED AS FOLLOWS:
Section 1. The said Village of Mount Prospect does hereby sell
and assign to EDW'lN L. BUSSE each and all of the several judgment
liens for the several installments of the several special assessment
proceedings against the several parcels of property described in the
schedule shown in Section 5 hereof, it being a consideration of such
sale and assignment that the said EDWIN L. BUSSE will, upon this
Ordinance becoming effective, and concurrently with an in exchange for
an instrument of assignment by the said Village of Mount Prospect to
him, selling and assigning said liens, pay to the Village of Mount Prospect
in cash, the sum of Six Hundred Ninety One and 10/100 ($691/10) Dollars.
Section 2. The President of the Village of Mount Prospect and
the Village Clerk are hereby authorized to execute an instrument of sale
and assignment, assigning to said EDWIN L. BUSSE, the said several
liens mentioned herein, and deliver said instrument of sale and assign-
ment to him upon the payment by him to said Village of Mount Prospect
of the said sum of Six Hundred Ninety One and 10/100 ($691. 10) Dollars.
Section 3. The sale and assignment of the several liens herein
authorized shall be for the agreed price of one hundred per cent (1000/0)
of the face amount of the judgment of confirmation of each of said
respective liens, which said sum aggregating the amount of the purchase
price aforesaid, when so received, shall be placed to the credit of the
said several installments of said several special assessment proceedings,
upon the books of the said Village of Mount Prospect, shwoing such liens
and installments, in full and complete satisfaction of said liens against
said property.
Section 4. This Ordinance is hereby adopted by the President
and Board of Trustees oJ the Village of Mount Prospect in cone.ideration
of the immediate payment of the purchase price of said liens, and for
the purpose of avoiding delay and expenditure required for the enforcement
of the collection thereof by legal process.
Section 5. The several liens for the several installments of the
several special assessment proceedings against the certain properties
effected thereby, which are hereby authorized to be sold and assigned,
are particularly specified as follows:
SCHEDULE SHOWING DESCRIPTION OF CERTAIN
PROPERTIES IN THE VILLAGE OF MOUNT PROSPECT
COOK COUNTY, ILLINOIS, AGAINST WHICH THE SPECIAL
INSTALLMENTS SPECIFIED THEREIN OF THE RESPECTIVE
SPECIAL ASSESSMENT PROCEEDINGS INDICATED ARE THE
LIEN AND THE AMOUNT OF EACH AS SHOWN FROM THE
JUDG~NT OF CONFIRMATION RESPECTIVELY.
Block 5 in Busse's &. Wille's Resubdivision in Mount
Prospect in the West half of Section 12, Township
41 North, Range 11, East of the Third Principal
Meridian, in Cook County, Illinois.
Lot
No. of Installment
of such lien
Respective No. of
Assessment Proceed-
ing constituting such
lien
12
6
7
8
9
10
15
15
15
15
15
Section 6. This ordinance shall be in full force and effect
from and after its passage and approval according to law.
PASSED: this 2tl!!.day of ~A
APPROVED: this ;lIJ11 day of ~rC'h
, 1956.
, 1956.
Amount of In-
stallment as
shown by judg-
ment of con-
firmation
$138.22
138.22
138.22
138.22
138.22
$691. 10
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President
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