HomeMy WebLinkAboutOrd 448 08/02/1955
ORDINANCE NO. -44- 8
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 in-
stallments 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, said liens are over-due and unpaid and have
in many cases been foneited for such non-payment; and
WHEREAS, the collection of said liens by legal proceed-
ings 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 and effect, the Village of Mount Prospect as the holder
and owner of said several liens is authorized to sell and
assign the same; and
WHEREAS, CHARLES J. WALTERS has proposed to purchase
said respective liens on the Special Assessment Warrants herein-
after enunlerated of the Village of Mount prospect from the said
Village, at one hundred per cent (100%) of the principal thereof
and has proposed to pay the said Village therefor, the sum of
Nine Hundred Fifteen Dollars and Forty Cents ($915.40), 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 therefor, 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 do
hereby sell and assign to CHARLES J. WALTERS each and all of the
several judgmen~ liens for the several installments of the
several speciall 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 CHARLES J. WALTERS will, upon this Ordinance
becoming effective, and concurrently with and 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 Nine Hundred Fifteen
Dollars and Forty cents ($915.40).
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
CHARLES J. WALTERS, the said several liens mentioned herein,
and deliver said instrument of sale and assignment to him upon
the payment by him to said village of Mount Prospect of the
said sum of Nine Hundred Fifteen Dollars and Forty Cents ($915.40).
SECTION 3. The sale and assignment of the several
liens herein authorized shall be for the agreed price of one
Hundred per cent (100%) of the face amount of the judgment of
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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 said Village of Mount Prospect, showing 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 the Board of Trustees of the Village of Mount
prospect in consideration 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 install-
ments of the several special assessment proceedings against the
certain properties affected 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 PROS-
PECT, COOK COUNTY, ILLINOIS, AGAINST WHICH
THE SPECIAL INSTALLMENTS SPECIFIED THEREIN
OF THE RESPECTIVE SPECIAL ASSESSMENT PRO-
CEEDINGS INDICATED ARE THE LIEN AND THE
AMOUNT OF EACH AS SHOWN FROM THE JUDGMENT
OF CONFIRMATION RESPECTIVELY.
Description of lots sub-
ject to respective liens
(SUbdivision description)
Respective
No. of
Assessment
Proceeding
constituting
such
lien
No. of
Install-
ment of
such
lien
Amountof
Installment
as shown by
judgment of
confirmation
Lot 2 in Division of the
West half of the North
East quarter of Section 14, 7
Township 41 North, Range 11, 8
East of the Third principal 9
Meridian 10
Total
25
25
25
25
1228.85
228.85
228.85
228,85
$915.40
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SECTION 6. This Ordinance shall be in full force
and effect from and after its passage and approval, according
to law.
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PASSED: this ~' day of August, A.D. 1955.
.0) )~ of August., A.D. 1955.
APPR OVED : this ,~ .r-' day
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