HomeMy WebLinkAboutRes 42-91 12/17/1991 J/CAF
RESOLUTION NO. 42-91
A RESOLUTION DECLARING THE INTENTION OF THE
VILLAGE OF MOUNT PROSPECT TO REIMBURSE THE
CAPITAL IMPROVEMENT FUND FOR CERTAIN
EXPENDITURES DURING THE FISCAL YEAR
COMMENCING MAY 1, 1991 AND ENDING~APRIL 30, 1992
FROM THE PROCEEDS OF BONDS TO BE ISSUED IN 1992
WHEREAS, the President and Board of Trustees of the Village of
Mount Prospect have passed and approved Ordinance No.. 2342, which
Ordinance sets forth the finances of the Village under the "Budget
Officer System" and;
WHEREAS, pursuant to the aforesaid Ordinance and the Statutes of
the State of Illinois an annual budget for the fiscal year
commaen¢ing May 1, 1991 to April 30, 1992 was adopted through the
passage of Ordinance No. 4296 approved by the corporatate
authorities of the Village of Mount Prospect on April 16, 1991; and
WHEREAS, it is in the best interests of the Village of Mount
Prospect to finance certain expenditures included in the annual
budget for the fiscal year commencing May 1, 1991 to April 30, 1992
from the proceeds of general obligation bonds; and
WHEREAS, upon the issuance of general obligation bonds in 1992, the
Capital Improvement Fund will be reimbursed from the proceeds of
said bonds for certain expenditures made in anticipation of the
issuance of general obligation bonds.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF TRUSTEES
OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS:
SECTION ONE: That the Mayor and Board of Trustees of the Village
of Mount Prospect do hereby state that it is the intentionof the
Village to reimburse the Capital Improvement Fund from the proceeds
of general obligation bonds to be issued in 1992 for expenditures
that were made in the fiscal year commencing May 1, 1991 and ending
April 30, 1992 as follows:
Street Resurfacing $350,000.00
Sidewalk Construction 50,000.00
Building Improvements 25,000.00
Police Equipment 35,000.00
Public Works Equipment 40.000.00
$500,000.00
SECTION TWO: That this Resolution shall be in full force and
effect from and after its passage and approval in the manner
provided by law.
AYES: Busse, Clowes, Wilks~ Corcora~, Hoefert, Floros
NAYS: None
ABSENT: None
PASSED and APPROVED this lTth day of D~r~mb~r , 1991.
Mayor /
ATTEST: /
/
/
Carol A. F~elds
Village Clerk