HomeMy WebLinkAboutRes 10/07/1941 Afil
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RESOLVED, by the President and Board of
Trustees of the Village of Mount Prospect,
Cook County, and State of Illinois, that the
President be, and he is hereby, authorized
to sell at par and accrued interest to EARL
I. CUSTIN & COMPANY 1941 tax antioipation
warrants heretofore authorized by an ordinance
passed August 5, 1941, entitled "Ordinance
Providing for the Issuance of 1941 Tax Antics --
pation Warrants of the Village of Mount Prospect,
in Cook County, Illinois ", said warrants to be
sold being numbered D -1 to D-7, inclusive, in
denominations of Five Hundred Dollars ($500.00)
each; and
IT IS FURTHER RESOLVED that said tax
anticipation warrants bear interest at the
rate of three per cent (3 %) per annum; and
IT IS FURTHER RESOLVED that the Treasurer
of the Village of Mount Prospect be, and. he is
hereby, authorized to deliver said warrants to
said purchaser upon receipt of the purchase
price; and
IT IS FURTHER RESOLVED and it is hereby
agreed as a part of the consideration for the
sale of the aforesaid warrants that this
Village will not issue any additional warrants
in anticipation of the collection of taxes
levied in the year 1941 for general corporate
purposes in excess of the sum of Six Thousand
Dollars ($6,000.00), or in any other manner
pledge said taxes, until the aforesaid warrants
and warrants which may be hereafter authorized,
but not to exceed in the aggregate Six Thousand
Dollars (6,000.00), shall have been peed in
full, both principal and interest.
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