HomeMy WebLinkAboutOrd 3722 12/02/1986ORDINANCE NO. 3722
AN ORDINANCE TO ABATE A PART OF THE TAXES
LEVIED FOR CORPORATE AND MUNICIPAL PURPOSES OF
THE VILLAGE OF MOUNT PROSPECT, ILLINOIS FOR
THE FISCAL YEAR BEGINNING MAY 1, 1986 AND
ENDING APRIL 30~ 1987
PASSED AND APPROVED BY THE
PRESIDENT AND BOARD OF TRUSTEES
THE 2nd DAY OF Deoember, 1986
Published in pamphlet form by authority
of the corporate authorities of the
Village of Mount Prospect, Illinois, the
3rd day of December , 1986.
ORDINANCE NO. 3?22
AN ORDINANCE TO ABATE A PART OF THE TAXES
LEVIED FOR CORPORATE AND MUNICIPAL PURPOSES OF
THE VILLAGE OF MOUNT PROSPECT, ILLINOIS FOR
THE FISCAL YEAR BEGINNING MAY 1, 1986 AND
ENDING APRIL 30, 1987
BE IT ORDAINED BY THE PRESIDENT AND BDARD OF TRUSTEES OF THE VILLAGE
OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS:
SECTION ONE: The President and Board of Trustees of the Village of
Mount Prospect find as follows:
That pursuant to Village Ordinance No. 2478 adopted
December 4, 1973 and authorizing the issuance of general
obligation bonds for sewer system improvement purposes,
there was levied for the year 1986 the sum of $161,250 for
bond principal and interest payments·
That pursuant to Village Ordinance No. 2541 adopted
November t9, 1974 and authorizing the issuance of general
obligation bonds for Library and Village Hall improvement
purposes there was levied for the year 1986 the sum of
$305,800 for bond principal and interest payments·
That as of December 1, 1986 there has been collected,
deposited to and on hand in the Article XIV - General
Obligation Bond and Interest fund the sum of $51,250 for
application to bond and interest payments for the 1973
sewer improvements, and the sum of $105,800 for application
to bond and interest payments for the 1974 Library and
Village Hall improvements~ said amounts representing
interest due on the said 1973 and 1974 improvement bonds as
set forth in Village Ordinance No. 3694 adopted on
September 2, 1986.
SECTION TWO: It is hereby declared and determined by the President
and Board of Trustees of the Village of Mount Prospect that the
amount of $161,250 levied for G. O. Bond and Interest payments for
1973 sewer system improvements, pursuant to Village Ordinance No.
2478 be and the same is hereby abated in the amount of $51,250,
leaving a balance of $110,000 as that amount levied for such bond
end interest payment purposes for the fiscal year commencing May 1,
1986 and ending April 30, 1987.
SECTION THREE: It is hereby declared and determined by the
President and Board of Trustees of the Village of Mount Prospect
that the amount of $305,800 levied for G. O. Bond and Interest
payments for 1974 Library and Village Hail improvement purposes
pureusnt to Village Ordinance No. 2541 be and the same ie hereby
abated in the amount of $105,800 leaving a balance of $200,000 as
that amount levied for such bond and interest payment purposes for
the fiscal year commencing May 1, 1986 and ending April 30, 1987.
SECTION FOUR: Village Ordinance Nos. 2478 and 2541 are, and each is
hereby amended, with respect to the tax abatements declared herein
and set forth in Sections Two and Three of this Ordinance.
ECTION FIVE: The Village Clerk of the Village of Mount Prospect is
hereby authorized and directed to file s certified copy of this
Ordinance with the County Clerk of Cook County, Illinois within the
time specified by law.:
SECTION SIX: This Ordinance shall be in full force and effect upon
its passage, approval and publication in pamphlet form and filing as
provided by law.
AYES: Arthur,
NAYS: Farley,
ABSENT: None
PASSED
Floros, Murauskis, Krause
Van Geem, Wattenberg
and APPROVED this 2nd day of December, 1986.
ATTEST:
Carol A. Fields
Villege Clerk
- 2 -