HomeMy WebLinkAboutOrd 3588 12/03/1985 RDINANCE NO. 3588
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, 1985 AND ENDING APRIL 30, 1986
PASSED AND APPROVED BY
THE PRESIDENT AND BOARD OF TRUSTEES
THE 3rd DAY OF December ,1985.
Published in pamphlet form by
authority of the corporate
authorities of the Village of
Mount Prospect, Illinois, the
5th day of December , 1985.
RDINANCE NO. 3588
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, 1985 AND
ENDING APRIL .30, 1986
BE IT ORDAINED BY THE PRESIDENT AND BOARD 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:
A. 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 1985 the sum of $161,500 for bond principal
and interest payments.
B. That pursuant to Village Ordinance No. 2541 adopted
November 19, 1984 and authorizing the issuance of general
obligation bonds for Library and Village Hall improvement
purposes there was levied for the year 1985 the sum of $317,600
for bond principal and interest payments.
C. That as of December 1, 1985 there has been collected,
deposited to and on hand in the Article XIV General Obligation
Bond and Interest fund the sum of $61,500 for application to
bond and interest payments for the 1973 sewer improvements, and
the sum of $117,600 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.3559
adopted on September 3, 1985.
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 $161,500 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 $61,500, leaving a balance of $100,000 as that amount levied
for such bond and interest payment purposes for the fiscal year
commencing May 1, 1985 and ending April 30,1986.
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 $317,600 levied for G. O. Bond and Interest
payments for 1974 Library and Village Hall improvement purposes
pursuant to Village Ordinance No. 2541 be and the same is hereby
abated in the amount of $117,600 leaving a balance of $200,000 as
that amount levied for such bond and interest payment purposes
for the fiscal year commencing May 1, 1985 and ending
April 30, 1986.
SECTION FOUR: Village Ordinance Nos. 2478 and 2541 are, and
e~ch is ~'6'r'eby amended, with respect to the tax abatements
declared herein and set for in Sections Two and Three of this
Ordinance.
SECTION FIVE: The Village Clerk of the Village of Mount
Prospect is hereby authorized and directed to file a certified
opy 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 it~ passage, approval and publication in pamphlet form and
filing as provided by law.
AYES: Arthur, Farley, Floros, Murauskis, Van Geem, Wattenberg
NAYS None
ABSENT: None
PASSED and APPROVED this 3rd
day of December
, 1985.
ATTEST:
Village Clerk
Village President
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