HomeMy WebLinkAboutOrd 3486 12/18/1984 RDINANCE NO. 3486
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, 1984
AND ENDING APRIL 30, 1985
PASSED AND APPROVED BY
THE PRESIDENT AND BOARD OF TRUSTEES
THE __]2kt. h DAY OF December , 1984.
Published in pamphlet form
by authority of the corporate
authorities of the Village of
Mount Prospect, Illinois the
18thday of Decipher , 1984.
RDINAN~ lqO,
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~ 1984
AND ENDING APRIL 30, 1985
BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE
VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS:
SECTION 1: This Board finds as follows:
That pursuant to Village Ordinance Number 3455
adopted September 4, 1984 there was levied for Article XII -
Police Pension Fund purposes the sum of $300~000,
including therein a levy for future pensions in the
amount of $100~000.
That pursuant to said Village Ordiance Number 3455
there was levied for Article XIII - Firemen's Pension
Fund purposes the sum of $250,000 for both current
and future pensions.
That subsequent to said levies for police and for
firemen's pension fund purposes this Village has
received an actuarial report indicating that there
is an excessive amount of $100,000 levied for police
pension fund purposes and an excess amount of $250,000
levied for firemen's pension fund purposes, which
levies are not necessary to meet Village pension fund
requirements.
That pursuant to Village Ordinance Number 2478 adopted
December 4, 1973 and authorizing the issuance of
general obligati6n bonds for sewer system improvement
purposes, there was levied for the fiscal year 1984-85
the sum of $161,500 for bond principal and interest
payments.
EJ
That pursuant to Village Ordinance Number 2541 adopted
November 19, 1974 and authorizing the issuance of
general obligation bonds for Library and Village Hall
improvement purposes there was levied for the fiscal
year 1984485 the sum Of $329,400 for bond principal
and interest payments.
That as of December 1, 1984 there has been collected,
deposited Go 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 system improvements, and the sum of
$129,400 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 Number 3455 adopted on September 4, 1984.
That pursuant to Village Ordinance Number 3418 adopted
April 17, 1984 and authorizing the acquisition of
Communications Equipment there w~s levied for fiscal
year 1984-85 the sum of $140,266 for loan principal
and interest payments.
hat as of December 1, 1984 there has been collected~
deposited to and otherwise on hand in the General
Obligation Bond and Interest fund for said Communications
Equipment the sum of $70,266 to be applied toward the
payment of loan principal and interest.
SECTION 2: It is hereby declared and determined by the
President and Board of Trustees of this Village that the amount
of $300,000 levied for ~olice Pension Fund purposes pursuant to
Village Ordinance Number 3455 be and the same is hereby abated in
the amount of $100,000, leaving a balance of $200,000 as that
amount levied for such Police Pension Fund purposes for the
fiscal year commencing May 1, 1984 and ending April 30, 1985.
SECTION 3: It is hereby declared and determined by the
President and Board of Trustees of this Village that the amount
of $250,000 levied for Firemen's Pension Fund purposes pursuant
to Village Ordinance Number 3455 be and the same is hereby abated
in the entire amount of $250,000 thus leaving a zero balance and
no further amount to be levied for such Firemen's Pension Fund
purposes for the fiscal year commencing May 1, 1984 and ending
April 30, 1985.
SECTION 4: It is hereby declared and determined by the
President and Board of Trustees of this Village that the
amount of $161,500 levied for G.O. Bond and Interest payments
for 1973 sewer system improvements, pursuant to Village Ordinance
Number 2478 and Village Ordinance Number 3455, be and the same
as 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~ 1984 and ending
April 30, 1985.
SECTION 5: It is hereby declared and determined by the
President and Board of Trustees of this Village that the amount
of $329,400 levied for G.O. Bond and Interest payments for
1974 Library and Village Hall improvement purposes pursuant to
Village Ordinance Number 2541 and Village Ordinance Number 3455
be and the same as hereby abated in the amount of $129,400,
leaving a balance of $200,000 as that amount levied for such
bond and interest payment purposes for the fiscal year commencing
May 1, 1984 and ending April 30, 1985.
SECTION 6: It is hereby declared and determined by the
President and Board of Trustees of this Village that the amount
of $140,266 levied for loan principal and interest payments
for Communications Equipment purposes pursuant to Village Ordinance
Number 3418 be and the same is hereby abated in the amount of
$70,266, leaving a balance of $70,000 as that amount levied for
such principal and interest payment purposes for the fiscal
year commencing May 1, 1984 and ending April 30, 1985. As said
balance of $70,000 is correctly levied in the same amount of
$70,000 by Village Ordinance Number 3455 there shall be no abate-
ment with respect to this levy in Village Ordinance Number 3455.
SECTION 7: Village Ordinance Numbers 2478, 2541, 3418, and
3455 are, and each is hereby amended, with respect to the several
tax abatements declared herein and set forth in Sections 2
through 6 of this Ordinance. ·
SECTION 8: The Village Clerk of this Village is hereby
authorized and directed to file a certified copy of this Ordinance
with the County Clerk of Cook County, Illinois within the time
specified by law.
SECTION 9:
upon its passage, approval
filing as provided by law.
-3-
This Ordinance shall be in
PASSED and APPROVED this
full force and effect
and publication in pamphlet form and
AYES: Arthur,
NAYS: None
ABSENT: None
18~h day of December, 1984.
Farley, Floros,
Murauskis, Van Geem, Wattenberg
ATTEST:
VILlagE ~E~
VII~LAG E PRESIDENT