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Home My WebLink AboutOrd 3253 09/07/1982 RDINANCE NO. 3253 AN ORDINANCE PROPOSING THE ESTABLISHMENT OF A SPECIAL SERVICE AREA IN THE VILLAGE OF MOUNT PROSPECT, ILLINOIS, AND PROVIDING FOR A PUBLIC HEARING AND OTHER PROCEDURES IN CONNECTION THEREWITH PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES THE 7th DAY OF SEPTEMBER, 1982. Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois, the 8th day of September, 1982. RDINANCE NO. 3253 ' AN ORDINANCE PROPOSING THE ESTABLISH~NT OF A SPECIAL SERVICE AREA IN THE VILLAGE OF MOUNT PROSPECT, ILLINOIS, AND PROVIDING FOR A PUBLIC HEARING AND OTHER PROCEDURES IN CONNECTION THEREWITH BE IT-ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS: SECTION ONE: Authority to Establish Special Service Areas. This Board takes notice of its authority to establish a special service area pursuant to Article VII, Section 6, paragraph 1, of the Constitution of the State of Illinois in force July 1, 1971, which provides in pertinent part that: "The General Assembly may not deny or li~it the power of home rule units (2) t~ levy or impose additional taxes upon areas within their boundaries in the manner pro- vided by law for the provision of special services to those areas and for thc payment of debt incurred in order to provide those special services." and further pursuant to an Act to provide the manner of levying or imposing taxes for the provision of special ser- vices to areas within the boundaries of Home Rule Units and Non-Home Rule municipalities and counties as set forth in Sections 1301 through 1311 of Chapter 120 of the Illinois Revised Statutes, 1981. SECTION ~O: FindingS. This Village Board hereby finds as follows: (A) ~t is in the best interest of the public that the creatio] of the area hereinafter described as a special service area for the purposes set forth herein be considered. (B) Said area is a contiguous ,area within the Village of Mount Prospect. (C) Said area will benefit specially from the municipal ser- vices to be provided, which proposed municipal services are unique and are in addition to municipal ser¥~ces provided by the Village of Mount Prospec~ as a whole, and it is therefore, in the best interests of the Vii]age of Mount Prospect that the levy of special taxes against said area for the special services so provided be considered. SECTION THREE: Public Hearings - Tax Rate - Issuance of Bonds A public hearing shall be held on Wednesday, the 2~th day o~ September, 1982, at 8:00 o'clock p.m. CDT, at Prospect High School Theater, 801 Kensington Road Mount Prospect, Illinois, to consider the creation of Special Service Area No. 5 of the Village of Mount Prcspect, in the territory described in the attached E>'Jnibit A ~hich is hereby made a part of this Ordinance by reference. %t the hearing, there will be considered the borrowing of ~1,900,000~00 to be evidenced by General Obligation Bonds, :he prOceeds of which shall be used to pay part of the cost Df the construction and installation of water distribution nains and pumping stations necessary in order to transport and provide Lake Michigan water to said Special Service %rea. Said bonds are to be retired over not to exceed a ie~ ~:(l~0)year period, and to bear interest at a rate of not C°~exceed twelve percent (12%) per annum. Said bonds, if issued, shall be retired by the levy of a direct tax to pay Lhe interest on such bonds as they fall due and to discharge !the principal thereOf at maturity. Said tax is to be levied upon all taxable property within the proposed Special Service Area and said tax shall be in addition to all other taxes ~rovided by law and levied upon property within the pro- ~osed Special Service Area pursuant to the Revneue Act of i9 39. At the hearing there will also be considered the levy of an annual tax of not to exceed an annual rate of 1.29 percent of the value of the property in the said Special Service Area as determined-for property tax purposes pursuant to the provisions of the Revenue Act of 1939; said tax to be levied for a maximum of th irty-~ive (35) years from the date of this Ordinance. Said tax shall De in addition to the tax levied for payment of bond principal and interest as pre- viously described herein, and shall be in addition to all other taxes provided by law and shall be levied upon property within the proposed Special Service Area pursuant to the provisions of the Revenue Act of 1939. SECTION FOUR: Notice of Hearing. Notice of Hearing shall be published at least once not less than fifteen (15) days prior to the public hearing in the ~ou~t Prospect Herald, a newspaper published within the Village of M~unt Prospect. In addition, Notice by mailing shall be given by depositing said Notice in the U.S. Mail addressed to the person or persons in whose name the general taxes for the last pre- ceding year were paid on each lot, block, tract or parcel of land lying within the proposed Special Service Area. Said Notice shall be mailed not less than ten (10) days prior to the time set for the public hearing~ In the event taxes for the last preceding year were not paid, the Notice shall be sent to the person last listed on the Tax Rolls prior to that year as the owner of said property. The Notice shall be in substantially the following form: "NOTICE OF HEARING VILLAGE OF MOUNT PROSPECT SPECIAL SEKVICE AREA NO. 5 NOTICE IS HEREBY GIVEN that on ~';ednesday, the 29th day of September, 1982, at 8:00 p.m. o'clock CDT, at Prospect High School Theater, 801 Kensington Road , F~.ount Prospect, Illinois, a hearing will be held by the President and Board of Trustees of the Village of F~ount Prospect to consider forming a Special Service Area con- sisting of the territory described in the attached Exhibit A, being all that territory within the corporate limits of the Village of MoUnt Prospect except for that portion therein which is provided water service by Citizens Utility -2- ompany. An accurate map of said Area is on file in the office of the Village Clerk and is available for public inspection. The purpose of the formation of-the Mount Prospect Special Service Area No. 5 in general is to provide special mu- nicipal services to the Area, including, but not limited to, municipal services consisting of the construction and installation of the necessary water distribution mains and pumping stations to provide Lake Michigan water to the Area. For the purpose of paying a portion of the cost of the Special Services, the issuance of General Obligation Bonds in the amount not to exceed $1,900,000.00 at an interest rate of not to exceed twelve percent (12%) per annum and to mature within a period of not to exceed ~ (10) years, will be considered at the hearing. Said bonds if issued, shall be retired by the levy of a direct tax to pay the interest on such bonds as it falls due and to discharge the principal thereof at maturity; said tax to be levied upon all taxable property within the proposed Special Service Area pursuant to the Revenue Act-of 1939. The remaining portion of the cost of said Special Services is to be paid from a special tax in addition to the tax to retire the general obligation bonds, to be levied annually for a period of not to exceed thirty~fi~e (.35) years and~n0t ~o exceed an annual rate of 1.29 ~er¢~ of the Value'of the taxable property included in the Special Service Area, as deCermined for property tax purposes pursuant to the provisions 0f the P, evenue Act of 1939. Ail interested persons, including all owners of real estate therein, affected by the formation of the Mount Prospect Special Service Area No. 5 will be given an opportunity to be heard at the hearing regarding the formation of and the boundaries of the Special Service Area and the issuance of such General obligation Bonds and the levy of taxes to pay the principal and interest thereof and the le~' of an annual tax in addition thereto, and may file objections to the formation of the Area, the issuance of such bonds, and the levy of taxes affecting said Area. The hearing may be adjourned by the Board to another date without further notice other than a Motion to be entered upon the Minutes fixing the time and place of its adjournment. If a Petition signed by at least 51 percent of the Electors residing within the Special Service Area and by at least 51 percent of the owners of record of the land included within the boundaries of the Special Service Area is filed with the Village Clerk within sixty (60) days following the final adjournment of the public hearing objecting to the creation of the Special Service Area, to the lc~~ or imposition of a tax or the issuance of bonds for thc pro- vision of special services to the area, or to a proposed increase in the tax rate, no such Distr~ct may be created, or tax may be levied or imposed nor the rate increased, or no such bonds may be issued. Dated this llth day of September, Carol A. Fields Vi llagc Clerk' -3- ECTION FIVE: effect from in pamphlet PASSED this AYES: Arthur NAYS ~ None ABSENT: None APPROVED this This Ordinance shall be in full force and and after its passage, approval and publication form in accordance with law. 7th day of September, 1982. Farley Floros Miller 7th day of September, 1982. Murauskis Wattenberg ATTE ST: · VILLAG~ CLERK VI ~LAGE PRESIDENT -4-