HomeMy WebLinkAboutOrd 5335 05/20/2003ORDINANCE NO. 5335
AN ORDINANCE AMENDING CHAPTER 8 OF
THE VILLAGE CODE OF MOUNT PROPSECT
Passed and approved by
the President and Board of Trustees
the 20th day of May, 2003
Published in pamphlet form by
authority of the corporate
authorities of the Village of
Mount Prospect, Illinois, the
21sT day of May, 2003
RDINANCE NO. 5335
AN ORDINANCE AMENDING CHAPTER 8 OF
THE VILLAGE CODE OF MOUNT PROSPECT
BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE
VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS:
SECTION 1: Chapter 8 of the Mount Prospect Village Code shall be amended
by adding a new Section 8.517 entitled "Interest on Overdue Village Obligations" to
Article V "Other Regulations" of Chapter 8 entitled "Village Government Miscellaneous
Provisions" to be and read as follows:
Sec. 8.517: INTEREST ON OVERDUE VILLAGE OBLIGATIONS.
Subject to Article XX of this Chapter 8 and unless stated otherwise in this
Code, any financial obligation, of any kind or nature which is owed to the
Village, shall bear interest at a rate set forth in Appendix A, Division I1.
SECTION 2: Division II of Appendix A of the Mount Prospect Village Code shall
be amended by inserting the following under Chapter 8 in numerical order:
Section 8.517; Interest on Overdue Villaqe Obligations
Rate: 7% per annum commencing on the date that the bill is deemed overdue
pursuant to Village regulations.
SECTION 3 That this Ordinance shall be in full force and effect from and after
its passage, approval and publication in pamphlet form in the manner provided by law.
AYES: Hoefert, Lohrstorfer, Skowron, Wilks, Zadel
NAYS: None
ABSENT: Corcoran
PASSED and APPROVED this 20th day of May, 2003.
ATTEST:--
Velma W(. Lowe, Village Clerk
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