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HomeMy WebLinkAboutOrd 2987 03/04/1980 /28/80 ORDINANCE NO. 2987 AN ORDINANCE PROPOSING THE ESTABLISHMENT OF VILLAGE OF MOUNT PROSPECT SPECIAL SERVICE AREA NUMBER TWO AND PROVIDING FOR A PUBLIC HEARING AND OTHER PROCEDURES IN CONNECTION THEREWITH IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VIL- OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS, AS FOLLOWS: iECTION ONE: Chapter 120, ~130t et. seq. of the Illinois Revised tatutes (1977) authorizes the es~-~bl~--kment of special service .teas in order to provide governmental services t~ certain areas ! a municipality and authorizes the imposition of a tax to pgy or such services and to pay debt incurred in providing such ECTION TWO: The President and Board of Trustees of the Village .f Mount Prospect find as follows: It is in the public interest that the creation of a special service area in the territory hereinafter described be considered at a public meeting to be held as hereinafter set forth. Said territory is contiguous and within the Village of Mount Prospect and complies with the terms of Chapter 120, §1301 et. seq. of the 1977 Illinois Revised Statute Co It is proposed that a water system consisting of water mains, water lines, hydrants, meters and related appur- tenant facilities be consturcted and installed to serve the hereinafter described territory. De It is in the public interest of the Village to deter- mine whether a special service area should be created to provide such a water system to such territory and whether such water system should be paid for by the sale of bonds to be retired by a special tax against all tax- able real property within said territory. ;ECTION THREE: Pursuant to authority granted by the Illinois ~vised Statutes, the President and Board of Trustees of the Vil- .age of Mount Prospect hereby propose the establistunent of Vil )f Mount Prospect Special Service Area Number Two for the purpose )f constructing and installing a water system consisting of water wains, water lines, hydrants, meters and related appurtenant acilities to serve the contiguous territory legally described as ollows: Ail that part of the Southwest 1/4 of the Southwest 1/4 of Section 11, Township 41 North, Range 11 East of the Third Principal Meridian which lies South of the South line of the North 10.acres-Of the SouthQest 1/4 of the Southwest 1/4 of Section 11 aforesaid together with ali that part of the West 25 acres of that part of the West 1/2 of the North- west 1/4 of Section 14, Township 41 North, Range 11 East of the Third Principal Meridian lying North of the center line of Golf Road described as follows; Commencing at the point of intersection on the North line of the West 1/2 of the Northwest 1/4 of SeCtion 14 aforesaid, with the East line of the West 25 acres of the West 1/2 of the Northwest 1/4 of Section 14 aforesaid; thence SoUth along the East line of the West 25 acres of the West 1/2 of the Northwest 1/4 of Section 14 aforesaid to the center line of Golf Road; thence Northwesterly along the center line of Golf Road to intersection with the West line of the West 1/2 of the Northwest 1/4 of Section 14 aforesaid; thence North along the West line of the West 1/2 of the' Northwest 1/4 afore- said to the intersection with a line which is the North line of Lots 2 and 20 extended West in Busse Country Estates being a subdivision of~the West 25 acres of that part of the WeSt 1/2 of the Northwest 1/4 of Section 14, Township 41 North, Range 1! East of the Third Principal Meridian lying North of Seegers Road (now Golf Road); thence East along the said extension and along the North line of Lots 2 and 20 aforesaid to the Northeast corner of Lot 20 aforesaid also being the West line of Meyer Avenue as dedicated in Busse Country Estates subdivision afore- said; thence North along the West line of Meyer Avenue as dedicated in Busse Country Estates subdivision aforesaid and along its extension North to its intersection with the North line of the West 1/2 of the Northwest 1/4 of Section 14 aforesaid; thence East along the North line of the West 1/2 of the Northwest 1/4 of Section 14 aforesaid to the place of beginning. kn accurate map of said territory is attached hereto as Exhibit A and incorporated herein by this reference. SECTION FOUR: A p~hlic hearing shall be held on the !st day of April, 1980, at 8:00 p.m. at the Public Safety Building, 112 East Northwest Highway, Mount Prospect, Illinois, to consider the creation of Village of Mount Prospect Special Service Area Numbe~ Two in the Village of Mount Prospect, Illinois, for the territory described in Section Three. At the hearing there shall be con- sidered a proposal for the construction and installation of a water system consisting of water mains, water lines, hydrants, meters and related appurtenances to serve the territory described in Section Three. The estimated cost of said improvement is $335,000. It is proposed that bonds not in excess of the princi- pal amount of $335,000 shall be issued to pay such costs and expenses. Said bonds shall be retired over a period not to exceed 20 years and at an interest rate not to exceed the greateI of 9% per annum or 70% of the prime commercial rate in effect at the time the contract for the sale of the bonds is made. Prime commercial rate means such prime rate as from time to time is publicly announced by the larqest commercial banking institution located in this State, measured in ter~s of total assets. uch bonds, if issued, shall be r~tired by the levy of a direct tax to pay interest on such bOnds as it becomes due, and to dis- charge the principal thereof'at maturity. Said tax is to be levied upon all taxable real property within the proposed Villac of Mount Prospect SPeCial Service Area Number Two, as legally described in Section Three, and said tax shall be in addition to any other annual tax presently levied by any taxing authority within said special service area. SECTION FIVE: The Village Clerk shall give notice of such heariI in the following manner: Notice of such hearing shall be pub- lished at least once not less than 15 days prior to the public hearing in the Mount Prospect Herald, a newspaper of general circulation in the Village of Mount Prospect. In addition, notice by mailing shall be given by depositing said notice in the United States mail addressed to the person or persons in whose name the last general taxes for the preceding Year were pa2 on each lot, block, tract and parcel of land lying within the proposed special service area. Said notice shall be mailed not less than 10 days prior to the date 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 roll prior to that year. as the owner of said property. The notice shall be in substantially the'following form: NOTICE OF PUBLIC HEARING VILLAGE OF MOUNT PROSPECT SPECIAL SERVICE AREA NUMBER TWO 1980, at 8:00 P2~. at the Public Safety BUilding, 112 East NOTICE IS HEREBY GIVEN that on the 1st day of April, Northwest Highway, Village of ~ount Prospect, Illinois, a hearing will be held by the President and Board of Trustees of the Village of Mount Prospect to consider forming Special Servic~ Area Number Two consisting of territory lying east of South BussE Road, north of West Golf Road and south and west of the Mount Prospect Country Club and which territory is legally described a~ follows: ~All that part of the Southwest 1/4 of the Southwest 1/~ of Section !1, Township 41 North, Range 1! East of the Thir~ Principal Meridian which lies South of the South line of the North 10 acres of the Southwest 1/4 of.the Southwest 1/4 of Section 11 aforesaid together with all that part of the West 25 acres of that part of the West 1/2 of the Northwest 1/4 of SeCtiOn 14, TOwnship 41 North, Range 11 East of the Thir( Principal Meridian lying NOrth of the center line of Golf Road described as follows; Commencing at the point of inter- section on the North line of ~he West 1/2 of the Northwest 1/4 of Section 14 aforesaid, with the East line of the West 25 acres of the West 1/2 of the NorthWest 1/4 of Section '14 aforesaid; thence South along the East line of the West 25 acres of the West 1/2 of the Northwest 1/4 of Section 14 aforesaid to the center line of Golf Road; thence Northwest. erly along the center line of Golf Road to its interseCtion with the West line of the West 1/2 of the Northwest 1/4 of Section 14 aforesaid; thence North along the West line of the West 1/2 of the NorthweSt 1/4 aforesaid to the inter- section With a line which is the North !ine of LOts 2 and 2~ extended West in Busse Country Estates being a subdivisiOn of the West 25 acres 6f that part of the West 1/2 of the NorthWest 1/4 of Section 14, TOwnship 41 North, Range 11 East of the Third Principal Meridian lying North of Seegers oad know Golf Road); thence East along the said extension and along the North line of Lots 2 and 20 aforesaid to the Northeast corner of Lot 20 aforesaid also being the West line of Meyer Avenue as dedicated in Busse Country Estates subdivision aforesaid; thence North along the West line of Meyer Avenue as dedicated in Busse Country Estates subdivi- sion aforesaid and along its extension North to its inter- section with the North line of the West 1/2 of the North- west 1/4 of Section 14 aforesaid; thence East along the North line of the West 1/2 of the Northwest 1/4 of Section 14 aforesaid to the place of beginning. An accurate map of this territory is on file in the Office of the Village Clerk at Village Hall, 100 SoUth Emerson, Mount Prospect, Illinois and is available for public inspection. ~he purpose of the public hearing is to consider a proposal for providing special services to the above described territory in the form of the construction and installation of a water system ~onsisting of water mains, water lines, hydrants, meters and related appurtenant facilities to serve the above described territory. ~he estimated cost of said improvement and the costs and expense in connection therewith are Three Hundred Thirty Five Thousand Dollars ($335,000). It is proposed that bonds in an amount not in excess of the principal amount of $335,000 Shall be issued to pay such costs and expenses Said bonds shall be retired over ~ period not to exceed 20 years and at an interest rate not to ~xceed the greater of 9% per annum or 70% of the prime commercial rate in effect at the time the contract for the sale of the bonds is made. Prime commercial rate means such prime rate as from ~i~ to time is publicly announced by the largest commercial banking institution located in this State, measured in terms of total ~ssets. Such bonds, if issued, shall be retired by the levy of a direct tax to pay interest on such bonds as it becomes' due, and to dis- ~harge the principal thereof at maturity. Said tax is to be levied upon all taxable real property within the proposed Village Df Mount Prospect Special Service ~_rea Number Two and said tax shall be in addition to any other annual tax presently levied by any taxing authority within said special service area. Ail interested persons affected by Village of Mount Prospect Special Service Area Nu~er Two including all persons owning real estate and taxable personalty located within such territory, may file written objections with the Village Clerk and may be heard orally and may object orally at the public hearing to the formation and boundaries of the special service ~rea, the issuance of bonds and the levy or imposition of the taxes and amount thereof for the provision of special services to the area, or the retirement of such bonds, or both. The hearing may be adjourned by the Board to another date without further notice other than a motion to be entered upon the minutes of its meeting fixing the time and place of its adjournment. f a petition signed by a least 51 percent of the electors residing within the special service area and by at least 51 per- cent of the owners of record of the land included within the boundaries of the special service area as defined is filed with the Village Clerk within 60 days following the final adjournment of the public hearing objecting to the creation of the special service area, the levy or imposition of taxes and the amount thereof or the issuance of bonds for the provision of special services to the area, or to a proposed increase in the tax rate no such area may be created, tax levied or imposed nor rate increased, or bonds issued. Dated this day of , 1980. Carol A. Fields Village Clerk SECTION SIX: This Ordinance shall be in full force and effect from and after its passage, approval and publication in the man ner provided by law. Passed this 4th day of March , 1980. AYES: Farley, Flores, Miller, Wattenberg NAYS: None ABSENT: Murauskis, Richardson Approved this 4th day of March ' ' , 1980. Approved: _Villa'ge Clerk Village President 1 k ' I _.b //