Loading...
HomeMy WebLinkAboutRes 31-88 08/02/1988 RESOLUTION NO. 31 - 88 A RESOLUTION TO DETERMINE THE AMOUNTS OF MONEY ESTIMATED TO BE NECESSARY TO BE RAISED BY TAXATION BY THE VILLAGE OF MOUNT PROSPECT UPON THE TAXABLE PROPERTY WITHIN THE VILLAGE FOR THE YEAR COMMENCING MAY 1, 1988 AND ENDING APRIL 30, 1989 PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES THE 2nd DAY OF August, 1988. Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois, the 3rd day of August, 1988. RESOLUTION NO. 3l-88 A RESOLUTION TO DETERMINE THE AMOUNTS OF MONEY ESTIMATED TO BE NECESSARY TO BE RAISED BY TAXATION BY THE VILLAGE OF MOUNT PROSPECT UPON THE TAXABLE PROPERTY WITHIN THE VILLAGE FOR THE YEAR COMMENCING MAY 1, 1988 AND ENDING APRIL 30, 1989. WHEREAS, pursuant to Public Act 82-102 there has been enacted into law, effective July 29,1981, certain legislation entitled "The Truth in Taxation Act," as amended; and WHEREAS, pursuant to said Act any taxing body which proposes to adopt a tax levy in an aggregate amount of more than 105% of the amount of taxes extended on the tax levy in the preceding year on taxable property within such taxing body is required to make a determination as to such amounts to be levied, not less than twenty (20) days prior to the adoption of the tax levy, and is further required to hold a public hearing regarding the proposed tax levy, pursuant to the publication of a proper notice of hearing; and WHEREAS, on the 26th day of April, 1988 the Village of Mount Prospect adopted Ordinance No. 3932 approving the Annual Budget for the fiscal year from May 1,1988 to April 30,1989, covering the cost, expenses and liabilities of all general corporate and special municipal purposes and activities to be undertaken during the said fiscal year, and WHEREAS, pursuant to said Budget, the Village of Mount Prospect anticipates and determines that it shall require an aggregate tax levy of $7,267,155 exclusive of election costs and debt service, as more particularly set forth in attached Schedule A, upon all the taxable property within the Village, which proposed tax levy is an increase of $551,509 over the tax levy of $6,715,646 for the preceding fiscal year as extended; and WHEREAS, such proposed tax levy upon all the taxable property within the Village for the year beginning May 1, 1988 and ending April 30,1989 constitutes a tax increase of approximately 8.2% and it is deemed to be in the public interest that a public hearing be held with respect to the various aggregate tax levy amounts, as hereinafter set forth; and WHEREAS, in addition to the tax levy upon all the taxable property within the Village, the Village of Mount Prospect anticipates and determines that it shall require a tax levy of $1,326,640 exclusive of election costs and debt service, upon the taxable property of Special Service Area No.5 within the Village, which proposed tax levy is an increase of $142,140 over the tax levy of $1,184,500 of the preceding fiscal year as extended; and () ~ .! WHEREAS, such proposed Special Service Area No.5 tax levy for the year beginning May 1, 1988 and ending April 30, 1989 constitutes a tax increase of approximately 12.0% and it is deemed to be in the public interest that a public hearing be held with respect to the various tax levy amounts, as hereinafter set forth: NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF TRUSTEES OF THE VILLAGE OF MOU~T PROSPECT, COOK COUNTY ILLINOIS: SECT ION 1: This Board does hereby determine that the aggregate amount of. money to be levied (exclusive of any amounts levied for election costs and debt service) as necessary to be raised by taxation upon all the taxable property within this Village for the year commencing May 1,1988 and ending April 30, 1989, for general corporate and special municipal purposes, is estimated to be $7,267,155. SECTION 2: The amount herein above determined to be the aggregate tax levy upon all taxable property within the Village for the year commencing May 1,1988 and ending April 30, 1989 constitutes a proposed tax levy of approximately 108.2% of the property taxes extended upon the tax levy for the preceding year ending April 30, 1988; an aggregate tax levy increase of approximately 8.2%. SECTION 3: This Board does hereby determine that the aggregate amount of money to be levied (exclusive of any amounts levied for election costs and debt service) as necessary to be raised by taxation upon the taxable property within Special Service Area No.5 for the year commencing May 1, 1988 and ending April 30,1989, for special municipal purposes, is estimated to be $1,326,640. SECTION 4: The amounts herein above determined to be the aggregate tax levy upon the taxable property of Special Service Area No.5 within the Village for the year commencing May 1, 1988 and ending April 30, 1989 constitutes a proposed tax levy of approximately 112.0% of the property taxes extended upon the tax levy for preceding year ending April 30, 1988; an aggregate tax levy increase of approximately 12.0%. SECTION 5: A public hearing with respect to the intent of the President and Board of Trustees of this Village to adopt tax levy ordinances to establish and levy the amounts determined herein to be raised by taxation, shall be held in the Board Room in the Mount Prospect Senior Center, 50 South Emerson Street, Mount Prospect, Illinois at 7:30 p.m. o'clock C.D.T. on Tuesday, September 6, 1988. SECTION 6: The Village Clerk is herein authorized and directed to publish a notice of said public hearing in the Mount Prospect HERALD newspaper by no sooner than August 23, 1988 nor later than August 30, 1988, which notice shall be substantially as set forth in the attached Exhibit A and shall state in plain and simple language (1) the amount of property taxes, exclusive of election costs and debt service, extended or estimated to be extended upon all the taxable property within the Village for the preceding year ending April 30, 1988; (2) the amount of the proposed levy, exclusive of election costs and debt service, for the current year beginning May 1,1988; (3) the percentage increase or decrease in the amount of taxes to be levied; and (4) the date, time and place of the public hearing concerning the proposed tax levy. The form of notice shall be no less than 1/8th page in size and the smallest type used shall be twelve point and shall be enclosed in a black border no less than 1/4th inch wide. The notice shall not be placed in that portion of the newspaper where legal notices and classified advertisements appear. SECTION 7: The Village Clerk is herein authorized and directed to publish a notice of said public hearLng in the Mount Prospect HERALD newspaper by no sooner than August 23, 1988 nor later than August 30,1988, which notice shall be substantially as set forth in the attached Exhibit B and shall state in plain and simple language (1) the 'amount of property taxes, exclusive of election costs and debt service, extended or estimated to be extended upon the taxable property of Special Service Area No.5 within the Village for the preceding year ending April 30, 1988; (2) the amount of the proposed levy, exclusive of election costs and debt service, for the current year beginning May 1, 1988; (3) the percentage increase or decrease in the amount of taxes to be levied; and (4) the date, time and place of the public hearing concerning the proposed tax levy. The form of notice shall be no less than 1/8th page in size and the smallest type used shall be twelve point and shall be enclosed in a black border no less than 1/4th inch wide. The notice shall not be placed in that portion of the newspaper where legal notices and classified advertisements appear. SECTION 8: This Resolution shall be in full force and effect upon its passage and approval in accordance with law. PASSED AND APPROVED THIS 2nd DAY OF AUGUST, 1988. AYES: NAYS: ABSENT: ARTHUR, FARLEY, FLORaS, MURAUSKIS, VAN GEEM, WATTENBERG NONE NONE &~t;~ JI j!~~~ ð MA yoR ATTEST: ~~y~ VILLAGE CLERK r'\ ,. " ni~bit A VILLAGE Of MOUNT PROSPECT N&fICE Dr PUBLIC HEARING ON THE 1988 TAX LEVY NOTICE IS HEREBY GIVEN, that a public hearing shall be held in the Board Room of the Mount Prospect Senior Center, 50 South Emerson Street, Mount Prospect, Illinois at 7:30 p.m. o'clock C.O.T. on September 6,1988, regarding the action of the President and Board of Trustees of the Village of Mount Prospect to adopt a Tax Levy Ordinance upon all the taxable property within the Village for the fiscal year commencing May 1, 1988, and ending April 30, 1989, in the aggregate amount of $7,267,155 (exclusive of election costs and debt service) w~ich levy constitutes an increase of 8.2% over that tax levy extension of $6,715,646 levied by the Village of Mount Prospect for the preceding tax year. At said public hearing the President and Board of Trustees shall explain the reasons for the proposed increase in t,he tax levy and shall permit all persons desiring to be heard an opportunity to comment and present testimony thereon. Dated this 25th day of August, 1988 /s/ Carol A. Fields Village Clerk '-"'-"""""-~-' .. .,_..-.J.,.",~~='_",C '---,.'O,~- r1 f1iliit 8 - VILLAGE Of MOUNT PROSPECT NåTICE Dr PUBLIC HEARING ON THE 1988 TAX LEVY NOTICE IS HEREBY GIVEN, that a public hearing shall be held in the Board Room of the Mount Prospect Senior Center, 50 South Emerson Street, Mount Prospect, Illinois at 7:30 p.m. o'clock C.D.T. on September 6,1988, regarding the action of the President and Board of Trustees of the Village of Mount Prospect to adopt a Tax Levy Ordinance upon the taxable property of Special Service Area No.5 within the Village for the fiscal year commencing May 1,1988, and ending April 30,1989, in the aggregate amount of $1,326,640 (exclusive of election cost~ and debt service) which levy constitutes an increase of 12.0% over that tax levy 'extens~on of $1,184,500 levied by the Village of ~ount Prospect for the preceding tax year. At said public hearing 'the President and Board of Trustees shall explain the reasons for the proposed increase in the tax levy and shall permit all persons desiring to be heard an opportunity to comment and present testimony thereon. Dated this 25th day of August, 1988 Isl Carol A. Fields Village Clerk -'~ "',. " ",'!!,.