2004-112T •
ORDINANCE NO. 2004- 112
AN ORDINANCE ABATING TAXES LEVIED FOR THE
VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS
WHEREAS, the Village did on the 6th day of December, 2004 pass and approve Ordinance No. 2004 -108,
which ordinance provided for the levy of a direct tax on all property in the Village for the year 2004 for general
corporate, pension and debt service purposes in the Village of Buffalo Grove, in the amount of $10,695,888.50, a
certified copy of which was filed with the County Clerks of Cook and Lake Counties, Illinois and;
WHEREAS, the Village has sufficient funds on hand to pay either a portion, or the entire amount, of the taxes
levied in certain sections, as identified below, of Ordinance No. 2004 -108 for the fiscal year commencing May 1 st, 2004.
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE
VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS the following:
Section 1. Section 6 provided for the levy of a direct tax on all property in the Village for the year 2004 for the
repayment of principal and interest on the Corporate Purpose General Obligation Bonds -Series 2001 -A issued to fund the
construction of certain capital facilities at the Arboretum Golf Club (maintenance building and club house), in the Village
of Buffalo Grove in an amount equal to $234,717.50 and the Village has sufficient funds on hand to pay $84,717.50 of
the amount of the tax levied for the fiscal year commencing May 1st, and the levy of the entire $234,717.50 is
unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois to levy only
$150,000.00 and abate and not spread the sum of $84,717.50 hitherto provided for and levied in the ordinance providing
for the issuance of $4,500,000 of Corporate Purpose General Obligation Bonds -Series 2001 -A ofthe Village of Buffalo
Grove, being Ordinance No. 2001 -08, passed and approved on March 5, 2001, certified copies of which were filed with
the County Clerks of Cook and Lake Counties, Illinois.
Section 2. Section 7 provided for the levy of a direct tax on all property in the Village for the year 2004 for the
repayment of principal and interest on the Corporate Purpose General Obligation Bonds -Series 2001 -B issued for the
purpose of advance refunding certain maturities of the Corporate Purpose General Obligation Bonds Series 1992
(facilities development), Series 1994 (facilities development -Metra station) and Series 1995 (street maintenance), in the
Village of Buffalo Grove in an amount equal to $704,855.00 and the Village has sufficient funds on hand to pay
$204,855.00 of the amount of the tax levied for the fiscal year commencing May 1st, and the levy of the entire
$704,855.00 is unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois to levy only
$500,000.00 and abate and not spread the sum of $204,855.00 hitherto provided for and levied in the ordinance
providing for the issuance of $5,485,000 ofCorporate Purpose General Obligation Bonds -Series 2001 -B ofthe Village of
Buffalo Grove, being Ordinance No. 2001 -09, passed and approved on March 5, 2001, certified copies of which were
filed with the County Clerks of Cook and Lake Counties, Illinois.
Section 3. Section 8 provided for the levy of a direct tax on all property in the Village for the year 2004 for the
repayment of principal and interest on the Corporate Purpose General Obligation Bonds -Series 2002 -A issued for the
purpose of advance refunding certain maturities of the Corporate Purpose General Obligation Bonds Series 1993 -A
(facilities development - general [Series 1986] and Arboretum Golf Course Development [Series 1987]) in the Village of
Buffalo Grove in an amount equal to $655,950.00 and the Village has sufficient funds on hand to pay $498,215.75 ofthe
amount of the tax levied for the fiscal year commencing May 1 st, and the levy of the entire $655,950.00 is unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois to levy only
$157,734.25 and abate and not spread the sum of $498,215.75 hitherto provided for and levied in the ordinance
providing for the issuance of $3,075,000 of Corporate Purpose General Obligation Bonds -Series 1998 ofthe Village of
Buffalo Grove, being Ordinance No. 2002 -06, passed and approved on January 21, 2002, certified copies ofwhich were
filed with the County Clerks of Cook and Lake Counties, Illinois.
Section 4. Section 9 provided for the levy of a direct tax on all property in the Village for the year 2004 for the
repayment of principal and interest on the Corporate Purpose General Obligation Bonds -Series 2002 -B issued to fund the
construction of certain capital facilities at the Arboretum Golf Club (maintenance building and club house), in the Village
of Buffalo Grove in an amount equal to $148,490.00 and the Village has sufficient funds on hand to pay $148,490.00 of
the amount of the tax levied for the fiscal year commencing May 1st, and the levy of the entire $148,490.00 is
unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois to levy only
$0.00 and abate and not spread the sum of $148,940.00 hitherto provided for and levied in the ordinance providing for
the issuance of $1,000,000 of Corporate Purpose General Obligation Bonds -Series 2002 -B of the Village of Buffalo
Grove, being Ordinance No. 2002 -11, passed and approved on February 19, 2002, certified copies of which were filed
with the County Clerks of Cook and Lake Counties, Illinois.
Section 5. Section 10 provided for the levy of a direct tax on all property in the Village for the year 2004 for the
repayment of principal and interest on the Corporate Purpose General Obligation Bonds -Series 2003 issued to fund the
construction of certain capital improvements (street and highway commitments), in the Village of Buffalo Grove in an
amount equal to $299,925.00 and the Village has sufficient funds on hand to pay $144,200.00 of the amount of the tax
levied for the fiscal year commencing May 1st, and the levy of the entire $299,925.00 is unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois to levy only
$155,725.00 and abate and not spread the sum of $144,200.00 hitherto provided for and levied in the ordinance
providing for the issuance.of $2,600,000 of Corporate Purpose General Obligation Bonds -Series 2003 of the Village of
Buffalo Grove, being Ordinance No. 2003 -23, passed and approved on March 17, 2003, certified copies of which were
filed with the County Clerks of Cook and Lake Counties, Illinois.
Section 6. The following represents a summary of the amounts levied and, if applicable, abated for the year 2004
as part of Village Ordinance No. 2004 -108:
Levy
Section
Levy
Abatement
Net Levy
Corporate Purpose
2
$ 5,557,725
$ 0
$ 5,557,725
Illinois Municipal
3
1,098,780
0
1,098,780
Retirement Fund
Police Pension
4
993,597
0
993,597
Fire Pension
5
1,001,849
0
1,001,849
Corporate Purpose Bonds
Series 2001 -A
6
234,717
84,717
150,000
Corporate Purpose Bonds
Series 2001 -B
7
704,855
204,855
500,000
Corporate Purpose Bonds
Series 2002 -A
8
655,950
498,216
157,734
Corporate Purpose Bonds
Series 2002 -B
9
148,490
148,490
0
Corporate Purpose Bonds
Series 2003
10
299,925
144,200
155,725
Total
$10,695,888
$ 1,080,478
$9,615,410
Section 7. The Village Clerk is hereby authorized and directed to file a certified copy of this ordinance with the
County Clerks of Cook and Lake Counties, Illinois.
Section 8. This ordinance shall be in full force and effect from and after its passage and approval in the manner
provided by law. This ordinance shall not be codified.
AYES: 5 — Braiman, Glover, Berman, Johnson, Kahn, `1'
NAYES: 0 — None
ABSENT: ] — Tt lling
PASSED: December 20 ,2004 APPROVED: December 20 ,2004
illage President
ATTEST:
Village C rk
a
J
STATE OF ILLINOIS) ss.
COUNTY OF COOK )
CERTIFICATE
I, Janet M. Sirabian, certify that I am the duly elected
and acting Village Clerk of the Village of Buffalo
Grove, Cook and Lake Counties, Illinois.
I further certify that on December 20, 2004, the
Corporate Authorities of the Village passed and
approved Ordinance No. 2004 -112 entitled: AN
ORDINANCE ABATING TAXES LEVIED FOR THE
VILLAGE OF BUFFALO GROVE, COOK AND LAKE
COUNTIES, ILLINOIS - provided by its terms that it
should be published in pamphlet form.
The pamphlet form of Ordinance No. 2004 -112,
including the Ordinance and a sheet thereof, was
prepared, and a copy of such Ordinance was posted
in and at the Village Hall, commencing December
21, 2004, and continuing for at least ten days
thereafter. Copies of such Ordinance were also
available for public inspection upon request in the
Office of Village Clerk.
Dated at Buffalo Grove, Illinois, this 21st day of
December, 2004.
Village Jerk
By
■
ORDINANCE NO. 2004- 112
AN ORDINANCE ABATING TAXES LEVIED FOR THE
VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS
WHEREAS, the Village did on the 6th day of December, 2004 pass and approve Ordinance No. 2004 -108,
which ordinance provided for the levy of a direct tax on all property in the Village for the year 2004 for general
corporate, pension and debt service purposes in the Village of Buffalo Grove, in the amount of $10,695,888.50, a
certified copy of which was filed with the County Clerks of Cook and Lake Counties, Illinois and;
WHEREAS, the Village has sufficient funds on hand to pay either a portion, or the entire amount, of the taxes
levied in certain sections, as-identified below, of Ordinance No. 2004 -108 for the fiscal year commencing May 1st, 2004.
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE
VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS the following:
Section 1. Section 6 provided for the levy of a direct tax on all property in the Village for the year 2004 for the
repayment of principal and interest on the Corporate Purpose General Obligation Bonds -Series 2001 -A issued to fund the
construction of certain capital facilities at the Arboretum Golf Club (maintenance building and club house), in the Village
of Buffalo Grove in an amount equal to $234,717.50 and the Village has sufficient funds on hand to pay $84,717.50 of
the amount of the tax levied for the fiscal year commencing May 1st, and the levy of the entire $234,717.50 is
unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois to levy only
$150,000.00 and abate and not spread the sum of $84,717.50 hitherto provided for and levied in the ordinance providing
for the issuance of $4,500,000 of Corporate Purpose General Obligation Bonds - Series 2001 -A ofthe Village of Buffalo
Grove, being Ordinance No. 2001 -08, passed and approved on March 5, 2001, certified copies of which were filed with
the County Clerks of Cook and Lake Counties, Illinois.
Section 2. Section 7 provided for the levy of a direct tax on all property in the Village for the year 2004 for the
repayment of principal and interest on the Corporate Purpose General Obligation Bonds -Series 2001 -B issued for the
purpose of advance refunding certain maturities of the Corporate Purpose General Obligation Bonds Series 1992
(facilities development), Series 1994 (facilities development -Metra station) and Series 1995 (street maintenance), in the
Village of Buffalo Grove in an amount equal to $704,855.00 and the Village has sufficient funds on hand to pay
$204,855.00 of the amount of the tax levied for the fiscal year commencing May 1st, and the levy of the entire
$704;855.00 is unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois to levy only
$500,000.00 and abate and not spread the sum of $204,855.00 hitherto provided for and levied in the ordinance
providing for the issuance of $5,485,000 of Corporate Purpose General Obligation Bonds -Series 2001 -B ofthe Village of
Buffalo Grove, being Ordinance No. 2001 -09, passed and approved on March 5, 2001, certified copies of which were
filed with the County Clerks of Cook and Lake Counties, Illinois.
Section 3. Section 8 provided for the levy of a direct tax on all property in the Village for the year 2004 for the
repayment of principal and interest on the Corporate Purpose General Obligation Bonds -Series 2002 -A issued for the
purpose of advance refunding certain maturities of the Corporate Purpose General Obligation Bonds Series 1993 -A
(facilities development - general [Series 1986] and Arboretum Golf Course Development [Series 1987]) in the Village of
Buffalo Grove in an amount equal to $655,950.00 and the Village has sufficient funds on hand to pay $498,215.75 ofthe
amount of the tax levied for the fiscal year commencing May 1 st, and the levy of the entire $655,950.00 is unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois to levy only
$157,734.25 and abate and not spread the sum of $498,215.75 hitherto provided for and levied in the ordinance
providing for the issuance of $3,075,000 of Corporate Purpose General Obligation Bonds -Series 1998 ofthe Village of
Buffalo Grove, being Ordinance No. 2002 -06, passed and approved on January 21, 2002, certified copies ofwhich were
filed with the County Clerks of Cook and Lake Counties, Illinois.
Section 4. Section 9 provided for the levy of a direct tax on all property in the Village for the year 2004 for the
repayment of principal and interest on the Corporate Purpose General Obligation Bonds -Series 2002 -B issued to fund the
construction of certain capital facilities at the Arboretum Golf Club (maintenance building and club house), in the Village
of Buffalo Grove in an amount equal to $148,490.00 and the Village has sufficient funds on hand to pay $148,490.00 of
the amount of the tax levied for the fiscal year commencing May 1st, and the levy of the entire $148,490.00 is
unnecessary.
4
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois to levy only
$0.00 and abate and not spread the sum of $148,940.00 hitherto provided for and levied in the ordinance providing for
the issuance of $1,000,000 of Corporate Purpose General Obligation Bonds -Series 2002 -B of the Village of Buffalo
Grove, being Ordinance No. 2002 -11, passed and approved on February 19, 2002, certified copies of which were filed
with the County Clerks of Cook and Lake Counties, Illinois.
Section 5. Section 10 provided for the levy of a direct tax on all property in the Village for the year 2004 for the
repayment of principal and interest on the Corporate Purpose General Obligation Bonds -Series 2003 issued to fund the
construction of certain capital improvements (street and highway commitments), in the Village of Buffalo Grove in an
amount equal to $299,925.00 and the Village has sufficient funds on hand to pay $144,200.00 of the amount of the tax
levied for the fiscal year commencing May lst, and the levy of the entire $299,925.00 is unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois to levy only
$155,725.00 and abate and not spread the sum of $144,200.00 hitherto provided for and levied in the ordinance
providing for the issuance of $2,600,000 of Corporate Purpose General Obligation Bonds -Series 2003 ofthe Village of
Buffalo Grove, being Ordinance No. 2003 -23, passed and approved on March 17, 2003, certified copies of which were
filed with the County Clerks of Cook and Lake Counties, Illinois.
Section 6. The following represents a summary of the amounts levied and, if applicable, abated for the year 2004
as part of Village Ordinance No. 2004 -108:
Lev
Corporate Purpose
Illinois Municipal
Retirement Fund
Police Pension
Fire Pension
Corporate Purpose Bonds
Series 2001 -A
Corporate Purpose Bonds
Series 2001 -B
Corporate Purpose Bonds
Series 2002 -A
Corporate Purpose Bonds
Series 2002 -B
Corporate Purpose Bonds
Series 2003
Total
Section
Levy
Abatement
Net Levy
2
$ 5,557,725
$ 0
$ 5,557,725
3
1,098,780
0
1,098,780
4
993,597
0
993,597
5
1,001,849
0
1,001,849
6
234,717
84,717
150,000
7
704,855
204,855
500,000
8
655,950
498,216
157,734
9
148,490
148,490
0
10
299,925
144,200
155,725
$10,695,888
$ 1,080,478
$9,615,410
Section 7. The Village Clerk is hereby authorized and directed to file a certified copy of this ordinance with the
County Clerks of Cook and Lake Counties, Illinois.
Section 8. This ordinance shall be in full force and effect from and after its passage and approval in the manner
provided by law. This ordinance shall not be codified.
AYES: 6 — Braiman, Glover, Berman, Johnson, Kahn, Trilling
NAYES: 0 — None
ABSENT: 0 — None
PASSED: December 20 ,2004 APPROVED: December 20 ,2004
J
l
illage President
ATTEST:
Village C rk