2004-113W
ORDINANCE NO. 2004- 113
AN ORDINANCE ABATING SPECIAL SERVICE AREA 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
(Section 11) which ordinance provided for the levy of a direct tax for the year 2004 for Special Service Area debt service
purposes in the Village of Buffalo Grove, in the amount of $1,498,681.88, 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 a portion ofthe amount, ofthe taxes levied
in section, as identified below, of Ordinance No. 2004 -108 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 11 reaffirmed the levies of a direct tax on all property in Village of Buffalo Grove Special
Service Areas No 1, 2 and 3 all in accordance with the Illinois Revenue Code (Chapter 35, ILCS, Section 200/27 -75 for
the repayment of principal and interest on Special Service Area General Obligation Bonds, in an amount equal to
$1,498,681.88. The Village has sufficient funds on hand to pay $425,535.00 of the above tax levied for the fiscal year
commencing May 1St, and the levy of the entire $1,498,681.88 is unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois to levy only
$1,073,147.00 and abate and not spread the sum of $425,535.00 hitherto provided for and levied as follows:
Section 2. 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 3. 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,
NAYES: 0 — None
ABSENT: 1 — 'Tri
PASSED: December 20 ,2004 APPROVED: December 20 ,2004
Village President
ATTEST:
Villa Jerk
Levy
Abatement
Net Levy
Special Service Area #1:
$ 718,200.00
$ 286,337.00
$ 431,863.00
Ordinance No. 97 -24
Special Service Area #2:
313,197.00
80,145.00
233,052.00
Ordinance No. 94 -10
Special Service Area 43:
467,285.00
59,053.00
408,232.00
Ordinance No. 93 -78
Total
$1.498,682.00
$ 425,535.00
$1,073,147.00
Section 2. 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 3. 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,
NAYES: 0 — None
ABSENT: 1 — 'Tri
PASSED: December 20 ,2004 APPROVED: December 20 ,2004
Village President
ATTEST:
Villa Jerk
0
VILLAGE OF BUFFALO GROVE
SPECIAL SERVICE AREA BOND DEBT
DEBT SERVICE DUE W/TAX LEVY AND SURPLUS DISTRIBUTION
REMAINING SURPLUS IS BASED ON CASH BALANCE (AS OF DECEMBER
1, 2004) LESS
12101/04 AND 06101105 PAYMENT
SPECIAL SERVICE AREA #1:
PAYMENT
COLLECTION
PROPOSED
REMAINING
DATE
PRINCIPAL
INTEREST
TOTAL
LEVY
LEVY YEAR
YEAR
ABATEMENT
SURPLUS
NET LEVY
12/112001*
750,000.00
101,293.75
851,293.75
0.00
6/1/2002*
82,543.75
82,543.75
933,837.50
2000
2001
0.00
282,036.00
933,837.50
1211/2002*
775,000.00
82,543.75
857,543.75
6/112003*
63,168.75
63,168.75
920,712.50
2001
2002
0.00
567,285.75
920,712.50
1211/2003*
825,000.00
63,168.75
888,168.75
6/1/2004*
42,543.75
42,543.75
930,712.50
2002
2003
0.00
892,343.85
930,712.50
12/01/04
950,000.00
42,543.75
992,543.75
06/01/05
18,200.00
18,200.00
1,010,743.75
2003
2004
286,417.02
286,336.71
724,326.73
12101/05
700,000.00
18,200.00
718,200.00
718,200.00
2004
2005
286,336.71
0.00
431,863.29
TOTAL
4,000,000.00
514,206.25
4,514,206.25
4,514,206.25
572,753.73
-
3,941,452.52
SPECIAL SERVICE AREA #2:
PAYMENT
COLLECTION
PROPOSED
REMAINING
DATE
PRINCIPAL
INTEREST
TOTAL
LEVY
LEVY YEAR
YEAR
ABATEMENT
SURPLUS
NET LEVY
12/1/2001*
240,000.00
35,247.50
275,247.50
0.00
6/1/2002*
29,487.50
29,487.50
304,735.00
2000
2001
0.00
131,083.71
304,735.00
12/112002*
260,000.00
29,487.50
289,487.50
6/1/2003*
22,987.51
22,987.51
312,475.01
2001
2002
0.00
71,760.42
312,475.01
12/1/2003*
275,000.00
22,987.50
297,987.50
6/1/2004*
15,940.63
15,940.63
313,928.13
2002
2003
0.00
245,350.32
313,928.13
12/1/2004*
295,000.00
15,940.63
310,940.63
06/01/05
8,196.88
8,196.88
319,137.51
2003
2004
40,110.63
80,145.44
279,026.88
12/01/05
305,000.00
8,196.88
313,196.88
313,196.88
2004
2005
80,145.44
0.00
233,051.44
TOTAL
1,375,000.00
188,472.53
1,563,472.53
1,563,472.53
120,256.07
-
1,443,216.46
SPECIAL SERVICE AREA #3:
PAYMENT
COLLECTION
PROPOSED
REMAINING
DATE
PRINCIPAL
INTEREST
TOTAL
LEVY
LEVY YEAR
YEAR
ABATEMENT
SURPLUS
NET LEVY
12/1/2001*
355,000.00
51,848.75
406,848.75
0.00
6/1/2002*
43,151.25
43,151.25
450,000.00
2000
2001
0.00
83,458.56
450,000.00
1211/2002*
375,000.00
43,151.25
418,151.25
6/1/2003*
33,776.25
33,776.25
451,927.50
2001
2002
0.00
71,786.48
451,927.50
1211/2003*
395,000.00
33,776.25
428,776.25
6/1/2004*
23,703.75
23,703.75
452,480.00
2002
2003
0.00
288,742.34
452,480.00
12/1/2004'
435,000.00
23,703.75
458,703.75
06/01/05
12,285.00
12,285.00
470,988.75
2003
2004
39,489.55
59,053.68
431,499.20
12/01/05
455,000.00
12,285.00
467,285.00
467,285.00
2004
2005
59,053.68
0.00
408,231.32
TOTAL
2,015,000.00
277,681.25
2,292,681.25
2,292,681.25
98,543.23
-
2,194,138.02
Y
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 -113 entitled: AN
ORDINANCE ABATING SPECIAL SERVICE AREA 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 -113,
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.
r 1
Villag erk
Ia
ORDINANCE NO. 2004- 113
AN ORDINANCE ABATING SPECIAL SERVICE AREA 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
(Section 11) which ordinance provided for the levy of a direct tax for the year 2004 for Special Service Area debt service
purposes in the Village of Buffalo Grove, in the amount of $1,498,681.88, 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 a portion ofthe amount; ofthe taxes levied
in section, as identified below, of Ordinance No. 2004 -108 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 11 reaffirmed the levies of a direct tax on all property in Village of Buffalo Grove Special
Service Areas No 1, 2 and 3 all in accordance with the Illinois Revenue Code (Chapter 35, ILCS, Section 200/27 -75 for
the repayment of principal and interest on Special Service Area General Obligation Bonds, in an amount equal to
$1,498,681.88. The Village has sufficient funds on hand to pay $425,535.00 of the above tax levied for the fiscal year
commencing May I'`, and the levy of the entire $1,498,681.88 is unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois to levy only
$1,073,147.00 and abate and not spread the sum of $425,535.00 hitherto provided for and levied as follows:
Section 2. The Village Clerk is hereby authorized and directed to file a certified copy ofthis ordinance with the
County Clerks of Cook and Lake Counties, Illinois.
Section 3. 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
Village President
ATTEST:
Villa Jerk
Levy
Abatement
Net Levy
Special Service Area #1:
$ 718,200.00
$ 286,337.00
$ 431,863.00
Ordinance No. 97 -24
Special Service Area #2:
313,197.00
80,145.00
233,052.00
Ordinance No. 94 -10
Special Service Area #3:
467,285.00
59,053.00
408,232.00
Ordinance No. 93 -78
Total
$1.498,682.00
$ 425,535.00
$1,073,147.00
Section 2. The Village Clerk is hereby authorized and directed to file a certified copy ofthis ordinance with the
County Clerks of Cook and Lake Counties, Illinois.
Section 3. 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
Village President
ATTEST:
Villa Jerk
N.
VILLAGE OF BUFFALO GROVE
SPECIAL SERVICE AREA BOND DEBT
DEBT SERVICE
DUE W/TAX LEVY AND SURPLUS DISTRIBUTION
REMAINING SURPLUS IS BASED ON CASH
BALANCE (AS
OF DECEMBER
1, 2004) LESS 12/01/04 AND
06/01105 PAYMENT
SPECIAL SERVICE AREA #1:
PAYMENT
COLLECTION
PROPOSED
REMAINING
DATE
PRINCIPAL
INTEREST
TOTAL
LEVY
LEVY YEAR
YEAR
ABATEMENT
SURPLUS
NET LEVY
12/1/2001*
750,000.00
101,293.75
851,293.75
0.00
6/1/2002*
82,543.75
82,543.75
933,837.50
2000
2001
0.00
282,036.00
933,837.50
12/1/2002*
775,000.00
82,543.75
857,543.75
6/1/2003*
63,168.75
63,168.75
920,712.50
2001
2002
0.00
567,285.75
920,712.50
12/1/2003*
825,000.00
63,168.75
888,168.75
6/1/2004*
42,543.75
42,543.75
930,712.50
2002
2003
0.00
892,343.85
930,712.50
12101/04
950,000.00
42,543.75
992,543.75
06/01/05
18,200.00
18,200.00
1,010,743.75
2003
2004
286,417.02
286,336.71
724,326.73
12/01/05
700,000.00
18,200.00
718,200.00
718,200.00
2004
2005
286,336.71
0.00
431,863.29
TOTAL
4,000,000.00
514,206.25
4,514,206.25
4,514,206.25
572,753.73
-
3,941,452.52
SPECIAL SERVICE AREA #2:
PAYMENT
COLLECTION
PROPOSED
REMAINING
DATE
PRINCIPAL
INTEREST
TOTAL
LEVY
LEVY YEAR
YEAR
ABATEMENT
SURPLUS
NET LEVY
12/112001*
240,000.00
35,247.50
275,247.50
0.00
6/1/2002*
29,487.50
29,487.50
304,735.00
2000
2001
0.00
131,083.71
304,735.00
12/1/2002*
260,000.00
29,487.50
289,487.50
6/1/2003*
22,987.51
22,987.51
312,475.01
2001
2002
0.00
71,760.42
312,475.01
12/1/2003*
275,000.00
22,987.50
297,987.50
6/1/2004*
15,940.63
15,940.63
313,928.13
2002
2003
0.00
245,350.32
313,928.13
1211/2004*
295,000.00
15,940.63
310,940.63
06/01105
8,196.88
8,196.88
319,137.51
2003
2004
40,110.63
80,145.44
279,026.88
12/01/05
305,000.00
8,196.88
313,196.88
313,196.88
2004
2005
80,145.44
0.00
233,051.44
TOTAL
1,375,000.00
188,472.53
1,563,472.53
1,563,472.53
120,256.07
-
1,443,216.46
SPECIAL SERVICE AREA #3:
PAYMENT
COLLECTION
PROPOSED
REMAINING
DATE
PRINCIPAL
INTEREST
TOTAL
LEVY
LEVY YEAR
YEAR
ABATEMENT
SURPLUS
NET LEVY
12/1/2001*
355,000.00
51,848.75
406,848.75
0.00
6/112002*
43,151.25
43,151.25
450,000.00
2000
2001
0.00
83,458.56
450,000.00
1211/2002*
375,000.00
43,151.25
418,151.25
6/1/2003*
33,776.25
33,776.25
451,927.50
2001
2002
0.00
71,786.48
451,927.50
1211/2003*
395,000.00
33,776.25
428,776.25
6/1/2004*
23,703.75
23,703.75
452,480.00
2002
2003
0.00
288,742.34
452,480.00
1211/2004*
435,000.00
23,703.75
458,703.75
06/01/05
12,285.00
12,285.00
470,988.75
2003
2004
39,489.55
59,053.68
431,499.20
12101/05
455,000.00
12,285.00
467,285.00
467,285.00
2004
2005
59,053.68
0.00
408,231.32
TOTAL
2,015,000.00
277,681.25
2,292,681.25
2,292,681.25
98,543.23
-
2,194,138.02