2005-080ORDINANCE NO.2005 -0(
AN ORDINANCE ABATING TAXES LEVIED FOR THE
VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS
WHEREAS, the Village did on the 5th day of December, 2005 pass and approve Ordinance No. 2005 -76, which
ordinance provided for the levy of a direct tax on all property in the Village for the year 2005 for general corporate,
pension and debt service purposes in the Village of Buffalo Grove, in the amount of $11,407,442.50, 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. 2005 -76 for the fiscal year commencing May 1 st, 2005.
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 2005 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 $358,592.50 and the Village has sufficient funds on hand to pay $208,592.50 of
the amount of the tax levied for the fiscal year commencing May 1st, and the levy of the entire $358,592.50 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 $208,592.50 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 ofwhich 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 2005 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 $753,015.00 and the Village has sufficient funds on hand to pay
$270,000.00 of the amount of the tax levied for the fiscal year commencing May 1st, and the levy of the entire
$753,015.00 is unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois to levy only
$483,015.00 and abate and not spread the sum of $270,000.00 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 2005 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 19861 and Arboretum Golf Course Development [Series 1987]) in the Village of
Buffalo Grove in an amount equal to $327,500.00 and the Village has sufficient funds on hand to pay $231,560.00 ofthe
amount of the tax levied for the fiscal year commencing May 1 st, and the levy of the entire $327,500.00 is unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois to levy only
$95,940.00 and abate and not spread the sum of $231,560.00 hitherto provided for and levied in the ordinance providing
for the issuance of $3,075,000 of Corporate Purpose General Obligation Bonds - Series 1998 of the Village of Buffalo
Grove, being Ordinance No. 2002 -06, passed and approved on January 21, 2002, certified copies of which 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 2005 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 $149,177.50 and the Village has sufficient funds on hand to pay $149,177.50 of
the amount of the tax levied for the fiscal year commencing May 1st, and the levy of the entire $149,177.50 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 $149,177.50 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 2005 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 $303,255.00 and the Village has sufficient funds on hand to pay $150,000.00 of the amount of the tax
levied for the fiscal year commencing May 1 st, and the levy of the entire $303,255.00 is unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois to levy only
$153,255.00 and abate and not spread the sum of $150,000.00 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 2005
as part of Village Ordinance No. 2005 -76:
Levv
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
$ 5,763,970
$ 0
$ 5,763,970
3
1,178,480
0
1,178,480
4
1,413,565
0
1,413,565
5
1,159,887
0
1,159,887
6
358,593
208,593
150,000
7
753,015
270,000
483,015
8
327,500
231,560
95,940
9
149,177
149,177
0
10
303,255
150,000
153,255
$11,407,442
$ 1,009,330
$10,398,112
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, Kahn, Trilling, Rubin
NAYES: 0 — None
ABSENT: 0 — None
PASSED: nec,ember 19 ,2005 APPROVED: December 19 ,2005
Village President
ATTEST:
Villa Jerk
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 19, 2005 the
Corporate Authorities of the Village passed and
approved Ordinance No. 2005 -80 entitled: An
Ordinance Abating Taxes for the Village of
Buffalo Grove, Cook & Lake Counties, Illinois
provided by its terms that it should be published in
pamphlet form.
The pamphlet form of Ordinance No. 2005 -80,
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
20, 2005, 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 20th day of
December, 2005.
r1 "
VIII
/ / / '&
V 1 age Clerk n -
LIM
l
I
is
ORDINANCE NO. 2005-80
AN ORDINANCE ABATING TAXES LEVIED FOR THE
VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS
WHEREAS, the Village did on the 5th day of December, 2005 pass and approve Ordinance No. 2005 -76, which
ordinance provided for the levy of a direct tax on all property in the Village for the year 2005 for general corporate,
pension and debt service purposes in the Village of Buffalo Grove, in the amount of $11,407,442.50, 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, ofthe taxes
levied in certain sections, as identified below, of Ordinance No. 2005 -76 for the fiscal year commencing May 1st, 2005.
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 2005 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 $358,592.50 and the Village has sufficient funds on hand to pay $208,592.50 of
the amount of the tax levied for the fiscal year commencing May 1st, and the levy of the entire $358,592.50 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 $208,592.50 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 ofwhich 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 2005 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 $753,015.00 and the Village has sufficient funds on hand to pay
$270,000.00 of the amount of the tax levied for the fiscal year commencing May 1st, and the levy of the entire
$753,015.00 is unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois to levy only
$483,015.00 and abate and not spread the sum of $270,000.00 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 2005 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 $327,500.00 and the Village has sufficient funds on hand to pay $231,560.00 ofthe
amount of the tax levied for the fiscal year commencing May 1 st, and the levy of the entire $327,500.00 is unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois to levy only
$95,940.00 and abate and not spread the sum of $231,560.00 hitherto provided for and levied in the ordinance providing
for the issuance of $3,075,000 of Corporate Purpose General Obligation Bonds -Series 1998 of the Village of Buffalo
Grove, being Ordinance No. 2002 -06, passed and approved on January 21, 2002, certified copies of which 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 2005 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 $149,177.50 and the Village has sufficient funds on hand to pay $149,177.50 of
the amount of the tax levied for the fiscal year commencing May 1st, and the levy of the entire $149,177.50 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 $149,177.50 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 2005 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 $303,255.00 and the Village has sufficient funds on hand to pay $150,000.00 of the amount of the tax
levied for the fiscal year commencing May 1 st, and the levy of the entire $303,255.00 is unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois to levy only
$153,255.00 and abate and not spread the sum of $150,000.00 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 2005
as part of Village Ordinance No. 2005 -76:
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
$ 5,763,970
$ 0
$ 5,763,970
3
1,178,480
0
1,178,480
4
1,413,565
0
1,413,565
5
1,159,887
0
1,159,887
6
358,593
208,593
150,000
7
753,015
270,000
483,015
8
327,500
. 231,560
95,940
9
149,177
149,177
0
10
303,255
150,000
153,255
$11,407,442
$ 1,009,330
$10,398,112
Section 7. 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 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., Kahn, Trilling, Rubin
NAYES: 0 — None
ABSENT: 0 — None
PASSED: December 19 ,2005 APPROVED: December 19 ,2005
Village President
ATTEST:
Villa Jerk