2010-068•
ORDINANCE NO. 2010- 68
0
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, 2010 pass and approve Ordinance No. 2010 -63, which
ordinance provided for the levy of a direct tax on all property in the Village for the year 2010 for general corporate,
pension and debt service purposes in the Village of Buffalo Grove, in the amount of $14,411,796, 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. 2010 -63 for the fiscal year commencing January 1 st,
2011.
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 2010 for the
repayment of principal and interest on the Corporate Purpose General Obligation Bonds - Series 2010A 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 $742,825.00 and the Village has sufficient funds on hand to pay
$200,000.00 of the amount of the tax levied for the fiscal year commencing Januarylst, and the levy of the entire
$742,825.00 is unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois to levy only
$542,825.00 and abate and not spread the sum of $200,000.00 hitherto provided for and levied in the ordinance
providing for the issuance of $5,160,000 of Corporate Purpose General Obligation Bonds - Series 2010A of the Village of
Buffalo Grove, being Ordinance No. 2010 -23, passed and approved on April 19, 2010, certified copies of which were
filed with the County Clerks of Cook and Lake Counties, Illinois.
Section 2. The following represents a summary ofthe amounts levied and, if applicable, abated for the year 2010
as part of Village Ordinance No. 2010 -63:
Levy
Section
Levy
Abatement
Net Lev
Corporate Purpose
2
$7,447,161.00
$0.00
$7,447,161.00
Illinois Municipal Retirement Fund
3
$1,546,972.00
$0.00
$1,546,972.00
Police Pension
4
$2,145,917.00
$0.00
$2,145,917.00
Fire Pension
5
$1,970,913.00
$0.00
$1,970,913.00
Corporate Purpose Bonds Series 2010A
6
$742,825.00
$200,000.00
$542,825.00
Corporate Purpose Bonds Series 2010B
7
$88,263.00
$0.00
$88,263.00
Corporate Purpose Bonds Series 2002B
8
$145,740.00
$0.00
$145,740.00
Corporate Purpose Bonds Series 2003
9
$324,005.00
$0.00
$324,005.00
Total
$14,411,796.00
$200,000.00
$14,211,796.00
Section 3. 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 4. 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, Trilling, Sussman, Smith
NAYES: 0 — None
ABSENT: 0 — None
PASSED: December 20,2010 APPROVED: December 20,2010
illage President
ATTEST:
Village
A.
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, 2010 the Corporate
Authorities of the Village passed and approved
Ordinance No. 2010 -68, AN ORDINANCE
ABATING TAXES LEVIED FOR THE VILLAGE
OF BUFFALO GROVE, COOK AND LAKE
COUNTIES, ILLINOIS The pamphlet form of
Ordinance No, 2010 -68 including the Ordinance and
a sheet thereof, was prepared, and a copy of such
Ordinance was posted in and at the Village Hall,
commencing on December 21, 2010 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 21 st day of
December, 2010.
�. a.�
Villag Clerk
By
F-
11
ORDINANCE NO. 2010- 68
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, 2010 pass and approve Ordinance No. 2010 -63, which
ordinance provided for the levy of a direct tax on all property in the Village for the year 2010 for general corporate,
pension and debt service purposes in the Village of Buffalo Grove, in the amount of $14,411,796, 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. 2010 -63 for the fiscal year commencing January 1 st,
2011.
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 2010 for the
repayment of principal and interest on the Corporate Purpose General Obligation Bonds - Series 2010A 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 $742,825.00 and the Village has sufficient funds on hand to pay
$200,000.00 of the amount of the tax levied for the fiscal year commencing Januarylst, and the levy of the entire
$742,825.00 is unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois to levy only
$542,825.00 and abate and not spread the sum of $200,000.00 hitherto provided for and levied in the ordinance
providing for the issuance of $5,160,000 of Corporate. Purpose General Obligation Bonds - Series 2010A ofthe Village of
Buffalo Grove, being Ordinance No. 2010 -23, passed and approved on April 19, 2010, certified copies of which were
filed with the County Clerks of Cook and Lake Counties, Illinois.
Section 2. The following represents a summary of the amounts levied and, if applicable, abated for the year 2010
as part of Village Ordinance No. 2010 -63:
Levy
Section
Levy
Abatement
Net Lev
Corporate Purpose
2
$7,447,161.00
$0.00
$7,447,161.00
Illinois Municipal Retirement Fund
3
$1,546,972.00
$0.00
$1,546,972.00
Police Pension
4
$2,145,917.00
$0.00
$2,145,917.00
Fire Pension
5
$1,970,913.00
$0.00
$1,970,913.00
Corporate Purpose Bonds Series 2010A
6
$742,825.00
$200,000.00
$542,825.00
Corporate Purpose Bonds Series 2010B
7
$88,263.00
$0.00
$88,263.00
Corporate Purpose Bonds Series 2002B
8
$145,740.00
$0.00
$145,740.00
Corporate Purpose Bonds Series 2003
9
$324,005.00
$0.00
$324,005.00
Total
$14,411,796.00
$200,000.00
$14,211,796.00
Section 3. 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 4. 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, Trilling, Sussman, Smith
NAYES: 0 — None
ABSENT: 0 — None
PASSED: December 20,20 10 APPROVED: December 20,20 10
-- -
M04
Village President
ATTEST:
Village Cle