2011-060ORDINANCE NO. 2011- 60
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, 2011 pass and approve Ordinance No. 2011 -58, which
ordinance provided for the levy of a direct tax on all property in the Village for the year 2011 for general corporate,
pension and debt service purposes in the Village of Buffalo Grove, in the amount of $14,401,796, 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. 2011 -58 for the fiscal year commencing January 1st,
2012.
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 7 provided for the levy of a direct tax on all property in the Village for the year 2011 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 $725,425.00 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
$725,425.00 is unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois to levy only
$525,425.00 and abate and not spread the sum of $200,000.00 hitherto provid ed 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 of the amounts levied and, if applicable, abated for the year
2011 as part of Village Ordinance No. 2011 -58:
Levy
Section
Levy
Abatement
Net Levy
Corporate Purpose
2
$7,530, 100.00
$0.00
$7,530,100.00
Illinois Municipal Retirement Fund
3
$839,794.00
$0.00
$839,794.00
Social Security Fund
4
$729,611.00
$0.00
$729,611.00
Police Pension
5
$2,159,838.00
$0.00
$2,159,838.00
Fire Pension
6
$2,003,757.00
$0.00
$2,003,757.00
Corporate Purpose Bonds Series 2010A
7
$725,425.00
$200,000.00
$525,425.00
Corporate Purpose Bonds Series 2010B
8
$88,263.00
$0.00
$88,263.00
Corporate Purpose Bonds Series 2003
9
$325,008.00
$0.00
$325,008.00
Total
$14,401,796.00
$200,000.00
$14,201,796.00
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: 5 — Berman, Trilling, Sussman, Terson, Ottenheimer
NAYES: 0 - -None ._
ABSENT: 1 - Stein
PASSED: December 19 ,2011
ATTEST:
Villag erk
a�
0
0
Village of Buffalo Grove
Final Distribution of 2011 Property Tax
Cook County Cook Lake County Lake 2011 Total 2010
2011 2010
After Tax Abatement Consideration
Levy* County Levy* County Extension Levy Request
Weighted Weighted
With Estimated Assessed Valuation
23.08% Rate (1) 76.92% Rate (1) 100.00% 100.00%
Rate (1) Rate (1)
Tax Levies:
509,577.15 0.1324 1,698,296.11
0.1306
2,207,873.26
2,183,505.34
0.1310
0.1296
Corporate
Street and Bridge
162,501.82 0.0422 541,578.85
0.0416
704,080.67
696,309.85
0.0418
0.0413
Street Lighting
55,094.20 0.0143 183,615.51
0.0141
238,709.71
236,075.11
0.0142
0.0140
Police Protection
122,180.51 0.0318 407,197.78
0.0313
529,378.29
523,535.63
0.0314
0.0311
Fire Protection
873,686.25 0.2271 2,911,782.78
0.2239
3,785,469.03
3,743,689.46
0.2246
0.2221
ESDA
2,915.04 0.0008 9,715.11
0.0007
12,630.15
12,660.18
0.0007
0.0008
Crossing Guard
11,992.11 0.0031 39,966.78
0.0031
51,958.89
51,385.43
0.0031
0.0030
1,737,947.08 0.4517 5,792,152.92
0.4453
7,530,100.00
7,447,161.00
0.4468
0.4419
Sub- Total:Corporate
362,218.67 0.0941 1,207,186.33
0.0928
1,569,405.00
1,546,972.00
0.0931
0.0918
IMRF /Social Security
Arboretum Golf Course (Series 20026)
0.00 0.0000 0.00
0.0000
0.00
145,740.00
0.0000
0.0086
Corp. Purpose Bonds Facilities (2003)
75,011.85 0.0195 249,996.15
0.0192
325,008.00
324,005.00
0.0193
0.0192
Corp. Purpose Bonds Facilities (2010A)
121,268.09 0.4035 404,156.91
0.0311
525,425.00
542,825.00
0.0312
0.0322
Corp. Purpose Bonds Facilities (2010B)
20,371.10 0.0053 67,891.90
0.0052
88,263.00
88,263.00
0.0052
0.0052
Police Pension
498,490.61 0.1296 1,661,347.39
0.1277
2,159,838.00
2,145,917.00
0.1282
0.1273
Fire Pension
462,467.12 0.1202 1,541,289.88
0.1185
2,003,757.00
1,970,913.001
0.1189
0.1169
Total
3,277,774.52 0.7743 10,924,021.48 0.8399 14,201,796.00 14,211,796.001
0.8426
0.8432
Estimate Equalized Assessed Valuation
Cook County
384,762,390
Initial Rates:
2011
2010
Lake County
1,300,633,358
Corporate & Debt Service
0.5025
0.4133
Total
1,685,395,748
Pension Obligations
0.3402
0.3754
0.8426
0.7887
Net Levy Request (post abatement) Tax Year 2011 vs. 2010 Request vs.
2010 final extension
Dollar Percentage
2010
Dollar
Percentage
2011 Request
2010 Request
Change Change
Extension
Change
Change
Corporate
7,530,100.00
7,447,161.00
82,939.00 1.11%
7,414,210.02
115,889.98
1.56%
Special Purpose - IMRF
1,569,405.00
1,546,972.00
22,433.00 1.45%
1,534,456.46
34,948.54
2.28%
Pension
4,163,595.00
4,116,830.00
46,765.00 1.14%
4,140,139.44
23,455.56
0.57%
Debt Service
938,696.00
1,100,833.00
(162,137.00) - 14.73%
1,102,906.40
(164,210.40)
- 14.89%
Total
14,201,796.00
14,211,796.00
(10,000.00) - 0.07%
14,191,712.32
10,083.68
0.07%
* Pecentage of distribution for levy purposes is based upon final percent of tax distribution apportionment used for the 2010 levy.
(1) per $100 EAV
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, 2011, the Corporate
Authorities of the Village passed and approved
Ordinance No. 2011 -60 AN ORDINANCE ABATING
TAXES LEVIED FOR THE VILLAGE OF BUFFALO
GROVE, COOK AND LAKE COUNTIES, ILLINOIS
prepared, and a copy of such Ordinance was posted
in and at the Village Hall, commencing on December
19, 2011 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 20'h day of
December, 2011.
Villag lerk
By
i
J
ORDINANCE NO. 2011- 60
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, 2011 pass and approve Ordinance No. 2011 -58, which
ordinance provided for the levy of a direct tax on all property in the Village for the year 2011 for general corporate,
pension and debt service purposes in the Village of Buffalo Grove, in the amount of $14,401,796, 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. 2011 -58 for the fiscal year commencing January 1st,
2012.
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 7 provided for the levy of a direct tax on all property in the Village for the year 2011 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 $725,425.00 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 January 1st, and the levy of the entire
$725,425.00 is unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois to levy only
$525,425.00 and abate and not spread the sum of $200,000.00 hitherto provid ed 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 of the amounts levied and, if applicable, abated for the year
2011 as part of Village Ordinance No. 2011 -58:
Levy
Section
Levy
Abatement
Net Levv
Corporate Purpose
2
$7,530,100.00
$0.00
$7,530,100.00
Illinois Municipal Retirement Fund
3
$839,794.00
$0.00
$839,794.00
Social Security Fund
4
$729,611.00
$0.00
$729,611.00
Police Pension
5
$2,159,838.00
$0.00
$2,159,838.00
Fire Pension
6
$2.003,757.00
$0.00
$2,003,757.00
Corporate Purpose Bonds Series 2010A
7
$725,425.00
5200,000.00
$525,425.00
Corporate Purpose Bonds Series 2010B
8
$88,263.00
$0.00
$88,263.00
Corporate Purpose Bonds Series 2003
9
$325,008.00
$0.00
$325,008.00
Total
$14,401,796.00
$200,000.00
$14,201,796.00
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: 5 — Berman, Trilling, Sussman, Terson, Ottenheimer
NAYES: 0 -- None.-
ABSENT: 1 — Stein
PASSED: December 19 2011
ATTEST:
Village- crk
lip.'
Village of Buffalo Grove
Final Distribution of 2011 Property Tax
Cook County Cook Lake County Lake 2011 Total 2010
2011 2010
After Tax Abatement Consideration
With Estimated Assessed Valuation
Levy* County Levy* County Extension Levy Request
23.08% Rate (1) 76.92% Rate (1) 100.00% 100.00%
Weighted Weighted
Rate (1) Rate (1)
Tax Levies:
509,577.15 0.1324 1,698,296.11
0.1306
2,207,873.26
2,183,505.34
0.1310
0.1296
Corporate
Street and Bridge
162,501.82 0.0422 541,578.85
0.0416
704,080.67
696,309.85
0.0418
0.0413
Street Lighting
55,094.20 0.0143 183,615.51
0.0141
238,709.71
236,075.11
0.0142
0.0140
Police Protection
122,180.51 0.0318 407,197.78
0.0313
529,378.29
523,535.63
0.0314
0.0311
Fire Protection
873,686.25 0.2271 2,911,782.78
0.2239
3,785,469.03
3,743,689.46
0.2246
0.2221
ESDA
2,915.04 0.0008 9,715.11
0.0007
12,630.15
12,660.18
0.0007
0.0008
Crossing Guard
11,992.11 0.0031 39,966.78
0.0031
51,958.89
51,385.43
0.0031
0.0030
Sub - Total: Corporate
1,737,947.08 0.4517 5,792,152.92
0.4453
7,530,100.00
7,447,161.00
0.4468
0.4419.
IMRF /Social Security
362,218.67 0.0941 1,207,186.33
0.0928
1,569,405.00
1,546,972.00
0.0931
0.0918
Arboretum Golf Course (Series 20028)
0.00 0.0000 0.00
0.0000
0.00
145,740.00
0.0000
0.0086
Corp. Purpose Bonds Facilities (2003)
75,011.85 0.0195 249,996.15
0.0192
325,008.00
324,005.00
0.0193
0.0192
Corp. Purpose Bonds Facilities (2010A)
121,268.09 0.4035 404,156.91
0.0311
525,425.00
542,825.00
0.0312
0.0322
Corp. Purpose Bonds Facilities (2010B)
20,371.10 0.0053 67,891.90
0.0052
88,263.00
88,263.00
0.0052
0.0052
Police Pension
498,490.61 0.1296 1,661,347.39
0.1277
2,159,838.00
2,145,917.00
0.1282
0.1273
Fire Pension
462,467.12 0.1202 1,541,289.88
0.1185
2,003,757.00
1,970,913.00
0.1189
0.1169
Total
3,277,774.52 0.7743 10,924,021.48 0.8399 14,201,796.00 14,211,796.00
0.8426
0.8432
Net Levy Request (post abatement) Tax Year 2011 vs. 2010 Request vs. 2010 final extension
Dollar
Cook County 384,762,390
2010
Initial Rates:
2011
2010
Lake County 1,300,633,358
2010 Request
Corporate & Debt Service
0.5025
0.4133
Total 1,685,395,748
Change
Pension Obligations
0.3402
0.3754
82,939.00
1.11%
7,414,210.02
0.8426
0.7887
Net Levy Request (post abatement) Tax Year 2011 vs. 2010 Request vs. 2010 final extension
i
.r
Dollar
Percentage
2010
Dollar
Percentage
2011 Request
2010 Request
Change
Change
Extension
Change
Change
Corporate
7,530,100.00
7,447,161.00
82,939.00
1.11%
7,414,210.02
115,889.98
1.56%
Special Purpose - IMRF
1,569,405.00
1,546,972.00
22,433.00
1.45%
1,534,456.46
34,948.54
2.28%
Pension
4,163,595.00
4,116,830.00
46,765.00
1.14%
4,140,139.44
23,455.56
0.57%
Debt Service
938,696.00
1,100,833.00
(162,137.00)
- 14.73%
1,102,906.40
(164,210.40)
-14.89%
Total
14,201,796.00
14,211,796.00
(10,000.00)
-0.07%
14,191,712.32
10,083.68
007%
* Pecentage of distribution for levy
'
purposes is based upon final percent of tax distribution apportionment used for the 2010 levy.
(1) per $100 EAV
i
.r