2013-12-16 - Ordinance 2013-079 - ABATING TAXES LEVIED FOR THE VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOISL
ORDINANCE NO. 2013-79
E
AN ORDINANCE ABATING TAXES LEVIED FOR THE
VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS
WHEREAS, the Village did on the 2nd day of December, 2013 pass and approve Ordinance No. 2013 -77,
which ordinance provided for the levy of a direct tax on all property in the Village for the year 2014 for general
corporate, pension and debt service purposes in the Village of Buffalo Grove, in the amount of $14,837,582, 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. 2013 -77 for the fiscal year commencing
January 1st, 2014.
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 8 of Ordinance No. 2013 -77 provided for the levy of a direct tax on all property in the Village for
the year 2014 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 $695,725.00 and the Village has
sufficient funds on hand to pay $204,500.00 of the amount of the tax levied for the fiscal year commencing
January st, and the levy of the entire $695,725.00 is unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois to levy
only $491,225.00 and abate and not spread the sum of $204,500.00 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 of the amounts levied and, if applicable, abated for the year
2014 as part of Village Ordinance No. 2013 -77:
Levy
Section
Levy
Abatement
Net Levy
Corporate Purpose
2
$7,910,557.00
$0.00
$7,910,557.00
Illinois Municipal Retirement Fund
3
$881,141.00
$0.00
$881,141.00
Social Security Fund
4
$681,738.00
$0.00
$681,738.00
Police Pension
5
$2,088,000.00
$0.00
$2,088,000.00
Fire Pension
6
$2,174,632.00
$0.00
$2,174,632.00
Corporate Purpose Bonds Series 2012
7
$137,525.00
$0..00
$137,525.00
Corporate Purpose Bonds Series 2010A
8
$695,725.00
$204,500.00
$491,225.00
Corporate Purpose Bonds Series 2010B
9
$268,263.00
$0.00
$268,263.00
Total $14,837,582.00 $204,500.00 $14,633,082.00
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 — Berman, Trilling, Sussman, Terson, Stein, Ottenheimer.
NAYES: None.
ABSENT: None.
PASSED: December 16, 2013
APPROVED: December 16, 2013
ATTEST:
Villa erk
Notice of Public
0
CERTIFICATE OF PUBLICATION
Paddock Publications, Inc.
D&HftrAd
Corporation organized and existing under and by virtue of the laws of
the State of Illinois, DOES HEREBY CERTIFY that it is the publisher
of the DAILY HERALD. That said DAILY HERALD is a secular
newspaper and has been circulated daily in the Village(s) of
Algonquin, Antioch, Arlington Heights, Aurora, Barrington,
Barrington Hills, Lake Barrington, North Barrington, South Barrington,
Bartlett, Batavia, Buffalo Grove, Burlington, Campton Hills,
Carpentersville,Cary,Deer Park, Des Plaines, South Elgin, East Dundee,
Elburn, Elgin,Elk Grove Village, Fox Lake, Fox River Grove, Geneva,
Gilberts,Grayslake, Green Oaks, Gurnee, Hainesville, Hampshire,
Hanover Park,Hawthorn Woods, Hoffman Estates, Huntley, Inverness,
Island Lake,Kildeer, Lake Villa, Lake in the Hills, Lake Zurich,
Libertyville,Lincolnshire, Lindenhurst, Long Grove, Mt.Prospect,
Mundelein,Palatine, Prospect Heights, Rolling Meadows, Round Lake,
Round Lake Beach,Round Lake Heights,Round Lake park,Schaumburg,
Sleepy Hollow, St. Charles, Streamwood, Tower Lakes, Vernon Hills,
Volo, Wauconda, Wheeling, West Dundee, Wildwood, Sugar Grove,
North Aurora
County(ies) of Cook, Kane, Lake, McHenry
and State of Illinois, continuously for more than one year prior to the
date of the first publication of the notice hereinafter referred to and is of
general circulation throughout said Village(s), County(ies) and State.
I further certify that the DAILY HERALD is a newspaper as defined in
"an Act to revise the law in relation to notices" as amended in 1992
Illinois Compiled Statutes, Chapter 7150, Act 5, Section 1 and 5. That a
notice of which the annexed printed slip is a true copy, was published
December 26 2013 in said DAILY HERALD.
IN WITNESS WHEREOF, the undersigned, the said PADDOCK
PUBLICATIONS, Inc., has caused this certificate to be signed by, this
authorized agent, at Arlington Heights, Illinois.
PADDOCK PUBLICATIONS, INC.
DAILY HERALD NEWSPAPERS
BY
Authorized Agent
Control # 4361486
NoYce of Public
• 1 . •
CERTIFICATE OF PUBLICATION
Paddock Publications, Inc.
D&HRutd
Corporation organized and existing under and by virtue of the laws of
the State of Illinois, DOES HEREBY CERTIFY that it is the publisher
of the DAILY HERALD. That said DAILY HERALD is a secular
newspaper and has been circulated daily in the Village(s) of
Algonquin, Antioch, Arlington Heights, Aurora, Barrington
Barrington Hills, Lake Barrington, North Barrington, South Barrington
Bartlett, Batavia, Buffalo Grove, Burlington, Campton Hills,
Carpentersville,Cary,Deer Park, Des Plaines, South Elgin, East Dundee
Elburn, E12in,Elk Grove Village, Fox Lake, Fox River Grove, Geneva
Gilberts,Grayslake, Green Oaks, Gurnee, Hainesville, Hampshire,
Hanover Park,Hawthorn Woods, Hoffman Estates, Huntley, Inverness
Island Lake,Kildeer, Lake Villa, Lake in the Hills, Lake Zurich,
Libertyville,Lincolnshire, Lindenhurst, Long Grove, Mt.Prospect,
Mundelein,Palatine, Prospect Heights, Rolling, Meadows, Round Lake,
Round Lake Beach,Round Lake Heights,Round Lake 12ark,Schaumburg;,
Sleepy Hollow, St. Charles, Streamwood, Tower Lakes, Vernon Hills.
Volo, Wauconda, Wheeling, West Dundee, Wildwood, Sugar Grove,
North Aurora
County(ies) of Cook, Kane, Lake, McHenry
and State of Illinois, continuously for more than one year prior to the
date of the first publication of the notice hereinafter referred to and is of
general circulation throughout said Village(s), County(ies) and State.
I further certify that the DAILY HERALD is a newspaper as defined in
"an Act to revise the law in relation to notices" as amended in 1992
Illinois Compiled Statutes, Chapter 7150, Act 5, Section 1 and 5. That a
notice of which the annexed printed slip is a true copy, was published
December 26, 2013 in said DAILY HERALD.
IN WITNESS WHEREOF, the undersigned, the said PADDOCK
PUBLICATIONS, Inc., has caused this certificate to be signed by, this
authorized agent, at Arlington Heights, Illinois.
PADDOCK PUBLICATIONS, INC.
DAILY HERALD NEWSPAPERS
BY
Authorized Agent
Control # 4361486
9
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 16, 2013, the Corporate
Authorities of the Village passed and approved
Ordinance No. 2013 -79, AN ORDINANCE
ABATING TAXES LEVIED FOR THE VILLAGE
OF BUFFALO GROVE, COOK AND LAKE
COUNTIES, ILLINOIS, a copy of such Ordinance
was posted in and at the Village Hall, commencing
on December 19, 2013 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 19th day of
December, 2013.
Vil ge Clerk
B
i
ORDINANCE NO. 2013-79
0
AN ORDINANCE ABATING TAXES LEVIED FOR THE
VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS
WHEREAS, the Village did on the 2nd day of December, 2013 pass and approve Ordinance No. 2013 -77,
which ordinance provided for the levy of a direct tax on all property in the Village for the year 2014 for general
corporate, pension and debt service purposes in the Village of Buffalo Grove, in the amount of $14,837,582, 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. 2013 -77 for the fiscal year commencing
January 1st, 2014.
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 8 of Ordinance No. 2013 -77 provided for the levy of a direct tax on all property in the Village for
the year 2014 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 $695,725.00 and the Village has
sufficient funds on hand to pay $204,500.00 of the amount of the tax levied for the fiscal year commencing
Januarylst, and the levy of the entire $695,725.00 is unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois to levy
only $491,225.00 and abate and not spread the sum of $204,500.00 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 of the amounts levied and, if applicable, abated for the year
2014 as part of Village Ordinance No. 2013 -77:
Levy
Section
Levy
Abatement
Net Levy
Corporate Purpose
2
$7,910,557.00
$0.00
$7,910,557.00
Illinois Municipal Retirement Fund
3
$881,141.00
$0.00
$881,141.00
Social Security Fund
4
$681,738.00
$0.00
$681,738.00
Police Pension
5
$2,088,000.00
$0.00
$2,088,000.00
Fire Pension
6
$2,174,632.00
$0.00
$2,174,632.00
Corporate Purpose Bonds Series 2012
7
$137,525.00
$0..00
$137,525.00
Corporate Purpose Bonds Series 2010A
8
$695,725.00
$204,500.00
$491,225.00
Corporate Purpose Bonds Series 2010B
9
$268,263.00
$0.00
$268,263.00
Total
$14,837,582.00
$204,500.00
$14,633,082.00
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 — Berman Trilling Sussman Terson Stein Ottenheimer.
NAYES: None.
ABSENT: None.
PASSED: December 16, 2013
APPROVED: December 16, 2013
ATTEST:
Villa erk
0