1974-023VILLAGE OF BUFFALO GROVu
Note ##3683, 184ds .
6%
ZIWIRMITOUTIMLI,
NOTE
BUSINESS- COMMERCIAL
DEMAND or TERM _
8/12
Buffalo Grove, Illinois
For value received, the undersigned promises to pay on (demand) ( 2/ 121 19--75—) to the order of
BANK OF BUFFALO GROVE, a banking corporation (hereinafter, together with any holder hereof, called "the Bank ") at its
offices in Buffalo Grove,
FOR
Dollars;
with interest thereon from (date 81121 _ , 1974 ), at the rate of AIX per cent ( 6 %) per year
until paid, all interest being payable at maturity Interest shall be computed on the basis of a 360 day year.
The term "Collateral," as used herein, shall mean the following property which has been or is hereby delivered, pledged, assigned and trans-
ferred to the Bank:
Tax Anticipation Warrant
and any other property of every kind or description of the undersigned now or hereafter in the possession or control of the Bank for any purpose, and
all dividends and distributions on or other rights in connection with any property hereinabove referred to. The undersigned agrees to deliver to the
Bank, upon its request, any such dividends, distributions and rights which may at any time come into the possession of the undersigned. The under-
signed agrees that the Bank shall have a lien upon and a security interest in the Collateral to secure the payment of this Note and of all other obligations
of the undersigned to the Bank, howsoever created, arising or evidenced, whether direct or indirect, absolute or contingent, or now or. hereafter exist-
ing, or due'or to become due. This Note and the other obligations hereinabove referred to are herein collectively called the Liabilities. The cancellation
or surrender of this Note, upon payment or otherwise, shall not affect the right of the Bank to retain the Collateral for any other Liabilities. The Bank
shall be deemed to have exercised reasonable care in the custody and preservation of the Collateral if it takes such action for that purpose as the under-
signed shall request in writing, but failure of the Bank to comply with any such request shall not of itself be deemed a failure to exercise reasonable
care, and no failure of the Bank to preserve or protect any rights with respect to the Collateral against prior parties, or to do any act with respect to
preservation of the Collateral not so requested by the undersigned, shall be deemed a failure to exercise reasonable care in the custody or preservation
of the Collateral.
In addition to all other rights possessed by it, the Bank, from time to time, whether before or after any of the Liabilities shall become due and
payable, may take any or all of the following actions: (a) transfer all or any part of the Collateral into the name of the Bank or its nominee, with or
without disclosing that such Collateral is subject to the lien and security interest hereunder, (b) notify the parties obligated on any of the Collateral to
make payment to the Bank of any amounts due or to become due thereunder; (c) enforce collection of any of the Collateral by suit or otherwise and
surrender, release or exchange all or any part thereof, or compromise or extend or renew for any period (whether or not longer than the original.period)
any obligations of any nature of any party or parties with respect thereto; (d) take control of any proceeds of the Collateral; and (e) exercise such addi-
tional rights and powers, if any, with respect to any security for or guaranty of any of the Liabilities, as may be provided in any written instrument, (in
addition to this Note). I
In the event of the non - payment, when due, of any amount payable on any of the Liabilities, or if the Bank shall feel insecure for any reason
whatsoever, (1) this Note and all other liabilities may, at the option of the Bank, and without demand or notice of any kind, be declared, and there -
upon immediately shall become due and payable, (2) the undersigned agrees to pry all expenses of the Bank of collection of this Note, and enforcement
of rights under any of the Collateral, including reasonable attorneys' fees and legal expenses, (3) the Bank may exercise from time to time any rights
and remedies available to it under the Uniform Commercial Code as in effect from time to time in Illinois or otherwise available to it, including those
available under any written agreement or instrument (in addition to this Note) relating to any of the Liabilities or any security therefor, and (4) the
Bank, may without demand or notice of any kind, appropriate and apply toward the payment of such of the Liabilities and in such order of application,
as the Bank may from time to time elect, any balances, credits, deposits, accounts or moneys of the undersigned. If any notification of intended dis-
position of any of the Collateral is required by law, such notification, if mailed, shall be deemed reasonably and properly given if mailed at least five days
before such disposition, postage prepaid, addressed to the undersigned either at the address shown below, or at any other address of the undersigned ap-
pearing on the records of the Bank. Any proceeds of any disposition of Collateral may be applied by the Bank to the payment of expenses in connection
with the Collateral, including reasonable attorneys' fees and legal expenses, and any balance of such proceeds may be applied by the Bank toward the
payment of such of the Liabilities, and in such order of application, as the Bank may from time to time elect. No delay on the part of the Bank in the
exercise of any right or remedy shall operate as a waiver thereof, and no single or partial exercise by the Bank of any right or remedy shall preclude other
or further exercise thereof or the exercise of any other right or remedy. If more than one party shall execute this Note, the Term "undersigned" as used
herein shall mean all parties signing this Note and each of them, and all such parties shall be jointly and severally obligated hereunder.
The loan evidenced hereby has been made, and this Note has been delivered, at the offices of the Bank, and shall be governed by the laws of the
State of Illinois. If this Note is not dated, when executed by the undersigned, the Bank is hereby authorized, without notice to the undersigned, to
date this Note as of the date when the loan evidenced hereby is made. Wherever possible each provision of this Note shall be interpreted in such manner
as to be effective and valid under applicable law, but if any provision of this Note shall be prohibited by or invalid under such law, such provision shall
be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Note.
To secure the payment of said amount due or bec me d ereu der, the undersigned, and each of them hereby authorize irrevocably any
attorney of any court of record to appear for the dersign d o any one 4 more em in such court, in term time or vacation, and at any time
hereafter and confess judgment without proce, v of egal holder of thi ore r such amount as may appear unpaid thereon, together with
costs and reasonable attorneys' fees, and to give a lea a all errors w ch y, inter ne in any such proceeding and to consent to immediate ex-
ecution upon such judgment, hereby ratifying and rmi 11 that the s d {� by virtue hereof.
X
Address �_Vi lade of
Name
Name
Address
Buffalo, rove] Ill.
1
For value received, the undersigned (who, if two or more in number, shall be jointly and severally liable hereunder) hereby unconditionally
guarantee(s) the payment of the Note on the reverse side hereof and all extensions or renewals thereof, and all expenses (including reasonable attorneys'
fees and legal expenses) incurred in the collection thereof, the enforcement of rights under any security therefor and the enforcement hereof, and
waive(s) presentment, demand, notice of dishonor, protest, and all other notices whatsoever, and agrees) that the holder of said Note may from time to
time extend or renew said Note for any period (whether or not longer than the original period of said NNote) and grant any releases, compromises or in-
dulgences with respect to said Note or any extension or renewal thereof or any security therefor or to any party liable thereunder or hereunder, all
without notice to or consent of any of the undersigned and without affecting the liability of the undersigned hereunder.
To secure the payment of said amount due or to become due hereunder, the undersigned, and each of them hereby authorize irrevocably any
attorney of any court of record to appear for the undersigned or any one or more of them in such court, in term time or vacation, and at any time
hereafter and confess judgment without process in favor of the legal holder of this Note for su unt as maw apppear unpaid thereon, together with
costs and reasonable attorneys' fees, and to waive and release all errors which may inter in any uchhefpr6cee ing and to consent to immediate ex-
ecution upon such judgment, hereby ratifying and confirming all that the said attorney may o by virt a eof. j .�
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ORDINANCE NO. 74 -23
AN ORDINANCE AUTHORIZING THE ISSUANCE OF TAX ANTICIPATION.
WARRANT FOR THE FISCAL YEAR BEGINNING MAY 1, 1973, AND
ENDING APRIL 30, 1974, FOR THE VILLAGE OF, BUFFALO 'GROVE,
COOK AND LAKE COUNTIES, ILLINOIS
WHEREAS, the funds in the Village treasury to meet current
ordinary and necessary expenses and obligations incurred by
the Village (all of which are or will be chargeable under the
law against the taxes levied for the fiscal year ending
April 30, 1974) have been depleted, and
WHEREAS, the President, Board of Trustees and fiscal
agent for the Village have reviewed the current status of the
cash in the Village treasury and they are of the opinion that
in the interest of paying necessary expenses, including but
not limited to paying corporate bills, maintaining proper
operation of Village facilities and paying personnel, a tax
anticipation warrant should be issued in an amount not
exceeding $140,00.0.00, and
WHEREAS, said sum is less than 75% of the total tax
levied- and :extended.; -:_ ,.,such purposes _ for :1.973.
NOW, THEREFORE, BE IT ORDAINED BY THE . PRESIDENT AND
BOARD OF TRUSTEES OF THE VILLAGE OF BUFFALO GROVE -, COOK AND
LAKE __COUNTIES, ILLINOIS
SECTION 1. That the Treasurer of the Village of 'Buffalo
Grove, Cook and Lake Counties, Illinois, is hereby authorized
to 'issue a warrant which warrant will be signed by the Presider
and Clerk, said warrant being in anticipation of the collection
of 1973 taxes levied by said Village for necessary expenses
as set forth in the appropriation and tax levy ordinances,
all of 'which are chargeable pursuant to law, to the extent
of $140,000.00 being less than 75% of the total of the 'tax
levy heretofore made by said Village for such purposes for
the fiscal year beginning May 1, 1973, and ending April 30,
1974; such warrant shall be payable only out of the 1973
taxes against which it is drawn, shall bear interest at the
rate of 6% annually from the date of issuance until paid or
until notice is given by publication in a newspaper or other
wise that the money for payment is available and that it will
be paid on presentation.
SECTION 2. Said warrant is authorized and shall be
_issued pursuant to paragraphs 8 -1 -1 through 8 -1 -12 Chapter
24 Illinois Revised Statutes 1973
SECTION 3.' This Ordinance shall be in full force.and
effect from and after its 'passage and approval according to
law.
AYES JF' NAYE - ABSENT.
PR
ill ge residen
ATTEST:
Village Cle
PASSED : 6 1
APPROV ED:
FILED:
TAX ANTICIPATION WARRANT NO. .l
KNOW ALL MEN BY THESE PRESENTS, that the Village of
Buffalo Grove, a Municipal corporation, Cook and Lake Counties,
Illinois, will pay the bearer, at the office of the Treasurer of
the Village, in the Village of Buffalo Grove, Cook County, Illinois,
or at the Bank of Buffalo Grove, in the Village of Buffalo Grove,
Cook County, Illinois, at the option of the holder, the sum of
One Hundred Forty Thousand.($140,000.00) Dollars, with interest
thereon at the rate of Six Per Cent (6 %) per annum from date hereof
until paid or until notice is given that `money for payment is
available and that it will be paid on presentation.
Principal and interest will be paid in `lawful money of
the United States of America from the proceeds of taxes when received
levied on all of the taxable property in the Village of Buffalo
Grove for the year 1973 for municipal purposes.
This warrant is issued in anticipation of said.taxes so
levied for the year 1973 for municipal purposes, 'to provide a fund'
to meet and defray ordinary and necessary expenses of the Village
of Buffalo Grove, and is payable, both principal and interest,
solely from said taxes when collected, and not otherwise, which
taxes are hereby assigned and pledged to the payment of this warrant,
and in anticipation of such taxes. This warrant is the sole warrant
issued against said taxes and the same does not exceed seventy -five
(75 %) per cent of the tax levy made therefor, and shall be received
by any Collector of taxes in payment of the taxes against which
it is issued.
It is hereby certified that all acts, conditions and things
required by law.to be done, precedent to and in the issuance hereof,'
have been properly.done, have happened and been performed as
authorized by the Statutes of the State of Illinois,.
IN WITNESS WHEREOF, this Warrant has been signed by the
Village.of Buffalo Grove, Cook and Lake Counties, Illinois, by its
President and Village .Clerk and sealed with the corporate seal this
day of � 1974.
VILLAGE OF 'BUFFALO aGa unicipal
Corporatio , Cook unties,
I llina' s
By
P eside t
By
Villag.0 Clerk
Issued by Treasurer:
Vill a Treasurer
mom LFGAL NOTICE
ORDINANCE NO. 74-23
pN oRDtNANCg AUTH(1RIZING THE. ISSUANCE OF TAX ANTICIPATION
WARRANT PFOR T IeY74. FOR THE VILLAGE � BEGINNING
BUFFALO GItOVE3, COOK
AND t.AKF COUNTIES• ILLINOIS to meetcurrentordinaryand
tics and obligations incurred by the Village (all of which are or
WItN:RM;AN,
the funds in the Village treasury
will ssary cxpen: '
will ss rf ex chargeable under the law against by xes levied for the fiscal year
ending April :ill. 19741 have been depleted,
e treasury and
WNN;1tH:AS. the President, Board of Trustees and fiscal ageneXfonres
a 1❑ necessary Pe
Village have reviewed the current status of the cash in the Village
vin corporate bills, mamtair Proper
ihel are of the opinion that in the interest )n of e a tax anticipation warrant
including but not limited to da i
operation of Village facilities and paving Pe • 00 and
xMndcl M 4 -,>Kef in an amount not exceeding E140Of t.
WIIFRFAS• said su eti1 (^es;�an 75 percent of the total lax levied and
c•.lended for such purposes COOK
j THF STEF.S tE BE IT OF THF VII I AGE OF. BUFFALO GROVE, AND
NI) LAIiN: COUNTIES, ILLINOIS:
authorized to issue a warrant anticipation of
sN;CTION I. That the Treasurer of the Village of Buffalo Grove, Cook an
latkc• Counties. Illinois, is hereby a for necessary expenses as set
will be signed by the Piresldent and Csaid Villag arrant being h
the collection o `�` riati nsand taxlevy ordinance, all of whlc rcent t the total
forth in the app P 0pbemgless than ur yes for the fiscal xtent
pursuant to la heretofore ma
de Village for such p P arrant shall be
of the tax levy 1, 1975 and ending April 30, 1974: suchshall bear interest
•eat• beginning May
P y Y the date of issuance until paid or until
ot tv ahle onl out of the 1973 taxe again °t wh' or otherwise that the•money for
til the rate of G per e)lical on in .a O �Peid on Presentation.
notice is given by p
payment is availa le and that tl will he Pa pursuant to
h ft 1.12 (7►aPler 24 Illinois Revised Statutes 1973.
SF.(T1ON 2, Said warrant is authorized and shall be issue
paragraph., 8-1 -1 lhroug
SI:(Ttl tK :;: 9 his ttrdtoance s m hall he full force and effect from and after
its p:lssat o and apprucal according to law.
Al't:S: 5 NAPES: 1 ABSENT: 0
APPROVED:
Signed: It. Gary Armstrmp
Village President
A•I'•I.1•:ST: ut Clerk
Signed: Verna L. (•lavton by Carol M. Hennenfen(, Deputy
Village Clerk
PASSED: Jul)• 22, 1974
APPROVE":.luly 2:? 1974 -
Fll.Fl):
..._,..:....,,a i. '91W Reminder Publications August 1. 1974
CERTIFICATE OF PUBLICATION
REMINDER PUBLICATIONS INC.
A 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 REMINDER NEWSPAPER
REMINDER NEWSPAPER
That said is a secular
newspaper and has been published weekly in the Village of
WHEELING
County of Cook
and State of Illinois, continuously for more than one year prior to, on and since the date of
the first publication of the notice hereinafter referred to and is of general circulation
throughout said Village, County and State.
I further certify that
REMINDER NEWSPAPER
is a newspaper as defined in "an Act to revise the law in relation to notices" as amended by
Act approved July 17, 1959 —Ill. Revised Statutes, Chap. 100, Para. 1 and 5.
That a notice of which the annexed printed slip is a true copy, was published in said
REMINDER NEWSPAPER
�]
-,on the
dayfa) 2 , A.D. 19
IN WITNESS WHEREOF, the undersigned, the said REMINDER PUBLICATIONS INC.,
has caused this certificate to be signed and its corporate seal affixed hereto, by MARY
MILLER, its Secretary, at Wheeling, Illinois.
this-6—day of
alaA 17-
A.D. 19 11 11Z/
REMINDER PUBLICATIONS, INC.
�'Ov By Secretary.
67 REV -1, 2 -4 -74 100