2020-12-07 - Ordinance 2020-099 - ABATING TAXES LEVIED FOR THE VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS ORDINANCE NO.2020-99
AN ORDINANCE ABATING TAXES LEVIED FOR THE
VILLAGE OF BUFFALO GROVE,COOK AND LAKE COUNTIES,ILLINOIS
WHEREAS, the Village did on the 71h day of December, 2020 pass and approve Ordinance No. 2020-98,
which ordinance provided for the levy of a direct tax on all property in the Village for the year 2020 for
eneral corporate, pension and debt service purposes in the Village of Buffalo Grove, in the amount of
20,461,952, a certified copy of which will be 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. 2020-98 for the fiscal year
commencing January 1st, 2020.
NOW,THEREFORE, BE IT ORDAINED BYTHE PRESIDENTAND BOARD OF TRUSTEES OF THE VILLAGE
OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS the following:
Section 1.
Section 7 of Ordinance No. 2012-36 provided for the levy of a direct tax on all property in the
Village for the year 2020 for the repayment of principal and interest on the Corporate Purpose General
Obligation Bonds-Series 2012 issued for the purpose of funding certain road improvements as part of the
annual street maintenance program in the Village of Buffalo Grove in an amount equal to $546,525 and
the Village has sufficient funds on hand to pay$399,280 of the amount of the tax levied for the fiscal year
commencing January 1st,and the levy of the entire$546,525 is unnecessary.
Therefore,the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois
to levy only$147,245 and abate and not spread the sum of$546,525 hitherto provided for and levied in
the ordinance providing for the issuance of$5,700,000 of Corporate Purpose General Obligation Bonds-
Series 2012 of the Village of Buffalo Grove, being Ordinance No. 2012-36, passed and approved on August
6, 2012,certified copies of which were filed with the County Clerks of Cook and Lake Counties, Illinois.
Section 2.
Section 10 of Ordinance No. 2016-24 provided for the levy of a direct tax on all property in the
Village for the year 2020 for the repayment of principal and interest on the Corporate Purpose General
Obligation Bonds-Series 2016 issued for the purpose of street maintenance in the Village of Buffalo Grove
in an amount equal to $383,231 and the Village has sufficient funds on hand to pay $383,231 of the
amount of the tax levied for the fiscal year commencing January 1st, and the levy of the entire$383,231
is unnecessary.
Therefore,the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois
to levy$0 and abate and not spread the sum of$383,231 hitherto provided for and levied in the ordinance
providing for the issuance of$6,125,000 of Corporate Purpose General Obligation Bonds-Series 2016 of
the Village of Buffalo Grove, being Ordinance No. 2016-24, passed and approved on April 18, 2016,
certified copies of which were filed with the County Clerks of Cook and Lake Counties, Illinois.
Section 3.
Section 10 of Ordinance No. 2020-29 provided.for the levy of a direct tax on all property in the
Village for the year 2020 for the repayment of principal and interest on the Corporate Purpose General
Obligation Bonds-Series 2020 issued for the purpose water, sanitary sewer system, roadway, and other
capital projects in the Village of Buffalo Grove in an amount equal to $2,563,900 and the Village has
sufficient funds on hand to pay$2,563,900 of the amount of the tax levied for the fiscal year commencing
January 1st,and the levy of the entire$2,563,900 is unnecessary.
Therefore,the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois
to levy $0 and abate and not spread the sum of $2,563,900 hitherto provided for and levied in the
ordinance providing for the issuance of $24,000,000 of Corporate Purpose General Obligation Bonds-
Series 2020 of the Village of Buffalo Grove, being Ordinance No. 2020-29, passed and approved on May
18, 2020, certified copies of which were filed with the County Clerks of Cook and Lake Counties, Illinois.
Section 4. The following represents a summary of the amounts levied and, if applicable, abated
for the year 2020 as part of Village Ordinance No. 2020-98:
Corporate Purpose 2 $9,171,988 $0 $9,171,988
.................� , ..�..........................._..........._...............................................—,............ ........................................_._._.�... ..._.��..._..
Illinois Municipal Retirement Fund 3 $1,220,390 $0 $1,220,390
Social Security Fund �� W/�NN�+4 .._�....�IT�ITITIT$568,190 .....�... .......$0 _.... $568,190.
r ... . ......_ � _..�.w.m . .....�. �.� � � .,rvrvm........
.,.m,.m,,,,,,,,,,,,, $ ...,.....$
...'... , ....
Police Pension 5 $3,361,940 0 3 361 940
...-----w �o o m ,,, �,,,,,,,,,,,,,,, ,,,,,,_�.� rv. - .... .�w.......,,,
Fire Pension 6 $2,390,386 $0 $2,390,386
...__.... ......�....�....... __ ......... ........... __....... ..............
_W_ __.�..
Corporate Purpose Bonds Series 2012 7 $546,525 $399,280 $147,245
Corporate .,...M..,.,. .,..........,......... .. ...._............—..............._....__.......__.........._ ..........................$......._...........'............................... ._.$ ....�........................................................�..........................$.........
p Purpose Bonds Series 2016 8 383 231 383 231 0
Series 2019m. . �.Bon.d�� .. .. ............................._......_............................__.... ....�.......�...__....�.........__..._....................................................................................................$ ......................................$........_.....�..
GO 9 $255,402 0 255 402
--.....�..................--..�.,................................,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.,�.., �.. ....—._..
Series 2020 GO Bonds 10 $2,563,900 $2,563,900 $0
Total $20,461,952 $3,346,411 $17,115,541
Section 5. 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 6. 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—Stein Ottenheimer,Weidenfeld Johnson Smith Pike
NAYES: 0—None
ABSENT: 0—None
PASSED: December 7,2020
APPROVED: December 7 2020
APPROVED:
Beverly Sussm Village President
ATTEST:
Jan ' bian, Village Clerk