2021-12-06 - Ordinance 2021-095 - FOR THE LEVY AND COLLECTION OF TAXES FOR THE FISCAL YEAR COMMENCING ON THE 1ST DAY OF JANUARY, 2022 AND ENDING ON THE 31ST DAY OF DECEMBER, 2022 ORDINANCE NO.2021-95
AN ORDINANCE FOR THE LEVY AND COLLECTION OF TAKES FOR
THE FISCAL YEAR COMMENCING ON THE 1ST DAY OF JANUARY 2022;
AND ENDING ON THE 31ST DAY OF DECEMBER 2022
BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF BUFFALO GROVE,
COUNTIES OF COOK AND LAKE, ILLINOIS,A HOME-RULE MUNICIPALITY:
SECTION 1..There is hereby levied upon all the taxable property within the corporate limits of said Village of
Buffalo Grove, Counties of Cook and Lake, State of Illinois, the total sum of Twenty Million Four Hundred
Fifty-Two Thousand Forty-Four Dollars ($20,452,044) for the following specific purposes and for the fiscal
year commencing January 1, 2022 and ending December 31, 2022.
SECTION 2.General Corporate Tax.A tax is hereby imposed for the General Corporate purposes in this Village
in the amount of Nine Million One Hundred Seventy-One Thousand Nine Hundred Eighty-Eight Dollars
($9,171,988) spread equally over the value, as assessed and equalized by the Department of Revenue of all
the taxable property within the corporate limits therein.
SECTION 3.Illinois M unicipal Retirement Fund Tax.A further tax is hereby imposed for the purpose of Village
retirement in this Village in the amount of One Wlion Twenty Thousand Three Hundred Ninety-Two Dollars
($1,020,,392) spread equally over the value, as assessed and equalized by the Department of Revenue of aill
taxable property therein, all in accordance with the provisions of Chapter 40,Section 5/7-171 of the Illinois
Pension Code.
SECTION 4.Social Security Fund.A further tax is hereby imposed For the purpose of Village retirement in this
VlHage in the amount of Seven Hundred Sixty-Nine Thousand Seven Hundred Thirty Dollars($769,730)spread
equally over the value, as assessed and equalized by the Department of Revenue of all property therein, all
in accordance with the provisions of Chapter 40, Section 5/21-110& 110.1 of the Illinois Pension Code,
SECTION 5. Police Pension Fund.. A further tax is hereby imposed for the purpose of continuing to provide a
Police Pension Fund in this Village in the amount of Three Million Three Hundred Ninety-Four Thousand
Seventy-Seven Dollars ($3,394,077) spread equally over the value, as assessed and equalized by the
Department of Revenue of all the taxable property therein all in accordance with the provision of Chapter
40,Section 5/3-125 of the Illinois Pension Code.:
SECTION 6. Firefi hter"s Pension Fund. A further tax is hereby imposed for the purpose of continuing to
provide a Firefighter"s Pension Fund in this Village in the amount of Two Million Four Hundred Twenty-Four
Thousand Eighty-Five Dollars ($2,424,085) spread equally over the value, as assessed and equalized by the
Department of Revenue of all the taxable property therein, all in accordance with the provisions of Chapter
40,Section 5/4-118 of the Illinois Pension Code.
SECTION 7. corporate Purpose,General Obligation Bonds—Series 2012.. A further tax is hereby imposed for
the retirement of Corporate Purpose General Obligation Bonds, bong principal and interest, in the amount
of Five Hundred Forty-Eight Thousand Two Hundred Twenty-Five Dollars($ 48,225) spread equally over the
value,assessed and equalized bythe Department,of Revenue of all taxable property therein,all in accordance
with Chapter 65,Section 5/8-4-25 of the Illinois Municipal Code and by adoption of Ordinance No.2012-036.
SECTION 8„Cor orate N�ur ose General Obli ation Bonds-,Series 2016.A further tax is hereby imposed for the
retirement of Corporate Purpose General 0bl gatiion Bonds, bond principal and interest, in the amount of
Three Hundred Eighty-Two Thousand Two Hundred Thirty-One Dollars ($382,231) spread equally over the
value.,assessed and equalized)by the'Department of Revenue of all taxable property therein,all in accordance
with Chapter 65,Section /8-4mm25 of the Illinois Municipal Code and by adoption of Ordinance No.2016 024.
SECTION 9.Corporate Pur ose Generap Obligation Bonds-Series 2019.A further taxis hereby imposed for the
retirement of Corporate Purpose General Obligation Bonds, bond rincipal and interest, in the amount of
Two Hundred Fifty-Seven Thousand Four Hundred Sixteen Dollars( 257,416)spread equally over the value,
assessed and equalized by the Department of Revenue of all taxable property therein,all in accordance with
Chapter 65,Section 5/8-4-25 of the Illinois Municipal Code and by adoption of Ordinance No. 2019-70.
SECTION 10. Corporate Purpose General Obligation Bonds-Series 2020. A further tax is hereby imposed for
the retirement of Corporate Purpose General Obligation Bonds, bond principal and interest, in the amount
of Two Million Four Hundred Eighty-Three Thousand Nine Hundred Dollars($`2,483,900)spread equally over
the value, assessed and equalized by the Department of Revenue of all taxable property therein, all in
accordance with Chapter 65, Section 5/8-4-25 of the Illinois Municipal Code and by adoption of Ordinance
No. 2020-29.
SECTION 11.,A recapitulation of the foregoing levied funds is as follows:
LEVIED FUNDS
General Corporate $ 9,171,988
Illinois Municipal Retirement Fund 1,020,392
Social Security Fund 769,730
Police Pension Fund 3,394,077
Firefighter's Pension Fund 2,424,085
Facilities Development Debt Service-Series 2012 548,225
Facilities Development Debt Service-Series 2016 382,231
Facilities Development Debt Service-Series 2019 257,416
Facilities
Total Tax Development Debt Service-Series 2020 2,483,,900
Grand evy $ 0,452 044
SECTION 12.The Village Clerk is hereby authorized to file a copy of this Ordinance, duly certified, along with
any statutory representations or certifications,with the County Clerk of Cook County, Illinois,and the County
Clerk of Lake County, Illinois,within the time limit prescribed by law.
SECTION 13. If any item or portion of this Ordinance is for any reason held invalid, such decision shall not
affect the validity of the remaining portion of such Item or the remaining portion of this Ordinance.
SECTION 14. Detailed Budget Appropriations by cost category for the fiscal year commencing on the 1st day
of January 2022 and ending on the 31st day of December 2022, along with corresponding levy by Fund are
attached as Exhibit "A"to this Ordinance.
SECTION 15.That this Ordinance shall be in full force and effect from and after its passage and approval.This
Ordinance shall not be codified.
AYES: 6—Ste in, Ottenheimer WeidenfeId Johnson Smith Pike
NAYES: 0—None
ABSENT: 0 None
PASSED: December 6 2021
APPROVED: December 6„ 20 _1.
APPROVED:
Bev4SLiss ,Village President
ATTEST:
Janet M. Sr,r bian,Nillage Clerk