2022-12-05 - Ordinance 2022-137 - ABATING TAXES LEVIED FOR THE VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS ORDINANCE NO.2022-137
AN ORDINANCE ABATING TAXES LEVIED FOR THE
VILLAGE OF BUFFALO GROVE,COOK AND LAKE COUNTIES,ILLINOIS
WHEREAS, the Village did on the 5"' day of December, 2022 pass and approve Ordinance No. 2022-136,
which ordinance provided for the levy of a direct tax on all property in the Village for the year 2022 for general
corporate, pension and debt service purposes in the Village of Buffalo Grove, in the amount of $21,531,949, 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. 2022-136 for the fiscal year commencing
lanuary lst, 2023.
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 of Ordinance No. 2012-36 provided for the levy of a direct tax on all property in the Village for
the year 2022 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$554,725 and the Village has sufficient funds on hand to pay
$473,412 of the amount of the tax levied for the fiscal year commencing January 1st, and the levy of the entire
$554,725 is unnecessary.
Therefore,the Village hereby authorizes and directs the County Clerks of Cook and Lake Counties, Illinois to levy only
$81,313 and abate and not spread the sum of$554,725 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 2022 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 $381,131
and the Village has sufficient funds on hand to pay $381,131 of the amount of the tax levied for the fiscal year
commencing January 1st, and the levy of the entire$381,131 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$381,131 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 2022 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 $2,403,900 and the Village has sufficient funds on hand to pay$2,403,900 of
the amount of the tax levied for the fiscal year commencing January 1st, and the levy of the entire $2,403,900 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$2,403,900 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.Section 10 of Ordinance No.2022-80 provided for the levy of a direct tax on all property in the Village for
the year 2022 for the repayment of principal and interest on the Corporate Purpose General Obligation Bonds-Series
2022 issued for the purpose of purchasing and improving a building to serve as a public works facility and other
capital projects in the Village of Buffalo Grove in an amount equal to$1,157,965 and the Village has sufficient funds
on hand to pay$1,157,965 of the amount of the tax levied for the fiscal year commencing January 1st,and the levy
of the entire$1,157,965 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$1,157,965 hitherto provided for and levied in the ordinance providing for the
issuance of$18,530,000 of Corporate Purpose General Obligation Bonds-Series 2022 of the Village of Buffalo Grove,
being Ordinance No. 2022-80, passed and approved on August 15, 2022, certified copies of which were filed with
the County Clerks of Cook and Lake Counties, Illinois.
Section 5.The following represents a summary of the amounts levied and, if applicable,abated for the year 2022 as
part of Village Ordinance No. 2022-136:
Corporate Purpose 2 $9,171,988 $0 $9,171,988
_____ ___..�. _� _____ _______ _
Illinois Municipal Retirement Fund 3 $851,377 $0 $851,377
_.�. .__.__._�.____....��__ ,,, ,_.._. __�_..____.�_________.__. __,_.. ____.�_..__..�., ._„___ _. __ ._, �__ __�.....�..__________._._.____
Social Security Fund 4 $938,745 $0 $938,745
_._______..__ ._,_._.._ _. ____. .____._.___ __�___.._. ___�_�__,_ ___.___
Police Pension 5 $3,794,077 $0 $3,794,077
Fire Pension�������������������������� 6 $2,024,085����� ������� $0�� $2,024,085
__ ___ . _ ___�_.,..._____.________.__ __,___.__-- .._ ._______________ __�___ __
Corporate Purpose Bonds Series 2012 7 $554,725 $473,412 $81,313
Corporate Purpose Bonds Series 2016 8� $381,131 ��$381,131 ��$0
___ _--- -- ----_____ __ v_.. _____....___ ___._____._ ... _
Series 2019 GO Bonds 9 $253,955 $0 $253,955
_�_w._,,, __ _.__._..__.. . _ _ ,,_„�_ ..___.__ ._..�.______ ._�..... _.. _
Series 2020 GO Bonds 10 $2,403,900 $2,403,900 $0
___.____.__._.____.__._. _ .__...�._. _.__.____v_��_____�d____ _.�..�___a_._._�. ___ __._.._...� _.__. _..�._.__
Series 2022 GO Bonds 11 $1,157,965 $1,157,965 $0
Total $21,531,949 $4,416,408 $17,115,541
Section 6.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 7. 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—Stein,Weidenfeld,Johnson,Smith, Pike
NAYES: 0—None
ABSENT: 1—Ottenheimer
PASSED: December 5,2022
APPROVED: December 5,2022
APPROVED:
Beverly Sussm ,Village President
ATTEST:
I y �"J
�!�`,%kLC�M�v�/
Jane . r�bi�n,Village CleraK
� � .J �
� ...� . . . ..✓. '
•\�