1982-12-06 - Resolution 1982-52 - regarding corporate personal property replacement tax distribution 1982 RESOLUTION NO. 82 - 52
A RESOLUTION REGARDING CORPORATE PERSONAL
PROPERTY REPLACEMENT TAX DISTRIBUTION - 1982
WHEREAS, the Village of Buffalo Grove has received $7,347. 12
in distributions of Corporate Personal Property Replacement Tax revenues
from the State of Illinois during calendar year 1982; and
WHEREAS, said distribution was not in excess of what had been
estimated to have been received during the calendar year; and
WHEREAS, a question has arisen with respect to whether said receipts
of Corporate Personal Property Replacement Taxes resulted in a surplus of
funds that are "available for the payment of any debt, obligation, liability,
operation, fund or account or any purpose" within the meaning of Section
157 (a) of the Revenue Act of Illinois.
NOW, THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES
OF THE VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS that :
SECTION 1 . It is hereby found and declared that the amount of
Corporate Personal Property Replacement Taxes actually received by the Village
of Buffalo Grove during calendar 1982 has not caused a surplus "available for
any debt, obligation, liability, operation, fund or account or any purpose"
within the meaning of Section 157 (a) of the Revenue Act of Illinois such
that the Village is required to adopt an ordinance either reducing or
abating the tax levy of the Village of Buffalo Grove for calendar 1982 or
requiring that any such surplus be shown as avilable for appropriation and
expenditure in the upcoming fiscal year.
SECTION 2. The Village Clerk is hereby directed to file certified
copies of this Resolution with the Cook County Clerk and the Circuit Court of
Cook County.
AYES : 6 - Marienthal , Stone, O'Reilly, Hartstein, Gerschefske, Schwartz
NAYES: 0 - None
ABSENT: 0 - None
a.
•
PASSED: December 6 1982•
APPROVED: December 6 , 1982.
Village Presid r�
ATTEST:
Vi � geClerk
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