1984-12-17 - Resolution 1984-77 - REGARDING CORPORATE PERSONAL PROPERTY REPLACEMENT TAX DISTRIBUTION - 1984RESOLUTToN NO. 84 - 17
A RESOLUTION REGARDING CORPORATE PERSONAL
PROPERTY REPLACEI'IENT TAx DISTRIBUTION - I984
WHEREAS, the Village of Euffalo Grove has received S 7,538.41
in distributions of Corporate Personal Property Replacement Tax revenues
from the State of ll linois during calendar year l!84; and
ITHEREAS, 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 lllinois.
N0\,,, THEREFoRE, BE tT RESoLVED By THE PREStDENT ANo BoARD 0F TRUSTEES
OF THE VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS that:
SECTIoN l lt is hereby found and declared that the amount of
Corporate Personal Property Replacement Taxes actual ly received by the Village
of Buffalo Grove during calendar 1984 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 lllinois 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 1984 or
requiring that any such surpl us be shown as available for appropriation and
expenditure in the upcoming fiscal year.
SECTI0N 2. The Vi llage Clerk is hereby directed to file certi fied
copies of this Resol ution with the cook county clerk and the circuit court of
Cook County.
AyES: 5 - Marienthal, Srone, OrReilly, HartsEein, Glover
114yg5. 0 - None
ABSENT: I - Reid
PASSED:December 17 ,1984.
1984.
,1984
AppR0VED: Decernber 17
PUBL ISHE0: December 18
ATTESTED:
"*-Tn. 8.,"oI.","
Vil lage Clerk
Vil lage Pres ident