2025-12-01 - Ordinance 2025-145 - ABATING TAXES LEVIED FOR THE VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOISb,\ st+r
BUFEAIO
GROVE
oRDtNANCE 2025-145
AN ORDINANCE ABATING TA(ES LEVIED
FOR THE VILLAGE OF BUFFALO GROVE,
cooK AND LAKE COUNTIES, tLLtNOtS
WHEREAS the Village of Buffalo Grove is a home rule unit pursuant to the
lllinois Constitution of .l970.
NOW THEREFORE BE lT ORDAINED by the President and Board of Trustees of the
Village of Buffalo Crove, Cook and Lake Counties, lllinois, as follows:
SECTION l. The foregoing recitals are hereby adopted and incorporated and made a
part of this Ordinance as if fullysetforth herein.
SECTION 2. Section 7 of Ordinance No. 20'12-36 provided for the leqr of a direct tax
on all property in the Village for the year 2025 for the repayment of principal and
interest on the Corporate Purpose Ceneral 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 Crove in an amount equal to $736,938
and the Village has suff icient funds on hand to pay $736,938 of the amount of the tax
levied for the fiscal year commencing Januarylst, and the levy of the entire $736,938
is unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and
Lake Counties, lllinois to lelry $O and abate and not spread the sum of $736,938
hitherto provided for and levied in the ordinance providing for the issuance of
$5,7OO,0OO of Corporate Purpose Ceneral Obligation Bonds-Series 2Ol2 of the Village
of Buffalo Crove, being Ordinance No.2O12-36, passed and approved on August 5,
2012, certif ied copies of which were f iled with the County Clerks of Cook and Lake
Counties, lllinois.
SECTION 3. Section lO of Ordinance No. 2016-24 provided for the levy of a direct tax
on all property in the Village for the year 2025 for the repayment of principal and
interest on the Corporate Purpose Ceneral Obligation Bonds-series 2016 issued for
the purpose of street maintenance in the Village of Buffalo Crove in an amount
equal to $382,]3] and the Village has suff icient funds on hand to pay 9382,]3] of the
amount of the tax levied for the f iscal year commencing January lst, and the lerry of
the entire $382,13,l is unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and
Lake Counties, lllinois to lely $0 and abate and not spread the sum of $382,]3]
hitherto provided for and levied in the ordinance providing for the issuance of
$6,125,000 of Corporate Purpose Ceneral Obligation Bonds-series 2Ol6 of the Village
of Buffalo Crove, being Ordinance No.2016-24, passed and approved on April lB,2016,
Page I of 3
smatt with heart.
50 Raupp BIvd, Buffalo Crove, lL 60089 \ 847-459-2500 a vbg.o(g
certif ied copies of which were f iled with the County Clerks of Cook and Lake
Counties, lllinois.
SECTION 4. Section lO of Ordinance No. 2O2O-29 provided for the levy of a direct tax
on all property in the Village for the year 2C25 for the repayment of principal and
interest on the Corporate Purpose Ceneral Obligation Bonds-Series 2O2O issued for
the purpose water, sanitary sewer system, roadway, and other capital projects in the
Village of Buffalo C rove in an amount equal to $1,893,9OO and the Village has
suff icient funds on hand to pay $'1,893,9OO of the amount of the tax levied for the
f iscal year commencing lanuary lst, and the lew of the entire $1,893,9OO is
u nnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and
Lake Counties, lllinois to lew $O and abate and not spread the sum of $1,893,9OO
hitherto provided for and levied in the ordinance providing for the issuance of
$24,OOO,0OO of Corporate Purpose Ceneral Obligation Bonds-series 2O2O of the
Village of Buffalo Crove, being Ordinance No.2O2O-29, passed and approved on May
1A,2O2O, certif ied copies of which were f iled with the County Clerks of Cook and Lake
Counties, lllinois.
SECTION 5. Section l0 of Ordinance No. 2O22-8O provided for the ler,ry of a direct tax
on all property in the Village for the year 2025 for the repayment of principal and
interest on the Corporate Purpose Ceneral 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 Crove in an amount equal
to $992,650 and the Village has suff icient funds on hand to pay $ggZ,6S0 of the
amount of the tax levied for the f iscal year commencing January lst, and the le!ry of
the entire $992,650 is unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and
Lake Counties, lllinois to levy $O and abate and not spread the sum of $992,650
hitherto provided for and levied in the ordinance providing for the issuance of
$I8,53O,0OO of Corporate Purpose Ceneral Obligation Bonds-Series 2022 of the
Village of Buffalo Crove, being Ordinance No.2022-8O, passed and approved on
August .l5, 2022, certif ied copies of which were f iled with the County Clerks of Cook
and Lake Counties, lllinois.
SECTION 6. Section lO of Ordinance No. 2025-45 provided for the levy of a direct tax
on all property in the Village for the year 2025 for the repayment of principal and
interest on the Corporate Purpose Ceneral Obligation Bonds-Series 2025 issued for
the purpose to f inance capital improvements in and for the Village including, but not
limited to, construction of new f ire stations and street improvements in an amount
equal to $1,933,325 and the Village has suff icient funds on hand to pay 9],598,056 of
the amount of the tax levied for the f iscal year commencing January lst, and the levy
of the entire $1,933,325 is unnecessary.
Therefore, the Village hereby authorizes and directs the County Clerks of Cook and
Lake Counties, lllinois to lew $335,269 and abate and not spread the sum of
$],598,056 hitherto provided for and levied in the ordinance providing for the
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smart with heart.
50 Raupp Blvd, Buffalo Crove, lL60089 \ 847-459-2SOO , vbg.org
issuance of $24,O60,OOO of Corporate Purpose Ceneral Obligation Bonds-series 2025
of the Village of Buffalo Crove, being Ordinance No. 2025-45, passed and approved
on March 17,2025, certif ied copies of which were f iled with the County Clerks of Cook
and Lake Counties, lllinois.
SECTION 8. The Village Clerk is hereby authorized and directed to f ile a
certif ied copy of this ordinance with the County Clerks of Cook and Lake Counties,
lllinois.
SECT]ON 9. This ordinance shall be in full force and effect f rom and after its
passage and approval in the manner provided by law. This ordinance shall not be
cod if ied.
AYES:
NAYES:
ABSENT:
PASSED:
APPROVED:
PUBLISHED
n icha rd ermer Boce
O - None
O - None
Decem r 1.2025
December '1. 2025
December 4, 2025
ATTEST:APPROVED:
Ge,+'"+-Yt.8^ ri{^--
:anE-il snari;E!, IrlG ct.'x Eric N. Sm Village President
Corporate Purpose s9,171,988 s0 s9,171,9882
lllinois Municipal Retirement Fund 500,000500,0003 0
Social Security Fund 7,290,1224 o 7,290,122
0 3,507,666Police Pension 3,507,6665
2,636,734Fire Pension 6 0 2,636,134
Corporate Purpose Bonds Series 2012 736,938736,9387 0
Corporate Purpose Bonds Series 2016 382,131 382,1318 0
Series 2019 GO Bonds 9 0 0 0
1,893,900 1,893,900Series 2020 GO Bonds 10 0
992,650Series 2022 GO Bonds 992,650 0
1,933,325 1,598,056 335,269Series 2025 GO Bonds
523,044,8s4 ss,603,67s 577,447,779Total
Section et LevyAbatem€ntLeYytary
. - {a.-' smart with heart.
50 Raupp Blvd, Buffalo Grove, lL 60089 r 847-459-2SOO vbg.org
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