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ORDINANCE NO. 2493 <br />WHEREAS, the President and Board of Trustees deem it prudent, <br />advisable, and consistent with sound comprehensive financial and <br />accounting policy to establish a Capital Projects Fund entitled the <br />Grove Shopping Center Redevelopment Fund. <br />NOW, THEREFORE, BE IT ORDAINED by the President and Board of <br />Trustees of the Village of Elk Grove Village, Counties of Cook and <br />DuPage, Illinois as follows: <br />Section 1. That Section 1-8-10 "Funds", Chapter 8, Title 1 of <br />the Village Code of the Village of Elk Grove Village be and the same is <br />hereby amended by adding thereto the following: <br />1-8-10-5 Grove Shopping Center Redevelopment Fund: There hereby <br />is established the Grove Shopping Center Redevelopment Fund to be <br />classified as a Capital Projects Fund which shall be kept separate <br />and apart from all other accounts and funds of the Village, <br />provided that amounts deposited may be invested together with <br />other monies of the Village. <br />The purpose of the Grove Shopping Center Redevelopment Fund is <br />to record and account for revenues and expenditures related to the <br />redevelopment of the Shopping Center that may be approved from <br />time to time by the President and Board of Trustees. <br />Section 2. That this Ordinance shall be in full force and <br />effect upon its passage and approval according to law. <br />VOTE: AYES: <br />PASSED this <br />APPROVED this <br />ATTEST: <br />Patricia S. Smith <br />Village Cler <br />5 NAYS: 0 ABSENT: 1 <br />11th day of June <br />1996. <br />11th day of June , 1996. <br />Dennis J. Gallitano <br />Village President <br />