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Section 1: Findings: That the Corporate Authorities find, determine and declare that <br /> the amount of funds deposited in the special tax allocation fund for the Redevelopment Project <br /> Area that is not required, pledged, earmarked or otherwise designated for payment of or securing <br /> of obligations or anticipated redevelopment project costs is Three Hundred Thousand Dollars <br /> ($300,000.00), such amount having been calculated and now deemed to be "surplus" funds for <br /> the year 2009 under and pursuant to Sections 11-74.4-5(d) and 11-74.4-7 of the TIF Act. <br /> Section 2: Direction: That the Director of Finance of the Village of Elk Grove Village <br /> be and the same is hereby authorized and directed to cause the payment and distribution of all <br /> such"surplus" funds in the manner and proportion as that specified in Sections 11-74.4-5(d)and <br /> 11-74.4-7 of the TIF Act. <br /> Section 3: Effective Date: That this Resolution shall become effective upon its passage <br /> and approval as required by law. This Resolution is hereby passed by the affirmative vote, the <br /> "ayes" and"nays" being called, of a majority of the members of the Board of Trustees of the <br /> Village of Elk Grove Village, Illinois, at a regular meeting of said Board of Trustees on the 13th <br /> day of 2009, A.D. <br /> VOTE: AYES: 6 NAYS: 0 ABSENT: 0 <br /> PASSED this 13th day of October 2009. <br /> APPROVED this 13th day of October 2009. <br /> APPROVED: <br /> Mayor Craig B. Johnson <br /> Village of Elk Grove Village <br /> ATTEST: <br /> -Ann I. Walsh, Village Clerk <br /> ResTIF2009 <br /> 2 <br />