HomeMy WebLinkAboutORDINANCE - 2821 - 4/10/2001 - RESIDENTIAL ENHANCEMENT FUND, ADDORDINANCE NO. 2821
AN ORDINANCE AMENDING TITLE I CHAPTER 8 BY ADDING
THE RESIDENTIAL ENHANCEMENT FUND
TO THE VILLAGE CODE OF THE VILLAGE OF ELK GROVE VILLAGE
WHEREAS, the Mayor and Board of Trustees deem it prudent and
advisable to enhance the public areas within the residential community
through creating a Residential Enhancement Program; and
WHEREAS, the Mayor and Board of Trustees determined that it is
consistent with a sound comprehensive financial policy to use existing
balances from certain Village funds earmarked for the purpose of
providing funding sources for the Residential Enhancement Program; and
WHEREAS, the Mayor and Board of Trustees deem it necessary to
establish a fund entitled Residential Enhancement Fund to account for
projects as identified for this Program.
NOW, THEREFORE, BE IT ORDAINED by the Mayor and Board of Trustees
of the Village of Elk Grove Village, Counties of Cook and DuPage,
State of Illinois as follows:
Section 1: That Section 1-8-10, Funds, Chapter 8, Title I of the
Village Code of the Village of Elk Grove Village be and the same is
hereby amended by adding thereto the following:
Section 1-8-10-6: Residential Enhancement Program: There is
hereby established the Residential Enhancement Fund, to be
classified as a Capital Projects Fund, which shall be kept
separate and apart from all other accounts and funds of the
Village, provided that amounts deposited may be invested
together with other monies of the Village.
The purpose of the fund is to record and account for the
revenues and expenditures associated with the Residential
Enhancement Program that may be approved by the Mayor and
Board of Trustees.
Section 2: That certain existing balances from funds as
identified by the Village Board be transferred into and be used to
provide the funding sources for the Residential Enhancement Program.
Section 3: That this Ordinance shall be in full force and effect
from and after its passage, approval, and publication according to
law.
VOTE:
AYES:
5
NAYS:
0 ABSENT: 1
PASSED
this
10th
day of
April 2001.
APPROVED
this
10th
day of
April , 2001.
Craig B. Johnson
MAYOR
ATTEST:
Ann I. Walsh
VILLAGE CLERK
PUBLISHED this 13th day of April , 2001 in pamphlet form.
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