HomeMy WebLinkAboutORDINANCE - 2493 - 6/11/1996 - FUND, CAPITAL PROJECTS, CREATING A NEWORDINANCE NO. 2493
WHEREAS, the President and Board of Trustees deem it prudent,
advisable, and consistent with sound comprehensive financial and
accounting policy to establish a Capital Projects Fund entitled the
Grove Shopping Center Redevelopment Fund.
NOW, THEREFORE, BE IT ORDAINED by the President and Board of
Trustees of the Village of Elk Grove Village, Counties of Cook and
DuPage, Illinois as follows:
Section 1. That Section 1-8-10 "Funds", Chapter 8, Title 1 of
the Village Code of the Village of Elk Grove Village be and the same is
hereby amended by adding thereto the following:
1-8-10-5 Grove Shopping Center Redevelopment Fund: There hereby
is established the Grove Shopping Center Redevelopment 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 Grove Shopping Center Redevelopment Fund is
to record and account for revenues and expenditures related to the
redevelopment of the Shopping Center that may be approved from
time to time by the President and Board of Trustees.
Section 2. That this Ordinance shall be in full force and
effect upon its passage and approval according to law.
VOTE: AYES:
PASSED this
APPROVED this
ATTEST:
Patricia S. Smith
Village Cler
5 NAYS: 0 ABSENT: 1
11th day of June
1996.
11th day of June , 1996.
Dennis J. Gallitano
Village President