HomeMy WebLinkAboutORDINANCE - 2350 - 2/8/1994 - BONDS, GENERAL OBLIGATION SERIES 1994ORDINANCE NO. 2350
AN ORDINANCE AUTHORIZING AN AMENDMENT TO ORDINANCE NO. 2342,
GENERAL OBLIGATION BONDS. SERIES 1994. SECTION 11. TAX LEVY
NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees
of the Village of Elk Grove Village, Counties of Cook and DuPage, State of
Illinois as follows:
Section 1: That the Director of Finance be and is hereby authorized
to sign the attached documents marked:
CERTIFICATE OF CORRECTION OF TAX LEVY ON FILE
a copy of which is attached hereto and made a part hereof as if fully set
forth and the Village Clerk is authorized to attest said document upon the
signature of the Director of Finance.
Section 2: That the Village Clerk is hereby authorized to publish
this Ordinance in pamphlet form.
Section 3: That this Ordinance shall be in full force and effect
from and after its passage and approval according to law.
VOTES:
AYE:
6
NAY:
0 ABSENT: 0
PASSED
this
8th
day of
February 1994.
APPROVED
this
8th
day of
February 1994.
Dennis J. Gallitano
Village President
ATTEST:
Patricia S. Smith
Village Clerk
PUBLISHED this 11th day of February ,1994 in Pamphlet Form.
STATE OF ILLINOIS )
SS
COUNTY OF COOK )
CERTIFICATE OF CORRECTION OF TAX LEVY ON FILE
TO THE COUNTY CLERK OF THE COUNTIES OF COOK AND DUPAGE, ILLINOIS, GREETINGS:
We, the undersigned, being the duly qualified and acting Director of Finance and the
Village Clerk of the Village of Elk Grove Village, Cook and DuPage Counties, Illinois (the
"Village") do hereby certify and notify you as follows:
1. The Village has recently authorized and issued the following bonds (the
GENERAL OBLIGATION BONDS, SERIES 1994
The Bonds are dated January 1, 1994, and become due and payable (subject to right
of prior redemption) on December I of the years and in the amounts and bearing interest at
the rates percent per annum as follows:
YEAR
AMOUNT ($)
RATE (%)
1994
155,000
2.75
1995
120,000
3.10
1996
535,000
3.25
1997
770,000
3.45
1998
800,000
3.60
1999
1,070,000
3.80
2000
480,000
3.95
2001
505,000
4.00
2002
1,555,000
4.20
2003
1,625,000
4.35
2004
1,360,000
4.55
2005
500,000
4.70
2006
525,000
4.80
2. Pertinent information regarding the Bonds is as follows:
VILLAGE
ORDINANCE ADOPTED FILED IN FILED IN
NUMBER ON DATE COOK COUNTY DUPAGE COUNTY
2342 11 Jan 1994 19 Jan 1994 18 Jan 1994
3. Ordinance Number 2342 (the "Bond Ordinance"), by which the Bonds were
authorized to be issued, contained tax levies for the Bonds, (the "Original Tax Levies"), as
follows:
Section 11. Tax Levy. For the purpose of providing funds required to
pay the interest on the Bonds promptly when and as the same falls due, and to pay and
discharge the principal thereof at maturity, there is hereby levied upon all of the
taxable property within the Village, in the years for which any of the Bonds are
outstanding, a direct annual tax sufficient for that purpose; and there is hereby levied
on all of the taxable property in the Village, in addition to all other taxes, the
following direct annual taxes (the Pledged Taxes as hereinabove defined):
FOR THE YEAR A TAX SUFFICIENT TO PRODUCE THE DOLLAR SUM OF:
1993 $ NONE for interest and principal up to and
including December 1, 1994 [provision
being made for such taxes from the
unabated taxes levied for the year 1993
for the Prior Bonds]
1994 189,526.73 for interest and principal up to and
including December 1, 1995
1995
184,679.23
for interest and
principal
1996
185,489.23
for interest and
principal
1997
186,926.73
for interest and
principal
1998
183,064.23
for interest and
principal
1999
183,619.23
for interest and
principal
2000
182,819.23
for interest and
principal
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FOR THE YEAR A TAX SUFFICIENT TO PRODUCE THE DOLLAR SUM OF:
2001 185,056.73 for interest and principal
2002 187,239.23 for interest and principal
2003 187,426.73 for interest and principal
2004 190,839.23 for interest and principal
2005 190,279.23 for interest and principal
The Original Tax Levies for the Bonds were incorrectly stated in the Bond
Ordinance.
4. The purpose of this Certificate is to advise you of the corrected tax levies for
the Bonds. Accordingly you are hereby notified that the true, correct and complete
tax levy for the Bonds is as follows:
FOR THE YEAR A TAX SUFFICIENT TO PRODUCE THE DOLLAR SUM OF:
1993
$ NONE
for interest and principal up to and
including December 1, 1994 [provision
being made for such taxes from the
unabated taxes levied for the year 1993
for the Prior Bonds]
1994
522,870.00
for interest and principal up to and
including December 1, 1995
1995
934,150.00
for interest and principal
1996
1,151,762.50
for interest and principal
1997
1,155,197.50
for interest and principal
1998
1,396,397.50
for interest and principal
1999
765,737.50
for interest and principal
2000
771,777.50
for interest and principal
2001
1,801,577.50
for interest and principal
2002
1,806,267.50
for interest and principal
2003
1,470,580.00
for interest and principal
2004
548,700.00
for interest and principal
2005
550,200.00
for interest and principal
-3-
IN WITNESS WHEREOF I hereunto affix my official signature and the seal of the
Village this 9th day of February 1994.
ATTEST:
Patricia S. Smith
Village Clerk
Village of Elk Grove Village
Cook and DuPage Counties, Illinois
(SEAL]
Hilda H. Ingebrigtsen
Director of Finance
Village of Elk Grove Village
Cook and DuPage Counties, Illinois
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