HomeMy WebLinkAboutCOMMITTEE OF THE WHOLE - 08/13/1985 - 1985 TAX LEVY DETERMINATION COMMITTEE OF THE WHOLE
August 13, 1985 R
PRESENT: Charles Zettek, Village President
Edward Hauser, Village Trustee
James Petri, Village Trustee B�
Ronald Chernick, Village Trustee O
Joseph Bosslet, Village Trustee
ABSENT: Dennis Gallitano, Village Trustee
Michael Tosto, Village Trustee
STAFF PRESENT: Gary Parrin, Assistant Village Manager
Robin Weaver, Administrative Assistant
George Coney, Director of Finance
1985 TAX LEVY DETERMINATION
George Coney presented information on various tax levy rates
and their resultant affects on property tax bills and the Village
budget. The possibility of acquiring General Obligation Bonds for
$10,000,000 in order to finance capital improvement projects was
raised.
Improvement projects discussed included ditch cleaning, Elk
Grove Boulevard ditch enclosure, expressway interchanges and side-
walks in the industrial Park. Staff was directed to determine
estimates for projects. The projects would be completed within
three to four years.
Consensus was to consider $10,000,000 in General Obligation
Bonds and to levy an aggregate levy of approximately $3,562,000
which would result in an estimated rate of 44.1 cents per $100
equalized assessed property value. Discussion was continued to
August 20, 1.985 at 7 p.m.
ADJOURNMENT 11:38 p.m.
c: President and Board of Trustees
Village Manager
Assistant Village Manager
Administrative Assistant
Department Heads
Village Clerk
village Attorney