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HomeMy WebLinkAboutORDINANCE - 923 - 5/7/1974 - REQUIRING DISCLOSURE OF INTERESTSORDINANCE NO. 923 AN ORDINANCE REQUIRING DISCLOSURE OF INTERESTS IN REAL ESTATE IN CERTAIN CASES WHEREAS, the President and Board of Trustees of the Village of Elk Grove Village deem it necessary that they be aware of interests and iden- tities of all persons making application for benefits or relief from any Village ordinance governing the use of real estate; and WHEREAS, it is the purpose of this ordinance to require disclosure of the true identities of all parties having interests in real estate for which a permit or license is requested; NOW, THEREFORE, BE IT ORDAINED by the President and Board of Trustees of the Village of Elk Grove Village, Counties of Cook and DuPage, State of Illinois: Section 1. Definitions As used in this ordinance, AGENT means a person authorized to act for another person or corporation; APPLICANT means one who applies for any benefits on behalf of himself or some other entity; BENEFICIAL INTEREST means any i.nterest in a land trust; BENEFICIARY means any person, corporation or other entity having a beneficial interest in a .land trust; CORPORATION means a body of persons authorized by law to act together as a single person, and, for the purpose of this ordin- ance, includes any association, joint stock company, syndicate, or partnership; LAND TRUST means an express agreement whereby the legal and equit- able title to real estate is held by a Trustee for the benefit of beneficiaries who have the exclusive right to manage and control said real estate; LESSEE means one who has an interest in real estate by virtue of a lease; NOMINEE means one designated to act for another, with limited authority; OPTION HOLDER means one having the right to pug+ ase real estate upon compliance with conditions named in a contract; and STOCKHOLDER means one owning certificates of stock in a corpora- tion or membership in an association, joint stock company, synd- icate, or partnership. Section 2. ApplYcations Any application to the Village Board of Trustees or Village Boards and Commissions for authorization, benefit, license, permit, varia- tion, zoning amendment or planned unit development relating to real estate shall be signed by the owner, lessee, option holder, agent, or nominee of either. (a) If the application is made by a person other than the fee owner, it shall be accompanied by an affidavit of the owner that the person signing the application has authority to make the application; and the application shall disclose the full names, addresses, and telephone numbers of the applicant and owner. (b) If the applicant or the owner is a corporation, the application shall disclose the names and addresses of the officers, direc- tors, registered agent, and those shareholders or members own- ing in excess of five per cent of the outstanding stock or interest in the corporation. (c) If the applicant is a trustee, the full name, address, tele- phone number, and the extent of the interest of each benef;c- iary must be disclosed. (d) If the applicant is a beneficiary, nominee, or option holder,the application must disclose the name,address, and telephone number of those persons or entities for whom he is acting, and if it is a corporation, the provisions of subparagraph (b) of this section shall be complied with. Section 3. Penalty Any person making a false or incomplete statement in the applic- ation shall be guilty of a misdemeanor and subject to a fine of Five Hundred Dollars ($500.00). After a statement is determined to be falsified, missing or incorrect, a written notice of the omission or falsification shall be sent to the applicant; each day that elapses until the date the required information is furnished or corrected shall constitute a separate offense. Section 4. Severability If any provisions of this ordinance shall be held unconstitut- ional, invalid, or illegal by a court of competent jurisdiction, such decision shall not affect the validity of the remaining provisions of this ordinance. Section 5. Effective Date This ordinance shall be in full force and effect from and upon its passage, approval and publication according to law. PASSED this 7th day of May 1974. APPROVED this 7th day of May , 1974. VOTE: AYES 6 NAYS- Charles J. Zettek ABSENT 0 Village President ATTEST: by Fay Bishop Eleanor G. Turner/ Deputy Clerk Village Clerk Published this 15thday of May 1974 in the Elk Grove Herald.