S-482 - 09/22/1981 - TAX - Ordinances ORDINANCE NO. S- 482
AN ORDINANCE FOR THE LEVY AND ASSESSMENT OF TAXES IN AND FOR
THE VILLAGE OF OAK BROOK SPECIAL SERVICE AREA NUMBER 1
BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE
VILLAGE OF OAK BROOK, DU PAGE AND COOK COUNTIES, ILLINOIS as follows :
Section 1 : Findings :
A. That Village of Oak Brook Special Service Area
Number l has been created by an Ordinance entitled "An
Ordinance Establishing Village of Oak Brook Special Service
Area Number 1" passed September 22 , 1981. and effective as of
September 23 , 1981 , no petition having been filed opposing
the creation of the special service area pursuant to Chapter
120 of the Illinois Revised Statutes , Paragraph 1309 . Said
Special Service Area Number 1 consists of the territory de-
scribed in the Ordinance aforesaid. The Village of Oak Brook
is now authorized to levy taxes for special services in said
special service area.
B. That the corporate authorities have heretofore
I uthorized the borrowing by Special Service Area Number 1
from sums previously appropriated in the General Corporate
Fund of said Village pursuant to Ordinance S-476 the sum
of Thirty Thousand Five Hundred Twenty Nine Dollars and No
Cents ($30 , 529 . 00) for the purposes of constructing the pro-
posed municipal services in said special service area ,
and that said indebtedness bearing interest at a rate of six
percent (6a) per annum based on the outstanding indebtedness
be retired and paid from taxes levied against said special
service area.
C. That the question of the establishment of said
special service area, the borrowing of funds to construct
said special services , and the levy of a direct tax to pay
the principal and interest thereon have been considered at
a public hearing held July 21 , 1981 pursuant to due and
appropriate legal notice in accordance with the procedures
set forth in Chapter 120 , Paragraphs 1301 through 1311 ,
inclusive , of the Illinois Revised Statutes . Said borrowing
is further evidenced and detailed in the Ordinance authorizing
the same , Ordinance S-481 , passed and approved September 22 ,
1981 .
Section 2 : Levy of Tax:
That for the purpose of providing the funds required
to pay the interest on said indebtedness as it falls due ,
and also to pay and discharge the principal thereof at
maturity, there is hereby levied upon all the taxable
property, as defined in the Revenue Act of 1939 , within the
Village of Oak Brook Special Service Area Number 1 , a direct
annual tax for each of the years while said indebtedness
or any portion thereof is outstanding , an amount sufficient
to pay for that purpose , and that there be and is hereby
levied upon all the said taxable property in said Village
of Oak Brook Special Service Area Number I in addition to all
other taxes the following direct annual tax , to-wit :
Ordinance No . S- 482
Page 2
An Ordinance For The Levy and
Assessment of Taxes in and For
The Village of Oak Brook Special
Service Area No. 1
Year of Levy Principal Interest Total
1981 $ 5 ,542 . 00 $ 458 . 00 $ 6 ,000 . 00
1982 $ 4 ,501. 00 $1 ,499 . 00 $ 6 ,000 . 00
1983 $ 4 ,771 . 00 $1 ,229 . 00 $ 6 ,000 . 00
1984 $ 5 ,057 . 0.0 $ 943 . 00 $ 6 ,000 . 00
198S $ 5 ,361 . 00 $ 639. 00 $ 6 ,000 . 00
1986 $ 5 ,297. 00 $ 318 . 00 $ 5 ,615 .00.
Section 3 : Extension of Taxes :
That forthwith as soon as this Ordinance becomes
effective , the Village Clerk of this Village be and is
hereby directed to file a certifed copy of this Ordinance
with the County Clerk of DuPage County, and it shall be
the duty of said County Clerk to annually in and for each
of the years 1981 through 19 inclusive , ascertain the
rate percent required to produce the aggregate tax herein-
before levied , and extend the same for collection on the
books against -all of the taxable property within the Village
of Oak Brook Special Service Area No. 1 in addition to
other taxes levied in each of said years for general corpor-
ate purposes of said special service area in order to raise
the respective amounts of levies aforesaid, and in each of
said years such annual tax shall be computed , extended and',
collected in the same manner as now or hereafter provided
by law for the computation , extension and collection of
taxes for general corporate purposes of said special ser-
vice area, and when collected the taxes hereby levied shall
be placed to the credit of a special fund to be designated
"Oak Brook Special Service Area No. 1 Ad Valorum Tax Fund
.of 1981" which fund is hereby irrevocably pledged and shall
be used only for the purposes of paying the principal of
and interest on the indebtedness heretofore authorized to
fund said Special Service Area No . 1 .
.Section 4 : Effective Date :
That this Ordinance shall be in full force and
effect from and after its passage and approval pursuant to
law.
Ordinance No S 482
Page 2
An Ordinance For The Levy and
Assessment of Taxes In and For
The Village of Oak Brook Special
Service Area No. 1
Passed this 22nd day of September 1981 .
Ayes : Trustees Congreve,, Listecki, Rush and Watson
Nays : None
Absent '. Trustees Imrie and Philip
Approved this 22nd day of _ September 1981.
i
Village L dent
ATTEST:
Approved as to Form:
Vill ge At to ney
Published
Date Paper
Not Published X
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