HomeMy WebLinkAboutgr00090_000017_pg68and used solely to pay the costs of said improvements and for the
other purpose specified in said ordinance, and for the purpose of
rode ^-,ing said $1,575,000 of outstanding temporary improvement bonds.
The accrued interest to be received upon delivery of said bonds shall
be credited and paid into the Improvement Bond Redemption Fund of the
Village.
4, In accordance with said ordinance, it is hereby estimated
that approximately $3,000,000 principal amount of special assessments
have been and will be levied on account of said Sanitary and Storm
Sewer and Street Resurfacing Improvement upon properties within the
area assessable for said improvement, as heretofore established by
the resolutions ordering the same, and that $2,606,772 of said amount
of assessments will be available for credit to the Improvement Bond
Redemption Fund after the cost of the improvement is paid in full;
which assessments will be paid in 30 equal annual installments, col-
lectible with general taxes of the Village in consecutive years com-
mencinc7, in 1966 or 1967, with interest at the rate of 6% per annum.
It 3,s further estimated that approximately $99,000 principal amount
o': special assessments have been or will be levied on account of the
other improvements financed by the bonds herein authorized to be
i,sued, and by said issue of bonds referred to above, dated April 1,
195, and will be available for credit to the Improvement Bond Re-
c1c :;_nt Fund after the cost of such improvements is paid in full;
which assessments will be paid in 15 equal annual installments collet -
ilble with general taxes of the Village in consecutive years commencing
: 1966 or 1967, with interest at the rate of 6% per annum. To the
.. _. ?s•;; ir,s-Lallment shall be added interest on the entire assessment on
each property from the date of adoption thereof until December 31
of the year in which the first installment is payable, and to each
subsequent installment shall be added interest for one year on the
ten. unpaid balance of the assessment. All moneys collected therefrom
shall be and are hereby appropriated to the funds of said improvements
and to she Improvement Bond Redemption Fund, and shall be accounted
and expended in the manner provided in Ordinance No. 68. The
2u1 :a.' :.h and credit of the Village is also pledged for the payment
o said bonds and interest as provided in said ordinance.
Thee is hereby levied a general ad valorem tax upon all
'.eo' oporty in the Village for the purpose of paying principal
a.!,.d. :..n';,erest on the bonds herein authorized, which shall be spread
in t,„ amounts and collectible in the years as follows:
i' o•ir. Year Amount Year Amount
L;`,' 21,700 1977 52,100 1987 64,600
)(:' 22.,00 1973 53,200 1988 63,200
j= 23,300 1979 54,300 1989 61,700
%400 1980 55,400 1990 60,200
19'':. 4 0, 500 1931 56,500 1991 69,200
/1,600 1982 62,600 1992 67,300
1983 63,700 1993 65,300
1974 43,800 1984 64,900 1994 63,400
5 411,900 1985 67,500 1995 61,400
:7_ 46,,000 1986 66,100