O-70-06ORDINANCE NO. 0 -70:6
AN ORDINANCE TO AMEND SECTIONS TWO, FOUR,
FIVE, SIX AND EIGHT OF ORDINANCE NO. 0 -69 -51
ENTITLED, "AN ORDINANCE PROVIDING FOR BORROWING
MONEY AND ISSUING BONDS OF THE VILLAGE OF DEERFIELD,
LAKE AND COOK COUNTIES, ILLINOIS, TO THE AMOUNT OF
$1,035,000 FOR THE PURPOSE OF PAYING THE COST OF
ACQUIRING A LIBRARY SITE AND ERECTING A LIBRARY BUILDING
THEREON IN SAID VILLAGE AND PROVIDING FOR THE LEVY AND
COLLECTION OF A DIRECT ANNUAL TAX FOR THE PAYMENT OF THE
PRINCIPAL AND INTEREST OF SAID BONDS"
PREAMBLE
WHEREAS, on December 22, 1969, the President and Board of
Trustees of the Village of Deerfield, Lake and Cook Counties,
Illinois, did adopt Ordinance No. 0 -69 -51 providing for the issue
of $1,035,000 Public Library Bonds of said Village, said ordinance
being entitled, "An Ordinance Providing for Borrowing Money and
Issuing Bonds of the Village of Deerfield, Lake and Cook Counties,
Illinois, to the amount of $1,035,000 for the Purpose of Paying
the Cost of Acquiring a Library Site and Erecting a Library
Building thereon in said Village and Providing for the Levy and
Collection of a Direct Annual Tax for the Payment of the Principal
and Interest of said Bonds ";and
WHEREAS, said Ordinance was duly published in the Deerfield
Review, being a newspaper published in and having a general
circulation in said Village, and a properly certified copy of said
Ordinance was thereafter duly filed with the County Clerks of Lake
and Cook Counties,.Illinois, and said Ordinance is now in full
force and effect; and .
WHEREAS, it
said Village that
provided in said
$1,035,000 Public
December 1 of the
is deemed advisable and in the best interests of
the schedule of maturities of said bonds as
Ordinance No. 0 -69 -51 be revised and that said
Library Bonds be issued to mature serially on
years and in the amounts as follows:
Year
Amount
1971
$ 85,000
1972
100,000
1973
125,000
1974
175,000
1975
175,000
1976
175,000
1977
100,000
1978
100,000
WHEREAS, said bonds have been offered for sale and the bid
of The Northern Trust Company, Chicago, Illinois, has been deter-
mined by the President and Board of Trustees to be the best bid
submitted for said bonds; and
WHEREAS, it is necessary that certain amendments be made in
said Ordinance No. 0 -69 -51 to revise the schedule of maturities,
designate a bank as paying agent for said bonds, revise the tax
levy for the years 1973 -to 1977, inclusive, and confirm the sale
of said bonds to the purchaser thereof:
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE OF DEERFIELD, LAKE AND COOK COUNTIES,
ILLINOIS, AS FOLLOWS:
SECTION That Sections Two, Four, Five, Six and Eight of
ONE: Ordinance No. 0 -69 -51 heretofore adopted by the
President and Board of Trustees of the Village of
Deerfield on December 22, 1969, and entitled, "An Ordinance
Providing for Borrowing Money and Issuing Bonds of the Village of
Deerfield, Lake and Cook Counties, Illinois, to the amount of
$1,035,000 for the purpose of Paying the Cost of Acquiring a Library
Site and Erecting a Library Building Thereon in said Village and
Providing for the Levy and Collection of a Direct Annual Tax for
the Payment of the Principal and Interest of said Bonds" be and
the same are hereby amended to read as follows:
"SECTION That in order to raise the sum of $1,035,000
TWO: needed for the purpose aforesaid, there be
borrowed by, for and on behalf of the Village
of Deerfield, Lake and Cook Counties, Illinois, the sum of
$1,035,000 and to evidence said loan negotiable coupon
bonds of said Village be issued. Said bonds shall each be
designated "Public Library Bond ", be dated December 1, 1969,
be numbered consecutively from 1 to 207 inclusive, of the
denomination of $5,000 each, bear interest from date until
paid at the rate of six per cent (6 %) per annum, and become
due serially on December 1 of the years in the amounts as
follows:
-2-
Year
Principal Amount
1971
$ 85,000
1972
100,000
1973
125,000
1974
175,000
1975
175,000
1976
175,000
1977
100,000
1978
100,000
Interest on said bonds shall be payable on December 1, 1970,
and semi - annually thereafter on the first days of June and
December in each year, which said interest payments to
date of maturity'of principal shall be evidenced by proper
interest coupons attached to each bond and maturing on the
dates herein provided, and both principal and interest shall
be payable in lawful money of the United States of America
at The Northern Trust Company in the City of Chicago, Illinois.
The seal of said Village shall be affixed to each of said
bonds and said bonds shall be signed by the President and be
attested by the Clerk of said Village, and said coupons
shall be signed and attested by said officials, respectively,
by their respective facsimile signatures, and said officials,
by the execution of said bonds, shall adopt as and for their
own proper signatures their respective facsimile signatures
appearing on said coupons."
"SECTION That each of said bonds and the interest
FOUR: coupons to be thereto attached shall be in
substantially the following form:
Number
(Form of Bond)
UNITED STATES OF AMERICA
STATE OF ILLINOIS LAKE AND COOK COUNTIES
VILLAGE OF DEERFIELD
PUBLIC LIBRARY BOND
-3-
$5,000
KNOW ALL MEN BY THESE PRESENTS, that the Village
of Deerfield, Lake and Cook Counties, Illinois, hereby
acknowledges itself to owe, and for value received, promises
to pay to bearer, or if this bond be registered, then to
the registered holder hereof, the sum of FIVE THOUSAND
DOLLARS ($5,000) on the first day of December, 19_, together
with interest on said sum from the date hereof until paid
at the rate of six per cent (6 %) per annum, payable on
December 1, 1970 and semi - annually thereafter on the first
days of June and December in each year, and until maturity,
upon presentation and surrender of the respective interest
coupons hereto attached as they severally,become due and
payable.
Both principal and interest are hereby made
payable in lawful money of the United States of America at
The Northern Trust Company in the City of Chicago, Illinois.
For the prompt payment of this bond, both princi-
pal and interest, as aforesaid, at maturity, and the levy
of taxes sufficient for that.purpose, the full faith, credit
and resources of said Village are hereby irrevocably pledged.
This bond is issued by said Village for the pur-
pose of paying part of the cost of acquiring a library site
and erecting a new building thereon in and for said Village
to be used for a library, pursuant to and in all respects
in compliance with the provisions of An Act of the General
Assembly entitled, "AN ACT in relation to free public librar-
ies for cities, villages, incorporated towns and townships
and to repeal Acts and parts of Acts therein named ", approved
July 12, 1965, and the "Illinois Municipal Code," approved
May 29, 1961, and all acts amendatory thereof and supple-
mentary thereto, and is authorized by a majority of the
electors of said Village voting upon the question at an
election duly called, noticed, held and canvassed for that
purpose in said Village and in compliance with an Ordinance
duly passed by the President and Board of Trustees of
said Village, approved by the President of said Village, and
published, in all respects as by law required.
It is hereby certified and recited that all acts,
conditions and things required by the Constitution and laws
of the State of Ill-inois, to exist or to be done, precedent
to and in the issuance of this bond, have existed and have
been properly done, happened, and been performed in regu-
lar and due form and time as required by law; that the
indebtedness of said Village of Deerfield, represented by
-4-
this Bond and the issue of which it forms a part, and
including all other indebtedness of said Village, howso-
ever evidenced and incurred, does not exceed any constitu-
tional or statutory limitation, and that provision has been
made for the collection of a direct annual tax, in addition
to all other taxes, on all of the taxable property in said
Village sufficient to pay the interest hereon as the same
falls due and also to pay and discharge the principal
hereof at maturity.
This bond is subject to registration.as to
principal in the name of the holder on the books of the Village
Treasurer, such registration to be evidenced by notation
of such Treasurer on the back hereof, and after such regis-
tration no transfer hereof, except upon such books and
similarly noted hereon, shall be valid unless the last
registration shall have been to bearer. Registration hereof
shall not affect the negotiability of the coupons hereto
attached which shall continue negotiable by delivery merely,
notwithstanding registration hereof.
IN WITNESS WHEREOF, said Village of Deerfield,
Lake and Cook Counties, Illinois, by its President and Board
of Trustees, has caused its corporate seal to be hereunto
affixed and this bond to be signed by the President of said
Village and attested by its Village Clerk, and the coupons
hereto attached to be signed and attested by said officials,
respectively, by their facsimile signatures, and said
officials do, by the execution hereof, adopt as and for their
own proper signatures their respective facsimile signatures
appearing on said coupons, all as of the first day of
December, 1969.
VILLAGE OF DEERFIELD
By
ATTEST: President
Village Clerk
Number
(Form of Coupon)
-5-
On the first day
of Deerfield, Lake and Cook
bearer
of , 19_, the Village
Counties, Illinois, will pay to
Dollars ($ )
in lawful money of the United States of America at The
Northern Trust Company,.in the City of Chicago, Illinois, for
interest due that day on its Public Library Bond, dated
December 1, 1969, Number : .
Attest: President
Village Clerk
(Form for Registration as to Principal)
Date of Signature of
Registration Name of Registered Owner Village Treasurer
"SECTION That for the purpose of providing the funds
FIVE: required to pay the interest on said bonds
promptly when and as the same falls due,
and to pay and discharge the principal thereof at maturity,
there be and there is hereby levied upon all of the tax-
able property within said Village, in each year while any
of said bonds are outstanding, a direct annual tax sufficient
for that purpose, and that there be and there is hereby
levied on all of the taxable property in said Village, in
addition to all other taxes,-the following direct annual tax,
to -wit:
For the year
A Tax Sufficient to Produce
the Sum of
1969
$93,150.00 for principal and interest
up to
June
1, 1971
1970
$144,550
for
principal
and
interest
1971
$154,000
for
principal
and
interest
1972
$1721250
for
principal
and
interest
1973
$213.250
for
principal
and
interest
1974
$202,750
for
principal
and
interest
1975
$1922250
for
principal
and
interest
1976
$109,000
for
principal
and
interest
1977
$1032000
for
principal
and
interest
-6-
That interest or principal coming due at any time when there
are insufficient funds on hand to pay the same be paid
promptly when due from current funds on hand in advancement
of the collection of said taxes herein levied, and when said
taxes shall have been collected, reimbursement shall be made
to the said funds in the amounts thus advanced."
"SECTION That forthwith as soon as this Ordinance
SIX: becomes effective, a copy hereof, certified
by the Clerk of said Village, which certifi-
cate shall recite that this Ordinance has been passed by the
President and Board of Trustees of said Village, approved
by the President, and published, shall be filed with the
County Clerks of Lake and Cook Counties, Illinois, who shall
in and for each of the years 1969 to 1977', inclusive, ascer-
tain-the rate per cent required to produce the aggregate
tax hereinbefore provided to be levied in each of said years,
respectively, and extend the same for collection on-the tax
books in connection with other taxes levied in each of said
years, respectively, in and by said Village for general
corporate purposes of said Village, and in each of said years
such annual tax shall be levied and collected by said Village
in like manner as taxes for general corporate purposes of
said Village, for each of-said years are levied and collected,
and when collected such taxes shall be used solely for the
purpose of paying principal and interest upon the bonds herein
authorized when same mature."
"SECTION That forthwith after this Ordinance has become
EIGHT" effective as provided by law, the bonds herein
authorized shall be- executed and delivered to
the Treasurer of said Village and be by him delivered to the
Northern Trust Company in the City of Chicago, Illinois, the
purchaser thereof, upon receipt of the purchase price there-
for, the same to be not less than the par value of said bonds,
plus accrued interest to date of delivery."
SECTION That this Ordinance shall be in full force and effect
TWO: upon its passage and publication as provided by law.
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POST OFFICE DEPARTMENT
OFFICIAL BUSINESS
(� 1970 1
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INSTRUCTIONS: Show'4name and add 4s
complete instructions on other side, w iert
Moisten gummed ends, attach and hold fit
of article Print on front of article
RECEIPT REQUESTED.
NAME OF SENDER
Village C1er�
STREET AND NO. OR P.O. BOX
850 Waukegan
POST OFFICE, STATE, AND ZIP CODE
PENALTY FOR PRIVATE USE TO AVOID
PAYMENT OF POSTAGE 5900
D PIVERIIdCaDfiI,CE
t
Ow and
dicable. is
to back "41 "BTU
,TURN Ako* TO
_� r
INSTRUCTIONS TO DELIVERING EMPLOYEE .
❑Show to whom, date, and Deliver ONLY
address where delivered ® to addressee
(Additional charges required for these services)
RECEIPT
Received the numbered article described below.
REGISTERED NO
CERTIFIED NC
360965
INSURED NO.
DATE DELIVERED
SIGNATURE OR NAME OF ADDRESSEE (Must always bsjilledin)
�A0 HSYftAM,,,rN
SIGNATURE OF ADDRESSEE'S AGENT, IF ANY
F I
F'R 5 170
SHOW WHERE DELIVEq9A #4t4,z "- pW N(j m
055 16- 71648-10 CPO
SECTION- That forthwith as soon as this amendatory ordinance
THREE: becomes effective, a copy hereof, certified by the
Clerk of said Village, which certificate shall
recite that this ordinance has been passed by the President and
Board of Trustees of said Village, approved by the President, and
published, shall be filed with the County Clerks of Lake and Cook
Counties, Illinois, and said County Clerks shall extend for collec-
tion the taxes levied herein.
AYES: sIx
NAYS: NONE
ABSENT: ONE
PASSED this
APPROVED thi:
ATTEST:
(6)
(0)
(1)
19th day of January , A.D.
,
20th day of "
.-IL
Village Clerk
1970
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