03/17/19362W28 V
No further business appearing, it was moved by.Trustee j.
Pottenger and seconded by•Trustee Willman to adjourn. notion
carried.
VI LAG OLERK. PRESIDENT OF THE BOARD.
March 17, 1936.
A special meeting of the President and the Board of Trustees
of the Village od Deerfield was called to by the President Harry E.
Wing at 7 :30 P. M. for the purpose of adopting '`resolution with
respect to miscellaneous claims of the Village of Deerfield, Lake
Coun #y, Illinois and to pass an ordinance providing-for the issu-
ance of Thirty —aeven Thousand Five Hundred Dollars ($37,50000)
f
Funding Bonds of the Village of Deerfield, Lake County, Illinois,
and providing for the collection of a direct annual tax for the
payment of the principal of and interest on said bonds.
Those responding to the roll call were, Trustee McKillip,
Peterson, Pottenger and Willman. Absent— Trustee Scribner.
The following resolution with respect to miscellaneous
claims was read and a motion was made by Trustee Peterson and
seconded by Trustee McKillip to adopt the resolution as read.
Upon roll call the following vote was taken : — Yeas— Trustee
McKillip. Peterson, Pottenger and Willman. Nays— None. Motion
l
carried.
.ry i.
.. * •�tt .: .,� • ,. .. »rsro. ''. ,, .� r w...:..• -. +'�.m ' Z. rte # +� , Y
A
. tE O Tt� YON' �r th respect to miacallinsouc }
Y
' claims °of .,The' Village of I3eorfield, .Lalte
County') Illinois.
MFRU& it is found that =this municipality has outstand-
ing and unpaid•certain miscellaneous claims rhich were incurred, :. .
prior : to 'April 1, .1935; and
S=HE ". EAS,` .this nunicipality.,does: not have anyfunds with
<hich to pay the. same and it ! is for the best` intarests : of this nun!
'cipality and tho taapayers� thereof.-'that such claims be funded;
i THEM! FORT;, . Be It` Resolved by the ?resident and Board
x
of .Trustees of The', Villago oli',Deerfield, Lake`,County, Illinois:
U2111. it is hereby Sound and deternlne`d, that this,
the; governing of The village of, Leorfield, ' Lako . Illi-
,body ,County,
nois,'iaas examined and considered the claims %1n.the aggregate amount '
of Thiryty —seven 'j'housand Six�Hundred Seventy -five Dollars and. Seventy —`
—a
a.
four Cants (437 675.74' listed in the schadule herato 'attached.xmarki A
Exhibit{,. and hereby made a part hereof.." Said' schedule sets °fort+
and describe' �in detail such, claaimso It is` - hereby, found and declar-
ed,that this,'tha'gonerning body: of ;this municipality has examined
and considerodlreach,and all of•said'clains listed, -in said schedule,
and it appears that they.yore each and all authorized and allowed for;
proper corporate purpose`.of, this municipality,'that each and all of
= said `clrlims ,;zero incurred: prior to April ' 1, - 1935, ',and 'that ,each , and.
r .
all', aid chains, gether with other. s
r Hof to ut tsandiri btetnr�A
rode of
.nth .. t
a
" a 22.9.
»,:ww+.Lr.... xx.. r-';: r....,aPi.....- ..w..._:�.sx-. _ - _ _.:.�..4aeassz ,,."^T,"'_ -,. ♦�. "�..�..„..,,,.:..:....,... _..::.: - -' ... . -• - mss......... _;.:..,,...ru...S. ;.., �,,.. .....- . . =5 -- -z -- r.:..:�. -o -7: .. �Aw� t 7
+."77
{ this municipality, . do not, now, and --. did, ;not gat^ the time , sa ze x: were
ire ' .-, o �. a. 1 -. -. "i •- j.:"a.N� +i ,«.a„r1 J, �� -' e:. Pe � �'ix *t. x., -� a 'r ', ,':' r•' '
incurred, exceed ;five per cent the assassed value of taiablQ
property of this municipality..:
2. That pursuantrto,- the.provisions of,an Act en-
titled; "An ^Act to au "thor.ize - ,cities, villagesx,andi�incorporated', for is. '{,
�• (f ti... _.. x ',in rr , ; ..� ; -'tip i k t� 9,' + : x "ate .. - -. r.+
#I
having a population,'of 300 000, orjes: to issue ondal f r the pay-
mont .of miscellaneous alai` sn adopted in :'1935 bye; the 59th General
Assembly of the State of .111inois,' each and all of .'said cl aims des-
cribed in the' accompanying, exhibit are horQby, atablighed and de—,'
clarei to `be valid and :legallyi binding. obligations "of,, .,this. aunicipality,
,Oectj,o "It is hereby, declared to- bra, ,for-;the. best, inter-
l
seta -of this municitiality. nnd' . the, inhabitants ,'cnd taxpayers `thereofi f
tiia� funding -,bonds be' issued' pursuant to this . provisions of said Act ;
w• � k t t
ur ose`of' n.in such claims.'
. •for the�.,p P p Y g ,
Siation, All resolutions orlparts oP.resolutions in con.,
fljct- herewith be and,i, the same; are hereby repealed, and this resolu.
I bons shall bo',: n full; force: and ,,'effect forthwith ; upon its adoption.
, President
'Clerk e
r , P a s s ed s. , rr rrr— +�iirr�ir �ir.xirrr�.rri , 193 V *'
Approved, 'y Gi�-N� / �' i I93S.
Recorded . 1938.
Votes ,t Ayes. Trustee;" Mcgillip.
f Peterson ;
Pottenger.
Millman
: Mays Trustee None.^
A
;:�. � ►_�_ . _. --- was moved b
It y�Trustee McKillip and seconded by Trustee
PottenEer that the ordinance providi for the issuance of Thirty—
seven houaand Five Hundred Dollars
f T 37,500.00) Funding Bonds c
of the Village of Deerfield, Lake County, Illinois, and providing
`
for-the collection of a direct annual -tax for the payment of the
principal of and interest on.said bondsp be passed as read.
Roll call resulted as follows : = Yeas — .Trustee ,McKillip,
Peterson, Pottenger and Millman. Nays— None. Motion'carried.
j AN ORDINANCE providing for the of the holder on the books of the Treasurer
issuance of Thirty -seven Thousand of said Village, such registration to be
j Five Hundred Dollars ($37,600.00) evidenced by notation of such Treasurer
Funding Bonds of the Village of upon the back of bonds so registered, and
Deerfield, Lake County, Illinois, and after registration no bonds so •registered
providing for the collection of a di- shall be subject to transfer except upon
rect annual tax for the payment of such books and similarly noted on the back
the principal of and interest on thereof unless the last registration shall
said bonds, have been to bearer. Registration of any
WHEREAS, the governing body of this bonds shall mot affect the negotiability of
municipality heretofore on the 17th day of the coupons thereto attached which shall
March, 1936, adopted a resolution pursuant continue transferable by delivery.
to the provisions of an Act entitled: "An SECTION 8. That each of said bonds
` Act to authorize cities, villages and Incor. and each of the interest coupons to be
Porated towns having a population of 800,_ thereto attached shall be in substantially
000 or less to issue bonds for the payment the following form:
of miscellaneous claims," adopted in 1935 UNITED STATES OF AMERICA
by the 69th General Assembly of the State STATE OF ILLINOIS, COUNTY OF LAKE
of Illinois, in and by which said resolution THE VILLAGE OF DEERFIELD
this governing body found and determined FUNDING BOND
that there were certain miscellaneous claims No......... $,,,_..;•,•_,;,
against this municipality which were in- KNOW ALL MEN BY THESE PRE3-
curred prior to April 1, 1935, which said ENTS, that The Village of Deerfield, in
claims were set forth and described in de- the County of Lake And State of Illinois,
tail in said resolution as Exhibit "A." and acknowledges itself to owe, and for value
after due examination and consideration by received hereby promises to pay to bearer,
this governing body were found to have or if this bond be registered then to the
been authorized and allowed for proper cor. registered holder hereof the sum of
Porate purposes, and established as valid ...................... _ ........ _...... Dollars ($ .... ........ .....
)
and legal obligations of this municipality, on the first day of January, 19...., together
and said claims, together with other indebt. with interest on said sum from the date
} edness do not now, and did not at the time hereof until paid at the rate of four and
II r same were incurred, exceed the constitu- one - fourth percent (41/4%) per annum, pay.
1 tional limitation as to debt of this municl. able July 1, 1937, and semi - annually thereafter
pality ; and on the first days of January and July in
WHEREAS, no funds exist for the pay. each year upon presentation and surrender
ment of the same; and of the interest coupons hereto attached as
WHEREAS, it is for the beat interests they, severally become due and payable.
of this municipality, Its inhabitants and the Both principal hereof and interest hereon
taxpayers thereof that such claims be paid are hereby made payable In lawful money
and that funding bonds be issued for that of the United States of America at the
Purpose pursuant to'the provisions of said American National Bank & Trust Com-
Act. pang of . Chicago, Chicago, Illinois.
NOW, THEREFORE, Be It Ordained by For the prompt payment of this bond,
the President and Board of Trustees of both principal and interest as aforesaid at
the Village of Deerfield, Lake County, Illi. maturity, the full faith, credit and resources
nois: of said municipality are hereby irrevocably
SECTION 1. That pursuant to the pro- pledged.
� This bond is issued by said municipality
visions of an Act entitled: "An Act to for the purpose of funding binding and sub.
authorize cities, villages and incorporated slating legal obligations consisting of mis.
towns having a population of 800,000 or less cellaneous claims of said municipality, pur-
to issue bonds for the payment of miscell- suant to and in all respects in compliance
aneous claims," adopted in 1935 by the 69th with an Act entitled: "An Act to provide
General Assembly of the State of Illinois, for the incorporation of Cities and Vit-
and the resolution of this governing body lages," approved April 10, 1872, and all
described in the preamble of this ordinance, acts amendatory thereof and supplementary
this municipality is authorized to issue its thereto, including an Act entitled: "An Act
Funding Bonds in the amount of Thirty. to authorize cities, villages and incorporat-
Seven Thousand Five Hundred Dollars ed towns having a population of 800,000
($37,600.00) for.the purpose of paying said or less to issue bonds for the payment of
claims, which said claims are valid obliga. miscellaneous claims," adopted in 1935 by
tions of this municipality. the 69th General Assembly of the State
SECTION 2. That there be borrowed by of Illinois, and a resolution adopted pur.
and for and on behalf of The Village of suant to the Provisions of said 1935 Act
Deerfield; Lake County, Illinois, the sum of and an ordinance duly adopted, approved
! Thirty -Seven Thousand Five Hundred Dol. and published as required by law.
Jars ($37,600.00) for the Purpose of fund. And it is hereby certified and recited that
it appears from the records of said
ing a like amount of the miscellaneous claims rnunics
Identified above, which said claims constitute pality that all acts, conditions and things
valid and legally binding obligations of this required by the Constitution and Laws of
municipality. That to evidence said loan the State of Illinois to exist or to be done
negotiable coupon bonds of said municipal- precedent to and in the issuance of this
ity be issued; that said bonds be designated bond have existed, and have been properly
" done, happened and been performed in reg-
Funding Bonds," be numbered 1 to 88 in.
/ elusive, bond number 1, being of the de• ular and duo form and time as required by
law; that the indebtedness
nomination of $500.00, and bonds numbers of said munici
pality, including this bond and the issue
2 to 38 inclusive, being of the denomina. d
tion of $1,000.00 each, be dated April 17, which it forma apart does not now and
1936, be due and payable in numerical order did not the time the incurring of the
indebtedness hereby funded exceed any con-
as follows:
stitutional or statutory limitation; and that
$500.00 on January 1, 1939; Provision has been made for the collection of
$1000.00 on January 1, In each of the a direct annual tax, in addition to all
Years 1940 to 1943 Inclusive; other taxes, on all of the taxable property
$2,000.00 on January 1, in each of the in said municipality sufficient to pay the
years 1944 to 1947 inclusive; s interest hereon as the same falls due, and
$3,000.00 on January 1, in each of the also to bay and discharge the principal
years 1948 to 1954 inclusive, , and hereof at maturity.
$4,000.00 on , Ja 1956 ; This bond is subject to registration as to
bear interest ay -the rate four and one• Principal in the name of the holder on the
fourth per ce (4r/, o) annum from date books of the Treasurer of said Village, such
until paid, pa ble � 1937, and semi. registration to be 'evidenced by notation of
annually thereafCei• on the first days of such Treasurer upon the back hereof, and
1 January and July in each year, which in. after registration no transfer hereof shall be
f terest payments to the date of the matur- made except upon such books and similarly
ity of the principal shall be evidenced by noted hereon, unless the last registration
Proper interest coupons attached to each shall have been to bearer. Registration
bond and maturing on the dates herein pro- hereof shall not affect the negotiability of
vided, and both principal and interest shall the coupons hereto attached which shall
be Payable in lawful money of the United continue transferable by delivery.
States of America at the American Na. This bond is one of an issue of Thirty.
1 ' tional Bank & Trust Company of Chicago, Seven Thousand Five Hundred Dollars ($37.
Chicago Illinois: The seal of said munici- 600.00) which said issue is payable in nu.
pality shall be affixed to each of said bonds, merical order as provided by the ordinance
and said 'bonds shall be signed by the authorizing the issuance of this bond.
President and be attested by •the Clerk of IN WITNESS WHEREOF, The Village of
sold Village, and said coupons shall be Deerfield, by its President and Board of
signed and attested by said President and Trustees, has caused its corporate seal to
Clerk, respectively, by their facsimile Big- be hereto affixed, and this bond to be sign.
natures, and said officials.. shall, by the exe- ed by its President and be attested by its
cution of said bonds, adopt as and for their Clerk;'and'the'coupona hereto attaehed`to
respective signatures their respective fee. be signed and attested by said President
simile ,d -..., and Clerk respectively, by their respective
pons; that s'w_"ev ry appearing on said cou- facsimile signatures, and said officers do
provided- however, sa principal It to bearer, by the execution hereof, adopt as and for
kraiioA e!B fp principal to -- hiect
their proper signatures their respective fad-
mile signatures appearing on said cou-
ions, all as of the 15th day of, April, 1936.
4
... ...._.... ... _ ............................ :..
President'
Attest:
........................ Clerk................
(FORM OF COUPON)
On the ..._:.. day of ......................... 193....,
The Village of Deerfield, in the County of
Lake and State of Illinois, will pay to
bearer .......... .. ............................... _.......... Dollars
($ .......................J at the American National
Bank & Trust Company of Chicago, Chi-
1! cago, Illinois, for interest due that day on
its "Funding Bond," dated April 15, 1936,
Number;........
........ .......
Attest: President,
Clerk
Date of R.-xiatered Signature
Resriatrat5on ::.;�..,,,vOwner.,,_ ,•otTreaaurer
................... ..... ...... ........... ..........
€
.............. ....................... _...... _.......
SECTION 4. That for the purpose of
providing the funds required to pay the
Interest on said bonds promptly when and
as the same falls due, and to pay and dis.
charge the principal thereof at maturity,
there be and there is hereby levied upon
all the taxable property within,said muni-
cipality 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
t taxable property in said municipality in
,addition to all other taxes, the following
;direct annual tax sufficient to produce the
respective amounts in the following years.
collectible In the next respective succeed-
ing year as set out below:
For the year 1936 a tax sufficient to pro-
duce the sum of $2.725.00 to pay the in.
(terest maturing to and Including January
;1, 1938;
t For the year 1937 a tax sufficient to pro-
l
!duce the sum of $2.095.00 to pay principal ,
?and interest;
c For the year 1938 . a tax sufficient to pro-
duce the sum of $2,575.00 to pay principal
and interest;
# For the year 1939 a tax sufficient to pro- t
duce the sum of $2,630.00 to pay principal
and interest; i
e For the year 1940 a tax sufficient to pro- i
•duce the sum of $2,490.00 to pay principal J
,and interest;
For the year 1941 a tax sufficient to pro-
�duce the sum of $2.445.00 to pay principal
and interest;
p For the year 1942 a tax sufficient to pro-
duce the sum of $3,405.00 to pay principal
and interest;
For the year 1943 a tax sufficient to pro-
I duce the sum of $3,820.00 to pay principal
and interest; .
For the year 1944 a tax sufficient to Pro.
duce the sum of $3,235.00 ,to pay principal
.and interest;
For the year 1945 a tax sufficient to pro -
duce the aum of $3,160.00 to pay principal
and 'interest i
For the ;Jar'1946 a tax sufficient -to Pro- .
duce the sum of $4,065.00 to pay principal
and interest:
For the year 1947 a tax sufficient to pro-
duce the sum of $3,935.00 to pay principal
and interest;
For the year 1948 a tax sufficient to pro -
duce the sum of $3,810.00 to pay principal
and interest;
For the year 1949 a tax sufficient to Pro-
duce the aum of $3,680.00 to pay principal
and Interest:
For the year 1950 a tax sufficient to pro-
duce the sum of $3,555.00 to pay principal
and Interco#
tax bereinbefore levied for each of said
years respectively, and extend the same for !
collection on the books in connection with
other taxes levied in each of said years
respectively for said municipality for its I
general corporate purposes, and in each of j
said years such annual tax hereby levied
shall be extended and collected in like man-
ner as taxes for general purposes for each
of said years are extended and collected,
and when collected, such taxes shall be held
in a special fund which is hereby design -
nated Funding Bond Fund 1936," and fi
&hall be used only for the purpose of.pay-
ing the principal of and interest on said
bonds herein authorized when same mature.
No principal shall be paid unless th6w
Treasurer of this municipality shall have
on hand sufficient funds to pay all interest
then- due on the bonds hereby authorized.
If the Treasurer does not have on hand
sufficient funds to pay all principal me.
turing on a particular date, together with
all principal already matured after setting -
aside funds for the payment of any inter-
est then due on said bonds, Shen such bonds
shall be paid in numerical order. as pro-
vided in this ordinance. _
SECTION 6. The Clerk of this munici.
pality is hereby directed to publish this '
ordinance in The Highland Park. Press
And/or The Deerfield Press, a newspaper -
Published and having general circulation in
this municipality within ten (10) days after
the passage of this ordinance.
This ordinance shall be in full force and
effect thirty (30) days after such publication
provided no petition for referendum is filed
In compliance with said 1935 Act, and if
such a petition is filed an election may
be had as provided by said Act.
SECTION .7 The Clerk of this munici.
Dality is hereby directed to filed with the
County Clerk of Lake County, a duly cer. ! ,
tified copy of this ordinance. Such cer-
tificate shall not be made and filed until
after the expiration of the period within
which such petition for referendum may ..
be filed. If petition is filed and election
is had, the certificate shall state the facts.
SECTION 8. It , shall be and is hereby
made the duty of the Treasurer of this
Village to keep all moneys received as the
Proceeds of taxes levied to pay-the bonds
authorized by this ordinance in a separate
fund and to transmit the same to the pay -
Ing agent within thirty (30) days after
same are received by him.
SECTION 9. That the funds realized
from the sale of said bonds as shall here• j
after be made by this governing body, t
shall be used for the purpose of paying
the claims set forth in Exhibit "A" of
said resolution, and simultaneously with
the issuance of the bonds authorized by
this ordinance a like amount of said claims
$hall be paid and canceled, provided said
bonds may be delivered from time to time
or all at one time.
SECTION 10. That ell ordinances and
parts of ordinances in conflict herewith be
and the same are -hereby repealed, and this
ordinance shall take effect from and after
its adoption, approval and publication is
the manner required by law.
Approved:
HARRY E•' WING,
Attest: President
CHESTER WESSLING,
Clerk.
Presented: March 17, 1936.
Passed: March 17, 1936.
Approved: March 17, 1936.
VOTE: Ayes — Trustees meximp. Peter- I
son, Pottenger, Willman. Nays— none.
State of Illinois)
County of Lake )se
I. the undersigned, being the duly quali-
fied and acting Clerk of The Village of
Deerfield, Lake County, Illinois, do hereby
certify that the attached is a true and cor.
rect copy of the ordinance adopted by tkn
affirmative vote of not less than two-thirElf
(2/8) of all the elected members of th
Board of Trustees of said municipality e
a duly convened meeting, pertinent to th
I
.of Thirty -Seven Thousand Ffv
Hundred Dollars ($37,500.00) Fundin
Bonds, dated April 15, 1936 • that said ordi,
nance is now a part of the official record ,
of said municipality and same has not It
any manner been revoked or rescinded, sad -
that the President and each and evengg•
member of said Board had due and timely
notice of the meeting at which said ordi.
nance was adopted, all as appears from il
the official record of said Board of Trustees.
WITNESS my hand and the seal Of Said ,
The Village of Deerfield this 17th day of
March, 1936." I
.. :.. :CIIESTER-VMSSLING
X-3 . Clerk.
.e .
4
For the year 1951 a tax sufficient to pro-
duce the sum of $3,425.00,,to pay principal
and interest;
For the year 1952 a tax sufficient to Dro- r
duce the sum of $3,300.00 to pay principal 11
and interest:
For the year 1958 a tax sufficient to pro-
duce the sum of $4,170.00 to pay principal
and Interest.
That interest and principal coming due
at any time when there are insufficient
funds on hand to Day the same be paid
Promptly when due from current funds on }
hand In advancement of the collection of
taxes herein levied. and when said taxes
shall have been collected, reimbursement
shall be made to the Bald funds in the
amounts thus advanced.
SECTION 5. The County Clerk of Lake
County shall in and for each of the years
1936 to 1963 inclusive, ascertain the rate
percent required to produee the aggregate
t V _
.of Thirty -Seven Thousand Ffv
Hundred Dollars ($37,500.00) Fundin
Bonds, dated April 15, 1936 • that said ordi,
nance is now a part of the official record ,
of said municipality and same has not It
any manner been revoked or rescinded, sad -
that the President and each and evengg•
member of said Board had due and timely
notice of the meeting at which said ordi.
nance was adopted, all as appears from il
the official record of said Board of Trustees.
WITNESS my hand and the seal Of Said ,
The Village of Deerfield this 17th day of
March, 1936." I
.. :.. :CIIESTER-VMSSLING
X-3 . Clerk.
.e .
4