O-97-54ORDINANCE 0 -97 -54
ABATEMENT OF TAX FOR 1997 LEVY
BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE
VILLAGE OF DEERFIELD, LAKE AND COOK COUNTIES, ILLINOIS, AS
FOLLOWS:
SECTION That the County Clerk of Lake County and the County
ONE: Clerk of Cook County are hereby authorized and
directed to abate the amounts set forth below of
the tax heretofore provided for and levied in Ordinance No. 0 -93-
21 passed April 19, 1993, a copy of which is filed with the
respective County Clerks, providing for a levy for the following
accounts of the Debt Service Fund of the Village of Deerfield,
Lake and Cook Counties, Illinois:
Bonds to be Abated Amount of Abatement
General Obligation Bonds $677,000
SECTION That the Village of Deerfield has on hand
TWO: sufficient funds from tax proceeds to pay the
total tax levied by the above - described Ordinance
for said purpose for the fiscal year commencing May 1, 1997,
therefore a reduced tax levy is appropriate.
SECTION That the Village Clerk is hereby directed to file
THREE: certified copies of this Ordinance with the County
Clerks of Lake and Cook Counties.
SECTION That this Ordinance shall be in full force and
FOUR: effect from its passage and approval, as provided
by law.
AYES: Ehlers, Heuberger, Rosenthal, Seidman, Swanson, Swartz (6)
NAYS: None (0)
ABSENT: None (0)
PASSED this 15th day of December , A.D., 1997
APPROVED this 15th day of December , A.D., 1997
VILLAGE CLERK.
VILLAGE PRESIDENT
DEBT SERVICE LEVIES AND ABATEMENTS
DEBT SERVICE ISSUES:
Corporate Purpose 1993 $1,376,155
DEBT SERVICE TAX LEVY $1,376,155
RECOMMENDED ABATEMENTS:
Personal Property Replacement Tax $ 70,000
Other Budgeted Abatements 392,000
TIF Surplus Transfer 215,000
TOTAL ABATEMENTS $ 677,000
NET DEBT SERVICE LEVY $ 699,155