R-94-13RESOLUTION NO. R -94 -13
RESOLUTION DECLARING A SURPLUS OF TAX INCREMENT FINANCING FUNDS
WHEREAS, the Corporate Authorities of the Village of
Deerfield, pursuant to the provisions of Chapter 24, Section 11-
74.4, gt sea., Illinois Revised Statutes, the Tax Increment
Allocation Redevelopment Act (the "Act ") established a tax
increment financing district in 1982 within portions of the
Village of Deerfield located within both Cook County and Lake
County, Illinois; and
WHEREAS, pursuant to the provisions of the Act, the
Corporate Authorities adopted Ordinance No. 0 -82 -33 establishing
the 1982 Special Tax Allocation Fund and Ordinance No. 0 -82 -34
causing the issuance of $500,000 principal amount of Corporate
Purpose Bonds Series 1982; and
WHEREAS., Chapter 24, Section 11- 74.4 -7 of the Act requires
that any monies held by a municipality and not required for the
payment and securing of obligations of a tax increment financing
district and /or redevelopment project costs shall be deemed to be
"Surplus Funds "; and
WHEREAS, the Corporate Authorities have determined that
pursuant to the provisions of the aforementioned ordinances No.
0 -82 -33 and No. 0 -82 -34 and the Act that Surplus Funds are
currently available.
NOW THEREFORE BE IT RESOLVED BY THE MAYOR AND BOARD OF
TRUSTEES OF THE VILLAGE OF DEERFIELD, LAKE AND COOK COUNTIES,
ILLINOIS, AS FOLLOWS:
SECTION That any Surplus Funds presently existing in the
NE: 1982 Special Tax Allocation Fund determined in
accordance with Chapter 24, Section 11- 74.4 -7 of
the Act and Ordinances No. 0 -82 -33 and No. 0 -82 -34 be and are
hereby declared Surplus Funds.
SECTION That pursuant to,Section One hereof the Finance
TWO: Director of the Village of Deerfield has
determined that the sum of $6,465,150 and held in
the 1982 Special Tax Allocation Fund is Surplus Funds and is no
longer required for use pursuant to the provisions of the Act and
Ordinances No. 0 -82 -33 and No. 0- 82 -34.
SECTION That the Finance Director of the Village of
THREE: Deerfield is hereby directed to follow the
statutory provisions for the reallocation of
Surplus Funds to the appropriate taxing bodies within both Cook
and Lake Counties and to take the required steps to promptly
insure the redistribution of Surplus Funds to said taxing bodies.
RESOLUTION.NO. R -94 -13
SECTION That the Village Clerk shall provide such
FOUR: certified copies of this Resolution as may be
required for the purposes of effectuating the
redistribution of Surplus Funds in the manner set forth above.
SECTION That this Resolution shall be in full force and
FI effect from and after its passage in the manner
provided by law.
AYES:
NAYS:
ABSENT:
PASSED: This ay of , A.D., 1994
APPROVED: This (�_ day of ,�, A.D., 1994
VILLAGE PRESIDENT
ATTEST:
RU VILLAGE CLERK
Balance 12/1194
Expenditures and Tra1
Public Works Facility
Train Station
TIF Exp (Brickyards)
TIF E)p (Other)
Total
Available For Rebate
(1994 Rebate)
TIF 1 Rebate (1994)
9,275,150
2,810,000
8 465 150
1994 Rebate
1993 Rebate 1992 Rebate
1991 Rebate 19W Rebate
Total
Lake County 2,600,702
2,328,320 2,099,846
2,428,846 2,513,375
11,971,089
Cook County 3,864,447
3 530,859 3X3,589
4203,622 5,463.883
20,426,400
6,465,150
5,859,179 5,463,435
6,632,468 7,977,258
32,397,490
Tax impact selected gov
School Dist 109
School Dist 113
Park Dist
Fire Dist
Village of DF (w /o lib
lbrary
Lake County
West Deerfield Town
Forest Preserve
Mosquito Dist
College 532
Tax Rate % of 1993
(1993) Tax Bill Projected Actual Change %
1994 1993 1994 -1993 Change
2.224 $285% 854,226 755,680 98,546 13%
1.839 27.16% 706,349 630,410 75,939 12%
0.483 7.13% 185,618 171,653 13,865 8%
0.574 8.48% 220,470, 201,788 18,685 996
nary
0.547
8.08%
210,100
199,079
11,021
6%
0.174
2.579E
66,832
68,909
7,923
13%
0.519
7.67%
199,345
179,102
20,243
0.023
0.34%
8,834
7,787
1,047
13%
0.158
2.33%
60,687
46,045
14,642
32%
0.011
0.16%
4,225
3,38!3
839
25%
0.219
3.23%
84,117
74,485
9,632
13%
6.771
100.00%
2,600,702
2,328,321
272,381
12%