VILLAGE OF BELLWOOD Cook County, Illinois

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1 VILLAGE OF BELLWOOD Cook County, Illinois $7,905,000 General Obligation Bonds, Series 2008 $26,000,000 General Obligation Bonds, Series 2006B $16,650,000 General Obligation Refunding Bonds, Series 2006A $7,500,000 General Obligation Bonds, Series 2005B $6,945,000 General Obligation Bonds, Series 2005A (CUSIP Number ) Fiscal Year Ending December 31, 2009 Annual Information Disclosure CURRENT PROPERTY VALUATIONS Valuation 2009 Estimated Market Value $ 985,512, Equalized Assessed Value $ 328,504,078 EQUALIZED ASSESSED VALUE BY CLASSIFICATION (1) Residential $ 180,059,346 $ 184,485,706 $ 194,858,915 $ 216,781,181 N/A Commercial 34,052,019 22,742,581 19,000,418 1,566,702 N/A Industrial 97,004,685 90,714,105 93,030, ,911,945 N/A Railroad 678, , , ,531 N/A Total $ 311,794,851 $ 298,629,447 $ 307,672,724 $ 324,106,359 $ 328,504,078 Percent Increase 17.74% -4.22% 3.03% 5.34% 1.36% See Note: (4) (1) Source: Cook County Clerk s office. Percentage based on 2004 EAV of $264,818,989. Reassessment year. (4) Decrease due to decrease in multiplier. 1

2 DEBT The Village is a home rule municipality and, as such, has no general obligation debt limit, is not required to seek referendum approval for the issuance of the Bonds, and has no statutory tax rate limitations for any purpose. The Village has used its general obligation debt borrowings for a variety of purposes. STATEMENT OF DIRECT OUTSTANDING GENERAL OBLIGATION BONDS & NOTES DEBT General Obligation Bonds and Notes: Total Debt Outstanding Self- Supporting (1) 2005A G.O. Bonds (due 12/1/09-18) $ 5,050,000 $ 0 $ 5,050, B G.O. Bonds (due 12/1/09-25) 6,455, ,455, A G.O. Bonds (due 12/1/09-32) 15,025, ,025, B G.O. Bonds (due 12/1/13-29) 26,000,000 26,000, G.O. Bonds (due 12/1/29) 7,905,000 7,905, G.O. Economic Development Notes (due 12/1/15) 735, , G.O. Economic Development Notes (due 9/30/11) 22,975,000 22,975, Promissory Note (due 7/16/10) 900, , G.O. Economic Development Notes (due 9/30/12) 3,800,000 3,800, G.O. Economic Development Notes (due 9/30/12) 1,600,000 1,600, G.O. Economic Development Notes (due 9/30/12) 2,000,000 2,000, G.O. Economic Development Notes (due 9/30/12) 4,500,000 4,500,000 0 Total $96,945,000 $ 70,415,000 $ 26,530,000 (1) Indicates issues which have been paid or are anticipated to be paid from sources other than property taxes. The Village intends to repay this issue with TIF revenues. The Village has authorized the issuance of various G.O. Economic Development Notes to purchase land and buildings for the purpose of redevelopment. The Village is required to make quarterly interest payments on the notes. The principal due on the notes is payable at maturity, and the Village has a repayment at anytime option prior to maturity. To date the Village has repaid the notes with TIF revenues or enterprise revenues from underlying lease agreements associated with the property purchased. The Village also has the option to repay the notes from the sale of purchased properties. Net DEBT STATEMENT Total Net General Obligation Bonds & Notes Payable $ 26,530,000 Equalized Assessed Valuation (2009) $ 328,504,078 Estimated Full Valuation $ 985,512, Census Population 20,535 Net Direct Debt Per Capita $ 1,292 Ratio of: Net Direct Debt to EAV 8.08% Net Direct Debt to Estimated Full Valuation 2.69% 2

3 SCHEDULE OF BONDED INDEBTEDNESS Retirement Schedule of Outstanding Village General Obligation Bonds and Notes Debt (Principal Only) Cumulative Property Tax Fiscal Total Bond Less: Self- Total Paid by Supported Principal Retired Year and Note Debt Supporting Debt Property Taxes Amount Percent 2010 $ 3,215,000 $ 2,090,000 $ 1,125,000 $ 1,125, % ,185,000 $ 22,000,000 $ 1,185,000 2,310, % ,265,000 $ 12,020,000 $ 1,245,000 3,555, % ,625,000 $ 325,000 $ 1,300,000 4,855, % ,760,000 $ 395,000 $ 1,365,000 6,220, % ,885,000 $ 1,450,000 $ 1,435,000 7,655, % ,190,000 $ 1,680,000 $ 1,510,000 9,165, % ,280,000 $ 1,710,000 $ 1,570,000 10,735, % ,385,000 $ 1,745,000 $ 1,640,000 12,375, % ,150,000 $ 2,155,000 $ 995,000 13,370, % ,245,000 $ 1,205,000 $ 1,040,000 14,410, % ,350,000 $ 1,265,000 $ 1,085,000 15,495, % ,590,000 $ 2,460,000 $ 1,130,000 16,625, % ,980,000 $ 1,800,000 $ 1,180,000 17,805, % ,120,000 $ 1,885,000 $ 1,235,000 19,040, % ,685,000 $ 2,395,000 $ 1,290,000 20,330, % ,280,000 $ 2,505,000 $ 775,000 21,105, % ,430,000 $ 2,620,000 $ 810,000 21,915, % ,095,000 $ 4,250,000 $ 845,000 22,760, % ,340,000 $ 4,460,000 $ 880,000 23,640, % ,000 $ - $ 920,000 24,560, % ,000 $ - $ 965,000 25,525, % ,005,000 $ - $ 1,005,000 26,530, % $ 96,945,000 $ 70,415,000 $ 26,530,000 Source: The Village Note: Self-Supporting Debt includes outstanding 2005, 2006, 2007, 2008 and 2009 G.O. Economic Development Notes and the Series 2006B G.O. Bonds and the Series 2008 G.O. Bonds that are projected to be paid by enterprise revenues from underlying lease agreements associated with purchased properties or TIF revenues. The Village also has the option to repay the Notes from the sale of purchased properties. 3

4 TAX LEVIES, COLLECTIONS, AND TAX RATES TAX LEVIES AND COLLECTIONS Tax Extension Collections to Date and Back Taxes Percent of Current and Back Taxes Collected to Date 2004/05 $11,495,792 $11,455, % 2005/06 11,879,612 11,784, % 2006/07 12,637,998 12,552, % 2007/08 13,814,505 13,561, % 2008/09 14,129,687 13,297, % 2009/10 16,195,242 In process of collection TAX RATES Property tax rates are expressed in dollars per $100 of Equalized Assessed Value. Fund Corporate Fund $ $ $ $ $ Bonds and Interest Police Pension Fire Pension IMRF Total Village Tax Rate Cook County Cook County Forest Preserve District Metropolitan Water Reclamation District Suburban T.B. Sanitarium Consolidated Elections Proviso Township General Assistance Proviso Mental Health District Des Plaines Valley Mosquito Abatement Village of Bellwood Library Fund School District No Proviso Twp High School District No Triton Community College District No Memorial Park District Total Representative Tax Rate $ $ $ $ $ Public Act , effective June 30, 2006 provides that the only ceiling on a particular tax rate is the ceiling set by statute above which the rate is not permitted to be further increased by referendum or otherwise. 4

5 SUMMARY GENERAL FUND INFORMATION Statement of Revenues, Expenditures and Changes in Fund Balance General Fund Fiscal Year Ended December Revenues: Property Taxes $9,361,294 $9,573,305 $9,597,835 $10,459,020 $10,394,116 Local Taxes 3,863,559 4,022,974 4,177,954 4,339,739 3,831,857 Intergovernmental Revenues 2,084,081 2,247,123 2,520,349 2,577,827 2,229,740 Licenses, Permits and Fees 1,103,073 1,202,348 1,043, ,649 1,246,615 Fines and Traffic Violations 1,030,495 1,035,757 2,134,926 2,089,591 1,597,430 Charges for Services 25,543 29,047 27,411 24,370 23,071 Interest 79, , ,668 45,680 21,290 Grants 66, ,483 73, , ,170 Miscellaneous 498, , , , ,722 Total Revenues $18,112,752 $19,005,599 $20,340,013 $21,444,653 $20,322,011 Expenditures: Current Operating: (1) General Government $8,109,802 $8,054,676 $9,226,017 $9,662,370 $9,988,190 Public Safety - Police 5,501,761 5,750,426 6,655,851 6,776,387 8,510,396 Public Safety - Fire 2,548,769 2,610,765 2,513,116 2,905,504 2,929,970 Other Public Safety 1,075,059 1,121,703 1,340,902 1,372,508 1,321,944 Highways and Streets 1,468,167 1,706,505 1,942,181 1,640,970 2,109,146 Welfare & Civil Defense 75,702 50,653 83,709 63, ,800 Debt Service ,531 Total Expenditures $18,779,260 $19,294,728 $21,761,776 $22,421,037 $25,127,977 Revenues over (under) Expenditures ($666,508) ($289,129) ($1,421,763) ($976,384) ($4,805,966) Other Financial Sources/Uses Bond/Loan Proceeds 1,986, ,740 3,800,000 1,797,903 4,632,454 Capital Outlay (1,035,992) (1,562,909) (1,194,725) (557,983) 46,980 Debt Service (41,312) (88,440) (111,762) (123,431) 0 Operating Transfers In (Out) ,052,960 (575,595) Excess of Revenues and Other Finances Sources or (Expenditures and Uses) 242,525 (1,746,738) 1,071,750 1,193,065 (702,127) Fund Balance, Beginning 2,020,065 2,620, ,982 1,945,732 3,138,797 Fund Balance Ending $2,262,590 $873,982 $1,945,732 $3,138,797 $2,436,670 (1) Excludes capital outlay and debt service that has been reclassified under other financing sources or uses. As restated after year-end. Source: Audited Financial Statements of the Village. 5

Village of Bellwood, IL

Village of Bellwood, IL Series 2012 Annual Budget Fiscal Year Ended December 31, 2016 Annual Budget Filed with EMMA Separately Debt Information Direct General Obligation Bond Debt General Obligation Bonded Debt Total General