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Home My WebLink AboutOrdinances - 20-57 - 12/21/2020 - Abatement of Taxes - Series 2015 CITY OF MCHENRY MCHENRY COUNTY STATE OF ILLINOIS Ordinance 20-57 AN ORDINANCE PROVIDING FOR AN ABATEMENT OF REAL ESTATE TAXES LEVIED FOR THE 2020 TAX LEVY YEAR PURSUANT TO AN ORDINANCE ADOPTED BY THE CITY COUNCIL OF THE CITY OF MCHENRY, ILLINOIS, ON APRIL 20, 2015, PROVIDING FOR THE ISSUANCE OF$6,375,000 GENERAL OBLIGATION (REFUNDING) BONDS SERIES 2015 OF THE CITY OF MCHENRY, ILLINOIS,TO REFUND SERIES 2006 GENERAL OBLIGATION BONDS,ADVANCE REFUND SERIES 2007 GENERAL OBLIGATION BONDS AND ISSUE$2,015,000 FOR CONSTRUCTION OF THE RECREATION CENTER AT 3636 MUNICPAL DRIVE. Passed by the Mayor and City Council Of the City of McHenry McHenry County State of Illinois December 21, 2020 Published in pamphlet form by authority of the Mayor and City Council of the City of McHenry, McHenry County, Illinois this 22nd day of December, 2020. ORDINANCE NO. 20-57 AN ORDINANCE PROVIDING FOR AN ABATEMENT OF REAL ESTATE TAXES LEVIED FOR THE 2020 TAX LEVY YEAR PURSUANT TO AN ORDINANCE ADOPTED BY THE CITY COUNCIL OF THE CITY OF MCHENRY, ILLINOIS, ON APRIL 20, 2015, PROVIDING FOR THE ISSUANCE OF $6,375,000 GENERAL OBLIGATION (REFUNDING) BONDS SERIES 2015 OF THE CITY OF MCHENRY, ILLINOIS, TO REFUND SERIES 2006 GENERAL OBLIGATION BONDS, ADVANCE REFUND SERIES 2007 GENERAL OBLIGATION BONDS AND ISSUE $2,015,000 FOR CONSTRUCTION OF THE RECREATION CENTER AT 3636 MUNICPAL DRIVE. WHEREAS, an ordinance was adopted by the City Council of the City of McHenry, Illinois on April 20, 2015, providing for the issuance of$6,375,000 General Obligation (Refunding) Bonds, Series 2015 of the City of McHenry, Illinois, to refund Series 2006 General Obligation Bonds, advance refund Series 2007 General Obligation Bonds, and issue $2,015,000 for construction of the Recreation Center at 3636 Municipal Drive. WHEREAS, the Series 2015 Bonds are payable from, and are secured by a pledge of, the City's distributive share of sales and use taxes imposed by the State of Illinois and derived from transactions at places of business located within the boundaries of the City, including monies paid by the State in replacement of the City's distributive share of such taxes; and WHEREAS, pursuant to the aforesaid Supplemental Ordinance a direct tax has been levied for the 2020 Tax Levy Year in the amount of$578,978.76 for the payment of the principal and interest due in the year 2021 on the Series 2015 Bonds authorized by said ordinance; and WHEREAS,the City's distributive share of sales and use taxes imposed by the State of Illinois and derived from transactions at places of business located within the boundaries of the City which have been pledged for the payment of the principal and interest on the Series 2015 Bonds otherwise payable from such levy for the 2020 Tax Levy Year are on deposit in the Series 2015 Project Fund established by Section 13 of the aforesaid Ordinance and it is therefore the determination of the Corporate Authorities of the City of McHenry, Illinois that the real estate taxed levied for the Tax Levy Year 2020 pursuant to said Ordinance shall be abated. NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF MCHENRY, MCHENRY COUNTY, ILLINOIS, as follows: SECTION 1. All real estate taxes authorized to be levied for the 2020 Tax Levy Year pursuant to the ordinance adopted by the City Council of the City of McHenry, Illinois on April 20, 2015, providing for the issuance of $6,375,000 General Obligation (Refunding) Bonds, Series 2015 of the City of McHenry, Illinois, to refund Series 2006 General Obligation Bonds, advance refund Series 2007 General Obligation Bonds, and issue $2,015,000 for construction of the Recreation Center at 3636 Municipal Drive; be and they are thereby abated in the amount of 100%thereof. SECTION 2. The City Clerk shall file a certified copy of this Ordinance in the Offices of the Clerk of the County of McHenry, Illinois after the effective date of this ordinance. SECTION 3. All ordinances or parts thereof in conflict with the terms and provisions hereof be and the same hereby repealed to the extent of such conflict. SECTION 4. This ordinance shall be published in pamphlet form by and under the authority of the Corporate Authorities of the City of McHenry, Illinois. SECTION 5. This ordinance shall be in full force and effect immediately from and after its passage, approval and publication, as provided by law. Passed and approved this 215t day of December, 2020. Aves Nays Absent Abstain Alderman Devine Alderman Glab a' Alderman Harding X Alderman Mihevc 4' Alderwoman Miller Y Alderman Santi Alderman Schaefer 9 Wayne ett a or Trisha A. A� Ramel, City Clerk STATE OF ILLINOIS ) COUNTY OF MCHENRY ) CERTIFICATION I, Monte Johnson, do hereby certify that I am the duly appointed, acting and qualified Deputy City Clerk of the City of McHenry,McHenry County, Illinois, and that as such City Clerk, I am the keeper of the records and minutes and proceedings of the Mayor and Aldermen of said City of McHenry. I do hereby further certify that at a regular meeting of the Mayor and Aldermen of the City of McHenry, held on the 21 st day of December, 2020, the foregoing document titled "AN ORDINANCE PROVIDING FOR AN ABATEMENT OF REAL ESTATE TAXES LEVIED FOR THE 2020 TAX LEVY YEAR PURSUANT TO AN ORDINANCE ADOPTED BY THE CITY COUNCIL OF THE CITY OF MCHENRY, ILLINOIS, ON APRIL 20, 2015, PROVIDING FOR THE ISSUANCE OF$6,3 75,000 GENERAL OBLIGATION(REFUNDING)BONDS SERIES 2015 OF THE CITY OF MCHENRY, ILLINOIS, TO REFUND SERIES 2006 GENERAL OBLIGATION BONDS, ADVANCE REFUND SERIES 2007 GENERAL OBLIGATION BONDS AND ISSUE $2,015,000 FOR CONSTRUCTION OF THE RECREATION CENTER AT 3636 MUNICPAL DRIVE" was duly adopted by the City Council of the City of McHenry. The pamphlet form of Ordinance 20-57,including the Ordinance and a cover sheet thereof, was prepared, and a copy of such Ordinance was posted in the City Hall, commencing on the 22°d day of December,2020, and will continue for at least 10 days thereafter. Copies of such Ordinance are also available for public inspection upon request in the office of the City Clerk. I do further certify that the original, of which the attached is a true and correct copy, is entrusted to me as the Clerk of said City for safekeeping, and that I am the lawful custodian and keeper of the same. GIVEN under my hand and seal this 22nd day of December, 2020. Monte Johnson, Deputy City Clerk City of McHenry, McHenry County, Illinois (SEAL)