Loading...
HomeMy WebLinkAboutOrdinances - 22-82 - 12/19/2022 - Abating GOB $6,375,000CITY OF MCHENRY MCHENRY COUNTY STATE OF ILLINOIS Ordinance 22-82 AN ORDINANCE PROVIDING FOR AN ABATEMENT OF REAL ESTATE TAXES LEVIED FOR THE 2022 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 19, 2022 Published in pamphlet form by authority of the Mayor and City Council of the City of McHenry, McHenry County, Illinois this 20t'' day of December 2022 ORDINANCE NO. 22-82 AN ORDINANCE PROVIDING FOR AN ABATEMENT OF REAL ESTATE TAXES LEVIED FOR THE 2022 TAX LEVY YEAR PURSUANT TO AN ORDINANCE ADOPTED BYTHE CITYCOUNCILOFTHECITYOF 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 201 2015, providingforthe 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 bythe 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, pursuantto the aforesaid Supplemental Ordinance a directtax has been levied forthe 2022 Tax LevyYearin the amount of$579,378.76 forthe paymentofthe principal and interestdue in the year 2023 on the Series 2015 Bonds authorized by said ordinance; and WHEREAS, the City's distributive share of sales and use taxes imposed bythe State of Illinois and derived from transactions at places of business located wn the boundaries ofthe Citywhich have been pledged for the payment ofthe principal and interest on the Series 2015 Bonds otherwise payable from such levy for the 2022 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 2022 pursuant to said Ordinance shall be abated. NOW THEREFORE, BE IT ORDAINED BYTHECITY COUNCILOFTHE CITY OF MCHENRY, MCHENRY COUNTY, ILLINOIS, as follows: SECTION 1. All real estate taxes authorized to be levied for the 2022 Tax Levy Year pursuantto the ordinance adopted bythe 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 I 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 pamphletform byand underthe authorityofthe Corporate Authorities of the City of McHenry, Illinois, SECTION 5. This ordinance shall be in full force and effect immediatelyfromand afteritspassage, approval and publication, as provided by law. monte Passed and approved this 19th day of December, 2022. Ayes Alderman Devine Alderman Glab X Alderman Harding X Alderman McClatchey X Alderwoman Miller X Alderman Santi X Alderman Strach ayor Nays Absent V Absta i n Trisl"ia Ramel, City Clerk 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 Clerk, I am the keeper of the records and minutes and proceedings of the Mayor and Aldermen of said City of McHenry. do hereby further certify that at a regular meeting of the Mayor and Aldermen of the City of McHenry, held on the 21s' day of November, 2022, the foregoing ordinance entitled'AN ORDINANCE PROVIDING FOR AN ABATEMENT OF REAL ESTATE TAXES LEVIED FOR THE 2022 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, was duly passed by the City Council of the City of McHenry. The pamphlet form of Ordinance No. 22-82, 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 20th day of December 2022, 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 20th day of December, 2022. /Y q- b Monte Johnson, Deputy City Clerk City of McHenry McHenry County, Illinois (seal)