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Home My WebLink AboutOrdinances - 23-68 - 12/18/2023 - Abate Taxes GOB $6,375,000 CITY OF MCHENRY MCHENRY COUNTY STATE OF ILLINOIS Ordinance 23-68 AN ORDIIVANCE PROVIDING FOR AN ABATEMENT OF REAL ESTATE TAXES LEVIED FOR THE 2023 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 GENERAI, 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 18, 2023 Published in pamphlet form by authority of the Mayor and City Council of the City of McHenry, McHenry County,Illinois this 19th day of December 2023 ORDINANCE NO. 23-68 AN ORDINANCE PROVIDING FOR AN ABATEMENT OF REAL ESTATE TAXES LEVIED FOR THE 2023 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 b.y 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 2023 Tax Levy Year in the amount of$584,026.26 for the payment of the principal and interest due in the year 2024 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 2023 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 2023 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 2023 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. monte Passed and approved this 18th day of December, 2023. Ayes Nays Absent Abstain Alderwoman Bassi K Alderman Glab X Alderman Koch X Alderman McClatchey x Alderwoman Miller _� Alderman Santi � Alderman Strach X � �� ,t 1. ��a- �....,. Wayne Jett, M yor Trisha Ramel, City Clerk �1 C.'��let STATE OF ILI,INOIS ) ) 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 ordinances for the 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 18th day of December, 2023, the foregoing document titled "AN ORDINANCE 1'ROVIDING FOR AN ABATEMENT OF REAL ESTATE TAXES LEVIED FOR THE 2023 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 ISSUANCL'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 CONSTR UCTION OF THE RECREATION CENTER AT 3636 MUNICPAL DRIVE" was duly adopted by the City Council of the City of McHenry. I do further certify that the original copy of Ordinance 23-68, 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 18th day of December, 2023. .� —" j�� ,- �1 „ �..+ , . Monte Johnson, Deputy City Clerk - � City of McHenry, -- +�`�.,. ._': . ., �� y McHenry County, Illinois : `(SEAL�', �,�' ti,> , ..