HomeMy WebLinkAboutOrdinances - ORD-08-1443 - 12/15/2008 - ABATE SERIES 2002 $372 775 2008 TAX YEARCity of McHenry
3.33 South Green Street All W1XW.Ci.rnchenry.il.us
l
McHenry, Illinois 60050-5/195
art _
Mayor's Office
(815) 363-2108
Fax (815) 363-2119
Clerk's Office
(815) 363-2100
Fax (815) 363-2128 C E R T I F I C A T I 0 N
Administration
(815) 363-2108
Fax (815) 363-2119 I, Kathleen M. Kunzer, Deputy City Clerk in and for the
Public Works City of McHenry, Illinois, do hereby certify that the attached
Community
Development
(F�15)363-2170 document is a true and correct copy of the McHenry City
Fax (815) 363-2173
Ordinance No. Ord-08-1443 providing for an abatement of real
Parks and Recreation
(815) 363-2160 estate taxes in the amount of $372 , 775.00 levied for the 2008
Fax (815) 363-3186
Police Non -Emergency Tax Levy Year for repayment of Series 2002 General Obligation
(815) 363-2200
Fax (815) 363-2149
Bonds issued to finance the Edgebrook Drainage and North
Mayor
Interceptor Sewer Projects.
Said ordinance was passed and
Susan E Low
approved at a regular City
Council Meeting
held on
the 15`"
City Clerk
Janice C Jones
day of December, 2008 and was signed by the
Mayor on
December
Treasurer
David M Welter
15, 2:008 .
Aldermen
.#.
IN WITNESS WHEREOF,
I have hereunto
set my
hand and
WARD 0
Victor A. Santi
affixed the corporate seal
of the City of
McHenry,
Illinois
WARD 2
Andrew A. Glab this 16th day of December, 2008.
WARD 3
Jeffrey A Schaefer (3EAh)
WARD Kath een M. Kunzer, D-eputJ City Clerk
Steven C Murgatroyd of the City of McHenry, Illinois
WARD 5
Richard W Wimmer
WARD 6
Robert J. Peterson
WARD 7
Geri A Condon
ORDINANCE NO. ORD-08-1443
AN ORDINANCE PROVIDING FOR AN ABATEMENT OF REAL ESTATE TAXES
LEVIED FOR THE 2008 TAX LEVY YEAR PURSUANT TO AN ORDINANCE
ADOPTED BY THE CITY COUNCIL OF THE CITY OF MCHENRY, ILLINOIS, ON
MAY 20, 2002, PROVIDING FOR THE ISSUANCE OF $3,900,000 GENERAL
OBLIGATION BONDS (ALTERNATE REVENUE SOURCE), SERIES 2002OFTHE
CITY OF MCHENRY, ILLINOIS, FOR THE PURPOSE OF FINANCING THE
EDGEBROOK DRAINAGE AND NORTH INTERCEPTOR SEWER PROJECTS.
WHEREAS, an ordinance was adopted by the City Council of the City of McHenry, Illinois on May 20,
2002 providing for the issuance of $3,900,000 General Obligation Bonds (Alternate Revenue Source), Series
2002 of the City of McHenry, Illinois, for the purpose of financing the Edgebrook Drainage and North
Interceptor Sewer Projects; and
WHEREAS, the Series 2002 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 bythe 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
2008 Tax Levy Year in the amount of $372,775 for the payment of the principal and interest due in the year
2009 on the Series 2002 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 2002 Bonds otherwise payable from such
levy for the 2008 Tax. Levy Year are on deposit in the Series 2002 Project Fund established by Section 12 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 2008 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 2008 Tax Levy Year pursuant to the
ordinance adopted by the City Council of the City of McHenry, Illinois on May 20, 2002, providing for the
issuance of $3,900,000 General Obligation Refunding Bonds, Series 2002 of the City of McHenry, Illinois, for
the purpose of financing the Edgebrook Drainage and North Interceptor Sewer Projects; be and they are
hereby 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 151h day of December, 2008.
AYES: SANTi, UAB, SCHAEFER, MURGATROYDI, WiMMER, PETERSON, CONDON
NAYS: NONE
NON E
NOT VOTING:
N O IN E
ABSTAINED:
ABSENT: NONE
Mayor
ATTEST:
City Cler /