HomeMy WebLinkAboutOrdinances - ORD-09-1486 - 11/16/2009 - ABATE RE TAXES SERIES 2000A 2009 TAX YEAR $460 912ORDINANCE NO. ORD-09-1486
AN ORDINANCE PROVIDING FOR AN ABATEMENT OF REAL ESTATE
TAXES LEVIED FOR THE 2009 TAX LEVY YEAR PURSUANT TO AN
ORDINANCE ADOPTED BY THE CITY COUNCIL OF THE CITY OF
MCHENRY, ILLINOIS, ON OCTOBER 18, 2000, PROVIDING FOR THE
ISSUANCE OF $3,500,000 GENERAL OBLIGATION REFUNDING BONDS,
(MOTOR FUEL TAX ALTERNATE REVENUE SOURCE), SERIES 2000A OF
THE CITY OF MCHENRY, ILLINOIS.
WHEREAS, an ordinance was adopted by the City Council of the City of McHenry, Illinois on
October 18, 2000 providing for the issuance of $3,500,000 General Obligation Bonds (Motor Fuel Tax
Alternate Revenue Source), Series 2000A of the City of McHenry, Illinois, prescribing the details of said
bonds and providing; for collection, segregation, and application of certain motor fuel taxes to pay said
bonds; and
WHEREAS, the Series 2000A Bonds are payable from, and are secured by a pledge of, the City's
distributive share of motor fuel taxes imposed by the State of Illinois; and
WHEREAS, pursuant to the aforesaid Supplemental Ordinance a direct tax has been levied for
the 2009 Tax Levy Year in the amount of $460,912.50 for the payment of the principal and interest due
in the year 2010 on the Series 2000A Bonds authorized by said ordinance; and
WHEREAS, the City's distributive share of motor fuel taxes imposed by the State of Illinois which
have been pledged for the payment of the principal and interest on the Series 2000A Bonds otherwise
payable from such Levy for the 2009 Tax Levy Year are on deposit in the Series 2000A Debt Service 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 2009 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 2009 Tax Levy Year pursuant to
the ordinance adopted by the City Council of the City of McHenry, Illinois on October 18, 2000, providing
for the issuance of $3,500,000 General Obligation Bonds, (Motor Fuel Tax Alternate Revenue Source)
Series 2000A of the City of McHenry, Illinois, 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 16T" day of November, 2009.
Voting Aye: Santi, Glab, Schaefer, Blake, Wimmer, Peterson, Condon.
Voting Nay: None
Not Voting: None
Abstaining: None
Absent: None
Mayor
ATTEST:
City erk