HomeMy WebLinkAboutOrdinances - ORD-09-1488 - 11/16/2009 - ABATE RE TAXES SSA #1A $25 000 2009 TAX YEARORDINANCE NO.ORD-09-1488
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 DECEMBER 23, 1999, AUTHORIZING AND
PROVIDING FOR THE CREATION OF SPECIAL SERVICE AREA #1A, FOR
THE PURPOSE OF UNDERWRITING THE COST OF INSTALLING TRAFFIC
LAME IMPROVEMENTS AND TRAFFIC SIGNALIZATION AT THE
INTERSECTION OF SHAMROCK LANE AND ILLINOIS STATE ROUTE 31.
WHEREAS, an ordinance was adopted by the City Council of the City of McHenry, Illinois on
December 13, 1999 Authorizing the Creation of Special Service Area #lA in the City of McHenry, Illinois
for the purpose of defraying the cost of installing traffic lane improvements and traffic signalization at
the intersection of Shamrock Lane and Illinois State Route 31 for the City of McHenry, McHenry, Illinois.
WHEREAS, it has hereby been estimated that the cost of providing the services identified in the
ordinance will not be more than $800,000;
WHEREAS, it is in the public interest that bonds in an amount not -to -exceed $800,000 be issued
for the purpose of paying the cost of providing the services identified in the ordinance establishing
Special Service Area #1A; and
WHEREAS, the bonds shall be retired by the levy of a direct annual tax sufficient to pay the
interest on the bonds and to discharge the principal thereof at maturity; and
WHEREAS, the City of McHenry has agreed to pay its fair share of the annual debt service cost
on these bonds and it has been determined the City's annual public benefit portion for the debt service
cost to be $25,000.
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 December, 13, 1999,
authorizing and providing for the creation of a Special Service Area #1A in the City of McHenry, Illinois,
be and they are hereby abated in the amount of $25,000.
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: Sand, Glab, Schaefer, Blake, Wimmer, Peterson, Condon.
Voting Nay: None
Not Voting: None
Abstaining: None
Absent: None
Mayor
ATTEST:
City Cler