HomeMy WebLinkAboutOrdinances - ORD-12-1615 - 12/03/2012 - ABATE RE TAXES LEVIED FOR 2012/GO BONDS 3 275 000ORDINANCE NO. ORD-12-1615
AN ORDINANCE PROVIDING FOR AN ABATEMENT OF REAL ESTATE
TAXES LEVIED FOR THE 2012 TAX LEVY YEAR PURSUANT TO AN
ORDINANCE ADOPTED BY THE CITY COUNCIL OF THE CITY OF
MCHENRY, ILLINOIS,ON MAY 21,2007, PROVIDING FORTHEISSUANCE
OF $3,275,000 GENERAL OBLIGATION BONDS (ALTERNATE), SERIES
2007 OF THE CITY OF MCHENRY, ILLINOIS, FOR THE PURPOSE OF
FINANCING THE PURCHASE OF PROPERTY TO HOUSE THE PUBLIC
WORKS GARAGE.
WHEREAS, an ordinance was adopted by the City Council of the City of McHenry, Illinois on May
21, 2007 providing for the issuance of $3,275,000 General Obligation Bonds (Alternate), Series 2007 of
the City of McHenry, Illinois, for the purpose of financing the purchase of property located at 1415
Industrial Drive to house the Public Works Garage; and
WHEREAS, the Series 2007 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 by 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 2012 Tax Levy Year in the amount of $246,395.00 for the payment of the principal and interest due
in the year 2013 on the Series 2007 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 2007 Bonds otherwise payable
from such levy for the 2012 Tax Levy Year are on deposit in the Series 2007 Debt Service 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 taxes levied for the Tax Levy
Year 2012 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 2012 Tax Levy Year pursuant to
the ordinance adopted by the City Council of the City of McHenry, Illinois on May 21, 2007, providing for
the issuance of $3,275,000 General Obligation Bonds (Alternate), Series 2007 of the City of McHenry,
Illinois, for the purpose of financing the purchase of the property located at 141S Industrial Drive to
house the Public Works Garage; 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 3rd day of December, 2012.
VOTING AYE: Santi, Glab, Schaefer, Blake, Wimmer, Peterson, Condon.
VOTING NAY: NONE.
NOTVOTING: NONE.
ABSTAINED: NONE.
ABSENT: NONE.
Mayor
ATTEST:
city C
City of MCHenry
333 South Green Street
McHenry, Illinois 60050-5495
www.ci.mchenry.il.us
Mayor's Office
(815) 363-2108
Fax (815) 363-2119
Administration
(815) 363-2100 CERTIFICATION
Fax (815) 363-2119
Construction and
Neighborhood Services 11 Marcia M. Geraghty, Executive Assistant in and for the City of McHenry,
(815) 363-2170
Fax (815) 363-2173 Illinois, do hereby certify that the attached document is a true and correct copy of the
Finance Department
(815) 363-2100 McHenry City Ordinance No. ORD-12-1615 providing for an abatement of real estate
Fax (815) 363-2119
taxes in the amount of S246,395.00 levied for the 2012 Tax Levy Year for repayment of
Parks and Recreation
(815) 363-2160
Fax (815) 363-3186 Series 2007 General Obligation Bonds issued to defray the cost of financing the
Police Non -Emergency purchase of property to house the Public Works Garage for the City of McHenry. Said
(815) 363-2200
Fax (815) 363-2149 ordinance was passed and approved at a regular City Council Meeting held on the 3rd
Public Works
(815) 363-2186 day of December, 2012 and was signed by the Mayor on December 3, 2012.
Fax (815) 363-2214
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
Mayor corporate seal of the City of McHenry, Illinois this 12d' day of December, 2012.
Susan E. Low
City Clerk
Janice C. Jones
Treasurer
Steven C. Murgatroyd (SEAL)
Aldermen Marcia M. G, r ghty, Exec tiiv�eLAssistant
WARD 1 City of McHenry, Illinois
Victor A. Santi
WARD 2
Andrew A. Glab
WARD 3
Jeffrey A. Schaefer
WARD 4
Geoffrey T. Blake
WARD 5
Richard W. Wimmer
WARD 6
Robert J. Peterson
WARD 7
Geri A. Condon