Ordinance 2007-084 STATE OF ILLINOIS
COUNTY OF KENDALL
STATE OF ILLINOIS ) - FILED -
) ss DEC 2 0 2007
COUNTY OF KENDALL )
COUNTY CLERK
KENDALL COUNTY
ORDINANCE NO.
ORDINANCE ABATING SPECIAL SERVICE AREA TAXES
FOR SPECIAL SERVICE AREA NUMBER 2004 -107
(I2AINTREE VILLAGE II PROJECT)
BE IT ORDAINED BY THE CITY COUNCIL OF THE UNITED CITY OF
YORKVILLE, KENDALL COUNTY, ILLINOIS, AS FOLLOWS:
Section 1. It is found and declared by the City Council of the United City of
Yorkville, Kendall County, Illinois (the "fit as follows:
(a) The City Council of the City adopted Ordinance No. 2005 -91 on
November 22, 2005 (the "Bond Ordinance ") which: (i) provided for the issuance of not
to exceed $10,000,000 of Special Service Area Number 2004 -107 Special Tax Bonds,
Series 2005 (Raintree Village II Project) (the " Bonds "), of the United City of Yorkville,
which were issued in the original principal amount of $9,400,000 for the purpose of
paying for the costs of certain improvements benefiting the Special Service Area Number
2004 -107 (the "Special Service Area"); and (ii) provided for the levy of a Special Tax
upon all taxable property within the Special Service Area sufficient to pay the principal
of the Bonds for each year at maturity or mandatory sinking fund redemption dates and to
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pay interest and Administrative Expenses of the Special Service Area for each such year.
The Bond Ordinance also authorized the City to abate the taxes levied pursuant to such
Ordinance to the extent the taxes levied exceeded the Special Tax Requirement (as
defined in the Bond Ordinance) as calculated pursuant to the Special Service Area
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Number 2004 -107 Special Tax Roll and Report (the "Special Tax Report") prepared by
David Taussig & Associates, Inc. (the "Consultant ").
(b) Pursuant to the Special Tax Report, the Consultant of the City has
determined that the Special Tax Requirement for 2007 for the Bonds is $646,614.66 and
the 2007 Levy for Special Taxes is $646,614.66.
Section 2. Of the $695,178 of Special Taxes levied for calendar year 2007 pursuant
to Section 6 of the Bond Ordinance $48,563.34 of such Special Taxes is hereby abated resulting
in a 2007 calendar year levy of $646,614.66.
Section 3. It is the duty of the County Clerk of Kendall County to abate those taxes
as provided in Section 2 of this Ordinance.
Section 4. All ordinances, resolutions and orders or parts of ordinances, resolutions
and orders in conflict with this ordinance are repealed to the extent of such conflict. The City
Clerk shall cause this Ordinance to be published in pamphlet form. This Ordinance shall be in
full force and effect after passage and publication as provided by law.
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CHI2_799700.2
PASSED by the City Council of the City this December )_L, 2007.
Voting Aye (list names):Ls&- M l�e�c��Pac�tt , Cs�.�t�s�c. ��4oClc1ER , .i�.,
Voting Nay (list names):
Abstaining (list names):
Absent (list names):
C y Clerk
SIGNED by the Mayor this December , 2007.
Mayor
ATTEST:
City erk
Published in pamphlet form December 2007.
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