Ordinance 2007-085 STATE OF ILLINOIS
COUNTY OF KENOALL
- FILED -
DEC 2 0 2007
STATE OF ILLINOIS ) ��� COUN L L ERK
) ss
COUNTY OF KENDALL )
Ordinance No. aoo x-%'S
ORDINANCE ABATING SPECIAL SERVICE AREA TAXES
FOR SPECIAL SERVICE AREA NUMBER 2005 -108
(AUTUMN CREEK PROJECT) AND
APPROVING THE AMENDED SPECIAL TAX ROLL
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 "City "), as follows:
(a) The City Council of the City adopted Ordinance No. 2006 -26 on March
28, 2006 (the "Bond Ordinance ") which: (i) provided for the issuance of Special Service Area
Number 2005 -108 Special Tax Bonds, Series 2006 (Autumn Creek Project) (the "Bonds "), of the
United City of Yorkville, for the purpose of paying for the costs of certain improvements
benefiting the Special Service Area Number 2005 -108 (the "Special Service Area "); and (ii)
provided for the levy of Special Taxes 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 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 Number
I
CH12 799728.2
2005 -108 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 $975,549.54 and the
2007 Levy for Special Taxes is $975,549.54.
Section 2. Of the $1,072,600 of Special Taxes levied for calendar year 2007 pursuant
to Section 6 of the Bond Ordinance $97,050.46 of such Special Tax is hereby abated resulting in
a 2007 calendar year levy of $975,549.54.
I
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. The City Council of the City hereby approves the United City of Yorkville
Special Service Area Number 2005 -108 Amended Special Tax Roll and Explanation of the
Methodology to Amend the Special Tax Roll for Calendar Year 2007 prepared by David Taussig
& Associates, Inc. for the Special Service Area dated October 19, 2007 with such changes
therein as are deemed necessary by the Mayor and the City's consultant to reflect any changes in
final parcel identification numbers.
Section 5. 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.
2
CH12_799728.2
PASSED by the City Council of the City this December J 1 , 2007.
Voting Aye (list names): LEs..��,,We�orypa ax.%usY-A P.,AC -kAtn �Mzr4
Voting Nay (list names): —
Abstaining (list names):
Absent (list names):
L! C�i�yC erk
SIGNED by the Mayor this December , 2007.
(/ c
Mayor
ATTEST:
ty Clem
Published in pamphlet form December 1, 2007.
3
CHI2 799728.2
I