Ordinance 2007-015 STATEE OF ILLINOIS
COLINTI 01` K NDALL
F
I LED
_ FEB 2 2 2007
ORDINANCE NO. 900 _ J S
County Clerk
ORMNANCE abating the tax hereto levied for the year 2006 to pay Kendall County
the principal of and interest on $3,825,000 General Obligation
Bonds (Alternate Revenue Source), Series 2005A, of the United
City of Yorkville, Kendall County, Illinois.
WHEREAS the City Council (the "City Council") of the United City of Yorkville, Kendall
County, Illinois (the "City "), by Ordinance Number 2005 -52, adopted on the 14th day of June,
I
2005 (the "Ordinance "), did provide for the issue of $3,825,000 General Obligation Bonds
(Alternate Revenue Source), Series 2005A (the "Bonds"), and the levy of a direct annual tax
sufficient to pay the principal of and interest on the Bonds; and
WHEREAS the Pledged Revenues (as defined in the Ordinance) have been determined by
the City Treasurer to provide an amount not less than 1.25 times debt service of all Outstanding
Bonds (as defined in the Ordinance) in the next succeeding bond year (June 30 and
December 30); and
WHEREAS the Revenues have been deposited in the United City of Yorkville 2005A Bond
Fund (as created in the Ordinance) in an amount sufficient to pay debt service on all Outstanding
Bonds in the next succeeding bond year; and
WHEREAS it is necessary and in the best interests of the City that the tax heretofore levied
for the year 2006 to pay the principal of and interest on the Bonds be abated;
Now THEREFORE Be It Ordained by the City Council of the United City of Yorkville,
Kendall County, Illinois, as follows:
Section 1. Abatement of Tax. The tax heretofore levied for the year 2006 in the
I
Ordinance is hereby abated in its entirety.
Section 2. Filing of Ordinance. Forthwith upon the adoption of this ordinance, the
City Clerk shall file a certified copy hereof with The County of Kendall, Illinois, and it shall be
In-Town 2005A
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the duty of said County Clerk to abate said tax levied for the year 2006 in accordance with the
provisions hereof.
Section 3. Effective Date. This ordinance shall be in full force and effect forthwith
upon its passage by the City Council and signing and approval by the Mayor.
ADOPTED by the Corporate Authorities on the 13 day of February, 2007, pursuant to a
roll call vote as follows:
PAUL JAMES L MARTY MUNNS
JASON LESLIE , , , JIM BOCK
VALERIE BURD i , _ ROSE SPEARS ,
0
DEAN WOLFER JOSEPH BESCO
APPROVED by me, as Mayor of the United City of Yorkville, Kendall County, Illinois, the
13 day of February, 2007.
MAYOR
PASSED by the City Council of the United City of Yorkville, Kendall County, Illinois, the
13 day of February, 2007.
Atte
U CITY C�ERK
-2-
STATE OF ILLINOIS )
SS
COUNTY OF KENDALL )
FILING CERTIFICATE
I, the undersigned, do hereby certify that I am the duly qualified and acting County Clerk
of The County of Kendall, Illinois, and as such official I do further certify that on the O?°�
day of February , 2007, there was filed in my office a duly certified copy of Ordinance
No.o?007 - 15 entitled:
ORDINANCE abating the tax hereto levied for the year 2005 to pay
the principal of and interest on $3,825,000 General Obligation
Bonds (Alternate Revenue Source), Series 2005A, of the United
City of Yorkville, Kendall County, Illinois.
(the "Ordinance") duly adopted by the City Council of the United City of Yorkville, Kendall
County, Illinois (the "City"), on the 13` day of February, 2007, and that the same has been
deposited in the official files and records of my office.
I do further certify that the taxes heretofore levied for the year 2006 for the payment of
the City's $3,825,000 General Obligation Bonds (Alternate Revenue Source), Series 2005A, as
described in the Ordinance will be abated in their entirety as provided in the Ordinance.
IN WITNESS WHEREOF I hereunto affix my official signature and the seal of said County
this 6?a day of February , 2007.
County Clerk
[SEAL]