Ordinance 2006-141 COUN Y OF�KENDALL
-- FI LED -
ORDINANCE NO. ,=.)Ohto I q DEC 15 2006
ORDINANCE ABATING SPECIAL SERVICE AREA TAX , County Clerk
FOR SPECIAL SERVICE AREA NUMBER 2003 -100 p`° Kendall County
(RAINTREE VILLAGE 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. 2003 -55 on
August 12, 2003 (the "Bond Ordinance ") which: (i) provided for the issuance of
$7,150,000 of Special Service Area Number 2003 -100 Special Tax Bonds, Series 2003
(Raintree Village 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 2003 -100 (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 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
Tax Roll and Report for the Special Service Area (the "Special Tax Roll ") prepared by
David Taussig & Associates, Inc. (the "Consultant ").
(b) Pursuant to the Special Tax Roll, the Consultant of the City has
I
determined that the Special Tax Requirement for 2006 for the Bonds is $488,490.36 and
Il i
CH12 658176.1
i
the 2006 Levy for Special Taxes is $488,490.36 (which complies with the Kendall
County tax billing requirement of rounding the per parcel special tax up to the nearest
even cent on single family property).
Section 2. Of the $588,072.00 of Special Taxes levied for calendar year 2006
pursuant to Section 6 of the Bond Ordinance $99,581.64 of such Special Taxes is hereby abated
resulting in a 2006 calendar year levy of $488,490.36.
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 2003 -100 Amended Special Tax Roll and Explanation of the
Methodology to Amend the Special Tax Roll for calendar year 2006 prepared by David Taussig
& Associates, Inc. for the Special Service Area dated November 30, 2006 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.
�I
2
CH 12_658176.1
PASSED by the City Council of the City this December %a_, 2006.
Voting Aye (list names):
Voting Nay (list names):
Abstaining (list names):
Absent (list names): _
I
Cit Clerk
SIGNED by the Mayor this December \ d. , 2006.
� I
Mayor
ATTEST:
City Clerk
Published in pamphlet form December 2006.
3
CH12 658176.1