Ordinance 2013-35 i
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UNITED CITY OF YORKVILLE
KENDALL COUNTY, ILLINOIS
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ORDINANCE NO , 2013-35
ORDINANCE AMENDING REQUIREMENTS FOR IMPROVEMENT SECURITIES
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Passed by the City Council of the
United City of Yorkville, Kendall County, Illinois
This 28"' day of May, 2013
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Published in pamphlet form by the
authority of the Mayor and City Council
of the United City of Yorkville, Kendall
County, Illinois on May 31 , 2013 .
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Ordinance No. 2013-
ORDINANCE AMENDING REQUIREMENTS FOR IMPROVEMENT SECURITIES
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WHEREAS , the United City of Yorkville, Kendall County, Illinois, is a non-home-rule
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municipality pursuant to the Illinois Municipal Code and Article VII , Section 7 of the
Constitution of the State of Illinois of 1970 ; and,
WHEREAS , as authorized by the Illinois Municipal Code, the City has established
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requirements , in connection with all development within its boundaries, for the posting of
securities upon completion of construction in an amount not less than twenty percent (20 %) of
the City engineer ' s estimate cost of the required public improvements to service any
development for a period of one ( 1 ) year from approval by the City Engineer until acceptance of
such improvements by the City, all as specifically set forth in Title 11 , Chapter 5 , Section 2 ( 11 -
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5 -2) of the City Code; and,
WHEREAS , the Mayor and City Council of the City (the " Corporate Authorities")
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approved a Final Plat for the O ' Keefe Subdivision Unit One by Craig R. Knocke & Associates
dated August 20 , 2007 , which Final Plat depicted the development of a water park to be known
as "Raging Waves " (the "Development") and recorded with the Kendall County Recorder on
May 22 , 2008 ; and,
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WHEREAS , as required by the City Code security for the public improvements for the
Development, in the amount of $428 , 952 . 02 was delivered to the City; and,
WHEREAS , as a part of the development approval process, the Corporate Authorities
imposed two and three-quarters percent (2 . 75 %) admission as tax which applied to the
Development and the City agreed to rebate said admissions tax, all as provided in an Annexation
Ordinance No . 2013 - J� j
Page 2
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Agreement dated September 26, 2006 , as amended June 10 , 2008 and June 22, 2011 (collectively
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the "Annexation. Agreements") ; and,
WHEREAS , the public improvements have been completed and approved by the City
engineer and the City now holds security in the amount of $ 100 , 000, pursuant to Ordinance
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2011 - 89 ; and,
WHEREAS , the City has been requested to release the amount of security the City now
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holds as a guarantee of the construction of the public improvements for the Development on the
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condition that the City withholds the distribution of any admissions tax generated by the
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Development until such public improvements are accepted by the City; and,
WHEREAS , the Corporate Authorities are prepared to consider the release of the
security required in connection with the Development on the condition that an escrow be
established into which any amounts of admissions tax to be rebated shall be deposited as security
for the $ 100 , 000 warranty period security amount, pursuant to Ordinance 2011 - 89, until such
time as said public improvements are accepted by the City.
NOW, THEREFORE, BE IT ORDAINED , by the Mayor and City Council of the
United City of Yorkville, Kendall County, Illinois, as follows :
Section 1 . The foregoing preambles are hereby adopted as if fully restated herein.
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Section 2. The security required in the amount of $ 100 , 000 , pursuant to Ordinance 2011 -
89 , is hereby released on the condition that admissions tax to be rebated pursuant to an
Annexation Agreement be held in escrow by the City in an amount equal to $ 100,000 until
expiration of the warranty period on January 8 , 2014, with said release subject to City
verification that the infrastructure accepted by the City meets the City ' s infrastructure standards
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Ordinance No . 2013 - JJ
Page 3
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Section 3. This Ordinance shall be in full force and effect immediately upon its passage
by the Mayor and City Council and approval as provided by law.
United City of Yorkville, Kendall County, Illinois, this D day of
1464 , A.D . 2013 ,
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CHRIS FUNKHOUSER � KEN KOCH �
\� \r
CARLO COLOSIMO DIANE TEELING \�
JACKIE MILSCHEWSKI �_ JOEL FRIEDERS
ROSE SPEARS LARRY KOT
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APPROVED by me, as Mayor of the United City of Yorkville, Kendall County, Illinois ,
this day of f�/t q l� , A. D . 2013 .
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Mayor j
Attest:
(DEPUTY City Cleric
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Ordinance No . 2013 - 3 !5
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