Resolution 1997-03 STATE OF ILLINOIS ) 4/21/97
) SS
COUNTY OF KENDALL )
RESOLUTION NO. MC-3
RESOLUTION CREATING CERTAIN FUNDS OF
THE UNITED CITY OF YORKVILLE
WHEREAS, numerous funds are necessary for The city of Yorkville to fund the City's
operation; and
WHEREAS, new development in the City of Yorkville and expansion of the City's sanitary
sewer system has necessitated the creation of new funds; and
WHEREAS, these new funds would allow for easier administration, accounting, and access
to the funds for the City use; and
WHEREAS, new fees and other funding for sewer expansion have created new revenues
which must be administered through the use of new funds.
NOW THEREFORE BE IT RESOLVED that THE UNITED CITY OF YORKVILLE
hereby authorizes the City Treasurer to create the following funds as set out below;
1. SANITARY SEWER IMPROVEMENT AND EXPANSION FUND
This fund will receive sanitary sewer connection fees as directed by the City Council,
proceeds from the IEPA Loan to complete SSES identified work, other revenues as directed
by the City Council for use in expanding and improving sanitary sewer transmission capacity,
Municipal Utility Tax as required to guarantee annual debt service for IEPA Loan, and any
carry-over starting balances.
This fund shall pay, debt service for IEPA Loan, any costs associated with the project
to complete improvements identified in SSES Study, release of connection fees to other
sanitary sewer funds used to increase transmission capacity after annual IEPA debt service
is satisfied, sanitary sewer projects with identified revenue other than that identified for the
IEPA Loan debt service, release of Municipal Utility Tax revenues as directed by the City
Council back to the General Fund or for use on other sanitary sewer projects on a dollar for
dollar basis as sewer connection fees are received by the City.
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2. SOUTH SANITARY SEWER FUND
This fund is to receive funds transferred from the Sanitary Sewer Connection fees
from the Sanitary Sewer service area as directed by the City Council released from the
Sanitary Sewer Improvement and Expansion Fund, South Sanitary Sewer recapture
fees, other revenues as directed by the City Council, and any carry-over starting
balances..
This fund will pay recapture back to developers as agreed by the City Council,
all costs pertaining to the completion of the South Sanitary Sewer .
3. WATER IMPROVEMENT AND EXPANSION FUND
This fund will receive all water connection fees as directed by the City Council, other
revenues as directed by the City Council, and carry over as a starting balance.
This fund will pay debt service on loans used to improve and expand capacity
of the water system as directed by the City Council, and any projects that improve and
expand capacity of the water system.
The Treasurer of the UNITED CITY OF YORKVILLE is authorized to take any action
necessary to create and/or transfer to the above funds.
That in all respects, all other funds of THE UNITED CITY OF YORKVILLE shall remain
as originally adopted and existing. All other procedures for use of the funds shall remain as the usual
and customary practices will dictate.
mac.
Approved this � /day of 1997
PP Y
Mayor
i TEST: Q
Clerk
Law Offices of Daniel J. Kramcr
1107A South Bridge St.
Yorkville, IL 60560
630.553.9500
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