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Ordinance 2004-50 200406025252 ' f Filed for Record in KENDALL COUNTYr ILLINOIS PAUL ANDERSON 09-21-2004 At 12:09 Pm- ORDINANCE 41.00 ORDINANCE NO. 2004-SO AN ORDINANCE ESTABLISHING UNITED CITY OF YORKVILLE SPECIAL SERVICE AREA NUMBER 2004-103 NORTH GRANDE RESERVE BE IT ORDAINED BY THE CITY COUNCIL OF THE UNITED CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS,AS FOLLOWS: Section 1. Authorily. The United City of Yorkville (the "Ciff") is authorized, pursuant to Article VII, Section 7(6) of the Constitution of the State of Illinois, and pursuant to the provisions of the Illinois Special Service Area Tax Law, 35 ILCS 200/27-5 et seq. (the "Act"), to establish special service areas for the provision of special governmental services in portions of the City and to levy or impose a special tax and to issue bonds for the provision of such special services. Section 2. Findings. (a) The question of establishment of the area hereinafter described as a special service area (the "Special Service Area") was considered by the City Council of the City pursuant to "An Ordinance Proposing the Establishment of Special Service Area Number 2004-103 North Grande Reserve in the United City of Yorkville and Providing for Other Procedures in Connection Therewith," being Ordinance No. 2004-12, adopted on February 24, 2004. The establishment of the Area was considered at a public hearing commenced on March 23, 2004, and finally adjourned on March 23, 2004 (the "Public Hearing"). The Public Hearing was held pursuant to notice duly published in The Beacon News, a newspaper of general circulation within the City, on March 8, 2004, which was at least fifteen (15) days prior to the Public Hearing, and also pursuant to notice by mail addressed to the person or persons in whose name the general taxes for the last preceding year were paid on each lot, block, tract or parcel of land lying within the Area. Said notice by mail was given by depositing said notice in the United States mail not less than ten (10) days prior to the date set for the Public Hearing. In the event taxes for the last preceding year were not paid, said notice was sent to the person last listed on the tax rolls prior to that year as the owner of said property. A certificate of publication of notice and evidence of mailing of notice are attached to this Ordinance as Exhibit A and Exhibit B, respectively. Said notices conform in all respects to the requirements of the Act. To comply with City requirements an additional notice of public hearing was published in the Kendall County Record, a newspaper of general circulation within the City, on March 11, 2004. A Certificate of Publication of such notice is on file with the City. (b) At the Public Hearing, all interested persons were given an opportunity to be heard on the question of the issuance of bonds to finance a part of the cost of engineering, soil testing and appurtenant work, mass grading and demolition, storm water management facilities, storm drainage systems and storm sewers, site clearing and tree removal, public water facilities, sanitary sewer facilities, erosion control measures, roads, streets, curbs, gutters, street lighting, traffic controls, sidewalks, equestrian paths and related street improvements, and equipment and materials necessary for the maintenance thereof, public parks, park improvements, bicycle paths, landscaping, wetland mitigation and tree installation, costs for land and easement acquisitions 011.552562.4 relating to any of the foregoing improvements, required tap-on and related fees for water or sanitary sewer services and other eligible costs (collectively, the "Improvements"), on the question of the conditions for participating in the Special Service Area as more particularly set forth herein, and on the question of the retirement of said bonds as due from time to time by a levy of a tax on real property within the Area. (c) After considering the data as presented to the City Council of the City and at the Public Hearing, the City Council of the City find that it is in the best interests of the City and of the residents and property owners of the United City of Yorkville Special Service Area Number 2004-103 North Grande Reserve that the Special Service Area, as hereinafter described, be established. (d) More than 60 days have passed since the final adjournment of the Public Hearing, and no petition objecting to the creation of the Special Service Area, the levy of the Special Tax as herein described or the issuance of bonds has been filed with the City Clerk. (e) The Special Service Area is compact and contiguous as required by the Act. (f) An annual special tax based upon a special tax roll levied against each residential lot and each parcel in the Special Service Area as herein described does not exceed the tax rate or method proposed in the notice of public hearing referred to herein and such special tax, taking into account the direct and indirect special service benefits to current and future owners of property within the Special Service Area, bears a rational relationship between the amount of tax levied against each lot, block, tract and parcel of land in the Special Service Area and the special service benefit conferred. (g) It is in the best interests of the City that the Special Service Area be created for the financing of the Improvements within the Special Service Area, that the Improvements be financed by the sale of bonds, and that taxes be levied on real property within the Special Service Area to retire the bonds and to cover costs and expenses connected with the financing of the Improvements within the Special Service Area. (h) It is in the best interests of the United City of Yorkville Special Service Area Number 2004-103 North Grande Reserve that the furnishing of the Improvements proposed be considered for the common interests of the Special Service Area and that the Special Service Area will benefit specially from the Improvements. Section 3. United City of Yorkville Special Service Area Number 2004-103 North Grande Reserve Established. A special service area to be known and designated as "United City of Yorkville Special Service Area Number 2004-103 North Grande Reserve" is hereby established and shall consist of the contiguous territory legally described in Exhibit C hereto, and outlined on the map of a portion of the City attached as Exhibit D hereto, which description and map are by this reference incorporated herein and made a part hereof. Section 4. Pumose of Area. United City of Yorkville Special Service Area Number 2004-103 North Grande Reserve is established to provide special services to the Special Service Area in addition to services provided in the City generally. United City of Yorkville Special 2 1.552562.4 Service Area Number 2004-103 North Grande Reserve is also created so that bonds may be issued for the purposes aforesaid (the"Bonds"), payable from taxes levied on real property in the Special Service Area in accordance with the special tax roll established by this Ordinance. Such taxes shall be levied in addition to all other City taxes so levied, provided no Bonds shall be issued in excess of the principal amount of $20,000,000 or at an interest rate to exceed the greater of nine percent(9%) per annum or 125% of the rate for the most recent date shown in the 20 G.O. Bonds Index of average municipal bond yields as published in the most recent edition of The Bond Buyer, published in New York,New York, at the time the contract is made for the sale of the Bonds and the Bonds shall mature within not more than thirty (30)years from their date. Section 5. Special Tax Roll for Bond Retirement. In lieu of an ad valorem tax to be levied and extended for the payment of principal of and interest on any Bonds issued on behalf of the Special Service Area, a special tax roll shall be established for levying and extending taxes for the payment of principal of and interest on any Bonds issued for the purposes set forth in Section 4 hereof and the administration and maintenance of the Special Service Area. The description of the special tax roll shall be as set forth in and approved by an amendment to this Ordinance. Section 6. Supercede Conflicting Ordinance. All ordinances or parts of ordinances in conflict with the provisions of this ordinance are repealed to the extent of such conflict. Section 7. Effective Date. This Ordinance shall be in full force and effect from and after its passage and approval in the manner provided by law. PASSED BY THE CITY COUNCIL OF THE UNITED CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS this September `'� 2004. VOTING AYE: VOTING NAY: ABSENT: ABSTAINED: NOT VOTING: 3 011.552562.4 APPROVED Mayor ATTEST: 1 Published in pamphlet form 12004. 4 11.552562.4 Exhibit A To Establishing Ordinance Publisher's Certificate 011.552562.4 Cerlifice�e of t'u�bliea#on in De",DIN STAB OF ILL NO'S FOX VALLEY PJJP =.QNS DOES lj r BY R FY: .;, ' ' That it ls;a"co orRtion duly organi cd in: eziatin under'th awf,bf the tc of Illinois; That it is.the ublisher of The Beacon News,-a se tar daily cw#aper lished in the City ofAurora,'ln Kan `County,Illinois,and of general clr atlon In aid Oty,G ty and State; and In DuPage,.'Kanda , DeKalb Counties, and"ln.other . tics iri a Ounty; d that it is a • newspaper as defined i "An Act to'RevIae the Uvir`1n Re( ioit'!o No ccs"r'Ill.R std Statutes, Chap. 100, Sections 1, and 10. r' l That a notice off'which the annexed is a true co Chas been y p ed a .;.. PY.. 1�a ' r u s m s' i newspaper. . . ... .. . ..,. ....f... ... time,.... ....f . ach...... ......far ....;.. ... . . . ... .... ... . . . .. ..,..,... .successive..... ..... . .. ... ... .; that the • first publication of said notice Was on the . :F�= :�.L;.:lda of..,.l :.! O fi��.. .,ZO and the.last publication:thereof was on'the.:: :':::`day''"°f :'.. ..�that the face of type is whtich.tech publlcattJon o>sald,notIce As printed as I;;; m� the body of type used In the.olb;s ed ad iartisingl_in the npy piper_in.which,.sal puoatio wps made; That said The Beacon News his Wh reguli ly pitb he In aai City Coup and State for aticast one year'pilot to the rkst publlcat oA'6f saIa.riodce. In WrMESS WIJERBOF, Bald'Fox W11ey; PubllcB Ions, publ hqr. afo ,aid, has executed thi CcrttElcete of Pu611catton l y lta 0 ce '°or Agent thereun du1�au rind this ... .. .: . . . . .day of.I . l�N.;4�iV 1:'..:..;20.:Q.i.`.. ' FOX V 'Y PUB CANONS w ;Ey r..�V:lJ . •1 I •G Printer's Fee S J . ..4.: Paid. ... :I ....1.....'..•...J.'.......,20 •. �4 ' No. Folio ! .. '• .. �.,'.f t � ..- .. .. .. all � .Nr"eU•-:.IVUfL1U -,LS/IjM•.IVJ.;IVUtlfl,;. f,t1f1UC:KC�tlY:}VC 1� IIIpU •.I:KIIVI.II'•M4'1V\CKILIINIV,',�:i�Jlyl'GIDC€J.H.1,.�VL�}JVVa y:r-:;';:yr- CCJ NV-IV111VV 1KJ�;U.J IVIVUJ.'VVCJ 1' Lb//.q t••CCI z' 11NITEq GITY OF;YORKVILL ? h l y with, e C CI r":ofjthe"C of Y rkvi le€ " 0 >` G NNIN T T t= E wth,tt-, ,..Hy e..k I#Y ,;. ,P.,._, I �NItIIIn b, days.,Dr; I_, G;A. HE'SQ,UTHWE$T.'CORNEi3;,:OF SEC4"ALONG:SAID CENTi=RL'INE>TO.:THE CENTERLINE OF A yfe». 4REGIAL.SERVICE`lkREA;NUNIBER.20 4?:103 follgwing.,the,:fl al;,:..adlournment:of•the> 'blic;;htiarin" `TION;T1 =THENCE S0l'1TH^oi.DE REES'SZ°7U1 UTE `':0 NORTH' AND'::S UTHs`HIGHWAY,;'-:' Q _.: , n ;. Pu ..,.,. Q.: . G.. _ .� IN S.. 0 THENCE SOUTH 7 NORTH:GRANgEgESERVE ,i.,;til?Y,.t, o4{ectin@ lo.#hedcrgallop;,ofahespecipl,serylce.,areq,#ie;,.SECONDSWEST'A42;:FEE7yTOxTHENDRT LINE'OF"=DEGREES•T.7v11NUTES:O.SECONDS EAST 364:B,FEET vNOTIGEI :;HEREBY,C,IVEN`fhahon'.' d. ;: 3'. 04.at1ss ce:of.,bon "''H .1. . •.. $,. ,. I,. .. ;, ,..EM )' h., .,,.20. 4an...;,,: ..s;tOC;thb,.proylslon ofispec(al.^Servlces;to;'THE* OF�wAY'oF'THE+CH,CACTQ,iBURwNGTON :ALONG'THE,,-CENTER OF SAID:.NORTH-AND SOUTH in7 00 p:mia•at.ihetYorkyIIIe,.City€Hall,:; 00 Game,Fgrm'' the.area Vibe tax.s;affecfing`.the'area`,no'such ND;':'QUINCY'':RAiI ROAD',?TI ENC ORTH'-75:.•:HIGHWAY:T ENCE'NORTH":8 c .K 9 A H E N. H 9,DEGREES 47 MINUTES Road;:1!orkville;Illinois,o,hearlpa wiI tiv.-held:by3fie; Ity 'orea mayJ a created and"na such;bonDs mayrb. Issued;_DEGREES,17.:.MINUTES O.SECONDS'�EAST•1728.FEET%.0,SEC'NDS':WEST,503.33 FE , �:TO'T WEST INE OF ;4.. ,..; ,,,. .,:. c` r;:. .€- .� .. ?,. +„ - i.. ',;.l; , -Q PeT.. HE L Qf Yorkville,to_conslder.forfnipg:,4 ,eclpl servide area qr„taxesaeyled :Impose . : :__ ALONG'/SAID .I r F-; AY.LINE TQ-THE .S UTH -SA TI 1:T' w Sp. !: Qrti,- s <: .. 1 R.�HT Q..,W. . .,. 0.. ID,SEC. ON,1., HENCE.$OUTH 0 DEGREES 52 MIN - Y City bf':Ygrkvllle,•SPeclal>$ervlce Areal; Legal Reserlptionof,Properh�' r: LINE.QF::$ECTJON,iT'.:T ENGE'SOUTH.89..pEGREES553 UTES?:o.:SECON S. Td:ALONG" AID:WEST dl.. 20 a. ti M D ,WES :. S T LINE Nomber, ,04103..N r((rGrondeReserue, ;egnsi5ting,ot..'.. ,. ;,:GRANQ ':RESERVENORT<''REGION��< _ -,,. MINUTES•OSE ONpS.EA5T,1001'25=FEET'A`ON 'THE, 1327. .FEET�TOT.HE'POIN BEGINNING 4 • .. r �:: tit. ;H, ,.:,..y„ L... G 6 . T,.OF_. (EXCEPT �Ahe?territgry.aegdllyrdescribed In;Exhlblt til',to:his Noftee., 1'M T:BART OF. E:SO THE'A$T QUARTER.OF:SEG: Q TH.LI E,-QF.,SAiD.SEGTI N:11:TO+THE`SOU f ' THAT"P T': . A S .,. H Q ., ,. ,. ,$. ,t1 , N_.:; _......, O. Hv AR ..OF..RIGHT OF,WAY.OF THE CHICAGO, s°7he;approximate':,;treat-.lacgtlon,-ls.ahq.;are¢:generally,:. TJON�.iT,:TOWNSHIP 37:NN.ORTH,::RANGE;7=FASTi:QF ST'CORNER:OF THErWEST-HA"-F OF SAI SECTION' BURL NGTO.N::: .D:": UI CY: e`•" , y. t:; 4:;1 Eft L D _. Ti (,. AN Q .N RAILROAD RUNNING ;Depleted'on the map,:ofa'por(IOn of the Clty.whI h.Trlpp.,THE..THIRD:.:'.PRINCIPAL,,MERIDI I DESCR18Ep'.�A:.�11,.:[HENCE`.NQRTH 89 REC�REES'S4-MINUTES O SEC ::T RO GH bE TON::.11:: RESAID A O u�.Is';attachedas:..Exhlblt'2tgahls'Notice,.: S,.a;r: ._ 'FO OWS �'� "N U G. I AFO AND ALSO _.. , Is .. € 4L '? * ? A.N .S..F;AST 1339.5.FEET ALONG-THE_SOUTH•LINE'.OF.'EXCEPT THAT::PART:LYING?WESTERLY.'OF THE yThe.;general:;.purpose of;;the::ferrrlatlon;;gf ihe':City_of BEGINNING AT:cTHF NCiRTHEASTaCORNER°.'OF,!'$AID. •,SAI�t ECTON 1:1 7 :THE1S UTH "ST.:"-CORNER,OFt`CENT R N . - S. ( A O Ef± E LI E..-.OF:KENNEDY-:,,ROAD, AND.s'ALSO i_-Yorkvl(Ie,Speclpl>�Service:;Area,:Nilmbe'2p09�1p3.(North`:SOUTHEAST,gUARTER•',:THENCE W�STERL Y;ALONG'; THE IM1IEST.HALF. OF<THE:50 THEASTTQUARTER•: F:`E. T TH.'Tr .. .., . .. . . . 0 XCEP „ A ,.PART-LYING,SOUTHERLY':OF THE zGrande;Reserve'Is tq provide.special'ymunicipal:isergices:.THE,:NQRTN,:LINE.OF ,4AIQ.;SOU,THEAST;:QUAIjTER SAID'SECTION -,1'I THENCE NORTW'-DEGREEVI 40 CHICAGO`,BURLINGTON ',AND UINCY"RAILROAD Q ,to.the area':which-may'incl'ude:,engineering soll'`testing, :2029.9.2:FEET;TO:THE':EAST LINE'QF LOT3'`OF�SAIC; IyUNUTE5,'0.$ECONpS EAST 977.5.FEET'TO:THE=GEN+:'RUNNING:THROUGH SECTION.11:AFORESAID 1N.THE o,'pnd::.appurtenant;work,:.mass;gradind':"and demolition;.>SECTION 1.1,;THENCE;SOUTHERLY°ALONG"SAID EAST; 'TERC1NE ,OF,,;:THE;:FI6HWAY,: THENCEc,NORTH 74:,T OWNSHIP..:OF-BRISTOL.KENDA L COUNTY' I�ILLINOIS. L COUNTY, =a'storm,water,management;faclli#Ies,storrh dealnagB'sys.. '4INE:,;1469,90.-,FEET"TO:�THE;�CENTERLINE' OF"N11LL�.DEGREES�1'S`MINUTES O;.`SFCONDS: Exhibit B To Establishing Ordinance Evidence of Mailing 11.552562.4 I • • OM'DELIV ERY • ■ Complete i#ems 1,2,and 3 Also complete ftgm 4 rf Restricted Deltvery,is desired -X Agern ■ Print your name and address.on the reverse Addressee so that we can return the card toyoU. B. R rued y Prirrfed Marne) C. of I� wary ■ Attach this card to the back of the mailpiece, t3 Q or on the front if space permits D. Is delivery address different from item 11 U Yes, . x 1 Article Addressed to If YES,ender dernrery address below: ❑No f Isenstein&Pasgwnelli g 6880 N Frontage Road,Suite i00 Bbii Ridge, JL 60527 sType fied Mail 0 Express Mail stered 0 Return Receipt for Merchandise r .. ed Mail ❑C:O.D. : Delivery?(Extra Fee) p Yes ::, .•.,.. .,., r., � 2 Amide Numt�er :f --- (Transfer frorn sernce labeQ.> .7002 2 030 0002 519 5 0880 P8 Form 38.11,August 2001 '. 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D'Is damy address tiifferertt from ftem 17 ❑Yes'. i ;1 Article Addressed to If YES enter delnrery address below L7 No. ti . x P l • 5. �T IyT s � Art-hur C we e, .... � Preside t Arid GEQ tl a ri rri MoSer Entetphses, 5m Avenue'Stat ion '" 300 East Sthvenue,Surte X30 k 3 ;Service Type : w Naperville,IL 605t,3' }�Certified MaA ; ❑Express Mar A s+ a' 0 Registered ❑J3etum Recapt for Merchandise -�Insured Mall r;❑G O`D i's t ,,' ,, � Restricted DelNery?(Extra Fee) '",r�; ❑`Yes;r '�`. 2 Articte.Num&er 7002 2030. 0002 5195 0941 .;.,mransferfrom service iabeQ , -:.•I. -.. _ r,. . x k. PS Form 3811,August 2001 Domestic Return Receipt a to2ssso2:!n171 ao r 1= •� Ir Ir 0L � � ' Ln Postage $ ru ED Certified Fee �{ O PpstrP' p: Return Reciept Fee Q (Endorsement Required) O Restricted Delivery Fee ¢' M (Endorsement Required) E3 t� ru Total Postage&AM I&C.Zwemke �W gragvTU� ';. 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OFFICIAL - Ln Postage $ `NO- ru Certified Fee a, ; M Retum Reclept Fee .- O (Endorsement Required) - p Restricted Defivery Fee fpm M (Endorsement Required) 5 C3 usQ M Total Postage&Fees o sent To Valerie J.and Carroll D.Edelmon N p x43-� y-Rued-Eftst¢I 9+10r}----s4reeZ tio; 2r ----- -Poeoxft: Yorkville IL 60560 - ----- --'- --- - --- -=-----------------=—- state,zrwa . � 6 C3 e• of 117 FFCA L U , Postage $ fL Certified Fee M ` Po ark M Return Reciept Fee Her Q (Endorsement Required) _ Q•� E3 Restricted Delivery Fee Z �► M (Endorsement Required) C3 ru Total Postage&Fees ru c3 sent To David' tc a son N 'svee[api fdo:; 'I-}32 y 8riAed Read Easy{2"d lido©r}-- or PO Box No.. Yorkville,IL 60560: --------------------------------- City.State,Z1P+4 - z. •MPLETE:THIS SECTION 7 COMPLETE r DIV DELIVERY 0 Complete items 1 2 and 3 Also complete A Sigrra ` i rtern 4 rf fiestricted Delivery is desired xis ,,' ■ Print'`our name and address on the reverse X `lam -'�!!�- ❑Addressee i so that we car.retum the card to you g R y Name). C of p Attach this card to"the Back of the maitpiece, ' `f. or pn the front if space petmrts :c D. Is delivery address different from item 1? ❑Yes E 1. Arbcie Addressed to i , If YES,enter delivery address below ❑No J Suburban-Bank&Trust— t 7 321b c/o Isenstein I'asquine�lf b880I`i frontage Road,Sutte;100 3ce Type =Burr Rtdge,IL 60527 ° ertified Marl :D Egress Mari I _ egistered.. 0 Rehm Receipt for Merchandise. ! ❑Insured Mail:: ❑C.O.D.'. 4. Restricted Delivery?(Extra Fee) ❑Yes.: 2 Article Number 7002 2030 0002 5195. 0927 i ppansfer from service label) i PS Fomi 3$1 I,August 2001 ; ;i C)omesUc Returtj r;1o2595 02 M lsao. f. • • _ ru l' 11 P r=l t� Lr) Postage E3Certified Fee G()909 Return Reciept Fee P arr s� (Endorsement Required) Her 0� �� ❑ Restricted Delivery Fee LLJ 6 , M (Endorsement Required) Q fU Total Postage&Fees p Sent To C3 Tr 74-3216 ^ as apr.No.; do Isenstein P uinelli LLC or P„Box No. Q City,Stafe,zi�+d----6890-N.-Prrontage-R'Oad;write-IUU------------ Burr Ride IL 6052 . ON DELIVERY TE Complete items 1,2,and 3;Also complete A signs're = f/ ❑Agent item 4 if Restricted Delivery is desired X C-' CJC Addressee: ■ Print your name and address on the reverse so that we can return the card to you., B. flaperved by(Pfinl(Print Name) _ C Date l Delivery` 4 ■ Attach this card to.the.back of the mallplece, or on the front if space permits.. D. Is delivery address different from kern 1?..;O es 1. Article Addressed to: If`YES,enter delivery address below L7'No ................... MPI-2 YORKVILLE NORTH LLC , :I 6880 NORTH FRONTAGE ROAD SUITE 100 s. Service Type ®Certified Mail 0 Express Mall ' BURR RIDGE, IL 60527 ❑Registered ❑Return Reeelpt for Merchandlsa 0 Insured Mail. 4. Restricted Delivery?(Fxfra Fee) ;= I.Yes 2. Article Number 7002 2030 0002 5195 1085 (Transfer from service 5 - , { 1 t ti i ::r d ? 102595-02-M 1540 PS Form 3811',August 2001` ` '" Domestic Return Receipt E, ill s Er V-) Postage ` rU Certified Fee O _ Postmark,i M Retum Pal Fee Here 1 f z M FsdorsementRequired) ( Q Restricted Delivery Fee M (Endorsement Required) O N Total Postage&Fees CO Sent Tc ;. ----------------- N91-2 Yorkville North'LL or ao Box No. 6880 North Frontage Road,Suite:: city,sure;ziP —Burr Ridge,IL 60529 eF �4 �i �x NOTICE OF HEARING UNITED CITY OF YORKVILLE SPECIAL SERVICE AREA NUMBER 2004-103 NORTH GRANDE RESERVE NOTICE IS HEREBY GIVEN that on March 23, 2004 at 7:00 p.m. at the Yorkville City Hall, 800 Game Farm Road, Yorkville, Illinois, a hearing will be held by the City of Yorkville to consider forming a special service area, to be called "City of Yorkville Special Service Area Number 2004-103 North Grande Reserve," consisting of the territory legally described in Exhibit 1 to this Notice. The approximate street location is the area generally depicted on the map,of a portion of the City, which map is attached as Exhibit 2 to this Notice. The general purpose of the formation of the City of Yorkville Special Service Area Number 2004-103 North Grande Reserve is to provide special municipal services to the area which may include: engineering, soil testing and appurtenant work, mass grading and demolition, storm water management facilities, storm drainage systems and storm sewers, site clearing and tree removal, public water facilities, sanitary sewer facilities, erosion control street lighting, traffic controls, sidewalks, equestrian measures, roads, streets, curbs, gutters, paths and related street improvements, and equipment and materials necessary for the maintenance thereof, public parks, park improvements and bicycle paths, landscaping, wetland mitigation and tree installation, costs for land and easement acquisitions relating to any of the foregoing improvements, required tap-on and related fees for water or sanitary sewer services and other eligible costs. There will also be considered at the hearing the following alternative methods of financing improvements within the proposed special service area: (i) the levy of a tax by the City in the proposed special service area, sufficient to produce revenues to provide special municipal services to the proposed special service area; the maximum rate of such taxes to be extended in any year within the proposed special service area which shall not exceed the amount necessary to produce a maximum annual tax levy of $2,300,000 in accordance with the special tax roll referred to below, and (ii) the issuance of special tax bonds in an aggregate principal amount not to exceed $20,000,000 at an interest rate of not to exceed the greater of nine percent (9%) per annum or 125% of the rate for the most recent date shown in the 20 G.O. Bonds Index of average municipal bond yields as published in the most recent edition of The Bond Buyer, published in New York,New York, at the l of theiri issuance.eThe bonds, f of issued shall be to mature within thirty (30) years from th e date retired by the levy of an annual tax established pursuant to a special tax roll to pay the interest on such bonds as it falls due and to discharge the principal thereof at maturity and to pay the costs of administration and maintenance of the special service area, said tax to be levied upon all taxable property within the proposed special service area. Exhibit 1 to Notice GRANDE RESERVE NORTH REGION THAT PART OF THE SOUTHEAST SECTION 11, MERIDIAN 37 NORTH, RANGE 7 EAST OF THE DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHEAST STERLY ALONG THE SOUTHEAST NORTH LINE O QUARTER; THENCE SAID SOUTHEAST QUARTER 2029.92 FEET TO THE EAST LINE OF LOT 5 OF SAID SECTION 11; THENCE O SOUTHERLY MILL ROADLTOHENCEIDSOUTHEASTERLY90 FEET TO THE CENTERLINE ALONG SAID CENTERLINE 1039.40 FEET TO A TRACT OF LAND CONVEYED TO COMMONWEALTH EDISON COMPANY BY TRUSTEE'S DEED RECORDED JUNE 28, 1973 AS DOCUMENT 73-3089; THENCE NORTHEASTERLY ALONG SAID NORTHERLY LINE 1062.36 FEET TO THE EAST LINE OF SAID SOUTHEAST THENCE BEGINNING O EN BRISTOL G SAID EAST LINE 1489.22 FE TO THE PO TOWNSHIP, KENDALL COUNTY, ILLINOIS. ALSO: THAT PART OF THE SOUTHEAST QUARTER OF SECTION 2, PART OF THE NORTHEAST QUARTER OF TOWNSHIP 37 NORTHTRANGE NORTHWEST QUARTER OF SECTION EAST OF THE THIRD PRINCIPAL MERIDIAN, DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHEAST CORNER OF SAID SECTION 2; THENCE THE NORTH SOUTH 89 DEGREES 28 MINUTES 21 SECONDS EAST ALONG LINE OF SAID SECTION 12, 99.96 FEET; THENCE SOUTH 2 DEGREES 26 MINUTES 28 SECONDS EAST 2654.27 FEET TO A POINT ON THE SOUTH LINE OF THE NORTHWEST QUARTER OF SAID SECTION 12, 236.28 FEET EAST OF THE SOUTHWEST CORNER OF SAID NORTHWEST QUARTER; THENCE NORTH 89 DEGREES SECONDS WEST CORNER OF SAID SAID SOUTH LINE 236.28 FE ET TO THE NORTHWEST QUARTER; THENCE NORTH 89 DEGREES 31 MINUTES 16 SECONDS WEST ALONG SOUTH 2028 27 OF THE TO THE EXTENSION QUARTER OF SAID SECTI ON 11 SOUTHERLY OF THE EASTERLY IN SAID ESOECT SECTION THENCE NORTH 1 HIGHLANDS, A SUBDIVISION DEGREE 06 MINUTES 53 SECONDS EAST ALONG SAID EXTENDED LINE 1030.0 FEET; THENCE SOUTH NORTH 1 DEGREE 06 MINUTES 53 SECONDS CONDS EAST 239.40 FEET; THENCE N THENCE EAST 872-93 FEET TOOg PAINETES201SECONDS NEP.ST ALONG A!D NORTH 66 DECREES CENTERLINE 898.31 FEET; THENCE NORTHEASTERLY ALONG SAID 1 CENTERLINE, BEING ALONG A CURVE TO THELEFT HAVING 5 3D DIU OS 2290.82 FEET, A DISTANCE OF 495.34 FEET; THENCE 46 MINUTES EAST ALONG SAID CENTERLINE FEET 30 M TH EEAST LINE OF SAID SECTION 2; THENCE SOUTH 0 DEGREES SECONDS WEST ALONG SAID EAST LINE 262.54 FEE L COUNTY,HE POLLIN F BEGINNING, IN THE TOWNSHIP OF BRISTOL, ALSO: THAT PART OF THE SOUTH HALF OF SECTION NORTH, RANGE 7 EAST OF THE THIRD PRINCIPAL ME RIDIAN, DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHWEST CORNER OF EST 4042 FEET THENCE THE SOUTH 0 DEGREES 57 MINUTES 0 SECONDS NORTH LINE OF THE RIGHT OF WAY OF THE HICAGO,, B7 M INGTOS 0 AND QUINCY RAILROAD; THENCE NORTH 5 DEGREES SECONDS EAST 1728 FEET ALONG SAID RIGHT 9 OF 53 MINUTES 0 SOUTH LINE OF SECTION 11; THENCE SOU SECONDS EAST 1001.25 FEET ALONG THE SOUTH HALF OFOSA DIDSECTION SECTION 11 TO THE SOUTHEAST DOGREES 54 MIiNUT'ES 0 SECONDS EAST 1339.5 11; THENCE NORTH 89 FEET ALONG THE SOUTH LINE OF SAID SECTION 1 QUARTER T OF SAID S CORNER OF THE WEST HALF OF THE SOUTHEAST SECTION 11; THENCE NORTH 0 DEGREES 40 MIND THENCE NORTH 74T 977.5 FEET TO THE CENTERLINE OF THE HIGHWAY; DEGREES 15 MINUTES 0 SECONDS WEST REES 10 MINUTE ONSECOINDS CENTERLINE; THENCE NORTH 79 DE WEST 2877.4 FEET ALONG SAID CENTERLINE TH 7 CENTERLINE OF A MINUTES 0 NORTH AND SOUTH HIGHWAY; THENCE SOU SECONDS EAST 364.8 FEET ALONG THE CENTER 407 MIND ENORTH 0 SECONDS SOUTH HIGHWAY; THENCE NORTH 89 DEGREES ENCE WEST 503.33 FEET TO THE WEST LINE OF WEST T ONG SAHD WEST SOUTH 0 DEGREES 52 MINUTES 0 SECOND LINE 1327.6 FEET TO THE POINT OF BEGINNING AND RAART OF RIGHT OF WAY OF THE CHICAGO, BURLINGTON ND QUIN THAT RUNNING THROUGH SECTION 11 AFORESAID, AND DKE ALSO ROAD AND PART LYING WESTERLY OF THE CENTERLINE O ALSO EXCEPT THAT PART LYING SOUTHERLY THROUGH SECTION CHICAGO, 1 BURLINGTON AND QUINCY RAILROAD RUNNING AFORESAID), IN THE TOWNSHIP OF BRISTOL, KENDALL COUNTY, ILLINOIS. 2 txhibit 2 to Notice North Parcel SSA W PRIM .®'' .:. r.rya ^`r '�'„ 'ta' <v �ty¢s '�' a'9'►+ ^ �� 'S.£„F„fc ._s. a9Y!e-• ^r 1. v a s l r,a.. tyµ ME �-- `�3 ,^, .,� fiw_,, s . �-r-K r_qJ '� .•-"" 4 r r•• " .''ti`r\'',� �.. ; '�•- ,V, 'fir a -i.a�s�� ` a:w,}�' •:>i.,ARE-y+er,�rv�f'-ice.-"#y".' 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L r .r</ 7 r.-..^ ��b �� `\:% t ) ,✓1 nti�.�� �x�y�..Lr syyR�j.�.c t f rat j �,�y rr"'rri u _ s" 5�'✓ L\. 5 'H�4 �E�}.. y'�, t "Yu j ' V.. 4. � d V .�� � � lY j,) 1 •J {t� tt! -�^�Vi�Ti-! .y'I sd S I aL ta T at c to K } S +t _ t k �/ y •4y"t 3 "� ".L?-�� - t .t 6 ',�"s s5i.t 4C'CC�"�� z '-�.- .a � a /� }7 S=�� y X -'s i :'1'f";Sla « =`4'.r:� s?�ar•.r.����� rh '...__ r.. ..._.�...-.�....,..,.•..�_,<_.i{.� ...2..,. ... :"_..%�...i.- ._.,''$....._.,...,?�s�,_�_..�....,��:..>r..�u��a_,.�.s.LSr,a: r.,c'y Exhibit C To Establishing Ordinance Legal Description 111.552562.4 i GRANDE RESERVE NORTH REGION THAT PART OF THE SOUTHEAST QUARTER OF SECTION 11, TOWNSHIP 37 NORTH, RANGE 7 EAST OF THE THIRD PRINCIPAL MERIDIAN DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHEAST CORNER OF SAID SOUTHEAST QUARTER; THENCE WESTERLY ALONG THE NORTH LINE OF SAID SOUTHEAST QUARTER 2029.92 FEET TO THE EAST LINE OF LOT 5 OF SAID SECTION 11; THENCE SOUTHERLY ALONG SAID EAST LINE 1469.90 FEET TO THE CENTERLINE OF MILL ROAD; THENCE SOUTHEASTERLY ALONG SAID CENTERLINE 1039.40 FEET TO A TRACT OF LAND CONVEYED TO COMMONWEALTH EDISON COMPANY BY TRUSTEE'S DEED RECORDED JUNE 28, 1973 AS DOCUMENT 73-3089; THENCE NORTHEASTERLY ALONG SAID NORTHERLY LINE 1062.36 FEET TO THE EAST LINE OF SAID SOUTHEAST QUARTER; THENCE NORTHERLY ALONG SAID EAST LINE 1489.22 FEET TO THE POINT OF BEGINNING IN BRISTOL TOWNSHIP, KENDALL COUNTY, ILLINOIS. ALSO: THAT PART OF THE SOUTHEAST QUARTER OF SECTION 2, PART OF THE NORTHEAST QUARTER OF SECTION 11 AND PART OF THE NORTHWEST QUARTER OF SECTION 12, TOWNSHIP 37 NORTH, RANGE 7 EAST OF THE THIRD PRINCIPAL MERIDIAN, DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHEAST CORNER OF SAID SECTION 2; THENCE SOUTH 89 DEGREES 28 MINUTES 21 SECONDS EAST ALONG THE NORTH LINE OF SAID SECTION 12, 99.96 FEET; THENCE SOUTH 2 DEGREES 26 MINUTES 28 SECONDS EAST 2654.27 FEET TO A POINT ON THE SOUTH LINE OF THE NORTHWEST QUARTER OF SAID SECTION 12, 236.28 FEET EAST OF THE SOUTHWEST CORNER OF SAID NORTHWEST QUARTER; THENCE NORTH 89 DEGREES 28 MINUTES 58 SECONDS WEST ALONG SAID SOUTH LINE 236.28 FEET TO THE SOUTHWEST CORNER OF SAID NORTHWEST QUARTER; THENCE NORTH 89 DEGREES 31 MINUTES 16 SECONDS WEST ALONG THE SOUTH LINE OF THE NORTHEAST QUARTER OF SAID SECTION 11, 2028.27 FEET TO THE EXTENSION SOUTHERLY OF THE EASTERLY LINE OF LOT 1 OF STORYBOOK HIGHLANDS, A SUBDIVISION IN SAID SECTION 11; THENCE NORTH 1 DEGREE 06 MINUTES 53 SECONDS EAST ALONG SAID EXTENDED LINE 1030.0 FEET; THENCE SOUTH 89 DEGREES 06 MINUTES 37 SECONDS EAST 239.40 FEET; THENCE NORTH 1 DEGREE 06 MINUTES 53 SECONDS EAST 872.93 FEET TO THE CENTERLINE OF CANNONBALL TRAIL; THENCE NORTH 66 DEGREES 09 MINUTES 20 SECONDS EAST ALONG SAID CENTERLINE 898.31 FEET; THENCE NORTHEASTERLY ALONG SAID 1 CENTERLINE, BEING ALONG A CURVE TO THE LEFT HAVING A RADIUS OF 2290.82 FEET, A DISTANCE OF 495.34 ; THENCE 654.29 FEET TO THE EAST DEGREES 46 MINUTES EAST ALONG SAID CENTERLINE LINE OF SAID SECTION 2; THENCE SOUTH 0 DEGREES 30 MINUTES 10 SECONDS WEST ALONG SAID EAST STOL?KENDALL POINT OF LAOIS. BEGINNING, IN THE TOWNSHIP OF R ALSO: THAT PART OF THE SOUTH HALF MERIDIAN, DESCRIBED NORTH, RANGE 7 EAST OF THE THIRD PRINCIPAL AS FOLLOWS: BEGINNING AT THE SOUTHWEST CORNER 4042 FEET TO THE SOUTH 0 DEGREES 57 MINUTES O SECONDS WEST NORTH LINE OF THE RIGHT OF WAY OF THE CHICAGO, BURLINGTON AND QUINCY RAILROAD; THENCE NORTH 75 RIGHT OR WAY LINE TO THE SECONDS EAST 1728 FEET A LONG SOUTH LINE OF SECTION 11; THENCE SOUTH 89 DEGREES 53 MINUTES 0 SECONDS EAST 1001.25 FEET ALONG THE SOUTH LINE OF SAID SECTION 11 TO THE SOUTHEAST CORNER OF THE WEST HALF OF SAID SECTION 11; THENCE NORTH 89 DEGREES 54 MINUTES 0 SECONDS EAST 1339.5 FEET ALONG THE SOUTH LINE OF SAID SECTION 11 TO THE SOUTHEAST CORNER OF THE WEST HALF OF THE SOUTHEAST QUARTER OF SAID SECTION 11; THENCE NORTH 0 DEGREES 40 MINUTES 0 SECONDS EAST 977.5 FEET TO THE CENTERLINE OF THE HIGHWAY; THENCE NORTH 74 DEGREES 15 MINUTES 0 SECONDS WEST 727.2 FEET ALONG SAID CENTERLINE; THENCE NORTH 79 DEGREES 10 MINUTES 0 SECONDS WEST 2877.4 FEET ALONG SAID CENTERLINE TO THE CENTERLINE OF A NORTH AND SOUTH HIGHWAY; THENCE SOUTH 7 DEGREES 7 MINUTES 0 SECONDS EAST 364.8 FEET ALONG THE CENTER OF SAID NORTH AND SOUTH HIGHWAY; THENCE NORTH 89 DEGREES 47 MINUTES 0 SECONDS WEST 503.33 FEET TO THE WEST LINE OF SAID SECTION 11; THENCE SOUTH 0 DEGREES 52 MINUTES 0 SECONDS WEST ALONG SAID WEST LINE 1327.6 FEET TO THE POINT OF BEGINNING (EXCEPT THAT PART OF RIGHT OF WAY OF THE CHICAGO, BURLINGTON AND QUINCY RAILROAD RUNNING THROUGH SECTION 11 AFORESAID, AND ALSO EXCEPT THAT PART LYING WESTERLY OF THE CENTERLINE Y OF THE CHICAGO, AND ALSO EXCEPT THAT PART LYING SOUTHER BURLINGTON AND QUINCY RAILROAD B BRISTOL, KENDALL COUNTY, 11 AFORESAID), IN THE TOWNSHIP O ILLINOIS. 2 Exhibit D to Establishing Ordinance Map of Special Service Area Number 2004-103 North Grande Reserve 011.552562.4 � ` 2 VILLAGE LIMITS OF MONTGOMERY 4. R-22�8•(REG .d I 'E L6N 5r51'39'E 1 N.31;1'E t c 11 12 REGION MAP'• 6 C, SCALE. 1W FOR I :I �_ ' 00' RONALD E.8 MILDRED TUCEK" • ' P.I.N.03-11-278002 I e00 300 500 3 � 2X E N02121D01GRANDE RESERVE, YORKVILLE, ILLINOIS ! f I O U : O N enrle w LL. u m2a2Y 11 11 U) y N I S I I ' o -s e5zesy it 72.09• apP6 , 4 I P.1NH 1NDKO�i �^ Q�Q 735.2• OP�N7. 2� 'NORTH REGION" AI 1 { P V" N oosYoo't/ ; 2 `_ ( �(N INCLUDED) � I 272.97 500.311 REO a PAR N L THREE „ R O �0Rtp52. }. 371A3' PARCEL TWO 10.29 PREPARED FOR: a S 0721'01' PARCEL Two 'illy ay0i OMIAILTAMI$W- MPI—yawwuf ' X10173 "NORTH REGION" LAND SURVEYORS P.I.N.Ob10�00001 IQ.11 P3.N.02-11-700-ws CO V _ .,� 3��Ta E M 1672 g�,�N�tEt1[pPOONf OMR CREEK S OR7 W E Ne pN N X31 1 0117'00'E N NAPEIIN1F,1lIN0{s WON '100 NW 265-140 OMYN M YEi IAsI' `j ED P.I.N.02-11400406 IY 1 n N A71'S0•E M,pMN�' PIN 02.11.20-005 0121'20•r w t L OF CREEK 105AY 0,oM `� PARCEL 7W0 311.01' S a N E _ 13213Y S 0000'3'E 11 07CW'E 30 1112 S 011wn• �• 91d _ M�<'!`' N eta w �1� 1413 I 7 01&29 II EO P.I.N.02-14.100007 N 09550' -2 PIX.1 4 1-001 577. S sr/SSl'M B- ( I I 71 70 59 17 N 2 61 I s w 73 p 66µ $ � 7L s5 57 I .,CENTRAL REGION' g 77 79 76 56 55 CITY'S CONSENT AGREEMENT THIS CONSENT AGREEMENT is entered into as of the day of July, 2004 by United City of Yorkville, to and for the benefit of LaSalle Bank National Association, a national banking association, as Administrative Agent for itself and the "Banks" (as defined in that certain Construction Loan Agreement of even date herewith), its successors and assigns. RECITALS A. Concurrently herewith, Banks have agreed to make a revolving loan ("Revolving Loan") in the amount not to exceed the principal sum of$45,000,000.00 and issue standby letters of credit in the amount of up to $12,000,000.00 an issue a direct pay letter of credit in the amount of$12,310,331.00 in connection with the issuance of special service area bonds benefiting the Property to MPI-2 Yorkville Central LLC, an Illinois limited liability company ("Borrower") pursuant to the terms of the Amended and Restated Construction Loan Agreement of even date herewith(the"Loan Agreement"). B. The Loan Agreement is joined by MPI-2 Yorkville North LLC, an Illinois limited liability company and MPI-2 Yorkville South-I LLC, an Illinois limited liability company (the "Additional Property Owners"). C. Borrower and the Additional Property Owners(the"Developer")own fee simple title to a certain real estate and improvements (collectively, "Property") located in Yorkville, Kendall County, Illinois and legally described on Exhibit A attached hereto. Developer has entered into a certain Public Improvement Agreement with the United City of Yorkville (hereinafter referred to as the "City") in connection with the development of the Property(the"Public Improvement Agreement"). D. Developer has entered into a Collateral Assignment of Developer's Rights of even date herewith assigning to Banks all of the rights and privileges of Developer under the Public Improvement Agreement. E. The City will benefit if the Loan is made to Borrower. NOW,THEREFORE, in consideration of the foregoing and other good and valuable consideration,the receipt and sufficiency of which are hereby acknowledged,the City hereby agrees as follows: 1. The City hereby consents to the terms of the Assignment. 2. The City agrees that there will be no amendments to the Public Improvement Agreement without the express written consent of the Banks' except for non-material routine field order or engineering changes necessitated by field conditions. 3. The City agrees that in the event that the Banks exercises its rights under the Assignment and performs the Developer's rights thereunder,that the City will make available the funds which were to be made available to Developer upon compliance by Agent with the terms of the Public Improvement Agreement including "Bond Proceeds" (as that term is defined in the Public Improvement Agreement), Recovery and Recapture monies(as that term is defined in the Public Improvement Agreement. 4. The City agrees that any and all notices provided to the Developer under the Public Improvement Agreement shall be provided to Agent and Agent shall have the right but not the obligation to remedy or cure such breach for a period of thirty (30) days after receipt of written notice thereof, 264467.2 044599-33642 provided, however that if such breach can not reasonably remedy or cure within such thirty (30) day period, Agent shall have such additional reasonable period of time as Banks requires to effect a remedy or cure so long as Banks commences remedy within the aforesaid thirty (30) day period and diligently pursue such remedy or cure thereafter including any time reasonably required by Agent to take legal action to enable it or a receiver to perform Developer's obligations thereunder. 5. For purposes of this Agreement, all notices, demands or documents required or permitted to be given to either party shall been given a hand-delivered, or if mailed by United States certified mail, postage prepaid, return receipt requested, addressed to said party as follows: To Bank: LaSalle Bank National Association 8303 West Higgins Road 4th Floor Chicago,Illinois Attn: Michael McGrogan With a copy to: LaSalle Bank National Association 14d'Floor 135 South LaSalle Street Chicago,Illinois 60603 Attn: Commercial Real Estate Syndications and Schwartz,Cooper, Greenberger&Krauss 180 North LaSalle Street Suite 2700 Chicago,Illinois 60601 Attn: Scott M. Lapin, Esq. To City: United City of Yorkville 800 Game Farm Road Yorkville,Illinois 60560 Attn: City Clerk With a copy to: Daniel J.Kramer,Esq. 1107 S. Bridge St. Yorkville,Illinois 60560 UNITED CITY OF YORKVILLE By: Its: 264467.2 044599-33642 2