Ordinance 2003-18 STATE OF ILLINOIS )
)ss
COUNTY OF KENDALL )
ORDINANCE NO. 2003-k%
AN ORDINANCE ABATING THE TAX HERETOFORE
LEVIED FOR THE YEAR 2002 TO PAY DEBT SERVICE ON$625,000
ALTERNATE REVENUE SOURCE SERIES 2002 BOND OF THE UNITED CITY OF
YORKVILLE,KENDALL COUNTY, ILLINOIS
WHEREAS, THE CITY COUNCIL of the United City of Yorkville, Kendall
County, Illinois (the"Issuer"), by ordinance adopted on the 12th day of March, 2002 (the
"Ordinance"), did provide for the issue of$ 625,000 Alternate Revenue Source Series
2002 (the "Bonds"), and the levy of a direct annual tax sufficient to pay principal and
interest on the Bonds; and
WHEREAS,United City of Yorkville will have Pledged Revenues as defined in
the Ordinance available for the purpose of paying the debt service due on the bonds
during the next succeeding bond year; and
WHEREAS, it is necessary and in the best interests of the United City of
Yorkville that the tax heretofore levied for the year 2002 to pay such debt service on the
Bonds be abated:
NOW. THEREFORE. Be It and It is Hereby Ordained by the City council of the
United City of Yorkville, Kpndall County, Illinois, as follows:
Section 1. Filing of Tax. The tax heretofore levied for the year 2002 in the
Ordinance is hereby abated in its entirety.
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Section 2. Filing of Ordinance. Forthwith upon the adoption of this
ordinance, the City Clerk of the United City of Yorkville shall file a certified copy hereof
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with the County Clerk of Kendall County, Illinois, and it shall be the duty of said County
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Clerk(s)to abate said tax levied for the year 2002 in accordance with the provisions
hereof.
Section 3. Effective Date. This ordinance shall be in full force and effect
forthwith upon it adoption.
Adopted_ �Aatt 4ci', '2003
MIKE ANDERSON �_ JOSEPH BESCO
VALERIE BURR PAUL JAMES
LARRY KOT t� MARTY MUNNS
ROSE SPEARS RICHARD STICKA
AP OVED b � "'V"'yo, of the United Ci�of Yorkville,Kendall County, Illinois
this—22V4 ay of \.` ,A.D. 20 �
MAYOR
PASSED b, the City Coun i1of t li nited City of Yorkville,Kendall County,
Illlinois this day of ,A.D. 2003,
Attest;
IT LERKA
PUBLIC FINANCE CONSULTANTS SINCE 1954
VEER EER FINANCIAL, INC.
KEVIN W.WCANNA DAVID F.PHILLIPS LARRY P.BURGER DANIEL-D.FORBES BARBARA L CHEVALIER
PRL"M-'-"T SR..VVT PRYS11)FINr OM PRFSUJe%F VICE PRLSIM-NT VICE PRESIDE??
February 3, 2003
Ms. Traci Pleckham
Finance Director
City of Yorkville
800 Game Farm Road
Yorkville, IL 60560
RE: DON'T FORGET ANNUAL ABATEMENT OF ALTERNATE BONDS!
$625,000 Series 2002, Last Maturity December 1, 2012
Dear Traci:
Here is a reminder about the annual abatement of the 2000 property tax levy (collected in 2001)
for your general obligation "alternate bonds." The enabling legislation intends that such debt be
paid from the pledged revenue or revenues, and that the property tax levy filed for your alternate
bonds never be extended.
Each county has its own deadline for acceptance for an abatement ordinance prior to closing its
tax books and sending out tax bills. In Cook County this tends to be later than for other counties
due to the use of an estimated first installment bill. For counties other than Cook, the deadline
could be as early as February or March. If you have not yet adopted and filed a 2000
abatement ordinance for your alternate bonds with your County Clerk, please contact that office
to determine their deadline, and file the abatement ordinance soon, in compliance with your
original bond ordinance and financial plan.
SUITE 4100.ONE NORTH LASALLE STREET•CHICAGO.ILLINOIS 60602•(312)346-310()•FAX(312)346-8833
SUITE 608•531 COMMERCIAL STREET•WATERLOO,IOWA 50701 •(319)291-2077•EAX 1319)291-8628
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Enclosed is a sample form of abatement ordinance for your convenience. There is no one
required format and your local attorney may have other forms. An abatement ordinance
resolution is needed for each alternate bond issued.
If you have questions, please call Speer Financial, your local attorney, or your bond counsel.
nce ly,
David F. Phillips
Senior Vice President
D F P/vs.
Enclosure
cc: Anton Graff, Administrator
02/12/09 WED 10:44 FAX DANIEL J. KRAMER Z003
Clerk(s)to abate said tax levied for the year 2002 in accordance with the provisions
hereof.
Section 3. Effective Date. This ordinance shall be in full force and effect
forthwith upon it adoption.
Adopted 2003
MIKE ANDERSON v JOSEPH BESCO
VALERIE BURD PAUL JAMES 1,
LARRY KOT U MARTY MUNNS
ROSE SPEARS RICHARD STICKA
ROVED by m , as Mayor of the United City of Yorkville,Kendall County, Illinois
this day of n r , A.D. 20__a�.
�C r
MAYOR
PASSED try the City C l of the United City of Yorkville, Kendall County,
Illlinois this oay of D. 2003.
Attest;
CITY CLERK