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Ordinance 1997-25 STATE OF ILLINOIS ) )ss COUNTY OF KENDALL ) ORDINANCE 97-AS AN ORDINANCE AUTHORIZING THE UNITED CITY OF YORKVILLE,KENDALL COUNTY,TO BORROW FUNDS FROM THE WATER POLLUTION CONTROL REVOLVING FUND FOR SANITARY SEWER REHABILITATION PROJECT WHEREAS, the UNITED CITY OF YORKVILLE, Kendall County, Illinois operates its sewerage system ("the System") and in accordance with the provisions of the Local Government Debt Reform Act, 30 ILCS 350/1 (collectively, "the Act"), and WHEREAS, the Mayor and City Council of the UNITED CITY OF YORKVILLE have determined that is advisable,necessary and in the best interests of public health, safety and welfare to improve the System, including the following: This project is being undertaken to rehabilitate the existing UNITED CITY YORKVILLE Sanitary Sewer System as outlined in the Sanitary Sewer System evaluation dated April 16, 1996, as prepared by Walter E. Deuchler and Associates,Inc.,together with any land or rights in land and all appurtenances, electrical, mechanical or other services necessary, useful or advisable to the construction and installation (the "Project"), all in accordance with the plans and specifications prepared by consulting engineers to the UNITED CITY OF YORKVILLE; and WHEREAS, the estimated cost of construction and installing the Project, including engineering, legal, financial and other related expenses is $2,326,000.00, and there are insufficient funds on hand and lawfully available to pay these costs; and WHEREAS, the costs are expected to be paid for with a loan to the UNITED CITY OF YORKVILLE from the Water Pollution Control Revolving Loan Fund through the Illinois Environmental Protection Agency, the loan to be repaid from existing utility tax received by the UNITED CITY OF YORKVILLE, as said yearly utility tax receipts exceeds debt service which will be required on the repayment of this loan, and the loan is authorized to be accepted at this time pursuant to the Act; and WHEREAS, in accordance with the provisions of the Act, the UNITED CITY OF YORKVILLE is authorized to borrow funds from the Water Pollution Control Revolving Loan Fund in the aggregate principal amount of$2,326,000.00; and WHEREAS,the loan to the UNITED CITY OF YORKVILLE shall be made pursuant to a Loan Agreement, including certain terms and conditions, between the UNITED CITY OF YORKVILLE and the Illinois Environmental Protection Agency; and NOW THEREFORE be it ordained by the Mayor and City Council of the UNITED CITY OF YORKVILLE, Kendall County, Illinois as follows: SECTION 1. INCORPORATION OF PREAMBLES The Corporate Authorities hereby find that the recitals contained in the preambles are true and correct, and incorporate them into this Ordinance by reference. SECTION 2. DETERMINATION TO BORROW FUNDS It is necessary and in the best interests of the UNITED CITY OF YORKVILLE to construct the Project for the public health, safety and welfare, in accordance with the plans and specifications, as described;that the System continue to be operated in accordance with the provisions of the Illinois Environmental Protection Act, 415 ILCS 511 et. seq.; and that for the purpose of construction the Project, it is hereby authorized that funds be borrowed by the UNITED CITY OF YORKVILLE in an aggregate principal amount (which includes construction period interest financed over the term Page 2 of 5 of the loan)not to exceed$2,326,000.00. SECTION 3. PUBLICATION This Ordinance,together with a notice in the statutory form, shall be published once within ten (10) days after passage in the Kendall County Record, a newspaper published and of general circulation in the UNITED CITY OF YORKVILLE,and if no petition,signed by electors numbering 10%or more of the registered voters in the UNITED CITY OF YORKVILLE being 3,748 votes and asking that the question of improving the System as provided in this Ordinance and entering into the Loan Agreement therefore be submitted to the electors of the UNITED CITY OF YORKVILLE, is filed with the City Clerk within 30 days after the date of publication of this Ordinance and notice, then this Ordinance shall be in full force and effect. A petition form shall be provided by the City Clerk to any individual requesting one. SECTION 4 ADDITIONAL ORDINANCES If no petition meeting the requirements of the Act and other applicable law is filed during the 30 day petition period, then the Corporate Authorities may adopt additional ordinances or proceedings supplementing or amending this Ordinance providing for entering into the Loan Agreement with the Illinois Environmental Protection Agency,prescribing all the details of the Loan Agreement, and providing for the collection, segregation and distribution of the City Utility Tax, so long as the maximum amount of the Loan Agreement as set forth in this Ordinance is not exceeded and there is no material change in the Project or purposes described herein. Any additional Ordinances or proceedings shall in all instances become effective in accordance with the Act or other applicable law. This Ordinance, together with such additional ordinances or proceedings, shall constitute complete authority for entering into the Loan Agreement under applicable law. Page 3 of 5 r , However,notwithstanding the above,the UNTIED CITY OF YORKVILLE may not adopt additional ordinances or amendments which provide for any substantive or material change in the scope and intent of this Ordinance, including but not limited to interest rate, preference or priority of any other Ordinance, parity of any other ordinance with the Ordinance, or otherwise alter or impair the obligation of the UNITED CITY OF YORKVILLE to pay the principal and interest due to the Water Pollution Control Revolving Loan Fund without the written consent of the Illinois Environmental Protection Agency. SECTION 5. LOAN NOT INDEBTEDNESS OF THE UNITED CITY OF YORKVILLE Repayment of the loan to the Illinois Environmental Protection Agency by the UNITED CITY OF YORKVILLE pursuant to this Ordinance is to be solely secured by revenue derived from the City utility tax and the loan does not constitute an indebtedness of the UNITED CITY OF YORKVILLE within the meaning of any constitutional or statutory limitation. SECTION 6. APPLICATION FOR LOAN The Mayor is hereby authorized to make application to the Illinois Environmental Protection agency for a loan through the Water Pollution Control Revolving Loan Fund,in accordance with the loan requirements set out in 35 Ill. Adm. Code 365. The loan funds received shall be used solely for the purposes of the project as approved by the Illinois Environmental Protection Agency in accordance with the terms and conditions of the Loan Agreement. SECTION 7. AUTHORIZATION OF MAYOR TO EXECUTE LOAN AGREEMENT The Mayor is hereby authorized and directed to execute the Loan Agreement with the Illinois Environmental Protection Agency. Page 4 of 5 SECTION 8. SEVERABILITY If any section,paragraph,clause or provision of this Ordinance is held invalid,the invalidity of such section, paragraph, clause or provision shall not affect any of the other provisions of this Ordinance. SECTION 9. REPEALER All ordinance,resolutions orders or parts thereof,which conflict with the provisions of this Ordinance are, to the extent of such conflict,hereby repealed. Passed by City the Ci Council of the United City of Yorkville, on �G I O , 1997. obert Johnso ayor Yorkville,K all County, Illinois AYES:_ NAYES: ABSENT: PUBLISHED in the Kendall County Record on October 16, 1997. ATTEST: City Clerk Law Offices of Daniel J. Kramer 1107A S. Bridge Street Yorkville, Illinois 60560 630.553.9500 F:\CLIENTS\CITYOFYO\RESOLUTMORSS Page 5 of 5 STATE OF ILLINOIS ) )ss COUNTY OF KENDALL ) NOTICE OF INTENT TO BORROW FUNDS AND RIGHT TO FILE PETITION NOTICE IS HEREBY GIVEN that, pursuant to Ordinance Number aS , adopted on October 9, 1997, by the City Council of the UNITED CITY OF YORKVILLE, Kendall County, Illinois, intends to enter into a Loan Agreement with the Illinois Environmental Protection Agency in an aggregate principal amount not to exceed $2,326.000.00 and bearing annual interest at an amount not exceed the maximum rate authorized by law at the time of execution of the Loan Agreement, for the purpose of paying the costs of certain improvements to the sewerage system of the UNITED CITY OF YORKVILLE. A complete copy of the Ordinance accompanies this notice. NOTICE IS HEREBY FURTHER GIVEN that if a petition signed by 375 or more electors of the UNITED CITY OF YORKVILLE (being equal to 10% of the registered voters in the UNITED CITY OF YORKVILLE),requesting that the question of improving the sewerage system and entering into the Loan Agreement therefor is submitted to the UNITED CITY OF YORKVILLE Clerk within 30 days after the publication of this Notice, the question of improving the sewerage system of the UNITED CITY OF YORKVILLE as provided in the Ordinance and Loan Agreement shall be submitted to the electors of the UNITED CITY OF YORKVILLE at the to be held on A Petition form is available from the office of the City Clerk. -K. City Clerk, Yorkville,Kendall County, Illinois