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Ordinance 2014-69 KO tIF ItLL-WiS com a 14�i94it - FILED - DEC 10 2014 Imo' ceax�r aUN . Ocau couEm UNITED CITY OF YORKVILLE KENDALL COUNTY, ILLINOIS ORDINANCE NO. 2014-69 AN ORDINANCE ABATING TAXES LEVIED BY ORDINANCES ADOPTED BY THE CITY COUNCIL OF THE UNITED CITY OF YORKVILLE,KENDALL COUNTY,ILLINOIS, WHICH PROVIDED FOR THE ISSUANCE OF ITS GENERAL OBLIGATION BONDS (ALTERNATE REVENUE SOURCE , SERIES 2005A AND ITS GENERAL OBLIGATION BONDS (ALTERNATE REVENUE SOURCE), SERIES 20050 AND A LEVY OF TAXES RELATED THERETO Passed by the City Council of the United City of Yorkville,Kendall County, Illinois This 25"'day of November, 2014 Published in pamphlet form by the authority of the Mayor and City Council of the United City of Yorkville,Kendall County, Illinois on December 4, 2014. "AU OF *.wIS ORDINANCE NO. 2014-69 COM M VML FILM - AN ORDINANCE ABATING TAXES LEVIED BY ORDINANCES ADOPTED BY THE ff 10 20'4 COUNCIL OF THE UNITED CITY OF YORKVILLE, KENDALL COUNTY, ILL ��ii, LtJ WHICH PROVIDED FOR THE ISSUANCE OF ITS GENERAL OBLIGAT BO !�Y CLEM (ALTERNATE REVENUE SOURCE), SERIES 2005A AND ITS GENERAL W� am cow" BONDS (ALTERNATE REVENUE SOURCE), SERIES 2005C AND A LEVY OF TAXES RELATED THERETO WHEREAS, the City Council (the "Council") of the United City of Yorkville, Kendall County, Illinois (the "City") did adopt an ordinance (the "2005A Ordinance") authorizing the issuance of its General Obligation Bonds (Alternate Revenue Source), Series 2005A (the "2005A Bonds"); and WHEREAS, the Council did adopt an ordinance (the "2005C Ordinance") authorizing the issuance of its General Obligation Bonds (Alternate Revenue Source), Series 2005C (the "2005C Bonds", and together with the 2005A Bonds, the "Refunded Bonds"); and WHEREAS, the 2005A Ordinance and the 2005C Ordinance were in full force and effect upon passage, approval and publication, and thereafter a certified copy thereof was duly filed in the Office of the County Clerk in Kendall County; and WHEREAS, the 2005A Ordinance and the 2005C Ordinance collectively authorized the issuance of the Refunded Bonds, and provided for the levy of a direct annual tax upon all taxable property within the City in and for the years 2014 through and including 2021 for the 2005A Bonds and in the years 2014 through and including 2023 for the 2005C Bonds, in an amount sufficient to pay the principal of and interest on the Refunded Bonds when due; and WHEREAS, the City has authorized the issuance of its General Obligation (Alternate Revenue Source) Refunding Bonds, Series 2014B (the "2014B Bonds") and its General Obligation (Alternate Revenue Source) Refunding Bonds, Series 2014C (the "2014C Bonds", and together with the 2014B Bonds, the "2014 Bonds") to refund the outstanding Refunded Bonds maturing December 30, 2015, through December 30, 2023; and WHEREAS, the Council hereby finds and determines that it is advisable and necessary to provide for abatement of the tax heretofore levied for the years 2014 through and including 2021 for the 2005A Bonds and in the years 2014 through and including 2023 for the 2005C Bonds upon the delivery of and receipt of payment for the 2014 Bonds; Now THEREFORE, BE IT ORDAINED by the City Council of the United City of Yorkville, Kendall County, Illinois, as follows: Section 1. Abatement. That it shall be and it is found and determined that the Council of the City has provided for the levy of a direct annual tax upon all taxable property within the City in and for the years 2014 through and including 2021, in an amount sufficient to provide the funds to pay when due the principal of and interest on the 2005A Bonds. It is further found and determined that the Council deems it advisable and in the best interests of the City upon issuance of the 2014 Bonds and the defeasance of the 2005A Bonds to provide for abatement of the taxes heretofore levied for the levy years 2014 through and including 2021 pursuant to the Ordinance as follows: FOR THE YEAR TAX LEVY 2014 $330,578.76 2015 336,178.76 2016 336,178.76 2017 340,518.76 2018 344,106.26 2019 341,781.26 2020 348,656.26 2021 349,656.26 That it shall be and it is found and determined that the Council of the City has provided for the levy of a direct annual tax upon all taxable property within the City in and for the years -2- 2014 through and including 2023, in an amount sufficient to provide the funds to pay when due the principal of and interest on the 2005C Bonds. It is further found and determined that the Council deems it advisable and in the best interests of the City upon issuance of the 2014 Bonds and the defeasance of the 2005C Bonds to provide for abatement of the taxes heretofore levied for the levy years 2014 through and including 2023 pursuant to the Ordinance as follows: FOR THE YEAR TAX LEVY 2014 $168,175.00 2015 168,975.00 2016 164,575.00 2017 170,175.00 2018 165,375.00 2019 168,775.00 2020 166,625.00 2021 164,200.00 2022 166,500.00 2023 158,250.00 Section 2. Filing. A copy of this ordinance, duly certified by the City Clerk, which certificate shall recite that this ordinance has been adopted by the Council of the City and is in full force and effect, shall be filed with the County Clerk of Kendall County, Illinois, after delivery by the City of the 2014 Bonds, and shall constitute authority for the County Clerk for levy years 2014 through and including 2023 to abate the levy in its entirety as discussed above in Section 1 associated with the Refunded Bonds. Section 3. Severability. If any section, paragraph or provision of this ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph or provision shall not affect any of the remaining provisions of this ordinance. Section 4. Publication. The City Clerk is hereby authorized and directed to publish this ordinance and to file copies thereof for public inspection in his/her office. -3- Section 5. Conflicting Ordinances. All ordinances, resolutions and parts of ordinances and resolutions, in conflict herewith are hereby repealed. Section 6. Headings. The headings or titles of the several sections shall be solely for convenience of reference and shall not affect the meaning, construction or effect of this ordinance. Section 7. Effective Date. This ordinance shall be in full force and effect from and after its adoption and publication, but the abatement of taxes for the Refunded Bonds shall not be effective until the delivery of 2014 Bonds and the defeasance of the Refunded Bonds. ADOPTED this 25 day of November , 2014, pursuant to a roll call vote as follows: AYES: Funkhouser, Milschewski,Teeling, Koch, Kot, Frieders, Spears, Colosimo NAYS: APPROVED by me this o9 day of 1bEtZM 3E(, , 2014. UNITED CITY OF YORKVILLE KENDALL COUNTY,ILLINOIS Aa4�', Mayor ATTEST: Z& A4 City Clerk -4- Alderman (. ,' moved and Alderman seconded the motion that said ordinance as presented by the City Clerk be adopted. After a full discussion thereof, the Mayor directed that the roll be called for a vote upon the motion to adopt said ordinance as read. Upon the roll being called, the following Alderman voted AYE: ra v7 k 1,4,- 16 O�L and the following Alderman voted NAY: Whereupon the Mayor declared the motion carried and said ordinance adopted, approved and signed the same in open meeting and directed the City Clerk to record the same in full in the records of the City Council of the United City of Yorkville, Kendall County, Illinois, which was done. Other business not pertinent to the adoption of said ordinance was duly transacted at said meeting. Upon motion duly made, seconded and carried, the meeting was adjourned. City Clerk, United City of Yorkville -5- STATE OF ILLINOIS ) ) SS COUNTY OF KENDALL ) CERTIFICATION OF ORDINANCE AND MINUTES I, the undersigned, do hereby certify that I am the duly qualified and acting City Clerk of the United City of Yorkville, Kendall County, Illinois (the "City"), and as such official am the keeper of the records and files of the City Council and of the City. I further certify that the foregoing is a full, true and complete transcript of that portion of the minutes of the meeting of the City Council held on the 075 day of AIOvEMBF-2 , 2014, insofar as the same relates to the adoption of Ordinance No. a0i44A entitled: AN ORDINANCE ABATING TAXES LEVIED BY ORDINANCES ADOPTED BY THE CITY COUNCIL OF THE UNITED CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS, WHICH PROVIDED FOR THE ISSUANCE OF ITS GENERAL OBLIGATION BONDS (ALTERNATE REVENUE SOURCE), SERIES 2005A AND ITS GENERAL OBLIGATION BONDS (ALTERNATE REVENUE SOURCE), SERIES 2005C AND A LEVY OF TAXES RELATED THERETO a true, correct and complete copy of which said ordinance as adopted at said meeting appears in the foregoing transcript of the minutes of said meeting. I do further certify that the deliberations of the City Council on the adoption of said ordinance were conducted openly, that the vote on the adoption of said ordinance was taken openly, that said meeting was held at a specified time and place convenient to the public, that notice of said meeting was duly given to all of the news media requesting such notice, that said meeting was called and held in strict compliance with the provisions of the Open Meetings Act of the State of Illinois, as amended, and that the City has complied with all of the provisions of said Act and with all of the procedural rules of the City Council. IN WITNESS WHEREOF, I hereunto affix my official signature and seal of said City, this a5 day of 40VEM gE A , 2014. City ler , United City of Yorkville Kendall County, Illinois (SEAL) STATE OF ILLINOIS SS COUNTY OF KENDALL FILING CERTIFICATE I, the undersigned, do hereby certify that I am the duly qualified and acting County Clerk of Kendall County, Illinois, and as such official I do further certify that on the I Oday of December , 2014, there was filed in my office a duly certified copy of Ordinance No. 2014-69 entitled: AN ORDINANCE ABATING TAXES LEVIED BY ORDINANCES ADOPTED BY THE CITY COUNCIL OF THE UNITED CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS, WHICH PROVIDED FOR THE ISSUANCE OF ITS GENERAL OBLIGATION BONDS (ALTERNATE REVENUE SOURCE), SERIES 2005A AND ITS GENERAL OBLIGATION BONDS (ALTERNATE REVENUE SOURCE), SERIES 2005C AND A LEVY OF TAXES RELATED THERETO duly adopted by the City Council of the United City of Yorkville, Kendall County, Illinois, on the 25 day of November , 2014, and that the same has been deposited in the official files and records of my office. IN WITNESS WHEREOF, I hereunto affix my official signature and the seal of said County, this10 day of December , 2014. ounty Clerk of Kendall County, Illinois (SEAL)