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Ordinance 2006-006 i ORDINANCE No. AZO 'Ob I . ORDINANCE abating the tax hereto levied for the year 2005 to pay the principal of and interest on $3,525,000 General Obligation Bonds (Alternate Revenue Source), Series 2005, of the United City of Yorkville, Kendall County, Illinois. WHEREAS, the City Council (the "Corporate Authorities") of the United City of Yorkville, Kendall County, Illinois (the "City "), by Ordinance Number 2005 -22, adopted on the 8th day of March, 2005 (the "Ordinance"), did provide for the issue of $3,525,000 General Obligation Bonds (Alternate Revenue Source), Series 2005 (the "Bonds "), and the levy of a direct annual tax sufficient to pay the principal of and interest on the Bonds; and WHEREAS, the Pledged Revenues (as defined in the Ordinance) have been determined by the Treasurer to provide an amount not less than 1.00 times debt service of all Outstanding Bonds (as defined in the Ordinance) in the next succeeding bond year (June 1 and December 1); and WHEREAS, the Pledged Revenues have been deposited in the Pledged Revenues Account of the 2005 Alternate Bond Fund (as created in the Ordinance) in an amount sufficient to pay debt service on all Outstanding Bonds in the next succeeding bond year; and WHEREAS, it is necessary and in the best interests of a the City that the tax heretofore levied for the year 2005 to pay the principal of and interest on the Bonds be abated; Now, THEREFoRE, Be It Ordained by the City Council of the United City of Yorkville, Kendall County, Illinois, as follows: Section 1. Abatement of Tax. The tax heretofore levied for the year 2005 in the Ordinance is hereby abated in its entirety. Section 2. Filing of Ordinance. Forthwith upon the adoption of this ordinance, the City Clerk shall file a certified copy hereof with the County Clerk of The County of Kendall, 1 -3 -06 Abatement Ord.doc Illinois, and it shall be the duty of said County Clerk to abate said tax levied for the year 2005 in accordance with the provisions hereof. Section 3. Effective Date. This ordinance shall be in full force and effect forthwith upon its passage by the Corporate Authorities and signing and approval by the Mayor. ADOPTED by the Corporate Authorities on the 24' day of January, 2006, pursuant to a roll call vote as follows: PAUL JAMES MARTY MUNNS JASON LESLIE WANDA OHARE VALERIE BURD ROSE SPEARS f� DEAN WOLFER JOSEPH BESCO APPRovED by me, as Mayor of the United City of Yorkville, Kendall County, Illinois, the 24` day of January, 2006. MAYOR PASSED by the City Council of the United City of Yorkville, Kendall County, Illinois, the 24'' day of January, 2006. Atte C ITY LERK 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 The County of Kendall, Illinois, and as such official I do further certify that on the'day of 2006, there was filed in my office a duly certified copy of Ordinance No.�© 0 �Pr 0 itled: ORDINANCE abating the tax hereto levied for the year 2005 to pay the principal of and interest on $3,525,000 General Obligation Bonds (Alternate Revenue Source), Series 2005, of the United City of Yorkville, Kendall County, Illinois. I (the "Ordinance") duly adopted by the City Council of the United City of Yorkville, Kendall County, Illinois (the "City "), on the 24 day of January, 2006, and that the same has been deposited in the official files and records of my office. I do further certify that the taxes heretofore levied for the year 2005 for the payment of the City's $3,525,000 General Obligation Bonds (Alternate Revenue Source), Series 2005, as described in the Ordinance will be abated in their entirety as provided in the Ordinance. IN WITNE WHEREOF I hereunto affix my official signature and the seal of said County this day d 2006. J Count Clerk [SEAL] Z;�