Ordinance 2016-23 YOak..Igols
IRY OF KENDAL,
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UNITED CITY OF YORKVILLE
KENDALL COUNTY, ILLINOIS
ORDINANCE NO. 2016-23
AN ORDINANCE AMENDING ORDINANCE NUMBER 2016-14
RELATING TO THE ISSUANCE OF THE CITY'S
SPECIAL SERVICE AREA NUMBERS 2005-108 AND 2005-109
SPECIAL TAX REFUNDING BONDS, SERIES 2016
Adopted by the City Council of the
United City of Yorkville,Kendall County, Illinois
This 23`d day of February, 2016
Published in pamphlet form by the
authority of the Mayor and City Council
of the United City of Yorkville,Kendall
County, Illinois on February 25, 2016.
ORDINANCE NUMBER 2016-0
AN ORDINANCE AMENDING
ORDINANCE NUMBER 2016-14
RELATING TO THE ISSUANCE OF THE CITY'S
SPECIAL SERVICE AREA NUMBERS 2005-108 AND 2005-109
SPECIAL TAX REFUNDING BONDS, SERIES 2016
WHEREAS, the United City of Yorkville, Kendall County, Illinois (the "City")
on February 9, 2016 adopted Ordinance Number 2016-14 entitled "An Ordinance Providing For
Issuance of United City Of Yorkville, Kendall County, Illinois Special Service Area Numbers
2005-108 and 2005-109 Special Tax Refunding Bonds, Series 2016 (the "Bond Ordinance");
WHEREAS, the City desires to amend the Bond Ordinance to increase the
percentage of original issue premium authorized by the Bond Ordinance;
WHEREAS, the increased original issue premium will maximize savings to the
homeowners.
NOW, THEREFORE, BE IT ORDAINED BY THE MAYOR AND CITY
COUNCIL OF THE UNITED CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS, as
follows:
Section 1. Preambles and Ratification. The preambles to this Ordinance are
incorporated by this reference as if set out in full. The City Council hereby ratifies and confirms
the Bond Ordinance and all covenants, pledges, grants and conveyances made pursuant to the
Bond Ordinance except as set forth herein.
Section 2. Amendment to Bond Ordinance. The first sentence of Section 4 of the
Bond Ordinance is hereby amended to authorize an original issue premium of not to exceed 6%
of the principal amount of the Bonds (as defined in the Bond Ordinance).
Section 3. Superseder and Effective Dates. All ordinances, resolutions and orders or
parts of ordinances, resolutions and orders in conflict with this Ordinance are superseded to the
extent of such conflict.
Section 4. Emergency Measure. This Ordinance being a matter of urgency because
of the desire of all parties to issue the Bonds on February 29, 2016, it shall take effect
immediately upon its passage and approval.
4827-1598-9806.1
PASSED BY THE CITY COUNCIL OF THE UNITED CITY OF YORKVILLE, KENDALL
COUNTY, ILLINOIS this February 23, 2016.
VOTING AYE: &ck I ke
VOTING.NAY:
ABSENT:
ABSTAINED:
NOT VOTING:
APPROVED by the Mayor this February 23, 2016
Mayor
ATTEST:
ity Clerk
2
4827-1598-9806.1