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Ordinance 2016-75 IN l'E AL DEc � zatb kt�i �Nry UNITED CITY OF YORKVILLE KENDALL COUNTY, ILLINOIS ORDINANCE NO. 2016-75 ORDINANCE ABATING SPECIAL SERVICE AREA TAXES FOR SPECIAL SERVICE AREA NUMBER 2004-107 (RAINTREE VILLAGE H PROJECT) Passed by the City Council of the United City of Yorkville,Kendall County,Illinois This 22"d day of November,2016 Published in pamphlet form by the authority of the Mayor and City Council of the United City of Yorkville,Kendall County,Illinois on December 1,2016. ORDINANCE NO. 2016- -75 ORDINANCE ABATING SPECIAL SERVICE AREA TAXES FOR SPECIAL SERVICE AREA NUMBER 2004-107 (RAINTREE VILLAGE II PROJECT) BE IT ORDAINED BY THE CITY COUNCIL OF THE UNITED CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS, AS FOLLOWS: Section 1. It is found and declared by the City Council of the United City of Yorkville, Kendall County, Illinois (the "City"), as follows: (a) The City Council of the City adopted Ordinance No. 2005-91 on November 22, 2005 (the "Bond Ordinance") which: (i)provided for the issuance of not to exceed $10,000,000 of Special Service Area Number 2004-107 Special Tax Bonds, Series 2005 (Raintree Village 11 Project) (the "Bonds"), of the United City of Yorkville, which were issued in the original principal amount of $9,400,000 for the purpose of paying for the costs of certain improvements benefiting the Special Service Area Number 2004-107 (the "Special Service Area"); and (ii)provided for the levy of a Special Tax upon all taxable property within the Special Service Area sufficient to pay the principal of the Bonds for each year at maturity or mandatory sinking fund redemption dates and to pay interest and Administrative Expenses of the Special Service Area for each such year. The Bond Ordinance also authorized the City to abate the taxes levied pursuant to such Ordinance to the extent the taxes levied exceeded the Special Tax Requirement (as defined in the Bond Ordinance) as calculated pursuant to the Special Service Area Number 2004-107 Special Tax Roll and Report (the "Special Tax Report") prepared by David Taussig& Associates, Inc. (the"Consultant"). Ordinance No.2016- -7 5 Page 2 (b) Pursuant to the Special Tax Report, the Consultant of the City has determined that the Special Tax Requirement for 2016 for the Bonds is $787,099.00 and the 2016 Levy for Special Taxes is $787,099.00. Section 2. Of the $794,512.00 of Special Taxes levied for calendar year 2016 pursuant to Section 6 of the Bond Ordinance $7,413.00 of such Special Taxes is hereby abated resulting in a 2016 calendar year levy of$787,099.00. Section 3. It is the duty of the County Clerk of Kendall County to abate those taxes as provided in Section 2 of this Ordinance. Section 4. The City Council of the City hereby approves the United City of Yorkville Special Service Area Number 2004-107 Administration Report Levy Year 2016 dated November 13, 2016 prepared by David Taussig& Associates, Inc. and the 2016 Amended Special Tax Roll attached to such report with such changes therein as are deemed necessary by the Mayor and the City's consultant to reflect any changes in final parcel identification numbers. Section 5. All ordinances, resolutions and orders or parts of ordinances, resolutions and orders in conflict with this ordinance are repealed to the extent of such conflict. The City Clerk shall cause this Ordinance to be published in pamphlet form. This Ordinance shall be in full force and effect after passage and publication as provided by law. Ordinance No.2016-7 Page 3 ( s PASSED by the City Council of the City this 1Y OVEPAW a 2016. CARLO COLOSIMO �� KEN KOCH _ QV2 JACKIE MILSCHEWSKI LARRY KOT � CHRIS FUNKHOUSER _ JOEL FRIEDERS (�y� DIANE TEELING (lt Q, SEAVER TARULIS olve l"�EpuTY City Clerk SIGNED by the Mayor this �OVf-n4 a'2'016. Mayor ATTEST: -OF-'PO-r`( City Clerk Published in pamphlet form D&Em6EP, 1 2016. Ordinance No.2016-115 Page 4