Ordinance 2016-76 STAN� r
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DEC 0 7 2016
UNITED CITY OF YORKVILLE
KENDALL COUNTY, ILLINOIS
ORDINANCE NO. 2016-76
ORDINANCE ABATING SPECIAL SERVICE AREA TAXES FOR
SPECIAL SERVICE AREA NUMBERS 2005-108 AND 2005-109
SPECIAL TAX REFUNDING BONDS, SERIES 2016
(AUTUMN CREEK PROJECT AND BRISTOL BAY I PROJECT)
Passed by the City Council of the
United City of Yorkville,Kendall County, Illinois
This 22nd 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- -7(o
AN ORDINANCE ABATING SPECIAL SERVICE AREA TAXES FOR
SPECIAL SERVICE AREA NUMBERS 2005-108 AND 2005-109
SPECIAL TAX REFUNDING BONDS,SERIES 2016
(AUTUMN CREEK PROJECT AND BRISTOL BAY I PROJECT)
BE IT ORDAINED by the Mayor and City Council of the United City of Yorkville,
Kendall County, Illinois, as follows:
Section 1. It is found and declared by the Mayor and City Council of the United City
of Yorkville, Kendall County, Illinois (the"City"), as follows:
(a) The City Council adopted Ordinance No. 2006-26 on March 28, 2006 (the
"Autumn Creek 2006 Bond Ordinance") pursuant to which: (i) the City issued $14,980,000
principal amount of Special Service Area Number 2005-108 Special Tax Bonds, Series 2006
(Autumn Creek Project) (the "Autumn Creek 2006 Bonds"), of the United City of Yorkville, for
the purpose of paying for the costs of certain improvements benefiting the Special Service Area
Number 2005-108 (the "SSA 2005-108 Area'); and (ii) provided for the levy of a Special Tax
upon all taxable property within the SSA 2005-108 Area sufficient to pay the principal of the
Autumn Creek 2006 Bonds for each year at maturity or mandatory sinking fund
redemption dates and to pay interest and administrative expenses of the SSA 2005-108 Area for
each such year.
(b) The City Council adopted Ordinance No. 2006-18 on March 14, 2006 (the
"Bristol Bay 2006 Bond Ordinance") pursuant to which: (i) the City issued
$19,000,000 principal amount of Special Service Area Number 2005-109 Special Tax Bonds,
Series 2006 (Bristol Bay I Project) (the "Bristol Bay 2006 Bonds"), of the United City of
Yorkville, for the ppurpose of paying for the costs of certain improvements benefiting the
Special Service Area Number 2005-109 (the "SSA 2005-109 Area'); and (ii) provided for the
Ordinance No.2016-'7(o
Page 2
levy of a Special Tax upon all taxable property within the SSA 2005-109 Area sufficient to pay
the principal of the Bristol Bay 2006 Bonds for each year at maturity or mandatory sinking
fund redemption dates and to pay interest and administrative expenses of the SSA 2005-109
Area for each such year.
(c) The City Council adopted Ordinance No. 2016-14 on February 9, 2016, pursuant
to which the City issued $28,840,000 of its Special Service Area Numbers 2005-108 and 2005-
109 Special Tax Refunding Bonds, Series 2016 (the "Series 2016 Bonds") for the purpose of
refunding and defusing the entire outstanding principal amount of the Autumn Creek 2006
Bonds and the Bristol Bay 2006 Bonds. Ordinance No. 2016-14 (the "Series 2016 Bond
Ordinance") of the City, pursuant to which the Series 2016 Bonds were issued, provided for a
separate levy for payment of debt service on the Series 2016 Bonds and directed the City to
adopt and file an abatement ordinance partially abating the levy of taxes for levy years 2015 and
later, to be effective upon the issuance of the Series 2016 Bonds.
Section 2. There is hereby abated taxes levied pursuant to the Series 2016 Bond
Ordinance in the amount of $270,343.00 as levied for SSA 2005-108 (Series 2006 Autumn
Creek Project) and $363,792.48 as levied for the SSA 2005-109 (Series 2006 Bristol Bay
Project) for the levy year of 2016 which amount was calculated in accordance with the Special
Tax Roll and Report prepared by David Taussig &Associates, Inc.
Section 3. It is the duty of the County Clerk of Kendall County to abate paid taxes as
provided in Sections 2 of this Ordinance and the amended Levy Year 2016 Special Tax Rolls
attached hereto (the"Amended Special Tax Rolls").
Section 4. 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
Ordinance No. 2016-
Page 3
City Clerk shall cause this Ordinance to be published in pamphlet form. This Ordinance shall
be in full force and effect upon its passage, approval and publication as provided by law.
Section S. A copy of this Ordinance shall be filed with the County Clerk of Kendall
County. The County Clerk of Kendall County is hereby directed to extend the Special Taxes.
Passed by the City Council of the United City of Yorkville, Kendall County, Illinois, this
dQ day of dOV6M 6E12 , A.D. 2016.
CARLO COLOSIMO CLve. KEN KOCH 6ZVe_
JACKIE MILSCHEWSKI n� LARRY KOT a� e
CHRIS FUNKHOUSER y�,V/� JOEL FRIEDERS �
DIANE TEELING SEAVER TARULIS
Approved this 90 day of 40VEM 8U, , 2016.
AQ4 JJU
May
Attest:
�GGR_
-DEPVrr`( City Clerk
Ordinance No.2016-1�0
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