Ordinance 2005-009 ORDINANCE NUMBER X1 S
An Ordinance authorizing the issuance of General Obligation
Bonds (Alternate Revenue Source), in an aggregate principal
amount not to exceed $4,000,000, for the purpose of defraying the
costs of a redevelopment project in and for the United City of
Yorkville, Kendall County, Illinois.
WHEREAS, the United City of Yorkville, Kendall County, Illinois (the "City"), is a
municipality duly organized and operating under the laws of the State of Illinois; and
WHEREAS, the City Council (the "City Council") expects to approve a redevelopment
plan (the "Plan ") and project (the "Project ") for and designate the US Route 34 & IL Route 47
(Countryside Shopping Center) Tax Increment Financing Redevelopment Project Area (the
"Project Area") and adopt tax increment allocation financing therefor, all as provided in the Tax
Increment Allocation Redevelopment Act, as supplemented and amended (the "TIF Act "); and
WHEREAS, the City Council has determined that it is advisable, necessary and in the best
interests of the residents of the City that the City assist in the redevelopment of the Project Area,
by paying or reimbursing certain "redevelopment project costs" incurred or to be incurred for the
Project Area, including but not limited to acquisition of land or rights in land, site preparation,
and public infrastructure improvements, together with related appurtenances, all electrical,
professional, financial, bond registrar, legal, mechanical and other services necessary, useful or
advisable to such acquisition, construction and installation (the "2005 Redevelopment Project ");
and
WHEREAS, the City Council expects to approve the 2005 Redevelopment Project as part
of the Plan and Project; and
WHEREAS, the 2005 Redevelopment Project constitutes eligible "redevelopment project
costs" all as provided and defined in the TIF Act; and
WHEREAS, the estimated cost of acquiring, constructing and installing the 2005
Redevelopment Project, including engineering, legal, financial, bond interest, bond discount,
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printing and publication costs, an initial deposit to a capitalized interest account for the bonds
hereinafter described, and other related expenses, is not less than $4,000,000, and interest
earnings thereon, and there are insufficient funds on hand and lawfully available to pay such
costs; and
WHEREAS, pursuant to the provisions of the Local Government Debt Reform Act of the
State of Illinois, as amended (the "Reform Act "), "Alternate Bonds" as defined in the Reform
Act may be issued pursuant to "Applicable Law" (as defined in the Reform Act) for the 2005
Redevelopment Project; and
WHEREAS, the City has "revenue sources," as defined in the Reform Act, being (i) sales
taxes received by the City pursuant to the Use Tax Act, the Service Use Tax Act, the Service
Occupation Tax Act, and the Retailer's Occupation Tax Act, each as supplemented and amended
from time to time by the General Assembly of the State of Illinois and (ii) certain incremental
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property taxes to be derived from the Project Area and to be received by the City (the "Revenue
Sources "), and accordingly the City is authorized to issue Alternate Bonds, secured by such
revenue sources or any portion thereof, all pursuant to the provisions of the Reform Act; and
and for he best interests of the City WHEREAS, it is necessary a t y that the 2005
Redevelopment Project be undertaken and that up to $4,000,000 in aggregate principal amount of
Alternate Bonds, being general obligation bonds payable from the Revenue Sources, be
authorized to be issued at this time pursuant to the Reform Act:
Now, THEREFORE, Be It Ordained by the City Council of the United City of Yorkville,
Kendall County, Illinois, as follows:
Section 1. Incorporation of Preambles. The City Council hereby finds that the recitals
contained in the preambles to this ordinance are true and correct and incorporate them into this
ordinance by this reference.
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Section 2. Detennination To Issue Bonds. It is necessary and in the best interests of
the City to acquire, construct and install the 2005 Redevelopment Project for the public health,
safety and welfare, as described and that for the purpose of financing the 2005 Redevelopment
Project, there are hereby authorized to be issued and sold one or more series of General
Obligation Bonds (Alternate Revenue Source) (the "Alternate Bonds "), of the City, in an
aggregate principal amount of not to exceed $4,000,000.
Section 3. Publication. This ordinance, together with a notice in the statutory form,
shall be published once by the City Council in the Kendall County Record, being a newspaper of
general circulation in the City, and if no petition, signed by 455 electors (the same being equal to
the greater of (i) 7.5% of the registered voters of the City or (ii) 200 of those registered voters or
15% of the registered voters, whichever is less) and asking that the question of the issuance of
the Alternate Bonds be submitted to the electors of the City, is filed with the City Clerk within
30 days after the date of the publication of this ordinance and said notice, then this ordinance
shall be in full force and effect. A petition form shall be provided by the City Clerk to any
individual requesting one.
Section 4. Additional Ordinances. If no petition meeting the requirements of
Applicable Law is filed during the petition period hereinabove referred to, then the City Council
may adopt additional ordinances or proceedings supplementing or amending this ordinance
providing for the 2005 Redevelopment Project, and the issuance and sale of the Alternate Bonds,
prescribing all the details of said Alternate Bonds, so long as the maximum amount of said
Bonds as set forth in this ordinance is not exceeded and there is no material change in the 2005
Redevelopment Project or purposes described herein. Such additional ordinances or proceedings
shall in all instances become effective in accordance with applicable law. This ordinance,
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together with such additional ordinances or proceedings, shall constitute complete authority for
the issuance of said Bonds under applicable law.
Section S. Severability. If any section, paragraph, clause or provision of this ordinance
shall be held invalid, the invalidity of such section, paragraph, clause or provision shall not affect
any of the other provisions of this ordinance.
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Section 6. Repealer. All ordinances, resolutions or orders, or parts thereof, in conflict
with the provisions of this ordinance are to the extent of such conflict hereby repealed.
ADOPTED by the City Council on the 25th day of January, 2005, pursuant to a roll call
vote as follows:
PAUL JAMES MARTY MUNNS
v
RICHARD STICKA WANDA O'HARE
VALERIE BURD ROSE SPEARS cam
LARRY KOT c JOSEPH BESCO
APPROVED by me, as Mayor of the United City of Yorkville, Kendall County, Illinois,
the 25th day of January, 2005.
MAYOR
PASSED by the City Council of the United City of Yorkville, Kendall County, Illinois, the
25th day of January, 2005.
Att -► ' \
V CITY LERK
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Aldemma moved and Alderman seconded
the motion that said ordinance as presented by the City Clerk be adopted.
After a full and complete discussion thereof including a public recital of the nature of the
matter being considered and such other information as would inform the - public of the business
being conducted, the Mayor directed that the roll be called for a vote upon the motion to adopt
the ordinance. -� 1
Upon the roll being called, the following Aldermen voted AYE: .
NAY:
Whereupon the Mayor declared the motion carried and the ordinance adopted, and
henceforth 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.
Other business not pertinent to the adoption of said ordinance was duly transacted at said
meeting.
Upon motion duly made and seconded, the meeting was adjourned.
City erk
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 officer I am the
keeper of the books, records, files, and journal of proceedings of the City and of the City Council
thereof (the "Council").
I do further certify that the foregoing constitutes a full, true and complete transcript of the
minutes of the meeting of the Council held on the 25th day of January, 2005, insofar as same
relates to the adoption of Ordinance No. 2005 - 0 ° '\ entitled:
AN ORDINANCE authorizing the issuance of General Obligation
Bonds (Alternate Revenue Source) of the United City of Yorkville,
Kendall County, Illinois, in an aggregate principal amount not to
exceed $4,000,000.
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 Council on the adoption of said ordinance
were taken 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 an agenda for said
meeting was posted at the location where said meeting was held and at the principal office of the
Council by at least 5:00 p.m. on Friday, January 21, 2005, that said agenda contained a separate
specific item concerning the proposed adoption of said ordinance, a true, correct and complete
copy of the agenda as so posted being attached to this certificate as Exhibit A, that said meeting
was called and held in strict accordance with the provisions of the Illinois Municipal Code, as
amended, the Open Meetings Act of the State of Illinois, as amended, and the Local Government
Debt Reform Act of the State of Illinois, as amended, and that the Council has complied with all
of the applicable provisions of said Code and said Acts and its procedural rules in the adoption of
said ordinance.
IN WITNESS WHEREOF, I hereunto affix my official signature and the seal of the City, this
25th day of January, 2005.
7 1tyy Clerk, United ity of Yorkville,
Kendall County, Illinois
(SEAL)
[Agenda attached hereto as Exhibit A]
t
PETITION
To the City Clerk of the United City of Yorkville, Kendall County, Illinois:
We, the undersigned, being voters of the United City of Yorkville, Kendall County, Illinois, do
hereby petition you to cause to be submitted to the voters of the City the following question: "Shall the
United City of Yorkville, Kendall County, Illinois, issue not to exceed $4,000,000 General Obligation
Bonds (Alternate Revenue Source) for the purpose of paying certain redevelopment project costs to be
incurred in connection with the redevelopment of the US Route 34 & IL Route 47 (Countryside
Shopping Center) Tax Increment Financing Redevelopment Project Area, said bonds bearing interest at a
rate or rates not to exceed the maximum rate authorized by law at the time said bonds (or any portion
thereof) are sold, the revenue sources that will be used to pay the principal of and interest on said bonds
being the (i) sales taxes received by said City pursuant to the Use Tax Act, the Service Use Tax Act, the
Service Occupation Tax Act, and the Retailer's Occupation Tax Act, each as supplemented and amended
from time to time by the General Assembly of the State of Illinois, and (ii) certain incremental property
taxes arising in the US Route 34 & IL Route 47 (Countryside Shopping Center) Tax Increment Financing
Redevelopment Project Area as designated by said City under and pursuant to the Tax Increment
Allocation Redevelopment Act of the State of Illinois, as amended; or, if such revenue sources shall be
insufficient, then from ad valorem property taxes levied upon all taxable property in the City without
limitation as to rate or amount ?" We do further request that said question be certified to the County
Clerk of The County of Kendall, Illinois, and submitted to the electors of said City at the general primary
election to be held on March 21, 2006.
NAME ADDRESS
United City of Yorkville, Kendall County, Illinois
United City of Yorkville, Kendall County, Illinois
United City of Yorkville, Kendall County, Illinois
United City of Yorkville, Kendall County, Illinois
United City of Yorkville, Kendall County, Illinois
United City of Yorkville, Kendall County, Illinois
United City of Yorkville, Kendall County, Illinois
The undersigned, being first duly sworn, deposes and certifies that he or she is at least 18 years
of age, his or her residence address is (Street Address),
(City, Village or Town), County, (State),
that he or she is a citizen of the United States of America, that the signatures on the foregoing petition
were signed in his or her presence and are genuine, that to the best of his or her knowledge and belief the
persons so signing were at the time of signing said petition registered voters of said City and that their
respective residences are correctly stated therein.
Signed and sworn to before me this
day of .2005.
Notary Public
My commission expires
(Notary Seal)
MINUTES of a regular public meeting of the City Council of the
United City of Yorkville, Kendall County, Illinois, held at the City
Council Chambers of the City Hall, located at 800 Game Farm
Road, in said City, at 7:00 o'clock P.M., on the 25th day of
January, 2005.
The Mayor called the meeting to order and directed the City Clerk to call the roll.
Upon roll call, the following answered present at said location: Arthur F. Prochaska, Jr.,
Mayor, and Aldermen
The following Aldermen were a4sent:
The Mayor announced that in order to finance redevelopment project costs in the US
Route 34 & IL Route 47 (Countryside Shopping Center) Tax Increment Financing
Redevelopment Project Area of the City, it would be necessary for the City to issue alternate
bonds, and that the City Council would consider the adoption of an ordinance authorizing the
issuance of such bonds.
Whereupon Alderma�r-- presented the following ordinance,
copies of which were made available to all in attendance at said meeting who requested a copy:
1 -18 -05 Authorizing Ordinance (clean).doc
2127207/KK/1 /18/05
NOTICE OF INTENT TO ISSUE BONDS AND RIGHT TO FILE PETITION
Notice is hereby given that pursuant to Ordinance Number 2005- adopted
January 25, 2005, the United City of Yorkville, Kendall County, Illinois (the "City"), intends to
issue one or more series of its General Obligation Bonds (Alternate Revenue Source) (the
"Bonds "), being general obligation bonds payable from the hereinafter identified revenue
sources, in an aggregate principal amount not to exceed $4,000,000 and bearing interest per
annum at not to exceed the maximum rate authorized by law at the time the Bonds (or any of
them) are sold, for the purpose of paying certain redevelopment project costs to be incurred in
connection with the redevelopment (the "2005 Redevelopment Project ") of the US Route 34 &
IL Route 47 (Countryside Shopping Center) Tax Increment Financing Redevelopment Project
Area (the "Project Area") to be designated by the City. The revenue sources for the Bonds shall
be (i) the sales taxes received by the City pursuant to the Use Tax Act, the Service Use Tax Act,
the Service Occupation Tax Act, and the Retailer's Occupation Tax Act, each as supplemented
and amended from time to time by the General Assembly of the State of Illinois, and (ii) certain
incremental property taxes to be derived from the Project Area and to be received by the City. If
such revenue sources are insufficient to pay the Bonds, ad valorem property taxes upon all
taxable property in the City without limitation as to rate or amount are authorized to be extended
to pay the principal of and interest on the Bonds. A complete copy of said Ordinance
accompanies this notice.
Notice is hereby further given that if a petition signed by 455 or more electors of the City
(the same being equal to the greater of (i) 7.5% of the number of registered voters of the City or
(ii) 200 of those registered voters or 15% of the registered voters, whichever is less), requesting
that the question of undertaking the 2005 Redevelopment Project and the issuance of the Bonds
therefor (a "Petition") is submitted to the City Clerk within 30 days after the date of publication
of this notice the question of undertaking the 2005 Redevelopment Project as provided in said
Ordinance and the issuance of the Bonds therefor shall be submitted to the electors of the City at
the general primary election to be held on March 21, 2006. The Circuit Court may declare that
an emergency referendum should be held prior to said election date pursuant to the provisions of
Section 2A -1.4 of the Election Code of the State of Illinois, as amended. A form of petition for
such purpose is available from the office of the City Clerk.
By order of the City Council of the United City of Yorkville, Kendall County, Illinois.
Dated this 25th day of January, 2005.
/s/ Jacauelvn Milschewski
City Clerk, United City of
Yorkville, Kendall County, Illinois