Ordinance 2005-075 IN THE CITY COUNCIL OF THE UNITED CITY OF YORKVILLE, ILLINOIS
ORDINANCE NO.2005- IS
AN ORDINANCE authorizing the issuance of General
Obligation Bonds (Alternate Revenue Source) Series 2005 of
the United City of Yorkville, Kendall County, Illinois, in an
aggregate principal amount not to exceed $12,000,000 for the
purpose of financing certain sanitary and sewer infrastructure
improvements within the City
BE IT ORDAINED BY THE CITY COUNCIL OF THE UNITED CITY OF
YORKVILLE, KENDALL COUNTY, ILLINOIS, AS FOLLOWS:
WHEREAS, the City Council (the "Corporate Authorities ") of the United City of
Yorkville, Kendall County, Illinois (the "City "), has determined that it is advisable, necessary
and in the best interests of the City that it construct certain sanitary and sewer infrastructure
improvements within the City (the "Project "); and
WHEREAS, the estimated cost of making such improvements and paying costs in
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connection therewith is not greater than $12,000,000, and there are insufficient funds on hand
and lawfully available to provide the funds for such Project; and
V*9UREAS, amounts needed to finance the Project and to pay costs incurred in
connection with issuing bonds for such purpose are expected to be paid for from proceeds of
alternate bonds, being general obligation bonds payable from (i) the sewer connection fees
derived from all property located south of Galena Road plus the property known as Bristol Bay
which is located north of Galena Road and east of Route 47 (the "Bristol Bay Property ") all
within the City and which will connect to the Rob Roy Creek Interceptor and (ii) the
Infrastructure Participation Fees paid to the Yorkville- Bristol Sanitary District ( "YBSD ") and
further distributed to the City pursuant to that certain agreement entitled "Agreement Between
Yorkville- Bristol Sanitary District and United City of Yorkville Rob Roy Creek Interceptor" (the
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"Intergovernmental Agreement ") dated June 14, 2004 between the City and YBSD, for
properties located south of Galena Road plus the Bristol Bay Property all within the City and
which will connect to the Rob Roy Creek Interceptor; as authorized to be issued at this time
pursuant to the Local Government Debt Reform Act of the State of Illinois, as amended (the
"Act "); and
WIIEREAS, pursuant to and in accordance with the provisions of the Act, the City is
authorized to issue its Alternate Bonds in the aggregate principal amount of not to exceed
$12,000,000 for the purpose of providing funds to finance the Project and to pay the costs of
issuing such Bonds:
BE IT ORDAINED BY THE CITY COUNCIL OF THE UNITED CITY OF
YORKVILLE, ILLINOIS, as follows:
Section 1. Incorporation of Preambles. The Corporate Authorities hereby find that
all of the recitals contained in the preambles to this ordinance are full, true and correct and do
incorporate them and the terms defined therein into this ordinance by this reference.
Section 2. Determination To Issue Bonds. It is necessary and in the best interests
of the City to accomplish the financing of the Project and that for the purpose of paying the costs
of issuance in connection therewith, there are hereby authorized to be issued and sold the
Alternate Bonds of the City in an aggregate principal amount not to exceed $12,000,000. It is
hereby expressed to be the desire of the City to issue Alternate Bonds in an amount less than
$12,000,000.
Section 3. Publication. This ordinance, together with a notice in the statutory form
as attached hereto, and appropriately completed, shall be published once within ten (10) days
after passage hereof by the Corporate Authorities in the Kendall Countv Record the same being a
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newspaper of general circulation in the City, and if no petition, signed by electors numbering
seven and one half percent (7 -1/2 %) of the registered voters in the City (Le., 455) and asking that
the issuance of the Alternate Bonds be submitted to referendum is filed with the City Clerk
within thirty (30) days after the date of the publication of this ordinance and said notice, then the
Alternate Bonds shall be authorized to be issued.
Section 4. Additional Ordinances. If no petition meeting the requirements of
applicable law is filed during the petition period hereinabove referred to, then the Corporate
Authorities intend to adopt additional ordinances or proceedings supplementing or amending this
ordinance providing for the issuance and sale of the Alternate Bonds, prescribing all the details
of the Alternate Bonds, so long as the maximum amount of the Alternate Bonds as set forth in
this ordinance is not exceeded and there is no material change in the purposes described herein.
Such additional ordinances or proceedings shall in all instances become effective in accordance
with applicable law. This ordinance, together with such additional ordinances or proceedings,
shall constitute complete authority for the issuance of the Alternate Bonds under applicable law.
Section 5. Bond Counsel. The Corporate Authorities hereby appoint Foley &
Lardner LLP as its bond counsel for the Alternate Bonds.
Section 6. Severabilitv,. 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.
Section 7. 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.
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Section 8. Effectiveness. This ordinance is effective upon its passage and approval.
PASSED BY THE CITY COUNCIL OF THE UNITED CITY OF YORKVILLE,
KENDALL COUNTY, ILLINOIS this September 13, 2005.
PAUL JAMES v. MARTY MUNNS
JASON LESLIE WANDA OHARE
VALERIE BURD ROSE SPEARS
DEAN WOLFER JOSEPH BESCO
Mayor
ATTEST:
c �erk�
[SEAL]
Published in pamphlet form , 2005.
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NOTICE OF INTENT TO ISSUE BONDS
AND RIGHT TO FILE PETITION
Notice is hereby given that pursuant to Ordinance No. 2005- �Sadopted September 13,
2005 the Ordinance the United City of Yorkville Kendall County, the Ci
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intends to issue its General Obligation Bonds (Alternate Revenue Source) (the `Bonds "), in an
aggregate principal amount not to exceed $12,000,000, and bearing interest per annuin at not to
exceed the maximum rate authorized by law at the time the Bonds are sold, for the purpose of
financing certain sanitary sewer infrastructure improvements within the City and paying costs
associated therewith. The Bonds shall be alternate bonds, being general obligation bonds
payable from (i) the sewer connection fees derived from all property located south of Galena
Road plus the property known as Bristol Bay which is located north of Galena Road and east of
Route 47 (the "Bristol Bay Property ") all within the City and which will connect to the Rob Roy
Creek Interceptor and (ii) the Infrastructure Participation Fees paid to the Yorkville- Bristol
Sanitary District ( "YBSD ") and further distributed to the City pursuant to that certain agreement
entitled "Agreement Between Yorkville- Bristol Sanitary District and United City of Yorkville
Rob Roy Creek Interceptor" (the "Intergovernmental Agreement ") dated June 14, 2004 between
the City and YBSD, for properties located south of Galena Road plus the Bristol Bay Property all
within the City; and which will connect to the Rob Roy Creek Interceptor. The Bonds are
authorized by the Local Government Debt Reform Act of the State of Illinois, as amended. A
complete copy of the Ordinance follows this notice.
Notice is hereby further given that if a petition signed by 455 or more electors of the City
(being equal to 7 -1/2% of the registered voters of the City) asking that the issuance of the Bonds
be submitted to referendum is filed with the City Clerk within 30 days after the date of
publication of this notice, the question of the issuance of the Bonds shall be submitted to the
electors of the City at the nonpartisan 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.
By order of the City Council of the United City of Yorkville, Kendall County, Illinois.
DATED this 22 day of September, 2005.
City Clerk
United City of Yorkville
Kendall County, Illinois
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