Ordinance 2011-57 Ordinance No. 2011
AN ORDINANCE OF THE UNITED CITY OF YORKVILLE, KENDALL COUNTY,
ILLINOIS, DISSOLVING THE FOX INDUSTRIAL PARK TAX INCREMENT
REDEVELOPMENT PROJECT AREA SPECIAL TAX ALLOCATION FUND AND
TERMINATING THE DESIGNATION OF THE FOX INDUSTRIAL PARK TAX
INCREMENT REDEVELOPMENT PROJECT AREA
WHEREAS, the United City of Yorkville (the "City") is a duly organized and validly
existing non home-rule municipality created in accordance with the Constitution of the State of
Illinois of 1970 and the laws of the State; and,
WHEREAS, pursuant Ordinance Nos. 2001-25, 2001-26, and 2001-27 adopted on May
10, 2001, in accordance with the Tax Increment Allocation Redevelopment Act of the State of
Illinois, 65 ILCS 5/11-74.4-1, et seq., as from time to time amended (the "TIF Act"), the City
approved the Fox Industrial Park Tax Increment Redevelopment Project Plan and Project (the
"Plan"), for a specific area qualifying as a redevelopment project area under the TIF Act (the
"Project Area"), and adopted tax increment financing for the purpose of implementing the Plan
for the Project Area; and,
WHEREAS, the Corporate Authorities have heretofore and hereby expressly determined
that it is desirable and in the best interests of the City and the Taxing Districts that the Fox
Industrial Park Special Tax Allocation Fund be dissolved and the Project Area be terminated;
and,
to
WHEREAS, the City has approved Ordinance NoJ�011 adopted /O,aS--ll, entitled
"AN ORDINANCE OF THE UNITED CITY OF YORKVILLE,
KENDALL COUNTY, ILLINOIS, AUTHORIZING PAYMENT OF
REDEVELOPMENT PROJECT COSTS AND DISTRIBUTION OF
SURPLUS FROM THE SPECIAL TAX ALLOCATION FUND OF
THE CITY'S FOX INDUSTRIAL PARK REDEVELOP . OF ILLINOIS
PROJECT AREA" COUNTY OF KENDALL
- F=ILE=D -
1 NOV F 8 20111
, COUNTY CLERK
IVIX -ut'_ KENDALL COUNTY.'
for payment of pending redevelopment project costs, debt service costs and then the distribution
of all remaining surplus funds in the Fox Industrial Park Special Tax Allocation Fund.
NOW, THEREFORE BE IT ORDAINED by the City Council of the United City of
Yorkville, Kendall County, Illinois, as follows:
Section 1. The Incorporation of Preambles. The Corporate Authorities hereby find that
all of the recitals contained in the preambles to this Ordinance are true and correct and do hereby
incorporate them into this Ordinance by this reference.
Section 2. Special Tax Allocation Fund Dissolved. The Fox Industrial Park Tax
Increment Redevelopment Project Area Special Tax Allocation Fund is hereby dissolved. All
surplus funds remaining in the Special Tax Allocation Fund shall be distributed by being paid by
the City Treasurer to the County Collector who shall immediately thereafter pay said funds to the
Taxing Districts in the same manner and proportion as the most recent distribution by the County
Collector to the Taxing Districts of real property taxes from real property in the Project Area.
Section 3. Designation of Project Area Terminated. As of December 31, 2011, the
designation of the Project Area shall be deemed to be terminated.
Section 4. Repealer. All ordinances, resolutions, orders or parts thereof, in conflict with
the provisions of this Ordinance be and are hereby repealed.
Section S. This Ordinance shall be in full force and effect upon its passage and approval,
as provided by law.
Passed by the City Council of the United City of Yorkville, Kendall County, Illinois this
Q-5--day of C7r, v,/ 1� , A.D. 2011.
CITY CLERK
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ROSE ANN SPEARS DIANE TEELING
Y
t ti(
GEORGE GILSON JR. JACKIE MILSCHEWSKI 11
l
CARLO COLOSIMO MARTY MUNNS
CHRIS FUNKHOUSER �_ LARRY KOT
Approved by me, as Mayor of the United City of Yorkville, Kendall County, Illinois, this
C day of 0 Lfk 2011.
MAYO
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