Ordinance 2008-107 i
STATE OF ILLINOIS
Ordinance No. �� 1 O 'I COUNTY OF KENDALL
FILED -
ORDINANCE ABATING SPECIAL SERVICE AREA TAXES DEC 19 2008
FOR SPECIAL SERVICE AREA NUMBER 2004 -104
CENTRAL GRANDE RESERVE AND � ^^^^ , � � COUNTY CLERK
APPROVING THE AMENDED SPECIAL TAX ROL &� ✓ KENDALL COUNTY
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. 2004 -61 on October
26, 2004 (the "Bond Ordinance ") which: (i) provided for the issuance of Special Service Area
Number 2004 -104 Central Grande Reserve Special Tax Bonds, Series 2004 (MPI Grande
Reserve Project) (the "Bonds "), of the United City of Yorkville, for the purpose of paying for the
costs of certain improvements benefiting the Special Service Area Number 2004 -104 Central
Grande Reserve (the "Special Service Area "); and (ii) provided for the levy of Special Taxes
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 -104 Special Tax
Roll and Report (the "Special Tax Report") prepared by David Taussig & Associates, Inc. (the
"Consultant').
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(b) Pursuant to the Special Tax Report, the Consultant of the City has
determined that the Special Tax Requirement for 2008 for the Bonds is $767,976.52 and the
2008 Levy for Special Taxes is $767,976.52.
Section 2. Of the $2,440,334 of Special Taxes levied for calendar year 2008 pursuant
to Section 6 of the Bond Ordinance $1,672,357.48 of such Special Tax is hereby abated resulting
in a 2008 calendar year levy of $767,976.52.
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 -104 Amended Special Tax Roll and Explanation of the
Methodology to Amend the Special Tax Roll for Calendar Year 2008 prepared by David
Taussig & Associates, Inc. for the Special Service Area dated November 25, 2008 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.
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CH12_799742.2
PASSED by the City Council of the City this December, 2008.
Voting Aye (list names): \NujF
Voting Nay (list names):
Abstaining (list names):
Absent (list names):
City Clerk
SIGNED by the Mayor this December q 2008.
Mayor
ATTEST:
City Jerk
Published in pamphlet form December 2008.
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