Loading...
HomeMy WebLinkAboutOrdinance #1180/ a , ~ NO. 1180 AN ORDINANCE ADOPTING TAX INCREMENT FINANCING WHEREAS, the City of Canton, Illinois desires to adopt tax increment financing pursuant to the Tax Increment Allocation Redevelopment Act, I.R.S. Ch. hereinafter referred to as the 24 par. 11-74.4, as amended, "Act"; and, WHEREAS, the City of Canton has adopted Area No. 4-B Redevelopment Plan and Project, and designated an Area No. 4-B Redevelopment Project Area pursuant to the provisions of the Act, and has otherwise complied with all other conditions precedent required by the Act. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CANTON, ILLINOIS, that: 1. Tax increment financing is hereby adopted in respect to f /~. Area No. 4-B Redevelopment Plan and Project approved and adopted pursuant to Ordinance No. ~~~~ in the City of Canton in respect to the following described Area No. 4-B Redevelopment Project Area: (SEE LEGAL DESCRIPTIONS HERETO ATTACHED) 2. REAL PROPERTY TAXES: After the total equalized assessed valuation of taxable real property in Area No. 4-B Redevelopment Project Area exceeds the total initial equalized assessed value of all taxable real property in Area No. 4-B Redevelopment Project Area, the ad valorem taxes, if any, arising from the levies upon real property in Area No. 4-B Redevelopment Project Area by taxing districts and the rates determined in the manner provided in Section 11-74.4-9tb) of the Act each year after the effective date of this Ordinance until the Area No. 4-B Redevelopment Project costs and obligations issued in respect thereto have been paid shall be divided as follows: a. That portion of taxes levied upon each taxable lot, block, tract or parcel of real property which is attributable to the lower of the existing equalized assessed value or the initial equalized assessed value of each such taxable lot, block, tract or parcel of real property in the Area No. 4-B Redevelopment Project Area shall be allocated to and when collected shall be paid by the County Collector to the respective affected taxing districts in the manner required by law in the absence of the adoption of tax increment allocation financing. b. That portion, if any, of such taxes which is attributable to the increase in the current equalized assessed valuation of each lot, block tract or parcel of real property in the redevelopment project area over and above the lower of the existing equalized assessed value or the initial equalized assessed value of each property in the Area No. 4-B Redevelopment Project Area shall be allocated to and when collected shall be paid to the City Treasurer who shall deposit said funds in a special fund called "the Special Tax Allocation Fund for Area No. 4-B Redevelopment Project Area" of the City for the purpose of paying the Area No. 4-B Redevelopment Project costs and obligations incurred in the payment thereof, pursuant to such appropriations which may be subsequently made. 3. UTILITY TAXES: 3a. The Department of Revenue, is hereby authorized to annually certify and cause to be paid to the City for deposit in Special tax allocation fund for Area 4-B an amount equal to the aggregate increase in State electric and gas tax charges imposed on owners and tenants of properties located within the redevelopment project area under Section 9-222 of The Public Utilities Act, for as long as the redevelopment project area exists, over and above the aggregate amount of such charges, as certified by the Illinois Department of Revenue and paid by owners and tenants of properties located within the redevelopment project area during the base year which shall be the calendar year immediately prior to the year of the adoption of the ordinance authorizing tax increment allocation financing. Provided that for purposes of this Section no amendments to the redevelopment project area shall be taken into account if such amendments are adopted by the City of Canton after January 1, 1988. -2- 3b. That the City's share of any or all of the revenues set forth in the foregoing paragraph 3a are hereby allocated to and pledged to "the Special Tax Allocation Fund for Area No. 4-B Redevelopment Project Area" of the City for the purpose of paying the Area No. 4-B Redevelopment Project costs and obligations incurred in the payment thereof. 4. The foregoing pledge of funds in the special tax allocation fund shall be subject to distribution of "surplus" funds to the taxing districts and to the Illinois Department of Revenue of moneys not required for payment and securing of the obligations and redevelopment project costs and such excess funds shall be calculated annually and deemed to be "surplus" funds. In the event the City only pledges a portion of the funds in the special tax allocation fund for the payment of redevelopment project costs or obligations, any such funds remaining in the special tax allocation fund after complying with the requirements of the pledge, shall also be calculated annually and deemed "surplus" funds. All surplus funds in the special tax allocation fund shall be distributed annually within 180 days after the close of the City's fiscal year by being paid by the City Treasurer to the County Collector, to the Department of Revenue and to the City in direct proportion to the tax incremental revenue received as a result of an increase in the equalized assessed value of property in the redevelopment project area, tax incremental revenue received from the State and tax incremental revenue received from the City, but not to exceed as to each such source the total incremental revenue received from that source. 5. All ordinances and parts of ordinances in conflict herewith are hereby repealed. 6. This Ordinance shall be in full force and effect immediately upon its passage by the City Council of the City of Canton, Fulton County, Illinois, and approval by the Mayor thereof. 7. One certified copy of this Ordinance shall be filed by the -3- City Clerk with the Fulton County Clerk and one certified copy of this Ordinance shall be filed by the City Clerk with the Illinois Department of Commerce and Community Affairs, and, also, with the Illinois Department of Revenue, not later than 30 days after the effective date of this Ordinance. PASSED by the City Council of the City of Canton, Fulton County, Illinois at a Special meeting this 31st day of December, 1987 upon a roll call vote as follows: AYES: Aldermen Chapman, May, Bohler, Meade, Sarff, Steck, Zilly, Kovachevich. NAYS: None. ABSENT: None. APPROVED: ~ ,? Dona d E. Edwards, Mayor. ~ ATTEST: ~~:,~ ncy Whit s, City erk. ~ -4- AREA 4-B BOUNDARY Commencing at the intersection of the West right-of-way line of North Second Avenue and the South right-of-way line of East Chestnut Street; thence, Easterly along the South right-of-way line of East Chestnut Street to the East line of Lot 2 in Barne's and Jones Addition; thence, South along the East line of Lots 2 and 3 in Barne's Jones Addition to the South line of Lot 3 in said Addition; thence, Easterly along the South line of Lot 3 in said Addition as extended to the West line of Lot 19 of said Addition; thence South along the West line of Lot 19 in said Addition to the South lvt line of Lot 19 in said Addition; thence, Easterly along the South lot lines of Lots 19 and 18 in said Addition to the West line of Lot 15 in said Addition; thence, North along the West line of Lot 15 in said Addition to a point 50 feet South of the North line of said Lot 15; thence, East along a line parallel to the North line of Lot 15 and 50 feet South thereof to the East lot line of Lot 15 in said Addition;' thence, East along the line 50 feet South of and parallel to the North line of said Lot 15 as extended Easterly to the East right-of -way line of North Third Avenue; thence, South along the East right-of-way line of North Third Avenue to the intersection of the East right-of-way line of North • ~:....:; .....,.:..Third Avenue and the North right-of-way .line of .East.._Elm Street.;.. ,; ... thence, in~ an Easterly direction along the North right-of-way line of East Elm Street to the West lot line of Lot 25 in Barne's and Jones Addition; thence, North along the West lot line of Lots 26, , 29 and 30 in said Addition to the North line of Lot 30; thence, East along the North line of Lot 30 to the West line of Lot 36 in earne's and Jones Addition; thence, along the West line of §aid Lot 36, as extended, to the North right-of-way line of East Chestnut Street; thence, East along the North right-of-way line of East Chestnut Street to its intersection with the East right-of -way line of North Fifth Avenue; thence, South along the East right-of-way line of North Fifth Avenue to its intersection with the South right-of -way line of East Elm Street; thence, West along the South right-of-way line of East Elm Street to the East lot line of lot 44 in Barne's and Jones Addition; thence, South along the East line of Lot 44 in Harne's and Jones Addition to the Southeast corner of said Lot; thence, West along the South line of said Lot `44 to the Southwest corner of said Lot being also the East right-of-way line of North Fourth Avenue; thence, South along the`East right-of-way line of North Fourth Avenue to the South right-of-way line of East Pine Street; thence,"'East ahonq the South right-of-way lY~ne of -East , == Pine Street to the East line of Lot 57 in Barne's and Jones Addition; thence, South along the East line of said Lot 57 to the North line of Lot 58 in said Addition; thence, East along the North line of Lot 58 in said Addition to the East line of said Lot 58; .~:.:.:,~~... ;....:,~:.>;,thence, South. along .the East .lines. of Lots. 58 and. 61 ,in said- ,._,~....:.,.:~:.,,;,,~;. Addition to the Southeast corner of Lot 61; thence, West along the South line of Lot 61 to the Southwest corner of Lot 61 in said Addition, being also the East right-of-way line of South Fourth Avenue; thence, South along the East right-of-way line of South Fourth Avenue to its intersection with the North right-of-way line of East Oak Street; thence, West along the North line of East Oak Street to its intersection with the West right-of-way line of South Third Avenue; thence, North along the West right-of-way line of South Third Avenue to a point 40 feet South of the Northeast corner of Lot 166 in Wright's Addition; thence, Westerly along a line parallel to and 40 feet South of the North line of said Lot 166, as extended, to the East line of Lot 167 in Wright's Addition; thence, South along the East line of said Lot 167 to the South line of said Lot 167; thence, West along the South lines of Lots 167,168 and 169, all as extended, to the East right-of-way line of South First Avenue; thence, South `along the East right-of-way line of South' "' First Avenue to the South line of Lot 202 in Wright's Addition; thence, West along the South line of said Lot 202, as extended, to the Southeast corner of Lot 200 in Wright's Addition; thence, North along 'the-East lines of hots 20 o-; 192--and--377 to a point on the ~r~ East line of Lot 171 ten feet North of the South line of said Lot 171; thence, West along a line ten feet North of and parallel to the South line of said Lot 171, as extended, to the West right-of -way line of South Main Street; thence, North along the .. .. •: ~ West right-of-way -:line of- south Main. Street ,to its -intersection ..;.....;-,.,,:...... with the South right-of -way line of Railroad Street; thence, Westerly along the South line of Railroad Street to the confluence of the South right-of-way line of West Railroad Street with the South right-of-way line of the T.P. & W Railroad right-of-way as the same crosses the Northeast Quarter of Section 34, Township 7 North, Range Four East of the Fourth Principal Meridian, Fulton County, Illinois to the West corporate limits of the City of Canton at or near the intersection of said railroad right-of-way and Big Creek; thence, in a North to Northeasterly direction along the West corporate limits of the City of Canton to the North right-of-way line of said T.P. & W Railroad right-of-way; thence, Easterly along the North right-of -way line of the T.P. & W right-of -way as the same crosses th+a Northwest anri Northeast Quarters of Section 34, Township 7 North, Range 4 East of the Fourth Principal Meridian, Fulton County, Illinois to the intersection of said North right-of -way line with the West right-of-way line of the alley immediately South of Van Buren Court, being also the Southeast ,. ... corner of Lot 142 in Wright's Addition; thence, North along the "~ ~' East lines of Lots 142, 131, 119, 108 and 97 to the North line of Lot 97 in Wright's Addition; thence, East along the North line of , Lot 97, as extended Easterly, to the North line and across the ;... North line of Lot 96 in said Addition to the Northeast corner of Lot 96 in said Addition, being also the West right-of-way line of North Second Avenue; thence, North along the West line of South Second Avenue to its intersection with the South right-of-way line of East Maple Street; thence, West along the South right-of-way '~ =~~~ ~ ° line of East-Maple Street- to its intersection- with- -the West ~ ~~~°:~ ~° ~ ~~•~ • ~~ right-of-way line of the alley immediately South of Van Buren Court; thence, North along the West line of said alley and Van Buren Court to the North line of Lot 74 in Nathan Jones 2nd Addition as extended Westerly to the West right-of-way line of Van Buren Court; thence, East along the North line of Lot 74 of Nathan Jones 2nd Addition, as extended, to the Northeast corner of Lot 74 in said Addition, being also the West right-of-way line of North Second Avenue; thence, North along the West right-of-way line of North Second Avenue to its intersection with the North right-of-way line of East Pine Street; thence, West along the North right-of -way line of East Pine Street to its intersection with the East right-of -way line of Van Buren Court; thence, North along the East right-of -way line of Van Buren Court to its intersection with the North line of Lot 32 in Nathan Jones 2nd Addition; thence, East along the North line of Lot .32 in said Addition to the West right-of-way-line cf South Second Avenue; thence, North along the West right-of-way line of South and North Second Avenue to its intersection with the South right-of -way line of East Chestnut Street, being also the point of beginning, all situated in the City .. .. . .. , :.. .. of Canton, Fulton County, Illinois. - AREA 4-B LEGAL DESCRIPTION Lots 1, 2, 3, 4, 5, 30, 31, 32, 33, 34, 53, 67, 68, 69, 70, 114, 115, 116, I34, WRIGHT'S ADDITION t~ Fulton and State of I2, 13, 14, 15, 16, 17, 18, 19, 20, 21, 28, 29, 35, 36, 37, 44, 45, 46, 47, 48, 49, 50, 51, 52, 71, 72, 89, 90, 91, 92, 93, 94, 111, 112, 113, 135, 136, 137, 138, 139, 232 and 235; all in ~ the City of Canton, situated in the County of Illinois. 8 feet off the South side of Lot 4; North 33 feet of West 99 feet of Lot 5; the South Half of Lot 5; Lots 6, 10, li, 12, 13 and 14; Lot 15, EXCEPT the North 50 feet; Lots 44, 57, 58, 6I, 154, 155, 156 and 157; all in BARNES AND JONES ADDITION to the City of Canton, situated in the County of Fulton and State of Illinois. Blocks 1, 2, 3 and 4 in PAALIN AND QRENDO~tFF CO..SUBDIVISION of part of Barnes and Jones Addition to the City of Canton, situated in the County of Fulton and State of Illinois. Blocks 5 and 6 in PARLIN AND ORENDORFF CO. SECOND SUBDIVISION of part of Barnes and Jones Addition to the City of Canton,.. situated in the County of Fulton and State of Illinois. The East Half of Lot 69, EXCEPT the North 40 feet; the East Balf of Lot. 70; .the East Half of ,Lot 71; .the East Half of,Lot 72;.,. ~,;:. the South 3T 'feet of Lot 73; the East Half ~of Lot 73, EXCEPT- the South 37 feet thereof; Lots 74 and 75; all in JONES SECOND ADDITION to the City of Canton, situated in the County of Fulton and State of Illinois. Part of the Southeast Quarter of Section 27, Township 7 North, Range 4 East of the Fourth Principal Meridian, Fulton County, Illinois.,. lying ..South of Lot. 75- in JONES: SECOND .ADDITION, to~ the 4 i "City of Canton lying North `of the Section line dividing the Southeast Quarter of Section 27 and the Northeast Quarter of Section 34, in Township 7 North, Range 4 East of the Fourth Principal. Meridian, situated in Fulton County, Illinois.. That parcel of land lying South of Lot 70 in JONES SECOND ADDITION to Canton, Fulton County, Illinois and North of the Section line dividing the Southeast Quarter of Section 27 and the Northeas t Quarter of Section 34, Canton Township, otherwise described as: A rectangular strip of land about 16.5 feet North and South and 82.5 feet East and West, adjoining the South line of said Lot 70 in Jones Second Addition to the Ci y of Canton, ,Fulton County, Illinois. The North Half of vacated East Walnut Street from the East line of South Second Avenue to the West line of South Fourth Avenue in the City of Canton. The South Half of vacated East Walnut Street from the East line of South Second Avenue to the West line of the Burlington Northern (formerly C.B. & Q) Railroad right of way in the City of Canton. The vacated alley lying West of Lots 3, 14, I9, 30, 35, 46 and " 51 and East of Lots 4, 13, 20, 29, 36, 45 and 52 in WRIGHT'S ADDITION to the City of Canton. Vacated South Third Avenue lying South of East Walnut Street and North of East Maple Street in the City of Canton. The vacated alley lying West of Lots 1, 16, 17, 32, 33, 48 and 49 and East of Lots 2, 15, 18, 31, 34, 47 and 50 in WRIGHT'S ADDITION to the City of Canton. Vacated Maple Street from the center line of the main track of the Burlington Northern (formerly C.B. & Q) Railroad West to a line extended from the Southwest. corner of Lot Sl to.the Northwest corner of Lot 67 in WRIGHT'S ADDITION to the City of Canton. The vacated North 18 feet of East Maple Street from the East line of Second Avenue to the Southwest corner of Lot 51 in WRIGHT'S ADDITION to the City of Canton. . Vacated Fourth Avenue from the South line of East Elm Street to the centerline of East Walnut Street and being 8.5 feet West of . the Center. .line of the main track of the Burlington Northern. t formerly C.B. & Q) Railroad in the City of Canton. The vacated alley lying East of Lots 68, 71, 90, 93, 112, 115, 1.35 and 138 and West of Lots 69, 70, 91, 92, 113, 114, 136 and 137 in WRIGHT'S ADDITION to the City of Canton. The vacated East 17 feet of North Second Avenue from the South . -line of :.East _Elm. Street ,to .the. South line of ..East -Pine .Street in; - the City of Canton. Vacated Second Avenue from the South line of East Pine Street to the North line of East Maple Street in the. City of Canton. Vacated East Walnut Street from the West line of Second Avenue to the East line of Van Buren Court in the City of Canton. Vacated South Third Avenue from the South line of East Maple Street to the North line of Railroad Street in the City of Canton. EXCEPT THAT PART described as follows: Commencing at the intersection of the South right-of-way line of East Pine Street and the West right-of -way line of South Second Avenue; thence Easterly along the extended South right-of-way line of East Pine Street, 49.00 feet; thence Southerly along a line parallel to the West right-of-way line of Second Avenue to a point on the extended North right-of-way ~ " line of East Maple Street; thence Westerly 49,00 feet to a point of intersection of the North right-of-way line of Maple Street and the West right-of-way line of South Second Avenue; thence Northerly along the West right-of-way line of Second Avenue to the South right-of-way line of Walnut Street; thence Westerly along the South. rightrof-way line of Walnut Street to a point of intersection with the extended East right-of-way line of Van Buren Court; thence Northerly along the extended right-of-way of Van Buren Court to the North right-of-way Iine of Walnut Street; thence Easterly along the North right-of -way line of Walnut Street to a point on the West right-of-way line of South Second Avenue; thence Northerly along the West right-of-way Iine of South Second Avenue to a point on the South rightrof-way line of East Pine; said point being the point of beginning. Lots 26, 2.7 ,' 28, 29, 3U, 36~, 37, 38, 39, 40, 41, 42 and 43 in Barne's and Jone's Addition. Outlot 18 in Harne's and Jone's Addition. ,,A11. situated in .the.;. City of Canton,. Fulton County. Illinois . . ~. '~ , a..'T`• ,~ 'wr .,Y;!yy ~.,,~ ''.{ a -': .: ,~.. '. ~;w .~ ~ ~ ti'ri ,r-i~ - 2 - ~tv~ •- ~ ~^' t . ri'a'Fti r.. ,::i ftn to `.'Y~fti+~+~'•.~n',..+<' ~!lrq~.1,s' .. : s~.«. , tt. Lt ,'i .~ .t ~i~ s'~ ~?wr R.'a' ~.~w ~.t s.~ ir., .+.'. *•Y, ~.i:' t`. t. 'a ~ b •-or ri • ^- ', ~ 4 CERTIFICATE STATE CF II.LII~IS, ) SS. CO[1N1Y ~ FULT~N. ) I, Nancy Whites, City Clerk of the City of Canton, in the County.of Fulton and State of Illinois, cb hereby oextify that as the City Clerk of the City of Canton, I mm the keeper of record, minutes, ardtnances and other books, records and papers of said City, and that the foregoing ~.s a true and correct co?ay of : . ORDI"DANCE N~. 1180 AN ORDINANCE ADOPTING TAX INCRE"1ENT FI^I,4NCING adapted by the City Cotincil of said City and aplproved by the Mayor' thereof on the 31st day of December 19 87 W'ITI~SS my hand and the Corporate Seal of the City of Canton, Illinois this `'7th day of January 19 88 tes ty ~~~ .~~~ ~~-. ' 9 R ~ ~ ~-~ II.A ~~.°, r,,,~:~1 ! ,'rT !4 '= t, ~J ,vim t[ k'J ...{~. Z ~ ,~ V' ~ 1 A i.. t t f~ (SEAL) ORDINANCE NO. 1180 AN ORDINANCE ADOPTING TAX INCRBl~NT FINANCING WHEREAS, the City of Canton, Illinois desires to adopt tax increment financing pursuant to the Tax Increment Allocation Redevelopment Act, I.R.S. Ch. 24 par. 11-74.4, as amended, hereinafter referred to as the "Act"; and, WHEREAS, the City of Canton has adopted Area No. 4-B Redevelopment Plan and Project, and designated an Area No. 4-B Redevelopment Project Area pursuant to the provisions of the Act, and has otherwise complied with all other conditions precedent required by the Act. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CANTON, ILLINOIS, that: 1. Tax increment financing is hereby adopted in respect to Area No. 4-B Redevelopment Plan and Project approved and adopted pursuant to Ordinance No. Lim- in the City of Canton in respect to the following described Area No. 4-B Redevelopment Project Area: (SEE LEGAL DESCRIPTIONS HER8T0 ATTAC®) 2. REAL PROPERTY TAXES: After the total equalized assessed valuation of taxable real property in Area No. 4-B Redevelopment Project Area exceeds the total initial equalized assessed value of all taxable real property in Area No. 4-B Redevelopment Project Area, the ad valorem taxes, if any, arising from the levies upon real property in Area No. 4-B Redevelopment Project Area by taxing districts and the rates determined in the manner provided in Section 11-74.4-9(b) of the Act each year after the effective date of this Ordinance until the Area No. 4-B Redevelopment Project costs and obligations issued in respect thereto have been paid shall be divided as follows: a. That portion of taxes levied upon each taxable lot, block, tract or parcel of real property which is attributable to the lower of the existing equalized assessed value or the initial equalized assessed value of each such taxable lot, block, tract or parcel of real property in the Area No. 4-B U~ ~ P~ ~ ~s +~ ~ ~ a ~~ y9~ Redevelopment Project Area shall be allocated to and when •- collected shall be paid by the County Collector to the respective affected taxing districts in the manner required by law in the absence of the adoption of tax increment allocation financing. b. That portion, if any, of such taxes which is attributable to the increase in the current equalized assessed valuation of each lot, block tract or parcel of real property in the redevelopment project area over and above the lower of the existing equalized assessed value or the initial equalized assessed value of each property in the Area No. 4-B Redevelopment Project Area shall be allocated to and when collected shall be paid to the City Treasurer who shall deposit said funds in a special fund called "the Special Tax Allocation Fund for Area No. 4-B Redevelopment Project Area" of the City for the purpose of paying the Area No. 4-B Redevelopment Project costs and obligations incurred in the payment thereof, pursuant to such appropriations which may be subsequently made. 3. UTILITY TAXES: 3a. The Department of Revenue, is hereby authorized to annually certify and cause to be paid to the City for deposit in Special tax allocation fund for Area 4-B an amount equal to the aggregate increase in State electric and gas tax charges imposed on owners and tenants of properties located within the redevelopment project area under Section 9-222 of The Public Utilities Act, for as long as the redevelopment project area exists, over and above the aggregate amount of such charges, as certified by the Illinois Department of Revenue and paid by owners and tenants of properties located within the redevelopment project area during the base year which shall be the calendar year immediately prior to the year of the adoption of the ordinance authorizing tax increment allocation financing. Provided that for purposes of this Section no amendments to the redevelopment project area shall be taken into account if such amendments are adopted by the City of Canton after January 1, 1988. -2- 3b. That the City's share of any or all of the revenues set forth in the foregoing paragraph 3a are hereby allocated to and pledged to "the Special Tax Allocation Fund for Area No. 4-B Redevelopment Project Area" of the City for the purpose of paying the Area No. 4-B Redevelopment Project costs and obligations incurred in the payment thereof. 4. The foregoing pledge of funds in the special tax allocation fund shall be subject to distribution of "surplus" funds to the taxing districts and to the Illinois Department of Revenue of moneys not required for payment and securing of the obligations and redevelopment project costs and such excess funds shall be calculated annually and deemed to be "surplus" funds. In the event the City only pledges a portion of the funds in the special tax allocation fund for the payment of redevelopment project costs or obligations, any such funds remaining in the special tax allocation fund after complying with the requirements of the pledge, shall also be calculated annually and deemed "surplus" funds. All surplus funds in the special tax allocation fund shall be distributed annually within 180 days after the close of the City's fiscal year by being paid by the City Treasurer to the County Collector, to the Department of Revenue and to the City in direct proportion to the tax incremental revenue received as a result of an increase in the equalized assessed value of property in the redevelopment project area, tax incremental revenue received from the State and tax incremental revenue received from the City, but not to exceed as to each such source the total incremental revenue received from that source. 5. All ordinances and parts of ordinances in conflict herewith are hereby repealed. 6. This Ordinance shall be in full force and effect immediately upon its passage by the City Council of the City of Canton, Fulton County, Illinois, and approval by the Mayor thereof. 7. One certified copy of this Ordinance shall be filed by the -3- ~~ a P~ X197 ~~ ~ P y9~ ~( City Clerk with the Fulton County Clerk and one certified copy of this Ordinance shall be filed by the City Clerk with the Illinois Department of Commerce and Community Affairs, and, also, with the Illinois Department of Revenue, not later than 30 days after the effective date of this Ordinance. PASSED by the City Council of the City of Canton, Fulton County, Illinois at a Special meeting this 31st day of December, 1987 upon a roll call vote as follows: AYES: Aldermen Chapman, May, Bohler, Meade, Sarff, Steck, Zilly, Kovachevich. NAYS: None. ABSENT: None. APPROVED: Dona d E. Edwards, Mayor. ATTEST: ~ ~~~ ncy Whit s, City erk. ~ -4- AREA 4-B BOQNDARY Commencing at the intersection of the West right-of-way line of North Second Avenue and the South right-of -way line of East Chestnut Street; thence, Easterly along the South right-of-way line of East Chestnut Street to the East line of Lot 2 in Barne's and Jones Addition; thence, South along the East line of Lots 2 and 3 in Barne's Jones Addition to the South line of Lot 3 in said Addition; thence, Easterly along the South line of Lot 3 in said Addition as extended to the West line of Lot 19 of said Addition; thence South along the West line of Lot 19 in said Addition to the South lot line of Lot 19 in said Addition; thence, Easterly along the South Iot lines of Lots 19 and 18 in said Addition to the West line of Lot 15 in said Addition; thence, North along the West line of~Lot 15 in said Addition to a point 50 feet South of the North line of ~. said Lot 15= thence, East along a line parallel to the North line of Lot 15 and 50 feet South thereof to the East lot lice of Lot 15 in said Addition; thence, East along the line 5O feet South of and parallel to the North line of said Lot 15 as extended Easterly to the East right-of -way line of North Third Avenue; thence, South along the East right-of-way line of North Third Avenue to the intersection of the East right-of-way line of North -~ , . _.,:.Third Avenue and the North .right-of-way .line of East Elm Street; . ,,,._:.__, thence, in~an Easterly direction along the North right-of-way line of East Elm Street to the West lot line of Lot 25 in Barne's and Jones Addition; thence, North along the West lot lire of Lots 26, 29 and 30 in said Addition to the North line of Lot 30; thence, East along the North line of Lot 30 to the West line of Lot 36 in Harne's and Jones Addition; thence, along the West line of said Lot 36, as extended, to the North right-of-way line of East Chestnut Street; thence, East along the North right-of-way line of East Chestnut Street to its intersection with the East right-of -way line of North Fifth Avenue; thence, South along the East right-of-way line of North Fifth Avenue to its intersection with the South right-of -way line of East Elm Street; thence, West along the South right-of-way line of East Elm Street to the East lot Iine of lot 44 in Barne's and Jones Addition; thence, South along the East line of Lot 44 in Barne's and Jones Addition to the Southeast corner of said Lot; thence, Test along the South line of said Lot 44 to the Southwest corner of said Lot being also the East right-of-way line of North Fourth Avenue; thence, South along the East right-of-way line of North Fourth Avenue to the South right-of-way line of East ` Pine Street; thence," East ahong the South right-of-way line of East ~-- Pine Street to the East line of Lot 57 in Barne's and Jones Addition; thence, South along the East line of said Lot 57 to the North line of Lot 58 in said Addition; thence, East along the North line of Lot 58 in said Addition to the East line of said Lot 58; .~ -::.:,~~...:~: ~.:.:<~_thence, South .along .the East 1 ices of Lots. 58 and. 61 ,in said ..:.:....;~ :, . ~;,._;, Addition to the Southeast corner of Lot 61; thence, West along the South line of Lot 61 to the Southwest corner of Lot 61 in said Addition, being also the East right-of-way line of South Fourth Avenue; thence, South along the East right-of-way line of South Fourth Avenue to its intersection with the North right-of-way line of East Oak Street; thence, West along the North line of East~Oak Street to its intersection with the West right-of-way line of South Third Avenue; thence, North along the West right-of-way line of South Third Avenue to a point 40 feet South of the Northeast corner of Lot 166 in Wright's Addition; thence, Westerly along a line parallel to and 40 feet South of the North line of said Lot 166, as extended, to the East line of Lot 167 in Wright's Addition; thence, South along the East line of said Lot 167 to the South line of said Lot 167; thence, West along the South lines of Lots 167, 168 and 169, all as extended, to the East right-of-way line of South First Avenue; thence, South along the East right-of-way line of South First Avenue to the South line of Lot 202 in Wright's Addition; thence, West along the South line of said Lot 202, as extended, to the Southeast corner of Lot 200 in Wright's Addition; thence, North along the East lines of Lots 200-, 19.2-and~~~77 to a point on~~the East line of Lot 171 ten feet North of the South line of said Lot 171; thence, West along a line ten feet North of and parallel to the South line of said Lot 171, as extended, to the West right-of -way line of South Main Street; thence, North along the :~:~•~-~ •: ~ West right-of-way -.line of south Main. Street to its intersection .;:...:-,.,....._., with the South right-of-way line of Railroad Street; thence, Westerly along the South line of Railroad Street to the confluence of the South right-of-way line of West Railroad Stree*_ with the South right-of-way line of the T.P. ~ W Railroad right-of-way as ~~Q a P~. sod ~~:~ ~ ~~. 5~~ the same crosses the Northeast Quarter of Section 34, Township 7 North, Range Four East of the Fourth Principal Meridian, Fulton County, Illinois to the West corporate limits of the City of Canton at or near the intersection of said railroad right-of-way and Big Creek; thence, in a North to Northeasterly direction along the West corporate limits of the City o; line of said T.P. & W Railroad the North right-of -way line of same crosses tha Northwest and Township 7 North, Range 4 East Fulton County, Illinois to the E Canton to the North right-of -way ., right-of-way; thence, Easterly along the T.P. & W right-of -way as the Northeast Quarter3 of Section 34, of the Fourth Principal Meridian, intersection of said North right-of -way line with the West right-of-way line of the alley immediately South of Van Buren Court, being also the Southeast corner of Lot 142 in Wright's Addition=thence, North along ~the~ East lines of Lots 142, 131, 119, 108 and 97 to the North line of Lot 97 in Wright's Additioa; thence, East along the North line of Lot 97, as extended Easterly, to the North line and across the North line of -Lot 96 in said Addition to the Northeast corner~`of~• Lot 96 in said Addition, being also the West right-of-way line of North Second Avenue; thence, North along the West line of South Second Avenue to its intersection with the South right-of-way line of East Maple Street; thence, West along the South right-of-way • ~ • line of East-Maple Street to its intersection with the West ~ ~~~~:• •~ -• •~•• •~~~ right-of -way line of the alley immediately South of Van Huren Court; thence, North along the West line of said alley and Van Buren Court to the North line of Lot 74 in Nathan Jones 2nd Addition as extended Westerly to the West right-of-way line of Van Buren Court; thence, East along the North line of Lot 74 of Nathan Jones 2nd Addition, as extended, to the Northeast corner of Lot 74 in said Addition, being also the West right-of-way line of North Second Avenue; thence, North along the West right-of-way line.of North Second Avenue to its intersection with the North right-of-way line of East Pine Street; thence, West along the North right-of -way line of East Pine Street to its intersection with the East right-of -way Line of Van Buren Court; thence, North along the East right-of -way line of Van Buren Court to its intersection with the North line of Lot 32 in Nathan Jones 2nd Addition; thence, East along the North line of Lot.32 in said Addition to the West right-of-way line of South Second Avenue; ~ thence, -North along the ~ ~" West right-of-way line of South and North Second Avenue to its intersection with the South right-of-way line of East Chestnut Street, being also the point of beginning, all situated in the City . _ of Canton, Fulton County, Illinois. ~ ~ ~ ' ~~ o~ ~c~ X03 ~~ ~ ~ ~o~ AREA 4-B LEGAL DESCRIPTION Lots 1, 2, 3, 4, 5, 30, 31, 32, 33, 34, 53, 67, 68, 69, 70, 114, 115, 116, 134, WRIGHT'S ADDITION t~ Fulton and State of 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 28, 29, 35, 36, 37, 44, 45, 46, 47, 48, 49, 50, 51, 52, 71, 72, 89, 90, 91, 92, 93, 94, 111, 112, 113, 135, 136, 137, 138, 139, 232 and 235; all in n the City of Canton, situated in the County of Illinois. 8 feet off the South side of Lot 4; North 33 feet of West 99 feet of Lot 5; the South Half of Lot 5; Lots 6, 10, 11, 12, 13 and 14; Lot 15, EXCEPT the North 50 feet; Lots 44, 57, 58, 6I, 154, 155, 156 and 157; all in BARNES AND JONES ADDITION to the City of Canton, situated in the County of Fulton and State of Illinois. Blocks 1, 2, 3 and 4 in PAALIN AND ORENDORFF CO..SUBDIVIS.ION of part of Barnes and Jones Addition to tha-City of Canton, situated in the County of Fulton and State of Illinois. Blocks 5 and 6 in PARLIN AND ORENDORFF CO. SECOND SUBDIVISION of part of Barnes and Jones Addition to the City of Canton,. situated in the County of Fulton and State of Illinois. The East Half of Lot 69, EXCEPT the North 40 feet; the East Half of Lot 70; the East Salf of Lot 71=. the, East Half of Lot 72=.:,;, .,..::. the South 37 feet of Lot 73; the East Half ~of Lot 73, EXCEPT the South 37 feet thereof; Lots 74 and 75; all in JONES SECOND ADDITION to the City of Canton, situated in the County of Pulton and State of Illinois. Part of the Southeast Quarter of Section Z7, Township 7 14orth, Range 4 East of the Fourth Principal Meridian, Fulton County, Illinois,• lying South of Lot. 75 in JONES, SECOND.. ADDITION.. to• ;the ,.,:::•.;~:~ .,:, •City of Canton lying North of the Section line dividing the '~ Southeast Quarter of Section 27 and the Northeast Quarter of Section 34, in Township 7 North, Range 4 East of the Fourth Principal Meridian, situated in Fulton County, Illinois. That parcel of land lying South of Lot 70 in JONES SECOND ADDITION to Canton, Fulton County, Illinois and North of the Section line dividing the Southeast Quarter of Section 27 and the Northeas t Quarter of Section 34, Canton Township, otherwise described as: A rectangular strip of land about 16.5 feet North and South and 82.5 feet East and West, adjoining the South line of said Lot 70 in Jones Second Addition to the City of Canton, .Fulton County, Illinois. The North Half of vacated East Walnut Street from the East line of South Second Avenue to the West line of South Fourth Avenue in the City of Canton. The South Half of vacated East Walnut Street from the East line of South Second Avenue to the West line of the Burlington Northern (formerly C.B, & Q) Railroad right of way in the City of Canton. The vacated alley lying West of Lots 3, 14, 19, 30, 35, 46 and 51 and East of Lots 4, 13, 20, 29, 36, 45 and 52 in WRIGHT'S ADDITION to the City of Canton. Vacated South Third Avenue lying South of East Walnut Street and North of East Maple Street in the City of Canton. The vacated alley lying West of Lots 1, 16, 17, 32, 33, 48 and 49 and East of Lots 2, 15, 18, 31, 34, 47 and 50 in WRIGHT'S ADDITION to the City of Canton. Vacated Maple Street from the center line of the main track of the Burlington Northern (formerly C.B. ~ q) Railroad West to a line extended from the Southwest corner of Lot 5L to,tha Northwest corner of Lot 67 in WRIGHT'S ADDITION to the City of Canton. The vacated North 18 feet of East Maple Street from the East line of Second Avenue to the Southwest corner of Lot 51 in WRIGHT'S ADDITION to the City of Canton. Vacated Fourth Avenue from the South line of East Elm Street to the centerline of East Walnut Street and being 8.5 feet West of the Center. line of the main track of the Hurlingtoa Northern ~: __ (formerly C.B. ~ Q) Railroad in the City of Canton. The vacated alley lying East of Lots 68, 71, 90, 93, 112, 115, 135 and 138 and West of Lots 69, 70, 91, 92, 113, 114, 136 and 137 in WRIGHT'S ADDITION to the City of Canton. The vacated East 17 feet of North Second Avenue from the South .line of., East Elm. Street to .the. South line of ..East -Pine .Street in -~:, :_ ,. , the City of Canton. Vacated Second Avenue from the South line of East Pine Street to the North line of East Maple Street in the City of Canton.,. Vacated East Walnut Street from the West line of Second Avenue to the East line of Van Buren Court in the City of Canton. Vacated South Third Avenue from the South line of East Maple Street to the North line of Railroad Street in the City of Canton. EXCEPT THAT PART described as follows: Commencing at the intersection of the South right-of-way line of East Pine Street and the West right-of-way line of South Second Avenue; thence Easterly along the extended South right-of-way line of East Pine Street, 49.00 feet; thence Southerly along a line parallel to the West right-of-way line of Second Avenue to a point on the extended North right-of-way ~~ ~ P~. Sys u ~-P a P~ 5~~ . line of East Maple Street; thence Westerly 49,00 feet to a point of intersection of the North right-of -way line of Maple Street and the West right-of-way line of South Second Avenue; thence Northerly along the West right-of-way line of Second Avenue to the South right-of-way line of Walnut Street; thence Westerly along the South right-of-way line of Walnut Street to a point of intersection with the extended East right-of-way line of Van Buren Court; thence Northerly along the extended right-of-way of Van Buren Court to the North right-of-way line of Walnut Street; thence Easterly along the North right-of-way line of Walnut Street to a point on the West right-of-way line of South Second Avenue; thence Northerly along the West right-of-way line of South Second Avenue to a point on the South right-of-way line of East Pine; said point being the point of beginning. Lots 26~, 2.7, ~28, 29, 30, 36, 37, 38, 39, 40, 41, 42 and 43 in Barne's and Jone's Addition. Outlot 18 fn Barne's and Jone's Addition. .~11. situated in, the._ City of Canton, Fulton County. Illinois. , . ~iP' ""1'tL`:41^~'C~R~M-inii~ `~;~C."~-7.!"y.. tS:7~it:.l;:'i:~e1"•~ ~e.~,rr:~~" Sr;. .{' ~ ..a~ r.ifS~ i+r~ '+i'.r^. ~•°;:..t'.~~,w;`w;:ttf~ ~ ea'u`' ~ ::~ ~ti~'.YYeri+~:•Mi•~:C+"A.« CERTIFICATE STATE CF IId.II~AIS, ) SS. OOUNIY GF FULTON. ) I, Nancy Whites, City Clerk of the City of Canton, in the Cotnty.of Ft~l.ton and State of Illinois, do hereby certify that as the City Clerk of the City of Canton, I am the keeper of records, mdsnrtes, ordinarec~es and other books, records and papers of said City, and that the foregoing ~.s a true and correct oo*~'y of : . ORDINANCE NO. 1180 AN ORDINANCE ADOFTIrTG TAX INCREA?ENT FINANCING. adapted by the City Couicil of said City and approved by the Mayor thereof on the 3_ 1 ~t day of nP .,Pmt-,Pr 19 -8•~ WIZI~.SS IIy hand and the Corporate Seal of the City of Canton, Illinois this 15th day of FeklrLiarv _~ 19 _._$$_• ~b~- ~~~1'~ y qty STATE Of ~~ t+'I^;~.; w~STRUML't t ~' ' u QAY O'CIACK W aF u Ie~~`~~ ~ ~ ~ r , `'' ~ ~ AT N PAGE ~.1~ - ~0~ t'~ ' ' . i C~ ,~t~t p.. :`~ • d ~~~ ,~„ d,: • ,~ ,.~ , ,•~, Cry"""` x ~° ~,, , a a o A k j ~4.' .~? ~r COUr(TY CIFAx a RECORnE ~t .~~" Jai ~"' L) ~~ ~. ~,t:.