HomeMy WebLinkAboutOrdinance #1051a
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AN ORDL'~lA1JCE AUTHORIZING AND DIRr]l:"T71~~, ~~ 'fR~1~.~ OF FlT,4DS I•R~a•7 '1'ii}: =I.70RiC7NG
CASH FU'.~TD TO THE ~L C'DRP'C~R1~TE F1T1~14. _:. ,:,II2ri:.'TING THE CI'!'Y TRFI~.SU:2}-:R ~i~0
Ti~KE TRAT~SF~2S AS I'~REIN SET FOR'IIi
h':-~.RE~S, Division 7, Article 8 of Chapter 24, Illinois Revised Stt~tues
(1?83} autl;or_.izes the City of Canton to create and rr~3intain a t•lork~ng ~' jsh
i1u;d for t're uses and purposes t);r~rein set forth; and,
1•~~~,'?Z,'=.S, the City of Canton has ~~rF~~r;~zsly created, pursuant to said
aut-],ority, a T~Jorking Cash FuT~d ~•r;ich t~:-,:~ ~. p:rescnt approximate Lalance of
X30,200.00; and,
1;~riE:<F,as, -;-t;e Corr_~or~~~~n_ I.~~t1;oritics of tl;e City of Canton may, by ordinanco,
authorize <:~;d dirc--ct the ~r~~;sf~_r of 5.7or;ci.1-:~3 Casi; )•`und money t:o tJ;e C~nc-r~31
C01TArate Fund; and,
;:'-r.PJtiS, it is necessary a~;d in f-i;e heat inti:rest of J;e City of Canton
t_h.~t *:r~,;ny in the 1-~~orking G,sh >^`and ;;ot in t.~ce ~s of $30,200.00 iJL tr. nsfer~-~;d
t:o t1;e Ger,c-ral Corporate Fund of the City of Canton in a~;ticipation of }~e 1934
general real estate tz~;es levied by the City of Canton, due and raya];le in 1985.
:~~~, 11i Ei?E'~'Oi~E, F3E O~DAT~vFD BY `PHE CT_`1'Y COUJCIL OF Tl~ CITY OF G'z~'il~;`],
Fulton C~_>anty, Il]-~noi_s, as f_ol].c~.~s:
1. 'li,~~t the foreyoillg recityals are ];eteuy found to l;e fact.
2, li;at i~ney nova in the P~rork~ng Cash Fund in an anbunt not to exceed
$30,200.00 l~ transferred from t>>e t•Jorking Cash Fwd to the General Corporate
1Zmd .
3. That the City Treasurer i.s hereby au~hori;cd and directed to make one
or )rare transfers from the j-7orking Cash F1-;r]d to {i]e General Corporate Pti;z~d in
~-~n C1n~~1eyaLe ~~n-otult not to exceed $30, 200.00.
~. 'lllat t}lc'_ fol.lowi_ng ndclitional information is supplied as rEUllirec] by
5t.~tol.e:
(a) The {:.3,YC'_S in ~-rr]tici.i;.3ti.on of t11e co]_lcction of ~:fiich the
forc~Joi)]g transfer .is to be n:~de. and from which t_he j~Yc.~rk:iJ-~g
C.:~~h ~~)]d i.s to ire r(~i;ri~ur.~srd: 124 gu~eral real estate
{~:::(.'S (Zl.](? ~~?~~d `k:yr-3}Jl(? 1)1 1(i i3 j;
(b) li]e anti re ~:;:!~unt of t]x(~s exi:en(?ed, or esti..r:,_~tc-d to ire
(::.Ytenc?(.=d or r::-c(-~ivr~c3 .in antici.,~~t.i.rn of the oolloct.i.on of
alt (~r_ j:ai t (~f t•:'] ic:h file tr..,nsicr .is tc~ lso ~:; c]e: .~1c` )-c,xi-
.,. _I cal y x:20, x:00.00;
((:) ~l~i]l3 i.(.~7rt-<J?t-e t;:ik~Unt Of `:idJ.-Y:~in~S Or 1]C:i:(~`i i;~'_f~.iQi(~7:(? i.;;~?,r'!~
i.n i:],]i.ici;~:ti.cn cif il]e cq] lc~:tion oL tl_e 1.90} ~,c.,~~L.31 ical
(~rsl.r~l_.e {-,:'es t(~,(_tl]i_r ~.~i.th ti]e <:;~!~i]nt of ii;t('~iCS;L ~.•:']i_~~'1 r~,]s
i]~:(r-r'~„(_Kj ~ ~T"~ .:1) 1.c 11 1t ].S ('_~t ]i;:_it(~{] ~•: 1.1 l .?(:C)`~:~' L7~.. ,(:..-t-,(l : RC'N',
:~(i.,i_`.~. ~f ~_i -..~ GII~-1(,•1 ~~:I: i.(~(1 .'.-iL (: :t~l_s ):VL l0 1''~~-.'. y_l Il;.i r ~
~:ii!/~.'i)t Uf_ y"cGO~~JC)O.QO i.lt ;)11 ~'r_i'!IJ%.]}. ].!]l.(_L("it, ~,.2~f? ;}Ut: ~.!) (':•I;._~tj
3~ ~r:,y Sao :_~uii~(~ric<3 c:ontc';:Y<~r~:]u_rusl.y wii:.}1 t}lis Olc].ir~:,:<:e;
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;-+•~ 5 _,:.~t;tr ~w~t of receipts from taxes ~n:~~~~,: ~ '.~
• ?,;~ revenue-~:ost ~~s a re~-~~t.o~~the abolition ~~:
,.. valorem personal property tauces estir*ated to be see
aside for the payment of the proportionate ar;~unt of
debt service and pension or retireT~ent obligations as
required by Section 12 of "An Act in relation tro State
Revenue. Sharing with local yoven~x::nt entities", approv-
ed July 31, 1969, as ariended: Approximately $33,000.00;
(e) The aggregate ~-~~Q~.u~t of iT-oney heretofore transferred fro,-n
the 1~rork.ing Cash Fund to the C~~eral Corporate Fund: $-0-
5. The aoc3rc~ai.e araunt of t•~orking Cash Fw~ds to be transferred f.rc;~n the
;'?O'!'!C)~~)C3 ;ash Fur)d i:o the Cznar~31 Cor;~orate Fund, t:ogeiher with the a~~grccat:e
a;~:~.:unt of tax antic~~nation ~,arrants or notes h~:r_etofore dra~•m agav~st t:he
~-i'~~ C~n-I")i?Lal rE',~l C'Stat:.L' t~:}{CS •~:.7d t1~C3 ~~i~~t:i~t (~f ]ni:.G''l:~St 3CGYl;~i~ 0l'!(3 C~:~tl)^~it~~
to accrue tl-,crc-~~n, the ~z,:o+ant estim•3~.cd ~~ b? r~-~-~ir«~ to satisfy debt service
«,d pension or -r_etirel7~nt obligations as set for~h ~n Se~,tion 12 of "R.n Tact in
:~_t~lation to State hevenue Sharing with 1~~~~1 aovenz.~~nt entities", <:.~~?roveci
July 31, 19u9, as r_:-~.=nded, and Jze ~3~~git_.~ai:P ."c,:L~t of s~~.ch '~:~~~s ~.;.:~ h_re~oforo
m:~de in onticipai.ion of t-he collection of the 1984 general real estate taxes,
sha11 not exceed 90 0 of the actual or estii~r~ted amount of such taxes extended
or to be F~:t-F:nc3c--d or to be rece-;.ved as horein~'~ove ~t forth.
6. 'That this Grc3.inai~)ce shall ire iii x)11 force any
its I3assaoe L-y the City Council of tine Cii:y ~f Canton,
K
and approval by the I'~ayor their eof . •
PI~SSr'~ by the City Council of the City of Canton,
at a rc:~ul•3:c r~K;Lti.ng t>>is l~~ c?ay of ~i ''~^-_~_=~
~~~ ll
3 efff:ct iirr~:~7iat_ely upon
Fulton Coanty, Illinois,
Fulton Cow~ty, Illinois
-__, 1935, }.n-ten a r~~ll call
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vote as fol)_owsi ~~- ~ ---
1~YES
:~i~YS
71~3t~1•w7.'
APPS :OVL'D
~;~rl•~•s~r:
~.'.~~c~y t~71>i L~~s, Ci.~y c~lrrk--- ---