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HomeMy WebLinkAboutOrdinance #1051a ,N... ;,~ ~~w i _~ - -_- -` ! ~ - a .. =~ 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; -, ~. __ _ f _ ~., x {cl} ~ s ;-+•~ 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 _~. ------- --- 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--- ---