HomeMy WebLinkAboutOrdinance #4383 - Abating the Taxes Heretofore levied for the Year 2023 to Pay Debt Service on $4,870,000 ORDINANCE NO.4383 FILED
MINUTES of a regular public meeting of the City Council ot" g 2 0 2023
City of Canton, Fulton County, Illinois, held at the CourWil
Chambers of the City, 50 North 4th Avenue (Donald E. Edwr A a2�� �
Way), Canton, Illinois, at 6:30 p.m., on the 18th dayC6E0ZF�d�hb , FU( COUNTY, IL
2023.
The Mayor called the meeting to order and directed the City Clerk to call the roll.
Upon the roll being called, Kent McDowell , the Mayor, and the following
Aldermen at said location answered present:a arr,6PaJ,�,f ��/mom ,(�y L/aZeT(;otse77T
A�&CA am �n ren�'c%A-9
The following Aldermen were allowed by a majority of the members of the City Council
in accordance with and to the extent allowed by rules adopted by the City Council to attend the
meeting by video or audio conference:
The following Aldermen were absent and did not participate in the meeting in any
manner or to any extent whatsoever:. AJ
The Mayor announced that the next item of business before the City Council was the
consideration of an ordinance abating the taxes heretofore levied for the year 2023 to pay debt
service on the City's outstanding $4,870,000 General Obligation Refunding Bonds (Alternate
Revenue Source), Series 2020.
Whereupon the Mayor presented and the City Clerk read by title an ordinance as follows,
a copy of which was provided to each Alderman prior to said meeting and to everyone in
attendance at said meeting who requested a copy:
4881-9840-0663.2
ORDINANCE abating the taxes heretofore levied for the
year 2023 to pay debt service on $4,870,000 General Obligation
Refunding Bonds (Alternate Revenue Source), Series 2020, of the
City of Canton, Fulton County, Illinois.
WHEREAS, the City Council (the "Council") of the City of Canton, Fulton County,
Illinois, an Illinois municipal corporation (the "City"), by ordinance adopted on the 5th day of
November, 2019 and by Bond Order executed on the 23rd day of January, 2020 (the "Bond
Ordinance"), did provide for the issue of $4,870,000 General Obligation Refunding Bonds
(Alternate Revenue Source), Series 2020 (the "Bonds"), and the levy of a direct annual tax
sufficient to pay principal and interest on the Bonds; and
WHEREAS, the City has Pledged Revenues (as defined in the Ordinance) on deposit in
the Bond Fund (as defined in the Ordinance) available for the purpose of paying debt service on
the Bonds heretofore imposed by the 2023 levy; and
WHEREAS, such Pledged Revenues are hereby directed to be used for the purpose of
paying debt service on the Bonds; and
WHEREAS, it is necessary and in the best interests of the City that the taxes heretofore
levied for the year 2023 to pay the Bonds be abated:
NOW, THEREFORE, Be It and It is Hereby Ordained by the City Council of the City of
Canton,Fulton County, Illinois, as follows:
Section 1. Abatement of Taxes. The taxes heretofore levied for the year 2023 in the
Ordinance are hereby abated as follows:
AMOUNT OF 2023 LEVY AMOUNT TO REMAINDER OF
CURRENTLY ON FILE BE ABATED LEVY ON FILE
$637,600.00 $637,600.00 $0.00
4881-9840-0663.2
Section 2. Filing of Ordinance. Forthwith upon the adoption of this abatement
ordinance, the City Clerk of the City shall file a certified copy hereof with the County Clerk and
it shall be the duty of the County Clerk to abate said taxes levied for the year 2023 in accordance
with the provisions hereof.
Section 3. Effective Date. This abatement ordinance shall be in full force and effect
forthwith upon its adoption.
- 2 -
4881-9840-0663.2
ADOPTED this 18th day of December, 2023 by a roll call vote as follows:
AYES: �� riberG/. �i, ) z4eal, 1,4ple .
NAYS:
ABSENT:
APPROVED this 18th day of December, 2023.
M or
ATTEST:
i
ity Clerk
- 3 -
4881-9840-0663.2
Alderman /, h moved and Alderman zt)or- ff
seconded the motion that said ordinance as presented and read by title be adopted.
After a full discussion thereof, the Mayor directed that the roll be called-for a vote upon
the motion to adopt said ordinance.
Upon the roll being called,the following Aldermen voted AYE: (,An
NAY:
Whereupon the Mayor declared the motion carried and said ordinance adopted, approved,
and signed the same in open meeting and directed the City Clerk to record the same in the
records of the City Council of the City of Canton, Fulton County, Illinois, which was done.
Other business not pertinent to the adoption of said ordinance was duly transacted at the
meeting.
Upon motion duly made, seconded, and carried,the meeting was adjourned.
fity Clerk
4881-9840-0663.2
STATE OF ILLINOIS )
SS
COUNTY OF FULTON )
CERTIFICATION OF ORDINANCE AND MINUTES
1, the undersigned, do hereby certify that I am the duly qualified and acting City Clerk of
the City of Canton, Fulton County, Illinois (the "City"), and as such official I am the keeper of
the records and files of the City and the City Council.
I do further certify that the foregoing constitutes a full, true, and complete transcript of
the minutes of the meeting of the City Council held on the 18th day of December, 2023, insofar
as same relates to the adoption of an ordinance entitled:
ORDINANCE abating the taxes heretofore levied for the
year 2023 to pay debt service on $4,870,000 General Obligation
Refunding Bonds (Alternate Revenue Source), Series 2020, of the
City of Canton, Fulton County, Illinois.
a true, correct and complete copy of which said ordinance as adopted at said meeting appears in
the foregoing transcript of the minutes of said meeting.
I do further certify that the deliberations of the City Council on the adoption of said
ordinance were conducted openly, that the vote on the adoption of said ordinance was taken
openly, that said meeting was called and held at a specified time and place convenient to the
public, that notice of said meeting was duly given to all of the news media requesting such
notice, that an agenda for said meeting was posted at the location where said meeting was held
and at the principal office of the City Council at least 48 hours in advance of the holding of said
meeting, that said meeting was called and held in strict compliance with the provisions of the
Open Meetings Act of the State of Illinois, as amended, and that the City Council has complied
with all of the provisions of said Act and with all of the procedural rules of the City Council in
the passage of said ordinance.
2023. IN WITNESS WHEREOF, I hereunto affix my official signature, this 18th day of December,
S114 A
ty Clerk
4881-9840-0663.2