HomeMy WebLinkAboutOrdinance #4517 - Abating Taxes for 2025 STATE OF ILLINOIS)
) SS.
COUNTY OF FULTON)
CERTIFICATE
I, Andi Smith-Walters, certify that I am the duly elected City Clerk of
the CITY OF CANTON, FULTON COUNTY, ILLINOIS.
I further certify that on December 16. 2025. the City Council of such
municipality passed and approved Ordinance #4517entitled:
ORDINANCE ABATING THE TAXES HERETOFORE LEVIED FOR THE YEAR 2025 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
The ordinance attached is a true and correct copy of the ordinance adopted by Canton
City Council.
DATED AT CANTON, ILLINOIS, THIS 16th DAY OF DECEMBER, 2025
Seal
v
ndi Smith-Walters, City Clerk
ity of Canton, Illinois
FILED
DEC 17 2025
fx - 7
COUNTY CLERP;FU TL ON COUNTY, IL
ORDINANCE NO. 4517
AN ORDINANCE ABATING THE TAXES HERETOFORE LEVIED FOR THE YEAR 2025 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 51h day of
November, 2019 and by Bond Order executed on the 23" day of January, 2020 (collectively 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 Bond Ordinance) on
deposit in the Bond Fund (as defined in the Bond Ordinance) available for the purpose of paying
debt service on the Bonds heretofore imposed by the 2025 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 2025 to pay the Bonds be abated.
NOW, THEREFORE, Be it 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 2025 in
the Bond Ordinance are hereby abated as follows:
AMOUNT OF 2025 LEVY AMOUNTTO REMAINDER OF
CURRENTLY ON FILE BE ABATED LEVY ON FILE
$633,850.00 $633,850.00 $0.00
Section 2. Filing of Ordinance. Forthwith upon the adoption of this abatement
ordinance, the City Clerk of the City shall file a certified copy of hereof with the County Clerk and
it shall be the duty of the County Clerk to abate said taxes levied for the year 2025 in accordance
with the provisions hereof.
Section 3. Effective Date. This abatement ordinance shall be in full force and
effect forthwith upon its adoption.
ADOPTED this 16' day of December, 2025 by a roll call vote as follows:
AYES: _Chq�mbe,�UYl� �O�e��i, CxoS�Z�c, Y�e� �1('xYYI
picl�Lek, "M
NAYES: N O)n el
ABSENT: GC`n�MC`�l `V elMn
APPROVED this 16' day of December, 2025.
ayor
ATTES
Ci Clerk
Ordinance No. 4517
MINUTES of a regular public meeting of the City Council of the City
of Canton, Fulton County, Illinois, held at the Council Chambers of
the City, 50 North 4th Avenue (Donald E. Edwards Way), Canton,
Illinois, at 6:30 p.m., on the 16th day of December, 2025.
The Mayor called the meeting to order and directed the City Clerk to call the roll.
Upon the roll being called, if,Q,nk t Q,' )ou)W the Mayor, and the following
Aldermen at said location answered present: (;Yl(m1p��(l1Cl, p CJCp5,5Q,� ,
Ih2�CY14�1 ,� Pic�e.\
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:
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 2025 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:
ORDINANCE NO. 4517
AN ORDINANCE ABATING THE TAXES HERETOFORE LEVIED FOR THE YEAR 2025 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 51h day of
November, 2019 and by Bond Order executed on the 23Id day of January, 2020 (collectively 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 Bond Ordinance) on
deposit in the Bond Fund (as defined in the Bond Ordinance) available for the purpose of paying
debt service on the Bonds heretofore imposed by the 2025 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 2025 to pay the Bonds be abated.
NOW, THEREFORE, Be it 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 2025 in
the Bond Ordinance are hereby abated as follows:
AMOUNT OF 2025 LEVY AMOUNTTO REMAINDER OF
CURRENTLY ON FILE BE ABATED LEVY ON FILE
$633,850.00 $633,850.00 $0.00
Section 2. Filing of Ordinance. Forthwith upon the adoption of this abatement
ordinance, the City Clerk of the City shall file a certified copy of hereof with the County Clerk and
it shall be the duty of the County Clerk to abate said taxes levied for the year 2025 in accordance
with the provisions hereof.
Section 3. Effective Date. This abatement ordinance shall be in full force and
effect forthwith upon its adoption.
ADOPTED this 16th day of December, 2025 by a roll call vote as follows:
AYES: Chamb�,�UYI, 1_Oy 211 C-� OSS Qom, l�l e C�CI�xY1 .
P�CyAeA
NAYES: N O)n
ABSENT: U�Mm 1V�•�SO�
APPROVED this 1611 day of December, 2025.
ayor
ATTES
Ci Clerk
Alderman S,Y�Q`Mb2,YuYl moved and Alderman
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:JIMCkmb Ulu,no
NAY: _ N OJnel
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.
la
City Clerk
STATE OF ILLINOIS )
) SS
COUNTY OF FULTON )
CERTIFICATION OF ORDINANCE AND MINUTES
I, the undersigned, do hear by certify that I am the duly qualified and 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 16" day of December, 2025, insofar as same
related to the adoption of an ordinance entitled:
ORDINANCE abating the taxes heretofore levied for the
year 2025 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 the 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.
IN WITNESS WHEREOF, I hereunto affix my official signature,this 161h day of December,
2025.
City Clerk