Loading...
HomeMy WebLinkAboutOrdinance #1693ORDINANCE NO. 1693 AN ORDINANCE AUTHORIZING THE ISSUANCE OF UP TO $4,300,000 WATERWORKS AND SEWERAGE REVENUE BONDS OF THE CITY OF CANTON, FULTON COUNTY, ILLINOIS, FOR THE PURPOSE OF DEFRAYING THE COST OF ACQUIRING, CONSTRUCTING AND INSTALLING IMPROVEMENTS TO ITS WATERWORKS FACILITIES PREAMBLES WHEREAS, the City of Canton, Fulton County, Illinois (the "Municipality"), operates amunicipally-owned combined waterworks and sewerage system (the "System") in accordance with the provisions of Division 139 of Article 11 of the Illinois Municipal Code [Section 5/11-139-1 et seq. of Chapter 65 of the Illinois Compiled Statutes (as supplemented and amended, including by the Local Government Debt Reform Act, the Intergovernmental Cooperation Act, Section 10 of Article VII of the constitution of Illinois, the Public Works Finance Act, and applicable Illinois and federal laws in connection with the Illinois Environmental Protection Agency (the "IEPA") Public Water Supply Loan Program (the "Program"), collectively, as supplemented and amended, the "Act")]; and WHEREAS, the Municipality's City Council (the "Corporate Authorities") has determined that it is advisable, necessary and in the best interests of the Municipality's public health, safety and welfare to undertake a project providing for the acquisition, construction and installation of a water plant and water transmission line improvements, with an expected design life of at least 20 years, and related facilities, improvements and costs (together with related engineering and all required structures, equipment, appurtenances and fixtures, all electrical, mechanical or other work and the acquisition of land or rights in land necessary, useful or advisable in connection with such work, and as such work may progress in one or more phases, and other related costs, the "Project"), substantially in accordance with the preliminary plans and cost estimate therefor prepared by Maurer -Stutz, Inc., Canton, Illinois, consulting engineers for the Project, and now on file in the office of the City Clerk and available for public inspection; and WHEREAS, the estimated cost of acquiring, constructing and installing the Project, and necessary interest during acquisition, construction and installation, reserves, engineering, legal, financial, discount, printing and publication costs and other expenses preliminary to and in connection with the Project and its financing is anticipated to be approximately $4,300,000; and WHEREAS, costs of the Project, for which the Municipality has insufficient funds, are expected to be paid from funds on hand or already advanced therefor and from proceeds of obligations payable from the revenues of the System and issued pursuant to the Act, this ordinance and ordinances supplemental to this ordinance authorizing and providing for the issuance of such obligations, prescribing the details of such obligations and providing for the collection, segregation and distribution of the revenues of the Municipality's waterworks and sewerage system, which obligations are expected to be purchased by the Illinois Environmental Protection Agency (the "IEPA") from funds available therefor, including in connection with the Program or private sector sources. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CANTON, FULTON COUNTY, ILLINOIS, as follows: Section 1. Incorporation of Preambles and Determination to Issue Bonds. The Corporate Authorities hereby find that all of the recitals contained in the preambles to this ordinance are true, complete and correct and hereby incorporate them into this Section 1 of this ordinance by this reference thereto. It is necessary and in the best interests of the Municipality to acquire, construct and install the Project for the public health, safety and welfare, in accordance with the plans and specifications, as described above, that the System shall continue to be operated as a combined waterworks and sewerage system in accordance with the provisions of the Act, and that for the purpose of acquiring, constructing and installing the Project, there are hereby authorized to be issued and sold waterworks revenue bonds or other revenue obligations of the Municipality in an aggregate principal amount up to but in any event not to exceed $4,300,000 (howsoever styled, the "bonds"). Section 2. Publication and Notice. Within ten (10) days after the adoption of this ordinance by the Corporate Authorities, this ordinance, preceded by a notice conforming to the requirements of the Act (in substantially the form thereof presented at the meeting of the Corporate Authorities at which this ordinance is adopted), shall be published in The Daily Ledger, a newspaper (as described in the Notice by Publication Act, 715 ILCS 5/0.01 et seq.), as published in Canton, Illinois and of general circulation within the Municipality, and if no petition, signed by not less than the number of electors of the Municipality being equal to ten percent (10%) of the number of registered voters in the Municipality, asking that the question of so acquiring, constructing and installing the Project and issuing the bonds or other revenue obligations to pay the cost thereof be submitted to the electors of the Municipality, is filed with the City Clerk of the Municipality within thirty (30) days after the date of the publication of this ordinance, preceded by such notice, then this ordinance shall be in full force and effect. If such petition is filed, an election on the question shall be held as set forth in such notice at the general primary election to be held on March 19, 2002, if such election is held and such question is presented, and otherwise at the next election at which such question could be presented. The City Clerk shall have available and provide a form of petition, in substantially the form as presented before the meeting of the Corporate Authorities at which this ordinance is adopted, subject to completion and modifications as necessary to conform with the Act, to any person requesting one. Section 3. Additional Ordinances. If no petition meeting the requirements of applicable law is filed as provided above in Section 2, and there is no material change in the Project and the purposes herein described, then the Corporate Authorities in accordance with and pursuant to the Act may adopt additional ordinances or other proceedings supplemental to or amending this ordinance, providing for the Municipality to enter into a loan agreement with the IEPA in connection with the Program and/or the related sale of up to but in any event not to exceed $4,300,000 of its waterworks and sewerage revenue bonds, prescribing the details of such bonds, and providing for the collection, segregation, application and distribution of the revenues of the System. Such additional or supplemental ordinances or other proceedings shall in all instances become effective in accordance with applicable law; and this ordinance, together with such additional ordinances or other proceedings, shall constitute complete authority for the issuance of the bonds and authorization of a loan agreement with IEPA in connection with the Program under applicable law. The bonds and/or the loan agreement shall not constitute an indebtedness of the Municipality within the meaning of any constitutional or statutory provision or limitation, such obligations being payable solely from revenues of the System. Section 4. Severability and Repealer. The Municipality reserves the right to reimburse itself from bond proceeds for costs advanced for the Project under Section 1-1.50-2 of the Income Tax Regulations. If any section, paragraph, clause or provision of this ordinance shall be held invalid, the invalidity of such section, paragraph, clause or provision shall not affect any of the other provisions of this ordinance. All ordinances, resolutions or orders, or parts thereof, in conflict with the provisions of this ordinance are to the extent of such conflict hereby repealed. Upon motion by Alderman Sarff ,seconded by Alderman Meade adopted this .4th day of APrl , 2001, by roll call vote, as follows: Voting "aye" (names): Alderman Molleck, Hartford, Sarff, Phillips, Nidiffer, Meade, Shores Mav. Voting "nay" (names): None. Absent (names): None , Approved: April 4th , 2001 Attest: Mayor, City of Canton, Fulton County, Illinois City Clerk, Cit of Canton, Fulton County, Illinois To: City Clerk, City of Canton, Illinois. PETITION In accordance with and pursuant to Section 2 of Ordinance No. 1693 of the City of Canton, Fulton County, Illinois (the "Municipality"), adopted April 4 , 2001, and entitled: AN ORDINANCE AUTHORIZING THE ISSUANCE OF UP TO $4,300,000 WATERWORKS AND SEWERAGE REVENUE BONDS OF THE CITY OF CANTON, FULTON COUNTY, ILLINOIS, FOR THE PURPOSE OF DEFRAYING THE COST OF ACQUIRING, CONSTRUCTING AND INSTALLING IMPROVEMENTS TO ITS WATERWORKS FACILITIES each of the undersigned hereby certifies, as applicable to each, that each is an elector (a registered voter) of the Municipality, and hereby petitions and asks that the question of issuing revenue bonds or other revenue obligations in the aggregate principal amount not to exceed $4,300,000 to finance waterworks and sewerage system extensions, and related facilities, improvements and costs, a water plant and water transmission line improvements, designed to last more than 20 years, all as set forth in the above ordinance, be submitted to the electors of the Municipality at the general primary election to be held on March 19, 2002, if such election is held and such question is presented, and otherwise at the next election at which such question could be presented: Address 1. 2. 3. 4. 5. 6. 7. 8. 9. 10 Canton, IL Canton, I L Canton, IL Canton, IL Canton, IL Canton, IL Canton, IL Canton, I L Canton, IL Canton, IL Canton, IL Signature Statement: I, (Name], of [Address], Canton, Illinois, hereby state that I am now and was during all times that I circulated this petition over 18 years of age, that the above signatures on this sheet were signed in my presence in Canton, Illinois, and are genuine, and to the best of my knowledge and belief each of the persons so signing were at the time of signing registered voters of the City of Canton, Illinois, and their addresses are correctly stated. Signature State of Illinois ) County of Fulton ) (SEAL) My Commission Expires: The above Statement was subscribed and sworn to before me this day of , 2001. Notary Public Sheet of STATE OF ILLINOIS ) COUNTY OF FULTON ) SS CITY OF CANTON ) CERTIFICATION OF ORDINANCE I, the undersigned, do hereby certify that I am the duly selected, qualified and acting City Clerk of the City of Canton, Fulton County, Illinois (the "Issuer"), and as such official I am the keeper of the records and files of the Issuer and of its City Council (the "Corporate Authorities"). I do further certify that the foregoing constitutes a full, true and complete excerpt from the proceedings of the regular meeting of the Corporate Authorities held on the day of 2001, insofar as same relates to the adoption of Ordinance No. ,entitled: AN ORDINANCE AUTHORIZING THE ISSUANCE OF UP TO $4,300,000 WATERWORKS AND SEWERAGE REVENUE BONDS OF THE CITY OF CANTON, FULTON COUNTY, ILLINOIS, FOR THE PURPOSE OF DEFRAYING THE COST OF ACQUIRING, CONSTRUCTING AND INSTALLING IMPROVEMENTS TO ITS WATERWORKS FACILITIES a true, correct and complete copy of which ordinance (the "Preliminary Ordinance" or "ordinance") as adopted at such meeting appears in the transcript of the minutes of such meeting and is hereto attached. The Preliminary Ordinance was adopted and approved by the vote and on the date therein set forth. I do further certify that the deliberations of the Corporate Authorities on the adoption of such Preliminary Ordinance were taken openly and was on the agenda at least 48 hours before the meeting at which it was adopted, that the adoption of such ordinance was duly moved and seconded, that the vote on the adoption of such ordinance was taken openly and was preceded by a public recital of the nature of the matter being considered and such other information as would inform the public of the business being conducted, that such meeting was held at a specified time and place convenient to the public, that notice of such meeting was duly given to all of the news media requesting such notice, that such meeting was called and held in strict compliance with the provisions of the Open Meeting Act of the State of Illinois, as amended, and the Illinois Municipal Code, as amended, and that the Corporate Authorities have complied with all of the applicable provisions of such Act and such Code and their procedural rules in the adoption of such ordinance. Petition(s) has (have) been received in connection with such Preliminary Ordinance. IN WITNESS WHEREOF, I hereunto affix my official signature and the seal of the City of Canton, Illinois, this day of , 2001. City Clerk (SEAL) NOTICE OF INTENT TO ISSUE BONDS AND RIGHT TO FILE PETITION Notice is hereby given that pursuant to Ordinance No. 1693 (the "ordinance"), adopted at a regular meeting of the City Council on April 4 , 2001, the City of Canton, Fulton County, Illinois (the "Municipality"), intends to issue its waterworks and sewerage revenue bonds (howsoever styled, and/or, as the case may be, a Loan Agreement obligation to the Illinois Environmental Protection Agency through its Public Water Supply Loan Program, the "Obligations"), up to the amount of but in any event not to exceed $4,300,000 in aggregate principal amount, bearing interest at not to exceed the rate limitation provided by applicable law, to finance certain waterworks facility improvements (a water plant and water transmission line improvements, with an expected design life of at least 20 years) as described in the ordinance. The Obligations are to be payable solely and only from enterprise revenues derived from the Municipality's combined waterworks and sewerage system, as provided in the ordinance, and shall not constitute a debt of the Municipality under applicable law. In addition, notice is hereby given that if a petition signed by not less than 930 electors of the Municipality (numbering 10% of the registered votes in the Municipality) requesting that the question of the issuance of the Obligations and of undertaking the above described project be submitted to the City Clerk within thirty (30) days of the date of publication of this notice and of the above described ordinance, the question of undertaking the above described project and of the issuance of such Obligations shall be submitted to the electors of the Municipality at the general primary election to be held on March 19, 2002, if such question can be and is presented at such election, and otherwise at the next election at which such question could be presented under the general election laws. A form of petition is available to any person requesting one in the City Clerk's office. /s/ Nancy Whites City Clerk, City of Canton, Fulton County, Illinois Note to publisher: The full text of the ordinance is to follow the above notice. Publish in order: the Revenue Bonds notice first and the ordinance second (but not the certificate or petition forrm). Please check with James J. Elson, Esq. (309/647-6622) as to anv blanks in the ordinance or notice. Send your publication statement to the City of Canton, 210 E. chestnut St., Canton, Illinois 61520 Attn: Mayor and two certificates of publication (and text) and copy to Evans, Froehlich, Beth & Chamley, 44 Main Street, Third Floor, Champaign, Illinois, 61820.