HomeMy WebLinkAboutOrdinance #1242.,~
ORDINANCE NO. 1242
AN ORDINANCE authorizing the issuance of up to
$ 3001000 water~torks alternate revenue source bonds
of the City of Canton, Fulton County, Illinois,
for the purpose of defraying the costs of
improving and extending its existing ~taterworks
facilities.
PREAI~+iBLES
HF~REAS, the City of Canton, Fulton .County,
Illinois (the "Municipality"); o~erates its municipally-owned
waterworks system (the "System') in accordance with the
provisions of Division 129 of Article 11 of the Illinois
Municipal Code [Section 11-129-1 et seg. of Chapter 24 of the
Illinois Revised Statutes, as supplemented and amended, including
by the Local Government Debt Reform Act (collectively, the
"Act")]; and
HHEREAS, the City Council of the
Municipality (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 a new water well, and other related
facilities (together with 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 related
plans, specifications and cost estimate therefor prepared by the
Municipality's engineers, now on file in the office of the City
Clerk and available for public inspection; and
i~iHEREAS, the estimated cost of acquiring, constructing
and installing the Project, including necessary interest during
acquisition, construction and installation, engineering, legal,
financial, bond discount, printing and publication costs and
other expenses preliminary to and in connection with the Project
is anticipated not to exceed the sum of $ 451 ,125,00 of which
$ 451. s125 is to be paid from the hereinafter described alternate
Bonds, being general obligation in lieu of revenue bonds as
authorized by Section 15 of the Local Government Debt Reform Act,
but nevertheless expected to be paid from revenues of the System
rather than by any levy of taxes; and •
f+IHEREAS, costa of the Project are expected to be paid
from funds on hand or already advanced therefor and from the sale
of alternate Bonds, to be payable from the revenues of the System
and issued pursuant to the Act, this ordinance and one or more
ordinances supplemental to this .ordinance authorizing and
providing for the issuance of such alternate Bonds, prescribing
the details of such alternate Bonds and providing for the
collection, segregation and distribution of the revenues of the
System (subordinate to any outstanding waterworks revenue bonds)
to pay the alternate Bonds in lieu of any levy of taxes; and
WHEREAS, the Municipality has insufficient funds to pay
costs of the Project and, therefore, must borrow money acid issue
alternate Bonds in evidence thereof, at orie time or from time to
time and in one or more series, up to t)ie aggregate principal
amount of $ 300.000 for such purposes, pursuant to acid in
accordance with the provisions of the Act.
NOW, THEREFORE , BE I T ORDAINED BY THE CITY COLINC I L OF
THE CITY OF CANTON, FULTON COUNTY, ILLINOIS, as follows:
Section 1. Incorporation of Pream_bles___ an_d
_Deter_mi_na_t_ion___to__ Issue Bonds. The Corporate Authorities hereby
find that all of the recitals contained in the preambles to this
ordinance are true, complete acid 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
continue to be operated as a municipal waterworks 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 General
Obligation Bonds (Alternative Revenue Source), and further
designated as to series, of the Municipality in an aggregate
principal amount up to but in any event not to exceed $ 300,000
(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 the notice hereinafter
set forth, shall be published in the Daily Ledger, the same being
a newspaper (as described in AN ACT to revise the law in relation
to notices, R.S.1874, p. 723) published and of general
circulation within the Municipality, and if no petition, signed
by not less than ],,~3~ electors of the
M~rnicipality, being equal to fifteen percent (15%) of the the
registered Voters in the Municipality, asking that the question
of improving and extending the System grid of issuing t}re
alternate Bonds to pay the cost thereof be submitted to t}re
electors of the-Municipality, is filed with the Clerlt of t}ie
Municipality within twenty-one (21) days after the date of the
publication of this ordinance, preceded by the notice hereinafter
set forth, then this ordinance shall be in full force and effect
and the Bonds shall be authorized to be issued. If such a
petition is filed, an election on the question shall be Held as
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set forth in the form of notice set forth below, and this
ordinance shall not become effective until such question shall
Have been duly approved by a majority of the votes cast on the
question at the election held as set forth in the form of the
notice below. The Municipal Clerk shall have available and
provide a form of petition to any person requesting one. The
City Clerk shall give notice of the foregoing provisions as set
forth in the form of the notice as follows:
(form of notice)
NOTICE OF INTENT TO ISSUE BONDS
AND RIGHT TO FILE PETITION
Notice is hereby given that pursuant to Ordinance No.
adopted 1989, the City of Canton, Fulton
County, Illinois (the "City"), intends to issue its alternate
bonds (the "Bonds") at one time or from time to time as funds are
needed up to the amount of but in any event not to exceed
$ 300,000 , bearing interest at not to exceed the rate limitation
provided by law, for the purpose of paying the costs of
improvements and extensions to the waterworks system (t2ie
"System") of the City as set forth in the above ordinance (tlie
"project").
In addition, notice is hereby given that if a petition
sighed by not less than 1,333 electors of the
City (at least 15% of the City's registered voters) requesting
that the question of the issuance of the Bonds for the project be
submitted to the City Clerk within twenty-one (21) days of the
date of publication hereof and of the above ordinance, the
question of the issuance of such Bonds for the project shall be
submitted to the electors of the City at the nonpartisan election
to be held on November 7, 1989, if such question can be acid is
presented at such election, and otherwise at ttie next election at
which such question could be presented under tie general election
laws. A form of petition is available to any person requesting
one in the City Clerk's office.
~s~ Nancy Whites
Clerk, City of Canton,
Fulton County, Illinois
Section 3. Additional Ordinances. If no petition
meeting the requirements of applicable law is filed as provided
above in Section 2, 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 issuance and sale of up to but in any event not
to exceed the amount alternate Bonds set forth above, prescribing
the details of such alternate Bonds, and providing for a levy of
taxes and the collection, segregation and distribution of the
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revenues of the System for the payment of the alternate Bonds
issued.
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
supplemental and additional ordinances or other proceedings,
shall constitute complete authority for the issuance of the
alternate Bonds under applicable law.
Section 4. Severability and Repealer. 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.
Adopted and recorded in the Municipality's records
Ma3~16 1989.
AYES ( names) : KnvarhE?yi ~h ~~~, StP~k rya rf_f , 1l4PadP , Sohl Pr ,
Ma y,,,,~a~;pman _
NAYS (names): None.
ABSENT, ABSTAIN, OTHER (names): None.
Approved: May 17 1989:
i / n
~~~~
Attest: Mayor, City of Canton,
Fulton County, Illinois
1
!,
Cle'r Cite of Canton,
Fulton County, Illinois ~ubllCailOn InStrUCtlOn~
a Do not publish
C~ Publish in pamphlet form only
C~'Publish in a general circulation ewspaper
C:ty Att pate
- 4- ,;
~'~..
(form of notice)
NOTICE OF INTENT TO ISSUE BONDS
At+m RIGHT TO FILB PETITION
Notice is hereby given that pursuant to Ordinance No.
adopted 1989, the City of Canton, Fulton
County, Illinois (the "City"), intends to issue its alternate
bonds (the "Bonds") at one time or from time to time as funds are
needed up to the amount of but in any event nvt to exceed
$300,000, bearing interest at not to exceed the rate limitation
provided by law, for the purpose of paying the costs of
improvements and extensions to the waterworks facilities of t?ie
combined waterworks and sewerage system (the "System") of the
City as set forth in the above ordinance (the "project").
In addition, notice is hereby given that if a petition
signed by not less than one thousand ree~,i~~~thj,~ty~hzee~l,~3~)
electors of the City (at least 15X of the City's registered
voters) requesting that the question of the issuance of the Bonds
for the project be submitted to the City Clerk within twenty-one
(21) days of the date of publication hereof acid of the above
ordinance, the question of the issuance of such Bonds for the
project shall be submitted to the electors of the City at the
nonpartisan election to be held on November 7, 1989, 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 1
Clerk, City of Carlton,
Fulton County, Illinois
Note to publisher: The full text of the ordinance is _to follow
the above notice. Please check with the City_ as to a_ny blanks
in the ordinance. Send your publication statement to City of
Caciton, 210 East Chestnut Street, Canton, Illinois 615?0-2797
Attention: Administrator, and send two certificates of
publication to Evans & Froehlich, 44 Main Street, P.O. Box 737,
Champaign, Illinois, 61820.
To: City Clerk, Citp of Canton, Illinois.
PETITION
In accordance with and pursuant to Section 2 of Ordinance No. of the City
of Canton, Fulton County, Illinois (the "City"), adopted 1989, and entitled:
AN ORDINANCE authorizing and providing for the issuance of up to $ 300,000 waterworks
and sewerage alternate revenue source bonds of the City of Canton, Fulton County,
Illinois, for the purpose of defraying the cost of improving and extending its
existing waterworks facilities,
each of the undersigned hereby certifies, as applicable to each, that each is an elector
(a registered voter) of the City, and hereby petitions and asks that the question of
issuing alternate bonds [general obligation bonds (alternate revenue source)], to pay a
part of the cost of improving and extending the City's waterworks system and related
costs, as set forth in the above ordinance, be submitted to the electors of the City at
the nonpartisan election to be held on November 7, 1989, 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.
Print Name Address Canton, IL Signature
1, Canton, IL
2, Canton, IL
3, Canton, IL
q, Canton, IL
5, Canton, IL
6, Canton, IL
7, Canton, IL
g, Canton, IL
9, Canton, IL
10. Canton, IL
Statement: I, fNamel, of fAddressl, Canton,
Illinois, hereby state that I am a registered voter of Canton, Illinois, 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.
State of Illinois
County of Fulton
(SEAL)
Signature
)The above Statement was subscribed
before me this day of
and sworn to
198_.
Notazy Public
My Commission Expires: __
Sheet Pdo.
STATE OF ILLINOIS )
COUNTY OF FULTON ) SS
VILLAGE OF CANTON )
CERTIFICATION OF ORDINANCE AND MINUTES
I, the undersigned, do hereby certify that I am the
duly selected, qualified and acting 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 of the City
Council of the City (including the Mayor, 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 1989, insofar as same relates to the adoption of
Ordinance No. entitled:
AN ORDINANCE authorizing the issuance of up to
$ 300,000 waterworks and sewerage alternate revenue
source bonds of the City of Canton, Fulton County,
Illinois, for the purpose of defraying the cost of
improving and extending its existing waterworks
system,
a true, correct and complete copy of which ordinance (the
"Preliminary 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, that the adoption of such ordinance
was duly moved and seconded, that the vote on the adoption of
such ordinance was taken openly, 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 laws 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 open meeting laws and
such Code and their procedural rules in the adoption of such
ordinance. petition has been received as
mentioned in Section 2 of such Preliminary Ordinance, a form
thereof being at all relevant times available therefor in the
City Clerk's office.
IN WITNESS WHEREOF, I hereunto affix my official
signature and the seal of the City of Canton, Illinois, this
day of 1989.
(SEAL) Clerk