HomeMy WebLinkAboutOrdinance #2072 CERTIFICATE
STATE OF ILLINOIS, )
CITY OF CANTON, ) SS.
COUNTY OF FULTON.)
I Diana Pavley, City Clerk of the City of Canton, in the County of Fulton
and State of Illinois, do hereby certify that as the City Clerk of the City of
Canton, I am the keeper of records, minutes, ordinances, and other books,
record and papers of said City, and that the foregoing is a true and correct
copy of:
Ordinance #2072
AN ORDINANCE DECLARING SURPLUS REVENUE IN THE
CANTON 4-A INDUSTRIAL TIF DISTRICT SPECIAL TAX
ALLOCATION FUND AND AUTHORIZING PAYMENT OF THAT
SURPLUS REVENUE TO THE FULTON COUNTY TREASURER
FOR DISTRIBUTION TO AFFECTED TAXING DISTRICTS ON A
PRO RATA BASIS
Adopted by the City Council of said City and approved by the Mayor thereof
on the 7TH day of February 2012
WITNESS my hand and the Corporate Seal of the City of Canton, Illinois
this 7th day of Februarv 2012
I
~ '
iana Pavley, City lerk
(SEAL}
~
ORDINANCE NO. ~ r .
CITY OF CANTON, ILLINOIS
AN ORDINANCE DECLARING SURPLUS REVENUE
IN THE CANTON 4-A INDUSTRIAL TIF DISTRICT
SPECIAL TAX ALLOCATION FUND AND AUTHORIZING PAYMENT
OF THAT SURPLUS REVENUE TO THE FULTON COUNTY TREASURER
FOR DISTRIBUTION TO AFFECTED TAXING DISTRICTS
ON A PRO RATA BASIS
ADOPTED BY THE MAYOR AND CITY COUNCIL
OF THE CITY OF CANTON, FULTON COUNTY, ILLINOIS,
ON THE 7TH DAY OF FEBRUARY, 2012.
ORDINANCE NO. ~
r :ti~~ ;:i~
CITY OF CANTON, ILLINOIS
AN ORDINANCE DECLARING SURPLUS REVENUE
IN THE CANTON 4-A INDUSTRIAL TIF DISTRICT
SPECIAL TAX ALLOCATION FUND AND AUTHORIZING PAYMENT
OF THAT SURPLUS REVENUE TO THE FULTON COUNTY TREASURER
FOR DISTRIBUTION TO AFFECTED TAXING DISTRICTS
ON A PRO RATA BASIS
PREAMBLE
WHEREAS, On the 31S` day of December, A.D., 1987, the Ciry of Canton, Fulton County,
Illinois (the "City") by its duly elected Mayor and City Council and pursuant to 65 Illinois Compiled
Statutes Section 5/11-74.4 et. .req. (the "TIF Act") heretofore adopted a Redevelopment Plan and
Projects; designated a Redevelopment Project Area; and adopted Tax Increment Financing known
as the Canton 4-A Industrial (TIF) District; and
WHEREAS, pursuant to the TIF Act, the estimated dates of complerion of a xedevelopment
project and retirement of obligations issued to finance xedevelopment project costs may not be later
than Decembex 31 of the yeaY in which the payment to the municipal treasurer is to made with
respect to ad valoYem taxes levied in the 23`d calendar year after the year in which the ordinance
approving a redevelopment project area is adopted; and
WHEREAS, pursuant to the TIF Act, on the 8`h day of September, A.D., 2011, the City
appxoved Ordinance No. 2039, thereby terminating the TIF District and dissolving the Canton 4-A
Industrial TIF District's Special Tax Allocation Fund as of December 31, 2011; and
WHEREAS, pursuant to the TIF Act, when all redevelopment project costs have been paid, all
surplus funds remaiiung in a TIF District's Special Tax Allocation Fund shall be paid to the County
Collector for distribution to the taxing districts in the Redevelopment Project Area in the same
manner and proportion as the most recent distriburion by the County Collectox to the affected
districts from real property in the redevelopment project area; and
WHEREAS, the City Txeasurer has determined and reported that at the close of business on
December 31, 2011, the Canton 4-A Industrial TIF District's Special Tax Allocation Fund had a
balance of $8.78; and
Canton 4-A Industrial TIF District Surplus Declaration Page 9 of 3
WHEREAS, pursuant to the TIF Act, the balance of $8.78 is surplus funds and said surplus
amount shall be paid to the Fulton County Treasurer for distribution to ta~ng districts in the
redevelopment project area in accordance with the provisions of the TIF Act; and
WHEREAS, the Mayor and City Council of the City of Canton hereby find and determine that
it is appropxiate to declare a surplus in the amount of $8.78 and to cause that surplus to be
distributed to the ta~ng districts as provided in the TIF Act;
NOW, THEREFORE, BE IT ORDAINED BY THE MAYOR AND CITY COUNCIL
OF THE CITY OF CANTON, FULTON COUNTY, ILLINOIS:
1. The recitals set forth in the pYeamble to this Ordinance axe hereby incorporated by reference
as if fully set forth herein.
2. The Mayor and Ciry Council, puYSUant to Section 4-8 of the TIF Act and other applicable
authority, hereby declare a surplus of funds in the Canton 4-A Industrial TIF District Special
Tax Allocation Fund in the amount of $8.78 to be distributed by the Counry Treasurer to
the ta~ring distticts in the redevelopment project area.
3. The City Treasurer is hereby authorized and directed to upon execution of this Oxclinance
pay funds from the Canton 4-A Industrial TIF District Special Tax Allocation Fund in the
amount of $8.78 to the Fulton County Txeasurer for distribution to the ta~ng districts in the
redevelopment project area in accordance with the provisions of the TIF Act. The City
TreasuYeY also is authorized and ditected to file a certified copy of this Oxdinance with the
Fulton County Treasurer.
4. This Oxdinance shall be in full force and effect from and aftex its passage and approval as
provided by law and shall take effect upon its passage as required by law.
[Balance af
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Canton 4-A Industrial TIF District Surplus Declaration Page 2 of 3
PASSED, APPROVED AND ADOPTED by the Mayox and Ciry Council of the Ciry of
Canton, Fulton County, Illinois, on the 7`h day of February, A.D., 2012, and deposited and filed in
the Office of the City Clexk of said City on that date.
CORPORATE AUTHORITIES AYE VOTE NAY VOTE ABSTAIN ABSENT
David Pickel i`
James Hartford ';f
Jeffrey Fritz
~
Craig West
Gerald Ellis j
justin Nelson ~y',~
Eric Schenck h~
~ r
Jeremy Pasley k.
Kevin R. Meade, Mayox
Total Votes
APPROVED: ATTEST:
~
7 ~ °
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Mayor Ciry Clerk
Canton 4-A Industrial TIF District Surplus Declaration Page 3 of 3