HomeMy WebLinkAboutOrdinance #1446ORDINANCE NO . 1446
AN ORDINANCE AUTHORIZING THE ISSUANCE OF UP TO
$1,800,000 WATERWORKS AND SEWERAGE REVENUE BONDS AND
ALTERNATE REVENUE SOURCE BONDS (IN LIEU OF SUCH REVENUE
BONDS) OF THE CITY OF CANTON, FULTON COUNTY, ILLINOIS,
TO FINANCE WATERWORKS AND SEWERAGE SYSTEM IMPROVEMENTS
PREAMBLES
WHEREAS, the City of Canton, Fulton County, Illinois
(the "Municipality"), operates its municipally-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 seg. of Chapter 65 of the
Illinois Compiled Statutes, as supplemented and amended,
including by the Local Government Debt Reform Act (collectively,
the "Act")]; and
WHEREAS, 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 and finance the
acquisition, construction and installation of a sludge press and
a sewer plant building for the sludge press (including any land
acquisition and related facilities, improvements and costs,
collectively, the "Project"), pursuant to the plans and
specifications therefor prepared by Crawford, Murphy & Tilly,
Inc., Springfield, Illinois, the consulting engineers concerning
the Project; and
WHEREAS, in connection with the estimated costs of the
Project, up to $1,800,000 in aggregate principal amount 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 as
the alternate revenue source rather than by any levy of taxes,
and the balance from other available funds, with respect to which
authorization is necessary to issue the same aggregate principal
amount of waterworks and sewerage revenue bonds (howsoever
styled, the "Revenue Bonds") and to issue up to the same
principal amount of general obligation bonds (waterworks and
sewerage revenues as the alternate revenue source) (howsoever
styled, the "Alternate Bonds"), provided, however, that only one
set of such obligations be issued: either Revenue Bonds or
Alternate Bonds in lieu of such Revenue Bonds; and
WHEREAS, costs of the Project are expected to be paid
from funds on hand and from proceeds of the 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
Alternate Bonds in lieu of the Revenue Bonds, prescribing the
details of such obligations and providing for the collection,
segregation, distribution and application of the revenues of the
System to pay the Alternate Bonds or Revenue Bonds, as the case
may be, in either case to be in lieu of any levy of taxes; and
WHEREAS, the Municipality has insufficient funds to pay
the costs of the Project and, therefore, must borrow money and
issue Revenue Bonds, to be included in an issue of Alternate
Bonds, if authorized to be issued in lieu of the Revenue Bonds,
in evidence thereof, at one time or from time to time and in one
or more series, in an approximate principal amount aggregating
not to exceed $1,800,000 for such purposes (Alternate Bonds and
Revenue Bonds combined not to exceed $1,800,000 in the
aggregate), pursuant to and in accordance with the provisions of
the Act.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
TSE 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, including in accordance
with the plans and specifications, as described above, and that
the System continue to be owned and operated as a combined
municipal waterworks and sewerage system in accordance with the
provisions of the Act, and that for such purposes there are
hereby authorized to be issued and sold not to exceed $1,800,000
in aggregate principal amount of Revenue Bonds, and the same
amount of Alternate Bonds in lieu of the Revenue Bonds (Alternate
Bonds and Revenue Bonds combined not to exceed $1,800,000 in the
aggregate).
Section 2. Publication and Notice. Within ten (10)
days after the adoption of this ordinance by the Corporate
Authorities, this ordinance, preceded by the notices hereinafter
described, shall be published in the Daily Ledqer, the same being
a newspaper (as described in the Notice by Publication Act, 715
ILCS 5/0.01 et seq.) published and of general circulation within
the Municipality, and (a) concerning the Alternate Bonds -- if no
petition, signed by not less than registered voters of the
Municipality numbering the greater of (i) 7.5% of the registered
voters in the Municipality or (ii) 200 of those registered voters
or 15% of those registered voters, whichever is less, is filed
with the Clerk of the Municipality within thirty (30) days after
the date of the publication of this ordinance, preceded by the
Alternate Bond notice hereinafter described, asking that the
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question of the issuance of the Alternate Bonds to pay the costs
of the Project, and related expenses, be submitted to the
electors of the Municipality, and/or (b) concerning the Revenue
Bonds -- if no petition signed by not less than the number of
electors equal to 10% of the number of registered voters in the
Municipality is filed with the Clerk of the Municipality within
thirty (30) days after the date of the publication of this
ordinance, preceded by the Revenue Bond notice hereinafter
described, asking that the question of the issuance of the
Revenue Bonds to pay the costs of the Project, and related
expenses, be submitted to the electors of the Municipality: then
this ordinance shall be in full force and effect, and the Revenue
Bonds, or the Alternate Bonds in lieu of such Revenue Bonds, as
the case may be, shall be authorized to be issued by this
ordinance and related proceedings supplemental to this ordinance.
If an applicable petition is filed, an election on the question
shall be held as set forth in the forms of the notices required
by Sections 5 and 15 of the Local Government Debt Reform Act, and
this ordinance shall not become effective as to the Revenue Bonds
and/or the Alternate Bonds, as the case may be, until the
applicable question or questions shall have been duly approved by
a majority of the votes cast on the applicable question or
questions at the election to be held as set forth in the
applicable notice or notices. The Clerk shall have available and
provide an applicable form of petition to any person requesting
one. The Clerk shall give notice of the foregoing provisions as
set forth in substantially the forms of such notices as are
presented at the meeting of the Corporate Authorities at which
this ordinance is adopted, modified as may be necessary for
completeness and to comply with the Act.
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 $1,800,000 in aggregate principal amount of the Revenue
Bonds, or the same amount of Alternate Bonds in lieu of such
Revenue Bonds, prescribing the details of such Alternate Bonds
and/or Revenue Bonds, providing for the collection, segregation,
distribution and application of the revenues of the System for
the payment thereof, and, in the case of the Alternate Bonds
providing for a levy of taxes as further security and source of
payment, although expected to be paid from System revenues and
not any levy of taxes. 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 and/or the Revenue Bonds under
applicable law (but in any event not to exceed $1,800,000 in
aggregate principal amount combined). Alternate Bonds are
expected to be issued in lieu of Revenue Bonds.
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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.
Upon motion by Alderman Sarff seconded by
Alderman ~Y adopted (and recorded in the
Municipality's records) on December 20th, 1994, by roll call
vote, as follows:
AYES ( names) : Aldermen James May, Jerry Bohler, Kevin Meade, Ln-y Sarff ,
Chester Philli s, Richard Coay.
NAYS (names): None,
ABSENT ( names) : Charles Chapman., Robert Molleck
Approved: December 20th, 1994
Attest:
Ci Cler City of Canton,
Fulton County, Illinois
1
/~~
Mayor, City of Canton, Fulton
County, Illinois
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s-"
,.
STATE OF ILLINOIS )
COUNTY OF FULTON ) SS
CITY OF CANTON )
Closing Item No.
CERTIFICATION OF ORDINANCE
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
"Municipality"), and as such official I am the keeper of the records and files
of the Municipality and of its City Council (the "Corporate Authorities").
I do further certify that the attached constitutes a full, true and
complete excerpt from the pproceedings of the regular meeting of the Corporate
Authorities held on the 2Uth day of December, 1994, insofar as same relates
to the adoption of Ordinance No. 14+6 entitled:
AN ORDINANCE AUTHORIZING THE ISSUANCE OF UP TO $1,800,000
WATERWORKS AND SEWERAGE REVENUE B0ND5 AND ALTERNATE REVENUE
SOURCE BONDS (IN LIEU OF SUCH REVENUE BONDS) OF THE CITY OF
CANTON, FULTON COUNTY, ILLINOIS, TO FINANCE WATERWORKS AND
SEWERAGE SYSTEM IMPROVEMENTS,
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.
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 Preliminary 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 nature 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 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 Preliminary Ordinance. petition(s) have been
received as mentioned in Section 2 of such Preliminary Ordinance, forms
thereof being at all relevant times available therefor. 3n Clerk's office.
IN WITNESS WI~REOF, I hereunto affix my official siggnature and the
seal of the City of Canton, Illinois, this 21st day of DeCember~ lgg 4,
(SEAL) Clerk
To: Clerk, City of Canton, Illinois.
ALTERNATE BONDS
PETITION
In accordance with and pursuant to Section 2 of Ordinance No. of the
City of Canton, Fulton County, Illinois (the "Municipality"), adopted December , 1994,
and entitled:
AN ORDINANCE AUTHORIZING THE ISSUANCE OF UP TO $1,800,000 WATERWORKS AND SEWERAGE
REVENUE BONDS AND ALTERNATE REVENUE SOURCE BONDS (IN LIEU OF SUCH REVENUE BONDS) OF
THE CITY OF CANTON, FULTON COUNTY, ILLINOIS, TO FINANCE WATERWORKS AND SEWERAGE
SYSTEM IMPROVEMENTS,
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 Alternate Bonds [General Obligation Bonds (Waterworks and Sewerage Revenues as
the Alternate Revenue Source)] in an aggregate principal amount not to exceed $1,800,000
to finance waterworks and sewerage system improvements, all as set forth in the above
ordinance, be submitted to the electors of the Municipality at the consolidated election
to be held on April 4, 1995, 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
4. Canton, IL
5. Canton, IL
6. Canton, IL
7. Canton, IL
8. Canton, IL
9. Canton, IL
10. Canton, IL
Statement: I, (Name, of (Address, Canton,
Illinois, hereby state that I am, and have been at all times I have circulated this
petition, 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.
Signature
State of Illinois ) The above Statement was subscribed and sworn to before me this
day of , 199_.
County of Fulton )
(SEAL) Notary Public
My Commission Expires:
Sheet of
To: Clerk, City of Canton, Illinois.
REVENUE BONDS
PETITION
In accordance with and pursuant to Section 2 of Ordinance No. of the
City of Canton, Fulton County, Illinois (the "Municipality"), adopted 1994,
and entitled:
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 in an aggregate principal amount not to exceed $1,800,000 to
finance waterworks and sewerage system improvements, all as set forth in the above
ordinance, be submitted to the electors of the Municipality at the consolidated election
to be held on April 4, 1995, 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.
AN ORDINANCE AUTHORIZING THE ISSUANCE OF UP TO $1,800,000 WATERWORKS AND SEWERAGE
REVENUE BONDS AND ALTERNATE REVENUE SOURCE BONDS (IN LIEU OF SUCH REVENUE BONDS) OF
THE CITY OF CANTON, FULTON COUNTY, ILLINOIS, TO FINANCE WATERWORKS AND SEWERAGE
SYSTEM IMPROVEMENTS,
Print Name Address
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
Canton, IL
Canton, IL
Canton, IL
Canton, IL
Canton, IL
Canton, IL
Canton, IL
Canton, IL
Canton, IL
Canton, IL
Canton, IL
Signature
Statement: I, (Namel, of fAddressl, Canton,
Illinois, hereby state that I am, and have been at all times I have circulated this
petition, 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)
My Commission Expires:
Signature
The above Statement was subscribed and sworn to before me this
day of 199,_.
Notary Public
Sheet of
°Alternate Bonds"), being general obligation in lieu of revenue
bonds, up to the amount of but in any event not to exceed
$1,800,000 in aggregate principal amount, bearing interest at not
to exceed the rate limitation provided by applicable law, to
finance certain waterworks and sewerage system improvements.
Although the Alternate Bonds are to be general obligation bonds,
they are to be paid from revenues of the Municipality's combined
waterworks and sewerage system as the alternate revenue source.
Alternate Bonds are to be issued, if at all, in lieu of (not in
addition to) the Revenue Bonds.
In addition, notice5~s hereby given that if a petition
signed by not less than electors of the Municipality
(numbering the greater of (i) 7.5% of the registered voters in
the Municipality or (ii) 200 of those registered voters or 15% of
those registered voters, whichever is less) requesting that the
question of the issuance of the Alternate Bonds and of
undertaking the above described project be submitted to the Clerk
within thirty (30) days of the date of publication hereof and of
the above described ordinance, such question shall be submitted
to the electors of the Municipality at the consolidated election
to be held on April 4, 1995, 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/
Cle k, Ci y of Canton,
Fulton, County, Illinois
Note to publisher: The full text of the ordinance is to follow
the above notices. Publish in order (and all run toaether)• the
Revenue Bonds notice first the Alternate Bonds notice second
and the ordinance third. Please check with the Cit Attorne 's
_(James J. Elson Esa ) office ( (309 ) 647-6622 ) as to any blanks
in the ordinance. Send your publication statement to City of
Canton, City Hall, 210 E Chestnut Street, Canton, Illinois
61520-2731 Attention: Mayor, and send two certificates of
publication and ad copy to Evans, Froehlich & Beth, 44 Main
Street, Third Floor, Champaign, Illinois, 61820.
(form of notices)
NOTICE OF INTENT TO ISSUE BONDS
AND RIGHT TO FILE PETITION
[REVENUE BONDS]
1446 Notice is hereby given that pursuant to Ordinance No.
adopted at a regular meeting of the City Council on
December 201, 199 n, the City of Canton, Fulton County, Illinois
(the Municipality ), intends to issue its waterworks and
sewerage revenue bonds (howsoever styled, the "Revenue Bonds")
up to the amount of but in any event not to exceed $1,800,000 in
aggregate principal amount, bearing interest at not to exceed the
rate limitation provided by applicable law, to finance waterworks
and sewerage system improvements. The Revenue Bonds are to be
payable solely and only from enterprise revenues derived from the
Municipality's combined waterworks and sewerage system and shall
not constitute a debt of the Municipality under applicable law.
Authorization for Revenue Bonds is a prerequisite to issuing
Alternate Bonds.
In addition, notice,~~s hereby given that if a petition
signed by not less than // electors of the Municipality
(numbering 10% of the registered voters in the Municipality)
requesting that the question of the issuance of the Revenue Bonds
and of undertaking the above described project be submitted to
the 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 project and of the issuance of such Revenue
Bonds shall be submitted to the electors of the Municipality at
the consolidated election to be held on April 4, 1995, 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/ t,
Clerk, C' y of Canton,
Fulton, unty, Illinois
NOTICE OF INTENT TO ISSUE BONDS
AND RIGHT TO FILE PETITION
[ALTERNATE BONDS]
1446 Notice is hereby given that pursuant
adopted at a regular meeting of the
December nth; 1994, the City of Canton, Fulton
(the "Municipality"), intends to issue its
sewerage revenue alternate bonds (howsoev~
to Ordinance No.
City Council on
County, Illinois
waterworks and
'r styled, the
LAW OFFICES
,DAMES j. ELSON
CHARTERED
JAMES J. ELSON 1522 EAST ASH STREET
JAMES J. ELSON, JR. CANTON, ILLINOIS 61520-1595
(309)647-6622
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