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Type:
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Ordinance
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Status:
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Passed
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Title:
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Supplemental property tax levy for Year 2015
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Topic:
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TAXES/TAX LEVIES - Levies - 2015
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Attachments:
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1. O2015-7393.pdf
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OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
October 14,2015
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request of the Budget Director, I transmit herewith ordinances authorizing a Supplemental Tax Levy for 2015 and Tax Levies for 2016, 2017 and 2018.
Your favorable consideration of these ordinances will be appreciated.
Very truly yours,
Mayor
ORDINANCE
WHEREAS, the City of Chicago is a home rule unit of government as defined in Article VII, Section 6 (a) of the Illinois Constitution, and, as such, may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, the City has adopted its annual appropriation ordinance and tax levy for the year 2015, pursuant to its powers granted by the constitution and laws of the State of Illinois; and
WHEREAS, the City has supplemented its annual appropriation ordinance for the year 2015, because it has become necessary to appropriate additional funds for the Policemen's Annuity and Benefit Fund and Firemen's Annuity and Benefit Fund based on the impending increase in employer contributions to these funds mandated by State law; and
WHEREAS, it is now appropriate and in the best interests of the City of Chicago to supplement its tax levy for the year 2015, to become effective as provided herein, in order to provide the requisite increase for the Policemen's Annuity and Benefit Fund of $221,907,000, and for the Firemen's Annuity and Benefit Fund of $96,249,000; and
WHEREAS, it is appropriate that the supplemental tax levy for the year 2015 receive expeditious consideration by the City Council; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. The appropriated and levied sums shown below represent totals, meaning the sum of the original and supplemental levy amounts.
SECTION 2. The sum of One Billion, One Hundred Eighty-Six Million, Three Hundred Twelve Thousand Dollars ($1,186,312,000), ascertained by the City Council as the total amount of appropriations heretofore legally made for all corporate purposes to be provided for by the tax levy of the year 2015, as supplemented by this ordinance, is hereby levied for the year 2015 upon all property within the City of Chicago subject to taxation. The purposes for which appropriations have been made and the amounts appropriated for such purposes, respectively, are hereinafter specified in detail in the manner authorized for the annual appropriation ordinance for the year 2015, as supplemented, incorporated by reference into and made a part of this ordinance. The amounts appropriated and levied for each of said purposes, respectively, are set forth below in separate columns.
Appropriations for Expenditures and Amounts Levied for the Fiscal Year Beginning January 1, 2015, and Ending December 31, 2015
Amounts Appropriated
Amounts Levied
Amounts to be levied in 2015 for the payment of bonds, notes and interest on bonds and notes
Bond Redemption and Interest Fund - 0510
2005.0902 For interest on first lien bonds 2005.0912 For payment of bonds 2005.096 For loss in collection of taxes
$429,495,000 $176,121,600 $179,544,000 $179,544,000 $14,819,000 $14,819,400
$623,858,000 $370,485,000
Specific Purposes - Financial
Total from Bond Redemption and Interest Fund 0510
Bond Redemption and Interest Fund - 0509
2005.0961 For payment of term notes 2005.096 For loss in collection of taxes
$19,308,000 $805,000
$19,308,000 $805,000
Specific Purposes - Financial
Total from Bond Redemption and Interest Fund 0509
Code Description
Library Bond Redemption Fund - 0516
2005.0902 For interest on first lien bonds 2005.0912 For payment of bonds 2005.096 For loss in collection of taxes
Amounts Appropriated
$2,706,000 $1,460,000 $173,000
Amounts Levied
$2,706,000 $1,421,000 $173,000
Specific Purposes - Financial
Total from Library Bond Redemption Fund 0516
Code Description
Library Note Redemption and Interest Fund Tender Notes Series B - 0521
2005.0961 For payment of term notes
2005.096 For loss in collection of taxes
Amounts Levied
Amounts Appropriated
$75,994,000 $74,491,000 $3,104,000 $3,104,000
Specific Purposes - Financial
Total from Library Note Redemption and Interest Fund Tender Notes Series B - 0521
City Colleges Bond Redemption and Interest Fund- 0549
2005.0902 For interest on first lien bonds
2005.0912 For payment of bonds
$22,457,000 $22,457,000 $12,713,000 $12,713,000
For loss in collection of taxes
$1,462,000 $1,462,000
Specific Purposes - Financial
Total from City Colleges Bond Redemption and Interest Fund -0549
Code
2005.0976 2005.0976
Description
Municipal Employees' Annuity and Benefit Fund -0681
For the city's contribution to employees' annuity and benefit fund
For the library's contribution to employees' annuity and benefit fund
Amounts Levied
Amounts Appropriated
$237,400,000 $119,406,000
$5,300,000 $5,300,000
$242,700,000 $124,706,000
Specific Purposes - Financial
Total from Municipal Employees' Annuity and Benefit Fund-0681
Description
Laborers' and Retirement Board Employees' Annuity and Benefit Fund - 0682
For the city's contribution to employees' annuity and benefit fund
Amounts Levied
Amounts Appropriated
$24,019,000 $11,070,000
Specific Purposes - Financial
Total from Laborers' and Retirement Board Employees' Annuity and Benefit Fund- 0682
Description
Policemen's Annuity and Benefit Fund - 0683
For the city's contribution to employees' annuity and benefit fund
Amounts Appropriated
$420,000,000 $361,987,000
$420,000,000 $361,987,000
Specific Purposes - Financial
Total from Policemen's Annuity and Benefit Fund- 0683
„ , .-v • Amounts Amounts
Code Description , . ^ , . ,
Appropriated Levied
Firemen's Annuity and Benefit Fund - 0684
2005.0976 [°r t]lefy'S co»triblItion 10 employees' annuity and $,99,000,000 $179,424,000
benefit fund
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Specific Purposes - Financial
Total from Firemen's Annuity and Benefit Fund- $199,000,000 $179,424,000
0684
Total $1,649,759,000 $1,186,312,000
SECTION 3. In no event shall the amount levied for any purpose, as set forth in Section 1 hereof, exceed the amount appropriated for such purpose as set forth in the annual appropriation ordinance adopted for the year 2015, as supplemented.
SECTION 4. No later than ten days after its effective date, the City Clerk shall file with the County Clerk of Cook County and the County Clerk of DuPage County certified copies of this ordinance together with copies of the corresponding supplements to the annual appropriation ordinance for the year 2015.
SECTION 5. This ordinance shall be in full force and effect from and after its passage and approval.
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