Office of the City Clerk - Record #: O2016-6429

• Record #: O2016-6429
• Type: Ordinance
• Status: Passed
• Intro date: 9/14/2016
• Current Controlling Legislative Body: Committee on Finance
• Final action: 10/5/2016
• Title: Public hearing(s) on establishment of Special Service Area No. 72, The Village: Austin Chicago Avenue Cultural Corridor
• Sponsors: Emanuel, Rahm
• Topic: SPECIAL SERVICE AREAS - S.S.A. No. 72

Date	Journal Page Number	Action By	Action	Result
10/24/2016		City Council	Signed by Mayor
10/5/2016	32668	City Council	Passed	Pass
9/30/2016		Committee on Finance	Recommended to Pass	Pass
9/14/2016	29684	City Council	Referred

PUBLIC HEARING ORDINANCE



WHEREAS, special service areas may be established pursuant to Article VII, Sections 6(1) and 7(6) of the Constitution of the State of Illinois, and pursuant to the provisions of the Special Service Area Tax Law, 35 ILCS 200/27-5 et seq., as amended from time to time, and pursuant to the Property Tax Code, 35 ILCS 200/1-1 et seq., as amended from time to time (the "Property Tax Code"); and

WHEREAS, the City Council of the City of Chicago (the "City Council") finds that it is in the public interest that consideration be given to the creation of an area within the City of Chicago to be known and designated as Special Service Area Number 72 (the "Area") and to the authorization of the levy of a special annual services tax (the "Services Tax") for a period of ten (10) years within the Area for the purposes set forth herein; that the Area is contiguous; and that said special services are in addition to municipal services provided by and to the City of Chicago generally, and it is, therefore, in the best interests of the City of Chicago that the creation of the Area and the levy of the Services Tax within the Area for the services to be provided be considered; now, therefore,

Be It Ordained by the City Council of the City of Chicago:

SECTION 1. The preambles of this ordinance are hereby incorporated into this text as if set out herein in full.

SECTION 2. A public hearing shall be held by the Committee on Finance of the City Council of the City of Chicago at the City Council Chambers, City Hall, Chicago, Illinois (the "Hearing") to consider the creation of the Area and the authorization of the levy of the Services Tax. At the Hearing there will be considered the levy of the Services Tax upon the taxable property within the Area sufficient to produce revenues required to provide special services in the Area. The Services Tax shall not exceed the annual sum of 1.750 percent of the equalized assessed value of the taxable property within the Area...