Office of the City Clerk - Record #: O2015-8875

• Record #: O2015-8875
• Type: Ordinance
• Status: Passed
• Intro date: 12/9/2015
• Current Controlling Legislative Body: Committee on Finance
• Final action: 12/9/2015
• Title: Termination of Special Service Area No. 1, State Street, establishment of Special Service Area No. 1-2015,State Street, imposition of tax levy, approval of budget and execution of service provider agreement (Year 2016)
• Sponsors: Dept./Agency
• Topic: SPECIAL SERVICE AREAS - S.S.A. No. 1 (State Street (Loop)), - SPECIAL SERVICE AREAS - S.S.A. No. 1-2015 (State Street)

Date	Journal Page Number	Action By	Action	Result
12/11/2015		City Council	Published in Special Pamphlet
12/9/2015	14717	City Council	Passed	Pass
12/7/2015		Committee on Finance	Recommended to Pass
12/7/2015		Committee on Finance	Direct Introduction

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 (the "Act") and pursuant to the Property Tax Code, 35 ILCS 200/1-1 et seq., as amended from time to time (the "Code"); and
WHEREAS, on July 7, 1977, the City Council ofthe City of Chicago (the "City Council") enacted an ordinance, as amended by an ordinance enacted by the City Council on November 17, 1993, as further amended by an ordinance enacted by the City Council on December 21, 1994, as further amended by an ordinance enacted by the City Council on December 11,1996, which established an area known and designated as City of Chicago Special Service Area Number 1 (the "Original Area") and authorized the levy of an annual tax not to exceed an annual rate of .405 percent (.405%) of the equalized assessed value of the taxable property therein (the "Original Services Tax") to provide certain special services in and for the Original Area in addition to the services provided by and to the City of Chicago generally; and
WHEREAS, the City now desires to terminate the authorization ofthe levy of the Original Services Tax in the Original Area; and
WHEREAS, the City Council determines that it is in the best interests ofthe City of Chicago (the "City") to establish a new special service area to be known and designated as Special Service Area Number 1-2015 (the "Area") to provide certain special governmental services in addition to services provided generally by the City, all as further provided in this ordinance (the "Special Services"), and further determines to authorize the levy of an annual ad valorem real property tax in the Area for a period of fifteen (15) years sufficient to produce revenues required to provide those Special Services (the "Services Tax"); and
WHEREAS, the City Council desires-to...