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Record #: O2015-7212   
Type: Ordinance Status: Passed
Intro date: 9/24/2015 Current Controlling Legislative Body: Committee on Finance
Final action: 9/24/2015
Title: Public hearing(s) on termination of Special Service Area No. 1 and establishment of Special Service Area No. 1-2015, State Street
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)
Attachments: 1. O2015-7212.pdf
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, on July 7, 1977, the City Council of the 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 of the levy of the Original Services Tax in the Original Area; and

WHEREAS, the City Council finds (a) that it is in the public interest that consideration be given to (i) terminating the authorization of the levy of the Original Services Tax for the Original Area, (ii) the establishment of a new area to be known and designated as City of Chicago Special Service Area Number 1-2015 (the "Area") and (iii) the authorization of a special annual services tax (the "Services Tax") for a period of fifteen (15) years within the Area for the provision of certain special services as set forth herein; (b) that the Area is contiguous; and (c) that the proposed special services are in addition to municipal servic...

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