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Record #: O2015-7393   
Type: Ordinance Status: Passed
Intro date: 10/14/2015 Current Controlling Legislative Body: Committee on Finance
Final action: 10/28/2015
Title: Supplemental property tax levy for Year 2015
Sponsors: Emanuel, Rahm
Topic: TAXES/TAX LEVIES - Levies - 2015
Attachments: 1. O2015-7393.pdf
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 ($1,186,312,0...

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