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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 ($1,186,312,000), 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

 

Code

Description

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

 

$20,113,000 $20,113,000

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

 

$4,339,000

$4,300,000

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

 

$79,098,000 $77,595,000

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

 

2005.096

For loss in collection of taxes

$1,462,000 $1,462,000

 

$36,632,000 $36,632,000

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

 

Code

2005.0976

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

 

$24,019,000 $11,070,000

Specific Purposes - Financial

Total from Laborers' and Retirement Board Employees' Annuity and Benefit Fund- 0682

 

Code

2005.0976

Description

Policemen's Annuity and Benefit Fund - 0683

For the city's contribution to employees' annuity and benefit fund

Amounts Levied

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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