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Record #: O2016-7989   
Type: Ordinance Status: Passed
Intro date: 11/1/2016 Current Controlling Legislative Body: Committee on Finance
Final action: 11/16/2016
Title: Property tax levy for Year 2017
Sponsors: Emanuel, Rahm
Topic: TAXES/TAX LEVIES - Levies - 2017
Attachments: 1. O2016-7989.pdf, 2. O2016-7989 (V1).pdf
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 for the year 2017, pursuant to its powers granted by the constitution and laws of the State of Illinois; and

WHEREAS, it is now appropriate and in the best interests of the City of Chicago to enact its tax levy for the year 2017, to become effective as provided herein; and

WHEREAS, it is appropriate that the tax levy for the year 2017 receive expeditious consideration by the City Council; now, therefore,

BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:


SECTION 1. The sum of One Billion, Three Hundred Fifty-Seven Million, Eight Hundred Thirty-Four Thousand Dollars ($1,357,834,000) 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 2017, is hereby levied for the year 2017 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 2017, annexed to 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, 2017, and Ending December 31, 2017

Code Description Amounts Appropriated Amounts Levied
Amounts to be levied in 2017 for the payment of bonds, notes and interest on bonds and notes
$450,651,000 $214,790,000 $15,919,000
$382,079,000 $0
$15,919,000
Bond Redemption and Interest Fund - 0510
2005.0902 For...

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