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; and
WHEREAS, on December 7, 2005, the City Council of the City of Chicago (the "City Council") enacted an ordinance (the "Original Ordinance") which established an area (the "Original Area"), known and designated as City of Chicago Special Service Area Number 38 and authorized the levy of an annual tax for the period beginning in tax year 2005 through and including tax year 2014 (the "Initial Period"), not to exceed an annual rate of one hundred sixty four thousandths of one percent (0.164%) 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 (the "Original Special Services"); and
WHEREAS, on December 10, 2014, the City Council enacted an ordinance (the "Enlargement Ordinance") which (i) enlarged the boundaries of the Original Area (as enlarged, the "Area"), (ii) authorized certain special services in the Area distinct from the Original Special Services (the "Special Services"), (iii) authorized an increase in the maximum annual rate of the levy to provide the Special Services to an amount not to exceed 0.333% of the equalized assessed value of the taxable property within the Area (the "Services Tax"), and (iv) authorized the extension of the time period for which the levy of the Services Tax is authorized within the Area from the Initial Period to a period from tax year 2014 through and including tax year 2028; and
WHEREAS, the Original Ordinance and the Enlargement Ordinance are herein collectively referr...
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