SUBSTITUTE 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, the City Council of the City of Chicago (the "City Council") determines that it is in the best interests of the City of Chicago (the "City") to establish a special service area to be known and designated as Special Service Area Number 73 (the "Area") to provide certain special governmental services in addition to services provided generally by the City, all as further provided in this ordinance (the "Special Services"), and further determines to authorize the levy of an annual ad valorem real property tax in the Area for a period of ten (10) years sufficient to produce revenues required to provide those Special Services (the "Services Tax"); and
WHEREAS, the City Council desires to authorize the execution of an agreement with a service provider for the provision of the Special Services in and for the Area in fiscal year 2018; now, therefore,
Be It Ordained by the City Council of the City of Chicago:
SECTION 1. Incorporation of Preambles. The preambles of this ordinance are hereby incorporated into this text as if set out herein in full.
SECTION 2. Findings. The City Council finds and declares as follows:
The Area, as established by this ordinance, consists of contiguous territory in the
City;
The City Council adopted an ordinance on October 11, 2017 authorizing a public hearing (the "Public Hearing") to consider the establishment of the Area and the levy of the Services Tax on the taxable property located in the Area to provide the Special Services;
Notice of the Public Hearing was given by publication at least once not less than fifteen days prior to the hearing i...
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