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 October 28, 1997, the City Council of the City of Chicago (the "City Council") enacted an ordinance which established an area known and designated as City of Chicago Special Service Area Number 19 (the "Initial Area") and authorized the levy of an annual tax, for the period beginning in 1997 through and including 2006 in an amount not to exceed an annual rate of one percent (1%) of the equalized assessed value of the taxable property therein (the "Initial Levy Period") to provide certain special services in and for the Initial Area in addition to the services provided by and to the City of Chicago generally; and
WHEREAS, the Initial Levy Period expired; and
WHEREAS, on November 8, 2006, the City Council enacted an ordinance (the "Establishment Ordinance") which reestablished an area known and designated as City of Chicago Special Service Area Number 19 (the "Area") and authorized the levy of an annual tax, for the period beginning in tax year 2006 through and including tax year 2020, not to exceed an annual rate of 0.833% of the equalized assessed value of the taxable property therein (the "Services Tax") to provide certain special services in and for the Area in addition to the services provided by and to the City of Chicago generally (the "Special Services"); and
WHEREAS, certain funds in Fund 155 ("Fund 155") in the amount of $63,657 are available for use in connection with the Area; and
WHEREAS, the Establishment Ordinance established the Area fronting wholly or in part along Howard Street from Ridge Avenue to Sheridan Road; Paulina Street, from Rogers Avenue to Jon...
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