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 November 1, 2006, the City Council of the City of Chicago (the "City Council") enacted an ordinance (the "Original Ordinance") which established an area known and designated as City of Chicago Special Service Area Number 43 (the "Area") and authorized the levy of an annual tax, for the period beginning in tax year 2006 through and including tax year 2015 (the "Original Period") not to exceed an annual rate of 0.40% of the equalized assessed value of the taxable property therein (the "Original 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 "Original Special Services"); and
WHEREAS, on December 10, 2014, the City Council enacted an ordinance (the " Levy Extension Ordinance") which (i) authorized certain special services in the Area distinct from the Original Special Services (the "Special Services"), (ii) increased the maximum rate of the Original Services Tax from an annual rate of 0.40% to 1.5% of the equalized assessed value of the taxable property within the Area (the "Services Tax"), and (iii) authorized the extension of the Original Period and of the levy of the Services Tax for the provision of the Special Services in the Area for a period through and including tax year 2028; and
WHEREAS, the Original Ordinance and the Levy Extension Ordinance are herein collectively referred to as the "Establishment Ordinance"; and
WHEREAS, certain funds in Fund A20 ("Fund A20") in the amount of $0 are available for use in connection with the Area; and
WHEREAS, the Establishm...
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