HomeMy WebLinkAboutS9-01 Ordinance No. S9-01
AN ORDINANCE
AUTHORIZING THE ESTABLISHMENT OF TAX INCREMENT FINANCING
"INTERESTED PARTIES" REGISTRIES AND ADOPTING REGISTRATION RULES
FOR SUCH REGISTRIES
WHEREAS, the City of Elgin is a home rule municipality as
described in Section 6 (a) , Article VII of the 1970 Constitution of
the State of Illinois, and as such may exercise any power and
function pertaining to its government and affairs;
WHEREAS, pursuant to Section 11-74 .4-4 .2 of the Tax Increment
Allocation Redevelopment Act, 65 ILCS 5/11-74 . 4-1, et seq. (the
"TIF Act" ) , the City is required to establish certain "interested
parties" registries and adopt registration rules for such
registries;
WHEREAS, the City desires to adopt this ordinance in order to
comply with such requirements of the TIF Act;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF ELGIN, ILLINOIS, as follows :
Section 1 . The above recitals are incorporated herein and
made a part hereof .
Section 2 . The City Clerk or her designee, is hereby
authorized and directed to create an "interested parties" registry
in accordance with Section 11-74 .4-4 . 2 of the Act for each
redevelopment project area created under the Act and not terminated
by the City, whether now existing or created after the date of the
adoption of this ordinance.
Section 3 . In accordance with Section 11-74 .4-4 . 2 of the Act,
the City hereby adopts the registration rules attached hereto as
Exhibit A as registration rules for each such "interested parties"
registry. The City with the consent of the Corporation Counsel as
to form and legality, shall have the authority to amend such
registration rules from time to time as may be necessary or
desirable to comply with and carry out the purposes intended by the
Act .
Section 4 . If any provision of this ordinance shall be held
to be invalid or unenforceable for any reason, the invalidity or
unenforceability of such provision shall not affect any of the
other provisions of this ordinance.
Section 5 . All ordinances, resolutions, motions or orders in
conflict with this ordinance are hereby repealed to the extent of
such conflict .
Section 6 . This ordinance shall be in full force and effect
immediately upon its passage .
Ed Schock, Mayor
Presented: June 27, 2001
Passed: June 27, 2001
Omnibus Vote : Yeas : 7 Nays : 0
Recorded: June 28, 2001
Published:
Attest :
4\ Qc.t4.W-
Dolonna Mecum, City Clerk