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HomeMy WebLinkAboutG28-95 Recorded Cook Ir ' a COOK COUNTY 95373113_ . RECORDER 'JESSE WHITE ROLLING MEADOWS h; _KORO.r k5 29.00 fr i.l.. 0.50 State of Illinois) ,:.,53731n, County of Kane ) ss . City of Elgin ) CERTIFICATE OF CITY CT .RK I , Dolonna Mecum, DO HEREBY CERTIFY that I am the City Clerk of the City of Elgin, in the ounties of Kane and' Cook in the state of Illinois, and that as such City Clerk I am the keeper and custodian of the files and records of said City of Elgin and the seal thereof . I DO FURTHER CERTIFY that the attached is a full, true, and correct copy of Ordinance No. G28-95 entitled "An Ordinance Repealing the Real Estate Tra sfer Tax and Providing for a Real Estate Transfer St.mp Requirement" passed by the Elgin City Council at its meeting held on May 10, 1995, the original of which is Intrusted to my care for safe keeping. In Witness Whereof, I have hereunto set my hand and affixed the corporate seal of the City if Elgin at the said City in the County and State aforesaid 'his May 11, 1995 . 6 it' es -/ A.L.-c..44--, City C erk (SEAL) 1 4y is9% 95373113 This instrument prepared by: % Return to: Erwin Jentsch Dolonna Mecum Corporation Counsel Elgin City Clerk City of Elgin 150 Dexter Court 150 Dexter Court Elgin, IL 60120 Elgin, IL 60120 ,.-i,S' r_ '3,S Ordinance No. G28-95 AN ORDINANCE REPEALING THE REAL ESTATE TRANSFER TA AND PROVIDING FOR A REAL ESTATE TRANSFER STAMP 'EQUIREMENT WHEREAS, on April 27 , 1994, the C' ty Council of the City of Elgin adopted Chapter 4 . 26 of the Elgin Municipal Code, providing for a real estate transfer tax; and WHEREAS, the City Council has sinc- determined that it is necessary and desirable to amend said ordinance by deleting the provisions of the tax within said ordinance and providing for a real estate transfer stamp requi ement in lieu thereof; and WHEREAS, experience with the real estate transfer tax ordinance and the requirement of a rea estate transfer stamp has shown that a real estate transfer stamp is an efficient and effective means in collecting fee-. and other monies due and owing the city and otherwise enfo cing the ordinances of the city; and WHEREAS, the City of Elgin is a ho e rule municipality as defined in Article 7 Section 6a of t e 1970 Constitution of the State of Illinois; and WHEREAS, a home rule unit may exercise any power and perform any function pertaining to its government and affairs; and WHEREAS, providing for a real estate transfer stamp requirement pertains to the government and affairs of the City of Elgin. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS: Section 1 . That Chapter 4 . 26 o the Elgin Municipal code, 1976 , as amended, be and is hereby amended in its entirety to read as follows : "Chapter 4 . 26 REAL ESTATE TRANSFER STAMP 95373113 4 . 26 . 010 Definitions. "Beneficial Interest" : Any inte est, regardless of how small or minimal such interest may be in a land trust, held by a trustee for the benefit of beneficiaries of such land trust. • "Person" : Any natural person, receiver, administrator, executor, conservator, assignee, trust in perpetuity, trust, estate, firm, copartnership, joint ye' ture, club, company, joint stock company, business trust, unicipal corporation, political subdivision of the State of Illinois, domestic or foreign corporation, association, synd cate, society or any group of individuals acting as a nit, whether mutual, cooperative, fraternal, nonprofit, o • otherwise, and the United States or any instrumentality whereof . Whenever the term "person" is used in any clause pre .cribing and imposing a penalty, the term as applied to assoc ations shall mean the owners or part-owners thereof, and as a•plied to corporations, the officers thereof . "Recordation" : The recording of d •eds with the Office of the Recorder of Deeds of Cook or Kane County or the Registration of Deeds with the Registrar of Titles of Cook County, Illinois . 4 . 26 . 020 Real Estate Transfer Stamp Re.iuirement. A. A real estate transfer stamp requirement is imposed on the transfer of title to real estate located in the city as evidenced by the recordation of a deed .y any person or by the delivery of any deed or assignment of interest of said real property, whether investing the owne with the beneficial interest in or legal title to said property or merely the possession or use thereof for any purpose or to secure future payment of money or the future t ansfer of such real property. No person shall transfer title to real estate located in the city by recordation of a deed or by the delivery of any deed or assignment ol interest of any real property, whether investing the ownel with the beneficial interest in or legal title to said .roperty or merely the possession or use thereof for any purp.se or to secure future payment of money or the future tran_ fer of any such real property without first obtaining a real estate transfer stamp as provided herein. B. Such real estate transfer swamp shall be issued by the finance director for the city an. shall be available at and during the regular business hours of the city offices or at other locations designated by the Finance director. Upon application for and the issuance of t e real estate transfer stamp, the stamp so issued shall be affixed to the deed or other instrument of conveyance. An, person so using and affixing a real estate transfer stamp or stamps shall cancel it and so deface it as to render it un it for reuse by marking it with his initials and the day, m.nth and year when the affixing occurs . Such marking shall be made by writing or stamping in indelible ink or by perforating with a machine or punch. However the real estate transf -r stamp shall not be so defaced as to prevent ready determination of it§1 ru,� ��s . 2 C. Applications for real estate transfer stamps shall be made on a form prescribed by the f nance director. Such application shall show the date of th: transaction which it evidences, the names of the grantor a d grantee, the common address and the legal description of th- property to which it relates, including permanent index n mber of the property which is the subject of the transfer. D. The finance director may refu-e to issue real estate transfer stamps if any of the following onditions exist: 1 . Outstanding sum of money due the city from the property or property owner; 2 . Failure to license rent. l property subject to the city' s rental licensing ordinan e; 3 . Any other violation of t e Elgin Municipal Code; 4 . Failure to have a final ead of the water meter or failure to have made final p-yment on any water or sewer bill. E . For the purpose of review'ng requests for real estate transfer stamps, the city sha 1 process the request within three ( 3) working days . 4 . 26 . 030 Deeds . Every deed shall show the date oi the transaction which it evidences, the names of the gran or and grantee, and a legal description of the property to which it relates, including permanent index number of th- property which is the subject of the transfer. 4 . 26 . 040 Transfers in Trust. No trustee of real estate shall accept an assignment of beneficial interest in real estate located in the city without first obtaining a real estate transfer stamp from the assignor and assignee and unless a transfer st.mp as set forth in this chapter has been affixed to the assignm-nt. 4 . 26 . 050 Violation--Penalty. 95373113 It is unlawful for any person . s seller or grantor to fail to obtain and affix a real estaue transfer stamp herein provided, or for any purchaser or grantee to accept a conveyance where the real estate tran- fer stamp has not been obtained and affixed. Any person found guilty in a court of competent jurisdiction of violating disobeying, omitting, neglecting or refusing to comply with or resisting or opposing the enforcement of any provision of this chapter upon 3 conviction thereof, shall be punished by a fine of not less than $200 nor more than $1,000 . 4 . 26 . 060 Severability. If any provision, clause, senten«e, paragraph, section, or part of this chapter or applicatio thereof to any person or circumstance, shall for any reason be adjudged by a court of competent jurisdiction to be uncon-titutional or invalid, said judgment shall not affect, impair or invalidate the remainder of this section and the application of such provision to other persons or circu stances, but shall be confined in its operation to the provi-ion, clause, sentence, paragraph, section or part thereof di ectly involved in the controversy in which such judgment shall have been rendered and to the person or circumstances i volved. It is hereby declared to be the legislative intent of the city council that this chapter would have been adopted h.d such unconstitutional or invalid provisions, clause, sentenc., paragraph, section or part thereof not been included. " 4 . 26 . 070 Effective Date. The provisions of this chapter sh. 11 be in full force and effect from and after June 1, 1995 . " Section 2 . That all ordinances o parts of ordinances in conflict with the provisions of this ordinance be and are hereby repealed. s/ K-vin Kell Kevin Kelly, Mayor Presented: May 10, 1995 Passed: May 10, 1995 Vote: Yeas 7 Nays 0 Recorded: May 11, 1995 Published: May 11, 1995 Attest: 95373113 s/ Dolonna Mecum Dolonna Mecum, City Clerk 4