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Home My WebLink AboutG28-95 Recorded Kane 9 5 K 0 2 6 0 9 4 I 2: 45 FECC DOER` State of Illinois) County of Kane ) ss . City of Elgin CERTIFICATE OF CITY C ERK I, Dolonna Mecum, DO HEREBY CDRTIFY that I am the City Clerk of the City of Elgin, in the Counties of Kane and Cook in the state of Illinois, and that as such City Clerk I am the keeper and custodian of the file- 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 :.ntrusted to my care for safe keeping. In Witness Whereof, I have he , eunto set my hand and affixed the corporate seal of the City of Elgin at the said City in the County and State aforesaid his May 11, 1995 . City Clerk tD (SEAL) c_n p 2.7) hJ -70 CD CD tD This instrument prepared by: Return to: Erwin Jentsch Dolonna Mecum Corporation Counsel Elgin City Clerk 00/ City of Elgin 150 Dexter Court U�� 150 Dexter Court Elgin, IL 60120 Elgin, IL 60120 Ordinance No. G28-95 AN ORDINANCE REPEALING THE REAL ESTATE TRANSFER T'X AND PROVIDING FOR A REAL ESTATE TRANSFER STAMP REQUIREMENT 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 tai; 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 •rdinance and providing for a real estate transfer stamp requi ement in lieu thereof; and WHEREAS, experience with the re. l estate transfer tax ordinance and the requirement of a real 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 enforcing the ordinances of the city; and WHEREAS, the City of Elgin is a h•me 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 :.xercise 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 uD code, 1976 , as amended, be and is hereby amended in its Cfl entirety to read as follows : 3: CD "Chapter 4 . 26 tV CO REAL ESTATE TRANSFER STAMP CD CID 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 ben:ficiaries of such land trust. "Person" : Any natural person, r:ceiver, administrator, executor, conservator, assignee, trust in perpetuity, trust, estate, firm, copartnership, joint v:nture, club, company, joint stock company, business trust, municipal corporation, political subdivision of the State of Illinois, domestic or foreign corporation, association, syndicate, society or any group of individuals acting as a nit, whether mutual, cooperative, fraternal, nonprofit, o otherwise, and the United States or any instrumentality thereof . Whenever the term "person" is used in any clause pre_cribing and imposing a penalty, the term as applied to associations 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 Regis rar of Titles of Cook County, Illinois . 4 . 26 . 020 Real Estate Transfer Stamp Re.uirement. 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 owner with the beneficial interest in or legal title to said property or merely the possession or use thereof for any purp.se or to secure future payment of money or the future transfer 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 oi interest of any real property, whether investing the owner 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 VD as provided herein. cn B. Such real estate transfer s •amp shall be issued by CD the finance director for the city an. shall be available at N g and duringthe regular business hours of the city offices or CD at other locations designated by the inance 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 perfo ating with a machine or punch. However the real estate transf:•r stamp shall not be so defaced as to prevent ready determinati.n of its genuineness . 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 t e property to which it relates, including permanent index n tuber 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 conditions 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 ordina ce; 3 . Any other violation of t e Elgin Municipal Code; 4 . Failure to have a final read 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 of 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 loc-ted in the city without first obtaining a real estate transfer stamp from the assignor CD and assignee and unless a transfer sta p as set forth in this N chapter has been affixed to the assignm-nt. CD CD 4 . 26 . 050 Violation--Penalty. CD It is unlawful for any person a. seller or grantor to fail to obtain and affix a real estate 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 .y a fine of not less than $200 nor more than $1,000 . 4 . 26 . 060 Severability. If any provision, clause, sentenc- , paragraph, section, or part of this chapter or application thereof to any person or circumstance, shall for any reason .e adjudged by a court of competent jurisdiction to be uncons itutional or invalid, said judgment shall not affect, imp. ir or invalidate the remainder of this section and the application of such provision to other persons or circum..tances, but shall be confined in its operation to the provi- ion, clause, sentence, paragraph, section or part thereof directly involved in the controversy in which such judgment sh. 11 have been rendered and to the person or circumstances in olved. It is hereby declared to be the legislative intent o the city council that this chapter would have been adopted ha. such unconstitutional or invalid provisions, clause, sentence paragraph, section or part thereof not been included. " 4 .26 . 070 Effective Date. The provisions of this chapter shall be in full force and effect from and after June 1, 1995 . " Section 2 . That all ordinances or 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 UD Recorded: May 11, 1995 Published: May 11, 1995 CD Attest: CD CD uD s/ Dolonna Mecum F-. Dolonna Mecum, City Clerk 4