T7-81 Ordinance No. T7-81
AN ORDINANCE
DECLARING THAT ANY DEFICIENCY BETWEEN THE COST
OF THE LOCAL IMPROVEMENT KNOWN AS SPECIAL ASSESSMENT
NUMBER 77 TX 2747 (WESTERN AREA NO. 1) AND THE
ASSESSMENT CONFIRMED SHALL BE PAID FROM THE PUBLIC BENEFIT FUND
WHEREAS, on January 7, 1981 an order of confirmation was entered by the
Circuit Court of Kane County wherein assessments were confirmed in the
aggregate amount of $1,924,715. 71 for the making of a local improvement by
special assessment consisting of curbs and gutters, sidewalks, storm sewers
and paving, and known as 77 TX 2747 (Western Area No. 1) ; and
WHEREAS, the total amount of confirmed assessments against private
property was in the sum of $1,222,525.48; and
WHEREAS, the sum of $702,190.23 was confirmed as and for a public benefit;
and
WHEREAS, a contract for the making of the improvement was awarded to
Valley Engineering, Gluth Bros. , Wayne Zimmerman, a joint venture, in the
amount of $2,781,915.07, which exceeded the engineers estimate for construc-
tion of $1,702,385.90 by the sum of $1,079,529.17; and
WHEREAS, no public hearing was held as required by paragraph 9-2-74 of
" Chapter 24 of the Illinois Revised Statutes, 1979, providing for procedures
for the making of supplemental assessments for deficiencies; and
WHEREAS, no supplemental assessment may be made against private proper-
ties for any deficiency in the assessment for the cost of construction of the
local improvement; and
WHEREAS, it is apparent that upon completion of the improvement the final
certificate of cost will show a deficiency; and
WHEREAS, the City of Elgin is advised and informed that Valley Engineering,
Gluth Bros. and Wayne Zimmerman, a joint venture, have agreed to sell and
transfer all vouchers issued for payment and the right to bonds in exchange
to Clayton Brown $ Associates, Inc. ; and
WHEREAS, it is necessary and desirable to establish a method of payment
of the anticipated deficiency to induce Clayton Brown $ Associates, Inc. to
purchase vouchers or bonds issued in payment for the improvement; and
WHEREAS, the Board of Local Improvements of the City of Elgin has hereto-
fore passed a resolution declaring that any deficiency in the cost of the local
improvement shall be paid from the public benefit fund; and
WHEREAS, the making of local improvements and the financing of the cost of
local improvements is within the government and affairs of a home rule unit; and
WHEREAS, the City of Elgin is a home rule unit authorized to perform any
function and exercise any power relating to its government and affairs.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ELGIN,
KANE AND COOK COUNTIES, ILLINOIS, in the exercise of its home rule powers, as
follows:
Section 1. That any deficiency between the cost of a local improvement
consisting of the construction of curbs and gutters, sidewalks, storm sewers
and paving known as Western Area No. 1 as shown by the final certificate of
cost to be filed in the Circuit Court of Kane County and the amount confirmed
by order of the Circuit Court of Kane County on January 7, 1981, under
General Number 77 TX 2747 shall be paid from public benefit funds or otherwise
without limitation.
Section 2. That upon filing of the final certificate of cost, the Cor-
poration Counsel is authorized and directed to cause the amount assessed by
the Circuit Court of Kane County as public benefit, to be increased by the
amount of the deficiency said amended public benefit assessment to be payable
from the second through tenth installments of said assessment.
Section 3. That this ordinance shall be in full force and effect from
and after its passage in the manner provided by law.
s/ Erwin Schmidt
Er— ScT Tdt,Mayor Pro Tern
Presented: October 14, 1981
Passed: October 14, 1981
Vote: Yeas 5 Nays 0
Recorded:
Published:
Attest: 47,
s/ Marie Yearman
Marie Yearman, City Clerk
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