S9-96 CITY OF ELGIN
ORDINANCE NO. S9-96
AN ORDINANCE
PROVIDING FOR A LOAN PROGRAM TO ASSIST PROPERTY
OWNERS WITH SIDEWALK VAULT CLOSURES
ADOPTED BY THE
L CITY COUNCIL OF THE
CITY OF ELGIN
ON THIS 11TH DAY OF SEPTEMBER, 1996
Published in pamphlet form by
authority of the City Council of
the City of Elgin, Kane and Cook
Counties, Illinois, on this
12th day of September, 1996 .
STATE OF ILLINOIS
ss .
COUNTY OF KANE )
CERTIFICATE
I , Dolonna Mecum, certify that I am the duly appointed
and acting municipal clerk of the City of Elgin, Cook and Kane
Counties, Illinois .
I further certify that on September 11, 1996 , the
Corporate Authorities of such municipality passed and approved
Ordinance No. S9-96 , entitled "An Ordinance Providing for a
Loan Program to Assist Property Owners with Sidewalk Vault
Closures, " which provided by its terms that it should be
published in pamphlet form.
The pamphlet form of Ordinance No. S9-96 , including
the Ordinance and a cover sheet thereof, was prepared, and a
copy of such Ordinance was posted in the municipal building,
commencing on September 12, 1996, and continuing for at least
ten days thereafter. Copies of such Ordinance were also
available for public inspection upon request in the office of
the municipal clerk.
DATED at Elgin, Illinois, on September 12 , 1996 .
Municipal Clerk
(SEAL)
Ordinance No. S9-96
AN ORDINANCE
PROVIDING FOR A LOAN PROGRAM TO ASSIST PROPERTY OWNERS WITH
SIDEWALK VAULT CLOSURES
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ELGIN,
ILLINOIS:
Section 1 . That there is hereby established a loan
program to assist property owners in the closing of vaults
under sidewalks .
Section 2 . That property owners in the Center City area
owning property adjacent to sidewalk vaults to be closed by
the city shall be responsible for relocating utilities and
constructing the interior wall between the vault and their
property. The city shall fill the vaults including providing
fill material and replace the sidewalk as part of the vault
closure.
Section 3 . That in order to assist property owners in
the Center City area with relocating utilities and
constructing the interior wall between the vault and their
property as part of sidewalk vault closures property owners
may receive a loan from the city in an amount not to exceed
$5,000 per vault. Any such loan monies shall be used solely
for purposes directly related to the sidewalk vault closure.
Payments of principal and interest on the loan shall be made
to the city in annual installments over a period of not more
than five (5 ) years with the first installment to be due on
July 1, 1997 . Applications for such loans shall be made to
the Director of the New Century Partnership of Elgin. The
annual interest rate for any such loans shall be five ( 5%)
percent and will begin accruing on July 1, 1997 . The City
Manager is hereby authorized to enter into and execute such
loan agreements on a forms approved by the corporation counsel .
Section 4 . That all ordinances or parts of ordinances in
conflict with the provisions of this ordinance be and are
hereby repealed.
Section 5 . That this ordinance shall be in full force
and effect from and after its passage and publication in the
manner provided by law. /;r// 2: --
Kevin Kelly, Mayor
L
°"' Presented: September 11, 1996
Passed: September 11, 1996
Omnibus Vote: Yeas 7 Nays 0
Recorded: September 12, 1996
Published: September 12 , 1996
Attest:
Dolonna Mecum, City Clerk