G14-11 1
Ordinance No. G14-11
AN ORDINANCE
DISSOLVING THE DUNDEE/SUMMIT AREA A SPECIAL TAX ALLOCATION FUND
WHEREAS, the City Council of the City of Elgin adopted Ordinance No. S9-86 on
December 22, 1986 to create the "Dundee/Summit Area A Special Tax Allocation Fund" for the
purpose of paying redevelopment project costs and obligations incurred in the payment thereof
for what is commonly referred to as the "Dundee/Summit Area A Redevelopment Plan and
Project" or the "Dundee Summit Tax Increment Financing (TIF) District," and;
WHEREAS, the City of Elgin adopted Ordinance No. S9-86 in accordance with the "Tax
Increment Allocation Redevelopment Act," 65 ILCS 5/11-74.4-1, et seq., as amended; and
WHEREAS, Section 9(c) of the Tax Increment Allocation Redevelopment Act (65 ILCS
5/11-74.4-9(c)) provides that the method for allocating tax increment allocation financing under
the Tax Increment Allocation Redevelopment Act shall terminate when municipality adopts an
ordinance dissolving the special tax allocation fund for a redevelopment project area; and
WHEREAS, the twenty-three year term of the Dundee/Summit Area A Redevelopment
Plan and Project has expired: and
WHEREAS, in accordance with the provisions of Section 9(c) of the Tax Increment
• Allocation Redevelopment Act (65 ILCS 5/11-74.4-9(c)), the City of Elgin is required to adopt
an ordinance dissolving the Dundee/Summit Area A Special Tax Allocation Fund.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF ELGIN, ILLINOIS:
Section 1. The foregoing recitals are substantive and are hereby incorporated in this
ordinance as though fully set forth herein.
Section 2. The Dundee/Summit Area A Special Tax Allocation Fund for the
Dundee/Summit Area A Redevelopment Plan and Project created pursuant to Ordinance No.
S9-86 is hereby dissolved with respect to the method of extending taxes as provided in Section
9(c) of the Tax Increment Allocation Redevelopment Act (65 ILCS 5/11-74.4-9(c)).
Section 3. The city clerk is hereby directed to record a certified copy of this ordinance
with the Kane County Clerk.
Section 4. If any provision, clause, sentence, paragraph, section or part of this ordinance
or application thereof to any person or circumstance, shall for any reason be adjudged by a court
of competent jurisdiction to be unconstitutional or invalid, said judgment shall not affect, impair
or invalidate the remainder of this ordinance and the application of such provision to other
persons or circumstances, but shall be confined in its operation to the provision, clause, sentence,
paragraph, section or part thereof directly involved in the controversy in which such judgment
i
• shall have been rendered and to the person or circumstances involved. It is hereby declared to be
the legislative intent of the City Council that this ordinance would have been adopted had such
unconstitutional or invalid provisions; clause, sentence. paragraph; section or part thereof not
been included.
Section 5. That this ordinance shall be in full force and effect as of December 31. 2010,
upon its passage and publication in the manner provided by law.
Ed Schoc , Mayor
Presented: April 13, 2011
Passed: April 13, 2011
Vote: Yeas: 7 Nays: 0
Recorded: April 14, 2011
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Published: April 15, 2011 Jee�� 1 ,
Attest:
Diane Robertson, City C rk
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