HomeMy WebLinkAboutORDINANCES-2013-083-O-13•
Effective Date: August 29, 2013
7/10/2013
83-0-13
AN ORDINANCE
Amending Sections 3-25-1 and 3-25-6 of the City Code regarding Real
Estate Transfer Tax
NOW BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
EVANSTON, COOK COUNTY, ILLINOIS, THAT:
SECTION 1: Section 3-25-1 "Definitions" of the Real Estate Transfer Tax
Section of the Evanston City Code, 2012, as amended, is hereby amended to add the
following definition for references to "Mortgagee" and "Secured Creditor":
Mortgagee and The terms shall mean a lender, such as a bank, credit union, mortgage
Secured company or other person who acquires a mortgage or other instrument
• Creditor. of transfer primarily for the purpose of securing a loan, and not
primarily for the purpose of acquiring the real property or beneficial
interest in real property that is the subject of the mortgage or other
instrument of transfer.
SECTION 2: Section 3-25-6 (G) "Exempt Transactions" of the Real Estate
Transfer Tax Code Section of the Evanston City Code, 2012, as amended, is hereby
amended to read as follows:
(G) Transactions in which the deeds are releases of property which is security for a debt or
other obligation; provided, however, that any transfer must be to a mortgagee or secured
creditor;
SECTION 3: The findings and recitals contained herein are declared to be
prima facie evidence of the law of the City and shall be received in evidence as provided by
the Illinois Compiled Statutes and the courts of the State of Illinois.
• SECTION 4: All ordinances or parts of ordinances in conflict herewith are
83-0-13
hereby repealed.
•
SECTION 5: This Ordinance 83-0-13 shall be in full force and effect from
and after its passage, approval, and publication in the manner provided by law.
SECTION 6: If any pro✓ision of this Ordinance 83-0-13 or application thereof
to any person or circumstance is ruled unconstitutional or otherwise invalid, such invalidity
shall not affect other provisions or applications of this Ordinance 83-0-13 that can be given
effect without the invalid application or provision, and each invalid provision or invalid
application of this Ordinance 83-0-13 is severable.
Introduced: 9NA 2013 Approved:
Adopted: t,..( , 2013�O 1, . > , 2013
Elizth B. Tisdahl Mayor
Approved as to forrro
Attest: Approved as to form: W. Grant Farrar
Corporation Counsel
*Rqnie�yr ne, City Clerk W. Grant Farrar, Corporation Counsel Dc?L)1y �rty�rn�J
•
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ORDINANCE NUMBER 84-0-13
AN ORDINANCE providing for the issuance of one or more series of
not to exceed $12,700,000 General Obligation Corporate Purpose
Bonds, Series 2013, of the City of Evanston, Cook County, Illinois,
for capital improvement and refunding purposes, authorizing the
execution of one or more bond orders in connection therewith and
• providing for the levy and collection of a direct annual tax for the
payment of the principal of and interest on said bonds.
is
3399598.01.04.doc
2208411/SL
Introduced on the 8th day of July, 2013.
Adopted by the City Council on the
22nd day of July, 2013.
Published in Pamphlet Form by Authority
of the Corporate Authorities on the
day of July, 2013.
TABLE OF CONTENTS
SECTION
HEADING
PAGE
PREAMBLES......................................................................................................................................
l
SECTION1.
DEFINITIONS......................................................................................................3
SECTION 2.
INCORPORATION OF PREAMBLES......................................................................6
SECTION 3.
DETERMINATION TO ISSUE BONDS...................................................................6
SECTION4.
BOND DETAILS...................................................................................................6
SECTION 5.
REGISTRATION OF BONDS; PERSONS TREATED AS OWNERS ...........................8
SECTION 6.
BOOK ENTRY PROVISIONS.................................................................................9
SECTION 7.
EXECUTION; AUTHENTICATION......................................................................11
SECTION8.
REDEMPTION....................................................................................................12
•
SECTION9.
FORM OF BONDS..............................................................................................18
SECTION 10.
SECURITY FOR THE BONDS..............................................................................24
SECTION 11.
TAX LEVY; ABATEMENTS...............................................................................24
SECTION 12.
FILING WITH COUNTY CLERK.........................................................................25
SECTION 13.
SALE OF BONDS; BOND ORDER(S); OFFICIAL STATEMENT ............................25
SECTION 14.
CONTINUING DISCLOSURE UNDERTAKING.....................................................27
SECTION 15.
CREATION OF FUNDS AND APPROPRIATIONS..................................................28
SECTION 16.
GENERAL TAX COVENANTS............................................................................30
SECTION 17. CERTAIN SPECIFIC TAX COVENANTS..............................................................30 0
-1-
aSECTION 18. MUNICIPAL BOND INSURANCE.......
r�
SECTION 19. RIGHTS AND DUTIES OF BOND REG
SECTION 20. DEFEASANCE...................................
SECTION 21. PUBLICATION OF ORDINANCE ........
SECTION 22. SEVERABILITY................................
SECTION 23. SUPERSEDER AND EFFECTIVE DATI
LIST OF EXHIBITS
A -FORM OF BOND ORDER
B-CONTINUING DISCLOSURE UNDERTAKING
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........................................................3 3
LR....................................................34
........................................................3 5
........................................................3 6
........................................................3 6
........................................................3 7