My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
2023-31 Ordinance Creating PACE Area and Establishing Illinois Finance Authority Program Administrator and Bond Issuer
COD
>
City Clerk
>
ORDINANCES
>
2023
>
2023-31 Ordinance Creating PACE Area and Establishing Illinois Finance Authority Program Administrator and Bond Issuer
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
6/7/2023 10:00:25 AM
Creation date
6/7/2023 10:00:21 AM
Metadata
Fields
Template:
Resolution/Ordinance
Res Ord Num
2023-31
Res Ord Title
2023-31 Ordinance Creating PACE Area and Establishing Illinois Finance Authority Program Administrator and Bond Issuer
Department
Legal
Approved Date
6/5/2023
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
65
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
county and the State, of the assessments or installments thereof the applicable capital provider, <br /> PACE Project Administrator, or third-party servicer has billed for and not received as required <br /> under the applicable bill, including any interest or penalties that may be due as set forth in the <br /> applicable assessment contract. <br /> Such report shall be certified by the applicable capital provider, PACE Project Administrator, or <br /> third-party servicer and shall include statements that(i)the report contains true and correct list of <br /> delinquent assessments that the capital provider, PACE Project Administrator, or third-party <br /> servicer has not received as required by the applicable bill and (ii) an itemization of the amount <br /> of the delinquent assessment, including interest and penalties, if applicable. The report of the <br /> applicable capital provider, PACE Project Administrator, or third-party servicer, when so made, <br /> shall be prima facie evidence that all requirements of the law in relation to making the report <br /> have been complied with and that the assessments or the matured installments thereof, and the <br /> interest thereon, and the interest accrued on installments not yet matured, mentioned in the <br /> report,are due and unpaid. <br /> Upon proper filing of such report, at the direction of the applicable capital provider, PACE <br /> Project Administrator, or third-party servicer, the PACE Act mandates that the county collector <br /> shall enforce the collection of the assessments in the manner provided by law. <br /> IFA County Advantage PACE Program <br /> For assessments imposed by counties, please refer to the PACE Handbook for any billing and <br /> collecting preferences as the county collector of the county in which the applicable property is <br /> located may elect to bill and collect assessments with the regular property tax bills of the county. <br /> User Fees <br /> At no time will the PACE Area Administrator be a party to negotiations of any proposed <br /> financing and assessment fees between a record owner and the PACE Project Administrator. <br /> The fees and costs described below,which may be added to the assessment, are anticipated to be <br /> in excess of the closing costs and the costs of issuance of the bonds or notes issued by the <br /> Authority, including, without limitation, bond counsel fees, PACE Project Administrator fees, <br /> capital provider fees, reserves, trustee fees, title insurance fees, capitalized interest, and prepaid <br /> servicing fees. <br /> Governmental Unit <br /> The PACE Ordinance prescribes the fee payable to the Governmental Unit for entering into an <br /> assessment contract with any record owner, payable on or before the closing date of any related <br /> financing or refinancing that has been approved under the IFA PACE Program,unless such fee is <br /> otherwise waived by the Governmental Unit on a case-by-case basis. The applicable PACE <br /> Project Administrator shall be responsible for collecting and remitting such fee to the <br /> Governmental Unit. <br /> 14 <br />
The URL can be used to link to this page
Your browser does not support the video tag.