2000-40 AUTHORIZING THE ESTABLISHMENT OF TAX INCREMENT FINANCING

Home Browse Search

� . � - , ORDINANCE NO. 2000-40 AN ORDINANCE OF THE CITY OF DECATUR, ILLINOIS AUTHORIZING THE ESTABLISHMENT OF TAX INCREMENT FINANCING "INTERESTED PARTIES" REGISTRIES AND ADOPTING REGISTRATION RULES FOR SUCH REGISTRIES ORDINANCE WHEREAS, the City of Decatur, Illinois (the "Municipality") is a home rule municipality as described in Section 6(a) (Powers of Home Rule Units) of Article VII (Local Government) of the Constitution of the State of Illinois, and as such may exercise any power and function pertaining to its government and affairs; WHEREAS, pursuant to Section 11-74.4-4.2 of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1, et seq. (the ��TIF Act"), the Municipality is required to establish certain"interested parties"registries and adopt registration rules for such registries, and the Municipality adopts this ordinance in order to comply with such requirements of the TIF , Act. NOW, THEREFORE BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF DECATUR,ILLINOIS, as follows; SECTION 1. The above recitals are incorporated into this Section 1 and made a part hereof by this reference. SECTION 2. The City Clerk, assisted by the City Manager (or the City Manager's designee), is hereby authorized and directed to create an"interested parties"registry in accordance with Section 11-74.4-4.2 of the TIF Act for each redevelopment project area created and established under the TIF Act and not terminated by the Municipality, whether now existing or created and established after the adoption of this ordinance.