Title
Ordinance Amending a Rate Surcharge for certain portions of the Combined Water Works and Sewerage System of the County of Lake in the State of Illinois.
Staff Summary
• The County Board approved an ordinance on October 13, 2009, which established a rate surcharge related to the Hawthorn Woods/Glennshire Water System.
• The October 2009 ordinance established the water capital surcharge for each property as $170 per bi-monthly bill, prior to the sale of the bonds.
• Based on the favorable sale of bonds, the water capital surcharge will be reduced to $154 per bi-monthly bill.
• This ordinance amends the October 2009 surcharge ordinance and establishes reduced surcharges by adopting a Certificate of Reduction.
• Based on this ordinance, the water capital surcharge will be effective beginning September 15, 2010.
Body
AMENDED RATE SURCHARGE ORDINANCE
OF SEPTEMBER 14, 2010
AGENDA ITEM 10-0837
An Ordinance Amending a Rate Surcharge for Certain Portions of the Combined Waterworks and Sewerage System of the County of Lake in the State of Illinois
Whereas the County Board approved Ordinance No. 09-2045, on October 13, 2009, recorded as Document No. 6534499 on October 22, 2009, which established a rate surcharge related to the Hawthorn Woods-Glennshire Water System;
Whereas said ordinance established a water capital surcharge of not to exceed $170.00, as may be reduced by a favorable sale of the Bonds, as evidenced by this Certificate of Reduction;
Whereas based on the sale of the Bonds on October 13, 2009, the water capital surcharge will be reduced to $154.00 per bimonthly system bill for those parcels that did not pay the One-Time Capital Cost Charge, as identified on the attached Exhibit A-1; and
Whereas based on the sale of the Bonds on October 13, 2009, the water capital surcharge will be reduced to $90.00 per bimonthly system bill for those parcels that did not pay the One-Time Capital Cost Charge and received Community Development Block Grant assistance based on their income level, as identified on the attached Exhibit A-2;
Now Therefore Be It Ordained by this County Board of The County of Lake, Illinois, that the following Certificate of Reduction be adopted:
Certificate of Reduction
1. The recitals be and are incorporated in this Amended Rate Surcharge Ordinance by reference.
2. Upon the favorable sale of the Subordinate Revenue Bonds (Series 2009) the water capital surcharge is reduced from $170.00 to $154.00 which will be applied to each served parcel that enrolled in the surcharge payment plan on a bimonthly billing basis, effective September 15, 2010, and is reduced from $170.00 to $90.00 which will be applied to each served parcel that enrolled in a surcharge payment plan on a bimonthly basis and received Community Development Block Grant assistance, effective September 15, 2010.
3. This amended Rate Surcharge, described in Paragraph 2 above, shall be in full force and effect for 29 years, until said Subordinate Revenue Bonds are retired, on September 15, 2039.
4. This Amended Rate Surcharge Ordinance, and Certificate of Correction, shall be recorded with the Office of the Lake County Recorder of Deeds.
Dated at Waukegan, Lake County, Illinois on this 14th day of September, A.D., 2010.
Witness:
Chairman of the County Board
The County of Lake, Illinois
Attest:
County Clerk
County of Lake, Illinois