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NOTICE OF PUBLIC HEARING CITY ...
NOTICE OF PUBLIC HEARING
CITY OF GENEVA, ILLINOIS
AN ORDINANCE PROPOSING THE
ESTABLISHMENT OF SPECIAL SERVICE AREA, NUMBER 37, THE CROSSINGS, CITY OF GENEVA, KANE COUNTY, ILLINOIS
A. That a public hearing (the “Hearingâ€) shall be held on the 7th day of July, 2025, at 7:00 P.M., in the City Council Chamber of the City Hall, 109 James Street, Geneva, Illinois, to consider the establishment, the purposes and tax rate of Special Service Area No. 37 of the City of Geneva, in the territory described in the notice below. At the hearing, there will be considered a levy of an annual tax of not to exceed an annual rate of 1.0% of the assessed value, as equalized, of the property in the proposed Special Service Area No. 37, said tax to be levied for a maximum of 25 years from the date of this Ordinance. Said tax shall be in addition to all other taxes provided by law and shall be levied pursuant to provisions of the Revenue Act of 1939, as amended.
At the hearing, there will be considered the borrowing of not more than Seven Hundred Thousand ($700,000.00) Dollars to be evidenced by general obligation bonds, the proceeds of which shall be used to pay the cost of retrofitting and constructing electrical distribution facilities for residential planned unit development at Geneva Crossing. Said bonds shall mature in not greater than 25 years, and to bear interest at a rate not to exceed 10% per annum, or 125% of the rate for the most recent date shown in The 20 G.O. Bonds Index of average municipal bond yields as published by the most recent edition of The Bond Buyer, published in New York, New York. Said bonds, if issued, shall be retired by the levy of a direct tax to pay the interest on such bonds as they fall due, and to discharge the principal thereof at maturity. Said tax is to be levied upon all taxable property within the proposed Special Service Area and said tax shall be in addition to the annual real estate tax.
The current territory of the subject property of Special Service Area No. 37 is described
below:
Lots 2, 3 and 4 in Crossings at Geneva, being a subdivision of part of the Southeast Quarter of Section 5, Township 39 North, Range 8, East of the Third Principal Meridian, according to the Plat thereof recorded December 11, 2003 as Document No. 2003K212096, in Kane County, Illinois.
Common Address Vacant land adjacent to the east side of Fisher Drive and south of Williamsburg Avenue, Geneva, Illinois 60134
Permanent Index Nos. 12-05-405-001, 12-05-405-002, 12-05-405-006
B. The purpose of the Special Service Area No. 37 is to provide special services to the area, which services are unique and in addition to the services generally provided by the City. The list of services that Special Service Area No. 37 may provide from time to time include the following: is to provide a primary source of revenue to pay the cost of the design engineering and the cost of construction for an electric distribution system to serve the proposed multi-family residential development upon Lots 2, 3 and 4 of The Crossings at Geneva, in the City of Geneva, Kane County, Illinois
C. All interested persons, including all persons owning taxable real property located within the Area, will be given an opportunity to be heard at the Hearing regarding the establishment and proposed services of Special Service Area No. 37 and the proposed tax levy and an opportunity to file objections to the establishment of Special Service Area No. 37 or to the amount of the tax levy.
At the Hearing, any interested person may file with the City Clerk written objections to and may be heard orally in respect to any issues referenced in this notice. The Hearing may be reconvened to another date without further notice other than a motion to be entered upon the minutes fixing the time and place it will reconvene.
D. If a petition signed by at least 51% of the electors residing within the proposed Special Service Area No. 37, and by at least 51% of the owners of record of the land included within the boundaries of the proposed Special Service Area No. 37 is filed with the City Clerk within 60 days following the final adjournment of the Hearing objecting to this ordinance for the establishment of Special Service Area No. 37, it shall not be implemented.
DATED this 10th day of June, 2025.
Published in Daily Herald, June 10, 2025 (293375), posted 06/10/2025
CITY OF GENEVA, ILLINOIS
AN ORDINANCE PROPOSING THE
ESTABLISHMENT OF SPECIAL SERVICE AREA, NUMBER 37, THE CROSSINGS, CITY OF GENEVA, KANE COUNTY, ILLINOIS
A. That a public hearing (the “Hearingâ€) shall be held on the 7th day of July, 2025, at 7:00 P.M., in the City Council Chamber of the City Hall, 109 James Street, Geneva, Illinois, to consider the establishment, the purposes and tax rate of Special Service Area No. 37 of the City of Geneva, in the territory described in the notice below. At the hearing, there will be considered a levy of an annual tax of not to exceed an annual rate of 1.0% of the assessed value, as equalized, of the property in the proposed Special Service Area No. 37, said tax to be levied for a maximum of 25 years from the date of this Ordinance. Said tax shall be in addition to all other taxes provided by law and shall be levied pursuant to provisions of the Revenue Act of 1939, as amended.
At the hearing, there will be considered the borrowing of not more than Seven Hundred Thousand ($700,000.00) Dollars to be evidenced by general obligation bonds, the proceeds of which shall be used to pay the cost of retrofitting and constructing electrical distribution facilities for residential planned unit development at Geneva Crossing. Said bonds shall mature in not greater than 25 years, and to bear interest at a rate not to exceed 10% per annum, or 125% of the rate for the most recent date shown in The 20 G.O. Bonds Index of average municipal bond yields as published by the most recent edition of The Bond Buyer, published in New York, New York. Said bonds, if issued, shall be retired by the levy of a direct tax to pay the interest on such bonds as they fall due, and to discharge the principal thereof at maturity. Said tax is to be levied upon all taxable property within the proposed Special Service Area and said tax shall be in addition to the annual real estate tax.
The current territory of the subject property of Special Service Area No. 37 is described
below:
Lots 2, 3 and 4 in Crossings at Geneva, being a subdivision of part of the Southeast Quarter of Section 5, Township 39 North, Range 8, East of the Third Principal Meridian, according to the Plat thereof recorded December 11, 2003 as Document No. 2003K212096, in Kane County, Illinois.
Common Address Vacant land adjacent to the east side of Fisher Drive and south of Williamsburg Avenue, Geneva, Illinois 60134
Permanent Index Nos. 12-05-405-001, 12-05-405-002, 12-05-405-006
B. The purpose of the Special Service Area No. 37 is to provide special services to the area, which services are unique and in addition to the services generally provided by the City. The list of services that Special Service Area No. 37 may provide from time to time include the following: is to provide a primary source of revenue to pay the cost of the design engineering and the cost of construction for an electric distribution system to serve the proposed multi-family residential development upon Lots 2, 3 and 4 of The Crossings at Geneva, in the City of Geneva, Kane County, Illinois
C. All interested persons, including all persons owning taxable real property located within the Area, will be given an opportunity to be heard at the Hearing regarding the establishment and proposed services of Special Service Area No. 37 and the proposed tax levy and an opportunity to file objections to the establishment of Special Service Area No. 37 or to the amount of the tax levy.
At the Hearing, any interested person may file with the City Clerk written objections to and may be heard orally in respect to any issues referenced in this notice. The Hearing may be reconvened to another date without further notice other than a motion to be entered upon the minutes fixing the time and place it will reconvene.
D. If a petition signed by at least 51% of the electors residing within the proposed Special Service Area No. 37, and by at least 51% of the owners of record of the land included within the boundaries of the proposed Special Service Area No. 37 is filed with the City Clerk within 60 days following the final adjournment of the Hearing objecting to this ordinance for the establishment of Special Service Area No. 37, it shall not be implemented.
DATED this 10th day of June, 2025.
Published in Daily Herald, June 10, 2025 (293375), posted 06/10/2025
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