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ADOPTION OF THE 2016 ANNUAL TAX LEVY ORDINANCE
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To the Honorable Board of Commissioners of the Chicago Park District
I. Recommendation
It is recommended that the Board of Commissioners adopt the attached 2016 Chicago Park District Annual Tax Levy Ordinance (the “Ordinance”)
II. Budget and Financial Information
Budget Classification: Operating Funds
Fiscal Year: 2016 Operating Budget
Source of Funds: Property Taxes
III. Explanation
The Chicago Park District (the “District”) is empowered by Section 19 of the Chicago Park District Act, 70 ILCS 1505/19, to levy a real estate tax on property located in the District’s boundary for the necessary expenses of the District. The attached Ordinance sets the dollar amount and purpose for the proposed 2016 tax levy. Upon your approval, the Secretary of the District will file a certified copy of the adopted Ordinance, together with the annexed 2016 Annual Appropriation Ordinance, with the County Clerks of Cook and DuPage. The administration and collection of the real estate taxes is assigned to the County Clerks and County Treasurers.