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Approval of an Ordinance Providing for and Requiring the Submission of the Proposition of Increasing the Limiting Rate of the Forest Preserve District of Kane County, Illinois, to the Voters of Said Forest Preserve District at the General Election to be Held on the 5th Day of November, 2024
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WHEREAS, the Forest Preserve District of Kane County, Illinois (the "District"), is subject to the Property Tax Extension Limitation Law of the State of Illinois, as amended ("PTELL"); and
WHEREAS, the Board of Commissioners of the District (the "Board") does hereby find and determine that the limiting rate for the District is not sufficient to provide funds to preserve and maintain forests and natural lands, acquire lands to protect rivers and watersheds, plant trees and protect wildlife habitat, enhance flood control and drainage, maintain and improve forest preserve woodlands, wetlands and prairies, provide nature education and outdoor opportunities for all ages, increase forest preserve access and safety, improve recreational amenities such as hiking and biking trails, camping and fishing or for other forest preserve purposes (collectively, the "Forest Preserve Purposes"); and
WHEREAS, the most recent levy year for which the limiting rate of the District is known is 2023; and
WHEREAS, the limiting rate for the District for levy year 2023 was 0.045150% of the equalized assessed value of the taxable property therein; and
WHEREAS, the Board does hereby further find and determine that the need exists for increasing the limiting rate for the District by an additional amount equal to 0.029163% above the limiting rate for levy year 2023 for Forest Preserve Purposes and establishing the same at 0.074313% of the equalized assessed value of the taxable property therein for levy year 2024; and
WHEREAS, before the limiting rate for the District for levy year 2024 may be increased to 0.074313%, a proposition therefor (the "Proposi...
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