HomeMy WebLinkAboutT6-24 Ordinance No. T6-24
AN ORDINANCE
ABATING THE ANNUAL TAX FOR 2023 FOR
GENERAL OBLIGATION CORPORATE PURPOSE BONDS, SERIES 2020B
WHEREAS, the City of Elgin will have sufficient funds on hand to pay the tax levied by
Ordinance S2-20, An Ordinance Providing for the Issuance of $2,905,000 General Obligation
Corporate Purpose Bonds, Series 2020B, of the City of Elgin, Kane and Cook Counties, Illinois,
and Providing for the Levy and Collection of a Direct Annual Tax for the Payment of the Principal
of and Interest on said Bonds; and
WHEREAS,the levy of the tax for the year 2023 provided in the ordinance is unnecessary.
NOW,THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
ELGIN, ILLINOIS:
Section 1. That the County Clerks of Kane and Cook Counties, are hereby authorized
and directed to abate the tax of$511,000 for the year 2023 as provided and levied in the ordinance
providing for the issuance of $2,905,000 General Obligation Corporate Purpose Bonds, Series
2020B, passed April 22, 2020, a copy of which was filed with each of said county clerks.
Section 2. That the City Clerk is authorized and directed to file a certified copy of this
ordinance with the County Clerks of Kane and Cook Counties, Illinois, prior to March 15, 2024.
Section 3. That this ordinance shall be in full force and effect from and after its
passage in the manner provided by law.
David J. K ain, yor
Presented: March 6, 2024
Passed: March 6, 2024
Omnibus Vote: Yeas: 9 Nays: 0
Recorded: March 6, 2024
Published: March 6, 2024
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Kimberly Dew , ity Clerk