HomeMy WebLinkAboutT7-78 Ordinance No. T7-78
AN ORDINANCE
ABATING THE ANNUAL TAX FOR 1978 FOR
RECREATION CENTER BONDS
WHEREAS, the City of Elgin will have sufficient funds on hand to pay
the tax levied by Ordinance T-1278, an ordinance providing for borrowing
money and issuing bonds of the City of Elgin, Kane and Cook Counties,
Illinois, in the amount of $550,000.00 for the purpose of paying the cost
of equipping certain lands heretofore dedicated and set apart for use as a
recreation center by necessary grading, draining, planting and landscaping
and including constructing thereon a golf course, shelter house, parking
area and other appurtenant improvements, and providing for the levy and
collection of a direct annual tax for the payment of the principal and
interest of said bonds.
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 $63,100 for the year 1978 as
provided and levied in the ordinance providing for the issuance of $550,000.00
Recreation Center Bonds, passed December 13, 1967, a copy of which was filed
with each of said county clerks.
elk 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 December 31, 1978.
Section 3. That this ordinance shall be in full force and effect from
and after its passage in the manner provided by law.
s/ Richard L . Verbic
Richard L. Verbic, Mayor
Presented: December 27, 1978
Passed: December 27 , 1978
Vote: Yeas 6 Nays 0
Recorded:
Published:
Attest:
s/ Marie Yearman
Marie Yearman, City Clerk
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