HomeMy WebLinkAboutT11-82 Ordinance No. T11-82
AN ORDINANCE
ABATING THE ANNUAL TAX FOR 1982 FOR GENERAL OBLIGATION
PARKING BONDS, SERIES 1980A
WHEREAS, the City of Elgin will have sufficient funds on hand to
pay the tax levied by Ordinance S12-80, An Ordinance Providing for Borrow-
ing Money and Issuing Bonds of the City of Elgin, Kane and Cook Counties,
Illinois, to the Amount of $2,600,000 for Paying the Cost of Constructing
Public Improvements in the City, and Providing for the Levy and Collection
of a Direct Annual Tax for the Payment of the Principal and Interest of the
Bonds; and
WHEREAS, the levy of the tax for the year 1982 provided in the ordi-
nance 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 $317,625 for the year
1982 as provided and levied in the ordinance providing for the issuance
of $2,600,000 General Obligation Parking Bonds, Series 1980A, passed
October 22, 1980, a copy of which was filed with each of said county
rclerks.
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, 1982.
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 22, 1982
Passed: December 22, 1982
Vote: Yeas 6 Nays 0
Recorded:
Published:
Attest:
s/ Marie Yearman
Marie Yearman, City Clerk
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