HomeMy WebLinkAboutT14-82 Ordinance No. T14-82
r AN ORDINANCE
ABATING A PORTION OF THE ANNUAL TAX FOR 1982 FOR
STREET IMPROVEMENT BONDS
WHEREAS, the City of Elgin will have sufficient funds on hand to pay
a portion of the tax levied by Ordinance T-1277, An Ordinance Providing
for Borrowing Money and Issuing Bonds of the City of Elgin, Kane and Cook
Counties, Illinois, in the Amount of $2,000,000.00 for the Purpose of Paying
the Cost of Constructing Improvements Upon Certain of the Streets and Inter-
sections Within said City, Including Widening, Repairing and Resurfacing, and
Providing for the Levy and Collection of a Direct Annual Tax for the Payment
of the Principal and Interest of said Bonds; and
WHEREAS, the total of the levy of the tax for the year 1982 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 a portion of the tax of $149,640
for the year 1982 as provided and levied in the ordinance providing for the
issuance of $2,000,000 Street Improvement Bonds, passed December 13, 1967,
a copy of which was filed with each of said county clerks; said tax shall
fliwk be abated by reducing said sum $75,000 and extending a tax for the year 1982
in the amount of $74,640 against all taxable property situated in the City
of Elgin, Kane and Cook Counties, Illinois.
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