HomeMy WebLinkAboutT8-82 Ordinance No. T8-82
AN ORDINANCE
PROVIDING FOR PAYMENT OF DEFICIENCY IN THE
CERTIFICATE OF FINAL COST AND COMPLETION OF
CITY OF ELGIN SPECIAL ASSESSMENT NO. 77 TX 2747
BY ASSESSMENT FOR PUBLIC BENEFIT
WHEREAS, the City of Elgin has passed an ordinance for the making
of a local improvement, which is designated as City of Elgin Special
Assessment No. 77 TX 2747; and
WHEREAS, the Circuit Court of Kane County has confirmed said special
assessment; and
WHEREAS, the improvement has been completed by the contractors,
Valley Engineering, Gluth Bros. & Wayne Zimmerman, a joint venture, and
accepted by the Board of Local Improvements of the City of Elgin; and
WHEREAS, the Board has approved the Certificate of Final Cost and
Completion, which reflects a deficiency in the amount of $1,296,766.68;
and
WHEREAS, there will be a deficiency in the amount of assessment
required to pay the cost of the work, cost of engineering and inspection,
cost of levying, making and collecting the assessment, and the amount
estimated to pay accruing interest on bonds and vouchers in the sum of
$1,296,766.68, and the deficiency will benefit the public in said sum in
addition to the public benefit previously assessed.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
ELGIN, ILLINOIS:
Section 1. That the City of Elgin, Kane County, Illinois, pay the
deficiency of $1,296,766.68 in City of Elgin Special Assessment No.
77 TX 2747 and the same be assessed againt the City as public benefit
in the sum of $1,296,766.68, payable out of the second to tenth install-
ments inclusive, in addition to the amount already confirmed against the
City for public benefit.
Section 2. That this ordinance shall be in full force and effect from
and after its passage and approval in the manner provided by law.
s/ Richard L. Verbic
Richard L. Verbic, Mayor
Presented: November 23, 1982
Passed: November 23, 1982
Vote: Yeas 5 Nays 0
Recorded:
Published:
rAttest:
s/ Marie Yearman
Marie Yearman, City Clerk