HomeMy WebLinkAboutT10-89 Ordinance No. T10-89
AN ORDINANCE
ABATING THE ANNUAL TAX FOR 1989 FOR GENERAL OBLIGATION
CORPORATE PURPOSE BONDS, SERIES I989A
WHEREAS, the City of Elgin will have sufficient funds on hand to pay the tax
levied by Ordinance T2-89, An Ordinance Providing for the Issuance of $2,500,000
General Obligation Bonds, Series 1989-A, 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 1989 provided in the ordinance is
unnecessary.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
ELGIN, ILLINOIS:
Section I. That the County Clerks of Kane and Cook Counties, are hereby
authorized and directed to abate the tax of $65,000 for the year 1989 as provided and
levied in the ordinance providing for the issuance of $2,500,000 General Obligation
Corporate Purpose Bonds, Series I 989A, passed September 27, 1989, 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
December 31, 1989.
Section 3. That this ordinance shall be in full force and effect from and after its
passage in the manner provided by law.
5/ George VanDeVoorde
George VanDeVoorde, Mayor
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Presented: December 19, 1989
Passed: December 19, 1989
Vote: Yeas 7 Nays 0
Recorded:
Published:
Attest:
s/ Nancy Roll
Nancy Roll, Deputy Clerk