HomeMy WebLinkAboutT5-90 t Ordinance No. T5-90
AN ORDINANCE
ABATING THE ANNUAL TAX FOR 1990 GENERAL OBLIGATION
WATER BONDS, SERIES 1980
WHEREAS, the City of Elgin will have sufficient funds on
hand to pay the tax levied by Ordinance S1-80, An Ordinance
Providing for Borrowing Money and Issuing Bonds of the City of
Elgin, Kane and Cook Counties, Illinois, to the Amount of
$18,900,000 for Paying the Cost of Constructing Public
Improvements in said City, 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 levy of the tax for the year 1990 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 the tax
of $1,899,500. 00 for the year 1990 as provided and levied in
the ordinance providing for the issuance of $18, 900,000
General Obligation Water Bonds, Series 1980, passed
(001. January 28, 1980, 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, 1990.
Section 3 . That this ordinance shall be in full force
and effect from and after its passage in the manner provided
by law.
s/ George VanDeVoorde
George VanDeVoorde, Mayor
Presented: December 12, 1990
Adopted: December 12, 1990
Vote: Yeas 7 Nays 0
Recorded:
Attest:
s/ Dolonna Mecum
Dolonna Mecum, City Clerk