Loading...
HomeMy WebLinkAboutT16-93 r Ordinance No. T16-93 AN ORDINANCE PROVIDING FOR THE TRANSFER OF MONEY FROM THE WORKING CASH FUND TO THE GENERAL FUND WHEREAS, moneys are required to meet the ordinary and necessary disbursement for salaries and other corporate purposes payable from the General Fund; and WHEREAS, it is desirable that there be transferred from the Working Cash Fund to the General Fund the sum of Nine Hundred Fifty Thousand Dollars ( $950,000 . 00) . NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS: Section 1 . That the following items are hereby set forth and determined to be correct: a. It is proposed to transfer from the Working Cash Fund the sum of $950,000 . 00 to the General Fund in anticipation of the collection of the General Corporate Purpose Tax for the year 1993, in the total amount of $10,556,645 . 00 . b. The total amount of taxes extended (or to be extended) for the year 1993 by the County Clerks of Kane and Cook Counties for all purposes is $18,497,730 . 00 . The total amount of such taxes extended (or to be extended) as a General Corporate Purpose Tax, in anticipation of which such transfer is to be made is $10,556, 645 . 00 . c. The aggregate amount of warrants heretofore issued in anticipation of the collection of all corporate taxes levied for the year 1993 : None. d. The aggregate amount of money heretofore authorized to be transferred from the Working Cash Fund for all corporate purposes in anticipation of the collection of all corporate taxes for the year 1993 : None. Section 2 . That the City Treasurer be and he is hereby directed to transfer in anticipation of the collection of the General Corporate Purpose Tax for the year 1993 from the Working Cash Fund to the General Fund the sum of $950,000 . 00 to meet the ordinary and necessary disbursements for salaries and other corporate purposes payable from such fund, provided that the total amount of warrants heretofore issued against such General Corporate Purpose Tax shall not exceed ninety percent of the actual or estimated taxes extended or to be extended for Tax. Section 3 . That this ordinance shall be in full force and effect upon its passage and approval . George anDeVoorde, Mayor Presented: December 15, 1993 Passed: December 15, 1993 Vote: Yeas 5 Nays 0 Recorded: December 16, 1993 Published: Attest: c14-;?z,i4- &,,e_..u-k.— Dolonna Mecum, City Clerk rm. rft