HomeMy WebLinkAboutT6-04 Ordinance No. T6-04
AN ORDINANCE
ABATING THE ANNUAL TAX FOR 2003 FOR GENERAL OBLIGATION
CORPORATE PURPOSE BONDS, SERIES 1998A
WHEREAS, the City of Elgin will have sufficient funds on hand to pay the tax levied by
Ordinance S3-98,An Ordinance Providing for the Issuance of$7,650,000 General Obligation Bonds,
Series 1998A,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 2003 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$578,812 for the year 2003 as provided and levied in the ordinance
providing for the issuance of$7,650,000 Corporate Purpose Bonds, Series 1998A,passed April 8,
1998, 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,on or before April 20,2004.
Section 3. That this ordinance shall be in full force and effect from and after its passage in
the manner provided by law.
ir
Ed Schock, Mayor
Presented: April 14, 2004
Passed: April 14, 2004
Omnibus Vote: Yeas: 5 Nays: 0
Recorded: April 15, 2004
Published:
Attest:
Cr45?4"-----42
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Dolonna Mecum, City C erk