HomeMy WebLinkAboutT14-07 Ordinance No. T14-07
AN ORDINANCE
ABATING THE ANNUAL TAX FOR 2006 FOR GENERAL OBLIGATION
CORPORATE PURPOSE BONDS, SERIES 2005A
WHEREAS, the City of Elgin will have sufficient funds on hand to pay the tax levied by
Ordinance S3-05, An Ordinance Providing for the Issuance of$11,365,000 General Obligation
Refunding Bonds, Series 2005A, 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 2006 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$582,406 for the year 2006 as provided and levied in the ordinance
providing for the issuance of$11,365,000 General Obligation Refunding Bonds, Series 2005A,
passed January 12, 2005, 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 April 11, 2007.
Section 3. That this ordinance shall be in full force and effect from and after its passage
in the manner provided by law.
Ed Schock, Mayor
Presented: March 21, 2007
Passed: March 21, 2007
Vote: Yeas: 7 Nays: 0
Recorded: March 22, 2007
Published:
Attest:
Dolonna Mecum, City Clerk
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