HomeMy WebLinkAboutT1-10 (2) Ordinance No. T1-10
AN ORDINANCE
ABATING THE ANNUAL TAX FOR 2009 FOR
GENERAL OBLIGATION CORPORATE PURPOSE BONDS, SERIES 1996A
WHEREAS, the City of Elgin will have sufficient funds on hand to pay the tax levied by
Ordinance S14-96, An Ordinance Providing for the Issuance of$21,640,000 General Obligation
Corporate Purpose Bonds, Series 1996A,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 2009 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$121,538 for the year 2009 as provided and levied in the ordinance
providing for the issuance of$21,640,000 General Obligation Corporate Purpose Bonds. Series
1996A, passed December 4, 1996, 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 14.2010.
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 10, 2010
Passed: March 10. 2010
Omnibus Vote: Yeas: 7 Nays: 0 .'edy �;:.;,
Recorded: March 11, 2010 *'-
Published: March 12, 2010 ;:
Attest: ; 1
Diane Robertson. City lerk