HomeMy WebLinkAboutT14-10 (2) Ordinance No. T14-10
AN ORDINANCE
ABATING THE ANNUAL TAX FOR 2009 FOR GENERAL OBLIGATION
CORPORATE PURPOSE BONDS, SERIES 2005C
WHEREAS. the City of Elgin will have sufficient funds on hand to pay the tax levied by
Ordinance S14-05, An Ordinance Providing for the Issuance of $4,875,222.65 General
Obligation Corporate Purpose (Capital Appreciation) Bonds, Series 2005C, 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 $640,000 for the year 2009 as provided and levied in the
ordinance providing for the issuance of $4,875,222.65 General Obligation Corporate Purpose
(Capital Appreciation) Bonds, Series 2005C, passed April 27, 2005, a copy of which was filed
with each of said county clerks.
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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 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
Recorded: March 11, 2010 O F
Published: March 12, 2010 L`
Attest:
Diane Robertson, Cit Clerk D •S��'•
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