HomeMy WebLinkAboutT3-10 • Ordinance No. T3-10
AN ORDINANCE
ABATING THE ANNUAL TAX FOR 2009 FOR
GENERAL OBLIGATION CORPORATE PURPOSE BONDS, SERIES 1999
WHEREAS. the City of Elgin will have sufficient funds on hand to pay a portion of the tax
levied by Ordinance S4-99, an Ordinance providing for the issuance of $9,750,000 General
Obligation Corporate Purpose Bonds, Series 1999, 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 $384,515 for the year 2009 as provided and levied in the ordinance
providing for the issuance of$9,750,000 General Obligation Corporate Purpose Bonds; Series 1999;
passed May 12, 1999, a copy of which was filed xvith 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 °
Recorded: March 11, 2010 FW
Published: March 12, 2010
Attest: ��':. - '�t;�• �
Diane Robertson, City lerk
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