HomeMy WebLinkAboutT22-14 Ordinance No. T22-14
AN ORDINANCE
REGARDING ABATING A PORTION OF THE ANNUAL TAX FOR 2013 FOR
REFUNDING AND CORPORATE PURPOSE BONDS
WHEREAS, the City Council has adopted Ordinance Numbers T3-14, T4-14, T10-14,
T12-14, T14-14, T16-14, T19-14, T20-14and T21-14 providing for abating a portion of the
annual tax for 2013 for refunding and corporate purpose bonds for the series bonds referred to in
such ordinances; and
WHEREAS, depending upon the 2013 assessed valuation figures, prior year adjustment
and the state multiplier it may be necessary to further adjust the amounts of the abatement and
resulting tax levy in Section 1 of such ordinances in order to arrive at a 2013 tax levy for the City
of Elgin not to exceed $42,506,000.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF ELGIN, ILLINOIS:
Section 1. That the city's Chief Finance Officer be and is hereby authorized and
directed that upon receipt of 2013 assessed valuation figures, prior year adjustment and the state
multiplier to adjust, to the extent reasonably practicable, the amount of the abatement and
resulting tax levy in the Section 1 of Ordinance Numbers T3-14, 14-14, T10-14, T12-14, 114-
14, T16-14, T19-14, T20-14and T21-14 so as to attempt to arrive at a 2013 tax levy for the City
of Elgin not to exceed $42,506,000. The city's Chief Financial Officer shall make such
adjustments, if any, prior to the filing of a certified copy of Ordinance Numbers T3-14, T4-14,
T10-14, T12-14, T14-14, T16-14, T19-14, T20-14and T21-14 with the County Clerks of Kane
and Cook Counties, Illinois, whereupon the amount of the abatement and tax levy in Section 1 of
Ordinance Numbers T3-14, T4-14, T10-14, T12-14, T14-14, T16-14, T19-14, T20-14 and 121-
14 shall be deemed final.
Section 2. That this ordinance shall be in full force and effect from and after its
passage in the manner provided by law.
Al,r_.. .AZILIA A _
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David J. Kap 'in, Ma or
Presented: February 26, 2014
Passed: February 26, 2014
Omnibus Vote: Yeas: 8 Nays: 0
Recorded: February 26, 2014
Published: February 27, 2014
Attest: .44/"2'4A
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Kimberl Dewis Clerk
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