HomeMy WebLinkAboutT8-14 Ordinance No. T8-14
AN ORDINANCE
ABATING THE ANNUAL TAX FOR 2013 FOR
GENERAL OBLIGATION CORPORATE PURPOSE BONDS, SERIES 2006B
WHEREAS, the City of Elgin will have sufficient funds on hand to pay the tax levied by
Ordinance S8-06, An Ordinance Providing for the Issuance of$5,322,248.40 General Obligation
Corporate Purpose (Capital Appreciation) Bonds, Series 2006B, 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 2013 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 $300,000 for the year 2013 as provided and levied in the
ordinance providing for the issuance of $5,322,248.40 General Obligation Corporate Purpose
(Capital Appreciation) Bonds, Series 2006B, passed April 12, 2006, 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 March 15, 2014.
Section 3. That this ordinance shall be in full force and effect from and after its
passage in the manner provided by law.
David J. Ka rin, :yor
Presented: February 26, 2014
Passed: February 26, 2014
Omnibus Vote: Yeas: 8 Nays: 0
Recorded: February 26, 2014
Published: February 27, 2014
Attest:
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Kimberly Dewis, City Clerk