Loading...
T8-80 Ordinance No. T8-80 AN ORDINANCE ABATING THE ANNUAL TAX FOR 1980 FOR GENERAL OBLIGATION PARKING BONDS, SERIES 1980A WHEREAS, the City of Elgin will have sufficient funds on hand to pay the tax levied by Ordinance S12-80, An Ordinance Providing for Borrowing Money and Issuing Bonds of the City of Elgin, Kane and Cook Counties, Illinois, to the amount of $2,600,000 for Paying the Cost of Constructing Public Improvements in the City, and Providing for the Levy and Collection of a Direct Annual Tax for the Payment of the Principal and Interest of the Bonds; and WHEREAS, the levy of the tax for the year 1980 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 $253,895.83 for the year 1980 as provided and levied in the ordinance providing for the issuance of $2,600,000 General Obligation Parking Bonds, Series 1980A, passed October 22, 1980, a copy of which was filed with each of said county clerks. (Pk 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 December 31, 1980. Section 3. That this ordinance shall be in full force and effect from and after its passage in the manner provided by law. s/ Richard L. Verbic Richard L. Verbic, Mayor Presented: December 10, 1980 Passed: December 10, 1980 Vote: Yeas 7 Nays 0 Recorded: Published: Attest: s/ Marie Yearman Marie Yearman, City Clerk