T10-81 Ordinance No. T10-81
fr. AN ORDINANCE
ABATING THE ANNUAL TAX FOR 1981 FOR GENERAL OBLIGATION
URBAN REHABILITATION BONDS
WHEREAS, the City of Elgin will have sufficient funds on hand to pay
the tax levied by Ordinance T-1189, An Ordinance Providing for Borrowing
Money and Issuing Bonds of the City of Elgin, Kane and Cook Counties,
Illinois, to the amount of $1,300,000 for Paying the Cost of Acquisition
of Real Property Necessary and Appropriate for the Rehabilitation and
Redevelopment of Blighted Areas 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 1981 provided in the ordi-
nance 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 $103,100 for the year
1981 as provided and levied in the ordinance providing for the issuance
of $1,300,000 General Obligation Urban Rehabilitation Bonds, passed
December 5, 1963, 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 December 31, 1981.
Section 3. That this ordinance shall be in full force and effect
from and after its passage in the manner provided by law.
s/ James M. Kirkland
. , _ • . - . -
Presented: December 22, 1981
Passed: December 22 , 1981
Vote: Yeas 6 Nays 0
Recorded:
Published:
Attest:
s/ Marie Yearman
Marie Yearman, City Clerk
eft.