T8-85 Ordinance No. T 8-85
AN ORDINANCE
ABATING THE ANNUAL TAX FOR 1985 FOR
STREET IMPROVEMENT BONDS
WHEREAS, the City of Elgin will have sufficient funds on hand to pay the tax
levied by Ordinance T-1277, An Ordinance Providing for Borrowing Money and Issuing
Bonds of the City of Elgin, Kane and Cook Counties, Illinois, in the Amount of $2,000,000
for the Purpose of Paying the Cost of Constructing Improvements Upon Certain of the
Streets and Intersections Within said City, Including Widening, Repairing and Resurfac-
ing, and Providing for the Levy and Collection of a Direct Annual Tax for the Payment of
the Principal and Interest of said Bonds; and
WHEREAS, the levy of the tax for the year 1985 provided in the ordinance is
unnecessary.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
ELGIN, ILLINOIS:
Section I. That the County Clerks of Kane and Cook Counties, are hereby
authorized and directed to abate the tax of $143,918 for the year 1985 as provided and
levied in the ordinance providing for the issuance of $2,000,000 Street Improvement
Bonds, passed December 13, 1967, 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, 1985.
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 23 1985
Passed: December 23, 1985
Vote: Yeas 7 Nays 0
Recorded:
Published:
Attest:
s/ Marie Yearman
Marie Yearman, City Clerk