T9-87 Ordinance No. T9-87
AN ORDINANCE
ABATING A PORTION OF THE ANNUAL TAX FOR 1987 FOR
CORPORATE PURPOSE BONDS, SERIES 1983
WHEREAS, the City of Elgin will have sufficient funds on hand to pay a portion of
the tax levied by Ordinance S5-83, An Ordinance Providing for Borrowing Money and
Issuing Bonds of the City of Elgin, Kane and Cook Counties, Illinois, to the Amount of
$2,180,000 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 said Bonds; and
WHEREAS, a portion of the levy of the tax for the year 19$7 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 a portion of the tax of $323,788 for the year 1987 as
provided and levied in the ordinance providing for the issuance of $2,180,000 Corporate
Purpose Bonds, Series 1983, passed October 24, 1983, a copy of which was filed with each
of said county clerks; said tax shall be abated by reducing said sum $11 ,661 and extending
a tax for the year 1987 in the amount of $312,127 against all taxable property situated in
the City of Elgin, Kane and Cook Counties, Illinois.
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 , 1987.
Section 3. That this ordinance shall be in full force and effect from and after its
passage in the manner provided by law.
s/ George Van De Voorde
George VanDeVoorde, Mayor
Presented: December 9, 1987
Passed: December 9 , 1987
Vote: Yeas 9 Nays 0
Recorded:
Published:
Attest:
s1 Maric YPIrman
Marie Yearman, City Clerk
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