T11-90 Ordinance No. T11-90
AN ORDINANCE
ABATING A PORTION OF THE ANNUAL TAX FOR 1990 FOR
CORPORATE PURPOSE BONDS, SERIES 1990
WHEREAS, the City of Elgin will have sufficient funds on
hand to pay a portion of the tax levied by Ordinance S12-90,
An Ordinance Providing for the Issuance of $7,720,000 General
Obligation Corporate Purpose Bonds, Series 1990, 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, a portion of the levy of the tax for the year
1990 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 a
portion of the tax of $687 ,380.22 for the year 1990 as
provided and levied in the ordinance providing for the
issuance of $7,720,000 Corporate Purpose Bonds, Series 1990,
passed July 25, 1990, a copy of which was filed with each of
rft. said county clerks; said tax shall be abated by reducing said
sum $500,202 . 22 and extending a tax for the year 1990 in the
amount of $187, 178 . 00 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, 1990 .
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 VanDeVoorde
George VanDeVoorde, Mayor
Presented: December 12, 1990
Adopted: December 12, 1990
Vote: Yeas 7 Nays 0
Recorded:
Attest:
rk4 s/ Dolonna Mecum
Dolonna Mecum, City Clerk