T6-90 Ordinance No. T6-90
AN ORDINANCE
ABATING A PORTION OF THE ANNUAL TAX FOR 1990 FOR
GENERAL OBLIGATION PARKING BONDS, SERIES 1980A
WHEREAS, the City of Elgin will have sufficient funds on
hand to pay a portion of 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, a portion of the levy of the tax for the year
1990 provided in the ordinance is unnecessary.
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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 $288, 125 for the year 1990 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; said tax shall be abated by reducing
said sum $55,000 and extending a tax for the year 1990 in the
amount of $233, 125 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 .
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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:
. took Attest:
s/ Dolonna Mecum
Dolonna Mecum, City Clerk