G31-92 f.
ORDINANCE NO. G31-92
An Ordinance Amending Ordinance G22-75 of the City of Elgin, Kane and Cook
Counties, Illinois, which ordinance established procedures to be followed by the City in
issuing non-referendum general obligation bonds.
WHEREAS, the City Council of the City of Elgin, Kane and Cook Counties, Illinois,
(the "City"), has heretofore adopted Ordinance No. G22-75 on April 23, 1975, Ordinance
No. G14-80 on January 28, 1980, Ordinance No. G64-80 on October 8, 1980, and
Ordinance No. G39-82 on July 28, 1982 (Ordinance No. G22-75 as amended by such
amendatory ordinances being hereinafter referred to as the "Enabling Ordinance"); and
WHEREAS, Section 6 of the Enabling Ordinance requires that Bond Ordinances of
the City be published in a newspaper published and of general circulation in the City; and
WHEREAS, the City Council of the City has heretofore determined that in order to
save publication costs and to provide flexibility for the publication of City Bond Ordinances
it is in the best interests of the City that the Enabling Ordinance be amended to authorize the
publication of Bond Ordinances in pamphlet form:
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF ELGIN, KANE AND COOK COUNTIES, ILLINOIS:
Section 1. That Section 6 of the Enabling Ordinance be and is hereby amended to
read as follows:
"Section 6. That the provisions of any Bond Ordinance shall
constitute an appropriation of the amounts required as therein
referred to and described and upon the delivery of the bonds
therein authorized, the proceeds thereof shall be used solely and
only for the purposes for which the bonds were authorized.
Upon the adoption of any Bond Ordinance by the City Council and
its approval by the Mayor, the same shall be published in a
newspaper published and of general circulation in the City, if there
be one, and if there is no such newspaper, then in a newspaper
published and of general circulation in the county in which the City
or the major portion hereof is situated, or, in the alternative and if
so directed in the Bond Ordinance, any such Bond Ordinance may
be published in pamphlet form by making sufficient copies of the
Ordinance available to the public in the Office of the City Clerk.
Such Bond Ordinances shall become effective upon publication".
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Section 2. That this ordinance shall be in full force and effect from and after its
passage and approval and shall be applicable to the procedures to be followed for any bonds
issued after the effective date of this Ordinance.
Mayor
Presented: June 17 , 1992
Passed: June 17 , 1992
Vote: Yeas 5 Nays 1
Recorded: June 18, 1992
Published: June 18 , 1992
Attest:
City Clerk
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