T4-92 row Ordinance No. T4-92
AN ORDINANCE
ABATING THE ANNUAL TAX FOR 1992 GENERAL OBLIGATION
WATER BONDS, SERIES 1980
WHEREAS, the City of Elgin will have sufficient funds on
hand to pay the tax levied by Ordinance S1-80, An Ordinance
Providing for Borrowing Money and Issuing Bonds of the City of
Elgin, Kane and Cook Counties, Illinois, to the Amount of
$18, 900,000 for Paying the Cost of Constructing Public
Improvements in said 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, the levy of the tax for the year 1992 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 the tax
of $1,838,500 for the year 1992 as provided and levied in the
ordinance providing for the issuance of $18,900, 000 General
Obligation Water Bonds, Series 1980, passed January 28,
1980, 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, 1992 .
Section 3 . That this ordinance shall be in full force
and effect from and after its passage in the manner provided
by law.
;C:4,, ,,,,,, ., .' ) ,
Geor/ VanDeVoorde, Mayor
Presented: December 16, 1992
Passed: December 16 , 1992
Omnibus Vote: Yeas 7 Nays 0
Recorded: December 17, 1992
Published:
Attest:
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Dolonna Mecum, City Clerk