T7-92 Ordinance No. T7-92
AN ORDINANCE
ABATING THE ANNUAL TAX FOR 1992 FOR GENERAL OBLIGATION
CORPORATE PURPOSE BONDS, SERIES 1989A
WHEREAS, the City of Elgin will have sufficient funds on
hand to pay the tax levied by Ordinance T2-89, An Ordinance
Providing for the Issuance of $2,500,000 General Obligation
Bonds, Series 1989A, 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, 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 $241,497 .50 for the year 1992 as provided and levied in the
ordinance providing for the issuance of $2,500, 000 General
Obligation Corporate Purpose Bonds, Series 1989A, passed
September 27 , 1989 , 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.
Geor VanDeVoorde, Mayor
Presented: December 16 , 1992
Passed: December 16, 1992
Omnibus Vote: Yeas 7 Nays 0
Recorded: December 17, 1992
Published:
Attest:
M__C. CAA.
Dolonna Mecum, City Clerk