T16-93 r
Ordinance No. T16-93
AN ORDINANCE
PROVIDING FOR THE TRANSFER OF MONEY FROM THE
WORKING CASH FUND TO THE GENERAL FUND
WHEREAS, moneys are required to meet the ordinary and
necessary disbursement for salaries and other corporate
purposes payable from the General Fund; and
WHEREAS, it is desirable that there be transferred from
the Working Cash Fund to the General Fund the sum of Nine
Hundred Fifty Thousand Dollars ( $950,000 . 00) .
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF ELGIN, ILLINOIS:
Section 1 . That the following items are hereby set forth
and determined to be correct:
a. It is proposed to transfer from the Working Cash
Fund the sum of $950,000 . 00 to the General Fund in
anticipation of the collection of the General Corporate
Purpose Tax for the year 1993, in the total amount of
$10,556,645 . 00 .
b. The total amount of taxes extended (or to be
extended) for the year 1993 by the County Clerks of Kane and
Cook Counties for all purposes is $18,497,730 . 00 .
The total amount of such taxes extended (or to
be extended) as a General Corporate Purpose Tax, in
anticipation of which such transfer is to be made is
$10,556, 645 . 00 .
c. The aggregate amount of warrants heretofore
issued in anticipation of the collection of all corporate
taxes levied for the year 1993 : None.
d. The aggregate amount of money heretofore
authorized to be transferred from the Working Cash Fund for
all corporate purposes in anticipation of the collection of
all corporate taxes for the year 1993 : None.
Section 2 . That the City Treasurer be and he is hereby
directed to transfer in anticipation of the collection of the
General Corporate Purpose Tax for the year 1993 from the
Working Cash Fund to the General Fund the sum of $950,000 . 00
to meet the ordinary and necessary disbursements for salaries
and other corporate purposes payable from such fund, provided
that the total amount of warrants heretofore issued against
such General Corporate Purpose Tax shall not exceed ninety
percent of the actual or estimated taxes extended or to be
extended for Tax.
Section 3 . That this ordinance shall be in full force
and effect upon its passage and approval .
George anDeVoorde, Mayor
Presented: December 15, 1993
Passed: December 15, 1993
Vote: Yeas 5 Nays 0
Recorded: December 16, 1993
Published:
Attest:
c14-;?z,i4- &,,e_..u-k.—
Dolonna Mecum, City Clerk
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