T1-95 Ordinance No. T1-95
AN ORDINANCE
ABATING THE ANNUAL TAX FOR 1994 FOR
CORPORATE PURPOSE BONDS, SERIES 1988
WHEREAS, the City of Elgin will have sufficient funds on
hand to pay a portion of the tax levied by Ordinance S5-88, An
Ordinance Providing for the Issuance of $4 , 950,000 General
Obligation Corporate Purpose Bonds, Series 1988, 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 1994 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 $233, 775 for the year 1994 as provided and levied in the
ordinance providing for the issuance of $4 , 950, 000 Corporate
Purpose Bonds, Series 1988, passed June 8, 1988, 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
March 31, 1995 .
Section 3 . That this ordinance shall be in full force
and effect from and after its passa e in the manner provided
by law.
George nDeVoorde, Mayor
Presented: March 22 , 1995
Passed: March 22 , 1995
Vote: Yeas 7 Nays 0
Recorded: March 23, 1995
Published:
Attest:
9,60-„4 � � .
Dolonna Mecum, City Clerk
rift