T8-96 Ordinance No. T8-96
AN ORDINANCE
ABATING THE ANNUAL TAX FOR 1995 FOR
GENERAL OBLIGATION REFUNDING BONDS, SERIES 1993B
WHEREAS, the City of Elgin will have sufficient funds on
hand to pay the tax levied by Ordinance S3-93, An Ordinance
Providing for the Issuance of $8,280,000 General Obligation
Refunding Bonds, Series 1993B, 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 1995 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, 806,685 for the year 1995 as provided and levied in the
ordinance providing for the issuance of $8,280, 000 General
Obligation Refunding Bonds Series 1993B, passed May 26, 1993,
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, 1996 .
Section 3 . That this ordinance shall be in full force
and effect from and after its passage in the manner provided
by law.
Kevin Kelly, Mayor
Presented: March 13, 1996
Passed: March 13 , 1996
Omnibus Vote: Yeas 7 Nays 0
Recorded: March 14, 1996
Published:
Attest:
tow
Dolonna Mecum, ity Clerk