T3-98 Ordinance No. T3-98
C AN ORDINANCE
ABATING ANNUAL TAX FOR 1997 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 1997 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 $147 , 047 for the year 1997 as provided and levied in the
ordinance providing for the issuance of $2 ,500, 000 Corporate
Purpose Bonds, Series 1989A, passed September 27 , 1989, a copy
of which was filed with each of said county clerks .
low 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 27,
1998 .
Section 3 . That this ordinance shall be in full force and
effect from and after its passage in the manner provided by
law.
)-4- eL__ 24 --
Kevin Kelly, Mayo
Presented: March 25, 1998
Adopted: March 25, 1998
Omnibus Vote: Yeas 5 Nays 0
Attest:
Dolonna Mecum, City Clerk