T16-99 Ordinance No. T16-99
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AN ORDINANCE
ABATING ANNUAL TAX FOR 1998 FOR GENERAL OBLIGATION
CORPORATE PURPOSE BONDS, SERIES 1998A
WHEREAS, the City of Elgin will have sufficient funds on
hand to pay the tax levied by Ordinance S3-98, An Ordinance
Providing for the Issuance of $7, 650,000 General Obligation
Bonds, Series 1998A, 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 1998 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 $560, 847 for the year 1998 as provided and levied in the
ordinance providing for the issuance of $7, 650, 000 Corporate
Purpose Bonds, Series 1998A, passed April 8, 1998, a copy of
which was filed with each of said county clerks .
eft 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 25, 1999 .
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 24, 1999
Passed: March 24, 1999
Omnibus Vote: Yeas 5 Nays 0
Recorded: March 25, 1999
Published:
Attest:
An
Dolonna Mecum, City Clerk
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