T9-00 Ordinance No . T9-00
AN ORDINANCE
ABATING A PORTION OF THE ANNUAL TAX FOR 1999 FOR
GENERAL OBLIGATION CORPORATE PURPOSE BONDS, SERIES 1996A
WHEREAS, the City of Elgin will have sufficient funds on
hand to pay a portion of the tax levied by Ordinance S14-96 ,
An Ordinance Providing for the Issuance of $21, 640 , 000 General
Obligation Corporate Purpose Bonds, Series 1996A, 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 1999 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 a
portion of the tax of $1, 807, 373 for the year 1999 as provided
and levied in the ordinance providing for the issuance of
$21, 640, 000 General Obligation Corporate Purpose Bonds, Series
1996A, passed December 4 , 1996, a copy of which was filed with
few each of said county clerks; said tax shall be abated by
reducing said sum $1, 372 , 045 and extending a tax for the year
1999 in the amount of $435, 328 against all taxable property
situated in the City of Elgin, Kane and Cook Counties,
Illinois .
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
April 14 , 2000 .
Section 3 . That this ordinance shall be in full force
and effect from and after its passage in the manner provided
by law.
Ed Schock, Mayor
Presented: April 12 , 2000
Passed: April 12 , 2000
Omnibus Vote : Yeas 6 Nays 0
Recorded: April 13 , 2000
Published: April 14 , 2000
Attest :
Dolonna Mecum, City Clerk