T7-01 Lir Ordinance No . T7-01
AN ORDINANCE
ABATING A PORTION OF THE ANNUAL TAX FOR 2000 FOR
GENERAL OBLIGATION CORPORATE PURPOSE BONDS, SERIES 1995
WHEREAS, the City of Elgin will have sufficient funds on
hand to pay a portion of the tax levied by Ordinance S5-95, An
Ordinance Providing for the Issuance of $16, 455 , 000 General
Obligation Corporate Purpose Bonds, Series 1995, 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 2000 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 $559, 770 for the year 2000 as provided and levied
in the ordinance providing for the issuance of $16 , 455, 000
General Obligation Corporate Purpose Bonds, Series 1995, passed
April 26, 1995, a copy of which was filed with each of said
county clerks; said tax shall be abated by reducing said sum
$501, 445 and extending a tax for the year 2000 in the amount of
$58 , 325 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 12 , 2001 .
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 11, 2001
Passed: April 11, 2001
Omnibus Vote : Yeas 7 Nays 0
Recorded: April 12 , 2001
Published: April 13 , 2001
Attest :
4 4 11 ALL
114110, Dolonna Mecum, City Clerk