T1 -02 Ordinance No. T1-02
AN ORDINANCE
ABATING ANNUAL TAX FOR 2001 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 2001 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
$144, 382 for the year 2001 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 .
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, on or before April 15, 2002 .
Section 3 . That this ordinance shall be in full force and
effect from and after its passage in tie an -r p ovide by law.
KI;01;*
Ed ' cho , Mayor
Presented: March 27, 2002
Passed: March 27, 2002
Omnibus Vote : Yeas : 5 Nays : 2
Recorded: March 28 , 2002
Published: March 29, 2002
Attest :
Dolonna Mecum, City Clerk
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