T1 -02 (2) Ordinance No. T8-02
AN ORDINANCE
ABATING THE ANNUAL TAX FOR 2001 FOR GENERAL OBLIGATION
REFUNDING BONDS, SERIES 1997B
WHEREAS, the City of Elgin will have sufficient funds on
hand to pay the tax levied by Ordinance S9-97, An Ordinance
Providing for the Issuance of $3 , 350, 000 General Obligation
Refunding Bonds, Series 1997B, 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
$1, 110, 000 for the year 2001 as provided and levied in the
ordinance providing for the issuance of $3 , 350, 000 General
Obligation Refunding Bonds, Series 1997B, passed May 14, 1997, a
copy of which was filed with each of said county clerks .
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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 the nepro ided by law.
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d *:c 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