T15-02 to,, CITY OF ELGIN
TAX ABATEMENT ORDINANCES
T1-02 THROUGH T15-02
PASSED BY THE
CITY COUNCIL OF THE
CITY OF ELGIN
ON THE 27TH DAY OF MARCH 2002
Published in pamphlet form by authority of the
City Council of the City of Elgin, Kane and
Cook Counties, Illinois, on this 29th day of
March 2002.
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Ordinance No . T15-02
AN ORDINANCE
REGARDING ABATING A PORTION OF THE ANNUAL TAX FOR 2001 FOR
CORPORATE PURPOSE BONDS, SERIES 1993
WHEREAS, the City Council has adopted Ordinance No. T2-02
providing for abating a portion of the annual tax for 2001 for
corporate purpose bonds, Series 1993 ; and
WHEREAS, depending upon the 2001 assessed valuation figures
and the state multiplier it may be necessary to further adjust
the amount of the abatement and resulting tax levy in Section 1
of such ordinance in order to arrive at a 2001 tax rate for the
City of Elgin not to exceed $1 . 9299 per $100 . 00 of assessed
valuation.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF ELGIN, ILLINOIS :
Section 1 . That the city' s Fiscal Services Manager be and
is hereby authorized and directed that upon receipt of 2001
assessed valuation figures and the state multiplier to adjust, to
the extent reasonably practicable, the amount of the abatement
and resulting tax levy in the Section 1 of Ordinance No. T2-02
so as to attempt to arrive at a 2001 tax rate for the City of
Elgin not to exceed $1 . 9299 per $100 of assessed valuation. The
city' s Fiscal Services Manager shall make such adjustments, if
any, prior to the filing of a certified copy of Ordinance No.
T2-02 with the County Clerks of Kane and Cook Counties, Illinois,
whereupon the amount of the abatement and tax levy in Section 1
of Ordinance No. T2-02 shall be deemed final .
Section 2 . That this ordinance shall be in full force and
effect from and after its passage in the m_ • er rovi ed by law.
Ed Sc ock, Mayor
Presented: March 27, 2002
Passed: March 27, 2002
Omnibus Vote : Yeas : 5 Nays : 2
Recorded: March 28, 2002
Published: March 29, 2002
Attest :
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Dolonna Mecum, City Clerk
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