T9 -02 e..., Ordinance No. T9-02
AN ORDINANCE
ABATING ANNUAL TAX FOR 2001 FOR GENERAL OBLIGATION
CORPORATE PURPOSE BONDS, SERIES 1998A
WHEREAS, the City of Elgin will have sufficient funds on hand
to pay the tax levied by Ordinance S3-98, An Ordinance Providing
for the Issuance of $7, 650, 000 General Obligation Bonds, Series
1998A, 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 $571, 840 for
the year 2001 as provided and levied in the ordinance providing for
the issuance of $7, 650, 000 Corporate Purpose Bonds, Series 1998A,
passed April 8, 1998, a copy of which was filed with each of said
rib. 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
gillieffect from and after its passage in th nner provided by law.
Ed Schack, Mayor
Presented: March 27, 2002
Passed: March 27, 2002
Omnibus Vote : Yeas : 5 Nays : 2
Recorded: March 28 , 2002
Published: March 29, 2002
Attest :
1 :1C91-4;21'44"42.- /0-1--"C44'--
Dolonna Mecum, City Clerk
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