T3-05 r► Ordinance No. T3-05
AN ORDINANCE
ABATING THE ANNUAL TAX FOR 2004 FOR
GENERAL OBLIGATION CORPORATE PURPOSE BONDS, SERIES 1996A
WHEREAS, the City of Elgin will have sufficient funds on hand to pay the tax levied by
Ordinance S 14-96, An Ordinance Providing for the Issuance of$21,640,000 General Obligation
Corporate Purpose Bonds,Series 1996A,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 2004 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$1,163,018 for the year 2004 as provided and levied in the
ordinance providing for the issuance of$21,640,000 General Obligation Corporate Purpose Bonds,
Series 1996A,passed December 4, 1996,a copy of which was filed with each of said county clerks;
said tax shall be abated by reducing said sum$888,750 and extending a tax for the year 2004 in the
amount of $274,268 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,on or before April 13,2005.
Section 3. That this ordinance shall be in full force and effect from and after its passage in
the manner provided by law.
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Ed Schock, Mayor
Presented: March 23, 2005
Passed: March 23, 2005
Vote: Yeas: 6 Nays: 0
Recorded: March 24, 2005
Published: March 24, 2005
Attest:
rik Fitt4311,46
Dolonna Mecum, City Clerk