T17-07 r`' Ordinance No. T17-07
AN ORDINANCE
REGARDING ABATING A PORTION OF THE ANNUAL TAX FOR 2006 FOR
REFUNDING AND CORPORATE PURPOSE BONDS
WHEREAS,the City Council has adopted Ordinance Numbers T2-07,T3-07,T4-07,T6-07,
T7-07, T8-07, T9-07, and T14-07 providing for abating a portion of the annual tax for 2006 for
refunding and corporate purpose bonds for the series bonds referred to in such ordinances; and
WHEREAS, depending upon the 2006 assessed valuation figures and the state multiplier it
may be necessary to further adjust the amounts of the abatement and resulting tax levy in Section 1
of such ordinances in order to arrive at a 2006 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 Director be and is hereby authorized and directed
that upon receipt of 2006 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 Numbers T2-07,T3-07,T4-07,T6-07,T7-07,T8-07, T9-07,and T14-07 so as to attempt
to arrive at a 2006 tax rate for the City of Elgin not to exceed $1.9299 per $100 of assessed
valuation. The city's Fiscal Services Director shall make such adjustments,if any,prior to the filing
of a certified copy of Ordinance Numbers T2-07, T3-07, T4-07, T6-07, T7-07, T8-07, T9-07, and
T14-07 with the County Clerks of Kane and Cook Counties, Illinois, whereupon the amount of the
abatement and tax levy in Section 1 of Ordinance Numbers T2-07,T3-07,T4-07,T6-07,T7-07,T8-
07, T9-07, and T14-07 shall be deemed final.
Section 2. That this ordinance shall be in full force and effect from and after its passage in
the manner provided by law.
...011111T
Ed Schock, Mayor
Presented: March 21, 2007
Passed: March 21, 2007
Vote: Yeas: 7 Nays: 0
Recorded: March 22, 2007
Published:
Attest:
1;1134-"--4 --
Dolonna Mecum, City Clerk