T4-08 em. Ordinance No. T4-08
AN ORDINANCE
ABATING THE ANNUAL TAX FOR 2007 FOR
GENERAL OBLIGATION CORPORATE PURPOSE BONDS, SERIES 1999
WHEREAS,the City of Elgin will have sufficient funds on hand to pay a portion of the tax
levied by Ordinance S4-99, an Ordinance providing for the issuance of $9,750,000 General
Obligation Corporate Purpose Bonds, Series 1999, 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 2007 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$391,200 for the year 2007 as provided and levied in the ordinance
providing for the issuance of$9,750,000 General Obligation Corporate Purpose Bonds,Series 1999,
passed May 12, 1999, a copy of which was filed with each of said 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 9, 2008.
Section 3. That this ordinance shall be in full force and effect from and after its passage in
the manner provided by law.
Zreleroesd _
Ed Schock, Mayor
Presented: March 26, 2008
Passed: March 26, 2008
Omnibus Vote: Yeas: 4 Nays: 0
Recorded: March 27, 2008 OF FAG
Published: March 28, 2008 ` �►�'�hs• �ti
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Attest.
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Diane Robertson, ity Clerk .,1.4r.p.E�"