T23-09 AN ORDINANCE Ordinance No. T23-09
REGARDING ABATING A PORTION OF THE ANNUAL TAX FOR 2008 FOR
REFUNDING AND CORPORATE PURPOSE BONDS
WHEREAS,the City Council has adopted Ordinance Numbers T5-09,T6-09,T7-09,T9-09,
T10-09, T11-09, T12-09, and T17-09 providing for abating a portion of the annual tax for 2008 for
refunding and corporate purpose bonds for the series bonds referred to in such ordinances; and
WHEREAS, depending upon the 2008 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 2008 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 2008 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 T5-09, T6-09, T7-09, T9-09, T10-09, T11-09, T12-09, and T17-09 so as to
attempt to arrive at a 2008 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 T5-09,T6-09,T7-09,T9-09,T10-09,T11-09,T12-09,and
T17-09 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 T5-09, T6-09, T7-09, T9-09, T10-09,
T 11-09, T 12-09, and T 17-09 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.
Ed Schock, Mayor
Presented: March 18, 2009
Passed: March 18, 2009 � (
Vote: Yeas: 6 Nays: 0
Recorded: March 19, 2009
Published: March 20, 2009 _.
Attest:
Diane Robertson, City lerk
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