T25-10 (4) Ordinance No. T19-10
AN ORDINANCE
REGARDING ABATING A PORTION OF THE ANNUAL TAX FOR 2009 FOR
REFUNDING AND CORPORATE PURPOSE BONDS
WHEREAS,the City Council has adopted Ordinance Numbers T1-10,T2-10,T4-10.T5-10,
T6-10, T7-10, T8-10, T10-10, T12-10, T15-10 and T17-10 providing for abating a portion of the
annual tax for 2009 for refunding and corporate purpose bonds for the series bonds referred to in
such ordinances; and
WHEREAS, depending upon the 2009 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 2009 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 2009 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 T1-10.T2-10,14-10,T5-10,T6-10,T7-10,T8-10,T10-10,T12-10,1-15-10 and
T17-10 so as to attempt to arrive at a 2009 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 T1-10. T2-10, T4-10, T5-10,T6-10,T7-
10.T8-10, T10-10, T12-10, T15-10 and TI 7-10 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
TI-10, T2-10, T4-10, T5-10, T6-10, 17-10. T8-10, T10-10, T12-10, T15-10 and T17-10 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.
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Ed Schock, Mayor
Presented: March 10, 2010
Passed: March 10, 2010 OF F
Omnibus Vote: Yeas: 7 Nays: 0 •
Recorded: March 11, 2010
Published: March 12, 2010 lm ,
Attest:
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Diane Robertson, City lerk
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