T5-10 • Ordinance No. T5-10
AN ORDINANCE
ABATING THE ANNUAL TAX FOR 2009 FOR
GENERAL OBLIGATION REFUNDING BONDS, SERIES 2001 A
WHEREAS. the City of Elgin will have sufficient funds on hand to pay the tax levied by
Ordinance S4-01, an Ordinance providing for the issuance of $5,525,000 General Obligation
Refunding Bonds. Series 2001A, of the City of Elgin, Kane and Cook Counties; Illinois,
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 2009 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 $331,378 for the year 2009 as provided and levied in the ordinance
providing for the issuance of$5,525,000 General Obligation Refunding Bonds, Series 2001 A;passed
April 25,I 2001, 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 14, 2010.
Section 3. That this ordinance shall be in full force and effect from and after its passage in
the manner-provided by laws.
Ed Schock, Mayor
Presented: March 10, 2010
Passed: March 10; 2010 e
Omnibus Vote: Yeas: 7 Nays: 0
Recorded: March 11, 2010
Published: March 12, 2010
Attest:
Diane Robertson, City Jerk
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