T19-11f
• Ordinance No. T19-11
AN ORDINANCE
REGARDING ABATING A PORTION OF THE ANNUAL TAX FOR 2010 FOR
REFUNDING AND CORPORATE PURPOSE BONDS
WHEREAS,the City Council has adopted Ordinance Numbers T1-1 l;T2-11.T4-11,T5-11,
T6-11, T8-11, T10-11, T14-11, T15-11, T16-11, and T18-11 providing for abating a portion of the
annual tax for 2010 for refunding and corporate purpose bonds for the series bonds referred to in
such ordinances: and
WHEREAS, depending upon the 2010 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 2010 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 Chief Finance Officer be and is hereby authorized and directed
that upon receipt of 2010 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 T1-11, T2-11, T4-11, T5-11, T6-11, T8-11, T10-11, T14-11, T15-11, T16-11,
and T18-11 so as to attempt to arrive at a 2010 tax rate for the City of Elgin not to exceed $1.9299
per $100 of assessed valuation. The city's Chief Financial Officer shall make such adjustments, if
any,prior to the filing of a certified copy of Ordinance Numbers TI-1 1,T2-11,T4-11,T5-11,T6-11,
T8-11, T10-11, T14-11, T15-11, T16-11, and T18-11 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 T1-11,T2-I 1,T4-11,T5-I 1,T6-11,T8-11,T10-I 1,T14-11,T15-11,T16-11,and T18-11
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
is
• Presented: February 23, 2011
Passed: February 23, 2011
Omnibus Vote: Yeas: 7 Nays: 0
Recorded: February 23. 2011
Published: February 25, 2011
Attest:
Diane Robertson; City Cle k
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