T2-11 Ordinance No. T2-11
AN ORDINANCE
ABATING THE ANNUAL TAX FOR 2010 FOR GENERAL OBLIGATION
CORPORATE PURPOSE BONDS, SERIES 1997A
WHEREAS, the City of Elgin will have sufficient funds on hand to pay the tax levied by
Ordinance S8-97, An Ordinance Providing for the Issuance of $4,860,000 General Obligation
Corporate Purpose Bonds,Series 1997A,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 2010 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 $62,425 for the year 2010 as provided and levied in the ordinance
providing for the issuance of $4,860,000 General Obligation Corporate Purpose Bonds, Series
1997A, passed May 14, 1997, 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 15,2011.
Section 3. 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: 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