T10-12 AN ORDINANCE Ordinance No. T10-12
•
ABATING THE ANNUAL TAX FOR 2011 FOR
GENERAL OBLIGATION REFUNDING BONDS, SERIES 2004B
WHEREAS,the City of Elgin will have sufficient funds on hand to pay the tax levied by Ordinance
513-04, An Ordinance Providing for the Issuance of $5,435,000 General Obligation Refunding
Bonds, Series 2004B, 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 2011 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$517,200 for the year 2011 as p rovided and levied in the ordinance
providing for the issuance of$5,435,000 General Obligation Refunding Bonds,Series 2004B,passed
April 14, 2004, 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, prior to April 1, 2012.
Section 3. That this ordinance shall be in full force and effect from and after its passage
in the manner provided by law.
David J. Ka ain, ayor
Presented: February 22, 2012
Passed: February 22, 2012
Omnibus Vote: Yeas: 6 Nays: 0
Recorded: February 22, 2012
Published: February 24, 2012
Attest:
PL
Kimberly Dewis, City Clerk °
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