T21-12 Ordinance No. T21-12
AN ORDINANCE
REGARDING ABATING A PORTION OF THE ANNUAL TAX FOR 2011 FOR
REFUNDING AND CORPORATE PURPOSE BONDS
WHEREAS,the City Council has adopted Ordinance Numbers T6-12,T7-12,T9-12,TI 1-12,
T 15-12, T 16-12, T 17-12, and T 19-12 providing for abating a portion of the annual tax for 2011 for
refunding and corporate purpose bonds for the series bonds referred to in such ordinances; and
WHEREAS, depending upon the 2011 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 2011 tax levy for the City of Elgin not to exceed
$46,445,000.
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 2011 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 T6-12, T7-12, T9-12, TI 1-12, T 15-12, TI 6-12, T 17-12, and TI 9-12 so as to
attempt to arrive at a 2011 tax levy for the City of Elgin not to exceed $46,445,000. The city's Chief
• Financial Officer shall make such adjustments, if any, prior to the filing of a certified copy of
Ordinance Numbers T6-12, T7-12, T9-12, TI 1-12, T 15-12, T16-12, T17-12, and T19-12 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 T6-12,T7-12,T9-12,T11-12,T15-12,T16-12,T17-12,and
T19-12 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.
A Z
David J. Kapta , a or
Presented: February 22, 2012
Passed: February 22, 2012
Omnibus Vote: Yeas: 6 Na_vs: 0 0
Recorded: February 22, 2012 �a¢zau`5
Published: February 24, 2012 `
Attest: a
• Kimberly Dewis, City Clerk