T11-13 Ordinance No. T 11-13
AN ORDINANCE
ABATING THE ANNUAL TAX FOR 2012 FOR
GENERAL OBLIGATION CORPORATE PURPOSE BONDS, SERIES 2006B
WHEREAS, the City of Elgin will have sufficient funds on hand to pay the tax levied by
Ordinance 58-06, An Ordinance Providing for the Issuance of$5,322,248.40 General Obligation
Corporate Purpose(Capital Appreciation)Bonds, Series 2006B,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 2012 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$300,000 for the year 2012 as provided and levied in the ordinance
providing for the issuance of $5,322,248.40 General Obligation Corporate Purpose (Capital
Appreciation)Bonds, Series 2006B,passed April 12, 2006, 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, 2013.
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 13, 2013
Passed: February 13, 2013
Omnibus Vote: Yeas: 7 Nays: 0
Recorded: February 13, 2013
Published: February 15, 2013
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Attest:
Kimberly Dewis, City Cler