T11-14 Ordinance No. T11-14
AN ORDINANCE
ABATING THE ANNUAL TAX FOR 2013 FOR
GENERAL OBLIGATION REFUNDING BONDS, SERIES 2008B
WHEREAS, the City of Elgin will have sufficient funds on hand to pay the tax levied by
Ordinance S5-08, An Ordinance Providing for the Issuance of $8,150,000 General Obligation
Refunding Bonds, Series 2008B, 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 2013 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$93,400 for the year 2013 as provided and levied in the ordinance
providing for the issuance of $8,150,000 General Obligation Refunding Bonds, Series 2008B,
passed April 23, 2008, 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 March 15, 2014.
Section 3. That this ordinance shall be in full force and effect from and after its
passage in the manner provided by law.
AD avid J. Ka rain, 'ayor
Presented: February 26, 2014
Passed: February 26, 2014
Omnibus Vote: Yeas: 8 Nays: 0
Recorded: February 26, 2014
Published: February 27, 2014
Attest:
.
Kimberly Dewis, Cit. Clerk